Credit cards aren’t a petty piece of plastic anymore, it has evolved into a status symbol for individuals. Because of the amazing rewards and offers it gives to customers, everybody wants to have a credit card in his or her pocket. But there are some individuals who can not get a credit card because of some reason. These reasons generally are poor CIBIL score or no credit history in their name. For such individuals, banks provide the credit card against fixed deposits so that they can get their hands on the best credit card against fixed deposit.
Fixed deposits act as collateral against the credit card you will get. You must be wondering what is the need for this security? Well, credit cards are a kind of unsecured instrument. For the people who have a poor credit score or do not even have a score, it is quite difficult for the banks to trust them. That’s why banks ask for the FD against the credit card. This type of credit card is known as the secured credit card as you have pledged the security against it and also, the interest rate on this card is lower than the unsecured credit cards. We have curated some of the best credit card against fixed deposit, so you don’t have to face any kind of trouble while choosing it. You can have a look at them below. SBI Unnati Credit Card:
Axis Bank Insta Easy Credit Card:
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The Union Budget 2020 is out with less but significant announcements if you are planning to take a loan to buy a home. Finance Minister Nirmala Sitharaman while presenting the budget has declared that taxpayers can choose an optional tax regime. The optional tax system entails reduced rates across slabs compared to the present one. But you need to let go as many as 100 tax deductions & exemptions under various sections of the Income Tax Act. These also include the home loan tax deductions you get under Section 80C and 24. Now that makes the game interesting for home loan aspirants of banks including the trustworthy Bank of India (BOI). All you need to compare Bank of India Home Loan Interest Rate with respect to the existing and optional taxation system. So what are you waiting for? Let’s read and understand the effect here.
How Much is Bank of India Home Loan Interest Rate? Bank of India offers home loans at interest rates benchmarked to Repo Rate. The rates, as we speak, range from 8.25%-8.40% per annum. While setting the interest rate, the bank also checks the credit score and profession of the applicant. Those with a CIBIL score of 760 and above will get the loan at 8.10% per annum. The interest rate for loans to applicants having a CIBIL score of 725 and 759 will be 8.25%-8.30% and 8.35%-8.40% for salaried and self-employed, respectively. As the CIBIL score comes down to 675-724, the home loan interest rate will go up to 8.35%-8.40% for salaried and 8.95%-9.00% per annum for self-employed. If you don’t have a credit profile, the bank will disburse the loan at 8.25%-8.30% to salaried and 8.35%-8.40% to self-employed. How Much Bank of India Home Loan Interest You Will Pay? You can get to know the same using the Bank of India Home Loan Calculator. The calculator will help compute the Equated Monthly Installment (EMI), a portion of both principal and interest payable towards a loan. You can also check the amount of interest and principal payable every year. So, if you take a ₹50-lakh home loan from Bank of India at 8.95% per annum. You’ll pay an EMI of ₹44,826 over 20 years. The interest liability will be above 2 lakh for 15 years. Whereas, the principal payments will remain under 1.5 lakh for the first 6 years. You will get the entire principal and interest repayment as tax deductions for 6 and 15 years, respectively. However, if you opt for an optional tax system, you will be taxed as per the following rates Upto ₹2,50,000 - NIL Above ₹2,50,000-5,00,000 - 5% Above ₹5,00,000-7,50,000 - 10% Above ₹7,50,000-10,00,000 - 15% Above ₹10,00,000-12,50,000 - 20% Above ₹12,50,000-15,00,000 - 25% Above ₹15,00,000 - 30% In case you are earning ₹12 lakh a year, your total income tax as per the optional system will amount to ₹80,600 annually, which will break to ₹6,716.67 a month. Whereas, if you go by the existing tax system, your income tax will be ₹63,303.40 a year. Monthly, it will come down to ₹5,275.27 Personal loans are probably the best solutions for your financial needs. And the Aditya Birla Capital Limited provides loans to the customer at an attractive rate of interest. The interest levied to your borrowed amount depends on your loan eligibility. Read this article to know how the Aditya Birla Capital personal loan interest rate is put on the loan amount.
What is the interest rate on Aditya Birla Capital personal loan? The interest rate ranges from 14.00%-26.00% on Aditya Birla personal loan. And the loan interest is fixed throughout the loan tenure. You can pay the applied interest in equated monthly installments. But before applying for the loan, you must know what are the factors which decide the Aditya Birla Capital personal loan interest rate. Look at the below pointers and find out how the interest is levied to your loan amount. Know the income: Applicant monthly income is the most important factor in deciding the interest. Because the source of your income is the only way by which you can pay off the borrowed amount. And if your income is INR 25,000 and above then you are eligible for the Aditya Birla personal loan. Or the interest applied to the loan will be lower if your income is higher after deducting the liabilities. Clear Payment Record: You can get a negotiable Aditya Birla Capital personal loan interest rate if your repayment history contains zero dues or defaults. The NBFC checks the applicant credit history to know the individual credit capacity and worthiness. So if your CIBIL score is 700 and above then you can negotiate for a lower rate of interest. High loan eligibility: The another way to get the desired amount at a lower Aditya Birla Capital personal loan interest rate is via co-applicant. If you add a co-applicant to your loan then you can borrow the loan amount at a lower rate of interest. Because the co-applicant income and credit record is taken into account and affects your loan. Apply for Aditya Birla Personal loan and get instant disbursal and approval You can apply for a personal loan from Aditya Birla Capital Ltd. using its online services. Visit the NBFC website and fill up the online application form and submit the required documents. The documents can be uploaded and you don't need to visit any branch for this. A 2% of your loan amount is the processing fee needed for the loan process. Different from the other lenders who take months to approve a loan the Aditya Birla Capital approves your loan within 30 minutes. And after the loan approval the amount is disbursed to your account instantly. The user can pay the applied Aditya Birla Capital personal loan interest rate and borrowed amount in equated monthly installments. There are several different methods for the EMI payments some of them are Electronic Clearing Service (ECS) and auto-debit. You can use any of the payment methods to pay your loan EMIs on time and avoid the late payment fees. Loan tenure for the payment of the borrowed amount is up to 36 months.So, get a personal loan from Aditya Birla and fulfill your money requirements without any trouble. Axis Bank provides a special credit card for customers. Using which they can save on their daily fuel expenses. Approximate every single individual has their vehicle and the fuel needed is for the daily routine. So to make your fuel expenses manageable Axis Bank gives you the Axis Indian oil card. Using the card you can earn cashback, rewards and a much more read the given article to know about the Axis bank Indian Oil card features and benefits.
Speed up with Axis bank Indian oil card The credit card brings a 100% cashback on all fuel transactions made within 30 days of the card issuance. You can get this benefit on your Axis Bank Indian Oil card if you spend INR 250 and above on fuel payments. And a valueback of 4% will be credited if you spent INR 100 and above on any Indian Oil corporation fuel outlets. Also, 20 reward points can be earned if you make transactions at IOCL fuel outlets. Not only the fuel benefits are limited to the cashback and rewards but the user will also get a 1% fuel surcharge waiver at every fuel outlet on transaction of INR 200 to 5,000 per month. You can also earn a 1% valueback and 5 reward points on your online shopping. Use the Axis bank Indian Oil card for online shopping to avail the benefits of the card. Make a minimum purchase of INR 100 to 5,000 to avail the benefits. Use the Axis Bank Indian Oil credit card for discounts on movies and dining To get attractive benefits on your dining and movie spends use the Axis Bank credit card. The Indian Oil Axis Bank card provides a 10% discount on your movie tickets from the BookMyShow website or app. And, you can enjoy a perfect dining experience with the partnered restaurants and use your credit card for bill payments that gives a 20% discount on your bills. So, apply for the Axis Bank Indian Oil card and get the benefits of rewards discounts, cashback on a single card. Get the Axis bank Indian Oil card to enjoy its features You can get the Indian Oil Axis bank credit card at a joining fee of INR 500+GST. Visit the bank branch or the official website to apply for the card. The minimum age of the primary cardholder should be 18 years and above and must be salaried. Both the Indian residents and NRIs can apply for the Axis bank Indian Oil card. With the help of the Axis bank credit card, you can save up to INR 53 liters of fuel expense annually. And if you spend a minimum INR 50,000 from your card then the annual fee is waived off for the 2 year. You can pay monthly bills of the card using Axis Bank net banking services. Login to your account select the credit card and set-up the payment service. The benefit of the auto-debit is that the amount will be deducted from your account directly on the billing date of every month. It helps in making timely payments of the credit bills and avoid the late payment issues. Having your own home in a country like India, where prices are beyond the limit for many individuals, is an achievement in itself. Those who face difficulty in purchasing their own homes, there are several lenders who help them through the home loan service at an affordable rate of interest. Among all the lenders, Adhar Housing Finance Ltd. is one of the leading housing finance companies in the current financial market.
But there is a very important part of a home loan facility which many people ignore when they decide to take the loan. The part is known as the Planning for it. How do you plan for it? The primary thing you plan is the EMI amount that you would be paying towards the repayment of the loan. A lot of people forget this and end up skipping their monthly installments due to the unavailability of any estiamte about it. But with the help of the Aadhar Housing Finance EMI calculator, you could easily have a proper guess about the EMI. So in this article, we would be telling you about everything related to this amazing tool so that you don’t have to face what some of the people faced. So don’t stop reading, there’s more to it. What is Aadhar Housing Finance EMI Calculator and how to use it? So, you must be wondering what does an EMI Calculator do exactly? Well, like any other calculator, it helps you in giving you the desired results with the given inputs. Here, the desired result is the EMI amount, but Aadhar Housing Finance EMI Calcualtor does not only give this, but it also gives you total Interest outgo and the total amount payable over the loan period. This calculator works on the following formulae. EMI = [P x R x (1+R)^N]/[(1+R)^N-1] Where P is the Principal Amount that you require for the loan R is the rate of interest for your Aadhar home loan, And N is the number of years that you require But you don’t need to use this complex formula to get your EMI amount, you just have to feed the details into the place, and your output in the form of EMI amount will be generated within a second. Now, let’s talk about the details that you will need to use this tool. There are mainly three details you will need as we already mentioned. Let’s talk about them one by one. Required Loan Amount: With the help of Aadhar Home Loan, you could take upto a home loan amount of INR 1,00,00,000 but you should also remember that you can not exceed more than 80% of the property value. For example, if your property costs of INR 40 lakhs, then you can get a maximum loan amount of 32 lakhs from the Aadhar Housing Finance, the rest 8 lakhs you will have to manage from yourself. Also, the loan amount is only given after the checking your requirement and repayment capacity on the factors like age, assets, liabilities, Income stability, job history, co-applicants income if there is any. So consider all these factors before giving any thought about it. Rate of Interest: This is the most important thing which will decide your EMI amount. If you will get a lower rate of interest, you will have to pay a lower EMI amount, and vice versa. It will also depend upon your overall profile and most importantly, on your CIBIL score. Required Tenure: With the help of Aadhar Home Loan, you could get a loan amount for a maximum period of 30 years, but you must remember that it should not extend beyond the 60 years of retirement age. Choose this period carefully and only according to your requirements. The bank which provides you the top credit cards is ICICI Bank, using the card for your day to day spends you can save and earn. Yes, credit cards usually have an image of higher spending but ICICI credit cards provide benefits of earning with payments. A lot of benefits and privileges are provided to the cardholder and to know about it read the given article.
ICICI credit card Reward Programme When you use the ICICI bank credit card for shopping, online payments, dining or for any other payments a reward point is earned. By collecting as many reward points on your card several benefits can be redeemed. Handpicked reward offers are being provided to customers which include Amazon gift vouchers and more. These reward points come with no expiry date that means, you can redeem the points anytime you want to. The reward points can be redeemed against milestones, gift vouchers and discount vouchers for the specific brand or product. You can visit the bank’s official website to redeem the points of your ICICI credit card. Which are the best ICICI credit cards and why? ICICI Bank offers a wide range of credit cards to the customers but the most popular credit cards are as follows. ICICI Sapphiro Credit Card: This ICICI credit card provides airport lounge access, discount on your dining and shopping. On every INR 100 payment from the credit card, you will earn 2 payback points. One time joining fee applied on the card that is INR 6,500 and gives a welcome benefit of INR 10,000 Travel and shopping vouchers. ICICI Rubyx Credit Card: You can get this credit card at INR 3,000+GST and use it for the daily payments. You can use this ICICI credit card for booking movie tickets via BookMyShow and get 2 complimentary tickets every month. The annual fee for the Rubyx credit card is INR 2,000+GST or 15,000 payback points are given to the cardholder on the anniversary year. ICICI Bank Instant Platinum Credit Card: Zero joining fee and annual fee is charged for the credit card, you can avail this ICICI credit card against your Fixed Deposit. 2 payback points can be earned if you spend INR 100 and above from your card. Also, INR 1,00 discount is available on movie tickets if you use the credit card. How to apply for an ICICI credit card? You can get a credit card from ICICI Bank if you meet the eligibility criteria and have a monthly income of INR 20,000 or above. The existing bank customer can apply for the card by using Net banking services. Visit the ICICI Bank official website log in to your account select a credit card and click the “Apply Now” button. Fill up the credit card online application form and submit it to the bank. And if your application is approved you will get notification of the registered number. And users can track the credit card status using the bank online service, just enter the application number to do so. Now get your ICICI credit card today and earn from your spending using credit card payments. |
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Anika Sharma
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