Skip to main content

Credit Card for Self Employed in India

  

India is slowly moving towards becoming a country of entrepreneurs as more and more individuals are saying good bye to their jobs or denying placement offers to start their own company. With this rising number of self employment it is becoming equally difficult for an entrepreneur to arrange a starting capital to manage expenses. However there are many credit cards for self employed in India offered by most of the banks and card companies which can help during the initial phase of growth. And these individuals can now easily get a credit card and in turn run their businesses smoothly without worrying much about the funds. Of course, venture capitalists are pumping in lot of money in start-ups but not everyone can meet their requirement. And for such individuals credit card is a big rescuer.

How self employed can apply for a credit card?

Many card companies/banks offer best credit cards to the self employed and each have its own eligibility criteria, terms and conditions, benefits, features and others. So let's get into the details:

Eligibility:

  • Minimum age limit: 18 years
  • Minimum income per annum. This is the most important eligibility criteria for each and every bank/card company. For e.g. to apply for an HSBC gold card, self employed person should have annual income of Rs. 5, 00, 000. And this is required to check the repayment capacity of the person.
  • No payment or credit default or debt
  • Good credit history
  • Some banks also require bank account with them. And it should be active with trading done for minimum 1 year
  • Address proof (Landline telephone bill, ration card, passport & others)
  • Identification document proof (PAN card, election card & others)

How to apply for a credit card – documents required:

The first step to get a card is filling the application form and submitting the following documents:

  • PAN Card
  • ID and address proof
  • Business card
  • Latest income tax returns
  • Form 16A
  • Colored photographs
  • Age proof: Although not required by every company/bank, few might request it

Which companies offer credit cards for self-employed person?

Here are few banks or companies offering credit card for self employed along with the card names:

  • Bajaj Finserv World Card and Platinum Card
  • HSBC Gold Credit Card
  • American Express – Platinum Card, Platinum reserve card
  • Axis bank gold credit card
  • HDFC silver and gold card & many others

Benefits and features:

Credit card being a competitive industry, every bank or card company tries to lure new customers with freebies, reward points, cash back and many others. However listed below are the most commonly offered benefits:

  • Reward points: For every purchase at grocery/retail stores and at other places
  • Bill payments: Mobile, landline, electricity and others
  • Vouchers: Holiday, entertainment

Features to check before buying a card:

Before a self employed person selects a card, he/she should look for following features as they can help in saving a good amount of money and make life easy:

  • Joining fee
  • Annual fee
  • Card cancellation fee
  • Credit limit
  • Billing cycle
  • Bill payment methods
  • Late fees
  • 24*7 customer support
Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

Popular posts from this blog

Post Office Deposits Interest Rates

Best SIP Funds to Invest Online   SIPs are Best Investments when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich For further information on Top SIP Mutual Funds contact  Save Tax Get Rich on 94 8300 8300 OR You can write to us at Invest [at] SaveTaxGetRich [dot] Com

LIC Leave Encashment Plan

LIC Leave Encashment Plan       Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015 1. ICICI Prudential Tax Plan 2. Reliance Tax Saver (ELSS) Fund 3. HDFC TaxSaver 4. DSP BlackRock Tax Saver Fund 5. Religare Tax Plan 6. Franklin India TaxShield 7. Canara Robeco Equity Tax Saver 8. IDFC Tax Advantage (ELSS) Fund 9. Axis Tax Saver Fund 10. BNP Paribas Long Term Equity Fund You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds Invest in Tax Saver Mutual Funds Online - Invest Online Download Application Forms For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call --------------------------------------------- Leave your comment with mail ID and we will answer them OR You can write to us at PrajnaCapital [at] Gmail [dot] Com OR Leave a missed Call on 94 8300 8300 --------------------------------------------- Invest Mutual Funds Online Invest Any Mutual Fund Online Download Mutual Fund Application Forms fro

Power of Compounding in Investments

Power of Compounding in Investments Invest Rs 1,50,000 and Save Tax up to Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds. Save Tax Get Rich Top 10 Tax Saver Mutual Funds for 2017 - 2018 Best 10 ELSS Mutual Funds to Invest in India for 2017 1. DSP BlackRock Tax Saver Fund 2. Tata India Tax Savings Fund  3. Birla Sun Life Tax Relief 96 4. ICICI Prudential Long Term Equity Fund 5. Invesco India Tax Plan 6. Franklin India TaxShield  7. Reliance Tax Saver (ELSS) Fund 8. BNP Paribas Long Term Equity Fund 9. Axis Tax Saver Fund 10. Sundaram Diversified Equity Fund Invest in Best Performing 2017 Tax Saver Mutual Funds Online Invest Best Tax Saver Mutual Funds Online Download Top Tax Saver Mutual Funds  Application Forms For further information contact  SaveTaxGetRich on 94 8300 8300 OR You can write to us at Invest [at] SaveTaxGetRich [dot] Com OR Call us on 94 8300 8300

MF SIP Top Up Online

Mutual Fund SIP Top Up Online As your monthly income grows, so should your savings. With this facility, you can increase your existing monthly SIP contributions. This can be done on a half-yearly and yearly basis. And you can top up with a minimum of Rs.500 per installment or multiples of Rs.500 as per your convenience.

Kotak Banking Exchange Traded Fund (ETF)

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300 Kotak Banking Exchange Traded Fund (ETF) Kotak Mahindra Mutual Fund has launched Kotak Banking Exchange Traded Fund ( ETF ). The fund aims to provide returns before expenses that closely correspond to the total returns of stocks belonging to the CNX Bank Index , subject to tracking error. For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call Leave a missed Call on 94 8300 8300 Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest Mutual Funds Online Invest Any Mutual Fund Online Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund Application Forms --------------------------------------------- Best Performing Mutual Funds Largecap
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now