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Best Credit Cards In India for Different Income Groups



credit card interest rate
Credit card interesst rate

Make sure to keep a check on the minimum income, before you apply for a credit card. Make sure to do so, otherwise it might lead to your application being rejected. The minimum income requirements differ from the type of lender you will be receiving the credit card from. Comparatively, a credit card has the criteria to have a specific income, whereas a premium card would require the income requirements which needs to be a higher amount. 

A lot of people raise concerns on the types of credit cards that are appropriate for their income group. For people who earn below INR 25, 000 can receive approval for credit cards catering to SBI SimplyCLICK and HDFC MoneyBack. They are also charged with a lower fee and are accustomed to basic features, including spend-based fee waiver, rewards and EMI conversion facility. This way, they will be able to avail the bank-specific offers on other brands and e-commerce websites.

Credit CardFeeMinimum IncomeFeatures
SBI SimplyCLICK Credit CardINR 499INR 20, 0005X on online expenditure and 10X reward points on online expenditure with exclusive partners
HDFC Times Titanium Credit CardINR 500INR 15, 00025% discount on cinema tickets
HDFC MoneyBank Credit CardINR 500INR 13, 5002X Reward points on online expenditure
ICICI Bank Coral Contactless CardINR 500INR 20, 0002 movie tickets on a complimentary tickets each month from BookMyShow

For people who earn between INR 25, 000 – INR 50, 000, the annual fee would be up to INR 3, 000. If you are someone who associates their lifestyle with expenditure, the following credit cards are suitable for you. They offer you bonus points on dining and shopping, along with two free airport lounge passes. Airmile earnings, foreign exchange markup fee and complimentary lounge passes are some of the benefits that will make you feel on top of the world.

Credit CardsFeeMinimum IncomeFeatures
SBI Card PRIMEINR 2, 999INR 32, 000Gain 20 points on every time you spend INR 100
HSBC CashbackINR 750INR 33, 3331% cashback on all of your spendings
RBL World SafariINR 3, 000INR 25, 0000% Forex markup fee
Air India SBI Platinum CardINR 1, 4999INR 40, 000Gain 15 points on every time you spend INR 50

For those who earn between INR 50, 000 – INR 1 Lakh, you can easily avail for premium and super-premium cards. They come with a set of benefits, catering to low foreign exchange markup fee, bonus points, free airport lounge passes and much more.

Credit CardsFeeMinimum IncomeSuitable for
Standard Chartered Manhattan Platinum Credit CardINR 999INR 90, 000 p.m.Rewards and Cashback
HDFC Regalia Credit CardINR 2, 500INR 70, 000 p.m.Travel and Shopping
SBI Elite Credit CardINR 4, 999INR 60, 000 p.m.Travel and Shopping
ICICI Sapphiro Credit CardINR 3, 500INR 9.6 Lakh p.m.Travel

For those people who earn an income of above INR 1 Lakh, premium credit cards are for you. You will feel overwhelmed with the benefits offered, including lounge passes, attending free golf sessions and if you are an international traveller or a shopaholic, these cards are a suitable match.

Credit CardsMinimum IncomeFeeSuited for
YES Premia Credit CardINR 1.44 LakhINR 1, 599Travel
American Express Platinum Credit CardINR 2.08 LakhINR 60, 000International Travel
HDFC Bank Diners Club Black Credit CardINR 1.75 LakhINR 10, 000Travel

You might have had a clearer view on the type of credit card acceptable for your income group. 

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What You Need To know About Gold Finance



gold finance

A gold loan is one of the types of secured loan that you can get as collateral with a lender by pledging gold ornaments or NBFCs. In exchange, the lender will give you a loan sum depending upon your gold’s market value. And your gold is returned after you have finished repaying the loan sum and interest post your chosen term.

Let us understand the various aspects of gold loans and how it can help you meet your financial requirements.

Type of gold forms you can pledge:

You can pledge gold ornaments in both banks & NBFCs, and the purity of gold or gold value will decide the principal loan amount. Remember that banks do not allow gold finance for gold bars, coins, or bullions and opt for jewellery instead. 

How to avail a loan for gold?

The financial institutions will measure the gold’s purity when you take the gold to a lender and inform you of the loan sum you can borrow. The amount can be up to 75 per cent of the gold value, as per RBI guidelines. Additionally, as per the bank’s rules, the borrower must pay a transaction fee to avail the gold loan. A borrower can also use the gold loan calculator to know the loan amount, tenure, interest rate, etc.

Gold safety:

With an unlicensed bank or NBFC, there is a high risk of misplacing or swapping your gold jewellery. That is why applying for gold finance from a reputable lender is advisable and preferred. You don’t have to think about protecting your gold with a popular and trustworthy lender, as it’s locked in a vault. 


As a borrower, you need to submit the below documents to avail gold finance:

  1. Passport photo
  2. Identity proof(passport, driver’s license, Aadhar card)
  3. Address proof(electricity bills, phone bills, smart card etc.)


Any Indian national above eighteen years of age can apply for a gold loan with a bank/NBFC. One of the prerequisites would be to visit the lender’s website and understand the terms and conditions before applying for a gold loan. By that way, you can also use the gold loan calculator available on the website to know the details of the loan. 

Processing time:

The digital age had made the loan processing more comfortable for the gold lenders to disburse the loan amount directly to the borrower once the lender assesses the gold purity and verifies the documents. 

Rate of interest:

Note that the interest rate on gold loans is comparatively lower than those of credit card loans, mutual fund loans, personal loans, etc. NBFCs are in particular flexible with interest rates on gold finance to the borrowers with better qualifying criteria. Usually, the interest rates on gold loans will increase with the increase in the principal amount. 

Tenure/repayment phase:

Bullet schemes allow you the right to repay any amount at any point during the tenure of the loan. You can also opt to repay the principal sum and interest in several instalments. It gives the facility to repay monthly interest and repay the principal balance amount during closure according to your convenience. There are also part payment and part withdrawal facilities by paying the appropriate sum. There are multiple variants of bullet systems designed to suit the cash cycles and needs of different consumer groups, and you can select one that suits you the best. 

Additional charges/fees:

Some of the costs you might incur would be the extra charges like processing fees, pre-closure charges and valuation fees. To look fair on the surface, some lenders may not report these costs. Hence while you use the gold loan calculator to know the loan details, you also might want to know about such additional charges.

Missing the repayment phase:

As a borrower, you must consider your repayment potential before applying for a gold loan. In the unfortunate circumstances of default, the lender has the right to sell your gold to recover the remaining loan sum.


Gold loans are one of the most common forms of lending instruments that can help the borrowers meet their urgent financial requirements. However, the borrower must look out for the best lenders in the market before finalizing the lending partner. 

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Benefits Of Personal Loan To Repay Debt



A personal loan is one of the most user-friendly financial products available in the market. The main advantage of a personal loan is that you can use it for any purpose. Unlike other loans, which have a specifically defined end-use, personal loans give you the freedom to use the funds in whichever way you deem fit.

The personal loans segment has also steadily increased in India. Owing to this, many banks and NBFCs have entered the segment. The healthy competition among them has ensured that the customers get lower interest rates and attractive deals. It has even led to simpler documentation and faster disbursal.

Personal loans now even have a higher approval rate as the financial institutions have improved their processes and relaxed their rules. The advancement in technology has also ensured that consumers can apply for a personal loan online.

If you are caught in debt, a personal loan may relieve you of your financial stress. Generally, we approach and borrow from our friends or family to settle our debt. However, that may not be the best practice. A personal loan gives you higher financial freedom without hampering your relationship with them.

Below are a few advantages of using a personal loan to pay off your debt

  • Convenience

    A. When you apply for a personal loan, you can decide on your monthly payout. Based on your eligibility, you can decide on the principal amount you wish to borrow. Scourge the market for the lowest interest rate on offer. This way you can decide on an affordable and low EMI.

    B. There is no collateral involved while applying for a personal loan. In the present digital era, you can even apply for a loan online without having to step out of your home.

  • Obligation
    A. Further, in case you miss out on paying any monthly installment, it will just add up to your loan amount. Compared to an embarrassing situation of explaining your default to a friend or family, this is a more convenient option.

    B. The obligation of a personal loan is fixed. Your monthly EMI, which is convenient, and affordable to you, is chosen by you. Unlike borrowing from a person wherein you have to work out a deal keeping in mind their relationship with you.

  • Consolidated debt

    A. If you have too many high-interest loans, opting for a personal loan with lower interest will be economically more beneficial. It will help consolidate all your debt. Thus, you will only have a single loan outstanding with a comparatively cheaper rate.

You can pay off your entire debt, and you will be left with only a personal loan. As you have decided on your EMI, it will not be a strain for you.

B. It will also help improve your credit score. Further, it will help you manage your monthly expenses and leave you with enough cash regularly.

  • Credit Card Debts
    A. A credit card is a form of unsecured loan. Hence, they will have a high-interest component. Credit cards are an extremely useful and attractive option. However, they need to be used with certain discipline and care. Further, failing to pay your outstanding on the due date of your bill may even lead to extra charges such as late payment and processing fees.

    B. In case you are caught up in a credit card bill outstanding, it will keep piling on more interest. To avoid this situation, you can apply for a personal loan and pay off your credit card bill outstanding. This way you would have a low-interest debt that will take care of any high-interest loans and additional fees.

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Why Accounting is Important for Students




What is Accounting?

Accounting helps students to determine how much money they plan to save for the unpredictable costs of the study and how money can be produced for certain types of expenses. Accounting allows students to solve their financial difficulties in this way. The Accounting course may be seen as learning-to-learn practice and as a key part of business education. Accounting methods are vital as a key part of the data processing device, Managerial Accounting Assignment Help, offering deeply important data about an enterprise’s prior knowledge. The purpose of accounting is to offer insight into the key consequences of effective management decisions.

Accounting is, therefore, the key process of recording financial transactions intended for a business. The key objective of accounting education is to help the students to develop highly professional accountants. The teacher must often mix philosophy with the key practice and show the course contact with non-accounting courses. One of the easiest ways of investing in education may be to try a career as an accountant. Graduate students have all too frequently celebrated their achievements of achieving their bachelors, masters, or even Ph.D. degrees without understanding either or not the degree for which they have worked so hard would return their investment.

Why Accounting Is Important?

Accounting is the basis of business in many respects. Its purpose is to monitor a business’s finances, from debits, credits, and profitability to payroll and tax filing, in their various forms. It is a field guided by empirical and analytical perceptions and offers a company with a record of its financial success and wellbeing with the knowledge obtained from such functions. In both the long and short term, financial results from this information may guide an organization’s strategies. In the accounting industry, there are main occupations that work together to drive an organization towards long-term constancy.

For instance, accountants are generally charged with studying financial reports to confirm consistency and to recognize financial inadequacies, and they are often usually tasked with monitoring the research of corporate taxes. Controllers frequently manage the accounting department, from the key departments to business expenses like accounts payable to secondary accounts such as payroll. Henceforth, Chief Financial Officer (or CFO) is an executive responsible for monitoring the financial health of an organization and using the data to plan current and potential growth strategies.

Accounting obtains the details needed at a high level to make critical economic choices. To see what is going on for the business, what requires improvement, and whether they are on track to profit, corporate executives can look at many different financial reports. Using this data, managers will determine the places to prioritize and where to use extra money in the future. Accountants also inspect and supervise internal problems such as fraud and excessive spending and are eligible to save money for corporations while being in accordance with regulatory regulations.

Accountants Have a Better Understanding of Finances

Accounting is an effective course to study for various reasons. Accounting offers students with knowledge and skills that are applied to many industries. In addition, accountants will thus be needed as long as there are many corporations in the world. Accountants obtain the sort of experience many individuals can pay for after years of learning the art of controlling money. Having an accounting degree provides a wide variety of expertise to students beyond financial management and reporting; the accounting programme also involves fiscal and monetary policy, market and tax law, financial analysis, the study of spreadsheets, management, banking and finance supervisory skills. Such skills are important to every job career, and this suggests that employers will benefit greatly from job applicants who have these skill sets. Other occupations, like fund managers, financial planners, banking professionals, and others, may also apply accounting skills.

The Growing Demand for Accountants

There are no assurances that anyone can land a job after they have completed their degree, as previously described, but it is worth mentioning that the demand for accountants is incredibly consistent. It is thus considered to be a major driving force of the economy because accounting involves handling capital. To control its finances, any organization requires at least one accounting professional; in some instances, large companies will hire accounting departments with lots of staff at companies around the country. It is fair to say that the market for accountants will grow in the 21st century and even beyond.

The Ability to Start Your Own Business

It is not unusual for accounting professionals to become businessmen; this often happens after many years of on-the-job experience while accountants have created a good amount of key business contacts. After many years of networking, accountants often feel more comfortable using the connections they’ve established to begin their own company. The options are limitless when it comes to financial services, consulting or specializing in tax accounting and representation.

Create Budget and Future Projections

In running a business effectively, accounting plays an essential role as it helps you to regulate expenses and sales, ensure statutory execution, as well as offer quantitative financial data to management, investors, and government that is being used in the entire business decision-making. Budgeting and key future predictions may create or break a business, and while it comes to it, the financial records may play an essential role. To keep the business activities profitable, market forecasts and patterns are focused on ancient financial data. When given by well-structured accounting systems, thus this financial information is most suitable.


In conclusion, accounting is a good career option for students. Accountants play a stable rate of employment rather than fluctuations in the economy. Although accounting professionals gain decent compensation for their better services. Due to many reasons, accounting is the perfect key course in the study. Accounting provides key expertise and information for students that may often be applied to a variety of industries. In reality, finance essay writing service, accountants will thus be vital as long as there are companies throughout the globe. The easiest way to kick-start the profession is to get an accounting degree, but before students decide to start training, it’s worth noting the main.

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