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Channel Financing: All You Need To Know About Maintaining Cash Flow

Maintaining cash flow is one of the priorities of any business owner, irrespective of the scale of the enterprise. This is why channel financing is becoming a well-known solution for the unhindered productivity of many businesses.

It is an innovative solution that provides working capital to the manufacturer or supplier without adding a burden on the customer. With third-party involvement, a smooth transition takes place for convenient business practices.

Read on to learn the meaning of channel finance, how it works, its features, benefits, eligibility and more.

What is Channel Financing?

Also called supply chain finance, this is a lending facility that provides working capital to businesses through different channels. In simple terms, it is a small instant business loan that allows you to arrange funds before the bills are cleared.

Opting for this, you can lower your credit cycle to zero by arranging upfront cash for your raw material, delivery, production and other expenses. This way, you can improve the supply chain management system without digging into your savings.

Channel Financing Example

To better understand how the channel finance facility works, consider an example. Assume ABC Company is a supplier of a product, and XYZ Company places a bulk order. Now, to manufacture the product, ABC needs raw materials, a workforce, funds for transportation, and other miscellaneous expenses.

After calculating the complete cost of production for the order, ABC raises an invoice. They send a copy of the invoice to the financing company and the customer, which is XYZ Company in this case.

The lender will verify the documents for loan approval. If XYZ Company accepts the invoice, the loan is then disbursed. Using these funds, ABC Company will manufacture and deliver the product to the XYZ Company. XYZ Company will pay the cost to the lender, closing the loan.

Features and Benefits

The following are some reasons why channel financing is beneficial for all the entities involved in the supply chain management system.

Swift Approval

With the majority of lenders allowing online applications, you can apply and get the funds within a few hours. This helps you save time and get funds quickly. However, it is important that you keep all your documents ready and double-check all details mentioned.

Zero Collateral

Channel financing is an unsecured loan, which means you do not have to provide any valuable asset to get the funds.

Increased Efficiency

In business, delayed payments are common. If you rely on a customer to clear the invoice to start production for next order, your business can slow down. By opting for this facility, you can avoid cancelling orders due to insufficient funds.

Convenient Cash Flow

It gives you a head start on your production without relying on the customer to make an advance payment.

Easy Repayment Plan

The process is very organised, as lenders maintain cash flow without adding financial liability to either entity involved. The customer is aware of the total payable cost and can easily pay the complete amount after delivery. This also maintains transparency for them while reducing the risk for manufacturers.

Eligibility and Documents Required

While all channel finance companies have their specific policies, here are some criteria that you can consider for most lenders.

Must be a micro, small, and medium enterprise
Must have a business vintage of at least 3 years or as per the policy of the lender
Must meet the minimum turnover limit of the lender
Must be an Indian resident
Must be between 21 and 65 years of age

In addition to that, you need to provide the following documents at the time of application. Keeping this list handy helps you save time in the process and get quick approval.

KYC documents, such as PAN card and Aadhaar card
Certificate of business
Income tax return for last year
Profit and loss statements
Address proof of business
Bank statement

Thanks to the digital application process and fintech advancements, it is easy to compare and choose the best option for borrowing. This way, you can manage all your financial needs without hassle. Similarly, you can arrange funds for your personal requirements with top lenders online.

Fibe Instant Cash Loan is one such option that gives you up to ₹5 lakhs without collateral through an online application. We have easy-to-meet eligibility criteria that allow us to extend loans to applicants who are not eligible for traditional bank loans. This is because we rely on an alternative credit scoring system. Thus, you can apply even without a high credit score.

Enjoy swift disbursal, minimum paperwork, affordable tenure, and a customisable repayment plan. You can also close the loan before tenure ends without any penalties. Apply now by downloading our Personal Loan App or registering on our website!

FAQs on Channel Financing

What is the interest rate for channel financing?

Similar to any other loan, channel finance interest rates depend on many factors:

The creditworthiness of both parties
Marketing conditions
Tenure
Loan amount, etc.

What is the difference between channel finance and supply chain finance?

Channel finance is more comprehensive than supply chain finance, encompassing the distribution network.

What is loan channelling?

It is a synonym for channel finance that provides loans to small scale businesses.

Mudra Loan Under Pradhan Mantri Mudra Yojana

The Union Government extends collateral-free Prime Minister Mudra Loans to help finance micro, small or medium enterprises. This financial aid can help you start, enhance or expand your business based on your goals.

To know more about the Mudra loan scheme, including what it entails, its eligibility and the documents required, read on.

What is the Mudra Loan

A Mudra loan funds startups and growing businesses under the Pradhan Mantri Mudra Yojana for the non-corporate sector. Here, ‘Mudra’ is an acronym for Micro Units Development and Refinance Agency Ltd. The Mudra loan scheme works to empower small businesses with financial aid for growth.

Types of Mudra Loans

Per the PMMY loan (Pradhan Mantri Mudra Yojana) provisions, MUDRA has created various categories of loans, such as:

Shishu: Loans up to ₹50,000
Kishor: Loans from ₹50,000 up to ₹5 lakhs
Tarun: Loans from ₹5 lakhs up to ₹10 lakhs

These categories are based on the entrepreneur’s or micro unit’s growth stage and financial needs. The government’s priority is to offer Shishu loans to encourage small-scale proprietors in India’s rural and urban areas.

Mudra Loan Providers

There are many providers of Prime Minister Mudra loans. You can avail of this loan through qualified member lending institutions, such as:

Public Sector Banks
Non-Banking Finance Company (NBFC)
State-operated co-operative banks
Rural banks from the regional sector
Micro Finance Institution (MFI)
Private Sector Banks
Small Finance Banks (SFBs)

Eligibility For a Mudra Loan

Meeting some general eligibility criteria helps you qualify for this loan. These are:

Age:

Minimum: 18 years
Maximum: 65 years

Eligible Entities:

Individuals: Including proprietary concerns, partnerships, private limited companies, public companies and other legal entities.
Enterprises: All non-farm enterprises engaged in manufacturing, trading and services. Agriculture-allied activities are also included under the PMMY scheme.
Entities: Private and public limited companies, sole proprietorships, partnerships, LLPs, NGOs, trusts and cooperative societies.

Eligibility Criteria for Individuals

Indian citizen
No criminal record
No bank or financial institution payment failure
Good credit history
Educational qualification
Business activity

You may be required to demonstrate skills, experience or knowledge relevant to the proposed activity.

Other Criteria

Applicants should be engaged in income-generating activities
Non-farm enterprises should be involved in trading, services and manufacturing sectors

Paperwork Required for Mudra Loans

Once you know the eligibility for a Mudra loan, you will have to work on gathering documents. The documents you need for a PMMY loan depend on the type of loan you select. Check the tables below:

Paperwork for a Shishu Loan

Document Type	Details
ID Proof Self-attested	Choose one: 1. Aadhaar Card 2. Voter’s ID Card 3. PAN Card, Passport 4. Driving Licence 5. Government Photo ID
Address ProofSelf-attested	Choose one: 1. Telephone or Electricity Bill 2. Latest Property tax receipt (Less than 2 months old) 3. Passbook or bank account statements (attested by bank officials) 4. Aadhaar Card 5. Passport 6. Voter’s ID Card 7. Domicile Certificate 8. Certificate issued by a Government Authority/Local Panchayat/Municipality
Applicant’s Photograph	2 copies of recent colour photographs, not older than 6 months
Quotation of Machinery/Items	Quotation for machinery/items to be purchased, including the following details: Supplier name details and price
Proof of Business Identity/Address	A copy of the following as per relevance: • Relevant Business Licences • Registration Certificates • Other documents related to business ownership and address

Paperwork for Kishore and Tarun Loans

Document Type	Details
Identity Proofself-attested	Choose one: 1. Passport 2. Aadhaar Card 3. Driving License 4. PAN Card 5. Voter’s ID card
Address Proofself-attested	1. Recent telephone and Electricity bill 2. Property tax receipt – not older than 2 months 3. Voter’s ID card 4. Aadhaar Card 5. Passport of Proprietor/Partners/Directors
Photograph of Applicant	2 copies of recent colour photographs – not older than 6 months
Proof of Business Identity/Address	1. Licenses 2. Registration certificates 3. Other documents related to business ownership and address
Bank/Financial Institution Default Status	Applicant should not be a defaulter in any bank or financial institution
Statement of Accounts	Last 6 months’ statement of business account from your existing bank, if any
Financial Statements	The last two years’ balance sheets income tax/sales tax returns – for cases from ₹2 lakhs and above
Projected Financials	Projected balance sheets for one year (working capital) or for the loan period (term loan) – for cases from ₹2 lakhs and above
Sales Achievement	Sales achieved during the current financial year up to the date of application submission
Project Report	Report on the proposed project, including technical and economic viability
Company Documents	1. Memorandum and Articles of Association of the company 2. Partnership Deed of Partners
Asset & Liability Statement	Statement from the borrower, including Directors & Partners, if no third-party guarantee is provided

Application Process for a Mudra Loan

Now you need to understand how to apply for a Mudra Loan. You can get Prime Minister Mudra loans through two means. These are:

Offline Process

You can apply for this loan offline by following these steps:

Find and visit your nearest eligible Member Lending Institution
Submit the loan application form with proper information
Complete other loan formalities with the required documents
After applying for the loan wait for verification and approval
Once approved, you will get the loan in your bank account

Online Process

You can get an e-Mudra loan by following these steps:

Gather all necessary documents
Visit the PM MUDRA official website
Select the Udyamimitra portal
Click ‘Apply Now’
Click on what best describes you as an applicant from this list:
- New Entrepreneur
- Existing Entrepreneur
- Self-employed Professional
Enter your name, email and mobile number
Click on ‘Generate OTP’
Enter the OTP to register
Fill in your personal and professional details
Click on ‘Loan Application Center’
Choose your loan type:
- Shishu
- Kishore
- Tarun
Enter data about your business (including industry, business name and activity)
Enter owner information, existing banking facilities and choose a preferred lender
Attach all required documents
Submit the application
Save the Application Number (to check the status)

At every stage of business, you require funds for your operations, expansions and diversification. If you need to supplement business financing or do not qualify for a Mudra loan scheme, you can get the needed funds from Fibe.

The Fibe Instant Personal Loan offers up to ₹5 lakhs and helps you get competitive interest rates by submitting minimal paperwork. This is an entirely digital process with instant approval. This enables you to cater to urgent monetary requirements with ease.

Zero preclosure charges and a 36-month repayment timeline help you borrow and repay the loan comfortably. Register on our website or download our Personal Loan App to acquire the funds you need to start or grow your business.

FAQs on Mudra Loans

What is the interest rate of a Mudra loan?

Interest rates for these loans are deregulated. Each associated lending institution charges its own interest rates in adherence to RBI guidelines. Usually, the rates on these loans are nominal.

What is the ₹10 lakh loan from the government?

The Tarun Mudra loan under the PMMY offers up to ₹10 lakhs for small businesses. You can apply for it from various financial institutions.

What is the benefit of a Mudra loan?

A Mudra loan offers many benefits. Some of these are:

Easy eligibility criteria
Collateral-free facility
Easy loan disbursal process
Multi-faceted utilisation of funds

Which bank is the best for a Mudra loan?

Numerous public sector banks, state-operated co-operative banks, private sector banks, rural banks from the regional sector and small finance banks provide a Mudra scheme loan. Compare each bank’s fees, interest rates and requirements and choose the one that best matches your needs.

What is the fee for a Mudra loan?

For amounts up to ₹50,000, there is usually no processing fee applicable on a Mudra loan. For amounts that are more than that, lenders may charge a processing fee along with GST.

ECN in CIBIL Report: Know Why It Is Important for Loans and Credit Cards

An ECN in a CIBIL report is a key component that helps lenders track your credit history before extending an offer. Since your credit card and loan offers depend on many eligibility parameters, the first thing banks and NBFCs check is your credit report. This gives them accurate information about your behaviour towards credit repayment.

Since this report contains your complete information, you must allow the financial institution to review your report. This is where the control number in CIBIL report is useful. By sharing this number, you can give the issuer or lender access to check your report generated on the CIBIL website.

Read on to know what is control number in CIBIL report, its uses and how to find it.

Introduction to ECN

Also known as the Enquiry Control Number in CIBIL report, it is a nine-digit alphanumeric code unique to your credit profile. Every generated credit report has a different number, which helps you find your report from millions of others on the CIBIL website.

Every time you generate a report, CIBIL gives you a new ECN number. This ensures you know which credit report you are sharing with your lender. This gives you a fair idea of your credit eligibility, as you have reviewed your report beforehand.

Purpose of ECN

Here are three reasons why this number is important.

Tracking Specific Credit Report

Its main role in the financial domain is locating a borrower’s credit report on the CIBIL website. It acts as an identification number for your credit report generated for a specific time period.

Reviewing Your Credit Profile

Sharing this number with the credit card company or lender allows them to check your loan and credit card score along with your repayment history. This way, you can maintain transparency with the financial institution, especially for loan offers. A good credit score allows you to negotiate for lower interest rates or higher loan amounts.

Managing Vast Data

Since CIBIL is India’s most popular credit bureau, it is trusted by the majority of financial institutions. Since it keeps track of all your credit reports generated in the past, this control number is useful for managing and tracking reports.

How to get the ECN

If you are unsure about how to get this number, here are different methods you can choose from.

Check Your Credit Report

If you have recently generated a fresh report from the CIBIL website, then you can easily check this number. You can find it on the top of your credit report as ‘Control Number’.

Generate a CIBIL Report

To generate this number, you can visit the official TransUnion CIBIL website and get your report. If you are doing this for the first time, you can get it for free. Otherwise, you will have to pay ₹118 for a one-time view and ₹550 for a monthly view. You can also choose from other packages to get your report.

You can also get your free report and score on Fibe by sharing your basic details online.

Also Read: What is DPD in CIBIL Reports

Calling CIBIL Helpline

You can contact customer care to know your ECN number by calling +91 226140 4300.

Requesting the Lender

You can also ask your lenders or credit card issuer to share this number once they have access to your report.

In conclusion, you can get this number by running a free credit score check online on Fibe or the TransUnion CIBIL website. Since all credit card issuers and lenders check your credit score before approving alone, you can use the CIBIL ECN number to keep track of all your applications via your report.

You may not be eligible for the financial product if you don’t meet their credit criteria or have many discrepancies in your repayment history. This is why we at Fibe have an alternative credit scoring mechanism, which allows us to assess your eligibility without relying on your loan and credit card score.

With a Fibe Instant Cash Loan, get up to ₹5 lakhs with nominal paperwork at an affordable interest rate. Get the best offer for yourself by downloading our Personal Loan App or applying on our website online.

FAQs on ECN in CIBIL Report

What is the control ID of the CIBIL score?

It is a synonym for Enquiry Control Number or ECN in CIBIL report.

How can I check my control number?

You can find this number on the credit report that contains your loan and credit card score and history.

How do I know my control number?

You can generate your credit report on the TransUnion CIBIL website or on Fibe to get this number. Once generated, you can find it in the top right corner of your report.

What is my control number?

It is a 9-digit number on the CIBIL report that verifies a specific report generated for a specific period.

How To File ITR Without Form 16? Alternative Documents And Steps

To file ITR without Form 16, you need to replace the missing document with alternative paperwork. Filing ITR before the due date is mandatory for all citizens of India earning over the taxable threshold limit. This is also important for avoiding penalties past the due date.

Incomplete documentation is one of the common reasons for missing the deadlines. If you do not have Form 16, you should know the documents you can attach instead. Read on to know complete information on filing ITR without Form 16.

Understanding Form 16

This is an important document for salaried employees for annual income tax return filing. It includes all the deductions of the employee as well as total taxable income, appearing as a vital document for calculating returns.

Also Read: What is ITR & its Importance?

It has two parts. Part A focuses on tax deducted at source (TDS) from your salary. This includes:

Personal details such as name and address
PAN and TAN details of employee and employer
Employment period
TDS deduction and relevant details

The following is the list of details included in part B of the form:

Net annual salary
Dearness allowance
Rent allowance

In addition, it includes taxable deductions under the following sections of the Income Tax Act:

Section 80C
Section 80CCD
Section 80CCC
Section 80G
Section 80D

Also Read: Types of ITR Forms in India

When the Employer Does Not Issue Form 16

All employees must issue Form 16 to their staff for tax filing if they have deducted tax at source. In case they have paid TDS to the government but have not issued the form, a penalty of ₹100 applies every day to the employer or company.

It is only when an employer has not deducted TDS, that they do not provide Form 16 to their employee. In such a situation, you can apply with other valid documents.

Alternative Documents for Filing ITR

The following are acceptable if you want to file ITR without Form 16.

Salary slips for the assessment year
Bank statements for the same
Proof of house rent allowance
Proof of leave travel allowance
TDS certificate from the bank
Home and education loan payment certificates
Proof of investment for deduction
Form 26AS

Step-by-step Guide to Filing ITR Without Form 16

Here are the steps on how to file an IT return without Form 16:

Step 1: Collect all the Documents

Start by collecting all the documents relevant to ITR filing for the particular financial year. You can ask your employer for a pay slip to compute your total salary. Even if you have switched jobs, collect all the relevant documents of your salary from your current and past employer.

Step 2: Calculate Annual Income

Using all the pay slips, calculate the total income earned during the financial year. Make sure to include income from other sources, such as rent, interest from investments, dividends, etc.

Step 3: Find the TDS Figures

In the next step, you should determine if there has been any tax deduction on your income. If your bank or issuer has made any deduction, you can find the details on the certificate.

Step 4: Check for Deductions or Exemptions

If you are paying premiums for health insurance, have an ongoing home loan, or are investing in a long-term deposit, then you can claim deductions. Checking the applicable deductions and exemptions allows you to save tax.

Step 5: Claim Your Deductions

Depending on the applicable section, you can claim tax deductions up to a specified limit on your total income.

Step 6: Know Your Payable Taxes

After calculating your total taxable income and removing the deductions, the next step is to compute the total payable tax.

Step 7: File ITR

Once you have an estimated taxable income and valid documents as proof, you can simply file your ITR on the income tax website.

Also Read: Personal Loan Without ITR

With regular ITR filing, you not only comply with the law but can also enjoy many benefits as it serves as valid proof of income. It also includes your address and other relevant details which helps to get a faster approval on credit applications.

If you are looking for instant financing for umpteen requirements, the Fibe Instant Cash Loan is a smart option. You can get up to ₹5 lakhs without end-use restrictions and affordable interest rates.

What’s more, you can apply online with minimum documentation on meeting simple eligibility criteria. With the option of foreclosure at no added cost and a comfortable tenure of up to 36 months, you can enjoy stress-free repayment. Register on our website or download our Personal Loan App to get a quick personal loan online.

FAQs on ITR Without Form 16

Without Form 16, can I file ITR?

Yes, by providing another document as proof for calculating the payable income tax you can file your returns.

What happens if Form 16 is not given by the employer?

In such cases, the most common question that comes to mind is, ‘Can I file ITR without Form 16?’ The answer is yes. You can opt for alternative documents to provide income and deduction proof and file your ITR.

Is form 16A mandatory for ITR?

No, if you don’t have this form available, you can still file your IT returns.

How do I get my Form 16 online?

You can request your employer or download the form through the Income Tax Department or TRACES portal.

How to Set Out on Your Educational Journey with Marksheet Loans

A marksheet loan helps ensure financial limitations do not stand in the way of you fulfilling your educational aspirations. These loans help you pursue higher education, usually related to graduate, post-graduate and vocational courses. To know more about what these loans entail, their eligibility and the documents required, read on.

What is a Marksheet Loan?

When pursuing higher education, you may realise that high tuition and living expenses are narrowing your choices. If you have been admitted to an accredited or highly-ranked education institute and are a deserving student, you can take a marksheet loan. Its name comes from the fact that it is based on your marksheet or examination scores.

This personal loan is tailored to fill the gap to help you study in a college/university of your choice either within or outside the country. You can get a marksheet loan online from many lenders based on your eligibility and the institution you have been awarded admission to. The amount varies between up to ₹20 lakhs or more based on the financial institution.

The best part about such courses is that you do not have to repay them while studying or while the course is ongoing. Instead, you can graduate or complete the course and then start repaying after about 1-1.5 years. This moratorium period depends on the financial institution, and the interest accrued during this period is usually added to the amount you owe. Thus, your parents or co-borrowers need not repay this loan.

Also Read: Education Loans

Eligibility Criteria for Marksheet Loans

Ensure you qualify before applying for this loan, as it requires you to have high grades and admission to a reputed college or educational centre. Lenders normally offer a loan to you if your chances of employability after the course are high. You may be either a student, a self-employed/salaried candidate or have salaried/self-employed parents.

Age Requirements:

Minimum Age: 18 years
Maximum Age: 35 or more years

Co-Applicant Obligation:

Required for full-time courses (parent, guardian, spouse, or parent-in-law)

Collateral Requirement:

Not required for certain loan amounts, usually up to ₹7.5 lakhs
Required for certain loan amounts, usually more than ₹7.5 lakhs

Educational Requirements:

Educational Outlook: Pursuing a graduate, post-graduate degree, vocational or PG diploma course
Institution: Admission to a college or university recognised by UGC/Govt./AICTE/IMC

Also Read: Challenges With Traditional Education Loans

Paperwork Required for Marksheet Loans

Before you apply online for a marksheet loan, keep the following documents related to you as the applicant and your guarantors/co-borrowers (usually parents) ready.

Identity Proof: Passport, Voter ID, Driving License, PAN Card, Aadhaar Card

Address Proof: Utility Bills (electricity, telephone), Passport, Ration Card, Driving License, Aadhaar Card, Rental Agreement, Property Documents, Maintenance Bills

Income Proof:
If guarantors/co-borrowers are salaried employees:

– Recent Salary Slip/Certificate with Form 16

– Bank Statement: Last 3-6 months

– Job Continuity Proof: Appointment Letter/Experience Certificate

If guarantors/co-borrowers are self-employed professionals:

– Bank Statements: Last 6 months

– ITR: Last 2 consecutive years

Application Documentation: Appropriately filled loan application form, 2 passport-sized photographs, admission letter, 10th/12th mark sheet or latest education certificate, statement of cost of study

Additional Proof for self-employed:

Office Address Proof: Utility bills, property documents, rent agreement
Business Existence Proof: Tax registration, shop establishment proof, company registration certificate

Courses Financed By Marksheet Loans

Some of the courses covered under these loans are:

Graduation and post-graduation courses along with degree or diploma courses
Education in disciplines such as medicine, management, IT and more
Technical as well as vocational training courses such as nursing, teacher training, aviation and more

Also Read: Education Loan For Professional Courses

Expenses Covered by Marksheet Loans

Some of the typical expenses covered by this loan are:

Tuition fees
Living and accommodation expenses
Commuting expenses
Books, equipment, computer, lab, exam and other fees
Travel expenses from place of residence to the college/institution
Other expenses incurred in the course of completion

Interest Rates of Marksheet Loans

While marksheet personal loan rates may change over time, here are the rates from premium financial companies as of August 2024:

Bank	Interest Rates (Per Annum)
State Bank of India	8.10% onwards
HDFC Bank	9.05% onwards
Canara Bank	8.80 % onwards
Union Bank of India	8.20% onwards
Bank of Baroda	8.15% onwards
Punjab National Bank	9.20% onwards

Also Read: Personal Loan Vs Education Loan

In case you are unable to qualify for competitive marksheet loans or are falling short of funds in your academic pursuits, you can pay for any ed-tech course on EMI with Fibe. Get up to ₹5 lakh to sign up for any online course and upskill to give yourself the best chance to succeed.

Take up to 3 years and repay comfortably in low-cost or no-cost EMIs. With minimal documents and an easy application process, Fibe’s EdTech Finance offers you a great way to accomplish your educational goals. Download the Fibe App or visit the website to explore its benefits.

FAQs on Marksheet Loans

Can I get a loan on my 12th marksheet?

Yes, you can. Most lenders offering marksheet loans require a copy of your 12^th or 10^th standard marksheet. You can apply for this loan with even 50% marks with certain issuers.

How do banks verify marksheets?

The bank or lender will contact your school or educational institute to verify your marksheet.

Can I get a loan on my degree certificate?

Yes, but first, you must be eligible for a marksheet loan. If eligible, certain lenders will issue the loan.

Need Aadhaar on PVC Card? Know the Features and Online Steps

Do you know you can get Aadhaar on a PVC card? UIDAI introduced this option to solve the problem of the durability of Aadhaar cards. Since it is a valid proof of ID, carrying it with you can help you verify your identity. Over time, this can damage your card due to normal wear and tear.

This is because when you receive an original Aadhaar card from UIDAI, it is a paper document. While some individuals opt to laminate it, this is not a permanent solution and can get damaged quickly. You can avoid this by opting for an Aadhaar card on a PVC card to provide longevity.

Read on to learn its features, benefits, application steps and more.

Features and Benefits of a PVC Aadhaar Card

Note the following features to help you decide why you should switch to a PVC card.

Better Security

An upgraded card contains many security features, which make it a better option than a paper Aadhaar card; this includes:

Embossed Aadhaar Logo
Hologram
Ghost image
Guilloche Pattern
Issue Date
Micro text
Print Date
Secure QR Code

These details are hard to copy and replicate, which reduces the risk of forgery and identity theft. Creating a copy of a PVC card is much more difficult than a paper card. This way, it protects against tempering.

Also Read: Benefits Of An Aadhaar Card

Compact Size

It’s debit card-sized, allowing you to easily carry it in your purse or wallet without any risk of damage.

Durable

Polyvinyl Chloride (PVC) is a remarkably durable material. Thus, rain and hot weather do not have much effect on it. Even if you keep it in your pocket, it will not get damaged or broken very easily.

Long Life

Due to its durability, you will most likely need only one card. Even a laminated paper card must be remade after a few years, as it can chip or fade over time. You don’t need to re-order a PVC-based card unless you have lost the card or changed your details.

Easy Online Application

You can simply apply for it as well as verify your details from your home. It is also delivered to your residential address.

Also Read: Masked Aadhaar Card

Apply for an Aadhaar PVC Card

Here are the steps you need to follow to convert your Aadhaar card to a PVC card.

Step 1: Go to the official UIDAI website

Step 2: Select your preferred language
Step 3: Click on ‘Order Aadhaar PVC Card’ under the ‘Get Aadhaar’ tab
Step 4: Select the ‘Aadhaar Number’ or ‘Enrolment ID’
Step 5: Enter the required details and captcha code and click on ‘Send OTP’
Step 6: Enter OTP to complete the verification
Step 7: Preview your details on the screen
Step 8: Click on ‘Next’ to proceed
Step 9: Choose your preferred payment options and click on ‘Make Payment’
Step 10: Pay the amount and download the receipt

The UIDAI charges a nominal fee of ₹50 to issue you a PVC-based card. This charge is for printing and delivery.

Checking Your Application Status

To check the delivery status of your Aadhaar PVC card online:

Go to the official website
Following this, select ‘Check Aadhaar PVC Card Status’ under the ‘Get Aadhaar’ section
After entering your 14-digit SRN number and captcha code, submit the details

Also Read: How to Check Regular Aadhaar Card Status

After that, you will get your instant update online.

As an important document to prove your identity, you can use an Aadhaar card to get a loan, credit card, bank account, or other services. It is valid as your proof of Identity as well as proof of address, allowing you to reduce the time taken on the processing of your application.

If you are looking for a financing option with quick approval and speedy dispersal, consider the Fibe Instant Personal Loan. It allows you to apply for a maximum amount of up to ₹5 lakhs with zero end-use restrictions. You can use it for any of your planned or unplanned financial requirements.

With Fibe, you can apply online for a streamlined application process, with minimum documents and from the comfort of your home. You can also close your loan before the tenure without any penalties to save on paying high interest. To apply, download our Personal Loan App or visit our website now!

FAQs on Aadhaar PVC Card

How to get an Aadhaar PVC card?

You can apply for your Aadhaar card on a PVC card on the UIDAI portal.

Is an Aadhaar PVC card delivered?

Yes, you can order an Aadhaar PVC card and get it delivered to your residential address via post.

Is a PVC Aadhaar card good or bad?

Getting an Aadhaar on a PVC card is good to protect your document against a number of damages.

How to track PVC Aadhaar card status?

You can do this on the UIDAI by selecting the option on the dashboard and providing your details.

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A Quick Guide to Understanding Pre-Approved Personal Loans

A pre-approved personal loan can give you quick access to funds, helping you manage your planned or unplanned needs effortlessly. You must be financially flexible in the modern world. You can adapt to most changes or variations throughout your financial journey with these loans. Read on to understand these loans better.

What is a Pre-approved Loan?

A pre-approved personal loan is a borrowing tool. Lenders provide you with this facility if you fulfil certain financial prerequisites. Lenders study your financial information in detail before pre-approving you for a loan.

Loan pre-approval includes the review of various financial facts about you. Some of these are:

Credit score
Credit history
Income history
Spending habits
Debt-to-income ratio

A lender concludes whether you are eligible for a pre-approved loan based on this assessment. If approved, in some cases, lenders may even sanction a pre-approved personal loan without documents.

Also Read: Instant Loan Without Documents

This is because of your existing relationship with the lender and the fact that you have repaid your dues on time. After approval, you can get the loan amount based on the decided loan terms.

With a good credit history, you can get lower interest rates. You must understand that pre-approval does not guarantee you a loan. You may even get an instant pre-approved loan from the lender that you already have an account with.

What is a Pre-qualified Loan?

A pre-qualified loan is a loan offer that the lender makes to you at your request. To get a pre-qualified loan, you have to submit your personal and financial documents to your lender. The lender will then assess your credit standing and consider whether you are eligible.

Check Personal Loan Eligibility Criteria

Pre-qualified vs Pre-approved Loans

To better understand these two loans, read about the major differences between the two.

Parameter	Pre-qualified Personal Loan	Pre-approved Personal Loan
An in-depth review by lenders	Sometimes	Always
Required information	Current income, debt, assets, credit documents	Valid job, identity, address, income documents
Purpose	Helps lenders understand if you are a potential borrower	Lenders check your creditworthiness before extending a pre-approved offer
Process details	It may take from a few minutes to a few hours to get updated information about your application	You can use the website or mobile app of the lender to check every step and its status.

Features and Advantages of a Pre-approved Loan

A pre-approved loan comes with excellent features and advantages that help you get stress-free access to funds.

Faster Approvals

Loan pre-approval leads to quicker loan approvals. That is because the lender has already assessed your financial background.

Minimal Documentation

You do not need to struggle with filling out several forms and submitting loads of documents. The lender already has the required data, thanks to the pre-approval process.

No Hidden Charges

Most lenders will list out all the charges related to your pre-approved loan, if any. This drops the risk of you succumbing to any hidden costs.

Potential Savings

With a great credit history, lenders may offer you a lower interest rate with your personal loan.

Swift Disbursal

These loans are usually dispersed very quickly by most lenders.

Hassle-free Experience

Enjoy a smooth loan application process, as you are already a pre-approved applicant.

Also Read: How To Improve Your Credit Score

Key Considerations When Applying for a Pre-approved Personal Loan

Before you utilise the pre-approved loan facility, you need to remember that this loan offer:

Does not guarantee loan approval
Is merely an estimate of your loan eligibility
Provides interest rates based on your creditworthiness
Details the maximum amount you can borrow
May be changed by the lender

Tips to Improve Your Pre-approval Eligibility

To ease the pre-approval process, focus on maintaining or improving the following.

A good credit score
Healthy credit history
Ample savings in your bank account
Utilising both secured and unsecured forms of credit
Stable employment
Stable income

Pre-approved personal loans are a great financial tool. These loans can help you in times of need. Loan pre-approval can also help you get funds to make smart purchases and investments after proper consideration and planning.

Access an Instant Personal Loan of up to ₹5 lakhs at competitive interest rates on Fibe. Get benefits like quick disbursal, flexible tenure, minimal documentation, and more. Download the Fibe App or log in to our website to get started with an easy and swift digital application.

FAQs on Pre-approved Personal Loans

Can I get pre-approved for a personal loan?

You can get pre-approved for a personal loan with the right credit track record and by being financially responsible.

How to check PAPL eligibility?

Different lenders maintain varying pre-approval standards. However, having a good credit score and history, a regular income, investments and savings is the best way to fulfil most lenders’ eligibility criteria.

Can a pre-approved loan be declined?

Pre-approved personal loans are not guaranteed loans. The issuer may conduct further checks to assess your repayment capacity. The loan application may be declined if your repayment capacity is not deemed to be satisfactory by the issuer.

Is being pre-approved good?

Pre-approval signifies that a lender is satisfied with the checks it has conducted towards your financial standing. It can help you get the maximum sum at favourable interest rates.

SMS Frauds – Its Types And Tips to Stay Protected

SMS frauds are not something of recent times, but now there are new ways of carrying out such scams. This includes pretending to be a reliable source, such as a bank or any other financial institution. It can cause a threat to your account or profile, which may require you to take immediate action.

Other text message scams include sending you fake offers to get your private details. Awareness of these kinds of scams is one step closer to protecting your identity and finances. Read on to know its different types, tips for protection and more.

Types of SMS Phishing

A fraud text message will always aim to get you to click on any link or provide your personal details. Depending on the context of the message, you may receive many types of fraud messages.

A comment type of fraud is smishing. This word is a combination of SMS and phishing. When a cybercriminal sends you a text message asking for any sensitive information and asking you to click on any link, it falls under this type.

Another type of common fraud is SMS spoofing. In these cases, they will pretend to be a bank, where you have an account or any financial institution telling you to complete the registration process. They may also present you with pre-approved offers or prizes.

Also Read: Loan Fraud And How To Avoid

How to Detect SMS Fraud?

Smartphones often come with a spam detection option that identifies such text message scams. You can also opt for a feature that turns off notifications from unknown numbers. Here are some other tips to detect any fraudulent SMS.

A legal organisation, such as your bank or any institution, will not call you a ‘user’ but use your real name
If their phone number is unrecognisable or suspicious
If there are grammatical errors in the text message
If they are threatening action and providing a link to solve the problem
If you get a random OTP followed by a call or email
If it contains a strange URL
If they ask you to link your account, but you have not applied for any such process
You can also search the number online
If the SMS asks you to download an app which is not available on the Google Play Store or App Store

Also Read: Fake Loan Apps

Keeping these points in mind helps you distinguish text message scams from authentic SMS from banks or any valid platforms. Furthermore, you can report fraud SMS on time to avoid substantial loss.

Tips to Protect from Smishing

Here are a few useful tips to prevent falling prey to such scams or avoid large financial losses.

Don’t click on any link immediately or in panic
Read the text carefully before taking any steps
Know that banks mostly communicate via email if it’s urgent
Don’t download any app via SMS link
Don’t share any details over text
Reverse search the number online to verify the sender’s identity
Don’t enter any OTP unless you are in the process of registering for verification
Report fraud immediately

In case you receive any such SMS, you can report it to the Chakshu portal. This is a government facility to protect you against any fraudulent communication through calls, SMS or WhatsApp. In case you or anyone you know has fallen for such scams; you must report it to the cybercrime department.

You can call the crime helpline number 1930 to report fraud SMS in India. Alternatively, you can visit https://www.cybercrime.gov.in.

By knowing these tips, avoiding SMS frauds or any fake calls is easy. It is also important that you only share your information on reliable platforms, especially when you are applying for a financial product.

Fibe is a reliable platform with ISO/IEC 27001 Certification and PCI DSS App-based journey that protects all your data when you apply. Opting for the Fibe Instant Cash Loan allows you to get a maximum loan amount of up to ₹5 lakhs for your umpteen requirements. You can comfortably pay this loan over a tenure of 36 months.

We also have competitive interest rates, a streamlined digital application process and minimum paperwork involved. What’s more, you can close your loan before the tenure without paying any penalty charges. Simply download our Personal Loan App or visit our website to apply now!

FAQs on SMS Frauds

How to protect from fake SMS?

The best way to protect yourself is to ignore such texts and report them on the Chakshu portal.

How to block loan calls?

To block all telemarketing calls, you can send an SMS with the text ‘FULLY BLOCK’ and send it to 1909. This works for all network providers.

How do I remove my number from the spam list?

There is no way for you to remove your number from the list of telemarketers. However, opting for DND or blocking these calls works best.

What if we receive a fraud SMS?

If you think any SMS is phishing, you can report it on the Chakshu portal.

Apply for e-PAN Online: Know the Easy Step-by-step Process

The steps to apply for an e-PAN online are very simple and require only your mobile number. Indians above the age of 18 years need a PAN card to open a bank account or to avail of other financial products. Therefore, it is important that you apply for it on time.

With the growing fintech industry, digital application is a common trend. If you want to apply for a loan or open a bank account, you can do it online and submit your documents in soft copy. The same is applicable if you want to apply for an e-PAN card. Here is a quick overview of the complete process.

e-PAN Card: Overview

This is a digital version of your physical PAN card that you can use for online applications, tax filing, and more. This way, you don’t need to create photocopies of your card for the verification process. This makes it an eco-friendly method.

It is a valid document for any government or banking process. You can easily download it in just a few minutes from the NSDL, UTIITSL or Income-Tax Portal. Once generated, you become eligible to apply for a wide range of services online.

Eligibility to Apply for an e-PAN Card

Check the criteria you must meet to generate an e-PAN card:

Be an Indian resident
Not have a PAN card already
Have a valid Aadhaar card
Have an active mobile phone number
The registered mobile number must be linked to your Aadhaar card
Have an updated Aadhaar card with the correct details

By meeting these criteria, you can apply and download an e-PAN card.

Also Read: How to Link PAN Card to Aadhaar Card

How to Apply Online?

Here are the steps to apply for an electronic PAN card on different government portals.

Via NSDL Website

Step 1: Visit the NSDL website
Step 2: Select ‘Apply’ under the ‘Application for allotment of New PAN’ section
Step 3: Select the right option, enter your details and submit the form
Step 4: Note the Token Number shown on the screen
Step 5: Click on ‘Continue with PAN Application Form’
Step 6: Enter your personal details
Step 7: Select the option to not receive the physical PAN card
Step 8: Submit the application and make payment

Upon sending the application, you will get an acknowledgment number in your mail. You can use it to check your e-PAN card status or download it.

Also Read: How To Apply For Pan Card Online

Via UTIITSL Website

Step 1: Go to the official UTIITSL website
Step 2: Select the ‘PAN Card for Indian Citizen’ option
Step 3: Click on the ‘Apply for New PAN Card (Form 49A)’ tab
Step 4: Select the ‘Digital Mode’ to submit the documents
Step 5: Click the ‘Submit’ button
Step 6: Note the reference number and click on ‘OK’
Step 7: Enter the required personal details and upload the documents
Step 8: Make payment to get the acknowledgement on your email ID

Via Income Tax Portal

Step 1: Visit the Income Tax portal
Step 2: Click on the ‘Instant e-PAN’ option under the ‘Quick Links’ tab
Step 3: Click on ‘Get New e-PAN’
Step 4: Enter your Aadhaar number and click on the ‘Continue’ button
Step 5: Tick the checkbox to accept the terms and conditions and click on the ‘Continue’ button
Step 6: Enter the OTP received on your Aadhaar registered mobile number and click on ‘Continue’
Step 7: Click on ‘Validate Email’
Step 8: Select the checkbox and ‘Continue’
Step 9: Check your email for the acknowledgement number and confirmation

After 10 minutes of receiving the email, you can download your e-PAN card.

Also Read: How To Apply For A Lost Pan Card

Checking e-PAN Card Status and Downloading It

You can easily check it on the Income-Tax department’s e-filing portal with the following steps.

Step 1: Click on the ‘Instant e-PAN’ option
Step 2: Select the ‘Check Status / Download PAN option’
Step 3: Enter your Aadhaar card number and click on ‘Continue’
Step 4: Enter the OTP, select the checkbox and click on ‘Continue’

After this, you will get your e-PAN status on the dashboard. If your card is ready, then you can download it.

With the simple online processes, applying and downloading this card is easy and time-saving. Likewise, you can also apply for financing with the Fibe Instant Personal Loan to get up to ₹5 lakhs at an affordable interest rate.

We allow you to apply with minimum documents and choose a comfortable repayment tenure of up to 36 months. You can also foreclose your loan anytime without additional fees. To apply online, download the Fibe Personal Loan App or visit our website.

FAQs on e-PAN Card Online

How can I download my e-PAN card?

You can generate an electronic PAN card on the e-filing portal of the Income-Tax department with your Aadhaar card.

Can I apply for an e-PAN?

It is the same process as applying for a PAN card online, where you opt for a soft copy instead of a physical card.

Is e-PAN free of cost?

No, applying for a PAN card requires you to pay a fee.

Is there any difference between a PAN card and an e-PAN card?

No, both cards contain the same details.

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What is a Credit Card CVV Number? Why You Need to Worry About It?

A credit card CVV number is an added layer of protection for your card information and your identity. While shopping with credit cards, there is always a risk of fraud and phishing as you share your card details. To protect against such risks, issuers apply many protective measures. One such measure is a CVV number for credit cards.

Read on to learn more about it and how it prevents fraudulent activities online or at POS terminals.

What is CVV?

Before moving ahead, you should know the full form of the CVV code. It stands for Card Verification Value. It is also mentioned by another name such as:

Card Security Code
Card Validation Code 2
Card Identification Number

It is a three-digit code on your card, which is important for completing transactions. Know that it is also mentioned on debit cards, as it is an essential feature for security.

Also Read: Credit Card Vs Debit Card

How It Works to Protect Against Fraud?

Depending on whether you are making payments online or offline, the CVV number performs a dual role. Here is how it protects you during different modes of payment.

In Online Payments

To make an online payment using your credit card, you need to enter a few details, which include:

Credit card number
Cardholder’s name
The expiry date of the card
Card security code, CVV

Upon entering these details, the payment gateway verifies the information. Since it is against the Payment Card Industry Data Security Standard, merchant payment portals cannot save your details on the platform. Therefore, every time you make a transaction, you have to enter these details manually.

This ensures that the card is present with the shopper while making the transaction and that they are not using someone else’s details. In case you enter the wrong CVV number, the payment will be declined. As such, it acts as an authentication checkpoint.

In Offline Payments

If you’re making a payment by swiping your card, the POS machine reads all your card details. It cross-verifies the detail on the front of the card with the information on the back. If both the details match, only then will your transaction be successful.

Where Can You Find It?

The location of your card security code, CVV, depends on your credit card payment network. If your payments are authorised by Mastercard, Visa or Discover payment network, then you can find it on the back of your card. It is located under the magnetic strip and on the right side of the signature.

However, if you are an American Express credit card holder, it is at the front, above your card number. Since such critical information is accessible directly on your card, it becomes crucial to keep your card safe.

Also Read: Visa Master Card vs Rupay Credit Card

If you can avoid it, do not hand over your card at reception, restaurant, hotels or any other place to make the payment. Besides, it is best that you swipe your credit card yourself. Additionally, for online payment, ensure that the merchant is reliable and the payment platform is secure.

However, the best way to ensure that there is no breach of data and nobody can see your credit card information is to opt for a numberless credit card. Such credit cards do not have any information printed on your card. This way, even if you hand over your card to the receptionist for payment, there is no risk.

One such card is the Fibe Axis Bank Credit Card. It’s India’s first numberless credit card. As a cashback card, it gives up to 3% cashback on food orders, travel and entertainment expenses. Additionally, you can get 1% cashback on all other spending categories.

It is a RuPay-based credit card, which allows you to conveniently make UPI payments at a lower cost. Its other features include one complimentary domestic lounge access per quarter and a fuel surcharge waiver of 1% up to ₹400 per billing cycle. To apply, download the Fibe App now on your smartphone and get started!

FAQs on CVV Number

How do I find my CVV number?

You can find it on the back of credit cards. However, this only applies to Mastercard, Visa and Discover credit card users. If you have an American Express Card, then your credit card CVV no. is on the front.

What is the CVV number on an ATM card?

It is similar to the number on a credit card. Both perform the same function of protecting your card details against fraud. Depending on your payment network and issuer, it can be three to four digits long.

Is CVV a password?

No, it is a detail mentioned on your credit card, similar to your card number, cardholder’s name and expiry date.

Is CVV private?

Yes! It is a confidential detail that you should not share with anyone, not even the customer care executive of your issuer.