Choosing Payment Options during Checkout

For an expensive online purchase, do you pay in full or take the benefit of an EMI scheme? Depending on the range of credit cards you have and the ongoing offers, you may have the following options during checkout: Full upfront payment. Full upfront payment with discount. Interest-EMI without discount: The EMIs add an interest… Continue Reading

Which Life Insurance Polices Offer Loan Facility?

You must have heard that you can get a loan against your life insurance policy. Are you aware that all life insurance policies are not eligible for a loan facility? Yes, only a certain category of life insurance products are eligible for a loan against policy facility. Types of Life Insurance Products There are broadly… Continue Reading

How to Avoid Being Victim of an Identity Theft?

Here’s another case of identity theft. The victim was a finfluencer and he narrated his ordeal lucidly in a Twitter thread. You can go through the Twitter thread for a detailed account — Here is the TLDR version: He started getting calls from recovery agents. Checked CIBIL report which showed a digital loan. Had… Continue Reading

How to Avoid Taking Too Much Debt?

Debt is not evil. In fact, if used responsibly, debt can be extremely useful. Yes, taking on debt involves additional cost in the form of interest. Clearly not desirable but that’s just the cost of capital. If you are using your own funds for purchase, consider the possibility that those funds could have been invested… Continue Reading

How Fintech Loans Can Deceive You

I will give you Rs 1 lacs. You have to pay me 5% interest. Sounds like a good deal? I will add a few caveats. You must pay 5% interest upfront. Pay off the loan in 3 equal monthly installments of Rs 33,333 each. Is this a joke? No, it is not. This is the… Continue Reading

How Credit Card Refunds Are Adjusted?

Ever wondered how refunds from failed/reversal/refund transactions are adjusted to your credit card bills? You may think, since the transaction will eventually be reversed, the bank will not charge you for the transaction. You are right, but the timing of the reversal/refund may sometimes complicate things a bit for you. RBI has specified the adjustment… Continue Reading