Bajaj Capital Finance Services firm has rolled out its coronavirus hospitalization insurance policy that covers all citizens including senior citizens up to the age of65 years. They can buy this product without taking any medical tests.

We need money for various reasons - to buy a house, for child’s marriage, to buy durables, for medical emergencies. Money is all required for any kind of emergencies. There are multiple ways to borrow money and different rate of interests. Two of the major form of moneylenders are Personal Loans and Credit cards. Here we will explore between the two and discuss some of the advantages and disadvantages and help you chose the best option for you. Though the answer depends on what you’re buying and how you intend to pay it back.

What is a Credit Score?

A credit score is a three-digit numeric expression for your credit history. A credit score is primarily based on a credit report, information typically sourced from credit bureaus. In India there are 4 credit information companies licensed to operate namely CIBIL, Experian, Equifax, CRIF High Mark. The most popular of all is CIBIL credit score. This score ranges from 300 to 900, with 900 being the best score. Individuals with no credit history will have a score of -1. If the credit history is less than six months, the score will be 0.

Whether you are planning to renovate your house, or buy a new car, or paying for your education or dealing with any emergencies personal loan comes in very handy. There are many lenders that would lend you money, it has become quite easy and simple, thanks to the internet. But there are few rules which you should always consider before getting a money loan.

An Introduction to credit card

A credit card comes in the form of plastic card which lets you access your credit limit through an ATM machine. A credit limit is assigned to you by your bank as per your spending capacity. A credit limit is like a loan. However instead of giving you the whole loan in one go, banks allows you to use your limit as per your need.

It happens with mostly all of us that we miss some important dates in day to day life. Similarly if you find out that your credit card bill due date was 1st of the month and it is already 3rd. Or you just checked that a late fee has been assessed in your credit card statement for a payment that you made late. This usually happen with many of us. So, if we act quickly then this damage can be controlled.

Retirement planning is a sensible and essential step that every working professional must take upon to retire wealthy. It's true that by the age of 60, you will most likely accomplish all your financial goals and thus will have fewer liabilities but that doesn't mean your need for financial security will minimise once you grow old. Post-retirement, most likely, you won't have a regular source of income, your medical needs will increase, inflation will make things much costlier, you will feel an increased need of domestic help, convenience help, etc.

On the whole, the approval rate of credit cards is less than 50%. Credit card approval depends on certain factors like your credit score which is the most important factor, then your annual income and also the city in which you are living.

It happens with mostly all of us that we miss some important dates in day to day life. Similarly, if you find out that your credit card bill due date was 1st of the month and it is already 3rd. Or you just checked that a late fee has been assessed in your credit card statement for a payment that you made late. This usually happens with many of us. So, if we act quickly then this damage can be controlled.