Zero-Investment Ways to Make Money in India

Do you find yourself caught in the conundrum of wanting to earn more money without having to spend a small fortune to do so? You’re not alone. Many of us grapple with the need for extra income but are hesitant to invest our hard-earned money in uncertain ventures. Fortunately, we have the solution you’ve been seeking.

In this blog, we’ll unveil a set of zero-investment methods that can help you earn money in India. From the exciting IDFC FIRST Bank MyFIRST Partner Program to various other ingenious strategies, we’re about to show you how to boost your income without spending a single rupee upfront.

1. IDFC FIRST Bank MyFIRST Partner Program

Earn Money by Referring Friends and Family

Looking to earn extra income online? Join as a MyFIRST Partner with IDFC FIRST Bank and tap into the power of referrals. You can earn over ₹50,000 per month by simply referring friends, family, or acquaintances to opt for personal loans with the bank. The best part? It requires zero investment! You can use this second income to meet your daily expenses or save towards achieving your dreams.

2. Affiliate Marketing

Promote Products and Earn Commissions

Affiliate marketing is a popular way to make money online with zero investment. You can sign up as an affiliate with various e-commerce platforms, promote their products or services through your unique affiliate link, and earn commissions on every sale generated through your referral. Share these links on your social media, blog, or website to maximize your earnings.

3. Content Creation

Monetize Your Passion

Do you have a talent for writing, photography, or video creation? Utilize your skills to create valuable content on platforms like YouTube, Instagram, or Medium. As your content gains popularity, you can earn money through sponsored posts, ad revenue, or by selling digital products like e-books or presets.

4. Online Surveys and Market Research

Share Your Opinion for Cash

Many companies are willing to pay for your opinions. Sign up for online survey websites or participate in market research studies to provide feedback on products and services. You can earn cash, gift cards, or other rewards for your time and insights.

5. Freelancing

Offer Your Skills

If you have skills in writing, graphic design, programming, or any other field, consider freelancing. Platforms like Upwork, Fiverr, and Freelancer connect freelancers with clients seeking their services. You can offer your expertise and earn money on a per-project basis.

6. Online Tutoring

Teach and Earn

If you excel in a particular subject or skill, become an online tutor. Various online tutoring platforms allow you to connect with students seeking assistance. You can teach subjects like mathematics, languages, or even offer music lessons from the comfort of your home.

7. Referral Earning Apps

Spread the Word and Earn

Apart from the IDFC FIRST Bank MyFIRST Partner Program, there are other referral earning apps available. These apps reward you for referring friends and family to their services, such as payment apps, shopping apps, or even ride-sharing apps. Each referral can earn you cash rewards or discounts.


Making money without any initial investment is entirely possible in India. Whether you choose to become an affiliate marketer, create content, participate in online surveys, freelance, tutor, or use referral earning apps, the options are diverse and accessible to everyone. So, why wait? Start exploring these opportunities and watch your income grow without spending a single rupee.

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​Unravelling small-cap funds: Are the rewards worth the risks?

To simplify things for investors, mutual fund companies often group their funds based on company size. There are three major kinds – small-cap, mid-cap, and large-cap.

Being aware of these distinct fund types is essential for making prudent investment decisions. Covered here are the significance of small-cap funds along with their benefits and associated risks.

What exactly are small-cap mutual funds?

Small-cap companies are the ones that rank beyond the top 250. Small-cap mutual funds are like a group of investors pooling their money to invest in these smaller companies.

The upsides of putting money in small-cap mutual funds

Before delving into the risks of small-cap mutual funds, let’s first understand the benefits they bring to the table –

Potential for outstanding returns

Small-cap mutual funds can potentially provide significantly higher returns compared to larger funds. This is because smaller companies have room to grow rapidly.

Affordable investment entry

The expense of a small-cap fund unit (known as NAV or net asset value) is generally lower. This infers you can purchase more units with the same investment, potentially reaping higher rewards during favourable market conditions.

Spread your risk wisely

Investing in small-cap funds permits you to diversify your portfolio. This diversification shields you from thorough market downturns, allowing you to protect your investments even during tough times.

Recognising the hazards linked to small-cap mutual funds

Despite their perks, small-cap mutual funds do come with risks that investors need to be aware of. Let’s skim through a few of these risks –

Liquidity concerns

Large institutional investors do not usually invest in small-cap mutual funds. Even individual retail investors might not participate heavily. This can create liquidity problems, making it more challenging to buy or sell fund units.

To tackle liquidity challenges, it is advisable to invest with a long-term perspective. This lowers the requirement for constant purchasing and selling, making liquidity problems less impactful. Moreover, remaining updated with your mutual fund’s liquidity status as well as market trends can assist you time your transactions effectively.


This is a notable risk for small-cap funds. Funds’ value swing wildly, making them come across as a risky investment. So, losses could be considerable if prices do not go as anticipated.

To counter this, consider opting for buy and hold strategy. Holding your investments through market movements can assist balance out the market’s ups and downs over the short term. Diversification is the next crucial strategy, which means disseminating your investment throughout distinct fund types and sectors that can cushion the effect of volatility on your investment portfolio.

Variable performance

Small-cap fund’s performance depends on specific factors such as the selection as well as the performance of the stocks selected and the decision of the fund manager. Owing to such factors, the funds may not perform as impressively as you may anticipate.

To counter this variability in fund performance, ensure to research and choose funds with skilled and experienced fund managers. Their expertise in the selection of stocks and decision-making can considerably increase the performance of the fund.


Investing in small-cap funds can be beneficial if you factor in the potential rewards they provide. However, ensure to understand the risks associated with small-cap mutual funds.

Make sure to invest with a long-term vision. This can play an essential part in lowering the risks tied to small-cap investments as the market’s fluctuation tends to smooth out over the long term. While the potential of generating high returns is appealing, balancing your investment portfolio with different fund types can even offer high stability. So, acknowledge the risks, and make investment choices that align with your life goals and risk appetite to earn substantial returns.

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​The impact of technological innovation on mutual fund investing

With technology disrupting most sectors today, market investing is no different. Caught in the network of digitalisation, the mutual fund industry has started to use technology smartly for most of its processes such as customer servicing, transaction processing and fund management. This has made investing and trading in financial markets simpler, trustworthy, and more transparent. Besides this, it has also increased access to information and control over your investments. Discussed here in brief is the impact of technology on mutual fund investment.

  • Research and analysis

Until a few years back, you had to review stacks of reports physically and spend many hours with your financial advisor to decide your investment move. Today, advanced reporting techniques and online platforms have not just made research simpler, but they have provided you with control in your hands.

You can now download any authentic software to assess your financial goals, risk tolerance level and review the real-time developments in the markets. Besides this, there are many online financial service providers that tend to offer data-driven investment advice and personalised solutions that build higher trust in market investments.

Real-time access to data linked with funds not just assists you to understand where you are putting your money but also lets you keep thorough track of your investments and their performance over a long time.

  • Transaction speed

Owing to technological advancement, now you can conduct multiple mutual fund transactions quickly. This benefit has opened financial markets globally to all investors located anywhere in the world.

  • Online platforms

The advent of technology has improved access to financial markets, permitting investors of varying experience levels to start with investments easily. With the help of online platforms, you can simply purchase and sell mutual fund units, bonds, stocks, etc., while robotic advisors offer personalised investment recommendations and investment portfolio management services. Such tools have allowed you to take control of your investments and form investment portfolios as per your individual requirements and financial goals.

  • Systematic investing

The style of systematic investing depends on algorithms or models. It is even called quantitative or model-based investing. With technology, now you can invest in the market Like SIP, systematically with ease from the comfort of your home, which in turn allows you to overcome the biggest barriers to successful investment i.e., human emotions.


Digitalisation in the payment spectrum is the major reason for the mutual fund and investment industry’s meteoric rise in the current years. As per AMFI, AUM (asset under management) of the mutual fund industry as on 28th February 2023 stood at Rs 39.46 trillion from Rs 8.14 trillion as on 28th February 2013, which is a five-fold rise in ten years. Additionally, the implementation of technology into financial market sectors has brought transparency and enhanced access to data and insights that previously were not available. By using data analytics, you can figure out market trends, find hidden opportunities and evaluate investment portfolio performance in real-time. All of this allows you to make an informed decision as per your financial goals, risk appetite level and investment horizon.

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4 mistakes to avoid while investing in SIPs

Numerous stories exist about investors who made a fortune investing in stocks. But the truth is that successful investing takes knowledge and experience and even then, mistakes can still be made. It’s important to understand the potential pitfalls before you get started in order to avoid costly missteps. When it comes to systematic investment plans (SIPs), avoiding common mistakes is especially critical if you want to realise your long-term goals for wealth-building.

An SIP is a strategy to invest in mutual funds that can help you grow your wealth over time by regularly investing small sums of money towards specific financial goals. However, if done incorrectly or without the necessary knowledge, investing in SIPs could end up costing you more than intended. So, before you invest in an SIP and start building your portfolio, here are some costly mistakes to avoid.

  1. Setting unrealistic goals


The first mistake to avoid is setting unrealistic goals for your SIP investments. For instance, it would be unwise to expect a consistent 10% return each year on an SIP mutual fund over the next decade, as this may not be achievable with current market conditions and the underlying investment strategy. Similarly, aiming to retire within five years could be overly ambitious if the investor’s current income and savings are not enough to support them during this time.

Thus, your goals need to be based on realistic assumptions about your income levels, target amount, among other factors, and focus on achieving long-term stability rather than quick gains.

  1. Stopping or cancelling the SIP during market volatility


When markets become volatile, it’s normal for investors to feel worried about their mutual fund investments. However, cancelling or stopping an existing SIP plan during such times may not be the right move. Not only could you be missing out on potential market gains once the market rebounds, but you could also be missing out on the benefits of rupee cost averaging, which helps average out the highs and lows of the market over time.

  1. Not increasing the investment amount over time


Over time people’s incomes tend to increase due to promotions and salary hikes or through new sources of income, yet many investors fail to adjust their instalments accordingly. This can significantly reduce the total return on their investments as they may not be able to take full advantage of market opportunities due to insufficient capital invested when needed most.

Thus, with time, increase your monthly investment, even if by a small amount. This will ensure that you keep pace with inflation and market movements over time. You can also opt for step-up SIP and invest an additional fixed amount annually to keep up with your financial capacity and set yourself up to reach your financial goals faster.


  1. Investing too little or too much


If youinvest in an SIP insufficiently, then it will take longer to reach your financial goals. And if you over invest then it could limit your ability to manage any unexpected expenses or emergencies that may arise. The amount of money you should invest in SIPs depends on various factors such as your income level, expenses, amount of available capital, risk appetite, etc. You can use online tools such as an SIP calculator to project your estimated returns, compare different SIP plans, and determine the ideal amount of money to invest regularly.

While the above mistakes should be avoided at all costs, there are also multiple tips and advice you should follow for a successful investment strategy. Regularly monitor your SIP investments, compare different  types of mutual funds before selecting one, start investing early, and read the important documents that come with every fund.

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Popular BSNL Recharge Plans With Unlimited Voice Calling

Gone are the days when you had to recharge for a certain amount to get a limited Talktime. Today, although Talktime top-ups exist, they’re definitely getting overshadowed by unlimited calling plans. And you can get a variety of those with every BSNL recharge.

Currently, when you go for a BSNL recharge, you can choose between unlimited plans, Talktime top-ups, data vouchers, SMS vouchers and more. However, the most beneficial and in-demand plan among the BSNL recharge plans is the one with unlimited voice calling.

So, before you do your next BSNL recharge online, check out these popular BSNL recharge plans that offer unlimited voice calling across operators:

Popular BSNL Recharge Plans With Unlimited Voice Calling
Pack Cost & Validity All India Voice Calls Data SMS Additional Benefits
2 Days
Truly Unlimited 1GB/Day NA NA
22 Days
Truly Unlimited NA NA Get one National Discount Deal/Coupon product daily.
30 Days
Truly Unlimited 10 GB NA Get free BSNL Tunes.
28 Days
Truly Unlimited 2GB/Day 100/Day Get free Personal Ring Back Tone (PRBT).
52 Days
Truly Unlimited 1GB/Day 100/Day Get a free subscription to  EROS Now Entertainment.
65 Days
Truly Unlimited 10 GB 300 NA
70 Days
Truly Unlimited 1GB/Day 100/Day Along with free BSNL tunes, get a free subscription to Lokdhun content.
80 Days
Truly Unlimited 2GB/Day 100/Day Get free Zing and  EROS Now Entertainment subscriptions, and PRBT.
84 Days
Truly Unlimited 5GB/Day 100/Day Get a free Zing subscription, PRBT, and unlimited free night data between 12:00 am to 05:00 am.
90 Days
Truly Unlimited 2GB/Day 100/Day Get free BSNL Tunes, EROS Now Entertainment subscription, Hardy Mobile Games Service, Challenges Arena Mobile Gaming Service and “Lystn” podcast Services. You also get free subscriptions to Lokdhun and Zing.

All the plans mentioned above, along with some more that fit under this category offer truly unlimited voice calling across the country. This means you can call anyone across the country without worrying about the operator that they use. Moreover, you’re not even charged additionally for roaming unless you step out of India.

How To Do BSNL Recharge Online?

The steps for doing your BSNL online recharge are almost the same, no matter which payment platform you use. Currently, our favourite way of doing recharges is via the Airtel Payments Bank website. Here’s how you can do your BSNL recharge from the same platform as well:

  1. Go to
  2. Log in to your Airtel Payments Bank account using your credentials.
  3. Click on the Prepaid icon.
  4. Enter your BSNL number.
  5. Select your service operator’s name as BSNL.
  6. Choose your circle, for example, Maharashtra.
  7. Select from the various BSNL recharge plans given or enter the recharge amount manually.
  8. Click on Proceed.
  9. Now, complete the payment via Airtel Payments Bank.
  10. That’s it, your BSNL recharge is done!

Apart from BSNL recharge online, you can also use this website to make your BSNL bill payment.

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Creating a trading strategy for futures in the UK

Creating a trading strategy for futures in the UK can be complex, as many factors need to be considered. First, it’s essential to understand what exactly futures are and how they work.

Futures are financial contracts that specify a future transaction of an underlying asset at a predetermined price and date. In other words, they are agreements to buy or sell something at a specified price at some point in time. Futures contracts typically involve commodities like grain, oil, metals, livestock, stock indices, and currencies.

The two main types of strategies used for trading futures

When trading futures, there are two main types of strategies that you can use: directional strategies and non-directional strategies.

Directional strategies

Directional strategies involve taking a long or short position in a particular market. In other words, you’re betting that the futures contract price will increase or decrease. When trading a directional strategy, there are several factors to consider.

First, it’s essential to keep up-to-date with market news and trends to decide when and how to enter and exit positions.

Additionally, you need to carefully analyse historical price data for the asset in question to identify patterns and predict future price movements. This information is key to picking the correct entry and exit points for your trade.

It’s also essential to understand fundamental analysis to determine what types of economic events might influence prices moving forward. Finally, you’ll need to be well-versed in technical analysis and familiar with the various trading tools, such as moving averages or oscillators.

Non-directional strategies

Non-directional strategies involve taking a position that profits from the price moving in either direction, which involves using options or spread trades, which allow you to profit when the underlying futures contract goes up or down. With these types of strategies, there are several vital considerations as well.

First, it’s crucial to understand how options work and how they are priced before entering any trades. It would help if you also familiarised yourself with concepts like hedging and arbitrage to ensure that your positions remain profitable. Aside from this, it’s essential to keep up-to-date with market news and trends to know when to exercise your options or close out your contracts. Finally, you’ll need to be well-versed in technical analysis and familiar with trading tools like charts, triggers, and scanners.

What types of analysis are used in futures trading?

Several types of analysis are commonly used in futures trading, including technical, sentiment, and fundamental analysis.

Technical analysis

Technical analysis involves studying historical price data to identify patterns and predict future price movements using tools like moving averages, oscillators, and charting software.

Fundamental analysis

Fundamental analysis involves assessing economic factors that might impact the price of a particular asset or market. Some common economic indicators used in this analysis include GDP growth rates, interest rates, unemployment figures, consumer confidence indices, and inflation levels.

Sentiment analysis

Sentiment analysis is based on analysing social media trends or news articles to understand how market participants feel about a particular asset or market. This approach helps identify possible price reversals or market bottoms.

What are the benefits of using a trading strategy?

There are several benefits to using a trading strategy when trading futures. First, having a clear plan and guidelines can help you make more informed decisions, reduce risk exposure, and improve your overall profitability.

Additionally, understanding the different types of analysis used in futures trading can help you identify market trends and predict price movements more accurately. Finally, being well-versed in technical tools like charting software and scanners can help you spot new opportunities or manage existing positions more effectively.

Overall, using a trading strategy when trading futures allows traders to manage risk, take advantage of market trends, and maximise their profits over time.

The bottom line

When creating a trading strategy for futures in the UK, carefully considering all the different factors involved is essential. By understanding markets, price movements, and trading tools, you can create a successful strategy to help you achieve your financial goals.

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Know the Eligibility Criteria & Documents Required to Secure a Personal Loan.

A sudden financial emergency can hit you at any moment. Be it a medical emergency or a big-budget purchase, unforeseen expenses are unavoidable. Running from one place to another to secure money in these circumstances can be stressful. This was the scenario a few decades ago, but today, with easy financing and instant personal loans, financing has become amazingly simple. With the personal loan app, you can apply for a personal loan and get the amount credited to your account within minutes.

Unlike other types of loans, a personal loan is an unsecured loan and does not ask you to submit any collateral. So, to check whether you are a worthy candidate or not, the bank has a list of eligibility criteria and asks for you to submit some mandatory documents. Individuals who are salaried and self-employed must meet different qualifying requirements and submit relevant documentation. For better understanding, we have provided all the necessary information on personal loan eligibility and documentation if you are applying from a new loan app.

What Are Personal Loan Eligibility Criteria?

Though every lending institute may offer different rates of interest their eligibility criteria are similar to one another. Here’s a list of eligibility criteria for salaried and self-employed individuals.

  • Age: You must fall between the age range of 21 to 58.
  • Citizenship: You must be a citizen of India.
  • Occupation: Open to both salaried and self-employed individuals
  • Work Experience: As a salaried employee, you need to have been working for at least six months. In case, you are a self-employed employee, you need to have been in your current industry for at least two years.
  • Monthly Income: You must earn at least ₹15,000 every month.
  • Maximum Loan Tenure: The repayment terms can be extended up to 60 months.
  • Maximum Loan Amount: Usually you can apply for a loan of up to ₹ 5 lakh, but some lenders may offer you an amount than that depending on your profile.

What Are the Factors Affecting Your Eligibility Criteria?

Here’s a list of factors that affects your eligibility criteria for a personal loan:

  • Credit History: Your ability to obtain a personal loan will depend on your credit score and credit history. This element will influence the interest rate, loan term, and loan amount you are eligible for.
  • Age: Each lender has an age requirement that you must meet to continue the application process. The most common age criteria are between ages 21 to 58.
  • Housing situation: Your chances of getting your application accepted are better if you live in your own residence. The cause of this is that renting reduces your discretionary income, which diminishes your capacity to repay.
  • Your location: Your residence’s location is an important factor in establishing your eligibility for a personal loan.
  • Organization: Your employer will also have an impact on your ability to obtain a personal loan. You come off as having steady employment if you work for a well-known corporation with a strong reputation.
  • Existing Credit: Your possibilities of obtaining a new loan will be reduced if you have already taken out a personal loan, to improve your chances, you must pay it back on time.
  • Salary: The amount of the loan for which you would be qualified will depend on your income level. Your ability to obtain a personal loan will also be influenced by your income. So, try to maintain a steady income.

What Documents Should You Keep Handy While Applying for a Personal Loan?

Here’s a list of documents you will need to apply for a personal loan as a salaried individual:

Mandatory Documents

  • Application form
  • Coloured passport-size photo

Identity Proof (any one)

  • Aadhaar Card
  • Passport
  • License
  • PAN Card

Residential Proof (any one)

  • Passport
  • Drivers License
  • Ration Card
  • Utility Bill
  • Aadhaar Card

Income Proof

  • Form 16
  • A six-month salary slip
  • Six-month bank account statement

Residence Ownership Proof

  • Property paperwork
  • Power bills
  • Maintenance bills

Job Continuity Proof

  • Current employer letter of employment
  • Experience certificate from the previous employer

Now have a look at the list of documents necessary for a Self-employed Individual:

Mandatory Documents

  • Application form
  • Coloured passport-size photo

Identity Proof (any one)

  • Aadhaar Card
  • Passport
  • License
  • PAN Card

Residential Proof (any one)

  • Passport
  • Drivers License
  • Ration Card
  • Utility Bill
  • Aadhaar Card

Income Proof

  • Form 16
  • A six-month salary slip
  • Six-month bank account statement

Office Address Proof (any one)

  • Property documents
  • Rent agreement
  • Maintenance bill
  • Utility bill

Business Existence Proof

  • Copy of tax registration
  • Proof of shop establishment
  • Certificate of company registration


Eligibility criteria and documentation are critical components of the personal loan application process. Your loan will be accepted only if you meet the qualifying requirements. Once you have met the qualifying requirements, you must submit your papers for verification. Once the verification is over, your decided loan amount will get deposited in your bank account and can fulfill all your financial needs.

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Why Do Small-Scale Investors Choose Multi-Cap Funds?

Retail investors can be divided broadly into two – large-scale and small-scale investors. Large-scale investors are the ones who put a significant amount of money into their investments regularly. Investing could be more than a passive money-making option and rather a part-time for them. But most of the retail investors in India consist of small-scale investors. These include investors who put in a smaller portion of their salary every month in investment options like mutual funds through tools like SIPs. These groups of investors may not be as knowledgeable as large-scale investors, and they mostly look for an easier investment option. That is one reason why many small-scale investors choose multi-cap funds. But what are multi-cap funds, and why are they chosen more? Let us find out.

The need for balance

A balanced portfolio is often the most sought-after quality of an investor. Such a portfolio can ensure that your investment is appreciated and, at the same time, protected. Now, small-scale investors who cannot spend a lot of time perfecting their portfolios regularly will look for easier options to invest in a balanced portfolio. That is where mutual funds come in. They, by default, have a portfolio that is more or less balanced. But different mutual funds will have different characters, and the balance will defer too. For instance, an equity mutual fund will have more equity presence, and the balance will be affected by this too. One reason why multi-cap funds are chosen more could be because they can give you a well-balanced option by default. By how? Let us find out.

Categorization of mutual funds according to market cap

Mutual funds are categorized in multiple ways. Which, one important categorization is based on the market cap of the companies they focus on. Market capitalization, also known as market cap, is the total value of all the shares of a company. It is a dynamic figure and it is calculated by multiplying the number of stocks by the price of each stock. For example, if a company has Rs.1 lakh outstanding shares, the price at Rs.10 at this point, then the market cap of the company is Rs.1 lakh * 10  = Rs.10 lakh.

Large-cap funds

Large-cap funds are those that invest in large-cap companies. Large-cap companies are comaparitevly a safe investment option. This is because they are huge and have already attained stability. Investing in them tends to give you steady buy lower returns.

Mid-cap funds

Mid-cap funds invest in mid-cap companies mainly. Mid-cap companies are not as large as large-caps but they are still considerably big. Investing in them gives considerably stable returns but there is a higher potential for growth as they may still have space to grow. At the same time, they come with slightly higher risk as well.

Small-cap funds

All companies that are too small to be included in the above two categories are called small-cap companies. Small-cap funds invest in them. Investing in small-cap funds comes with a higher risk but they have a higher chance for growth as well.


A perfectly balanced portfolio with companies from the above three market cap categorisations is hard to create manually. This is mainly because the characteristics of these companies could change and it could be hard to monitor regularly.

But multi-cap funds are a solution here. They invest in companies of all three market caps to create a good balance. This balanced portfolio should be able to protect and at the same time, appreciate your corpus. This could be the most important reason why more small-scale investors choose multi-cap funds.

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How to get a personal loan with a low CIBIL score?

Periodically checking your CIBIL score is crucial for maintaining good credit health. CIBIL score is one of the major factors that impact your eligibility for availing financing, including personal loans. Having a strong score of 750 and above can make you an eligible candidate for an affordable personal loan offer. On the contrary, a low CIBIL score may make it challenging for you to get loan approval at favourable terms and conditions. However, getting approval with a low CIBIL score for a personal loan is not impossible if you follow certain tips.

Four tips to avail a personal loan with a low CIBIL score

  • Opt for a low loan amount

Usually, lenders hesitate to approve personal loan applications if you have a low score as it indicates poor credit history and incapability to meet Equated Monthly Instalments (EMIs) on time. When you have a low credit score, applying for a low loan amount may work in your favour. This is because a low loan amount reduces the lender’s risk, which indirectly boosts your loan approval chances. To know the loan amount you should apply for as per your repayment capacity and eligibility, you can use a personal loan EMI calculator.

  • Apply with a guarantor or co-applicant

As low CIBIL scores indicate a higher default chance and an enhanced credit risk for lenders, applying with a joint applicant can help. Adding a guarantor or co-applicant shifts the liability of your loan repayments on them if you default on the personal loan. Owing to this reason, the lender’s risk reduces, which makes them less hesitant to approve your personal loan application despite a low credit score. However, keep in mind that your co-applicant must have a high income and a good CIBIL score.

  • Show all your sources of income

Your monthly income directly indicates your repayment potential. Usually, a high income with lesser monthly obligations indicates that you have the required funds to meet your EMI payments. As a result, lenders might approve your application even if you hold a low CIBIL score. However, before you hit on the personal loan apply button on the lender’s site, ensure you have a reliable and steady income source. Besides your salary, you may also earn from other sources such as freelance work, rental properties, investments, and more.

  • Check if your credit report is up to date

Sometimes, the details in your credit report may not be up to date or there may be incorrect details in your report that may result in a lower credit score. In such cases, you must instantly report the discrepancies to the concerned authorities for correction. Rectifying such mistakes can increase your CIBIL score.

Ending note

Once you apply these tips, make sure to compare loan offers by different lenders so that you can get a good personal loan interest rate. Also, while you can get a personal loan despite a low credit score, work on improving your credit score over time as it will help you when applying for other loans in future.

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ETFs (Exchange-Traded Funds): What Are ETFs And How Do They Work?

Investments in the market are taken with the aim of earning extra revenue. People want the said extra revenue because they believe that the money will help them to take care of their day-to-day expenditures after retiring. But, before starting with your investment journey, it is imperative to remember that the act of investing is considered a long-time commitment and moreover, this action will help you with acquiring long-term wealth. When it comes to fund allocation, the income earned from the investment plans is as good as you build. For getting the portfolio right, you must get the allocation of assets i.e., equity, debt, and commodity, aligned with your investment objectives.

To build the portfolio in the right way, it is imperative that you are required to spend sufficient time studying the market and scrutinising all asset classes. After that, you should determine the level of fund allocation. It is common knowledge that several factors are known for having an impact on market sentiments, resulting in sharp variation in performance. Trying to keep up with all these factors, may not be easy for new investors. That’s where exchange-traded funds, i.e., ETFs can be helpful.

What are exchange-traded funds (ETFs)?

An example of a scheme that follows the passive investment strategy, exchange-traded funds (ETFs) is known for being shared investment tools that are known for functioning by both tracking and replicating an index. The index then can allocate funds to various asset classes like gold, debt, and equity.

Generally, these funds are known for tracking things like a sector, or a particular index.  However, the one way they are different from mutual funds is that exchange-traded funds can be either purchased or sold on an exchange just like stocks.

How do ETFs work?

ETFs are variants of mutual funds that are listed and traded on the stock exchange. This scheme can be both bought and sold with the help of an exchange just you do it with stocks. While most ETFs are generally known for being passively managed, there are some of these schemes that are actively managed as well. A portfolio for passive ETF is built in such a way that it can track an index such as the NIFTY 50. The NIFTY 50 can be defined as the index which is known for allocating funds to 50 of the largest Indian companies that are listed on the National Stock Exchange (NSE).

Moreover, ETFs may even track an index that is known for representing a sector (like NIFTY Pharma), or a commodity like gold. It is also important not that ETFs are also known for having symbols, like how it is possible to identify a company’s share by a specific symbol. For instance, on the exchange, it is possible to identify the IT company Infosys through the symbol INFY. Therefore, while looking up the share price of Infosys, all you need to do is look for ‘INFY’. Similarly, ETFs come with a specific ticker symbol as an identifier. With the help of this symbol, you can determine the ETF and find its current price. It is also important to note that there are different variants of ETFs that are available in the market as investment options. The said variants of exchange-traded funds are:

  • Equity ETFs:

This type of ETF is known for tracking broad market stock indices such as the BSE SENSEX or NIFTY 50. Apart from that, there are some international ETFs that follow the popular index of global markets such as Hang Seng and NASDAQ 100. If you are fresh in the world of investing, equity ETFs will help you to take the first step in equity investing. They do so by providing you with a flavour of what investing in stock markets feels like. By signing up for such an ETF, you will also get a chance to own all stocks that are part of a popular index and help their portfolio post near index-matching returns.

  • Debt ETFs:

Debt ETFs expose your investments to debt securities such as corporate bonds, government securities, commercial papers, and many more. They are known for tracking a debt index which, at times is specifically designed for the ETFs.

ETFs are known for being low-cost investment options. An ETF can also be used for exposing your funds to any market, asset class, or commodity.

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