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Tags:UPI

Feels like ages ago when we used to fill in account numbers and IFSC codes for money transfers via NEFT, but then with IMPS came the concept of MMIDs, followed by Virtual Addresses with UPI in mid 2016.

No, we cannot link two mobile numbers to a bank account. Initially, when you are required to fill up the registration form, there is an option to add two phone numbers.

To register, link or update your mobile number with your HDFC Bank account, download the mobile number updation form from the official website of the bank. Fill the given form with all the details including your new mobile number. Complete the required details along with your signature and submit it at your HDFC Bank’s home branch. It can take upto 2 working days for the new update to come into effect. This service is available free of cost for all customers.

Tags:MSME

To help MSMEs handle the economic onslaught brought by the Covid-19 pandemic, the RBI has announced one-time restructuring for MSME loans. The scheme for restructuring loans of struggling MSMEs was already in place prior to the Corona outbreak. With the pandemic accentuating the cash flow problems faced by MSMEs, the RBI has extended the deadline for restructuring until 31st March 2021.

Tags:EMI

Whether you have taken a personal loan, home loan, car loan or any other loan product from HDFC, the bank allows you to repay the remaining EMIs at one go. Repaying the remaining EMIs at one shot is a great way to go debt-free and boost your credit score. Whether you have taken a personal loan, home loan, car loan or any other loan product from HDFC, the bank allows you to repay the remaining EMIs at one go. Repaying the remaining EMIs at one shot is a great way to go debt-free and boost your credit score. Repaying all EMIs at once is known as pre closing the loan account. If you wish to pay all the pending EMIs at one go, here’s what you should do. Visit the loan officer at your nearest HDFC bank branch. Enquire the current balance in your loan account. The loan officer will also intimate you of any pre-closure charges or penalties. Pay the entire balance amount (sum of all pending EMIs + preclosure charges, if any) using a cheque or DD. The loan officer provides you with an acknowledgement of the balance amount along with the loan closing letter.

A credit card with zero balance simply means that the card has no dues that need to be paid to the bank. Paying off your credit card balance in full on or before the due date brings the outstanding balance to zero.

The processing time for MUDRA loans depends on the category under which you’re applying. Shishu loans up to Rs. 50,000 are processed quicker than the other two categories. You can expect the loan amount to reach you within 7 - 10 days of submitting the application.

Just because you are retired and drawing a pension, it doesn’t mean that your expenses come to a pause. There are plenty of financial commitments for pensioners like funding a child’s marriage, unexpected medical expenses, and finally going on the overseas vacation, that they have always dreamt of.

The first rule to clearing off your outstanding debts is not to take any more debts, until you settle all outstanding dues. You can follow either of these strategies to pay off your debts quickly.

The PMMY (Pradhan Mantri MUDRA Yojana) was introduced in April 2015 to help businesses and self-employed individuals avail loans at attractive interest rates. The first step to securing MUDRA loans is to check your eligibility. Once you have verified that you’re eligible, you can follow the steps listed below to secure the loan.

What happens to your life insurance policy when you quit or retire from your job, depends on how the policy has been set up. Let’s take a look at the possible scenarios

The maximum loan amount one can borrow under the MUDRA scheme is up to Rs. 10 lakhs and with a maximum repayment tenure of 5 years. The MUDRA scheme offers refinance support to banks and NBFCs that offer loans to MSMEs under the Pradhan Mantri MUDRA Yojana.

The PMMY (Pradhan Mantri MUDRA Yojana) was launched in April 2015 by the Honorable Prime Minister of India. The aim of the MUDRA loans is to help micro, small and medium enterprises access formal loans quickly and easily. Eligible business owners and self-employed individuals can avail loans up to Rs. 10 lakhs under the PMMY.

Razorpay business account offers an array of features for merchants and businesses. You can use this account to pay vendors, employees, and customers. However, before you can start the payouts, you need to ensure that the RazorpayX business account has sufficient funds. To add money to your Razorpay business account, you can use any of the following two methods

If you’re a customer, using the Razorpay payment gateway to pay for an online transaction, then you don’t have to do anything to check the status of the Razorpay payment. You will automatically receive an email verifying the success of the transaction from Razorpay. Note that Razorpay is a payment gateway and only facilitates the process of payment. To get further details of your order,  you can contact the merchant.

Razorpay is one of the most innovative and popular payment gateways in India. Founded by a group of IIT Roorkee alumni, the company promises to make money management efficient and hassle-free for online businesses in India. It is backed by industry giants like Sequoia, Ribbit Capital, Tiger Global, Matrix, Y Combinator and several others.

By using the Razorpay payment gateway, you can receive online payments from your customers. However, you need to activate your account, before you can begin accepting payments.

No. Razorpay charges a nominal fee to customers for using its payment gateway. While setting up the Razorpay payment gateway for your online store, merchants can choose from two different plans.

As the name implies, a whole life insurance policy is a type of life insurance plan that covers the insurer for his entire life. Besides providing financial security to the policyholder’s family, it can also be used as an investment tool. As the name implies, a whole life insurance policy is a type of life insurance plan that covers the insurer for his entire life. Besides providing financial security to the policyholder’s family, it can also be used as an investment tool. Let’s check out the top benefits of whole life insurance plans in India: Whole Life Coverage - Unlike term plans that offer life coverage only for a specific period, whole life policies offer life coverage for the entire life of the insured, generally around 99 to 100 years. Death Benefit - In the unexpected demise of the policyholder during the policy term, the nominee(s) receives a bulk sum as death benefit. The death benefit is the total sum assured by the policy. Maturity Benefits and Periodic Payouts - Whole life policies offer maturity benefits that are provided at the time of policy maturity. The policyholder can opt to avail these benefits as a lump sum amount or choose to receive the benefits as regular income at periodic intervals. Fixed Premium - The premium amount remains unchanged for the entire tenure of the plan. For instance, if you’re paying Rs. 2500 per month now, you will continue to pay the same amount for the entire tenure, irrespective of market fluctuations, inflation, etc. Tax Benefits - The premium paid for a whole life plan is tax-exempted under Section 80C of the ITA. Similarly, the payouts received on maturity of the plan are also tax-free under Section 10(10D) of the ITA. Loan Facility - Once the policyholder has completed premium payment for three years, he can avail loans using whole life plans as collateral. A Tax-free Legacy for your Heirs - This is the biggest benefit of a whole life plan. It helps you leave behind a legacy for your children, grandchildren at the time of your death. Tax-free death benefits are the cherry on top. Knowing the benefits of whole life insurance policies can help you make a smart choice. Make sure to go through the features and policy terms, to choose the right plan that best fits your needs.

Generally, it’s not possible to cash out your group life insurance plan. Most employers offer group term insurance coverage to their employees. A term plan is a pure-risk life cover and offers no maturity benefits. It acts as a financial safety net for the family of the policyholder, if the primary breadwinner passes away unexpectedly. Since the plan offers only death benefits, it is not possible to cash out a term plan. The same applies for group term life cover as well.

Travel insurance is a type of insurance policy that covers you financially for any medical or nonmedical liabilities that may occur when you are travelling. Travelling to a new destination is both thrilling and scary. There are plenty of things that could go wrong - delayed flights, lost baggage, medical emergencies, and even trip cancellations.

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