Know About Advance Tax: Calculation and Due Dates

Advance income tax, also known as ‘pay as you earn’, is when you pay your tax liabilities in the same year. However, you don’t pay in lump sum but rather in instalments. You can easily pay the tax online through the official website of the Income Tax Department.

Additionally, there are certain terms and conditions on who is liable to pay advance tax and how it is calculated. Read on to learn more.

Who Should Pay Advance Tax

You must pay advance income tax in case you fall under any of the following:

  • Salaried Individual, Freelancer or Business Owner: You need to pay advance tax if you fall under these categories, and your total tax liability for the year amounts to ₹10,000 or more.
  • Senior Citizens: You enjoy an exemption in case you are a senior citizen above the age of 60 and are not engaged in business. However, if you earn an income from a business, you need to pay the tax.
  • Presumptive Income for Business: If you opt for the presumptive taxation scheme under Section 44AD, you are liable to pay the tax in advance.
  • Presumptive Income for Professionals: If you are an independent professional like a doctor, lawyer or architect, you fall under the presumptive scheme u/s 44ADA, and need to pay advance tax.

Dates for Payment of Advance Tax

Being aware of the due dates is essential to steer clear of late payment penalties and other consequences. Refer to the following table for the due dates for FY 2024-25:

Due DateAdvance Tax Payment Percentage
On or before 15th June15% of advance tax
On or before 15th September45% of advance tax (-) advance tax already paid
On or before 15th December75% of advance tax (-) advance tax already paid
On or before 15th March100% of advance tax (-) advance tax already paid
On or before 15th March100% of advance tax (Presumptive Taxation Scheme u/s 44AD and 44ADA – business and professional income)

Also Read: What Is Self-Assessment Tax?

Calculation of Advance Tax

If you are wondering how advance tax is calculated, follow these simple steps to compute the tax outgo:

  • Step 1: Start by calculating your annual earnings for the year, with sources such as:
    • Capital gains 
    • Interest income 
    • Rental income 
    • Professional income 
  • Step 2: Calculate your gross taxable income for the year by adding your salary 
  • Step 3: From the gross receipts, reduce various deductions that apply based on the regime you choose
  • Step 4: Determine the amount of tax payable based on the current applicable income tax rates
  • Step 5: Subtract any Tax Deducted at Source (TDS) already deducted or expected to be deducted based on the applicable tax rates
  • Step 6: If your tax liability after deducting TDS exceeds ₹10,000, it will be your advance tax amount and you must follow the guidelines to pay it

Also Read: Calculation Of Tax

Process to Pay Advance Tax Online

Follow these simple steps to make the payment after advance tax computation:

  • Step 1: Go to the e-filing portal of the Income Tax Department
  • Step 2: Navigate to the ‘Quick Links’ section and click on ‘e-Pay Tax’
  • Step 3: Provide your PAN, re-enter for verification, enter your contact number, and click ‘Continue’
  • Step 4: Type in the 6-digit OTP received on your number and click on ‘Continue’
  • Step 5: Select the ‘Income Tax’ box and click on ‘Proceed’
  • Step 6: Choose the ‘Assessment Year’ as 2025-26 and then select ‘Type of Payment’ as ‘Advance Tax (100)’ and click on ‘Continue’
  • Step 7: Enter all your tax details
  • Step 8: Choose the payment mode and the bank and click ‘Continue’
  • Step 9: Check the challan details and click on ‘Pay Now’
  • Step 10: You will get an acknowledgement on the screen after the payment

Also Read: Taxable Income Slabs for FY 2024-25

Late Payment Interest on Advance Tax

Here is the interest calculation on advance tax in case of delayed or no payments:

  • Non-payment Attracts Interest Under 234B

As per Section 234B, you need to pay a minimum of 90% of the total tax obligation as advance tax or TDS/TCS by 31st March. If you fail to pay the tax, an interest of 1% will apply on the unpaid amount.

  • Delayed Payment Attracts Interest Under 234C
ParticularsRate of InterestPeriod of InterestAmount on which interest is calculated
If Advance Tax paid by 15th June is less than 15%1% per month3 months15% of Amount* (-) tax paid before June 15
If Advance Tax paid by 15th September is less than 45% 1% per month3 months45% of Amount* (-) tax paid before September 15
If Advance Tax paid by 15th December is less than 75% 1% per month3 months75% of Amount* (-) tax paid before December 15
If Advance Tax paid by 15th March is less than 100%1% per month1 month100% of Amount* (-) tax paid before March 15

With this information in hand, you can easily pay your taxes on time and avoid the penalties associated with late payments. In case you need financial assistance for any planned or unforeseen expenses, consider getting an Instant Cashl Loan from Fibe. Get the required funding at pocket-friendly interest rates and minimal formalities. 

Install the Instant Loan App to get up to ₹5 lakhs instantly, or apply via the website without any hassles.

FAQs on Advance Tax

How is interest calculated on advance tax?

The interest rate of advance tax is applicable at 1% per month in case of delayed or no payments. The amount on which interest is calculated depends on the dues.

What is meant by advance tax?

It is when you clear your tax liabilities during the year in which you incur it. You pay it only if your estimated tax is more than ₹10,000. 

How to calculate 234B and 234C interest?

The interest rate for both is 1% per month but 234B is applicable when you don’t pay the advance tax even after the financial year ends. 234C is applicable when you don’t pay the advance tax on time during the financial year. 

What is the advance tax calculation period?

The advance tax computation period is the financial year for which you will file the return.

How to Finance a Mobile Phone in India

Looking for the most popular phone in India? With new models dropping every other week, it can get confusing. Some come packed with features, others offer great value for the price. But at the end of the day, it’s not just about specs, it’s about finding the one that fits your needs and your budget.

That’s where financing options come in. Whether it’s a shopping loan, a personal loan or an EMI plan, you can now buy the most selling phone in India. The best part? You don’t have to pay for it all at once. So, read on to explore the top-selling phones and the simplest ways to finance them.

Most Selling Phone in India

The most selling phone in India isn’t just about the brand name or design. It’s about value, features and performance at the right price. With the rise of 5G and better chipsets, budget and mid-range phones are leading the sales charts. 

Here are some of the current best sellers:

  • Vivo Y28s 5G: Popular for its price tag of ₹13,999, it offers 5G, a 90Hz LCD screen and strong battery life.
  • Xiaomi 14 Civi: A ₹42,999 powerhouse with a Leica 50MP camera, AMOLED display and Snapdragon 8s Gen 3 for performance.
  • Samsung Galaxy M35 5G: Known for its 6,000mAh battery, AMOLED screen and 7 years of software updates.
  • iQOO Z9x 5G: A budget gamer’s choice with a Snapdragon 6 Gen 1 and massive battery backup.
  • Poco F7 Ultra: High-speed flagship at ₹29,999 with a Snapdragon 8 Gen 3 and 90W fast charging.

Each of these phones is trending and offers strong performance for students, professionals and gamers.

What Does It Mean to Finance a Mobile Phone?

Financing a mobile phone means you don’t have to clear the entire amount at once. Instead, you break the total cost into smaller, easier monthly payments. This can be done through EMIs, shopping loans or other credit options. It makes buying your dream phone much easier on the pocket.

Top Ways to Finance a Mobile Phone in India

Instead of paying the full amount upfront, you can break down the cost with these financing options:

  • Credit Card EMI: Most major banks offer no-cost or low-cost EMI plans for phones bought online or in-store.
  • Shopping Loan: Quick approval loans from finance platforms let you buy your favourite phone and repay monthly.
  • Buy Now, Pay Later (BNPL): Split your phone bill into smaller payments without immediate interest.
  • Personal Loan: For higher-end models or bundled purchases, a short-term personal loan gives you more flexibility.

Each option comes with its own terms. Choose one that works best for your repayment comfort and credit profile.

Why Financing a Mobile Phone Makes Sense?

Financing helps you get the phone you want without waiting. You can keep your savings intact and still upgrade when needed. It also gives you the freedom to pick better models without stressing about full payment.

Steps to Get a Mobile Phone on Finance

Step 1: Choose your preferred phone and check its price

Step 2: Look for a financing option that suits you

Step 3: Submit basic documents like ID and address proof

Step 4: Once approved, the loan or EMI plan gets activated

Step 5: Pay monthly instalments as per your chosen tenure

It’s that easy. And with plenty of lending options out there, choosing one with a hassle-free process can make all the difference. That’s where Fibe comes in. With Fibe’s Instant Cash Loan, you can borrow up to ₹5 lakhs with tenures ranging from 6 to 36 months. The amount gets credited directly to your bank account in just 2 minutes! No long waits. No repeated paperwork. Download the Fibe App now to buy your dream phone without the wait! 

FAQs on Best Selling Phones in India

Which phone is the most selling in India?

The highest-selling smartphones in India are Vivo phones, with 20% of the market share.

How to Check EPFO Pension Status? Know the easy steps

Tracking your EPFO pension status gives you peace of mind as it allows you to know your savings for retirement. Provided by the Employees’ Provident Fund Organisation (EPFO), this pension scheme was launched in 1995 by the Government of India.

Since then, it has provided Indians with financial security post-retirement, which makes it a popular option. It is important to keep track of your total accumulated pension to maintain your lifestyle during your golden years.  

Read on to learn the steps to check your employee’s provident fund pension status online using a PPO number.

How to Check Pension Status?

Thanks to the digital process, checking EPFO pension status is quick and easy through the EPFO website. The online option eliminates the need to go to any government office. This is especially beneficial for a retired individual. To check your status online, you need the following details: 

  • PF number
  • PPO number 
  • Office ID 
  • Bank account details 

Once you have these details, checking the pension amount in your EPFO account is easy. Just follow the steps outlined below:

  • Step 1: Visit the official EPFO Portal
  • Step 2: Click on the ‘Pensioner’s Portal’ button under the ‘Online Services’ section
  • Step 3: Click on the ‘Know your Pension Status’ option from the menu on the right side
  • Step 4: Select ‘Issued Office’ from the drop-down menu
  • Step 5: Check the ‘Office ID’ and enter your PPO number
  • Step 6: Enter your (pensioner’s) birth date and the captcha
  • Step 7: Click on ‘Submit’ and check the status

Also Read: Provident Fund Transfer Online

What is a PPO Number?

Whether it is to check your employee’s provident fund pension status or filing for grievances, this 12-digit number is crucial. Here is what it signifies:

  • The first 5 digits are the code number of the PPO issuing authority
  • The following 2 digits are the year it was issued
  • The next 4 digits are your PPO’s sequential number
  • The last digit is for a digital check 

Steps to Find Pension Payment Order (PPO) Number

If you don’t have your PPO number, you cannot know your EPS 95 pension status through the EPD portal. However, there is an option to get your PPO number using your bank account number or member ID. Follow these steps for the same:

  • Step 1: Go to the EPFO’s official website 
  • Step 2: Select the ‘Pensioner’s Portal’ option from the ‘Online Services’ menu
  • Step 3: Click on ‘Knows your PPO No.’ from the right-hand menu
  • Step 4: Select from ‘Bank Acc.No. Search’ or ‘Mem. ID Search’ option 
  • Step 5: Enter the account number or ID details in the given dialogue box
  • Step 6: Submit the details to get the number

After that, you can check your PPO pension status with the above steps. 

With such easy access, you can enjoy a secure financial future and plan for a comfortable retirement. However, if you are looking for a quick option to meet your current urgent financial requirement, you can get an Instant Cash Loan from Fibe. 

You can get up to ₹5 lakhs with no end-use restriction. We make borrowing convenient with easy-to-meet eligibility criteria and nominal paperwork. You can comfortably repay with flexible tenure options of up to 36 months and competitive interest rates.

This way, you can easily, quickly, and affordably meet your planned or unplanned needs. You can also opt for foreclosure without any additional charges anytime you have funds available. To get started, download our Personal Loan App or visit our website and apply! 

FAQs on How to Check Pension Status

How do I check my monthly pension status?

Pension holders under the Employees’ Pension Scheme of 1995 can get any information regarding it on the official EPFO website.

How to check pension status by Aadhaar number?

It is not possible to directly check your pension status using an Aadhaar card. However, you can use your Aadhaar number to get your PPO number through DigiLocker. Ensure that your accounts are linked to access them through DigiLocker. Once you have the PPO number, you can check the status of your pension. 

How to check EPFO pension balance?

To check your pension balance online, follow these easy steps:

  • Go to the official EPFO portal
  • Navigate to the ‘Online Services’ section 
  • Go to the ‘Pensioner’s Portal’ 
  • Choose ‘Know Your Pension Status’ 
  • Select the ‘Issued ID’, and enter your PPO number and birth date
  • Enter the captcha and submit it 

How to check AP pension status?

Residents of Andhra Pradesh can check their pension status by selecting the issued office from the drop-down menu on Pensioners’ Portal. After entering the PPO number, birth date and captcha and submitting it, you will get your pension status. 

How to Download Masked Aadhaar in 2026?

A masked Aadhaar card is an alternative version of your regular Aadhaar card, which provides better security and privacy. Since an Aadhaar card is an important document linked to your identity verification, keeping it secure is crucial. 

Whether verifying your identity or for the KYC process, several institutions will ask for your Aadhaar card. Since all your crucial information is printed on it, the risks of misuse are high. If it reaches the wrong hands, the breach of data can lead to financial loss and more.

Read on to know how to get a masked Aadhaar card and keep your details secure.

What is Masked Aadhaar?

This document ensures that your entire UIDAI number is not disclosed to anyone. While a regular Aadhaar has all the 12 digits printed on it, the masked option only has the last 4 digits.

For example, if your Aadhaar number is 5796-8436-9421, then the masked Aadhaar card sample will show xxxx-xxxx-9421. This makes it easy to verify your identity without giving away the complete information. 

Also Read: How to apply for a new Aadhaar card

Difference Between Regular and Masked Aadhaar

Here are some of the key features of a masked vs a regular Aadhaar card. 

Regular Aadhaar CardMasked Aadhaar Card
All 12 digits are visible ‘xxxx-xxxx’ replaces the first 8 digits and only 4 digits are visible
All your details are accessible to anyone with a copy of your Aadhaar card, making it easy for unauthorised usage People with a copy of your Aadhaar card can’t use your details 
Higher risk of security breach and identity theft Lower risk of information misuse
Easy access via the UIDAI Can generate it without any charges on the UIDAI website 
Acceptable everywhere for identity verification Acceptable at non-governmental establishments that ask for verification, such as hotels, clubs, public libraries, etc. 

Also Read: Benefits of an Aadhaar card

Steps to Download a Masked Aadhaar Card

Here is a step-by-step guide to download this document online:

  • Step 1: Visit the official UIDAI website
  • Step 2: Select a preferred language
  • Step 3: Click the ‘Download Aadhaar’ under the ‘Get Aadhaar’ section 
  • Step 4: Click on the ‘Aadhaar Number’ button 
  • Step 5: Enter the 12-digit Aadhaar number and captcha code visible on the screen 
  • Step 6: Click on the ‘Send OTP’ option 
  • Step 7: Enter the OTP received on the mobile number registered with your Aadhaar
  • Step 8: Check the dialogue box ‘Do you want to download masked Aadhaar?’
  • Step 9: Click on ‘Download’ 

After that, a password-protected PDF file will be available on your device. The password for masked Aadhaar is the first four letters of your name in uppercase, followed by your birth year. For example, if your name is Rahul and you were born in 1980, your password will be RAHU1980.

Why Opt for a Masked Aadhaar Card?

If unauthorised individuals get hold of your Aadhaar number and other information, they can use it to impersonate you. It’s connected to your PAN card, allowing them to finalise the KYC procedure. In this manner, they could utilise it for unauthorised financial transactions.

This includes asking for a loan or credit card or opening a bank account. Since linking your Aadhaar card to your bank account is mandatory, fraudsters could potentially gain unauthorised entry to your bank accounts too. Therefore, it is recommended to use a masked Aadhaar card, wherever possible, and reduce the risk of being exposed.

Knowing all these benefits, you can easily use a UIDAI masked Aadhaar card when applying for any credit card or loan or any other purpose. Another way you can protect your identity and personal information from being misused is to apply for such financial products online. 

With the Fibe Instant Cash Loan, you can effortlessly apply to get funds for any planned or emergency funds requirement. Our ISO/IEC 27001 Certification and PCI DSS App-based journey make loan applications secure. 

We offer up to ₹5 lakhs loan, best for your eligibility, with a comfortable repayment tenure and affordable interest rate. Enjoy a customised loan offer with minimum documentation and a paperless process. Download the Fibe Personal Loan App from the Google Play Store or App Store or go to our website to apply now!

FAQs on Masked Aadhaar Card

What is the use of a masked Aadhaar card?

Its main purpose is to prevent misuse of your Aadhaar number to fake your identity. 

Where can I get a masked Aadhaar?

You can download your UIDAI masked Aadhaar from the Unique Identification Authority of India’s official website. 

Is Masked Aadhaar valid in hotels?

Yes! In fact, it is designed to protect you in unlicensed locations that ask for identity verification. This includes hotels, motels, pubs, bars, cinema halls,  etc.

Is masked Aadhaar valid?

Since you can generate it only from the official UIDAI website, it is valid for use in place of your regular card.

E Aadhaar Password Format
What is Aadhaar Pvc CardHow to Link Mobile Number to Aadhar Card
How to Link Aadhar to Ration CardAadhaar Card Benefits
How to Apply for Aadhar Card OnlineHow to Link Aadhaar Card with Pan Card
How to Link Aadhar with Bank AccountCheck Aadhaar Card Status Online

CASA in Banking – Full Form, Features, and Benefits Explained

Ever wondered how banks manage your deposits while giving you the convenience of seamless transactions? That’s where CASA (Current Account Savings Account) comes in! It’s a smart mix of savings and current account benefits, offering easy access to your money while earning interest. Whether you’re an individual or a business, a CASA account helps you manage funds effortlessly. But how does it work, and why is it so important?  

Read more to know about the CASA meaning, its key features and the benefits that make it a must-have banking option. 

What is Casa in Banking? 

CASA full form in banking is Current Account Savings Account. It is a type of bank account that some financial institutions offer. As the name suggests, it provides the combined facilities of a current account as well as a savings account. These types of accounts offer an excellent way to increase your savings and build a sizeable corpus for the future.  

How CASA Works?  

As mentioned above, you can use this account just like you use a regular current or savings account. Here are some essential points: 

  • A CASA differs from term deposits, as it lets you carry out everyday banking transactions and provides an option to save funds.  
  • Unlike term deposits with a fixed maturity date, a CASA does not expire.  
  • You can keep the account active as long as you wish to keep it open.  
  • This account offers flexibility in terms of withdrawals and deposits, allowing you to manage your finances conveniently without restrictions.  
  • These accounts typically offer lower interest rates than term deposits.  

Also Read: What is a current account in a bank?  

CASA Ratio and Its Calculation 

The Current Account Savings Account ratio, or CASA ratio, is a critical indicator of a bank’s financial health. Here are some key points to know: 

  • It reflects the bank’s liquidity and its ability to manage its cash reserves in an effective way.  
  • This ratio is the proportion of the current and savings account deposits of a bank to the total deposits it holds.  
  • A higher CASA ratio shows that a bank has a significant proportion of stable deposits that they can use for the purpose of lending and investing.  
  • A higher ratio also shows that the cost of funds is on the lower side, which can help enhance earnings.  
  • The formula for the CASA ratio is CASA Deposits that a bank holds /Total deposits that the bank holds.  

Also Read: What is an IFSC Code.  

Benefits of CASA 

You must be wondering why CASA is important for banks and how they benefit customers of the bank. Here are the benefits these accounts offer: 

For Banks: 

  • Cost-Effective Source of Funds 

By offering these accounts, banks benefit from a cheaper way to raise funds as compared to issuing term deposits. This is cheaper for them as the interest they provide on CASA is lower than the rates they offer on term deposits. This enhances the bank’s net interest income (NII).  

  • Customer Relationships 

Providing the facility of opening CASA also helps banks strengthen their relationship with customers over the long term. It helps boost loyalty and trust, leading to more business opportunities as well as mutual benefits.  

  • Metric to Assess Financial Health 

The Current Account Savings Account ratio serves as a critical indicator of the overall financial health of the bank. A bank with a higher CASA ratio reflects that it holds a high proportion of stable deposits. They can utilise these deposits for investing and lending purposes.  

Also Read: Difference Between Salary Account Vs Savings Account 

For Customers: 

  • Offers Convenient Banking Experience 

CASA offers you the benefits of both current and saving accounts. This way, you enjoy a flexible and easy way to manage your banking requirements and carry out transactions on your own terms.  

  • Provides Interest on Your Deposits 

You earn interest on the deposits you make into this account. This way, you can enhance your savings to meet your future financial goals while carrying out other banking activities.  

With this information, you can decide if opening this account is suitable for you. In case you need funds to manage any unforeseen or planned expenses, consider getting a Instant Cash Loan from Fibe. You can get financing of up to ₹5 lakhs with a flexible repayment tenure of 36 months.  

After applying, you benefit from quick processing and fund disbursal. Install the Fibe Personal Loan App and get the required funds instantly without any hassles.  

FAQs on CASA Accounts  

What is the work of CASA in banks? 

Here is how CASA is beneficial for banks: 

  • CASA offers a low-cost source of funds for banks.  
  • These accounts provide banks with a stable source of liquidity. 
  • Banks can foster long-term relationships with customers via these accounts.  
  • The CASA ratio reflects the bank’s ability to manage its funding costs.  

What is a CASA transaction?  

A CASA transaction refers to any banking activity that you carry out using your account, such as: 

  • Deposits to the account 
  • Withdrawals from the account 

What is CASA used for? 

You can use a CASA account just like you would use a normal savings or current account. You can make deposits, carry out withdrawals, etc. 

Check Mobile Finance Offers for Indian Smartphone Brands

Many people look for value, performance, and trust when buying a smartphone. That’s exactly what an Indian phone company offers. Even before the ‘Make in India’ initiative, Indian smartphone brands were making affordable, feature-rich phones. 

Today, the Indian mobile market is bigger than ever, with options for every budget. Read on to explore the top 10 Indian mobile brands, their unique features, and the latest finance options for Indian mobile brands to make your next smartphone purchase more affordable. 

Understanding Smartphone Financing 

Smartphone financing simply means buying your phone without paying the entire amount upfront. Instead, you split the total cost into smaller, easy-to-manage payments. 

Here are the most common ways people finance their phones today: 

  • EMIs (Equated Monthly Instalments): Convert your purchase amount into monthly instalments through your debit or credit card. 
  • BNPL (Buy Now Pay Later): Pay a small portion now and the rest later. Many fintech apps offer BNPL for smartphone purchases. 
  • Personal Loans: Get quick, unsecured personal loans from finance apps or banks to buy a phone of your choice. 

These smartphone financing India options help you get your dream phone without financial stress. You can easily do a mobile finance check online to explore what works best for you. 

List of Best Indian Mobile Companies 

Here’s a list of top Indian smartphone brands that produce and retail phones within India: 

  1. Celkon Mobiles 

Started in 2009 in Telangana, Celkon was one of the first mobile makers in South India. They offer smartphones starting from ₹5,999 and also deal in tablets, laptops, smart TVs and more. 

Options for consumers to purchase smartphones on EMI 

  • Available through leading e-commerce websites like Amazon and Flipkart 
  • Mobile finance check online options on major fintech apps to get pre-qualified offers 
  • Tie-ups with local retailers for easy mobile finance check and instant approvals 
  1. i-Ball 

Launched in 2001, i-Ball has over 100 million users. Known for mobiles, tech accessories and PC products, they have 1 lakh+ active retailers across India. 

  1. Intex Technologies 

Intex was founded in 1996. It is one of India’s largest electronics manufacturers offering affordable phones like Aqua Note and Indie 5, most priced under ₹10,000. 

Financing facilities for budget-friendly models 

  • Partnerships with NBFCs and digital lenders offering finance deals on Indian smartphones 
  • EMI options via debit/credit cards and consumer loan platforms 
  • Customers can perform a mobile finance check online before applying 
  1. Karbonn Mobile 

Operating since 2009, Karbonn focuses on making smartphones more accessible. Models include K9 Smart Plus, Aura Power 4G and Titanium S9 Plus. 

Availability of no-cost EMI and other financing plans 

  • No-cost EMI options available on major online marketplaces 
  • Indian mobile brands finance plans through banking partners and fintech platforms 
  • Zero down payment schemes on select models 
  1. LAVA International Ltd. 

A popular Indian mobile company with global reach, LAVA works with over 1.65 lakh retailers and 800+ service centres. Top models include LAVA Blaze 5G, Agni 2 and YUVA. 

Financing options available for Lava smartphones 

  • EMI and credit card finance options available online and in stores. 
  • Mobile finance check online through lender platforms. 

Partnership with financial institutions or platforms 

  • Collaborations with Fibe, Bajaj Finserv, and Home Credit for Indian mobile brand financing options 2025. 
  • Tie-ups with digital lenders for instant approvals and low interest rates. 
  1. LYF – Reliance Retail 

A Reliance-owned brand offering affordable 4G and 5G smartphones. Popular models include LYF Water 7S and Earth 2. 

  1. Micromax Informatics 

A well-known Indian phone company offering smartphones, earbuds and LED TVs, focusing on budget-friendly options. 

EMI schemes and collaborations with banks or fintech companies 

  • Easy EMIs available on most Micromax phones 
  • Finance deals on Indian smartphones through apps like Fibe and Bajaj Finserv 
  • Tie-ups with major banks for instant mobile finance check and quick disbursals 
  1. Spice Telecom 

Known for the Spice Stellar series, offering affordable smartphones with good customer service. 

  1. Xolo Phones 

A sub-brand of LAVA, Xolo started in 2012 and introduced India’s first 4G smartphone. Now offering newer 5G-enabled models. 

10. YU Televentures 

A joint venture between Micromax and Cyngn, known for Yu Yureka Plus, Yu Ace and more — available online in multiple price ranges. 

Popular Financing Platforms for Indian Smartphones 

Let’s look at some of the best Indian mobile brand financing options 2025 that make owning a new phone easier than ever. 

  1. Fibe 

Overview of Fibe’s instant personal loan offerings for smartphone purchases 

  • Quick approval and disbursal for smartphone loans 
  • Simple eligibility check and paperless process 
  • Ideal for customers who want to buy any Indian mobile brand 

Benefits of using Fibe for financing Indian mobile brands 

  • 3% cashback on food, entertainment and commute 
  • Rewards on shopping, travel and utility spends 
  • Option to perform mobile finance check online before applying 
  1. Bajaj Finserv 

EMI Network Card and its applicability for purchasing smartphones 

  • Wide acceptance across top mobile stores and e-commerce platforms 
  • No-cost EMI and zero down payment options 
  • Finance options for Indian mobile brands including LAVA, Micromax and Karbon 
  1. Home Credit India 

Instant loan approvals and flexible repayment options 

  • Fast approval with minimal documentation 
  • Repayment tenures from 6 to 24 months 
  • Ideal for customers exploring mobile finance check online before buying 
  1. ZestMoney 

No-cost EMI and zero down payment schemes for mobile phones 

  • Allows you to buy phones now and pay later, interest-free 
  • Works with leading e-commerce and retail outlets 
  • Indian mobile brands finance plans available for all credit profiles 

How to Choose the Right Financing Option? 

When exploring finance options for Indian mobile brands, keep these points in mind: 

  • Compare interest rates and processing fees 
  • Check your eligibility through a mobile finance check online 
  • Consider repayment flexibility and tenure options 
  • Choose platforms offering instant approval and minimal documentation 

Benefits of Financing Your Smartphone Purchase 

Opting for smartphone financing comes with several benefits: 

  • Affordability: Spread your payment over months 
  • Accessibility: Get pre-approved offers using a quick mobile finance check 
  • Freedom of choice: Buy from any Indian mobile company without budget worries 

FAQs on Indian Mobile Brands 

Which is the No. 1 mobile phone company in India? 

Currently, Vivo is India’s most popular smartphone brand. 

Which is the largest-selling mobile brand in India? 

Vivo leads as the best-selling mobile brand in India. 

Which phone is most used in India? 

Nearly 20% of Indians use Vivo smartphones. 

Which mobile is trending now? 

Some trending smartphones in India include: 
OnePlus Nord 2T 5G, Vivo X Fold 3 Pro, Nothing Phone 1, POCO F4 5G, Vivo V25 Pro 5G, Xiaomi Redmi K50i, Realme 12 Pro+ 5G, Oppo Find X7 Ultra, Samsung Galaxy F13, and Samsung Galaxy Z Flip 4 5G. 

What is the Meaning of Deferment? Important aspects and benefits

Do you know the meaning of deferment? In banking, it is a type of agreement that allows you to delay the payment to avoid immediate financial strain. Many loans and investment options work on this principle to help you manage cash flow. 

Read on to better understand the meaning of deferred payment and why it is a great option for borrowers. 

What is a Deferred Payment?

The term deferment refers to the period during which the financial institution allows you to pause your payments for a specific period. This period varies from a few months to a year, depending on the agreement between both parties. 

Remember, the loan continues to incur interest as usual. This option is ideal when you need immediate funds but cannot start the repayment immediately. You can also ask for a deferral once you start the repayment but it depends on your lender.

When Can You Choose Deferred Payment

Here’s how deferment applies to different types of loans and investment options.

Car Loan 

Some car loan lenders allow you to opt for deferment to delay the initial payments. This is beneficial if you want time to arrange funds for the first instalment.

Home Loans 

During any financial hardships, such as job loss or illness, you can postpone monthly mortgage payments for a specific period. Since home loans can add a financial burden to your budget, this option gives you temporary relief.

Insurance 

When buying an insurance pension plan, you don’t receive payment until after a while. Since the payment happens at a future date, the deferral principle applies. 

Student Loans

When applying for a student loan, you don’t have to pay the EMIs until after you’ve graduated or until you get a job. This option allows you to repay the loan without relying on your parents or guardians for financial security. 

Benefits of Deferred Payment

Here are some advantages of deferment that you should know about. 

  • It gives you sufficient time to arrange funds to ensure that you don’t miss any payments in future 
  • It lowers the stress of repayment, especially during financially challenging times
  • It helps you protect your credit score, as insufficient funds increase the chances of default 
  • It allows you to buy products such as a car or a home, even if you don’t currently hold the repayment capacity 
  • It allows you to avoid selling any valuable assets to get access to funds
  • It does not have any negative impact on your credit score as lenders have agreed upon such an arrangement

While the pros are many, here are some limitations that you should also know about:

  • The interest continues to add to your principal amount during this period 
  • The higher principal amount and added interest can increase your tenure 
  • The eligibility criteria are very strict to opt for a deferred period
  • Missing any payment in the future will damage your credit score

Knowing all its perks and drawbacks, you can opt for a loan that provides you with flexible lending terms that fit your budget. Fibe Instant Cash Loan is one such option that aims to make borrowing comfortable. 

We offer instant loans of up to ₹5 lakhs with affordable interest rates. You can easily repay the loan with up to 36 months of tenure, with the option to foreclose the loan without penalties or additional charges.

In addition, enjoy a streamlined digital application process with minimum documentation, rapid approval, and quick disbursement. Download our Personal Loan App from the Google Play Store or App Store, or visit our website to get started on your application! 

FAQs on Deferred Payment

What is the meaning of EMI deferment?

It is a period between the loan approval and the first EMI date pre-approved by the lender. You don’t have to pay any EMI during this period, but the loan amount continues to attract interest. This leads to an increase in the tenure and outstanding balance. You can also request a deferral after you begin the repayment.

Is loan deferment good?

Yes, if you are looking for a short-term solution to get your finances in order before making the loan repayment. However, it is important to consider that the loan will attract interest during this period. So, you need to ensure that the future payments will not strain your finances. 

Can I pay my loans while in deferment?

No, you’re not allowed to make payments during this specified period. 

Is deferment bad for credit?

It does not directly impact your credit score. However, if you miss your EMI after the repayment starts it can hurt your creditworthiness.

What is Grace Period for Credit Card Payment?

If you’re new to credit cards, you’ve probably heard the term credit card grace period but might not know exactly how it benefits you. In simple terms, the grace period is the interest-free window between the end of your billing cycle and your payment due date — it lets you repay your credit card bill without paying any extra charges. This feature is what makes credit cards such a flexible tool for managing your expenses smartly.  

Let’s understand here what a credit card grace period is, how it works and how you can use it to your advantage. 

What is a Credit Card Grace Period?  

The grace period is the gap between the credit statement date and the due date to pay the bill. During this time, issuers don’t charge any interest on your purchase amount. This applies to only online and offline transactions, not cash withdrawals.  

Most banks offer a minimum of 21-day period of interest-free days, but you can get up to a 45-day grace period for credit cards. Say your credit card company generates the statement on 10th July and your due date is 20th August. Then, you get 41 days as a grace period.  

Note that this applies only if you pay the total due amount. If you pay only the minimum due, the outstanding balance will attract interest. Remember, the grace term doesn’t apply to the carry-over balance from the period cycle.  

Perks of a Credit Card Grace period 

Here are some of the reasons why a grace period on a credit card is important: 

  • It allows you to enjoy interest-free purchase.  
  • You get access to instant funds without needing to repay extra.  
  • You can earn cashback and reward points, which you can redeem for any future spends. 
  • It allows you to manage your monthly budget better without adding to your financial burden.  

Who is Eligible for a Grace Period?  

Here are the eligibility criteria if you want to enjoy a grace period on your credit card: 

  • You have to pay the entire billing amount on time.  
  • You have no outstanding balance from your previous bill.  
  • You don’t have a history of defaults or late payments.  
  • You have no pending dues or unpaid EMIs on the credit card.  

If you don’t meet the criteria, you can improve your chances of getting this privilege in one step. Clearing any unpaid or outstanding dues will make you eligible again.  

Also Read: Tips to Get Quick Credit Card Approval 

What Happens If You Miss the Grace Period?  

The consequences of missing the interest-free period depend on whether you’ve made a partial payment.  

  • Missed full payment? You’ll pay a late fee and interest on the unpaid amount. 
  • Paid only the minimum? No late fees, but interest applies to the balance. 
  • In both cases, you lose the credit card grace period, pay more interest, and risk hurting your credit score.  

Knowing the meaning of grace period and how it works allows you to better plan your finances and ensure you don’t miss the due date. However, there are other aspects to take into consideration apart from the interest-free period when you’re choosing a credit card.  

This includes fees, charges, rewards, discounts and cashback. If you want to enjoy one such card offering all these benefits and more, opt for the Fibe Axis Bank Credit Card. This is a one-of-a-kind card designed to streamline all your credit card payments with the highest security. 

It is India’s first numberless credit card, which also has zero annual and joining fees. It offers flat cashback of up to 3% on all offline and online purchases. Since it’s a RuPay card, you can link with a UPI app and make seamless payments.  

Download the Fibe App from the Google Play Store or App Store to explore all its benefits and apply!  

FAQs on Grace Period in Credit Card 

How does a credit card grace period work?  

This is the duration between the date of your credit card statement generation and the bill payment date. You are not liable to pay any interest if you pay your complete bill during this period. Most issuers provide at least a 21-day grace period for credit cards.  

What is the grace period after the due date of the credit card?  

According to the RBI guidelines, you get a 3-day grace period for credit card payments past the due date. In case you missed the due date but pay the bill within three days, it will not incur any late payment penalty or extra charges.  

Does the grace period affect your credit score?  

Since payment within the grace period on a credit card counts as a timely payment, it can help you boost your credit score easily. 

An Informative Guide on Electric Vehicle Loan

Electric vehicles (EVs) are getting quite popular nowadays. If you’re planning to switch to this type of vehicle, you can get an electric vehicle loan easily. Many financial institutions including leading banks and Non-Banking Financial Institutions (NBFCs) provide financing for this type of vehicle.

By getting vehicles that run on electricity instead of traditional fuel, you can do your part for the environment and save significantly on fuel costs. You also become eligible for special tax benefits u/s 80EEB of the Income Tax Act.

Read on to learn more about how to get an EV loan, its eligibility, paperwork and more.

What is an Electric Vehicle and How They Work?

An EV is a type of automobile that runs on electric motors, with electricity stored in batteries or fuel cells. Here is how it works:

  • EVs function by converting electrical energy into mechanical energy for propulsion.
  • Key components of an EV include the electric motor, power control unit, battery pack and charging system.
  • The electric motor gets power from the battery pack and converts it into energy to drive the wheels.
  • The battery pack is reloaded through charging at stations or via regenerative braking.

How to Get an Electric Vehicle Loan?

To get financing for your EV, follow these steps:

  • Step 1: Choose a suitable EV from your car or two-wheeler dealership
  • Step 2: Explore and compare the loan terms that various lenders offer
  • Step 3: Choose a lender that offers the best deal and check the eligibility, paperwork and application process
  • Step 4: Fill out the application form, submit the required documents and complete other formalities
  • Step 5: After approval, the lender will disburse the amount

Also Read: How to get a Two Wheeler Loan?

Eligibility Criteria for Electric Vehicle Financing

To apply for the loan, you need to meet the loan eligibility requirements. While it varies with lenders, here are the general criteria:

  • You must be an Indian resident
  • You must be above the age of 21 years
  • You should have a credit score of 750 or above
  • You must have a work experience of at least 12 months
  • If you are self-employed, you must be operating a business for a minimum of 24 months

Paperwork Requirements for Electric Vehicle Financing

You also need to submit some paperwork for verification, such as:

  • Proof of Identity: Passport, PAN card, voter ID card, driving licence, etc.
  • Address Proof: Passport, ration card, driving licence, voters ID card, utility bills, etc.
  • Proof of Income and Employment: Salary pay slips and bank statements for the last 3 months, Form 16, ITR documents for the last 2 years

Benefits of Electric Vehicles

With an EV, you enjoy a plethora of perks including benefiting the environment. Here are some other advantages:

  • Electric vehicles have lower running costs leading to savings on fuel expenses 
  • You enjoy special tax benefits under Section 80EEB of the Income Tax Act
  • Maintenance costs for electric vehicles are lower than petrol or diesel vehicles since there are fewer moving parts
  • Modern EVs can offer better performance than traditional vehicles that run on fuel
  • EVs are easy to drive, quiet and have simplified controls, making them convenient 
  • They produce zero emissions, significantly reducing your carbon footprint
  • You can charge an EV at home without the need to visit petrol stations

Also Read- 3 Loans that Give you Tax Benefit

To finance your EV purchase, you can also consider getting an  Instant Cash Loan from Fibe of up to ₹5 lakhs. You can use it to pay the down payment or the entire cost without any hassles since these loans come with no restriction on end use. 

You also repay the dues comfortably over a tenure of 36 months. With quick processing and fund disbursal to your account, you can get the vehicle without any delay. Install the Fibe Personal Loan App or register on the website to get the funding with an easy application process and minimal documentation.

FAQs on EV Loan

How to invest in EV vehicles?

You can get an electronic vehicle or EV from any car or two-wheeler dealership. To finance the purchase, you can get a personal loan or a loan that is specially tailored for EVs.

What is EMI in electric vehicles?

Electromagnetic interference, or EMI in EVs, is any disturbance that transfers to the target from the source through a conducting path. A conducting path can be:

  • Cables
  • Wires
  • Traces
  • DC power bus
  • AC power bus

How do I register for EV?

To register for an electric vehicle, you need to visit a two-wheeler or car dealerships that offer EVs. Then, you need to get a loan, if required and complete the formalities.

A Useful Guide on Loan for Solar Panel Installation

You can easily get a loan for solar panel installation and generate electricity. With rising inflation, these substantial electricity bills can be quite difficult to handle. Because of this, you may have to compromise on your electricity usage. By installing solar panels, you can avoid this as it will help reduce your bills significantly.

Read on to know how you can get solar panel loans, the paperwork requirements and more.

How to Get a Loan for Solar Panel Installation?

To get solar panel financing, you need to follow these steps:

  • Step 1: Research and explore the right type of solar panel loan and lender
  • Step 2: Choose a loan provider after considering the interest rates, repayment options and other essential factors
  • Step 3: Check the personal loan eligibility, documentation and other requirements
  • Step 4: Apply for the loan online or by visiting the branch of the lender
  • Step 5: Submit the documents requested by the lender

Paperwork Requirements to Get a Loan for Solar Panel Installation

As mentioned above, you need to submit some documents to get solar panel financing. While it varies depending on the lender you opt for, here are the general documentation requirements for loan:

  • Proof of Identity: Aadhaar card, PAN card, passport, driver’s licence or voter ID 
  • Proof of Home Ownership: Property documents and other evidence of ownership
  • Proof of Income and Employment: Bank statements, salary payslips or ITR documents

Benefits of Solar Panel Installation

Installing a solar panel in your home comes with a wide range of benefits, such as:

  • Eco-friendly Energy Resource

Solar power is gaining more popularity as everyone is doing their bit to protect the environment. It is considered a highly sustainable and eco-friendly source of energy. 

It helps reduce or delay the impact of climate change and reduces carbon footprint by replacing energy sources that are based on fossil fuels. Unlike traditional non-renewable energy resources, solar power doesn’t release pollutants.

  • Reduced Electricity Bills

With the installation of solar panels in your home or office, you use the energy generated by these panels, instead of relying on traditional power. With this energy source, you can run various appliances or fixtures, like:

  • Lights
  • Fans
  • Air Conditioners
  • Refrigerators
  • Washing machine
  • Dryers

Since your reliance on traditional power reduces, your electricity bill also reduces. This can help bring down your power bills significantly. Also, since these resources are renewable and non-exhaustible, you can rely on them for your power usage.

Also Read: Home Renovation Loan

  • Low Maintenance Expenses

After installation, solar panels demand little to no maintenance unless affected by any external or environmental factors. They have a long run without any additional actions from your side as long as you keep them clean and free of debris. 

At most, you must get them cleaned 2 times a year. Also, the chances of wear and tear with time are negligible because these panels don’t contain any moveable parts.

  • Increases the Value of Property

Installing solar panels on your property also helps boost its value. This is because these panels are considered as upgrades to the house, just like a finished basement, modular kitchen or a renovated bathroom. 

Home buyers prefer to get a house with solar panels installed in it. This is because they can use it after shifting and minimise their reliance on traditional power and, in turn, reduce their bills. 

If you want a more flexible financing option, you can consider getting an Instant Cash Loan from Fibe. You can get up to ₹5 lakhs and it comes with no restriction on end use. So, you can use it to install solar panels and meet various other needs. You also enjoy the flexibility of choosing the repayment duration as per your affordability and preference. 

Install the Fibe Personal Loan App and get your hands on the required funds instantly with a streamlined application process and minimal documentation.

FAQs on Solar Panel Installation Loan

Can I get a loan for solar panels for my house?

Yes, you can get solar power loans from various financial institutions. Research and compare the available lenders and then choose the one that offers the loan at the most nominal interest rates. 

A quick and easy alternative is getting a personal loan. You can use them to install solar panels since they don’t come with any restrictions on the end usage.

What documents are required for a solar loan?

To get solar power loans, you need to provide the following documents:

  • Proof of Identity: Aadhaar card, PAN card, passport, driver’s licence or voter ID
  • Proof of Income and Employment: Bank statements, salary payslips or ITR documents
  • Proof of Home Ownership: Property documents and other evidence of ownership

What is the interest rate for solar project loans?

Solar loan interest rates depend on the lender you choose. Research and choose a lender that offers the best deal. This helps reduce the overall borrowing cost and makes the repayment easier for you.

Are financing options available for rooftop solar?

Yes, you can get loans even for rooftop solar panels from a plethora of financial institutions.