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Millennials are the people who were born between the early 1980s and mid-1990s, and they represent a large portion of India's population. As they are growing older, they are realising the significance of financial planning and securing their future.
Managing finances can be difficult due to lack of information and experience. In this article, we will discuss the top 10 essential financial products for millennials in India that can help them to make financial planning easier and ensure long-term financial stability.

**1. Savings Bank Account :** First and foremost, a savings bank account is the best place to save money and earn interest that every millennial in India should have. It's the safest and most reliable way to keep your hard-earned money, earn interest, and easily access it when required.

**2. Fixed deposit:** Creating a fixed deposit is also popular among Indian millennials. It's a low-risk investment option that offers higher returns than a savings account. In 2023, you should consider a secured credit card, which allows you to use your FD money and earn a 7% return on it. There are several lifetime-free credit cards that also offer great cashback on all transactions, making them a highly beneficial way to manage your finances and maximize your returns.

**3. Credit Cards:** Credit cards are also a must-have financial product for millennials in India as they provide a convenient and secure way to make purchases, build credit history, and earn best rewards points that can be redeemed for various benefits. It is easy to get credit cards in India if you have a good credit score. 

**4. Health Insurance:** For Indian millennials, having health insurance is crucial because it offers financial security against unforeseen medical costs and ensures access to quality healthcare. It's an essential financial product that provides peace of mind knowing that you are financially protected and can receive the necessary medical treatment when needed.

**5. Life Insurance:** For Indian millennials who have dependents, life insurance is an important financial product to consider. It offers financial security to their loved ones in case something unexpected happens to them. Having life insurance ensures that their family will be taken care of financially in the event of their untimely passing.

**6. Mutual Funds:** Mutual funds can be a smart investment choice for millennials. With the prevalence of smartphones, there are many apps available that provide comprehensive details about various funds, including projected returns and performance history. If you're looking for a long-term investment option, mutual funds can be a good choice.

**7. Public Provident Fund (PPF):** PPF is a long-term investment option that provides tax benefits to Indian millennials. It's a secure investment option that offers higher returns than fixed deposits.

**8. National Pension System (NPS) :** NPS is a government-backed retirement savings scheme that Indian millennials can opt for. It provides tax benefits and assists them in saving for retirement.

**9. Gold:** Gold is a well-liked investment option among Indian millennials. It's a secure investment option that can help them diversify their portfolio.

**10. Real Estate:** Real estate is a long-term investment option that Indian millennials can consider. It provides the potential for long-term capital appreciation and rental income.


Indian millennials need to invest in these 10 financial products to ensure they are financially secure and can achieve their goals. However, they should understand their financial needs and goals before investing in any of these products.


To find the most suitable financial products, such as credit cards, savings accounts, and more, millennials can [<u>install the ZET App</u>](https://play.google.com/store/apps/details?id=in.onecode.app) and easily discover them. The ZET App can also be used as a passive income source, allowing millennials to earn extra income by referring financial products to their colleagues, family, or friends

**Looking for the best zero balance account option in India?**

Consider checking out the following:
- Kotak 811
- AU Small Finance Bank
- Axis Digital Saving Account
- Yes Bank Digital Savings Account

If you want to explore more options and what they offer, the ZET App can provide you with a detailed list. 


10 Must Have Financial Products for Millennials in India

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Indian financial systems offer various loan options to meet diverse financial needs, from purchasing a new car to expanding a business. However, with so many options available, it can be overwhelming to understand the differences between each loan type and choose the one that best suits your needs. This blog provides an overview of the various types of loans available in India, helping you make an informed decision about your borrowing needs from lenders.

**Different Types of Loans in India**
Based on the security provided, loans can be of two types:

**1. Secured Loans:** A secured loan is a loan that requires you to pledge collateral. The pledged collateral is security in case the borrowers default on repayment. The lender holds the right to seize the collateralized asset to recover the loan dues. Typically, due to this security lying with the lender, the interest rate for the borrower is comparatively lesser.

**2. Unsecured Loans:** On the other hand, unsecured loans do not require collateral. The loan eligibility and terms are primarily based on your credit score, income, and repayment capacity. Due to the inherent default risk for the lender in an unsecured loan, the interest rate is comparatively higher. You can sell unsecured loans like personal and business loans while [earning on the ZET app](https://play.google.com/store/apps/details?id=in.onecode.app).

**Different Types of Secured Loans in India**
Now that you are aware of what is a secured loan, let’s see some of its examples-

**1. Home Loans:** Being an Indian, everyone aspires to own a home. However, it can be difficult to build one without a home loan. Home loans are secured loans that are used to purchase a house or apartment where the property is used as collateral for the loan. The interest rate for a home loan can be comparatively lower than an unsecured loan. It is typically for a long-term period, usually up to 30 years.

**2. Car Loans:** Car loans are used to finance the purchase of a new or used car. These loans are secured, with the car serving as collateral for the loan. Car loans typically have shorter repayment periods than home loans. A vehicle loan is a more broad term for a loan taken to buy any vehicle.

**3. Gold Loans:** Unlike the above two examples, a gold loan is not what the name suggests. Gold loans are secured loans that are given against the collateral of gold for almost any purpose. The loan amount is usually a percentage of the gold's value which according to the RBI guidelines can go up to 90% of the gold value. Gold loans are typically short-term loans and have a high-interest rate.

**4. Loan against Property:** A loan against property or LAP is a secured loan that is given against the collateral of a property. The loan amount is usually a percentage of the property's value. One of the distinguishing features of a LAP is that it can be used for any purpose, such as business expansion or debt consolidation.

Apart from the above, you can avail of loans against your insurance policies, provident funds, fixed deposits, mutual funds, and shares.

**Different Types of Unsecured Loans in India**
Now that you are aware of what is an unsecured loan, let’s see some of its examples-

**1. Personal Loans:** Personal loans are unsecured loans that you can use for any purpose, such as medical expenses, home renovation, or travel. The interest rates on personal loans highly depend on your creditworthiness and repayment capacity. 
Business Loans: Business loans can be secured or unsecured and used to finance business operations or a new venture. [ZET app ](https://play.google.com/store/apps/details?id=in.onecode.app) allows you to sell personal and business loans through which you can earn up to ₹3,800 on every sale.

**2. Education Loans:** Education loans are used to finance the cost of higher education, such as tuition fees, accommodation expenses, and books. They are typically unsecured loans and can have a longer repayment period, depending on the amount borrowed. While typically education loans are unsecured, in some cases, lenders can ask for collateral or a guarantor before approving the loan.

**3. Agricultural loans:** This type of loan is specially offered for farming-related activities. Financial institutions in India provide monetary aid to farmers with varied schemes.

**4. Flexi Loans:** A unique loan where you can borrow money from a pre-approved credit limit, which can be used as per their requirements. You can withdraw any amount within the credit limit as and when needed, and only pay interest on the amount withdrawn.

**Secured vs. Unsecured- which is best for you?**
Your decision to avail of a secured or unsecured loan should ideally depend on your financial situation and needs. You should keep the following differentiating factors in mind-

![Screenshot 2023-05-24 101840.png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Screenshot_2023_05_24_101840_d09939bdb9.png)

You should consider the above factors and choose the best according to your financial capacity, and requirements. You can opt for a secured loan in case you have the resources and want an instant loan and don’t want to wait for an unsecured loan’s longer procedure.

**Frequently Asked Questions**

**Q.1: What is a loan-to-value ratio?**

Ans: Loan-to-value ratio (LTV) is a metric for determining the loan amount and the appraised value of the asset being used as collateral for a secured loan. For example, LTV for a gold loan is up to 90%. It means you can borrow up to 90% of the value of the pledged gold.

**Q.2: Is there a cap on the loan limit for all types of loans?**

Ans: From 2021 onwards, the maximum loan limit has been increased from Rs. 25 lakhs to Rs. 5 crores.


9 Different Types of Loans in India

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Credit cards have become a huge part of our financial lives, don't you agree? Nowadays, with the rise of digital payments, more and more people are using credit cards. And you know what? One of the major reasons people prefer to have a credit card is because of the rewards they offer!

In India, various banks and financial institutions offer [different types of credit cards](https://play.google.com/store/apps/details?id=in.onecode.app), each with their unique reward programs. However, with so many different reward offerings available, many people are often confused about how these rewards work and how to make the most of them. 

In this article, we will guide you through everything you need to know about credit card rewards and how they can help you save while you spend. Sounds good? Let's get into it!

**What are Credit Card Rewards?**

To put it simply, you get rewarded every time you make a purchase with your credit card. These rewards can come in various forms such as cashback, reward points, discounts, and other benefits. The more you use your credit card, the more rewards you can earn. It's a win-win situation!

**Types of Credit Card Rewards in India:**

**1. Cashback:** Whenever you use your credit card to make a payment, you get a percentage of the purchase price back in the form of cashback. For example, let's say your card gives you 5% cashback on all your purchases, and you spend Rs. 10,000. That means you get Rs. 500 back as cashback! You can either redeem your cashback as actual cash or credit it to your bank account at the end of each billing cycle. 

**2. Reward Points:** This is one of the most common types of credit card rewards. You can earn a certain number of reward points based on the payment you make via your credit card. For instance, if your credit card offers one reward point for every Rs. 100 spent, and you spend Rs. 10,000 on your card. That means you get 100 reward points! And the best part? You can redeem these points for various rewards, like discounts on shopping or dining, gift vouchers, air miles, and much more. 

**3. Air Miles:** Are you someone who loves to travel? Well, then you might want to check out credit cards with travel rewards which you can use to get some awesome perks like free flight tickets, upgrades, or other travel-related benefits. You can even use your air miles rewards to book hotels. 

**4. Other Rewards:** Some credit cards offer bonus rewards for specific types of spending, like dining or travel. And that's not all - some cards also come with other awesome rewards, like free movie tickets, hotel stays, and more. These rewards are often part of special promotional offers or exclusive features of the credit card. 

**How to choose the best rewards card for you?**

Most of the credit cards offer exciting rewards programs, and it can be confusing to pick the one that is best for you. Choosing the right rewards offering that matches your spending habits and budget can be a real game-changer! It can not only help you pay off your credit card bill, but also make your favourite things more affordable. 

**How to Earn Credit Card Rewards in India?**

Now that you know about the [different types of credit card rewards available in India](https://play.google.com/store/apps/details?id=in.onecode.app), you're probably wondering how to actually earn them. Well, it's pretty simple - all you need to do is use your credit card for your everyday purchases.

Here are some ways to get started:

**1. Choose a rewards credit card:** Look for a credit card that offers maximum rewards and sign up for one that fits your lifestyle and spending habits.

**2. Spend regularly:** To maximise your rewards, use your credit card for all purchases, including groceries, dining, bills and more.

**3. Make large purchases:** Some credit card issuers offer bonus reward points for large purchases or for meeting specific spending goals. Check your card's terms and conditions for details.

**4. Track your rewards:** Keep track of your credit card rewards and their expiry dates to ensure that you use them before they expire.

**5. Check for bonus offers:** Some credit cards offer bonus rewards points or cashback for certain types of purchases or during certain periods of time. Keep an eye out for these offers and take advantage of them when you can.

Credit card rewards can be redeemed for various options such as statement credit, merchandise, gift vouchers, travel bookings, and more. It's important to check the redemption options available and choose the one that suits you the most.

However, to be eligible for credit card rewards, you usually need to have a decent credit score of at least 670. But don't worry if your score is lower than that - you can still work on improving it by using secured credit cards. Secured credit cards are backed by a fixed deposit and help you build your credit score. So, if you're eager to start earning rewards and reaping the benefits, get yourself a secured credit card & start shopping instantly!


[Apply for the best credit cards](https://play.google.com/store/apps/details?id=in.onecode.app) available on the ZET app today and start earning amazing rewards every time you use your card. Through ZET, you can easily discover a credit card that matches your unique needs and helps you maximise your rewards.

**FAQs:**

**1. Do we need a credit score to earn credit card rewards?**

Yes, in most cases, you need a good credit score to earn credit card rewards. However, with secured credit cards, you can earn credit card rewards even with a low credit score.  

**2. Which is the best credit card that offers rewards in India?**

Here are some of the most rewarding credit cards in India:
- SBI Prime Credit Card
- Standard Chartered Platinum Rewards Credit Card
- American Express SmartEarn™ Credit Card
- IDFC FIRST Select Credit Card
- HDFC Regalia Credit Card

You can find more options along with their offering on the ZET App.

Understanding Credit Card Rewards in India: Your Key to Increasing Your Savings

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In India, personal loans are a popular way to access quick funds for various purposes such as home renovation, medical expenses, travel, wedding finance, or debt consolidation. However, getting a personal loan is not as simple as it may seem. There are several factors that need to be taken into account to ensure that one gets the best deal and is successful in avoiding any pitfalls. 

Here are five common mistakes to avoid when applying for a personal loan:

**1. Not checking your credit score in advance:**

One of the most common mistakes people make when applying for a personal loan in India is not checking their credit score beforehand. Your credit score is an essential factor that determines whether you qualify for a loan and the interest rate you are eligible for. A low credit score may result in the rejection of your loan application, or you may get a higher interest rate. Therefore, before applying for a personal loan, make sure you check your credit score. You can [log in to the ZET app](https://play.google.com/store/apps/details?id=in.onecode.app) and check your credit score for free without any hassle. A good credit score for loan will increase your chances of getting a loan at a lower interest rate. If your score is low, you can take steps to improve it, such as paying off outstanding debts or credit card bills.

**2. Applying for multiple loans simultaneously:**

Another mistake people make is applying for multiple loans simultaneously. This is not a good idea as it can negatively affect your credit score and reduce your chances of getting a loan. Each time you apply for a loan, it is recorded in your credit report, and multiple applications can signal to lenders that you are desperate for funds. In order to find the right lender for your needs, research the various lenders and their interest rates before applying for a personal loan. Applying to multiple lenders can also result in multiple rejections, which can damage your credit score.

**3. Not comparing interest rates and fees from different lenders:**

Different lenders of personal loans offer varying interest rates, processing fees, and repayment terms. Failing to compare these factors can result in higher interest rates and fees, making your loan more expensive in the long run. You need to choose a low interest loan that is affordable and suitable for your financial behaviour. Before applying for any loans, research the different lenders and compare their interest rates and fees. You can use online comparison websites to make this process easier. Additionally, ensure you read the terms and conditions carefully to understand any additional charges that may apply.

**4. Not reading the fine print before signing the loan agreement:**

The loan agreement contains crucial information about loan terms, interest rates, fees, and repayment terms. Failure to read and understand these terms can result in unexpected charges or penalties. So, before signing the loan agreement, read and understand the terms and conditions carefully. If you have any doubts, clarify them with the lender before signing. Ensure you know the exact repayment amount, the interest rate, and any additional fees.

**5. Borrowing more than you can repay:**

Personal loans are easy to access, and the temptation to borrow more than you need can be high. However, borrowing more than you can repay can result in a debt trap, affecting your credit score and financial stability. Calculate your expenses properly and determine the amount you need before applying for a personal loan. Additionally, ensure you can comfortably repay the loan amount within the loan term without affecting your finances negatively by calculating the loan EMI amount. You can use the [free loan EMI calculator on the ZET app](https://play.google.com/store/apps/details?id=in.onecode.app). 

Applying for a personal loan in India can be a useful way to access quick cash for various purposes. However, one needs to exercise caution. It's essential to avoid these common mistakes to ensure you get the best deal. You can make the most out of your personal loan and achieve your financial goals but remember to be responsible with your finances and plan your repayments accordingly.

**FAQs:**

**1. What is a personal loan?**

Personal loans are unsecured loans offered by banks or financial institutions to individuals for various purposes such as home renovation, medical expenses, travel, or debt consolidation.

**2. How can I improve my credit score?**

You can improve your credit score by paying off outstanding debts or credit card bills, ensuring timely payments of bills and loans, and maintaining a healthy credit utilisation ratio.

**3. Can I apply for a personal loan with a low credit score?**

Yes, you can apply for a personal loan even if you have a low credit score, but your chances of approval may be low, and you may end up paying a higher interest rate.

**4. What factors should I consider before applying for a personal loan?**

Before applying for a personal loan, you should consider your credit score, the interest rate and fees charged by the lender, the repayment terms, and the amount you need to borrow.

**5. Can I apply for multiple personal loans at the same time?**

Actually, you should only apply for one personal loan at a time. Applying for multiple loans simultaneously can negatively affect your credit score and reduce your chances of approval.

**6. How can I choose the right lender for a personal loan?**

You can choose the right lender for a personal loan by researching various lenders, comparing their interest rates and fees, and reading the terms and conditions carefully. You can also use online comparison websites to make this process easier.



5 Common Mistakes to Avoid When Applying for a Personal Loan in India

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Credit cards have made their way into the lives of people residing in almost every part of the country.  A credit card offers numerous benefits to users such as cashback, rewards, and discounts on various purchases. However, to be able to avail of maximum benefits, individuals need to maintain a good credit score. In this article, we will help you understand the most crucial part of credit- the credit score, and how your credit card usage impacts it.

## What is a credit score?

A credit score or CIBIL score is a three-digit number that indicates your creditworthiness. It ranges between 300 and 900 in India, 900 being the highest. A good credit score reflects your ability to repay debts on time, which can help you access credit facilities like credit cards, loans, and mortgages with favorable terms and conditions.

## How is credit score calculated?

Credit bureaus, such as CIBIL (Credit Information Bureau (India) Limited), Experian, Equifax, and CRIF High Mark calculate your credit score. These authorized bureaus use complex algorithms to calculate your credit score. It depends on factors like credit card usage, loans, and repayment behaviour. There is no fixed formula that is used for calculating a credit score. Different credit bureaus have different algorithms and hence, your credit score may vary for each credit bureau.

You can check your credit score on the above-mentioned bureaus’ website easily. You just need to enter your PAN card and basic information and you’ll receive your credit report. In India, you are entitled to one free credit report and score from each credit bureau once a year. You can also <u>_[check your free credit score through the ZET app](https://play.google.com/store/apps/details?id=in.onecode.app)_</u>.

## How does credit card usage impact your credit score?

**1. Payment history:** The most crucial factor that impacts your credit score is your bill clearance history. Late payments would not only impact your credit score but may also cost you an additional late fee.

**2. Credit utilization ratio:** The credit utilization ratio is the percentage of the credit limit an individual uses. A higher credit utilisation ratio can indicate a high credit risk and can negatively affect the credit score. Typically, you should use less than 30% of your credit limit.

**3. Credit history:** Credit history is the length of time an individual has been using credit facilities, such as credit cards and loans. A longer credit history can positively impact the credit score.

**4. Credit mix:** Credit mix refers to the different types of credit facilities an individual uses, such as secured loans, unsecured loans, and credit cards. A diverse credit mix can have a positive impact on the credit score.

**5. Recent credit inquiries:** Recent credit inquiries can also affect credit scores. Multiple credit inquiries within a short period can negatively impact the credit score.

## How to improve and maintain your credit score?

A healthy credit score is a must to obtain credit with favorable terms and conditions. To improve and maintain a good credit score, you must follow the below suggestions-

**1. Avoid late payments or defaults:** You must ensure timely payment of your credit card bills or loan EMIs to maintain and enhance your credit score. Defaulting on your deadline can impact your credit score negatively.

**2. Stay within your credit limit:** Credit card companies in India provide a credit limit on your credit cards. It is important to stay well within your credit limit to keep up with a good credit score. It is recommended to keep your credit utilisation below 30% of your credit limit.

**3. Review your CIBIL report periodically:** This is one of the most critical factors affecting your creditworthiness. You can check your credit report for inaccurate or incorrect information shown on your credit report. If there is a name mismatch or the changed address is not updated, you can dispute it to resolve the issue. This exercise will help you improve your CIBIL score.

**4. Manage a good credit mix:** A good mix of both secured & unsecured loans is essential for a good credit score as the risk factor will give you better credit in return. A healthy loan mix does not see applicants as risky borrowers, so banks stay out of trouble.

**5. Avoid frequent or multiple inquiries:** Do not apply for multiple loans at the same time. This shows your credit-hungry behaviour towards the lender. Frequent loan applications adversely affect your credit score and increase the likelihood of loan denials. Therefore, apply for a new loan only if you need it. 

## How to start building a credit score?

You require a credit history to build your credit score and require a credit score to get credit. So how do you build it in the first place? Well, there are multiple ways to build your credit score. One of the easiest ways to build your credit score is by having a secured credit card. 

A secured credit card is a credit card that requires the applicant to give an asset as security. This asset is known as collateral and is typically a Fixed Deposit (FD) or gold. 

Secured credit cards are one of the best ways for New-To-Credit (NTC) customers to start building their credit scores and maintaining healthy credit scores. 


### Frequently Asked Questions

**Q.1: Can I get a loan without a credit score?**

Ans: You can opt for a secured loan without a credit score. Paying off the loan on time will help you build your credit score, and make you eligible for an unsecured loan.

**Q.2: What is a credit limit?**

Ans: A credit limit is the maximum amount of credit a financial institution allows a customer on a credit card or line of credit.

How Credit Card Usage Makes or Breaks Your Credit Score?

![Credit History.jpg](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Credit_History_4acdab9346.jpg)

Every time there is a sale by one of the e-commerce giants, there begins a scramble for credit cards. Be it the ‘big billion day’, ‘end of reason sale’, or ‘the great republic day sale’, what makes these discount carnivals even more exciting is the mind-blowing deals by various financial planners and partners.

In fact, in the last few years, the demand for credit cards created by such pull factors have led to a lot of ‘new to credit’, or NTC users coming under the credit net. 

However, with this shift in consumer behaviour, it is of utmost importance that as individuals we understand how credit works and how to adopt healthy financial habits that will increase our credit worthiness.

### Understanding Credit

So, what is credit? Put simply, credit is a loan. The kind of credit one is eligible to get depends on his/her credit score. The higher your credit score, the more creditworthy you are from your lender’s perspective.

One of the quickest means of availing credit is to get a credit card. However, most credit cards fall in the "unsecured" category of cards. This means that a credit seeker cannot get a loan without a collateral. Therefore, every card owner must have a good credit score or to get a credit card.

However, if you don't have a credit score, or have a low credit score- say, are a housewife,  retired person, or have just started earning- then what can you do in such a situation? For such users getting a secured credit card, which is typically an FD backed credit card is a good option. 

### How to Build Your Credit Score?

Building a credit score from scratch can be very tricky. This is because you need to have a credit history to build a CIBIL score. However, this turns out to be a paradox as no bank is likely to approve your Loan or Credit Card without an adequate score. 

Here are a few ways to have a good start on your credit profile:

**1. Apply for a consumer durable loan:** If you have never made use of credit before, there will be no history that lenders can refer to, for granting you a loan. However, you can create one easily by getting a consumer durable loan of a smaller amount, e.g. purchase of a smartphone on EMI that can be easily repaid.

**2. Use the pay later option:** This is a popular trend amongst consumers today. If you opt for a pay later option on any quick commerce site, it will be considered as a credit facility and reported to the credit bureau. This will also help you build onto your credit score. 

**3. Apply for a credit card from your salary account:** A bank that already has your salary account is in a much better position to offer you a credit card, primarily because you already have a relationship with them, and have assured earnings. 

**4. Apply for a secured credit card:** A good way to start building your CIBIL score is to get a credit card against a fixed deposit (FD), popularly called secured credit card. Each bank specifies a minimum fixed deposit amount to apply for a secured credit card. The amount in your Fixed Deposit account is directly linked to the total credit limit that will be offered to you on your credit card.

**5. Use credit responsibly:** If you are a salaried individual, you may be receiving offers for credit cards with cash-back benefits and higher credit limits. The key is in knowing which offers will be relevant for you and whether you really need so many credit cards. For a beginner it is advisable to start using one credit card responsibly and create a favourable credit history.

### Inculcating Financial Discipline: Maintaining Healthy Credit Habits

Once you have established a credit footprint, it is essential to follow healthy credit habits in order to maintain a positive credit profile for continued access to credit. 

Here are a few ways on how to inculcate financial discipline:

**1. Checking your credit score regularly:** Many apps like the ZET App help you [check your credit score for free](https://play.google.com/store/apps/details?id=in.onecode.app). Very few users of credit take full advantage of the information contained in their credit profile, also called CIBIL profile. Having a good understanding of your credit information and checking your CIBIL score and report regularly can help you save you time and money, and get ahead in life. This is called Credit Monitoring. Regularly monitoring your CIBIL Profile frequently helps you stay informed of any changes to your profile. 

**2. Applying for credit only when necessary:** Typically, a lender performs a hard enquiry to assess the borrower’s creditworthiness every time he/she applies for credit. There is a high chance that frequent hard enquiries by lenders shall negatively impact your CIBIL Score. By applying for credit only and only when you need it, your score remains much stable and presents an overall view of a responsible credit user.

**3. Paying in full & on time:** One must never avail the option of part payments and accumulate interest on the long unpaid bill. This is harmful to not only your score, but the interest burden can become wildly expensive for the loanee, in the long run.

Always remember that to build a healthy credit profile is like running a marathon. Irrespective  of the methods you may choose, consistency is the key. By creating and following a carefully chalked out and well planned roadmap, you can easily move towards creating your own credit footprint and becoming credit-worthy.

Go [check your free credit score on the ZET App](https://play.google.com/store/apps/details?id=in.onecode.app), and start building your credit future today. 





Building Credit: How to Create Your Credit History From Scratch?

![Afraid of Credit Card.png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Afraid_of_Credit_Card_36fa6a237d.png)

There are many people who are afraid of using credit cards. If you’re one of them, you might find this article helpful. So read on!

This fear of using credit cards is seldom random. More often than not, these are such people who have been defrauded online in the past, or have heard stories of such fraudulent activities like phishing, skimming, cyber attacks and so on from near and dear ones. 

Then, there is also a second category of people called NTC, or New to Credit. These are typically such people who are afraid that having a credit card will lead them into financial trouble, and therefore have never applied for credit cards. They stick to their debit cards and feel safe, away from the credit bubble. 

Then there is a smaller third category of people, who have a poor credit history and stay away from any form of credit line, to prevent their credit score from further going down. 

If you fall in the latter two categories, that is, are new to credit, or have a poor credit history, secured credit cards are perfect for you. 

Secured credit cards are issued by banks and financial institutions, against a fixed deposit and require no prior credit score. These are super helpful to build your relationship with credit and inculcate financial prudence and discipline. The best part- since these are mostly designed for NTC customers, you get instant approval and require no documentation. 

Applying for a secured credit card is as easy as [applying for an unsecured credit card](https://play.google.com/store/apps/details?id=in.onecode.app). It is a quick and simple process and comes with a lot of benefits. For instance, it is designed for people with low or no credit history. It is a great tool if you’re looking to build your credit score. The application process is simple. And in many cases, you get an instant virtual card on activation. 

So next time you hear someone tell you about some crazy discounts they got on their credit card, don’t shun them out completely. Hear all the details and make an informed decision. You might get a good deal out of it. 

### Frequently Asked Questions

**1. What is a secured credit card?**

Secured credit cards are designed for people with poor or no prior credit history and are issued against a bank fixed deposit to lower the risk for the credit card issuers. Getting a secured card is thus one of the easiest ways to improve your credit score while availing the benefits of a credit card like cashback and other rewards. However, if you don't pay your bill on time, the issuer can secure the money from your fixed deposit.

**2. What are the benefits of a secured credit card?**

A secured credit card not only helps you build a better credit score with your timely payments each time your credit card bill is generated but also offers the following benefits:

- Competitive interest on FD to help you earn & enjoy the benefits of a card at the same time.
- Rewards program, which allows you to get discounts on dining, travel, shopping & more.
- Interest-free credit period. This varies from card to card but typically ranges 30-50 days

**3. What is the difference between a secured and prepaid credit card?**

Prepaid credit cards are very similar to bank debit cards. You have to top-up a certain amount of money into your bank account and thereafter, you can spend up to a limited amount with your prepaid card. Prepaid credit cards are considered a good source of instant credit as they don’t require credit checks of any type. Secured cards, on the other hand, are issued against an FD. The FD provides the permissible credit limit to the user. One key difference among both is that prepaid cards cannot be used as a credit-building tool since they do not have any long-term benefits associated with them, while secured cards can. 

**4. Can I be rejected for a secured credit card?**

You are not likely to get rejected for a secured credit card as you are already paying a security deposit in the form of an FD to indemnify the card issuer in case of any irregularities in payment. However, in some cases, the account still may be checked by the card provider. If the user has on record- bankruptcy, a tendency of making late payments, or other suspicious financial activities, his/her application for a secured card may get rejected.



Are You Afraid of Using Credit Cards?

![Do's and Dont's.jpg](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Do_s_and_Dont_s_c409c9a6b7.jpg)

Applying for a loan can be a daunting task, especially if you are not sure about the eligibility criteria, interest rates, documentation, and other aspects of the loan process. However, with some research and planning, you can avoid common mistakes and pitfalls that can lead to loan rejection or higher costs. 

Here are some dos and don’ts that you should follow when applying for a loan in India.

#### Do: Evaluate your need before taking a loan

Before you decide to take a loan, assess the requirement that you need it for. Every loan is a commitment to pay monthly EMIs for the specified term of the loan, which means that it will be an added expense in your future budget, along with interest. Evaluate if the loan you are taking is for a productive purpose or not. For instance, you have unpaid credit card bills to pay off but you are taking a personal loan to fund your vacation. That will just land you in more debt. So, ensure that you use your loan money productively.

#### Don’t: Apply for multiple loans at the same time

Applying for multiple loans at the same time can hurt your credit score and reduce your chances of getting approved. This is because every time you apply for a loan, the lender will make a hard inquiry on your credit report, which will lower your score temporarily. Moreover, having multiple loan applications can indicate that you are credit hungry and desperate for funds, which can make lenders wary of lending to you.

#### Do: Research thoroughly before applying

Before you take a loan from a lender, do some thorough research on all the options available to you. Don’t just blindly go for the first lender who approaches you with a personal loan offer. If you keep a lookout, you have a good chance of finding a lender who may offer you a lower rate on a personal loan with better terms. Also, ensure that the loan you choose suits your requirements.

#### Don’t: Ignore the fine print

Before you sign the loan agreement, make sure you read and understand all the terms and conditions of the loan, such as interest rate, tenure, processing fees, prepayment charges, late payment penalties, etc. Some lenders may have hidden clauses or charges that can increase your overall cost of borrowing or restrict your flexibility to repay the loan. If you have any doubts or queries, ask the lender to clarify them before finalizing the deal.

#### Do: Maintain a high credit score

Your credit score can make or break your chances of getting a loan. Given that these are unsecured loans, the risk involved is much higher for the lender. As a result, the lender will favor applicants who have a higher credit score as this will indicate better repayment capacity of the borrower. A credit score of 750 and above will land you a good chance of getting a personal loan with a lower interest rate and good terms.

#### Don’t: Borrow more than you can afford

One of the biggest mistakes that borrowers make is to borrow more than they can afford to repay. This can lead to financial stress and default in the future. To avoid this, you should calculate your monthly income and expenses and determine how much EMI you can comfortably pay without compromising on your essential needs and savings. Use the free EMI calculator on ZET to find out how much loan amount and tenure will suit your budget.

#### Do: Check your eligibility criteria

Before you apply for a loan, make sure you meet the eligibility criteria of the lender. Different lenders may have different criteria based on factors such as age, income, occupation, credit history, etc. If you do not meet these criteria, your loan application may get rejected or delayed. You can check your eligibility online on the lender’s website or use an online eligibility calculator to find out how much loan amount you can get based on your profile.

#### Don’t: Be careless with documentation

Availing of a loan involves some documentation and it is important to submit documents that are approved by the lender under each category to avoid loan rejection. Some of the common documents required for a personal loan are identity proof, address proof, income proof, bank statements, etc. Make sure you have all these documents ready and updated before applying for a loan. Also, ensure that all the information is provided in the application form.


[Download the ZETapp](https://play.google.com/store/apps/details?id=in.onecode.app) to explore a wide range of financial products such as Business Loan, Instant Loan, and Personal Loan. Find the perfect solution for all your needs on ZET.


Do's and Don’ts for Applying for a Loan in India

![Purple Illustration Business Marketing Blog Banner (3).png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Purple_Illustration_Business_Marketing_Blog_Banner_3_095d05830f.png)

During a financial crisis, many people require immediate financial assistance to overcome their financial difficulties. Even though there are many ways to get money, personal loans are becoming the go-to option for people who are having financial problems. This article examines the [best personal loan app](https://play.google.com/store/apps/details?id=in.onecode.app) and numerous advantages of personal loans, including their adaptability, accessibility, low-interest rates, and straightforward application procedures, which make them an ideal choice for individuals facing financial difficulties.

### 1. Adaptability: 
One of the essential justifications for why individual credits are liked in a monetary crunch is their intrinsic adaptability. Personal loans, in contrast to specialized loans like home loans or auto loans, can be used for a wide range of expenses. Personal loans give borrowers the freedom to allocate the funds in accordance with their individual requirements, which can include consolidating existing debt, covering medical emergencies, financing a wedding, or even going on a stress-relieving vacation.

### 2. Speedy Admittance to Assets: 
In the midst of a monetary emergency, brief admittance to assets can have a huge effect in reducing pressure and settling the main thing in need of attention. Many lenders offer same-day approvals and funds transfers for personal loans, which are renowned for their rapid disbursement. The application process for loans has become even simpler thanks to online applications, which allow people to apply for personal loans from the convenience of their own homes and receive the funds they need quickly.

### 3. Competitive Interest Rates:
The affordability of a loan is heavily influenced by interest rates. When faced with a financial crunch, people need to be able to get money without having to pay high-interest rates that could make their budget even more tight. Interest rates on personal loans are typically competitive, especially for borrowers with good credit. By contrasting rates and picking the most reasonable bank, people can protect individual credit with sensible premium installments, decreasing their monetary weight.

### 4. No Guarantee Prerequisite:
Not at all like got credits that require a guarantee, individual advances are ordinarily unstable, meaning borrowers don't have to give any resource as security. This is especially beneficial for people who may not have a lot of assets or do not want to put their possessions or property in danger in order to get a loan. The shortfall of guarantee in private credits improves the acquiring system and assists the endorsement and disbursal timetables.

### 5. A Quick and Efficient Loan Application Process:
During times of financial stress, people need a loan application process that is quick and easy to complete. This need is met by personal loans that require little documentation and have an easier application process. Borrowers can apply for personal loans online in many cases, saving them from having to fill out a lot of paperwork and make multiple trips to the lender's office. Borrowers are able to quickly obtain the necessary funds' thanks to these simplified procedures, making it easier to effectively manage their financial crisis.

### 6. Flexibility in Repayment:
When a person is in a bind financially, repaying a loan can be difficult because they may be dealing with irregular income or limited cash flow. Individual advances frequently offer borrowers different reimbursement choices and adaptable terms, permitting them to redo their reimbursement plan in light of their monetary abilities. Borrowers are able to manage their monthly payments comfortably and regain financial stability without experiencing excessive stress as a result of this flexibility.

### 7. FICO Assessment Improvement:
Keeping a sound FICO rating is urgent for getting future monetary open doors, for example, getting contracts or getting to other credit offices. Personal loans can help raise a person's credit score when they're in a tight spot financially. People can demonstrate their creditworthiness and build a positive credit history, which can significantly raise their credit score by borrowing responsibly and repaying loans on time. A higher credit score makes it possible to get loans with better terms and more options for borrowing money in the future.

### 8. Obligation Solidification Prospects: 
In circumstances where people wind up troubled by different obligations and attempt to oversee different regularly scheduled installments, individual credits can offer a practical arrangement through obligation combination. People can consolidate their existing debts into a single loan with a fixed interest rate and structured repayment plan by taking out a personal loan. Reducing the number of payments they have to make each month and possibly lowering the overall amount they pay in interest makes their financial obligations easier to manage.

### 9. Privacy and Confidentiality: 
When confronted with a financial crisis, it may be preferable for individuals to keep their circumstances private and refrain from discussing them with friends, family, or acquaintances. Due to the fact that the borrower's financial situation remains between them and the lending institution, personal loans offer the advantage of confidentiality and privacy. This permits people to keep up with their own connections without feeling committed to looking for help from others. In times of financial crisis, personal loans can be a discrete and professional way to get financial help while still respecting one's personal boundaries and privacy.

### 10. Improved Cash Flow Management: 
Unexpected expenses or a brief interruption in income frequently cause financial difficulties. Personal loans can assist individuals in better managing their cash flow in situations like these. By giving quick assets; individual credits permit people to overcome any issues between their monetary commitments and the accessible assets. This can assist in preventing missed payments, late fees, and other penalties, allowing individuals to regain financial control and stability during difficult times.

Personal loans are an appealing option that combines adaptability, accessibility, cost-effective interest rates, and streamlined application procedures when faced with a financial crunch. [Best app for Personal loan](https://play.google.com/store/apps/details?id=in.onecode.app) is a good option for people who need immediate financial assistance because they can be used for a variety of purposes, are easy to get, and have favourable repayment terms. Personal loans also have a lot of appeals because there are no collateral requirements, and you can improve your credit score. Before applying for a personal loan, however, as with any financial decision, borrowers should carefully evaluate their financial situation, compare offers from various lenders, and ensure that they can comfortably meet the repayment obligations.


Why Personal Loans Are the Best Options During a Financial Crisis?

![Purple Illustration Business Marketing Blog Banner (7).png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Purple_Illustration_Business_Marketing_Blog_Banner_7_a92fa5a83c.png)

It is essential to move cautiously and make educated selections while applying for loans in India. If handled carefully, a loan may be a useful financial instrument, but if not, it can result in debt. Avoiding common errors is crucial for ensuring a pleasant borrowing experience and reducing possible hazards. In the following article, we'll go through five mistakes individuals should avoid while applying for loans in India.

### 1. Neglecting to Conduct Proper Research:
One of the most significant mistakes individuals make when applying for loans in India is failing to conduct thorough research. It is essential to explore different loan options, compare interest rates, and understand the terms and conditions of various lenders. By researching and gathering information, borrowers can make informed decisions and choose a loan product that best suits their needs. Neglecting research can result in selecting a loan that doesn't align with your financial goals or getting trapped in unfavourable terms. Now, you can even get loans through a loan money app.

### 2. Not Checking Credit Score:
A crucial aspect that lenders consider when evaluating loan applications is the borrower's credit score. A low credit score may lead to loan rejections or higher interest rates. It is advisable to review your credit score and take necessary steps to improve it if needed before applying for a loan. This proactive approach can enhance your chances of obtaining a loan on favourable terms.

### 3. Overlooking the Fine Print: 
Another common mistake borrowers make is overlooking the fine print of loan agreements. It is essential to read and understand all the terms, conditions, and clauses mentioned in the loan agreement. Pay close attention to interest rates, repayment terms, prepayment penalties, and any hidden charges. By carefully reviewing the fine print, borrowers can avoid surprises and ensure they are fully aware of their obligations and rights as borrowers.

### 4. Borrowing More Than You Can Repay: 
One critical mistake that borrowers often make is borrowing more than they can comfortably repay. It is crucial to assess your financial situation realistically and borrow an amount that aligns with your repayment capacity. Taking on excessive debt can lead to financial stress and affect your creditworthiness. Carefully evaluate your income, expenses, and existing financial obligations before determining the loan amount you can comfortably manage.

### 5. Applying for Multiple Loans Simultaneously: 
Applying for multiple loans simultaneously can have negative consequences on your creditworthiness. Each loan application creates a hard inquiry on your credit report, which can lower your credit score. Lenders may perceive multiple loan applications as a sign of financial distress or an inability to manage debt responsibly. Instead of applying for numerous loans, focus on identifying the most suitable loan option and submit a well-prepared application to increase your chances of approval.

Some additional mistakes that should be avoided while applying for loans are:

### 1. Ignoring Alternative Lenders: 
Many borrowers tend to overlook alternative lending options beyond traditional banks. Alternative lenders, such as online platforms or peer-to-peer lending networks, may offer competitive interest rates and more flexible terms. Ignoring these options can limit your choices and potentially lead to higher borrowing costs. It is worth considering alternative lenders and comparing their offerings to ensure you are getting the most favourable loan terms.

### 2. Skipping the Loan Comparison Process: 
Comparing loan offers from different lenders is a vital step that borrowers often skip. Each lender may have different interest rates, repayment periods, and fees associated with their loan products. By neglecting to compare loans, borrowers may end up with a higher interest rate or unfavourable terms. Take the time to obtain loan quotes from multiple lenders and carefully analyze them to make an informed decision.

### 3. Not Building a Strong Loan Application: 
When applying for a loan, it is essential to present a strong loan application to increase your chances of approval. This includes providing all the necessary documentation, such as income statements, bank statements, and identification proofs. Not providing complete and accurate information or missing any required documents can lead to delays or even rejection of your loan application. Pay attention to the lender's requirements and ensure that your application is complete and well-prepared.

### 4. Disregarding the Impact of Loan EMIs on Monthly Budget: 
Before taking on a loan, it is crucial to assess how the loan equated monthly instalments (EMIs) will affect your monthly budget. Failure to consider this can lead to financial strain and difficulty meeting your other financial obligations. Evaluate your income and expenses carefully to determine if you can comfortably accommodate the loan EMIs within your monthly budget. This assessment will help you avoid unnecessary financial stress and ensure timely repayment.

### 5. Not Seeking Professional Advice: 
Applying for a loan can be complex, especially for individuals who are not well-versed in financial matters. Failing to seek professional advice or guidance when needed can lead to mistakes. Consider consulting a financial advisor or loan expert who can provide valuable insights, help you understand the loan terms, and guide you through the application process. Their expertise can prevent costly errors and assist you in making well-informed decisions.

### 6. Not Considering Loan Repayment Insurance: 
Loan repayment insurance is designed to provide financial protection in case of unforeseen circumstances, such as job loss, disability, or critical illness. Many borrowers make the mistake of not considering or opting for loan repayment insurance. This insurance can provide a safety net by covering loan repayments during difficult times. Assess the benefits and costs of loan repayment insurance and evaluate if it's a prudent choice for your loan application.

## Conclusion:
When it comes to applying for loans in India, avoiding common mistakes can save you from financial hardships and ensure a smooth borrowing experience. By conducting proper research on the [best loan app](https://play.google.com/store/apps/details?id=in.onecode.app), checking your credit score, reading the fine print, borrowing responsibly, and refraining from multiple loan applications, you can navigate the loan application process more effectively. Remember, a loan should be a tool to support your financial goals, and avoiding these mistakes will help you make informed decisions and stay on a path to financial success.



5 Mistakes to Be Avoided While Applying for Loans in India

![Bad Credit History.jpg](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Bad_Credit_History_b2f35cf8a9.jpg)

Do you know that over 15% of the Indian population has a bad credit score? According to a credit information company's report, approximately 480 million Indian adults under 65, which constitutes around half of the earning population, are credit unserved.

A low credit score can limit your financial opportunities, especially when it comes to borrowing money. Banks and financial institutions typically use credit scores as a primary tool to determine the creditworthiness of an individual or business. 
A low credit score indicates a higher risk of defaulting on a loan, making it difficult to obtain financing. However, all hope is not lost. 

There are strategies and options available for individuals in India with bad credit to help them get the loan they need.

### 1. Correct credit report errors, if any:

Often, the credit bureau makes errors and mistakes on the credit report. Credit report mistakes can lead to a poor credit score, affecting credit possibilities. You should check your free credit report regularly to see if there are any errors or mistakes to report and dispute any errors or inaccuracies that may negatively affect your credit score.

### 2. Improve your credit score:

The first step to getting a loan with bad credit is to work on improving your credit score. You can do this by paying off any outstanding debts, making timely payments on your bills and credit cards, and avoiding applying for multiple loans or credit cards. You can also [check your credit score for free on ZET](https://play.google.com/store/apps/details?id=in.onecode.app). If you have a bad credit score you can try a secured credit card. This can help you improve your credit score quickly fast.

### 3. Look for alternative lenders:

Traditional banks and financial institutions may be reluctant to lend to individuals with bad credit. However, there are alternative lenders who may be more willing to work with you. These options include peer-to-peer lending platforms, online lenders, and credit unions. While the interest rates may be higher, these options can be a viable solution if you need a loan quickly.

### 4. Consider secured loans:

Secured loans require collateral, such as a car, gold, or property, in order to secure the loan. Since the lender has collateral to fall back on if you default, they may be more willing to lend to someone with bad credit. However, it's important to remember that if you do default, you may lose your collateral. 

### 5. Find a co-signer:

If you have a friend or family member with a good credit score, they may be willing to co-sign a loan with you. This means that they will be responsible for paying the loan if you cannot. If an individual has a low credit score, having a co-applicant with a high credit score can improve their chances of getting approved for a loan. However, it's important to remember that if you default, it will negatively affect their credit score as well.

### 6. Apply for a loan with a guarantor:

Some lenders may allow you to apply for a loan with a guarantor. A guarantor is someone who agrees to pay the loan if you cannot. Finding a guarantor for loans can be a good solution if you don't have collateral or a co-signer.

### 7. Look for government schemes:
In India, there are several government loan schemes that are designed to help individuals with low income or bad credit. These include the Pradhan Mantri Mudra Yojana (PMMY) and the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

### 8. Peer-to-peer loan:

Peer-to-peer lending is a different way to borrow money without involving banks or traditional lenders. Instead, you borrow directly from individuals or groups of individuals who are willing to lend you money, usually through an online platform. [ZET app](https://play.google.com/store/apps/details?id=in.onecode.app) is a convenient collective platform that allows individuals to obtain loans from various popular peer-to-peer platforms, without the need for a good credit score or collateral.

It may be possible to get lower interest rates with compared to traditional loans, although this will depend on how low your credit score is. It is possible that individuals with extremely low credit scores may not meet the eligibility criteria for this kind of loan.

### 9. Ask for a lower personal loan amount:

While having a poor credit score can make it difficult to get approved for a loan, it is still possible to obtain it even with bad credit by requesting a lower loan amount. This approach can help to minimize the risk of default for the lender, as they are lending out a smaller sum of money.

Getting a loan with bad credit in India can be challenging, but it is not impossible. Explore these strategies & alternative options that can help in getting the finance you need with a bad credit score. However, the best and recommended way is to improve your credit score over time and then apply for credit. 

## Frequently Asked Questions:

**1. What is a bad credit score in India?**

A bad credit score in India is generally considered to be a score below 600. However, this can vary depending on the credit bureau and the lenders’ policies.

**2. What does "credit unserved" mean?**

Credit unserved refers to individuals or businesses that do not have access to formal credit facilities or have limited access to such facilities due to factors such as a lack of credit history, low income, or a poor credit score. 



Strategies and Options for Getting a Loan With Bad Credit in India

![Blog-Get-rid-of-Debt.jpg](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Blog_Get_rid_of_Debt_3b3e0d8a36.jpg)

### Crushing Debt: Learn from Amitabh Bachchan's Journey to Financial Freedom

In 1999, Amitabh Bachchan faced a massive debt of Rs. 90 crores and successfully managed to overcome it. However, one can imagine, overcoming such a huge debt could not have been an easy task. In a 2013 interview with Mail Today, he shared his bitter experience of having creditors come to his door, treat him poorly, make threats, and demand money. Due to his enormous debt, even his famous house, Pratiksha, was at risk of being taken away from him. 

However, with the right strategy, he managed to overcome it and bounce back. Drawing inspiration from his experience, in this article, we will tell you the best practical steps to pay off your debts quickly. If someone as successful as Amitabh Bachchan can bounce back from debt, so can you. 

Let's explore these strategies and work towards achieving financial freedom.

### Step 1.  Make a List and Prioritise

Create a list of all your debts, including the type of loan and their interest rates. Prioritise the debts with the highest interest rates, as tackling them first will reduce the overall interest you'll need to pay.

### Step 2: Budgeting

Develop a budget that outlines your income and expenses. Assess your spending habits and find areas where you can cut back on unnecessary expenses. Allocate a significant portion of your income towards debt repayment, focusing on balancing your needs, wants, and savings.

### Step 3: Temporary Cutbacks

During your debt repayment journey, temporarily reduce non-essential expenses like eating out, entertainment subscriptions, and luxury purchases. Embracing a more minimalist lifestyle will free up more funds for debt repayment.

### Step 4: Avoid Overspending

Until you clear your existing debts, avoid taking on new significant expenses like buying a house, car, or planning extravagant events. Steer clear of credit card usage, as they often come with high-interest rates that can lead to more debt.

### Step 5: Sell Unnecessary Items

Identify unused or unnecessary items that you can sell. Platforms like OLX and Quikr provide convenient ways to sell second-hand goods, generating extra income to accelerate your debt repayment process.

### Step 6: Focus on Increasing Income

Explore opportunities to increase your income, such as working additional hours, taking on more responsibilities at your current job, or pursuing part-time jobs or freelance work. You can try the ZET app, an online platform where you can sell financial products which are already in demand and [earn an extra income](https://play.google.com/store/apps/details?id=in.onecode.app). Acquiring new skills or certifications can also lead to higher-paying opportunities, helping you pay off debts faster.

### Step 7: Harness the Power of Positive Thinking

Adopt a positive mindset and reframe your thoughts and questions about debt. Instead of dwelling on negative thoughts, ask empowering questions like, "What steps can I take to overcome this challenge?" Focus on your commitment and honesty in repaying the debt, knowing that you are taking control of your financial future.

### Conclusion
Overcoming debt requires determination, discipline, and strategic planning. By following these seven steps, you can regain control of your finances and work towards a debt-free life. Amitabh Bachchan's journey serves as a powerful reminder of the challenges he faced. But he didn't give up. With determination and hard work, he overcame his difficulties. His story shows that if you have the right attitude and a good plan, you can overcome debt and become financially free. Start now and create a better future for yourself.




How to Get Rid of Debt Quickly?: Learn from Amitabh Bachchan's Journey to Financial Freedom

![Blog-Loan-Aprroved.jpg](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Blog_Loan_Aprroved_4e23de4ab2.jpg)

Getting a loan in India is a big financial decision, but the process of getting approval can be complicated. In this blog article, we will tell you the step-by-step process of how loans are approved in India. Understanding this process will help you make smart choices when applying for a loan, improving your chances of success. 

### 1. Assess Your Loan Needs:

First, figure out why you need a loan and the type of loan that suits your needs. It could be for personal reasons, buying a home, starting a business, or something else. Knowing your loan requirements is very important.

### 2. Gather Required Documents:

Every loan application needs specific documents. Collect all the necessary documents, such as proof of identity, address, income, and bank statements. Make sure the documents are correct and up-to-date to avoid delays in the approval process. 

### 3. Research and Compare Lenders:

Look for different lenders in the market and compare their loan offers. Find lenders with fair interest rates, flexible repayment options, and good customer service. Compare their requirements, fees & charges, and reputation to find the best one for you. If a bank loan agent is not providing you with the best offer, you can explore loan offers online.

### 4. Submit the Loan Application:

Submit your loan application to the chosen lender. Visit their office or do it online. Fill out the application form accurately, giving all the necessary details and supporting documents.

### 5. Verification and Evaluation:

Once you submit your application, the lender will check and evaluate it. They will look at factors like your ability to repay the loan, stability of your income, employment history, and other relevant information. They may also check your credit score using credit bureaus like CIBIL.

### 6. Loan Approval and Offer:
If your application meets the lender's requirements, you will receive an approval offer for the loan. The offer will include details about the loan amount, interest rate, repayment period, and other terms. Read the offer carefully and ask any questions before accepting it.

### 7. Acceptance and Documentation:

After accepting the loan offer, you'll need to sign the loan agreement and provide any additional requested documents. Make sure you understand all the terms and conditions in the agreement before signing it.

### 8. Disbursement of Funds:

Once all the necessary paperwork is completed, the lender will give you the loan. The funds may be deposited directly into your bank account or given as a demand draft or cheque, depending on the lender's process.

### 9. Get Instant Loan Online:

In urgent need of money, it is best to apply online and get instant funds in your account. [Money-earning apps](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) like ZET can help you find the best loan offers. ZET has tie-ups with major banks and financial institutions, where you can choose what you want, not what is given. Not just this, through ZET you can also become a DSA loan agent and sell loans, and earn ₹1 lakh every month. Download the ZET App today. 


Understanding the loan approval process in India is important to have a smooth borrowing experience. By following these simple steps, you can navigate the process with confidence and improve your chances of getting the loan you need. Remember to assess your needs, research lenders, gather all necessary documents, and carefully review loan offers before making decisions.

### Frequently Asked Questions

**1. What criteria do lenders typically evaluate when deciding to approve or reject a personal loan application?**

While approving or rejecting a personal loan application, lenders consider factors like  credit score, credit history, income details, employment status, and KYC details.

**2. Where can I use the money disbursed through a personal loan?**

It is your money; you can use it wherever you want, such as for home renovation, travel, marriage, or making a purchase.

**3. Which documents are typically required as income proof for different types of loan applicants?**

For individuals who are employed:

- Employment ID card
- Salary slips for the last 3-6 months
- Income Tax Returns (ITR) with Form 16 for the past 2 years
- Bank statements covering the last 3-6 months

For self-employed individuals:

- Balance sheet 
- Profit & Loss statement
- Business ownership certificate
- Partnership deed (if applicable)
- Bank statements for the past 3-6 months
- Income Tax Returns (ITR) with Form 16 for the previous 2 years

These documents are typically requested by lenders to assess the income stability and repayment capacity of loan applicants.

**4. What will happen to my credit score if my personal loan application gets rejected?**

If your personal loan application is rejected multiple times, it will lower your credit score. Lenders check your credit history each time you apply for a loan, and this can negatively affect your credit score.

**5. How can I improve my credit score?**

To improve your credit score, pay all your debts on time, check your credit report for any issues and resolve them, and avoid using more than 30% of the credit limit provided by your credit card. Additionally, there are other factors that can help improve your score. You can find more information on these factors by reading this blog article - [Building Credit: How to Create Your Credit History From Scratch?](https://zetapp.in/blog/building-credit-how-to-create-your-credit-history-from-scratch)


Understanding the Loan Approval Process in India: A Step-By-Step Guide

![Blog-BNPL-Gen-Z-hack (1).jpg](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Blog_BNPL_Gen_Z_hack_1_cd1de9c4e3.jpg)

Hey there, shopaholics! Are you tired of suppressing your shopping desires while waiting for your bank account to catch up? The days when you had to wait for your payday to shop are long gone! Today, you've Buy Now Pay Later (BNPL) at your rescue to get all the things you want instantly!

No one likes losing their hard-earned money all in one go. It hurts! But what if you could get the things you wished for instantly, without breaking the bank, all at once? The pain is bearable, right? Then you buy now and pay later (BNPL) in installments without any extra cost! It’s a win-win!

When you apply for BNPL, you get a credit line according to your past transactions and payment behavior. The credit limit will gradually increase as you make timely payments. You can pay back the amount used over months or days. This is like a short-term loan for 15 to 45 days but with a low or no rate of interest!

[Check out ZET App](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) if you want to receive attractive payouts while referring BNPL services. 

### How is BNPL winning people’s hearts?

It’s not just for big purchases like electronics or home appliances. There are BNPL services that offer the same services for Zomato, Swiggy, etc. Amazon and Flipkart also widely accept the same for small purchases, and they offer these services as well!

For the same reason, it has gained popularity as an alternative to traditional credit cards and other financing options. It offers consumers a more manageable way to budget for their expenses and make larger purchases without immediate financial strain or burden.

One of the reasons BNPL is popular in India is that many individuals, particularly students, self-employed individuals, and those with bad credit scores or no credit history, struggle to get approved for credit cards. Even if they get approved, the charges and credit card offers may not be favourable. BNPL offers an accessible option as it does not require a credit score or collateral for approval. These incentives make it appealing for consumers to choose BNPL over other payment options.

However, it's worth noting that the lack of creditworthiness checks was one of the concerns raised by the Reserve Bank of India (RBI). The RBI implemented guidelines to regulate BNPL services, aiming to protect consumers from falling into debt traps. By providing credit to individuals without assessing their creditworthiness, BNPL services could lend to people who were unable to repay. This led to cases of missed payments.

### But, don’t burn your hands!

However, BNPL can lead to impulsive buying and overspending. You may be tempted to make purchases you don’t actually need or can’t afford, simply because you are able to delay payment. As you are required to pay for multiple purchases simultaneously, this can cause financial strain in the long run. Missing BNPL payments or accumulating multiple BNPL purchases can lead to debt and financial stress. It's crucial to be disciplined, budget wisely, and ensure that your repayment capacity aligns with your purchases.

Remember, responsible usage of BNPL is crucial to avoiding falling into a debt trap. Make sure to read and understand the terms and conditions, including interest rates and repayment schedules, to make informed decisions and manage your finances effectively. Missing payments or accumulating multiple BNPL purchases can lead to debt accumulation and financial stress. It's crucial to be disciplined, budget wisely, and ensure that your repayment capacity aligns with your purchases.

### Downfall on credit score?

If you make on-time payments, it can only help you build a good credit history and a solid credit score. But, defaulting payments can have a major impact on your credit score, credit report, and overall financial health due to the interest rates charged!

### How do I get BNPL?

You can now [download ZET App](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play), sign in and earn money for referring buy now pay later services from top brands like Mobikwik, Bajaj Finserv, Freecharge, CASHe Pay Later, etc. You can add yourself as a customer as well and get a BNPL for yourself while earning an attractive amount of money! 

Buy now pay later apps offer convenience and flexibility in India, allowing you to make purchases and defer payments. However, it's important to use BNPL responsibly, considering factors like overspending! By being aware of these regulations and practising smart financial habits, you can make the most of BNPL services while safeguarding your financial well-being.

Can’t wait to shop? Don’t wait to shop! Go and get that stunning dress, cutting-edge gadget, or jaw-dropping home decor item. It’s all yours and that too without compromising on your budget.

### Frequently Asked Questions

**1. What is Buy Now Pay Later (BNPL)?**
Buy Now Pay Later (BNPL) is a payment option that allows you to make purchases and defer the payment to a later date. It enables you to buy the things you want instantly without having to pay the full amount upfront.

**2. Is there a credit check for BNPL?**

Unlike traditional credit cards, BNPL services often do not require a credit check or collateral for approval. This makes it more accessible to individuals with no credit history or poor credit scores.

**3. Are there any charges or fees associated with BNPL?**

In many cases, BNPL services charge no or minimal interest. However, it's important to read the terms and conditions of each service to understand if there are any fees or charges involved.

**4. Can BNPL affect my credit score?**

Responsible BNPL usage can help you build a good credit history and improve your credit score. However, defaulting on payments or accumulating multiple BNPL purchases can negatively impact your credit score and overall financial health.



Buy Now Pay Later - A Gen Z Shopping Hack!

![Blog-Types-of-account.jpg](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Blog_Types_of_account_9bc0cf6348.jpg)

When it comes to managing our finances, having a bank account is an essential part of modern life. It not only provides a secure place to store our money but also offers various features and benefits that can simplify our financial transactions. 
In India, there are several types of bank accounts available, each catering to different needs and requirements.

In this blog, we will explore the most common types of bank accounts in India and help you determine which one is right for you. These days there are many [money-earning apps](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) like the ZET app which allows you to earn money by selling bank accounts. So, let's get started!

### Savings Account: Your Financial Foundation

The savings account is the most popular type of bank account in India. This account is designed for individuals to safely deposit their money while earning interest on the balance. It offers features like ATM/debit cards, online banking, and chequebook facilities.

With a savings account, you can withdraw money whenever you need it, make online transactions, and receive interest on your balance. If you are looking for a basic account for day-to-day banking needs, a savings account would be the ideal choice.

### Current Account: For Businesses and Corporates

If you own a business or are involved in commercial activities, a current account is the perfect choice. Current accounts are designed mainly for businesses and corporations, offering features like unlimited transactions, overdraft facilities and chequebook issuance.

Unlike savings accounts, current accounts do not earn interest on the balance, but they provide more flexibility for frequent transactions and managing cash flow. So, if you're looking for a bank account that suits your business needs and keeps things running smoothly, a current account is the one you should consider.

### Fixed Deposit Account: Growing Your Savings

FDs (Fixed Deposits) are a great option if you want to earn higher interest rates on your savings. In this type of account, you deposit a lump sum amount for a fixed period, ranging from a few months to several years. The longer the duration, the higher the interest rate you can expect. 

FDs are pretty safe investments and give you guaranteed returns, so they're a good choice if you prefer stability and don't want to take too many risks with your money.

### Recurring Deposit (RD) Account: Small Savings, Big Rewards

A recurring deposit account is a great choice if you want to save a fixed amount of money regularly for a certain period. It works on the principle of disciplined savings, where you deposit a predetermined sum each month. 

RDs also offer a fixed interest rate that is generally higher than savings accounts. So, if you have a steady income and want to build up your savings over time, an RD is a perfect option for you.

### NRI Account: Managing Finances from Abroad

If you're an Indian living abroad, you can open special accounts called NRI accounts to handle your finances in India. NRI accounts come in various types, such as NRE (Non-Residential External), NRO (Non-Residential Ordinary), and FCNR (Foreign Currency Non-Residential). 

These accounts allow NRIs to hold and transact in Indian currency or foreign currency, depending on the type of account. If you are an NRI looking to maintain your Indian connections and make investments in India, these are beneficial for you.

### Salary Account: Convenience for Working Professionals

Salary accounts are designed specifically for employees who receive their salaries through direct deposit from their employers. These accounts offer several advantages, such as zero balance requirements, free ATM withdrawals, and additional benefits like discounts on loans, credit cards, and insurance. 

If you have a steady income through employment, a salary account can be a really smart choice to manage your monthly finances conveniently.

### How to choose the best bank for your needs?

Choosing the right type of bank account is crucial for managing your finances effectively. Whether you're looking for a safe place to keep your money or a business owner seeking transactional flexibility, understanding the different types of bank accounts available in India will help you make an informed decision. 

Consider your financial goals, income source, and transactional requirements when choosing a bank account. Remember, banks often offer a range of add-on services and benefits, so be sure to compare and choose the account that aligns with your needs. 

Did you know that you can easily apply for some of the best bank accounts using the [ZET app](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play)? It's pretty awesome because you get to enjoy a bunch of amazing benefits as well. 

Don't you think this is a unique way to earn some extra cash? It's super convenient and hassle-free. Happy banking!

### Frequently Asked Questions

**1. Are there any fees associated with bank accounts in India?**

Yes, most bank accounts in India have certain fee associated with them, such as account maintenance charges, transaction fees, chequebook issuance charges, and charges for non-maintenance of minimum balance. The fee varies depending on the type of account and the bank.

**2. How do I choose the right bank account for myself?**

To choose the right bank account, consider factors such as your financial goals, transaction requirements, minimum balance requirements, interest rates, charges, and additional features provided by different types of accounts. Assess your needs and compare offerings from different banks before making a decision.

**3. Can I hold multiple types of bank accounts simultaneously?**

Yes, you can hold multiple types of bank accounts simultaneously in India. Many people maintain different accounts to meet specific financial goals or segregate personal and business finances. However, it is important to manage them responsibly and keep track of associated fees and minimum balance requirements.

**4. Can I convert my existing account to a different type of bank account?**

Depending on the bank's policies, you may be able to convert your existing account to a different type. Contact your bank to inquire about the conversion process and any associated fee or requirements. It's advisable to understand the features and benefits of the new account type before proceeding with the conversion.


Types of Bank Accounts in India: Which One Is Right for You?

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Let’s rewind a few decades. One thing most people fretted about was going to the bank every month, because of the sheer time & energy involved. 

For instance, if you wanted to withdraw cash, you had to first go to the bank branch, and stand in a queue in order just to give your cheque to the banker. The banker would eventually give you a token and ask you to wait until the cashier called out loud your token number. 

I still remember my grandfather getting all suited up every first day of the month, to go to the bank to withdraw his pension and update his passbook. It was almost a ritualistic sight. 

All that today is, thankfully, a thing of the past. Digital banking has transformed the way things are done, and with that, simplified our lives manifold. Now to get cash for your needs all you’ve to do is go to the nearest ATM, swipe your card, and get cash in minutes! In fact, with cardless cash withdrawals, you don’t even need to carry your ATM card. All you need is a valid registered mobile number. 

Digital Banking allows you to enjoy paperless banking, where you do not have to keep track of your transactions or banking history through physical documentation. By going digital, one can transact with higher speed, ease, and convenience.

Don’t have a bank account yet? [Download the ZET App](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) today, add yourself as a customer, and open your bank account! The best part? Earn money while opening your account! 

### What is Digital Banking?

Conducting all kinds of banking activities online doing away the need of paperwork like cheques, pay-in slips, demand drafts, etc. comes under the ambit of digital banking. Online banking allows you to conduct traditional banking activities 24x7 without having to physically visit a bank branch. You can use a laptop, tablet, or your mobile phone to do it.

### Advantages of Digital Banking:

**1. Fund transfers:**
Say goodbye to the hassle of issuing cheques or Demand Drafts. Now you can instantly transfer your finds anywhere, anytime to anyone. Multiple options exist like IMPS, RTGS, NEFT, and so on to help you transfer funds online. Your MobileBanking App, makes it all the more easy. 

**2. Cash withdrawal:**
With ATMs lining every nook and corner of India, you don’t have to visit a bank branch to withdraw cash anymore- that too 24*7. 

**3. Getting statements:**
Download your bank statements for any period at any time online. There’s absolutely no need to visit a bank branch, and get your passbook updated. All you need is a device and active internet banking.

**4. Paying bills:**
With digital banking, you can pay all your bills at the tap of a finger. Whether it’s utilities or groceries, recharge, or top-ups, all you need to pay is via logging in. There’s also an auto-debit facility for paying your bills automatically. There is no doubt that digital banking has transformed the everyday lives of individuals!

**5. Investments:**
Opening a Fixed Deposit, Recurring Deposit or making SIP payments takes just a few seconds. Additionally, you can use Digital Banking to invest in other instruments. As an example, HDFC Bank NetBanking lets you invest in Mutual Funds, buy insurance products, and even apply for loans.

**6. Mobile Banking:**
Digital Banking Revolution 1.0 happened through the Internet. In phase 2 came mobile phone platforms. And after the introduction of smartphones, Digital Banking took off in an enormous way in India. With smartphones, customers can now conduct bank transactions on the go. Most banks have their apps for customers, such as MobileBanking App and PayZapp amongst many others. 

**7. Tracking transactions:**
Wondering if your salary has been credited to your account? Or, that long pending refund has finally been released by the merchant? Just take out your smartphone and check in a matter of seconds. In addition, banks send SMSes when your account has been debited. As a result, if there is a fraudulent transaction, you will be alerted right away.

Digital Banking has completely reimagined the way banks and customers interact with each other. In a rising technological and financial economy like India, today an increasing number of individuals are being connected to Digital Banking Platforms every minute. 

Want to open a savings bank account and easily conduct all your banking transactions digitally? [Download the ZET App today](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play). Even better, get a payout while opening your bank account! 

### Frequently Asked Questions

**Q1. Is it safe to use digital banking?**

In contrast to the notion that digital banking poses many security concerns, digital banking is considered much safer than traditional branch banking. Yes, digital banking portals are prone to hacking & other cyber attacks, but banking and other financial institutions are investing a lot of money to enhance their security.

**Q2. Why are message alerts sent in digital banking?**

Whenever a transaction or an activity takes place in a person’s bank account, he/she receives instant alerts through messages. Such notifications help in preventing any fraudulent or suspicious activities from taking place.

**Q3. What are some of the different kinds of digital banking services for businesses?**

Popular digital banking services include UPI (United Payment Interface) transactions, mobile wallets, multi-currency transactions, and Point of Sale Machines (PoS), to name a few. 


Digital Banking & Its Impact on Day to Day Lives of Customers

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### Safeguarding Finances: The Crucial Role of Cybersecurity in Preventing Frauds in India

In recent years, India has witnessed a significant rise in financial frauds, resulting in substantial financial losses for individuals, businesses, and the economy as a whole. 

As technology continues to advance, criminals are finding new ways to exploit vulnerabilities in the digital landscape, making it crucial for organizations and individuals to prioritize cybersecurity measures to prevent financial frauds and safeguard their assets. 

In this blog, we will explore the role of cybersecurity in preventing financial frauds in India.  

The ZET app offers you the opportunity to [earn money by  selling credit cards](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) and bank accounts with top-notch cyber protection. So, are you ready to get started and make some cash while keeping everyone's digital assets safe? Let's do this!

### Understanding Financial Frauds:
Financial frauds come in various forms, including online banking fraud, credit card fraud, identity theft, phishing attacks and more. 

You know what's scary about these financial frauds? 

Cybercriminals are becoming super sneaky with their fancy techniques to get their hands on our sensitive data and pull off fraudulent tricks. 

However, we need strong cybersecurity measures to fight back against these bad guys and keep our information safe and sound. So, let's stay one step ahead and protect ourselves from these digital troublemakers!

### The Role of Cybersecurity:
In this digital era, where financial transactions occur at the click of a button, robust cybersecurity measures are essential to protect ourselves from financial frauds. 

Here are some key roles that cybersecurity plays in preventing such incidents:

### 1. Protecting Personal Data:
Cybersecurity focuses on safeguarding personal data, such as bank account details, credit card information, and social security numbers, from unauthorized access. Measures like encryption, secure authentication protocols, and strong passwords help ensure that our sensitive information remains confidential and inaccessible to cybercriminals.

### 2. Detecting and Preventing Malware:
Malware, including viruses, worms, and ransomware, poses a significant threat to financial systems. Cybersecurity professionals employ advanced tools and techniques to detect and prevent malware attacks, which can compromise financial data and facilitate fraudulent activities.

### 3. Securing Digital Payment Systems:
With the rapid growth of digital payments in India, securing payment gateways and mobile wallets is crucial. Cybersecurity measures such as secure socket layer (SSL) encryption, multi-factor authentication, and real-time transaction monitoring help protect against unauthorized access and fraudulent transactions.

### 4. Educating Users:
Cybersecurity awareness plays a vital role in preventing financial frauds. Individuals must be educated about common cyber threats, such as phishing emails, smishing (SMS phishing), and social engineering techniques. By raising awareness and promoting good cybersecurity practices, we can empower users to identify and avoid potential risks.

### 5. Collaborating with Financial Institutions:
Cybersecurity is a shared responsibility between individuals, businesses, and financial institutions. Collaborative efforts are crucial to creating a secure financial ecosystem. Financial institutions should implement robust cybersecurity frameworks, conduct regular audits, and share information about emerging threats to stay ahead of cybercriminals.

In conclusion, cybersecurity plays a critical role in preventing financial frauds in India. By implementing strong security protocols, employing encryption technologies, and establishing secure network infrastructure, organizations can significantly reduce the risk of financial frauds. 

Guess what? With the [ZET app](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play), you can easily apply for secured credit cards and loans while keeping your data secure and protected. No need to worry about cyber threats or financial frauds because ZET has your back!

So, go ahead and take advantage of this user-friendly and safe way to access credit cards and loans. Your financial journey just got a whole lot smoother and more secure with ZET!

### Frequently Asked Questions

**1. Is cybersecurity a necessity in today's digital world?**

Absolutely! In today's interconnected world, where digital transactions and data sharing are prevalent, cybersecurity is not an option but a necessity. It ensures the protection of sensitive information, financial assets, and overall online safety. Embracing cybersecurity practices is vital for safeguarding our digital lives from cyber threats and financial frauds.

**2. What is multi-factor authentication (MFA) and its role in financial fraud prevention?**

Multi-factor authentication adds an extra layer of security to user accounts. It requires users to provide multiple forms of identification before gaining access, such as a password, fingerprint, or a one-time code. This way, even if a hacker steals a user's password, they would still need additional authentication factors, making it much harder to breach an account.

**3. What are intrusion detection systems (IDS), and how do they help prevent financial frauds?**

Intrusion detection systems continuously monitor networks for unusual or malicious activities. If any suspicious behavior is detected, an alert is triggered, allowing swift responses to potential threats. IDS helps in identifying and thwarting attempts to compromise the security of financial systems and sensitive data.

**4. How do advanced firewalls contribute to preventing financial frauds?**

Advanced firewalls act as barriers between devices and potential threats from the internet. They analyze incoming and outgoing data, filtering out malicious content and protecting systems from unauthorized access. By implementing robust firewalls, financial institutions and individuals can add an extra layer of protection to their digital assets.


The Role of Cybersecurity in Preventing Financial Frauds in India

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### Everything You Need to Know About Investing in Mutual Funds

Welcome to our comprehensive guide on mutual funds! In this blog post, we will provide you with valuable insights into the world of mutual funds, empowering you to make informed decisions about your personal finances. Whether you're a beginner investor or a common man, this article will equip you with the necessary knowledge to navigate the realm of mutual funds successfully.

### Understanding Mutual Funds:

Mutual funds are investment vehicles where multiple investors pool their money together, which is then managed by Asset Management Companies (AMCs) like SBI Mutual Fund, Axis Mutual Fund, Nippon India, and others. These AMCs invest the pooled money into various instruments such as stocks, bonds, and securities. By investing in mutual funds, you gain access to a diversified portfolio without requiring substantial capital or market expertise.

### Types of Investments:

Before we dive deeper into mutual funds, let's explore the various investment options available in our country. Traditionally, people have relied on savings accounts, fixed deposits (FDs), gold, real estate, and even the stock market to grow their wealth. Each investment avenue comes with its own set of risks, returns, and time frames.

### Return, Risk, and Time:

When considering investments, three key factors come into play: return, risk, and time. Return refers to the percentage of profit earned through the investment, while risk represents the possibility of losing money. Time denotes the duration for which you intend to invest your money. It's important to strike a balance between these factors based on your financial goals, risk tolerance, and investment horizon.

### Mutual Funds: A Diversified Approach:

Mutual funds offer a unique advantage by allowing investors to diversify their investments across different asset classes within a single fund. AMCs employ expert fund managers who strategically invest the pooled money into stocks, bonds, or other instruments. The returns earned from these investments are distributed among the investors, minus a small percentage kept as profit by the AMC.

### Understanding Risk and Return in Mutual Funds:

The risk and return associated with mutual funds depend on the specific funds in which you invest. Mutual funds can range from low-risk debt funds to high-risk equity funds. For instance, equity funds invest in the stock market, which carries higher risks but also the potential for greater returns. On the other hand, debt funds primarily invest in fixed-income instruments, offering relatively lower risks and more stable returns.

### Types of Mutual Funds:

Mutual funds are broadly categorized into three types: equity mutual funds, debt mutual funds, and hybrid mutual funds.

### Equity Mutual Funds:

In equity mutual funds, investors primarily invest in stocks. They can be further classified based on the size of the companies in which they invest. Large-cap funds focus on established companies, while mid-cap and small-cap funds target relatively smaller companies with higher growth potential. It's essential to assess the risk-return profile of each category and choose accordingly.

### Debt Mutual Funds:

Debt mutual funds invest in fixed-income securities such as bonds and debentures issued by governments and corporations. These funds are considered less risky and more stable compared to equity funds. Liquid funds provide quick liquidity, while gilt funds invest in government bonds. Fixed maturity plans are similar to fixed deposits, offering fixed returns over a specified time frame.

### Hybrid Mutual Funds:

Hybrid mutual funds combine both debt and equity components in their portfolio. Balanced savings funds allocate a significant portion to debt instruments and a smaller portion to equity. On the other hand, balanced advantage funds focus more on equity investments while maintaining a smaller allocation to debt. These funds cater to investors who seek a balanced approach with varying risk levels.

### Choosing the Right Mutual Fund:

When you want to invest money in a mutual fund, you need to think about what you want to achieve with your money, how much risk you can handle, and how much time you want to keep your money invested. Look for mutual funds that match your goals and have a history of doing well. Also, consider things like how much it costs to invest in the fund and the experience of the person managing it.

### Getting Started with Mutual Funds:

To start investing in mutual funds, you can follow a few simple steps. First, decide what you want to do with your money and how much you can invest. Then, learn about different mutual funds and how risky they are. It might be helpful to talk to someone who knows about money and investing, like a grown-up who works with money. Once you pick a fund you like, you can invest your money either through a company that helps people invest or directly through the company that manages the fund.

### Monitor and Review:

Investing in mutual funds isn't something you do just once. It's important to keep an eye on your investments and see how they're doing. Pay attention to what's happening in the world and how it affects your mutual fund. Also, think about whether your goals have changed. Sometimes, you might need to make changes to your investments to stay on track with what you want to achieve.

### Conclusion:

Mutual funds are a good way for both beginners and experienced investors to make their money grow and reduce risks. By understanding the basics of mutual funds and choosing the right ones, you can start on a path to achieving your money goals. Remember, it's important to be patient, stick to your plan, and keep learning about how money works.

We hope this guide has helped you understand mutual funds better and made you excited to explore investing. Have fun investing, and may your money dreams come true!

Check out more ways to make your money grow. Download the ZET app and [earn money online](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) with ease. 

### Frequently Asked Questions:

**1. What types of mutual funds are there to choose from?**

Mutual funds come in three main types: equity funds, debt funds, and hybrid funds. Equity funds invest in stocks, debt funds invest in safe bonds, and hybrid funds invest in a mix of both.

**2. How do I know if a mutual fund is risky or safe?**

Mutual funds can be risky or safe depending on what they invest in. Stocks carry more risk but can give higher returns. Bonds are safer and offer stable returns. You should consider your own comfort with risk when choosing a fund.

**3. How do I choose a mutual fund?**

When picking a mutual fund, think about what you want to achieve with your money. Look for funds that match your goals and have a good track record. Also, consider the cost of investing and the experience of the person managing the fund.

**4. How do I start investing in mutual funds?**

To begin investing, first decide how much money you can invest and what you want to achieve. Learn about different mutual funds and how risky they are. You can invest through a company that helps people invest or directly through the company managing the fund.

**5. How often should I check on my mutual fund investments?**
It's important to keep an eye on your mutual fund investments regularly. Check how the fund is doing and see if any changes in the market or your goals might affect your investment. Review your investments once a year or when your situation changes significantly.



Are Mutual Funds Safe?

![Blog-Savings-account.jpg](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Blog_Savings_account_1db7fe479a.jpg)

Are you looking for the best savings bank account for yourself?

It can be tough to decide when there are so many options available. But don't worry! In this blog article, we'll help you understand [how to choose the perfect savings account](https://zetapp.in/our-products/savings-account) that fits your needs. Let's get started and learn about the important things to consider when picking the right account for you.

### Interest Rates:
Interest rates are like special rewards you earn for keeping your money in a savings account. Some accounts offer better interest than others. When you keep money in your account for a  certain period of time, the bank gives you a little extra money called interest. You should look for an account that offers a good Interest rate, but also check if there are any requirements you need to meet, like maintaining a certain balance in the account. The higher the reward rate, the more your money can grow over time. 

### Minimum Balance:

Some accounts ask you to keep a minimum amount of money in them. This is the least amount of money you must always have in your account. If you can't meet this requirement, you might have to pay extra fees. But don't worry, there are also accounts that don't ask for a minimum balance, so you can start saving with whatever amount you have. This is great if you're just getting started with saving and don't have much money yet.

### Fee & Other Charges:

Before you choose an account, check if they have any fees. A fee is like a charge that the bank asks you to pay for certain services or if you don't meet certain requirements. For example, they might charge you a fee if you use an ATM that doesn't belong to your bank. Some banks charge fee for certain services, like transferring money to another country or using ATMs too often. It's better to pick an account that doesn't have this fee, especially if you won't use such services frequently. That way, you can save more of your money instead of paying it to the bank.

### Online Access:
These days it's convenient to do banking online. Check if the bank offers a good online platform or a mobile app. This way, you can easily check your balance, transfer money, or do other banking transactions without leaving your home. You can access your account from your computer, tablet, or smartphone. Online banking is not only convenient but also safe and secure. Just make sure to keep your login details like your username and password private and don't share them with anyone.

### Debit Card Benefits:
When you open a savings account, some banks give you extra perks. These can include facilities like free checks, additional cards, or discounts on shopping or eating out. These benefits provide rewards that make your banking experience enjoyable. Think about whether these benefits are important to you before making a decision. For example, if you like to go out for dinner with your family, a bank that offers discounts on restaurants might be a good choice for you.

### ATMs and Bank Branches:
It's helpful to have access to ATMs and branches near you. That way, if you need to get cash or visit the bank, you won't have to travel far. An ATM is a machine where you can withdraw cash, and check your balance. Having ATMs and branches close to you can make your banking experience more convenient. Look for a bank that has many ATMs and branches in your city or town. You can usually find this information on the bank's website or by checking it up on the internet.

Remember, choosing a savings account is a personal decision, so take your time and consider what matters most to you. Think about your goals and plan accordingly.

If you want to find the best savings account for yourself, you can [download the ZET app](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) and explore the offerings of different banks. You can then apply for the account that suits you best. Moreover, the ZET app provides opportunities to earn a high monthly income. You can sell saving accounts online and other financial products such as credit cards, loans, buy now pay later, and more to your neighbors, friends, and colleagues. Download the ZET app now 


### Frequently Asked Questions:

**1. Why are interest rates important?**

Interest rates determine how much your money can grow in a savings account over time. Higher rates mean more growth.

**2. What is the minimum balance requirement?**

A minimum balance requirement is the minimum amount of money you need to keep in your account to avoid extra fee or penalties.

**3. Is there any fees associated with bank accounts?**

Yes, some bank accounts have fees for certain services or if specific requirements are not met.

**4. How important is online access to a bank account?**

Online access allows you to conveniently manage your account, check balance, and perform transactions from anywhere at any time.

**5. How should I choose a savings account?**

Consider your goals and preferences, and evaluate factors such as interest rates, fee, convenience, and additional benefits to make an informed decision.










How to Choose the Right Savings Bank Account?

![Blog-Scam-Protection-.jpg](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Blog_Scam_Protection_fd9779a3cc.jpg)

### How to Keep Your Money Safe: Simple Tips to Avoid Financial Scams and Frauds

In today's digital world, we have access to countless opportunities to manage our finances online, but along with this convenience comes the risk of falling victim to financial scams and frauds. 

These scams can come in various forms such as phishing emails, fake websites, investment frauds, identity theft and more. However, with a little knowledge and vigilance, you can protect yourself and your hard-earned money from these threats. 

In this blog, we will explore some simple yet effective tips to keep yourself safe from financial scams and frauds.

Introducing ZET app - your safe way to earn income online! With this app, you can now [earn income by selling bank accounts](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) and credit cards while ensuring that everyone's digital assets are safe from financial scams and fraud. Are you ready to begin and make some cash without any concerns about scams or frauds? Let's get started!

### 1. Knowledge is Power:
- The first step to protecting yourself is to educate yourself about different types of scams and frauds out there. 
- Familiarize yourself with common tactics like phishing emails, lottery scams, investment schemes, identity theft and more. 
- Stay updated on the latest scam trends by reading reputable sources, following news updates, and joining online forums where others share their experiences.

### 2. Guard Your Personal Information:
- Your personal information is gold to scammers. They can use it to steal your identity and wreak havoc on your finances. 
- Be cautious about whom you share your sensitive details with, both online and offline. 
- Never give out personal information over the phone or in response to unsolicited emails or messages.

### 3. Create Strong and Unique Passwords:
- I know remembering passwords can be a pain, but it's crucial to use strong and unique ones for each account. 
- To enhance security, refrain from using easily guessable information such as common names or birthdates. Instead, create passwords that consist of a mix of upper and lower case letters, numbers, and special characters.
- Using a password manager to securely manage and track all of your passwords is highly recommended.

### 4. Verify the Legitimacy of Websites:
- Before making any online transactions or sharing your credit card details, ensure you are on a secure website. 
- Ensure that the URL begins with "https://" and features a padlock icon in the address bar.
- Double-check the website's legitimacy by researching the company, reading customer reviews and confirming contact details.

### 5. Beware of Phishing Emails and Calls:
- Phishing is a sneaky tactic used by scammers to trick you into revealing sensitive information. 
- Be careful when clicking on links or downloading attachments from unfamiliar sources.
- If you receive an email or call from someone asking for personal information, financial data, or login credentials, be skeptical and verify their identity first.

### 6. Monitor Your Accounts Regularly:
- Don't wait for your monthly statement to arrive; keep a close eye on your financial accounts regularly. 
- Review your bank statements, credit card transactions, and investment accounts for any suspicious activities. 

### 7. Use Two-Factor Authentication (2FA):
- Adding an extra layer of security can significantly reduce the risk of unauthorized access to your accounts. 
- Enable two-factor authentication whenever possible, where you need to provide a second form of verification, such as a code sent to your mobile phone, along with your password.

### 8. Be Cautious with Online Shopping:
- Only use reputable websites for your purchases and be cautious when entering your credit card details. 
- Avoid saving your payment information on multiple websites and consider using virtual credit cards for added protection.

### 9. Don't Fall for "Too Good to Be True" Offers:
- We all love a good deal, but if an offer seems too good to be true, it probably is. 
- Scammers often use attractive offers or schemes to lure victims with promises of easy money or unbelievable discounts. 
- Take a step back, do some research, and trust your gut. If something feels off, it's best to walk away.

### 10. Educate Your Family and Friends:
- Share what you've learned with your loved ones. 
- Scammers target all age groups, and raising awareness among family and friends can help protect them too. 
- Encourage open discussions about financial scams, and don't hesitate to lend a helping hand if someone you know falls victim to a fraud.

### 11. Report Scams:
- If you encounter or suspect a scam, report it immediately. 
- Notify your local authorities, the Federal Trade Commission (FTC), or your country's equivalent consumer protection agency. 
- Reporting scams can help authorities take action and prevent others from falling into the same trap.

### 12. Stay Skeptical and Trust Your Instincts:
- Finally, always trust your instincts. 
- If something feels off or fishy, it's better to be safe than sorry. 
- Scammers are skilled at exploiting vulnerabilities, but you have the power to protect yourself by staying vigilant and cautious.

In conclusion, protecting yourself from financial scams and frauds requires a combination of awareness, caution, and proactive measures. By following these tips and maintaining a healthy dose of skepticism, you can confidently navigate the digital world and safeguard your finances from potential threats. 
Remember, knowledge and awareness are your best defenses!

By [downloading the ZET app](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play), you can effortlessly apply for credit cards and loans while keeping your data completely safe. With ZET app, your financial journey becomes smoother and more secure than ever before!

### Frequently Asked Questions:

**1. What are some common signs of a financial scam?**
Common signs of a financial scam include:
- Unsolicited phone calls, emails, or messages requesting personal or financial information.
- Too-good-to-be-true offers or investment opportunities promising high returns with little or no risk.
- High-pressure tactics to make a quick decision without giving you time to think.
- Requests for payment using unconventional methods like gift cards, cryptocurrency, or wire transfers.

**2. What should I do if I suspect I have been the victim of a scam?**
If you suspect that you have been the victim of a scam, it's essential to take prompt action to protect yourself and potentially recover any losses.
- Contact your bank or credit card company immediately to report unauthorized transactions.
- Change your passwords for all your online accounts, especially if you shared sensitive information.
- Report the scam to your local authorities and file a complaint with the Federal Trade Commission (FTC) or your country's equivalent consumer protection agency.
- Be cautious in dealing with recovery services, as some of them may also be fraudulent. Seek advice from legitimate sources like law enforcement or financial advisors.

**3. What are some red flags when shopping online to avoid scams?**
Red flags when shopping online include:
- Unsecured websites: Avoid entering payment information on websites without HTTPS and padlock symbols in the address bar.
- Suspiciously low prices: Be cautious of products offered at significantly lower prices than elsewhere; it could be a scam or counterfeit goods.
- No contact information: Legitimate websites should provide clear contact details and a physical address.
- Lack of customer reviews: Be cautious of websites with no customer reviews or overwhelmingly positive feedback.




Learn How to Protect Yourself From Financial Fraud?

![Navy 3D Illustrated Social Media Marketing Blog Banner (4).png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Navy_3_D_Illustrated_Social_Media_Marketing_Blog_Banner_4_70fd3ce4e6.png)

In today’s technology-driven world, earning from the comforts of your home has become a reality cherished by most. In the last few years, [money-earning apps](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) have picked up quite a lot in India. At the forefront of these is ZET (Previously OneCode)- a simple platform that enables users to sell financial products & services online and earn up to ₹1,00,000 monthly without any investment. Anyone, irrespective of age, expertise or background, can sign up on ZET and earn extra money without any investment. In this blog, we will discuss the latest updates about ZET. 

### From OneCode to ZET- Zindagi Set

In its rebranded avatar, ZET has launched various new product offerings like reopening expired leads, refer & earn program, ZET Sales Genius Program and much more. In the last three months alone, 14 top brands were added like HDFC, ICICI, MobiKwik, MoneyView and SmartCoin, to name a few. But that's not all! The ZET App is now more user-friendly than ever and offers greater earning opportunities. While earlier you could earn upto ₹50,000 monthly, with the new brands added and revised payouts of old brands, ZET Agents can easily earn upto ₹1 Lac every month. 

### ZET Sales GENIUS Program

The "ZET Sales GENIUS Program" is a tiered rewards program for sales professionals. It offers benefits and rewards based on sales performance. There are four levels: Beginner, Pro, Expert, and Genius. ZET users must meet specific sales targets within set timeframes to progress. Each level has its own criteria and perks, such as higher payouts, welcome ZET Coins, special gifts like smartwatches & wireless earphones, ZET onboarding kit, special training, and exclusive rewards. Users can earn ZET Coins through customer addition and subsequent application completion, which can be later redeemed through the ZET Store or converted into cash. The program celebrates loyal ZET agents and aims to motivate them to further improve their skills and achieve higher levels of success.

### Refer & Earn- Build your Network on ZET & Earn

One of the standout features of ZET is its new referral policy. By sharing their unique referral link with their network, ZET agents can earn rewards in not just one, but two ways. Firstly, when 15 members in a user’s network sell two products each from the category - credit cards, loans, or BNPL- in a month, they can earn flat Rs. 10,000 per month. Additionally, they can also earn 15% of their network's earnings within the first 30 days of adding the same. 

### Reopen Expired Leads & Maximize Earning Potential:

In OneCode, whenever a user’s lead expired, there was no way he/she could help the customer complete the application process. However, ZET enables the agent to reopen expired leads and complete the application process for the user. In fact, if the customer completes their journey after reopening, the agent becomes eligible for the applicable payout. This feature ensures that effort put in the direction of making a sale goes to waste and thus, helps maximize the agent’s earning potential. 

![Navy 3D Illustrated Social Media Marketing Blog Banner (5).png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Navy_3_D_Illustrated_Social_Media_Marketing_Blog_Banner_5_f6393d2134.png)


ZET is an incredible upgrade over OneCode and offers a seamless and enhanced user experience, facilitating the user’s online earning journey. With ZET, get ready to earn amazing payouts and grow your earnings without any investment. Don't miss out on the chance to start your journey to financial success. Download the ZET app today and unlock your earning potential. Join the community of lakhs of Indians who trust ZET as their earning partner. So get started with ZET and start earning today!

[Download the ZETapp](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) Now!

What's New on ZET: Latest Updates & Offerings

![5 (3).png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/5_3_addedfe636.png)

### Axis Bank ACE Credit Card: Your Gateway to Rewards and Benefits
Looking for a credit card that offers exciting cashback on all your purchases? Check out the Axis Bank ACE Credit Card, your ultimate everyday companion that adds excitement to every purchase with its incredible cashback offers! 

### What is exciting about an Axis Bank ACE Credit Card?

This credit card is designed to enhance your shopping experience and reward you generously with cashback on all your transactions. However, this card is different from others because it offers special benefits, attractive rewards, and personalized features that match your spending habits and lifestyle. 

You know what's amazing? Now you can earn money even while applying for Axis Bank ACE Credit Card. Technology has made it possible for us to earn money right from the comfort of our homes! There are so many money-earning apps, like the ZET app. It's pretty interesting because it allows you to [earn money by selling credit cards](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play). 

In this blog, we'll explore all the benefits you can get with your Axis Bank ACE card.  

### Earn While You Spend: ACE Rewards Program

Who doesn't love rewards? With the Ace Credit Card, every time you spend, you'll be earning exciting rewards. The more you swipe, the more you'll earn, and the more you'll get to treat yourself. This card offers various benefits such as cashback, travel perks, dining rewards, fuel discounts, and more! Let’s check out these in detail - 

### Cashback:

With Google Pay, you'll get some awesome cashback offers! For all your bill payments like electricity, internet, and gas, you'll get 5% cashback. And that's not all! Even DTH and mobile recharges also come with a 5% cashback offer. 

If you're a foodie or love taking rides with Ola, you'll be thrilled to know that Swiggy, Zomato, and Ola have got your back. You'll get 4% cashback on all your order. 

Now, for all your other expenses and purchases, you still get rewarded i.e., 2% cashback on all those spends. So, whether it's shopping, dining out, or anything else, you'll earn cashback on it! 

Isn't that exciting? Enjoy your cashback rewards and make the most out of your payments! 

### Complimentary Airport Lounge Access:

You'll get to enjoy 4 free lounge visits at specific domestic airports throughout the year. Isn't that cool? So, whenever you're traveling within the country, you can kick back and relax in those comfy airport lounges on the house!

### Dining Benefits:

You can enjoy up to 20% off at over 4000 partner restaurants across India! It's the perfect opportunity to indulge in some delicious food while saving some money. 

### Fuel Surcharge Waiver:

You'll enjoy a 1% fuel surcharge waiver on your fuel transactions ranging from Rs. 400 to Rs. 4,000 in each billing cycle. So, whenever you spend on fuel within this range, you won't have to pay the usual 1% surcharge, saving you some extra money. The maximum waiver you can get in a single statement cycle is Rs. 500, which is a fantastic way to make your fuel expenses more affordable! 

### Other Benefits:
Now how about making your purchases more manageable? That is possible with your Axis Ace card. It helps you convert your big expenses into easy monthly installments with its EMI option! That way, you won't have to worry about a big upfront payment and can enjoy your new goodies without any financial strain.

### What are the fee & charges for ACE Credit Card?

Nothing in life comes for free! So, let's take a look at the fee you have to pay.

**Joining Fee:** ₹499. However, you can get this waived off if you spend more than ₹10,000 within 45 days of getting the card!
**Annual Fee:** Spend over ₹2,00,000 a year, and you won't have to pay the ₹499 annual fee!

**Note:** Make sure you complete your bill payments on time to avoid finance charges.

### How can you get this card?

First, you need to check if you are eligible for this card or not.
How to check if you are eligible for this incredible credit card?
To apply for the Axis Bank ACE Credit Card, you need to meet the following criterias:

- Age: Your age must be between 21 and 70 years
- Criteria: You must be new to Axis Bank Credit Card
- Nationality: You should be a resident of India, with a valid address and identity proof.
- Income: Your minimum income range should be ₹25,000 or above
- Credit Score: You'll need a credit score of 720 or higher to meet the minimum requirement

### Documents Required:

Before starting the application process please ensure that you have the following documents with you:

PAN card photocopy, color photograph, proof of income (latest payslip/Bank statement/Form 16/IT return copy), residence proof (Passport/Driving License/Voter ID Card/Aadhaar card), and identity proof (Passport/Driving license/Voter ID Card/Aadhaar card/PAN card).

### How do I apply for Axis Bank ACE Credit Card:
The application process is straightforward and can be completed in a few simple steps:

**Step 1:** [Download the ZET app](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play)

**Step 2:** Sign up and add yourself as a customer

**Step 3:** Go to the product listing page and select ‘Axis Bank ACE Credit Card’

**Step 4:** Fill in all the required details and upload the required documents

**Step 5:** Submit the application and wait for approval

Applying for the ACE credit card is super easy. All you need to do is download the ZET app. Once you have the app, not only can you get the ACE credit card, but you'll also have the chance to earn payouts by selling it to your friends. 

You won't believe the awesome range of credit cards available on the ZET App! They've got not just the ACE Credit Card, but also other best credit cards to choose from. So, why wait? Go ahead and grab the ZET app to start enjoying the benefits!

### Frequently Asked Questions:
**1. How can I apply for an ACE Credit Card?**
You can apply for ACE Credit Card through the ZET App. The application process is simple and straightforward.

**2. How long does it take to get approved for an ACE Credit Card?**
The approval process can vary, but in most cases, you may receive a decision within a few business days of applying. Sometimes, it can be faster, while certain situations may require additional verification, leading to a slightly longer process.





Axis Bank Ace Credit Card Review, Features & Benefits

![Navy 3D Illustrated Social Media Marketing Blog Banner (6).png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Navy_3_D_Illustrated_Social_Media_Marketing_Blog_Banner_6_d57b6d28c4.png)

Credit cards have become an essential financial tool, offering convenience and flexibility in managing our expenses. Among the various credit card options available in India, HDFC Bank offers a wide range of credit cards tailored to suit various lifestyles and needs.

HDFC credit cards are well-known for their attractive features, rewards, and perks, making them a super popular choice for anyone who wants convenient and rewarding payment solutions.

In this blog, we will explore the best HDFC credit cards for 2023, highlighting their key features and benefits in simple terms.

### Types of HDFC Credit Cards:
#### 1. HDFC MoneyBack Credit Card:
This Credit Card is a great option to earn rewards on your everyday expenses. You can get cashback on every transaction you make with this card. 

Here are the main features and benefits:

- Reward Points: When you shop on Amazon, BigBasket, Flipkart, Reliance Smart SuperStore, or order from Swiggy, you get 10X reward points. That's not all - for any purchases on EMI at select merchant locations, you earn 5X reward points. For all your other expenses, you still get 2X reward points for every ₹150 spent.

- Redeemable Points: You know what's great about those Reward Points you earn? You can easily use them to get cash credit for your bills or choose some exciting gifts from HDFC Bank's Rewards Catalog!

- Fuel Surcharge Waiver: You won't have to pay any extra fuel charges when you make fuel purchases between ₹400 to ₹5,000. It's like getting a discount on your fuel expenses!

#### 2. HDFC Regalia Credit Card:

If you love traveling, this Credit Card is perfect for you! It comes with a bunch of fantastic benefits, making your trips more enjoyable. From airport lounge access to rewards on your spending, this card has it all for the luxury-loving traveler in you!

Here are the main features and benefits:

- Airport Lounge Access: With this credit card, you get a fantastic perk - 12 free airport lounge visits within India and 6 outside India. So, whenever you travel, you can relax and enjoy the comfort of airport lounges at no extra cost!

- Rewards: You'll earn 10,000 bonus Reward Points if you spend ₹5 lakhs, and an extra 5,000 Reward Points if you reach ₹8 lakhs in a year. Plus, you'll earn 4 Reward Points for every ₹150 spent on all your purchases!

- Travel Insurance: This card offers you travel insurance coverage of up to ₹15 lakhs for air accidents and up to ₹50,000 for baggage losses.

- Dining Benefits: you can enjoy a flat 25% discount at over 2000 premium restaurants. And that's not all! You also get a fantastic 1+1 offer on buffets at 200+ restaurants.

#### 3. HDFC Diners Club Black Credit Card:

If you're someone who loves the premium lifestyle and spends generously, the HDFC Diners Club Black Credit Card is perfect for you! It comes with amazing exclusive features and benefits that you won't find elsewhere.

Here are the main features and benefits:

- Welcome Benefits: Get complimentary annual memberships of Club Marriott, Forbes, Amazon Prime, Swiggy One, MMT BLACK and Times Prime. Plus, when you spend over ₹80,000 every month, you'll receive complimentary vouchers for Ola, cult.fit Live, BookMyShow, and TataCliQ. 

- Reward Points: You'll earn 5 Reward Points for every ₹150 you spend. And guess what? You can even get up to 10X Reward Points when you shop through SmartBuy.

- Lounge Access: You get unlimited free access to airport lounges, making your travels extra comfortable. Plus, when you book flight tickets or hotels on our Smartbuy platform, you'll enjoy some fantastic travel benefits too!

- Golf Privileges: Get complimentary golf games across the finest courses in the world.

### Fees and Charges:

HDFC Bank Credit Cards come with various fees and charges including an annual fee, joining fee (if applicable), interest charges on outstanding balances, cash withdrawal fees, and late payment charges. It is essential to check the specific fees and charges associated with the credit card you choose to make informed financial decisions.

### HDFC Credit Cards Eligibility:

To get an HDFC Bank Credit Card, you need to meet the following criterias:

- Age: Your age should be between 21 and 70 years
- Criteria: You should be new to HDFC Bank Credit Card
- Nationality: You should be a resident of India, with a valid address and identity proof.
- Income Range: You must have a regular source of income. You can be a salaried employee, self-employed or run your own business.
- Credit Score: You'll need to have a good credit score

### Documents Required:

Before starting the application process please ensure that you have the following documents with you:

PAN card photocopy, color photograph, proof of income (latest payslip/Bank statement/Form 16/IT return copy), residence proof (Passport/Driving License/Voter ID Card/Aadhaar card), and identity proof (Passport/Driving license/Voter ID Card/Aadhaar card/PAN card).

### How do I Apply for the Best HDFC Credit Cards:

The application process is easy and can be completed in just a few simple steps:

**Step 1:** Download the ZET app

**Step 2:** Sign up and add yourself as a customer

**Step 3:** Go to the product listing page and select ‘HDFC Bank Credit Card’

**Step 4:** Fill in all the required details and upload the required documents

**Step 5:** Submit the application and wait for the approval process to be completed

Before applying for any credit card, consider your spending habits, lifestyle requirements, and financial goals to ensure that you choose the one that suits you best.

Getting an HDFC Bank Credit Card is really simple! Just download the ZET app, and you can apply for a credit card easily. Not just that, you can also [earn payouts by selling the credit card](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) to your friends. So, don't wait any longer! Get the ZET app now and enjoy all the benefits!

### Frequently Asked Questions:

**1. How do I apply for an HDFC Bank Credit Card?**

You can apply for HDFC Bank Credit Card through the ZET App. The application process is simple and straightforward.

**2. Which type of HDFC credit card is best?**

HDFC Bank offers many types of credit cards, each with specific purposes and income requirements. The best HDFC credit card for you depends on what you need. If you want a lifestyle card, go for Regalia. For travelers, the InterMiles HDFC Bank Diners Club Credit Card is great. If you want fuel benefits, the IndianOil HDFC Bank Credit Card is the best choice. So, pick the one that suits your needs!

**3. What are the credit card limits for various types of HDFC cards?**
The credit card limit for HDFC cards can be different for each type of card. It depends on how much money you earn, your credit score (which shows how good you are at paying back the money you owe), and other things. If you earn more money and have a good credit score, you might get a higher credit card limit.


Best HDFC Credit Cards for 2023: Key Features & Benefits

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ZET is on a mission to enable financial inclusion for the next billion Indians & making their Zindagi Set. We have built a platform that allows users to [sell financial products and earn money online](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) with the potential to make up to ₹1 lakh per month.

ZET is one of the best earning apps, recommended by our users. To make your experience more rewarding, we have introduced the ZET Sales Genius Program. This program will reward our loyal users beyond their regular payouts and help them earn up to 15% higher payout on every sale of credit cards & loans.

### What is the ZET Sales Genius Program?

The ZET Sales Genius Program is our latest introduction to reward our loyal agents beyond their regular payouts. This program will help them set their sales goals and move to the highest level where they will get rewards & gifts like-

- Up to 15% Higher Payout
- ZET Onboarding Kit
- ZET Coins
- Earphones
- Smartwatch
- Special Training and much more

This program will unlock a competitive advantage for our agents to sell more and keep them motivated with a higher payout and additional gifts.

### How to participate in the ZET Sales Genius Program?
Based on the number of sales an agent makes,  he/she will be in either of these 4 levels in the ZET Sales Genius Program-

![ss.png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/ss_4562281511.png)

As the name suggests, you will start as a Beginner. If you have done at least 2 sales in the past 30 days you will be positioned as a Pro, and similarly, if you have done 7 sales in the past 45 days or 15 sales in the past 75 days, you will be an Expert & a Genius respectively. As you complete your targets, you will keep upgrading the ladder.

For example, if you are starting as a Pro in the [ZET Sales Genius Program](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) you need to complete 7 sales in 45 days to become an Expert. You can sell HDFC credit cards, IDFC First credit card, MoneyView loans, etc. to be eligible for the count. In short, only sales of credit card and loans are applicable under the ZET Sales Genius Program.

Once you become an Expert you’ll be able to enjoy benefits like-

- 5% Higher Payout
- ZET Onboarding Kit
- Earphones
- ZET Coins on every customer addition & sales fulfillment
- Rejection Payout
- Exclusive Trainings

Similarly, once you complete 15 sales within 75 days of becoming an Expert, you will be upgraded &  become a Genius. By becoming a Genius, you can enjoy exclusive benefits like-

- 15% Higher Payout
- Smartwatch
- ZET Coins on every customer addition & sales fulfillment
- Rejection Payout
- Exclusive Training

In case you fail to achieve your sales target within 45 days, you will be provided with 15 extra days to complete your open leads. However, if you still are unable to meet your target, you will have to go back to being a Beginner.

### What are the benefits of the ZET Sales Genius Program?

ZET Sales Genius Program helps you earn up to a 15% higher payout in addition to a regular payout. The benefits include-

**1. Higher Payout:** Users can increase their earnings by 15% on every sale of credit cards & loans. Based on the user’s level, a higher payout will look something like this-

- PRO- As a Pro, users are eligible for a 5% higher payout which can be claimed once they upgrade to become an Expert.
- EXPERT- Being an Expert makes a user eligible for a 5% higher payout instantly.
- GENIUS- Users in the GENIUS level will earn a 15% higher payout.

**2. ZET Onboarding Kit:** This is a gift from us to our users with their personalized offer letters, ID Cards, etc. which will be delivered to their doorsteps. A user must fill in their address & t-shirt size in the provided section.

**3. ZET Coins:** ZET Coins are rewards that users get on every customer addition & sale fulfillment. Users also get it as a welcome bonus when they enter a level. ZET Coins can either be converted into cash or used on the ZET store (a virtual online store that we will be launching soon). The value of 100 ZET Coins is ₹5 in cash whereas if you redeem it via ZET Store, 100 ZET Coins will be worth ₹10.

**4. Other Gifts:** Users will receive various gifts like earphones, smartwatches, etc. based on the level, they are in. This will also be delivered to their doorsteps within 30 days of entering your address details. 

**5. Referral Program:** You will receive ₹100 on your first sale, ₹500 on your second sale & 5% of the base payout through the referral program. However, a Beginner can claim the 5% referral payout after becoming a Pro.

Along with the above benefits, users can enjoy benefits like special training, and much more.

### Frequently Asked Questions

**Q.1: What are ZET Coins & how can I redeem them?**

ZET Coins are rewards that ZET gives you as a welcome bonus and on every customer addition & sales fulfillment. You can redeem these as cash or on the ZET store which will be launching soon. 100 ZET Coins equals ₹5 in cash whereas it equals ₹10 on the ZET store.

**Q.2: Are all sales eligible in the ZET Sales Genius Program?**

Gifts & rewards in the ZET Sales Genius Program are applicable only on the sale of credit cards & loans.





What is the ZET Sales Genius Program?

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Are you dreaming of starting your own business in India but worried about taking a loan? Well, guess what - you don't always need a loan to turn your dreams into reality!

Starting your own business is an exciting journey that requires careful planning, determination and sometimes a bit of creativity, especially when it comes to funding. In India, a lot of business owners have started their companies without borrowing any money.

In this blog, we will explore five amazing tips that will help you make your business dreams come true without relying on loans. Whether it's a unique product you want to sell or a service you're passionate about, these tips will set you on the path to success.

### 1. Discover Your Skills and Passion: 
The first step towards starting your business without a loan is to identify your unique skills and passions. Think about what you are really good at and what you love doing. Whether it's baking, graphic design, content writing, or even creating handcrafted products – turning your hobbies into a business can be a fantastic way to start without external funding. By focusing on what you're passionate about, you'll have the motivation to persevere through challenges.

### 2. Bootstrapping:
Start small and grow steadily! Instead of relying on external funding, use your personal savings wisely to cover initial expenses.
- Begin by creating a detailed budget to understand your initial expenses. 
- Prioritize essential costs like product development, marketing and basic operations. 
- By focusing on what's necessary and being frugal with spending, you can stretch your resources further.

### 3. Tap into Your Network:
Your friends, family and acquaintances can provide more than just moral support – they might be willing to invest in your business or help you in other ways. Be open about your business idea and the challenges you are facing. 

Spread the word about your business through social media, attend local events, and join online communities relevant to your industry. You would be surprised how far a strong network can take you in terms of both advice and initial sales. 

However, it's important to treat any financial assistance as a business transaction – outline terms clearly and keep everything transparent.

### 4. Embrace Digital Marketing and Social Media:
In today's digital age, there are many cost-effective ways to market your business effectively. Utilize social media platforms like Facebook, Instagram, and Twitter to showcase your products or services. Engage with your audience by sharing valuable content, running contests and responding to comments. Using digital marketing, you can connect with a larger audience and establish recognition for your brand.

### 5. Explore Alternative Funding Options:
While you're aiming to avoid loans, alternative sources of funding like crowdfunding and angel investors can be valuable options. 

Crowdfunding platforms allow you to present your business idea to a wider audience, and interested individuals can contribute small amounts of money to support your business. Platforms like Kickstarter, Indiegogo, and Ketto are popular choices for crowdfunding in India. 

Angel investors, on the other hand, are individuals who invest their own capital in promising startups in exchange for equity. Be prepared to pitch your business idea convincingly and demonstrate its potential for growth to attract such investors.

****Bonus Tip:** 
Explore various Government Schemes and Grants available for small businesses and startups in India. The Indian government often provides financial incentives, subsidies, and grants to promote entrepreneurship and innovation. Research and identify programs that align with your business goals and industry.

### Conclusion:
Starting your own business without a loan in India is an achievable goal with the right approach. Stay focused on your vision, keep learning and embrace the opportunities that come your way. Building a successful business takes time, dedication and strategic decision-making. With these tips, you can navigate the challenges and create a thriving business on your own terms, without the weight of loans holding you back.

You can join the ZET app with zero investment and [earn money by selling loans and credit cards](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) to your friends. You can start your own business with the money you earn through the ZET app.

### Frequently Asked Questions
**1. Can I really start a business in India without taking a loan?**

Absolutely! Starting a business without a loan is possible, and it can even be a more sustainable approach. By focusing on lean practices, creative funding sources, and careful financial planning, you can build your business step by step without relying on loans.

**2. What are some advantages of starting a business without a loan?**
Starting a business without a loan can help you avoid debt, interest payments and the pressure of repayment. It encourages you to be resourceful & innovative, and it allows you to retain full ownership and control over your business from the beginning.

**3. What are some common challenges I might face when starting a business without a loan in India?**
Common challenges include limited resources, slow initial growth, cash flow management, the need for creativity in funding, potential lack of credibility, and adapting to unexpected changes in the market. However, with determination and well-thought-out strategic planning, these challenges can be overcome. Remember that every business journey is unique. Adapt these tips to your specific situation, and always stay flexible in your approach as you work towards building a successful business without relying on loans.


5 Tips to Start A Loan-Free Business in India

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Are you ready to start a journey towards being financially strong and confident? Choosing the right credit card is like finding the perfect companion for your lifestyle – it can make all the difference! In India, where there are many chances and options available, it's really important to pick the right credit card that fits your own needs.

In this blog, we will walk you through the essential factors to consider when choosing the perfect credit card for your lifestyle in India.

Nowadays, there are lots of apps that help you make money, like the ZET app. This app lets you [earn money by selling credit cards](https://zetapp.in/our-products/credit-cards). So, let's begin!

Here's a step-by-step guide to help you in making a well-informed choice.


### 1. Know Your Spending Habits
The first step towards choosing the right credit card is to understand your spending habits. Analyze your monthly expenses to figure out the categories where you spend the most. 

Different credit cards offer varying rewards and benefits such as cashback, travel rewards, dining discounts, and more. For instance, if you frequently dine out, a card that offers dining discounts or cashback on restaurant bills might be a great choice.

### 2. Identify Your Goals:
Consider your financial goals for getting a credit card. Are you looking to earn rewards for travel, save on fuel expenses, or get discounts on shopping? Choose a credit card that aligns with your aspirations. 

If you are a frequent traveller, a card that provides air miles and travel insurance can be a smart pick for you. If you're focused on saving money, a card with attractive cashback offers or discounts on essentials like groceries could be more beneficial.

### 3. Annual Fee and Charges:
Credit cards often come with annual fees, which can range from nominal to quite substantial. Compare the annual fees with the rewards and benefits the card offers. If the rewards outweigh the fees, it might still be a good deal. 

Additionally, pay attention to the interest rates, especially if you anticipate carrying a balance from month to month. Opt for a card with a reasonable interest rate to avoid high interest charges.

### 4. Rewards and Benefits:
Different cards offer different rewards and benefits. Look for cards that offer rewards tailored to your preferences. Some popular rewards include cashback, travel miles, reward points, and discounts. For instance, if you travel a lot, a card with travel benefits and rewards on flight and hotel bookings could be beneficial. 

### 5. Interest Rates:
While it's advisable to pay off your credit card balance in full each month to avoid interest, understanding the interest rates is crucial. If you plan to carry a balance on your card, focus on finding a card with a lower interest rate to minimize interest charges over time. 

Additionally, be aware of late payment fees and foreign transaction fees if you travel abroad frequently.

### 6. Loyalty Programs:
Some credit cards offer loyalty programs that provide additional benefits for using the card frequently. These could include bonus points, discounts and exclusive offers.

### 7. Cashback and Discounts:
If you're interested in cashback and discounts, look for cards that provide cashback on specific spending categories or offer discounts at partner merchants.

### 8. Credit Limit:
Your credit limit determines how much you can spend on your credit card. It's important to choose a credit card with a limit that matches your spending needs and financial capacity. Avoid cards with very high limits if you're concerned about overspending.

### 9. Read the Terms and Conditions:
Carefully read the terms and conditions of the credit card, including interest rates, fees, penalties, and rewards redemption policies.

### 10. Customer Service:
Good customer service can make a world of difference, especially if you encounter issues with your credit card. Look for credit card providers known for their reliable customer support and easy-to-reach helplines. This can save you a lot of stress and hassle down the line.

In the era of smartphones, managing your credit card should be as easy as ordering your favourite meal. [Pick the credit card on the ZET app](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) that matches your lifestyle and enjoy all the great features it offers. 

So, whether you're a frequent shopper, a travel enthusiast, or someone who prefers to keep things simple, there's a credit card out there in India that's just right for you. By considering your spending habits, preferences, and goals, you can confidently select the perfect credit card companion to enhance your financial journey.

### Frequently Asked Questions

**1. Why is it important to choose the right credit card for my lifestyle?**

Picking the right credit card ensures you get benefits and rewards that match your spending habits and needs, making your financial life more convenient and rewarding.

**2. What factors should I consider when choosing a credit card?**
Think about your spending habits, preferred rewards (cashback, travel miles, etc.), annual fees, interest rates, and additional perks like lounge access or discounts.

**3. Do credit cards in India offer any special discounts?**
Many credit cards offer discounts on dining, shopping and other lifestyle expenses. Look for a card that aligns with your spending habits to make the most of these discounts.

**4. What precautions should I take while using a credit card in India?**
Protect your card details, regularly monitor your transactions, pay bills on time to avoid interest, and stay within your credit limit to maintain a good credit score.



How to Choose the Right Credit Card for Your Lifestyle in India?

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If you're in search of a credit card that perfectly matches your spending patterns and brings a plethora of advantages, look no further than the State Bank of India (SBI) credit cards in 2023.

### What makes SBI Credit Cards interesting?

SBI Credit Cards come with a range of exciting features and benefits that make them stand out. From rewards and discounts to special privileges, these cards offer a world of opportunities to enhance your financial experiences. 

Whether you're a frequent traveller, an online shopper, or someone who enjoys special perks, SBI Credit Cards have something to make your financial journey more thrilling. You can [earn money by selling SBI credit cards](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play) through the ZET app and enjoy the benefits.

In this article, we'll explore the best SBI credit cards for 2023, highlighting their key features and the amazing advantages they offer.

### Types of SBI Credit Cards:

#### 1. SBI SimplyCLICK Credit Card:
SBI SimplyCLICK Credit Card is perfect for the digital-savvy individuals who love to shop online and explore the virtual world.

Here are the main features and benefits:

- Welcome Bonus: Start your card journey with a welcome e-gift voucher that you can use to shop for various brands.
- Online Shopping Rewards: You can earn accelerated reward points on online purchases across various categories such as e-commerce, food delivery, travel bookings and more.
- Milestone Benefits: Enjoy milestone rewards in the form of bonus points when you cross specific spending thresholds.
- Fuel Surcharge Waiver: Avail fuel surcharge waiver at partner petrol stations, ensuring savings every time you refuel.
- Easy Bill Payment: Set up standing instructions to pay utility bills, making the card a practical addition to your financial routine.

#### 2. SBI SimplySAVE Credit Card:
If you're looking for a credit card that's easy to use and helps you save money, the SBI SimplySAVE Credit Card is a great choice. It's simple to earn rewards and get benefits with this card.

Here are the main features and benefits:

- Welcome Offer: Begin your card journey with a welcome e-gift voucher to start a rewarding partnership.
- Reward Structure: Earn reward points on your everyday purchases including groceries, dining, movies, and more, making it easy to accumulate points.
- Fuel Benefits: Enjoy fuel surcharge waivers at partner petrol stations, ensuring savings on every refuelling stop.
- Annual Fee Reversal: Get your annual fee reversal upon achieving an annual spending of ₹1,00,000 or more in the preceding year.
- Easy Redemption: Redeem your accumulated reward points for a variety of options, from gift vouchers to merchandise.

#### 3. SBI BPCL Credit Card:
If you're someone who loves driving and travelling a lot, the SBI BPCL Credit Card is perfect for you. It comes with lots of perks that are all about saving on fuel and making your trips more enjoyable.

Here are the main features and benefits:

- Welcome Benefit: Kick-start your card usage with a welcome e-gift voucher, marking the beginning of your journey with privileges.
- Fuel Rewards: Earn accelerated reward points on fuel spends at BPCL petrol stations, translating into significant savings on your fuel bills.
- Easy Redemption: Redeem your accumulated points for fuel vouchers, effectively reducing your fuel expenses.
- Value-Added Services: Enjoy add-on benefits like access to airport lounges and discounts on dining and shopping.
- Fuel Surcharge Waiver: Benefit from fuel surcharge waivers on transactions made at partner petrol stations.

#### 4. SBI Pulse Credit Card:
If you care about your health and love to stay fit, SBI Pulse Credit Card is made for you. This card offers amazing rewards and perks that fit your healthy and active lifestyle.

Here are the main features and benefits:

- Welcome E-Gift Voucher: Begin your journey with a welcome e-gift voucher, setting the stage for a rewarding credit card experience.
- Health and Wellness Rewards: Earn accelerated reward points on health-related spending categories like gym memberships, wellness services, and more.
- Online Shopping Rewards: Get reward points on online shopping across various categories, adding value to your digital purchases.
- Milestone Benefits: Enjoy milestone rewards when you cross specified spending thresholds, adding an extra layer of excitement.
- Fuel Surcharge Waiver: Avail fuel surcharge waiver at partner petrol stations, ensuring savings on your fuel expenses.

#### Fees and Charges:
The fees and charges for SBI Credit Cards vary based on the specific card and its benefits. Generally, these may include an annual fee, joining fee, interest charges on outstanding balances, cash withdrawal fees, late payment fees, and foreign currency transaction charges.

It's important to review the terms and conditions of each card to understand the exact fees associated with it before making a decision.

#### SBI Credit Cards Eligibility:
To get an SBI Credit Card, you need to meet the following criterias:

- Age: Your age should be between 21 and 60 years
- Criteria: You should be new to SBI Bank Credit Card
- Nationality: You should be a resident of India, with a valid address and identity proof.
- Income Range: You should have a minimum income of ₹25,000 per month. You can be a salaried employee, self-employed or run your own business.
- Credit Score: You'll need to have a good credit score

#### Documents Required:
Before starting the application process please ensure that you have the following documents with you:

PAN card photocopy, colour photograph, proof of income (latest payslip/Bank statement/Form 16/IT return copy), residence proof (Passport/Driving License/Voter ID Card/Aadhaar card), and identity proof (Passport/Driving licence/Voter ID Card/Aadhaar card/PAN card).

### How do I apply for SBI Credit Cards:
Applying for an SBI Credit Card is simple and can be done in a few easy steps.

**Step 1:** [Download the ZET app](https://play.google.com/store/apps/details?id=in.onecode.app&referrer=utm_medium%3Dwebsite%26utm_source%3Dgoogle-play)

**Step 2:** Sign up and add yourself as a customer

**Step 3:** Go to the product list page and select any SBI credit card you wish to apply for

**Step 4:** Fill in all the details and upload the required documents

**Step 5:** Submit the application and wait for the approval process to be completed

Here is an excellent opportunity for you to earn some extra cash! Imagine selling it to your friends using the ZET app and getting those payouts rolling in. How awesome is that? Time to turn your network into a money-making adventure!

### Frequently Asked Questions
**1. How do I apply for SBI Credit Card?**
Applying for an SBI credit card is easy! You can do it through the ZET App. The application process is simple, straightforward and hassle-free.

**2. Can I use my SBI credit card internationally?**
Absolutely! SBI credit cards are accepted almost everywhere across the world.

**3. Is there a late payment fee for SBI credit cards?**
Yes, if you don't pay your credit card bill on time, you may be subject to a late payment fee. It's important to make payments by the due date to avoid these charges.

Remember, each SBI credit card comes with its own set of features and terms, so it's a good idea to thoroughly read the card details and FAQs before applying. If you have any specific questions, don't hesitate to reach out to SBI's customer support for assistance.









Best SBI Credit Cards for 2023 : Key Features & Benefits

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Travelling is a passion for many, but it can be expensive. Thankfully, credit cards can make your travel dreams more affordable and rewarding. In India, there are several excellent travel credit cards to choose from in 2024. These cards not only offer exciting travel perks but also help you save money on your trips. 

Did you know that the ZET app offers a wide range of travel credit cards with incredible benefits? You can recommend these credit cards to your friends and make some extra cash.

In this blog, we'll explore some of the best travel credit cards available in India 2024, helping you choose the one that suits your needs.

### 1. HDFC Bank Regalia Credit Card
If you're a frequent traveller, then the HDFC Bank Regalia Credit Card is your best choice. Here's why:

- **Complimentary Priority Pass:** This card offers you access to airport lounges worldwide through Priority Pass.
- **Travel Insurance:** You get complimentary overseas medical insurance, covering up to ₹15 lakhs.
- **Reward Points:** You earn 4 Reward Points for every ₹150 spent, which can be redeemed for flights, hotel bookings and more.

### 2.  SBI Elite Credit Card
This card is another fantastic travel credit card with attractive benefits:

- **Welcome Benefits:** Get complimentary Club Vistara Silver membership and a gift voucher worth ₹5,000 from any of the partner brands.
- **Milestone Rewards:** On spending ₹10 lakhs annually, you can earn up to 10,000 bonus reward points.
- **Airport Lounge Access:** Enjoy complimentary Priority Pass membership, which gives you access to over 1000 airport lounges globally.

### 3.  Axis Bank Vistara Credit Card
This card is specially designed for Vistara Airlines enthusiasts:

- **Welcome Benefits:** You receive a complimentary Economy Class ticket as a welcome gift.
- **Milestone Benefits:** Spend ₹1.25 lakhs in a year and get one Economy Class ticket free. Spend ₹2.5 lakhs and get one more.
- **Priority Services:** Enjoy priority check-in, boarding, and additional baggage allowance when flying Vistara.

### 4. ICICI Bank Sapphiro Credit Card
This card is a gem for those who love luxury travel:

- **Complimentary Lounge Access:** Access airport lounges globally with Priority Pass.
- **Hotel and Flight Discounts:** Enjoy discounts on hotel bookings through MakeMyTrip and airline tickets on the ICICI Travel Portal.
- **Rewards:** Earn 2 reward points for every ₹100 spent, redeemable for travel vouchers.

### 5. American Express Platinum Travel Credit Card
This card is perfect for those seeking exclusive travel privileges:

- **Welcome Offer:** Get 4,000 bonus Membership Rewards Points as a welcome gift.
- **Milestone Benefits:** On spending ₹1.90 lakhs in a year, get a travel voucher worth ₹7,700.
- **Fuel Surcharge Waiver:** Enjoy 1% fuel surcharge waiver at HPCL pumps.

### 6. Standard Chartered Emirates World Credit Card
For travellers who frequently fly with Emirates, this card is a must-have:

- **Emirates Skywards Miles:** Earn Skywards Miles on every transaction, which you can redeem for flights and upgrades.
- **Complimentary Lounge Access:** Access over 1000 airport lounges worldwide through LoungeKey.
- **Discounts:** Enjoy discounts on Emirates ticket bookings and dining at participating outlets.

### 
7. Kotak Mahindra Bank Royale Signature Credit Card
This card offers great travel benefits:

- **Milestone Rewards:** Spend ₹4 lakhs in a year and get 4 free PVR tickets or 10,000 bonus reward points.
- **Lounge Access:** Access airport lounges in India through the Visa Lounge Program.
- **Fuel Surcharge Waiver:** Enjoy a 1% fuel surcharge waiver at all fuel stations.

### 8. Citi PremierMiles Credit Card
The Citi PremierMiles Credit Card is a versatile option for travel enthusiasts:

- **Miles Redemption:** Earn 10 Miles for every ₹100 spent on airline transactions and hotel stays, which can be redeemed with leading airlines.
- **Transfer Miles:** You can transfer your miles to over 10 airline loyalty programs, offering flexibility in your travel plans.
- **Welcome Miles:** Get 10,000 Miles as a welcome gift.

Check out the ZET app, which helps you find the best travel credit card for your needs. Apply for the card that fits you and enjoy its fantastic features.

## How to choose the right travel credit card?

Choosing the right travel credit card can make a significant difference in your travel experiences and expenses. The best card for you depends on your specific travel preferences and spending patterns. 

In 2024, these top travel credit cards in India offer a range of benefits, from lounge access to reward points and discounts. Before applying for one, carefully evaluate your needs and compare the features of different cards to find the perfect fit for your travel adventures. 

Remember to use your credit card responsibly to avoid accumulating debt, and make the most of the rewards and savings it offers. 

## FAQs

**How can I apply for a travel credit card in India for 2024?**

You can apply for a travel credit card using the ZET app. You will typically need to fill out an application form, provide the required documents, and meet the bank's eligibility criteria.

**Are there any no-annual-fee travel credit cards available in India for 2024?**

Yes, some travel credit cards in India come with no annual fees, but they may offer fewer travel perks and rewards. You will need to weigh the benefits against the annual fee to determine the right card for you.

**Are there any foreign transaction fees associated with these travel credit cards?**

Some travel credit cards may charge foreign transaction fees when you use the card for international purchases. However, many premium travel cards waive these fees to make them more suitable for international travel.

Best Travel Credit Cards in India 2024

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In today's digital age, online shopping has become a convenient and popular way to buy everything- be it clothes, groceries, electronics, booking travel tickets and much more. 

While online shopping offers convenience and a wide range of choices, it's also essential to make secure transactions and get the most out of your purchases. This is where having the right credit card can make a significant difference in your life.

Credit cards in India offer various benefits such as cashback, rewards, and discounts, that can help you save money and enjoy a hassle-free shopping experience.

Did you know that on the ZET app, you can find a variety of credit cards that give you special rewards when you shop online? What’s more, you can earn money by selling credit cards on ZET too.

In this blog, we'll explore the best credit cards in India for online shopping in 2024, making your online shopping experience not only enjoyable but also rewarding.

### HDFC Bank Diners Club Black Credit Card
If you're a frequent online shopper, then this credit card is tailored just for you. It offers a range of benefits, including:

- Welcome Benefits: This card offers you complimentary annual membership of Club Marriott, Forbes, Amazon Prime, Swiggy One, MMT BLACK and Times Prime
- Reward Points: You can earn 5 reward points for every ₹150 spent and these points can be redeemed for a variety of gifts and vouchers.
- Online Shopping Benefits: Get up to 10X reward points on select online partners like Amazon, Flipkart and more.
- Lounge Access: Apart from online shopping, if you love to travel, this card also provides you with complimentary lounge access at airports.
- Additional Perks: Golf privileges, concierge services, and a generous renewal fee waiver.

### SBI SimplyCLICK Credit Card
This credit card is made especially for people who shop online a lot. It's a great option if you buy things on the internet often. Key features include:

- Welcome Benefits: Get FREE Amazon gift voucher worth ₹500
- Reward Points: You can earn accelerated reward points when you shop at popular online retailers including Amazon, Flipkart and more.
- Annual Fee Waiver: If you spend ≥ ₹1,00,000 within a year, you can enjoy an annual fee waiver.
- Fuel surcharge waiver: Get 1% fuel surcharge waiver on purchase above ₹500

### ICICI Bank Amazon Pay Credit Card
If you're a regular Amazon shopper, this credit card might be your ideal choice. Here's what it offers:

- Reward Points: You earn reward points not only on Amazon but also on other online and offline spending.
- Cashback: This card provides cashback as Amazon Pay balance, which can be easily used for future purchases on the platform.
- Fuel Surcharge Waiver: Enjoy a waiver on fuel surcharge when you fill up your vehicle's tank.
- No Annual Fee: This card doesn't have an annual fee, making it a cost-effective option.

### Axis Bank Flipkart Credit Card
If you're a fan of Flipkart, this credit card is designed with you in mind:

- Discounts and Rewards: Earn Flipkart Supercoins, which can be used for discounts on Flipkart and partner websites.
- Lounge Access: You can earn 4 complimentary lounge visits to select airport lounges within India per calendar year 						
- Fuel Surcharge Waiver: 1% fuel surcharge waiver (maximum ₹400 per statement cycle) on fuel transactions between ₹400 and ₹4,000				
- Joining Benefits: Get Flipkart vouchers when you join and make your first purchase.

### Citibank Cashback Credit Card
This credit card is known for its simplicity and generous cashback rewards. You will get:

- Cashback on All Purchases: Earn cashback on all your online and offline purchases, ensuring you save on every transaction.
- Dining Benefits: Enjoy dining discounts at partner restaurants.
- EMI Options: Convert your online shopping bills into easy EMIs with this card.

## Tips for Choosing the Right Credit Card

Choosing the best credit card for your online shopping needs requires careful consideration. Here are some essential tips:

- Analyze Your Spending Habit: Understand where you spend the most online. Is it on e-commerce websites, food delivery apps, or travel bookings? Choose a card that offers the most benefits in those categories.
- Annual Fees: Consider whether you're comfortable paying an annual fee. Some cards offer fee waivers based on spending thresholds.
- Interest Rates: While rewards are enticing, don't forget to check the interest rates. It's essential to pay your credit card bills on time to avoid high-interest charges.
- Joining Bonuses: Many credit cards offer attractive joining bonuses. Look for cards that provide valuable perks when you sign up.
- Additional Benefits: Beyond rewards, consider other benefits such as lounge access, insurance coverage, and concierge services.
- Redemption Options: Check how easily you can redeem your rewards. Some cards offer straightforward redemption processes, while others may be more complex.
- Customer Support: Ensure that the credit card issuer provides reliable customer support and has a strong presence in your area.

Still confused? Take a look at the ZET app. It helps you find the perfect shopping credit card that suits you best. You can apply for that card and enjoy all its benefits.

## FAQs

**How can I apply online for a shopping credit card in India for 2024?**
You can apply online for a shopping credit card using the ZET app. You will typically need to fill out an application form, provide the required documents, and meet the bank's eligibility criteria.

**Can I get a credit card if I have a low credit score?**
It may be challenging to get a premium credit card with a low credit score. However, some banks offer credit cards specifically designed for individuals with lower credit scores. These cards may have fewer rewards and benefits.

**How do I maximize the benefits of my credit card for online shopping?**
To make the most of your credit card, use it for all your online purchases, pay your bills on time, and keep an eye on special promotions and offers from the card issuer. This way, you can maximize your rewards and savings.

Remember that the terms and conditions of credit cards can change, so it's important to check with the respective bank for the most up-to-date information before applying.


Best Online Shopping Credit Cards in India 2024

![IDFC CC.jpg](https://zet-blog-images.s3.ap-south-1.amazonaws.com/IDFC_CC_6d17a2a76c.jpg)

Are you looking for a credit card that's as unique as you? Look no further; the IDFC FIRST Bank Credit Card might just be the perfect fit for you. This credit card provides you a wide variety of credit cards, loaded with features and benefits that make managing your finances easy.

## Understanding IDFC FIRST Bank Credit Cards:

Essentially, a credit card is like a financial superhero that allows you to buy things even if you don't have the money right now. You make purchases using the card, and then you promise to pay the bank back later, usually within a month. 

IDFC FIRST Bank offers you a range of cards that cater to various financial needs and lifestyles. You have the opportunity to make money by selling IDFC FIRST Bank Credit Cards using the ZET app.

In this article, we'll explore the top IDFC FIRST Bank credit cards. We'll explain what makes them special and why they can be really great for you.

## Types of IDFC FIRST Bank Credit Cards: 

Whether you're a shopaholic, a traveller, or someone who loves cashback, there's a card for you. Let's take a look at some popular options.

### IDFC FIRST Millennia Credit Card:
Perfect for the shopper in you! This card offers cashback on various categories like shopping, dining, and groceries.
- 
- Welcome Benefits - Get gift vouchers worth ₹500 and 5% cashback on first EMI transaction.					
- Reward Points - You can earn up to 10x reward points when you shop online, which can be redeemed for discounts or cashback.
- Fuel Surcharge Waiver: Enjoy fuel surcharge waivers at select fuel stations, and save big on your fuel expenses.

### IDFC FIRST Classic Credit Card:
A simple and easy-to-use card for your everyday needs, whether it's shopping or paying bills.

- Movie Discounts: You can get a 25% discount on movie tickets, up to ₹100, when you book them through the Paytm mobile app.
- Interest-Free Cash Withdrawals: You can withdraw cash from ATMs without any interest charges for up to 48 days.
- Flexible EMI Options: Convert your big purchases into easy EMIs with just a phone call.

### IDFC FIRST Select Credit Card:
If you're a frequent flyer or love to dine out, this card offers travel benefits and dining discounts.
- Airport Lounge Access: You can enjoy up to 8 complimentary domestic airport lounge and railway lounge visits per quarter.
- Dining Discounts: You can enjoy up to a 20% discount at over 1,500 restaurants.
- Foreign Currency Markup Waiver: When you use your card internationally, this card has got you covered with zero foreign currency markup.

### IDFC FIRST Wealth Credit Card:
Designed for those who enjoy the finer things in life, this card offers exclusive privileges, concierge services, and more.

- Discounts: You can enjoy up to a 15% discount at over 3,000 Health & Wellness centres. 
- Concierge Services: Access to a 24x7 concierge service to assist you with your travel bookings, reservations, and more.
- Travel Insurance: Get travel insurance coverage for you and your family when you purchase your tickets using this card.
- Fees and Charges:
- There is no joining fees or annual charges associated with IDFC FIRST Bank Credit Cards.

## IDFC FIRST Bank Credit Cards Eligibility:
To get an IDFC FIRST Bank Credit Card, you need to meet the following criteria:
- Age: If you're salaried, you should be 25 years or older; if you're self-employed, you should be 27 years or older.
- Pre-requisite: You should be new to IDFC FIRST Bank Credit Card
- Nationality: You should be a resident of India, with a valid address and identity proof.
- Income Range: If you're salaried, your monthly income should be at least ₹30,000. If you're self-employed, your income tax return (ITR) should be over ₹5 lakhs with a mandate.
- Credit Score: You'll need to have a good credit score
- Documents Required:
Before starting the application process please ensure that you have the following documents with you:
PAN card photocopy, colour photograph, proof of income (latest payslip/Bank statement/Form 16/IT return copy), residence proof (Passport/Driving License/Voter ID Card/Aadhaar card), and identity proof (Passport/Driving licence/Voter ID Card/Aadhaar card/PAN card).

## How do I apply for IDFC FIRST Bank Credit Cards:
Applying for an IDFC FIRST Bank Credit Card is simple and can be done in a few easy steps.
- Step 1: Download the ZET app
- Step 2: Sign up and add yourself as a customer
- Step 3: Go to the product list page and select any IDFC FIRST Bank Credit Card you wish to apply for
- Step 4: Fill in all the details and upload the required documents
- Step 5: Submit the application and wait for the approval process to be completed
- Start offering IDFC FIRST Bank Credit Cards to your friends via the ZET app and boost your earnings.

## FAQs
**How do I apply for IDFC FIRST Bank Credit Card?**
Applying for an IDFC FIRST Bank Credit Card is easy! You can do it through the ZET App. The application process is simple, straightforward and hassle-free.

**What kind of credit cards does IDFC FIRST Bank offer?**
IDFC FIRST Bank offers a range of credit cards tailored to different needs, including cashback cards, travel cards, and lifestyle cards.


Credit Cards from IDFC FIRST Bank: What They Have to Offer!

![EARN COMMISSION_BLOGPOSTDESIGN-01.png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/EARN_COMMISSION_BLOGPOSTDESIGN_01_25164234bd.png)

In today's digital age, there are numerous ways to make money on the internet. One way that can be quite profitable is by selling credit cards online. As the Indian economy is growing, more people are seeking access to credit.  In fact, with the ease of online applications and approvals, today the demand for credit cards is at an all-time high.

Using the **ZET** app, you can work from the comfort of your home and earn good income by selling credit cards online. This could be a great way for you to achieve financial success without any investment.

In this blog, we will explore how this works, the benefits, potential challenges, and some tips to get you started on this exciting journey to financial freedom.

## Understanding Affiliate Marketing:
Affiliate marketing is like being a middle person who connects buyers and sellers. In this case, you become an affiliate marketer for credit card companies. You promote their credit cards online, and when people apply and get approved for a card through your referral, you earn a commission.

## How It Works:
- Choose your audience: Determine the group of people you want to reach. Are you aiming at travel lovers, cashback enthusiasts, or entrepreneurs? Understanding your audience will help you select the right credit card offers to promote.
- Promote Credit Card Offers: Use various online platforms like social media, blogs, websites, or email marketing to promote credit card offers. You can create informative content, reviews, or comparison guides to attract potential customers.
- Earn Commissions: When someone applies for a credit card through your referral link and get approval, you'll earn a commission. Commissions vary depending on the credit card and the affiliate program.

## Benefits of Selling Credit Cards Online:
- Passive Income: You can earn commissions 24/7, even when you're not actively working.
- No Inventory or Customer Support: You don't need to worry about inventory management or customer support; the credit card company handles everything.
- Flexibility: You can do this from anywhere with an internet connection, making it an excellent option for digital nomads or those looking for a side hustle.
- Challenges and Tips for Success:
- While selling credit cards online can be profitable, it's not without its challenges. Fierce competition, changing credit card offers, and evolving digital marketing trends are some of the hurdles you may encounter. To succeed, consider the following tips:
- Stay Informed: Keep yourself updated about the latest credit card offers and industry trends. This will help you provide accurate and valuable information to your audience.
- Build Trust: Establish trust with your audience by offering unbiased advice and transparent information about credit cards. Honest recommendations can go a long way in building credibility.
- Ethical Practices: Always prioritize your audience's best interests and provide accurate information. Avoid promoting low-quality credit cards just for quick commissions.
- Diversify Your Promotion: Use a mix of content types (reviews, guides, videos) and platforms to reach a wider audience.
- Track and Optimize: Use analytics tools to track your performance and adjust your strategies accordingly.

Selling credit cards online for commissions is a viable way to boost your income while helping people discover the right financial tools for their needs. By understanding the basics, embracing the benefits, addressing challenges, and following the tips, you can embark on this exciting journey toward financial success. 

Feeling unsure? Check out the **ZET app**. It helps you discover the right credit card that fits your needs perfectly. You can apply for that card and enjoy all the good things it offers.

## FAQs:

**1. How do I get started in selling credit cards online?**

To get started, you need to educate yourself about credit cards, create a website or blog dedicated to credit card information, and promote your content to attract visitors who may be interested in applying for credit cards.

**2. Do I need to be a financial expert to sell credit cards online?**

While being knowledgeable about credit cards is helpful, you don't need to be a financial expert. However, it's important to understand the basics of credit cards, interest rates, fees, and rewards programs to provide accurate and valuable information to your audience.

**3. Are there any rules or regulations to follow?**

There may be legal and compliance rules depending on where you live and the credit card companies you work with. It's essential to understand and follow these rules when promoting credit cards online.

**4. Is it necessary to have a website or a blog to sell credit cards online?**

While a website or blog can be helpful, it's not always necessary. You can promote credit cards through social media, email marketing, or other online channels.

**5. What are common mistakes to avoid?**

Don't promote bad credit card offers just for commissions, keep your content updated, disclose your affiliations, and always put your audience's best interests first. Being ethical and transparent is key to success.


How can you earn commission by selling credit cards online?

![CC MISTAKES-01.png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/CC_MISTAKES_01_7fd480a847.png)

Credit cards are an important part of our financial landscape in India, offering a world of convenience, rewards, and security. However, when not managed responsibly, these tiny plastic cards can turn into mounting debt. In India, where the credit card market is rapidly expanding, it's crucial to be aware of the common mistakes to avoid while owning a credit card. 
Here are some common mistakes to steer clear of:

### Missing Credit Card Payments
Late or missed payments can have a domino effect on your financial well-being. Not only do they cost you additional fees and penalties, but your credit score also takes a hit, making it much harder to secure loans or any other forms of credit in the future. 
A history of recurring missed payments can signal financial instability to lenders and block your chances of getting favourable credit terms. To prevent this, set up reminders or automatic payments to ensure you never miss a due date.

### Withdrawing Cash Using Credit Cards
While they offer convenience for purchases anytime, using credit cards for cash withdrawals can be a costly mistake. Cash withdrawals often come with high fees and interest rates, making them an expensive way to access cash. 
Consider using your debit card at an ATM or withdrawing cash from your bank account to avoid unnecessary charges.

### Lack of Budgeting and Overspending
A tendency to overspend and the lack of a budget is the perfect recipe for a debt trap. Overspending to accumulate rewards is also a bad habit. Credit card reward programs are designed to be attractive, offering cashback, airline miles, or other great incentives. However, chasing rewards at the expense of your finances is a beeline towards creating debt. 
Without a clear spending plan and an established budget, it's very easy to lose track of expenses and accumulate debt that becomes increasingly difficult to manage. Impulsive purchases and bad spending habits can strain your finances. This, in turn, can lead to a cycle of debt that can be challenging to break. 
Create a budget and stick to it diligently. Monitor your expenses closely and ensure they align with your budget to avoid overspending and accumulating debt.

### Making Only Minimum Payments
While making minimum payments may seem like a temporary solution to manage credit card debt, it can prolong your debt repayment and increase the total interest paid. 
Minimum payments are designed to keep you in debt for an extended period, allowing the interest to accumulate and significantly inflate the total amount you owe. Always strive to pay your credit card bills in full. Clear your debts from smallest to largest to manage them in a phased manner.

### Ignoring Credit Card Statements
People generally neglect to review their credit card statements. Keeping an eye on your credit card statements is crucial to spot any wrong charges or errors. Fraudulent activities can go unnoticed if you don't scrutinize your statements, potentially leading to a higher debt. 
Make it a habit to review your statements thoroughly and report any suspicious transactions immediately to your credit card issuer.

### Maxing Out Your Credit Card Limit
While it might be tempting to use all of your credit limit, doing so can affect your credit score negatively and make it very difficult to manage your finances. 
Hence, it's wise to keep your credit utilization ratio low at 30%. This demonstrates responsible credit usage and positively impacts your credit score.  

### Improper Credit Utilization Ratio
Calling back to maxing out one’s credit card, cardholders must be aware of their credit utilization ratio. 
This ratio measures your outstanding balance against your credit limit, and a high ratio can negatively impact your creditworthiness. It signals lenders that you may be a risky borrower, potentially hindering your ability to secure loans or other forms of credit in the future.
Maintaining a healthy credit utilization ratio is essential for a strong credit score.

### Hidden Charges: The Unseen Burden on Your Finances
APR (Annual Percentage Rate) and interest rates are aspects that people fail to notice when it comes to credit card statements. These charges can significantly increase your burden, especially if you carry a balance from month to month. Before applying for a credit card, it's essential to be fully aware of the interest rates associated with it. 
Become aware of the APR, penalties and interest rates associated with your credit card to avoid unpleasant surprises and make informed financial decisions.

### Excessive Credit Card Applications
Applying for too many credit cards in a short period can indicate financial instability to lenders. 
Avoid this mistake by carefully considering your needs and eligibility before applying for new cards.

## Choosing the Wrong Credit Card: Aligning Your Needs with Card Benefits

The Indian market offers a multitude of credit cards with various features and benefits. Selecting a credit card that is not in line with your spending habits will cause you to lose out on benefits and may cause unnecessary charges.
Consider your spending habits, financial goals, and lifestyle preferences when choosing a credit card. Evaluate the rewards programs, interest rates, and fees associated with different cards to find one that aligns with your financial situation and spending patterns. 


Remember, credit cards should be used responsibly to enhance your financial well-being, not create a debt trap. To harness the benefits of credit cards without succumbing to financial burdens, it's crucial to recognize and avoid common mistakes that can derail your financial well-being. 
Keeping track of your credit score is essential for maintaining good financial health. It can help you understand how lenders view your creditworthiness and identify any areas where you can improve your score.

**ZET(Previously OneCode)** provides a free credit score calculator that makes it easy to stay on top of your credit score. Simply enter your personal information and get your credit score in minutes.

Practice mindful spending, stay informed about your card's terms, and make timely payments to reap the benefits of credit cards without falling into financial distress.

Avoid These Common Credit Card Mistakes in India

![Is 650 a Good CIBIL Score.jpg](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Is_650_a_Good_CIBIL_Score_2a5f866ba5.jpg)

Today, both consumers and businesses rely heavily on credit. The entire system of credit availability is heavily dependent on the applicant's credit score. The Credit Information Bureau (India) Limited (CIBIL) is one of the most popular credit information companies licensed by the Reserve Bank of India.

A CIBIL score displays a person's creditworthiness based on past credit behavior. It helps lenders assess the risk of providing debts like secured loans, unsecured loans, and credit cards in the credit approval process. The CIBIL score is a three-digit numeric value prior to credit management and repayment history. In most cases, a score of 750 or above is considered good. 

To understand if a 650 is a good CIBIL score, you need a better grasp of the credit scores and what they indicate. For the most part, a CIBIL score in the 650–699 range suggests satisfactory or fair creditworthiness, with a possible chance of loan approval.
## What is the CIBIL Score?

Whenever you want to apply for any kind of loan or credit card, you must understand what the CIBIL score is. A CIBIL score is a three-digit figure between 300 and 900 that evaluates your capacity to repay the borrowed funds in time. This three-digit figure acts as a numeric summary of your credit history, rating, and report. You must try to be close to 900, as it is the perfect score. CIBIL acquires data from financial institutions, analyzes the data in order to create reports for every individual, and provides a 3-digit score based on the same.

## What Is a Good CIBIL Score?

A credit score above 750 is typically known as an excellent CIBIL score. The range and definition of a good score vary a bit based on the agencies. India has 4 rating agencies, out of which CIBIL is the most commonly referred credit bureau for credit reports and credit scores. Lenders consider borrowers with a good CIBIL score as their perfect lending candidates. Is 650 a good CIBIL score or not? It may depend on the specific requirements and policies of a lender. For most parts, it is a satisfactory credit score, but trying to improve it and getting a score over 750 would improve the odds of having a loan or credit card application approved.

## Implications of the CIBIL Score Range

**1. 300–549:** This is the basic and lowest range for the CIBIL score. It reflects that a person has delayed their loan EMIs and/or credit card bill payments and, therefore, is at a high risk of turning into a defaulter. People with such a CIBIL score should try to explore options for credit cards for low CIBIL scores.

**2. 550-649:** This CIBIL score range is considered to be fair but also shows that one has been struggling to pay the dues on time. Thinking about how to improve my credit score must be your priority in case your CIBIL score comes under this range.

**3. 650–749:** This CIBIL score range shows that one has good credit behavior. Hence, the answer to the question—is 650 a good CIBIL score?—is yes. Individuals with a CIBIL score in the 650-749 range would have a good chance of getting a credit card or loan approval, but they may not get the best interest rate.

**4. 750–900:** A CIBIL score above 750 is known to be excellent. It shows that one has an impressive payment history and has paid their dues in a timely and consistent manner. People with a CIBIL score of 750 to 900 are considered to be at the lowest risk of turning into a defaulter, and therefore, lenders are prone to providing them loans without any hassle, that too, at lower interest rates.

**Also Read:** [Is 720 a Good CIBIL Score?](https://zetapp.in/blog/is-720-a-good-cibil-score)

## Is 650 a Good CIBIL Score?

A CIBIL score of 650 is a decent credit score. It serves as an indication that you do manage your credit well, but there is also room for improvement. With such a CIBIL score, you are quite likely to qualify for credit cards and personal loans but may not get as favorable terms as applicants with higher scores. Moreover, your credit cards and loans may come with strict terms and high interest rates. Hence, unless you need to take out a loan urgently, you must try to focus on how to increase your credit score quickly. Improving the CIBIL score can help you enjoy better financial opportunities and terms.

## Impact of CIBIL score of 650

There are both positive and negative implications of having a CIBIL score of 650. These are discussed below:

**The Positives**

**1.** Eligibility for secured credit products

**2.** Access to a variety of credit products

**3.** Good potential for loan approvals

**4.** Foundation to build a better score

**The Negatives**

**1.** Higher interest rates

**2.** Less favorable loan terms

**3.** Increased scrutiny from lenders

## How do I Improve My CIBIL Score?

Having a good CIBIL score facilitates access to expanded credit opportunities, lower interest rates, and better loan conditions. You need to adopt a range of responsible financial practices and make use of strategic credit management strategies to improve your CIBIL score. Understanding how to improve your CIBIL score and following those tips would help you optimize your CIBIL history and overall report, and thus, you can enjoy the freedom of robust credit standing.

**Also Read:** [What is the Use of CIBIL Score?](https://zetapp.in/blog/what-is-the-use-of-cibil-score)

## Here are a few tips to improve your CIBIL score:

**Repay your debts on time:** No matter whether it is your loan EMIs or credit card bills, it is vital that you repay the debts in a timely manner. Missing out on repaying any kind of outstanding debt will impact your credit rating. One must try one's best to pay loan EMIs in time, as failing to do so will not only impact credit scores negatively but also incur penalties. You can set reminders or an autopay option in your payment gateway systems to remind you to pay debts on time. You may even have an automatic payment system in place so that the EMI amount is debited from your savings account directly each month.

**Do not take on multiple loans**: People trying to improve their CIBIL score must avoid taking on multiple loans at the same time. It is important to make sure that all old debts have been cleared before applying for a new loan. This would prevent the CIBIL scores from reducing. If a person takes on multiple loans simultaneously, it would show the lender that the applicant may not have enough funds to repay all of them in a timely manner. On the other hand, if you just have a single loan to repay, the lenders are likely to feel more confident in approving your loan, and your CIBIL scores will be untouched.

**You must maintain a healthy credit mix:** People apply for loans to fund diverse necessities of life, like a new home, the higher education of a child, and so on. However, when taking on a loan, you should try to ensure that you have a healthy mix of secured and unsecured loans. Car loans and home loans ideally count for a secured loan, while personal loans and credit card debt would be considered unsecured loans. You must maintain a balance between both, as taking any single type of loan in excess can impact your credit score.

**Also Read:** [How Students with No Income Can Get a Credit Card](https://zetapp.in/blog/how-to-get-a-credit-card-for-student-without-income)

**Do not utilize your entire credit limit:** Credit limit utilization is important for improving credit scores. Not utilizing credit cards to the extreme limit lenders provide is among the easiest and fastest ways to improve credit scores. People should try to spend just 30% of the credit limit provided on their credit card per month. For example, if they have a credit limit of ₹200,000 per month, it would be best to restrict the monthly credit spending to just ₹60,000. In case one does exceed the 30% limit, potential lenders may get the impression that the spending limit of the applicant is impulsive, which may invariably lower the CIBIL score.

**You must extend your credit limit:** If your CIBIL score shows good repayment behavior, there is a chance that your bank will contact you to extend your credit limit. You must not turn down this increased credit limit. Increasing the credit limit does not mean that you have to increase your credit card spending. Basically, the idea is to have a high credit limit but limit your credit utilization in order to improve the CIBIL score.

**Make sure that your credit report is error-free**: You may believe that your credit report is accurate and free of errors. However, there are instances where multiple errors lower the credit score of a person. For example, a person might have paid off their personal loan in full, but there might be some unpaid administrative errors. Hence, it is wise to check the credit score from time to time and make sure that it is error-free before applying for a loan.

## How To Check My CIBIL Score?

To check your CIBIL score, you can visit the official site of either ZetApp or CIBIL. To do so, you will have to:

**1.** Visit [https://www.cibil.com/creditscore](https://www.cibil.com/creditscore) or ZetApp.

**2.** Navigate to the section for checking the score.

**3.** Fill in the required details, like mobile number, PAN number, etc.

**4.** Proceed to the next steps as instructed.

**5.** Check your CIBIL score.

CIBIL score is the most important asset of a debtor. It is a tool for a large number of credit products, though you may not get favorable loan terms and low interest rates. To improve the terms of the credit, you should try to improve your CIBIL score as well. A good CIBIL score is an indicator of good financial health.

## FAQs
**What is the difference between a credit report and a credit rating?**

A credit report pertains to individuals and is issued by one of the four credit bureaus in India: CIBIL TransUnion, Experian, Equifax, or CRIF High Mark. On the other hand, a credit rating is relevant to companies and is provided by rating agencies like CRISIL, ICRA, and others.

**How does the credit score help in filing loan applications?**

A high credit score, ideally above 750, would imply that you have impressive financial discipline and pay off your dues on time. Such a score will increase your odds of being approved for additional credit in the form of a new credit card or loan.

**How is my credit score calculated?**

Credit score calculations rely on information from four main sections of your credit report: your payment history on past credit, the number of active accounts, and your credit-to-debt ratio. These primary factors affect one's credit score and are reflected in your credit report.

**How often can my credit score change?**

Ans. Your credit score fluctuates based on updates to your credit report. Consequently, your score may change as new credit information is added or removed, such as the opening or closing of a credit card or loan account. Banks and other financial institutions should report this information to credit bureaus on a monthly basis. 

**Will a bounced cheque reduce my CIBIL score?**

Ans. No, a bounced cheque does not impact your CIBIL score. However, if you miss any EMI or loan repayment schedule, it will definitely affect the credit score you have achieved. 

**Can I take a personal loan with a credit score of 650?**

Ans. Yes, if you have a CIBIL score of 650, it will be considered a fair score. You can apply for a personal loan with this. But you might not get the best deal with this score. Still, you will be considered a trustworthy debtor who can repay his or her loan on time. 

**Can I get a car loan with a CIBIL score of 650?**

Ans. A good CIBIL score range can give you easy access to car loans. The good CIBIL score range is from 650 to 749. So, you can get a car loan with a CIBIL score of 650. However, there is no minimum score to apply for a car loan. It is advised to maintain at least a 650 score before applying for a car loan. It will give you loans at lower interest rates. 

Is 650 a Good CIBIL Score? Understanding the Impact

![What is the Use of CIBIL Score.png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/What_is_the_Use_of_CIBIL_Score_2afbd5ed28.png)

In the contemporary landscape, credit plays a vital role in our financial lives. CIBIL score is among the most vital factors that lenders take into account when assessing your creditworthiness. The CIBIL score helps indicate your creditworthiness, capacity, and ability to repay a loan. 

Lenders use the CIBIL score to assess the risk of providing you credit. Credit card applications without income proof, for instance, can be possible if you have a CIBIL score of 750 or above. A high CIBIl score is an indicator of responsible credit behaviour and better creditworthiness, which improves the odds of loan or credit card approval to a good extent. However, before getting into what is the use of CIBIL score, it is vital to understand what CIBIL score actually is. 

## What exactly is the CIBIL score?
The CIBIL score is basically a 3-digit numeric summary of the credit history. It tends to be derived by making use of the details present in the 'Accounts' and 'Enquiries' sections of the CIBIL report. The details needed for calculation of the CIBIL score include, but are not limited to, your credit cards and loan accounts, their payment status, and outstanding amounts’ days past due. The CIBIL score would reflect your creditworthiness based on your borrowing and repayment history. The score ranges from 300 to 900. The higher your score, the better would be your chances of getting a loan. This is the key answer to the question, **What is the use of CIBIL score?**.

**Also Read:** [How Students with No Income Can Get a Credit Card](https://zetapp.in/blog/how-to-get-a-credit-card-for-student-without-income)

## How is the CIBIL Score Calculated in India?
Diverse credit bureaus have different algorithms for calculating the credit score. In India, we have four major credit bureaus: CIBIL, Experian, Equifax, and CRIF High Mark. All of these credit bureaus use their own scoring models. Hence, the answer to **how a credit score is calculated** is not that straightforward. This score may vary from one credit bureau to the other. However, there is a major common aspect when it comes to credit score calculation, which is the factors taken into consideration in the calculation of the CIBIL score.  Understanding these factors would also help you to gain a better idea of “what is the use of CIBIL score”.

**1. Payment history:**  Your payment history shall comprise your credit cards, personal loans, education loans, home loans and more. It provides information about late or missed payments, as well as how you have made your payments against the debts. Credit score algorithms generally consider the amount due, how recently and how frequently payments were missed, in order to calculate the credit score.

**2. Credit Utilisation Ratio:** This implies the total amount of credit you have used against the total available credit to you. If the utilisation ratio is more than 30%, your credit score will be impacted.

**3. Total Number of Accounts:** Your credit score can be impacted by the type of credit mix you have in your portfolio. A mix of credit products can help boost the credit score. Hence, if you only have taken out loans, it would be smart to **apply for a credit card online** as well.

**4. Age of Credit:** The older your credit card or loan, the better it is for your credit score calculation. Hence, you should avoid closing your old accounts even if you have paid off the debt.  This also makes it a good idea for teens to get **credit cards** as soon as they turn 18. If you have a long credit history, it becomes easier for lenders to make an informed choice about whether to grant you credit.

## What is Considered as a Good CIBIL Score?
### Value of CIBIL Score

**1. Excellent CIBIL Score:**  750-900.

**2. Good CIBIL Score:**  650-750

**3. Average CIBIL Score:** 550-650

**4. Poor CIBIL Score:** 300-500

## How to Check the CIBIL Score?

**1.** Visit the CIBIL website

**2.** Click on the ‘Get Your CIBIL Score’

**3.** Enter the details necessary, like your full name, email address, and password. You shall also have to include an identification document

**4.** Provide DOB, PIN and phone number

**5.** Select ‘Accept and continue’

**6.** An OTP shall be sent to your mobile phone

**7.** Enter the OTP and then click ‘Continue’

**8.** Select ‘Dashboard’

**9.** Check your CIBIL score

## Understanding CIBIL Score Usage
Both lenders and borrowers can use the CIBIL score. Here are the various **CIBIL score uses**:

One's CIBIL score is a very necessary criterion in the loan application process.

CIBIl score helps borrowers gain a good understanding of their creditworthiness. Any person who can manage their finances in an efficient manner shall have a high CIBIL score.

A low CIBIL score indicates that a person has low creditworthiness. Most lenders are likely to avoid giving loans to such applicants. So, if your credit score is lower and you need a loan, you must think about how to improve it faster.

CIBIL score may impact a person's ability to obtain mortgages, insurance coverage, and even rent agreements.  Many landlords and insurers decide to check the credit scores of prospective tenants and applicants to assess their financial reliability.

**Also Read:** [Is 720 a Good CIBIL Score?](https://zetapp.in/blog/is-720-a-good-cibil-score)

## Benefits of a High CIBIL Score
Credit can go a long way in enabling you to meet your financial goals or enable you to deal with a cash crunch in an emergency. Credit cards for housewives additionally can help them meet various day-to-day expenses of the household and contribute to the monthly budget. Basically, access to credit facilities is important for all. This is particularly true for the Millenials and GenZ generations today, who are much more open to embracing credit cards and loans than their parents used to be.  Today, there are many available **credit cards for 19-year-olds** that allow teens to manage their money and build a credit history from a very young age.

While credit has become an important aspect of the lives of people, banks, non-banking financial companies and other lenders tend to be cautious about approving varied types of loans and approving credit card applications. This caution is maintained as these lenders provide people with funds with the expectation that the applicant shall fulfil their end of the loan agreement and repay on time. Hence, in line with these expectations, they are inclined to onboard customers with a proven track record of making timely payments, as reflected in a good CIBIL score and established in their credit profile. Hence, your CIBIL Score and Report are among the prime factors influencing the credit underwriting and approval process.

When thinking about **what is the use of the CIBIL score**, you need to consider the possible ways to maintain a high score, including:

**1. Loan approval:** Lenders typically prefer borrowers who have high credit scores. After all, high credit scores tend to indicate that you are likely to make your credit payments on time and have a low risk of default. Therefore, having a high CIBIL score improves your odds of getting approved for credit cards, loans and other forms of credit.

**2. Bargaining power:** If your credit score is high, you will have better negotiating power when it comes to loan terms, including repayment periods and interest rates. As you negotiate with lenders, however, you must be cautious about applying for new credit too frequently or to several lenders within a short period of time. Doing so can be mistaken for a sudden increase in credit appetite and might not be positively viewed by lenders.

**3. Higher credit limits:** A high credit score is an indication of responsible credit behaviour. This may lead to lenders providing you with extended credit limits on your credit cards and loans. This may provide you with improved purchasing power and financial flexibility.
 
**4. Lower interest rates:** Having high credit scores can allow you to avail a variety of loans at competitive rates of interest or reduced processing charges. Borrowers who have high credit scores tend to be seen as less risky by lenders. As a result, they can typically qualify for credits at lower rates. This would allow you to enjoy significant savings on interest payments over the long run. Smart modern consumers know that even a minor reduction in the rates of interest across expensive loans, like home loans or car loans, may lead to considerable savings. Hence, they try their best to build and maintain a high CIBIL score and use it to their advantage.

**5. Faster approval process:** Lenders generally streamline the loan and credit card approval process for borrowers who have high credit scores as they pose a lower risk. This basically implies that you may get approved for credit faster, which shall be a huge benefit in situations where you require prompt access to funds. If you are planning to apply for a loan in the near future and have low credit scores, then it is better to think about how to increase your credit score quickly to ensure that your loan gets approved at the time you need the funding.

**6. Better financial opportunities:** Having a high CIBIL score can open up opportunities for various financial products and services for individuals with lower scores. Some might be able to qualify for premium credit cards that provide exclusive rewards programs and benefits if they have high credit scores.  People may even apply for credit cards without proof of income and still have their application approved without any hassle as long as they have high CIBIL scores.

**7. Insurance premiums:**  There are many instances where insurance companies tend to consider the credit score of the applicant when trying to determine the premiums for certain types of insurance, like car insurance.  Having a high CIBIL score, therefore, may lead to lower premiums and save you money over time.

## How to Improve My Credit Score?
People thinking about how to improve CIBIL scores should first try to lower their pending debt. High debt levels on credit card limits may lower credit scores. You have to keep your credit utilization up to 30%. You should not close your old account to avoid any impact because of the history. In turn, they may positively impact your credit health and overall CIBIL score. You need to be patient and committed to improving the CIBIL score, as the result may take some time. 

If you believe that your CIBIL score is lower than your expectations, then it is better to check the credit report on a regular basis and keep an eye out for any kind of errors that can lower your CIBIL score.

**Also Read:** [Is 650 a Good CIBIL Score?](https://zetapp.in/blog/is-650-a-good-cibil-score)

## Conclusion
Overall, a CIBIL score is crucial as it impacts your chances of obtaining loans or credit cards in the future. It has the power to impact your overall lending chances positively as well as negatively by demonstrating your financial responsibility. Consistent effort to maintain a good CIBIL score and responsible financial habits are necessary to have a good CIBIL score. 

## FAQs
**Why is the CIBIL score so important before taking any loan?**

**Ans.** The CIBIL score reflects your creditworthiness. Based on the CIBIL score, the lender institution approved your loans. 

**What is a good CIBIL score to maintain?**

**Ans.** If you have a 750+ CIBIL score, then it will be considered a good number. A good CIBIL score can range between 700-900.

**Can my bad CIBIL score affect my loan approval process?**

**Ans.** Yes, if you do not maintain a good CIBIL score, your loan request is more prone to be rejected. A good CIBIL score will also give you several benefits.

**Will my regular CIBIL score check affect it?**

**Ans.** No, checking your CIBIL score online is generally considered a soft query. It does not affect your score.

**Can I raise a concern over errors in my CIBIL score?** 

**Ans.** Yes, you can raise concerns in case there is any kind of error in your CIBIL score. For this purpose, you must provide supporting documents.

**Can I have multiple CIBIL scores?**

**Ans.** No, each individual can have only one CIBIL score. Even if you have multiple credit cards, your CIBIL score will still be only one. 


What is the Use of CIBIL Score?

![Is_720_a_Good_CIBIL_Score.png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Is_720_a_Good_CIBIL_Score_e5c2edc954.png)

A CIBIL score is like a grade that shows how well you handle money, especially when it comes to borrowing and paying back. The number ranges between 300 and 900. Now, the question is- “**Is 720 a Good CIBIL Score?**” If you have a CIBIL score of 720+, it is really good. A 700+ CIBIL score is good, whereas a below 640 CIBIL score isn’t that great. You can get approved for loans or credit cards easily with a 700+ CIBIL score. 

A high score means you’re more likely to repay what you borrow. So you're in good books now. Banks and credit card companies trust you. Your past credit behaviour drives your credit score. During the loan approval, lenders use the score to give you credits. Continue reading if you want to learn what a good credit score is, the benefits of maintaining a high credit score, what affects your credit score, how you can build or improve your credit score, and more.

## What is a "Credit Score"?
You might consider credit score as a ranking that keeps track of how you're repaying your loans. It’s a bit like your driving record—no accidents or tickets? That shows you’re a responsible driver. Similarly, a solid credit score indicates that you have borrowed credit and repaid responsibly in the past.

To track this, the Credit Information Bureau India Limited (CIBIL) plays a crucial role. It has access to the credit records of nearly 600 million people in India and all financial transactions, whether you’ve borrowed or repaid money. In addition, there are over 2400 members of CIBIL, including different kinds of lenders. The terms "credit score" and the “CIBIL score” are the same. 

**Also Read:** [What is the Use of CIBIL Score?](https://zetapp.in/blog/what-is-the-use-of-cibil-score)

## How Can You Calculate Your Credit Score?

Your credit report tracks the following parameters:

**1. Payment History:** Are you paying your credit bills on time or not

**2. Credit Utilization:** How much maximum credit limit are you using?

**3. Credit Length:** How long have you had credit accounts?

**4. Credit Mix:** Are you only into credit cards or taking loans as well?

**5. Recent Credit Inquiries:** How often do you apply for new credit?

Each of these factors is important. Together, it shows how trustworthy you are when it comes to money. And that is exactly what your credit score shows.

## Why is a Good Credit Score Important?

A good credit score offers the following benefits:

**1. Higher chances of approval:** A high credit score shows how well you manage money. Lenders check if you’re good at paying back the money you’ve taken. Their risk comes down. As a result, financial institutions trust you and are more likely to say “yes” when you ask for credit.

**2. Lower interest rates:** As you're trustworthy with money, banks will charge you less interest rate when you borrow from them. In the end you have to pay less interest in the long run for loans as well as for a credit card.

**3. Access to pre-approved loans:** A high credit score is like a VIP pass. As financial institutions already trust you, they will offer you pre-approved loans or credit cards easily. Moreover, you can get the money faster, with less paperwork and waiting time.

**4. Access to premium credit cards:** Lenders check your credit score as soon as you apply for a credit card. A good score can give you access to premium credit cards. These special cards come with extra reward points, cashback, and exclusive services. However, you may also need to meet some other requirements to get them.

## Credit Card Apply Without Income Proof: Is It Possible?
What if you lose your job or don’t have a steady income—can you still get a credit card? The answer is yes; you can get a credit card without income proof. However, banks want to be sure that you can repay. So, they put some extra limitations.

## Can I Get a Credit Card for a 600 CIBIL Score?
There is no set score one needs to get a credit card. But, the requirements vary with different companies. A 600 CIBIL score makes you eligible to get a credit card. However, higher credit scores have their own benefits. If your CIBIL score is 750+, that’s a good score for getting a credit card.

**Also Read:** [Is 650 a Good CIBIL Score?](https://zetapp.in/blog/is-650-a-good-cibil-score)

## How Can High Credit Usage Sink Your Credit Score?

The utilization rate, or usage rate, shows your credit card limit. It illustrates how close you are to "maxing out" your credit cards. To calculate this, you divide the amount you owe by the card's limit and then multiply by 100.  To find your total utilization rate for all your cards, add the balances and divide by the total of all the spending limits. The lower this percentage, the better it is for maintaining a good credit score.

Most experts say that if you use more than 30% of your credit limit on any one card or across all your cards, your credit score starts sinking. The closer you get to your maximum credit limit—the more your score will drop. 

## How much is the CIBIL score required for a home loan?

You don't need a minimum credit score to apply for a home loan. Banks and other financial institutions look at how well you've handled credit in the past and whether you can repay the loan. Before approving or denying your loan, they check your credit score with CIBIL. This check, a hard inquiry, can slightly lower your credit score. Although there's no minimum score, it's a good idea to keep your score at 750+ to get a home loan with lower interest rates.

## Can I Get a Credit Card for a Low CIBIL score?

If you have a low credit score, apply for a secured credit card. However, such cards need collateral, like a savings account or fixed deposit. In case you have a fixed deposit of INR 50,000, and your credit card limit might be a tad lower than that amount. The bank uses your deposit as security in case you default.

Some lenders don’t ask for proof of income while applying for a credit card, so you may also apply for a credit card for a homemaker. In addition, if you’re an add-on cardholder on your spouse’s credit card, you may also use their credit card.

**Also Read:** [How Students with No Income Can Get a Credit Card](https://zetapp.in/blog/how-to-get-a-credit-card-for-student-without-income)

## Credit Card Limit for ₹30,000 Salary: What to Expect

In India, banks may give you double the credit limit on your monthly income on a credit card. You may get a minimum INR 60,000 credit card limit for your Rs 30000 salary. The maximum credit limit can be increased up to INR 90,000, which is three times your monthly salary. 

The credit limit is double or triple your monthly income. The actual credit card limit varies based on the following factors:

**1. Credit score:** Are you paying back the required money and on time?

**2. Job status:** Do you have a steady job or income source?

**3. Credit history:** What does your financial history look like?

**4. Current debts:** Are you already carrying any loans or credit card balances?

For example, if your monthly salary is ₹50,000 and you have a 750+ credit score, you could qualify for a higher credit limit that may even go up to ₹450,000.

## Start Your Financial Journey: Credit Cards for 19-Year-Olds

Credit cards for 19-year-olds or student credit cards help college students manage their money. These cards allow you to purchase without paying any interest for some time. In addition, you may earn rewards and discounts. They come in two types: basic and secured (where you need collateral). A student credit card helps you to learn how to handle money responsibly while you’re still young. Eighteen years students or older can apply for these cards.

## How Much CIBIL Score Required for a Personal Loan?

Although no minimum CIBIL score is needed to get a personal loan, 750+ is considered a good score. A high score can give you more loan options. You may get a larger loan amount with lower interest rates. The institution may also allow you a longer time to pay it back. A personal loan is called an unsecured loan because you normally don't give the bank or lender any collateral like you would with a home loan or car loan without security at a higher risk. 

## What is the Difference Between a Credit Card And a Debit Card?

While using your debit card, you are spending your own money directly from your bank account. So you don't owe anything to the bank. Debit cards usually limit the maximum cash you can take out daily. However, banks don't charge interest because you don't borrow from them. Compared to credit cards, you don't get any rewards or cashback on debit cards, so it is no help with your credit score.

When you use your credit card, you borrow money from the bank for payment. You buy something with your credit card and decide to pay for it later. You can pay back the money all in one go or in smaller portions over time. The bank will charge you fixed interest if you don't repay the borrowed money within the due date. On top of that, if you're late, they might add a small fee. 

## How to Get a Good Credit Score in Six Months?

Increase your credit score in six months by following these steps:

**1.  Pay on Time:** Pay your bills on schedule. You can also set up auto-transfers for timely payments.

**2.  Debt Reducing:** You can pay off any outstanding balances, as unsettled debts can lower your CIBIL score.

**3.  Maintain Multiple Credit Cards:** Do not cancel all your old credit card accounts. This will give you a longer credit history.

**4.  Avoid Credit Queries:** Don't apply or raise queries for new credit cards or loans too often. 

**5.  Increase Credit Limit:** An increased credit limit gives you additional flexibility and helps you to keep your credit limit higher with low utilization.

**6.  Maintain a healthy balance:** You must maintain secured loans, personal loans, and credit cards.

## Conclusion

So, to answer your question, “Is 720 a good CIBIL score? Yes, it is a good CIBIL score. Work towards a 720 credit score. You'll get better deals on loans and credit cards. Once you reach that number, work smart to keep it. Building a good score takes a few months and depends on the individual situation. Stick to the points mentioned above, and your score will improve. With time, you may even qualify for lower interest rates.

## FAQs

**What are the factors affecting my CIBIL score?**

**Ans.** Improper use of factors like payment, history, utilization, and types of credit cards affects one’s credit history. 

**Can I improve my CIBIL score?**

**Ans.** To improve your CIBIL score, you have to make timely payments, keep your credit balance low, keep a healthy credit mix, and limit new credit inquiries.

**Can a CIBIL score of 720 help me to get a loan?**

**Ans.** Yes, a CIBIL score of 720 is considered eligible for any loan. But, based on that score, the terms and conditions for a loan may vary.
 
**Is the “CIBIL score of 720” excellent?**

**Ans.** A CIBIL score of 720 is marked “good: only. It is not marked as “excellent.” If you want an excellent CIBIL score, you must achieve a 750+ CIBIL score.

**Can a CIBIL score of 720 get me a credit card?**

**Ans.** Yes, a CIBIL score of 720 is good enough for getting a credit card. However, credit cards may also have limitations.

**Can a CIBIL score of 720 qualify me for a mortgage?**

**Ans.** A CIBIL score of 720 can qualify you for a mortgage. However, the terms and interest rates offered may vary based on the lender's criteria and other factors. 

**Is a 720 CIBIL score good for a car loan?**

**Ans.** If you have a CIBIL score of 720, it qualifies you for a car loan. You must check the terms and conditions of a car loan first before taking out the loan.

Is 720 a Good CIBIL Score? What It Means for You

![How Students with No Income Can Get a Credit Card.png](https://zet-blog-images.s3.ap-south-1.amazonaws.com/Add_a_subheading_2_1fae74d8f3.png)

A credit card represents financial responsibility and independence in today's evolving financial world. For Indian students without a reliable source of income, getting a credit card may seem like an unattainable goal. However, this desire is attainable if the proper strategy and knowledge of the possibilities are used. This will help make financial goals a reality by examining how students in India who don't have a job can obtain credit cards.

Credit cards for students with no income is a versatile tool for expenses and everyday purchases; however, it also contributes to the increase of the credit score needed for future financial activities like renting an apartment or a car, taking out a mortgage or loan, etc. 


**Also Read:** [What is the Use of CIBIL Score?](https://zetapp.in/blog/what-is-the-use-of-cibil-score)

## What is a student credit card?

Credit cards for students with no income are valuable tools for teaching students financial responsibility and establishing credit. They are specifically made to cater to the monetary requirements of college students. Some of the basic features of these cards include discounts, rewards programs, and interest-free periods.

Those who are not eligible to get Credit cards for students with no income or do not have a way of meeting the requirements because of a very bad credit score or no past credit score can apply to be an authorised user of a parent or guardian credit card account. The student is given full privilege to use the credit card account and pay for goods and services when needed. Though the account is opened in the primary cardholder's name, subsequent credit card payments shall also be made by him or her. This is because, through credit card privileges, students can establish a credit history without having to manage the card on one's own. 

Banks and other financial organisations provide credit cards, which give a line of credit for purchases or cash withdrawals up to a certain amount. They provide unmatched convenience in budgeting, establishing credit, and handling crises. A credit card helps students establish a good credit history early on, opening doors for later financial endeavours.

Using a credit card for students with no income is one of the easiest ways for students without earnings to secure a credit card easily. 

Crucial matters such as spending limits and the degree of obligation between the primary cardholder and the student should be well spelt out so that one does not undo the other, with the possibility of adversely affecting their respective credit scores.

Student credit cards are similar to normal ones, but they have lower credit limits and less extensive reward programmes, which might initially sound disadvantageous. However, such features are congenial for inexperienced students who opt for credit because the opportunities to take on too much debt are significantly limited.

## Criteria for Eligibility

The criteria for issuance of a Student Credit Card are listed below:

**1.** A person needs to be eighteen (18) years old. You must be enrolled in college or university to be eligible for a student credit card. This is a variable factor as some banks do offer teenagers or people below 18 years old the enrollment of a card but with a guardian supervision.

**2.** A student would need a student ID card. Other essential documents may include the marksheets, school details, guardian details, and other supporting documents of parents.

**3.** Some student credit card companies could urge parents or students to open an account with a fixed deposit for a specific amount. Fixed deposits would act as security because these credit cards provide unsecured credit. 

**4.** Certain banks in India could require an account in a savings account holding a minimum quarterly value to qualify for a student credit card. The banks can also ask the parents to open a joint holding account instead of a single account of the student.

**5.** Certain banks only allow customers who have obtained a higher-education loan from them to apply for student credit cards. However, the terms and conditions may vary depending upon the bank requirements.

Kindly know that these requirements are wide and can be specific according to different banks, hence its advisable to first check the official sites of the bank to ascertain the full criteria.

**Also Read:** [Is 720 a Good CIBIL Score?](https://zetapp.in/blog/is-720-a-good-cibil-score)

## Ways for obtaining a student credit card without income

Most providers specify that the applicant must be in college or a university and produce a college acceptance letter or student identification. The student receiving financial aid doesn't need a regular source of income. However, they might have to demonstrate the availability of documents from education loans, scholarship grants, or their allowances. This enables them to ensure they are in a position to make the minimum monthly payments on their credit and manage their credit wisely.

## Secured Credit Card

This kind of credit card demands that the user deposit cash. This payment, a cash deposit, sets the credit limit and acts as security for the card. To keep cardholders from exceeding their spending restrictions, a secured credit card's available credit limit is frequently equivalent to the payment amount. Secured credit cards work substantially differently from unsecured cards, which lack security and only rely on the cardholder's credit history. Secured bank cards are ideal for people with insufficient credit history or poor credit scores who cannot be approved for traditional credit cards. Offering collateral lowers the issuer's risk and speeds up the application procedure for cardholders.

### Steps for Acquiring a Secured Credit Card

**1. Examine your options:** Secured credit cards are available from several Indian banks. It is readily available after visiting the bank and making the appropriate request based on what best suits your demands.

**2. Apply with a deposit:** Many people apply for a secured credit card by filling out the secured credit card application form and submitting a security deposit. 

**3. Employ caution:** Proper credit management entails that the person embarks on small, frequent purchases and pays all the balances on time.

## Student-Specific Credit Cards

Today, many Indian banks have student-specific credit card facilities. These cards are easier to secure for those who do not have stable employment because of the easier requirements and relatively low credit limits. They are meant to be a viable financial asset to students and help establish their creditworthiness.

**Also Read:** [Is 650 a Good CIBIL Score?](https://zetapp.in/blog/is-650-a-good-cibil-score)

### Steps for obtaining a Student Specific Credit Card:

**1. Verify your eligibility:** The general rule that applies to credit cards for teens is categorised by some bank requirements. Generally, a co-applicant is needed, and the student should attend an accredited school.

**2. Get your documentation ready:** Banks need evidence of your name, address, and enrolment. Ensure that the required documents are nicely arranged so that there are fewer hurdles throughout the application process.

**3. Apply online or in person:** Although you may apply at a branch, most banks allow credit card for teens applications online.

## Shared or Joint Credit Card

Another good choice is a shared credit card, wherein a student is linked to a parent's or guardian's account as an additional cardholder. With this card, students can establish a good credit score and obtain a credit card for students with no income without the need for a steady source of income.

### Steps for obtaining a Joint Credit Card:
 
**1. Take help from the primary credit card holder:** Speak with your guardian or parent about adding you as an authorised user to their current credit card account.
**2. Recognise the terms:** Make sure that everyone understands the conditions of the card and how payments are handled.

## Upgrading the Credit Card Profile

**1. Establishing Financially:** Having a credit card does not end with applying for it; establishing good credit is crucial. Students should focus on managing their cash, budgets, and savings for future basic needs. An understanding of money matters and budgeting should be taught anyway, although there is no money to spend.

**2. Pay before the due date:** Irresponsible handling of credit cards affects credit history. To avoid being charged interest on the credit card, ensure your credit is high, and you pay your bills on time. Do not acquire unimportant items; try to clear the balance in full each month.

**3. Analyse the credit report:** Equally important is monitoring the credit report periodically to correct entries where necessary. The credit report agencies in India are Experian, CIBIL, Equifax, and CRIF High Mark. The reports are beneficial for promptly detecting and preventing anomalies that may appear in the enterprise.

## Other methods for obtaining a student credit card

Besides the strategies mentioned above, students also have other options for credit building that may, in turn, assist them with acquiring their credit cards in the future. One measure includes opting for rental accommodation where the tenant's monthly rent is reported to the credit bureaus. Even though this does not directly offer a credit card, it does offer a positive contribution to their credit history, hence making them appealing to credit card providers. 

Further, students can concentrate on other types of credit that are presumably much easier to qualify for, like a small personal credit from a credit union or store cards. Most people never realise that even a phone contract or utility payment, if reported, can be used to build credit. Positive payment history on these forms of credit will help build students' credit, allowing them to apply for credit cards.

**1. Recurring and Fixed Deposits:** While RDs and FDs have no bearing on the credit rating, it may be helpful to keep these accounts open to demonstrate to potential creditors that one is a good credit risk.

**2. Based on Education Loans:** Educational loans can also help build a credit history. Repaying these debts on time will increase your credit score. Still, expected earnings often secure such loans; reasonable loan management is a sign of maturity.

## Conclusion

Students can properly access credit through the use of student credit cards. Even without a steady source of income, students may still get credit cards by knowing their alternatives and employing the appropriate tactics. Recall to make sensible decisions and handle credit cards with care!

It is thus not easy to secure a credit card for a student with no income, but this should not be a hindrance if a student is determined by following the correct procedure and identifying the right credit card companies to approach. Having a credit card for teens is empowering, and being able to financially support oneself while a student and dealing with the ups and downs of managing a credit card is a definite plus. However, having a credit card may be advantageous before delving into the many possibilities.

When one cannot apply for a credit card for students with no income, and there is no way the student can become an authorised user, the best option remains with secured credit cards. A secured credit card functions similarly to a traditional credit card but with one key difference: what holds it's the client to a contract is asking for a cash deposit guaranteed. This deposit typically defines the credit limit and is practically devoid of risk for credit providers. For students who may have saved some cash, perhaps by working during their summer break or maybe as a result of gifted money, this deposit can be used to get a secured credit card. 

In India, obtaining a credit card as a student without a source of income requires careful thought and consideration of several possibilities. Other ways to get and manage credit include shared, secured, and prepaid cards. Long-term financial stability requires prudent use, prompt payments, and consistent monitoring to build a healthy credit record.

Using these tactics, students can bridge the gap between their current financial status and their desired credit. With cautious handling and a proactive mindset, the desire to get a credit card may come true, setting the foundation for a sound financial future.

## FAQs

**What are student credit cards?**

Student credit cards are issued to students without an income to meet their financial requirements.

**Can a student get a credit card?**

Credit card issuing companies, like banks, issue credit cards to students or add-on cards along with a family member or guardian’s credit card.

**What requirements apply to a student credit card?**

The procedure for obtaining a student credit card is straightforward. Still, certain documents, such as a PAN card, Aadhaar card, and a recent passport-sized photo, are required for approval. Additional documents frequently needed include evidence of enrollment in a school, details about your guarantor, or proof of your income.

**Do students find credit cards useful?**

Students can quickly raise their credit score with an Add-on credit card. With every credit card purchase, students can accrue reward points. The reward points can be redeemed for cash or brand coupons that can be used to purchase food, dining out, vacation, and other items. 

**What is the student card limit in India?**

Student credit cards typically have a Rs.15,000 credit limit. This is to prevent reckless spending from resulting in debt. When a specific amount is spent using the card, the student cards come with rewards, including loyalty programs that pay cashback or cash points.

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