Thinking of taking a loan but confused about how you’ll repay it every month? Wondering what EMI really means or how it’s calculated? You’re not alone. Many first-time borrowers often ask questions like: What is the full form of EMI? How is EMI calculated? Are there different types of EMIs? Here, we’ll break down everything …
Monthly Archives: December 2023
What Is IMPS? – Full Form, Features, Steps, Charges and More
The full form of IMPS in banking is Immediate Payment Service. This fund transfer facility gives you real time updates on your online payments, including bills, fees, tickets, merchants and more. Knowing what is IMPS is important for transferring funds easily as you can use this facility for urgent needs. However, there are limits, charges and …
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What is a Cheque Bounce? Causes and Prevention Tips
Under the Negotiable Instruments Act of 1881, cheque bounce is categorised as an offensive act. If your cheque bounces for any reason, you must face consequences such as monetary penalties, imprisonment or both. It can also impact your credibility and lead to other such negative effects. Read on to learn about the meaning of cheque …
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ATM Card Blocked : 5 Simple Ways to Block & Unblocked ATM Card/Debit Card
The option to block your ATM card is one of the ideal options to ensure better protection of your funds. You can rely on this option if: When you realise your card is not at risk after you block it, you can easily unblock it. This gives you complete access to the funds and ensures …
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Issuer Identification Number: All You Need To Know
Wondering what an Issuer Identification Number or IIN is? Well, it’s an important component of payment cards, like credit and debit cards. The number helps identify the card issuer and your card’s processing network. Apart from this, you get to enjoy several other benefits, making this an important part of your payment card. Here’s a …
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6 Reasons Why Your Credit Card Application Declined & how to improve
If your credit card application is declined, it isn’t the end of the world. Nowadays, applying for a credit card is easier, thanks to fintech advancements that allow you to get quick approval from the comfort of your home. Despite the easy access, issuers have specific eligibility criteria that you must fulfil. All financial institutions …
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Repo Rate & Reverse Repo: Meaning & Key Differences Explained
Reverse repo rate and repo rate set by the RBI are specific monetary policy tools. The policies that govern these rates help manage the country’s overall economy. Specific factors like inflation, currency rate changes and money flow influence these rates. Read the information below to define repo rate and reverse repo rates and learn how …
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Check Your CIBIL Score with PAN Card
Wondering if you can check CIBIL score with a PAN card? The answer is yes. As you may be aware, your CIBIL score plays an essential role in your credit approval process. Lenders consider it a reflection of your repayment behaviour. If your CIBIL score is on the lower end, lenders may hesitate to approve …
Aadhaar Password: How to Open e – Aadhaar Card PDF Easily
Downloaded your e-Aadhaar and can’t open the PDF? Feeling stuck at the password prompt, wondering what it could be — your name, Aadhaar number or something else? Don’t worry, you’re not the only one facing this. The e-Aadhaar PDF comes with a built-in password for security, and it’s usually a combination of your personal details. …
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Credit Note: Its use, components and other important details
Businesses issue a GST credit note under special circumstances that allow them to correct any discrepancies in bills and invoices. It helps businesses maintain their account books without any discrepancies. Issuing credit notes is more convenient than reissuing new invoices, making them more favourable. Read on to know the meaning of a credit note, its …
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