6 Ways to Pay Your HDFC Credit Card Bill

6 Ways to Pay Your HDFC Credit Card Bill

Credit cards comes with advantage that will allow you to purchase now and pay later option. the most important point to consider when using any credit card is its safety. Security of the credit card primarily lies on its number, if it is disclosed means security is compromised. So, one needs to be careful while handing card to others. Click to know on how to protect your credit card. 

Shopping is fun but when it comes to paying credit card bill it is a worry. Here are different ways through which you can pay bill. With these options there will be no more late payments.

1 HDFC Bank NetBanking

Registered NetBanking enabled account holders can transfer the outstanding Credit Card amount online.
One can link your Credit Card to NetBanking by log in to your HDFC Bank with the help of Credit Card ATM PIN.
However, Non-HDFC Bank customers having HDFC credit card can now make Credit Card payments online from any other bank account, even if you do not have an account with HDFC Bank.

2 HDFC Bank MobileBanking Apps

Make sure you have downloaded and installed the HDFC Bank MobileBanking Apps on your phone and enabled internet access.

Log in to the Mobile App using your Customer ID and go to the ‘Credit Card' tab, choose ‘Credit Card Payment' and make your payments using your HDFC Bank Savings Account.

3 HDFC Bank MobileBanking

Log in to your Netbanking account using MobileBanking through Browser (www.m.hdfcbank.com). Go to the ‘Credit Card' tab, choose ‘Credit Card Payment' and make the payments using your HDFC Bank Savings Account.

4 ATM Funds Transfer

All you have to do is walk in to any HDFC Bank ATM in India, at any time and transfer the bill amount from your Savings or Current Account to your Credit Card Account.

5 NEFT/ Visa Money Transfer

For other bank account holdersYou can transfer funds from any other bank account to your HDFC Bank Credit Card account electronically. Use IFSC Code HDFC0000128 for card payment through NEFT. Please prefix 00 to your 14 digit Diners Club Card Number).

6 Auto Pay

You can provide standing instructions to debit your HDFC Bank Account automatically for either the minimum amount due or the total monthly outstanding amount on your Credit Card. Your account with HDFC Bank should be a sole or a joint account with an 'any' or 'either' signing mandate.

Other traditional ways are, walk into any HDFC Bank branch and make your Credit Card payment by cash. Note: Cash payments at branches/ATMs will be charged a cash processing fee of Rs. 100/- per payment.

You can deposit a local cheque, having made it payable to the HDFC BANK Card A/c (you should mention your Credit Card number) at any of our drop boxes located at ATMs and branches in your city.

Read More

What Are Contactless Debit and Credit Cards in India?

What Are Contactless Debit and Credit Cards in India?

Following ICICI Banks, almost all banks will soon launch Contactless Debit and Credit Cards in the market. The latest cards will use the near field communication (NFC) technology to make payments at outlets.

How does Contactless Debit and Credit Cards in India Work?

Such card holders need not swipe the card at the POS (Point of Sale). They can simply tap it on the terminal and pay for your purchases. After tapping, enter the PIN, within seconds it beeps and a sales slip is issued when transaction is completed. However, on such cards, signature is not required.

The merchants include quick service restaurants, coffee shops, shopping marts and fuel stations where fast transactions are much required. The Bank plans to shortly extend this facility to other cities as well.

Benefits of Contactless Debit and Credit Cards

These cards require significantly less time compared to other cards to complete a transaction. While, there is no compromise on the security as the card remains with the customer.

This means that the merchant does not get to see your card details.

Some experts believe as there are multiple layers of security, even if the card is lost or stolen using mobile apps, it cannot be misused.

Speaking at a recent launch, Mr. Rajiv Sabharwal, Executive Director, ICICI Bank said, "We have always leveraged technology to introduce digital innovations and bring forth world-class banking experience to our customers. Many of these were firsts in the industry like Internet, Mobile, Tab and Touch banking among others. We are delighted to partner with MasterCard and Visa to introduce the country's first credit and debit card enabled with the contactless payment technology. We expect this to be a big game changer in the Indian payment industry"

Read More

Documents Needed to Apply for Credit Card

Documents Needed to Apply for Credit Card
Credit cards are the most attractive and easy way to purchase things. Moreover offers from bank and other companies makes using credit card irresistible !!

Before buying credit card, it is necessary to compare different credit cards and decide based on your requirement. Credit cards differ on basis of interest rates, late payment fees, over limit charges, reward points, or other important factors.

Before applying one needs to check whether he is eligible to apply or not.

Eligibility Criteria

1) One should be either salaried , self employed or professional

2) Should aged between 22 - 59, have a bank account and have some monthly Income

3) Must not have a history of bad credit or your loan should not be declined in Last 3 months

4) Should have some monthly repaying capacity

Document Required

1) Passport size Photograph.
2) Filled application form dully signed
3) Latest 3 months salary slips ( indicating break up of Gross salary i.e Basic Pay House rent and Net Salary after deductions)
4) 6 months bank statement reflecting salary credits updated within last 15 days.
5) Identity Proof (Any One ): Pan Card, Passport, Driving License or Voter's ID card, employee identity card as identity proof and signature proof incase of government employees.
6) Address Proof( Any One) : Passport, Driving license, Ration Card, Voter's ID Card, Bank statement, Rent Agreement telephone bill, electricity or water bill, loan Schedules and bank statement showing EMI debits.

Read More

Auto loans for used or second hand cars in India: What you should know?

Auto loans for used or second hand cars in India: What you should know?
It's not always that you would like to buy a brand new car or a vehicle. There are times when you realise that you would not drive much and that a used or second hand car would do.

Loans today are easily available for used cars, depending on the age of the car. If you have seen a 10 year old car and are expecting loan for the same, forget it. Just do not keep chasing the bankers as you are unlikely to get a car or auto loan approved for the purpose, if the age of the vehicle is over 4-5 years.  

Important things to know before you take an auto or car loan in India:

a) Interest Rates on Used Cars Are Higher

Interest rates are generally higher in the case of used cars. It's almost impossible to say how high these rates would be. It would most certainly depend on the financier and the age of the vehicle. Older the vehicle higher would be the applicable interest rate.

You can expect interest rates to be higher by at least three per centage points on an average.

b) Banks Offer Cheaper Rates for Used Auto and Vehicle Loans in India

If you have to choose between an NBFC and a bank, go in for the bank, because the interest rate would be certainly cheaper. In fact, if you are able to rope in a government owned bank, you might get the loan at an even cheaper rate.

c) Age of the Car Important

The age of the car or the vehicle is extremely important. Older the car, the higher the interest rates. In fact, older the car lesser the funding as well.

d) Financing Through a Reputed Dealer is the Better Option

You may have heard of certified cars. Almost every top manufacturer certifies used cars. For example, Maruti has True Value, where Maruti engineers certify the health of the car. They check several key points to determine the health of the car.

Banks may favour buying from a reputed second hand vendor like Maruti True Value, which would to some extent guarantee the value of the car.

e) Loans For a Lesser Period

If banks grant an auto loan for a maximum of 5 years, it would be almost certain that you would not get the same tenure for a used car.

Conclusion

If you are going for a second hand car make sure that the car is not very old. This would save on interest rates and help in easy approval of the loan.

If you are passionate about cars, bikes and vehicles, do not forget to 

Read More

How to Stop SBI Cheque Payment Online?

Stop payment facility will enable you to protect from fraud or forgery or in case of misplace of cheque. But, before placing for stop payment request one needs to ensure that the check is not yet been presented for clearing.

However, if the cheque is presented before stop payment is requested, in such cases banks will not be able to stop the payment of your check.

There is certain fees charged by the bank for providing this service. However, charges differs with banks and number of cheques you are requesting to stop.

Steps to stop issued cheque payment online

Here, lets take an example of SBI Bank

To give stop payment online, first you need to be registered with the Bank

1. Visit onlinesbi.com

2. Login under Personal banking (With Username and Password)

3. In home page click "e-services" Tab

4. From the drop down click "Stop Payment"

5. Enter the details- Cheque number, date, name of the party.

6. Tick the terms and conditions icon and

7. Click submit.

Read More

6 Things to Check Before You Apply for a Loan

Before applying for a loan there are certain things that you need to check. This will ensure that you do not make losses and also will not disappoint you in case your loan is rejected. Here are 6 things that you must check.

Evaluate Your Finances
Don't go for a loan just because you can afford to pay the EMI from your salary or from your other sources of income. Loan entails processing fees and interest, which can make them really expensive, especially personal loans. Go for a loan only when you really need it.

Do not forget your Cibil score
Check your Cibil score before you apply for a loan. This will ensure that you are not disappointed in case your loan is rejected or a lesser amount of loan is sanctioned.

Use online portals to compare
Variance in interest rates can mean a lot, especially in large sized loans like home loans. It is best to compare loans online. There are many portals that allow you the facility to compare loans before you take them.

Check your own ability to service loans
Please check your own ability to service the loan. Sometimes, you may not be able to pay the EMI because of other outstanding loans or poor take home salary.

Compare processing charges
Many banks waive off processing charges during festive seasons. At other times the processing charges differ from banks to banks. In general government owned banks like SBI or more reasonable in terms of these charges.

Read More

Reasons for rejection of your car loan application

Reasons for rejection of your car loan application

Easy financing schemes offered by banks and financial institutions have made purchase of high-value luxury items such as a car really affordable. But many a times, banks reject application for car loan despite an individual earning a decent salary. One of the reason that may be cited by the financial institution for the loan application rejection among other possible reasons may be low credit score.

Credit score determined by credit bureaus on the basis of the credit history of an individual is a 3-digit numeric figure in the range of 300-900. Some of the leading credit bureaus in India include CIBIL, Experian and Equifax. Each of the credit bureaus adopt a different methodology to compute the credit score. Usually, a credit score of 700 and higher is deemed as good.

In order that your loan application does not gets rejected on this ground, you need to ensure a good credit score by maintaining good credit history. Credit history that is a snapshot of the current as well as past credit relationship of an individual with the financing company can be well maintained by servicing debt obligations in full and in a timely manner. Note, rejection of loan application in a previous instance also shows up in the credit report, so without due consideration do not apply for loans simultaneously at two institutions as it impacts your credit report badly.

However, in case you inadvertently have become the victim of low credit score and poor credit score and due to it are facing rejection in each of your financial attempt, you can turn to credit repair companies which will you in restoring your finances.

Other possible reason of loan application rejection may be in a case when you are already trapped in too many ongoing loans and bank adjudges that another loan will impair your ability to discharge  debt obligation towards existing loans. Job stability and other such factors that determine loan repayment ability of an individual are also taken into account while approving the loan application. So, it is highly likely that loan application of a person who hops job on a regular basis and shows up lower job-stability gets rejected.

Read More