Credit cards News
E-commerce platforms like Amazon, Flipkart offer no-cost EMI option on many goods. A no-cost EMI allows you to buy the desired good and make the payment in monthly instalments of either 3, 6 or 9 months. This is different from normal EMIs as you are not required to pay any additional interest on the EMI.
The change seems to be causing a lot of issues for customers previously reliant on subscription payments. Several Apple users have taken to Twitter to complain about the removal of the credit and debit card option. On the iPhone the subscriptions pages now shows denominations of INR 2000, INR 5000 and INR 10,000.
For auto-debit payments over Rs 5,000, banks and other financial institutions will have to ask customers for second factor authentication. Before a transaction, banks will send a notification to a customer via SMS and email. The cardholder will have the option of approving or disapproving the transaction.
If someone possesses a car, he/she can get a loan against it if they are in dire need of funds. It is a type of credit facility that is linked to a bank account and a user can get money from an account even if there is no money left in the account. People can also look for loans against gold as it comes at a lower interest rate and there are several lenders which offer gold loans.
Opening a college student credit card is a smart way to start building credit early while also taking advantage of rewards and special financing offers. Any student beyond the age of 18 years is eligible to apply for a credit card and these credit cards have lower interest rates and come with a validity period of 5 years State Bank of India, HDFC, Axis Bank, and ICICI Bank are the top banks that offer student credit cards. International students can also get credit cards from a few banks.
In an apparent attempt to make digital payments using debit cards and credit cards more secure, several new guidelines have been issued by RBI that will come into effect from October 1, 2020. The RBI had directed all banks to not unnecessarily give international facilities to customers' cards, unless the customer himself demands it. The move is aimed to stop increasing fraud transactions using debit and credit cards.