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Month: July 2018

Line of credit vs personal loan

Line of credit vs personal loan

An increasing number of people are now borrowing money for their purchases especially the more expensive ones. When borrowing money for purchases, there are two main options – personal loan or credit. Now the question is which one to choose? How personal loans work? A personal loan is an unsecured multi-purpose loan, i.e., the borrower does not have to put your assets as collateral to avail a personal loan. They often have lower interest rates than credit cards, especially if…

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Reward Points on Credit Cards

Reward Points on Credit Cards

  The reward points on credit cards were introduced by banks to encourage customers to use their credit cards for purchases. Nowadays many credit cards come with their Reward Points Programs. This allows customers to earn points on each purchase that they make with their credit card. After accumulating a specific number of points, customers can redeem these points for vouchers, air miles, cash back on future purchases etc. Usually, higher value purchases will earn you more points than smaller…

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DigiLocker: The new digital vault

DigiLocker: The new digital vault

  One of the key initiatives by Government of India under digital India programme, DigiLocker offers a platform to electronically store the documents such as PAN, driving license, Marksheets, Degree Certificates, etc., and provides the capability to e-sign those documents. One can also use the e-sign facility for legacy documents stored in DigiLocker and provide them when needed. DigiLocker works best when registered with Aadhar number. It helps to send the digital certificates to the registered requestors (users registered with…

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Synopsis on Cryptocurrency

Synopsis on Cryptocurrency

What is Cryptocurrency? A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency. Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled. In Layman’s term, cryptocurrencies are a form of digital money which allow you to make purchases online. Unlike regular currencies, they…

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How merchants can sign up for UPI – VPA?

How merchants can sign up for UPI – VPA?

After a launch of UPI, merchants want to connect their account to UPI to avail benefits, however, there was no such system launched to provide merchants with this facility. Consumers were only using UPI to send money to each other. The demand was to improvise the system in such a manner that the UPI could be used by consumers to make payments at merchants. BHIM came with this solution which is discussed in this blog BHIM has come up with…

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Why was your credit card declined?

Why was your credit card declined?

One of the most embarrassing moments any of us can encounter is having our credit card declined.  And somehow, this always seems to occur at the most untimely moments. Like when you’re at the grocery store and a long line of customers is waiting for you, or when you’re throwing a party to your friends and the waiter comes back to the table and says that your card has been declined. While having your credit card declined is certainly uncomfortable…

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12 Credit Card Terms Simplified

12 Credit Card Terms Simplified

As a credit card holder, it may be daunting for you to understand the credit card terms. Or maybe you did not quite understand the wordings in the credit card agreement and never had the patience or the need to pursue it. In either case, this article is designed to inform and explain the meaning of some key terms, knowing which might help you understand the workings of your credit card a little better. Annual Percentage Rate (APR): This is…

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