Can I get a home loan with less than 2 years’ work history?

Yes, you can. Your dream to get a home can be fulfilled through various ICICI Bank home loan schemes. As one of the leading home loan providers, it offers a variety of home loan schemes with different eligibility criteria that you need to know/fulfill before applying.

Normally, if you are a salaried individual, you need to submit last 2 years IT returns & balance sheet & P/L account statement. To get these documents you need to have an experience of 2 years.

ICICI bank provides an easy and quick way to get a home loan. With a higher eligibility, you can even enjoy lower EMIs at an affordable rate of interest. In addition to this, ICICI also offers pre-approved loans to select customers and existing customers can avail the benefit of reduced documentation requirements. 

Features and benefits of a home loan from ICICI Bank:

1.       Reasonable rate of interest with both floating and flexible options

2.       The home loan can be sanctioned without even selecting the property

3.       A really simple and smooth documentation process for both new and existing customers

4.       Customers opting for this home loan enjoy longer loan term and lower EMIs

5.       The Balance transfer facility is another advantage of ICICI bank home loan. It allows customers to transfer their existing home loan from any other bank to ICICI bank and enjoy long term savings

6.       Customers can get the loan for up to 30 years

7.       Enjoy a fixed rate of interest for the first 10 years, and later choose a fixed or floating interest rates

8.       The facility of pre-approved loans is also available for customers at ICICI bank

9.       An access to Eligibility calculator and EMI calculator on the ICICI bank website

10.   The Balance Transfer facility allows customers to enjoy additional top up loan amount. This can be up to 100% of the original home loan.

In addition to this, the ICICI bank offers complete guidance to its customers to make their home buying process hassle free. Simplified documentation, flexible repayment options, free personal accident cover, sanctioned approval without having selected a property are other key benefits of ICICI bank home loan.

Those who are interested to apply for an ICICI bank home loan need to provide the following documents:-

1.       Identity Proof, Age Proof, and Residence Proof

2.       Bank Statement of The Last Six Months

3.       Salary Slip of The Last Three Months

4.       Processing Fee Cheque

5.       Form 16 / Income Tax Returns   

Furthermore, self-employed professionals and self-employed nonprofessionals are also required to provide:-    

1.       A valid proof of Education qualification and business existence                

2.       Income Tax Returns with computation of Income of the last 3 years           

3.       Last 3 years CA Certified / Audited Balance Sheet, only from ICICI Bank.

4.       You can apply for a Home Loan with ICICI Bank online in few easy steps.

5.       Visit the ICICI Bank website

6.       Select ‘Apply Now’ option

7.       Fill in the ‘Get eligibility’ form and click on ‘Get Quote Now’ option present at the bottom of the page

8.       Once you get the quote in the next window, click on Apply now option present in front of each loan scheme you are eligible for.

9.       In a new window, you need to fill in your name and mobile no.

10.   Once providing both the details, you will get access to ICICI bank home loan application form.

11.   You need to fill all the information and submit online.

The bottom line: From the above concluded topic it is clear that Home loan has become the basic necessity in day-to-day’s life. People greatly look for flexible housing loan schemes to buy their dream home without many hassles.  In this context, the home loan schemes offered by ICICI are benefitting prospective home buyers significantly and helping them fulfill their much-anticipated dream.

Where can I use HDFC Food Card?

The Food Card (known as food plus card) by HDFC is its collaboration with VISA International again. The employer has to apply to HDFC Bank for issuance of food plus cards for its employee. Then the card is distributed by the employer to its employee so that the employee can have meal in the office and the employer gets rid of coupon listing and tracking system. It is hassle free as the paper vouchers that were distributed among the employee of the corporate had to be tracked manually and reconciled. And if the voucher gets lost or damaged no other alternative was available. The food card has very simple documentation and once it is done it can be used as a debit card only by the given employee. The card is reloaded on the request of the employer when ever indicated. It can also be easily funded from Enet or it can have instructions to directly get the amount debited from the bank. The card has the facility to be monitored that is one can check the balance available in the HDFC ATM machines. It has the net banking access also where you can do online groceries shopping. The card also has the phone banking facility to it. If by chances the card gets lost it can be hot listed by contacting the phone banking. The new card can be issued after the hot listing is done and the balance is transferred to the new card. The major advantage is that Government of India has given a provision that a certain amount of expense is free from tax. The biggest one of all is that some amount of tax is saved every month on the amount we put in the card.


Usage

• This card is a boon in the sense that if you run short of money then also you have this card that will be accepted to purchase groceries and food outlets
• However it gives the benefit that it can be used at all the food and beverage outlet that covers VISA.
• The government has put a regulation that the card can be used only for ready to eat food or non-alcoholic beverages.
• They even cover big bazaar, heritage or for that matter Nilgiris are also considered as food outlets.
• Even Kirana stores who have a visa sticker displayed on it the card covers all of them.
• Any supermarket like Reliance Mart, D-mart and Star Bazaar which accept visa the food plus card can be used for any of the stuff being sold out their.
• It can also be used at all the restaurants which cover visa.
• The cad can be used at some clubs also.
• The card as mentioned can be used at KFC, Subway, and Pizza hut.
• Groceries stores like Reliance Fresh and Spenser also accept this card.
• The food plus card can be used at any POS given by HDFC bank.
• The food plus card can be used in India only.

So by this food plus card HDFC bank provides the easiest way to distribute meal allowances amongst various corporate through out India.


The credit cards across banks and mobile money gives offer of cash back on using them. As told by Subrat Pani Head Kotak Creditcards in one of the articles in economic times Cash-back can be taken as instant gratification and influences of customer behaviour. The exclusive credit card Trump constitutes 65% of the cash back for their credit card base.


The cask back offers are given to the customers so that they can be lured to swipe their cards or use their mobile money by shopping through them. The cash back offer is displayed on the bank records when ever the purchase is made. Mostly merchants do this for no other or extra cost and it is a way in which we can save money apart from network atm fee.


However if we think that how the bank can afford to give its customers a cash back it is simple that by charging the merchant a certain amount of fee on the transaction of credit card the bank takes a cut on the project when the cash back offer is prevelant.These offers generally coincide with the shopping festivals running across the country. At the time of these festivals the merchants offer huge discounts and also does tie up with major banks to offer this difference to the customers which is given to them in the form of cash back.

Does it make sense to take out a personal loan to cover credit card debt?

It is very rare when taking more debt or loan to pay off existing liabilities (such as credit card debt) makes sense. Using a personal loan to pay off your credit card debt is just like moving the money around, but the debt is still there. It is considered as moving the money you owe the bank from one pile to another. You will just end up getting another pile of debt with better terms for you and your family. 

These are the three situations when it might make sense to take out a personal loan to cover your credit card debt:

• Lower your Interest Rates

The most imperative aspect of a debt consolidation loan is to lower the annual interest rate of your outstanding amount. Often, taking a personal loan can be the perfect for you to lower the annual interest rates.  You should not consider a personal loan to cover your credit card debts if it doesn’t lower the annual interest rate which you are paying by now. When you pay a lower interest rate, it will allow you to pay off more principal every month, which in turn will help you in getting out of debt faster, and ultimately lower the total cost of your debt.

• Unify your payments into one

Unifying several credit card payments into one loan is a big achievement and having that one loan payment will allow you focus all your attention, time and money into that one payment as it is much easier to concentrate on paying off one debt instead of many other smaller debts that always seem to nip at your heels.

Once you done consolidating your credit card debt with personal loan, you must keep a watch on your credit card balances and should avoid racking it up. It would not do much good, if you focus on one large debt and start accumulating smaller balances again on your credit cards.

It is advisable for you to avoid playing a shell game with your debts. Consider the underlying, basic reason why you are in debt. Whether you spend more or you don’t stick with your family’s monthly budget, solve such issues in order to get out of your debt and stay out of your debt. 

• Lower your monthly payments

If you use a personal loan to consolidate your debts then it may also lower your total monthly payments for the debts you owe. You may have to run the numbers, but often you will notice that your monthly minimum payment for your personal loan is lower than the sum of all your separate credit card minimum monthly payments.

When you lower your monthly payments, it can help you in creating a debt snowball and would help you to cover your credit card and now personal loan debt faster. For instance, if you were at first paying Rs.30,000 per month in minimum payments to the credit card companies and now started paying only Rs.26,000 per month for your new personal loan, then now you can pay for the other Rs.4,000 per month directly to your loan’s principal. This approach will help you in getting out of a debt faster.

If you are not saving much by rearranging your credit card debts using a personal loan, either by cutting down your monthly payments or lowering your interest rates, it is possibly not a good idea to restructure your debt. Make moving your debt around valuable to you. Try insisting on a lower interest rate for your debt and lowering your monthly payment so you can pay your debt faster, also take control over your finances with one lower monthly payment.

What Are the Top 5 Credit Cards Available For Salaried Person?

Credit cards come as a boon for salaried professionals. It gives them the privilege to make an immediate expenditure on credit and pay the amount later. Usually, a credit card limit is decided on your annual income and credit history. But as the common rule goes by, the more will be your annual income; the better will be your credit limit.

credit cards for salaried person

In India, there are many banks and other lending institutions which offer a host of credit cards with amazing benefits and timely rewards. However, anyone planning to apply for credit card must choose a card keeping in mind their requirements as well as spending habits, as both these factors will greatly affect their credit card EMIs and credit history.

Listed below are top 5 Credit Cards Available for Salaried professional:-

The Platinum plus Credit Card from HDFC bank

It is yet another beneficial credit card for the salaried professional. Though HDFC bank offers a platinum credit card at an annual fee of Rs 299, but if you have made the transactions of Rs. 30,000 from your credit card within one year, the bank will not charge any annual fee for that particular year. Although you must pay your credit card dues on time but if you fail to do so, HDFC bank charges low fees on late payment.

The Gold and More Card from SBI

SBI charges Rs. 499/- each as the annual fee and joining fee. But if you make the expenditure of Rs 75,000/- from your credit card within a year, the bank will charge no fee from you for that particular year. On top of that, using Gold and More Card from SBI, you can get 2.5 percent cash back on all the departmental stores and shopping on groceries, cash back of Rs.100 on the first ATM withdrawal and also add-on cards without any charges levied on it.

The Platinum Credit Card from Citi Bank

Unlike other cards that come with a high rate annual fee, the platinum credit Card from the Citi Bank comes with zero charges on both the joining fee and the annual fee. With a monthly interest of 3.25, the Platinum Credit Card offers a wide variety of benefits to the salaried professionals. It offers 5x rewards at shopping, restaurants along with a host of discounts and offers on movie tickets, travel as well as EMIs.

The Trump Gold Credit Card from Kotak Mahindra Bank

The bank does not charge anything as joining fees but the annual fee of the Trump Gold Credit Card from Kotak Mahindra Bank is Rs.499. Any individual who depends on his salary and gets an annual income of more than Rs.3 lakhs is eligible to take Trump Gold Credit Card. Kotak Mahindra Bank offers 10 percent cash back on movie tickets and dining, EMIs payment at zero charges, railway surcharge renunciation of 1.8 percent and zero liability on lost cards.

The Platinum Credit Card from Axis Bank

Platinum Credit Card from Axis Bank offers good many benefits to the salaried professional. One can take insurance through this credit card, get special offers on matrix cellular as well as Hertz car rentals and avail 2.5 percent of fuel surcharge waiver. Offered at 2.95 percent monthly interest, the joining fee of the Platinum Credit Card from Axis Bank is Rs. 500/- but it will not be charged if you spend Rs. 5000/- or more within the first 45 days.

The procedure to apply for any of the credit cards is very simple and convenient for all. But before you pick and choose the best card for your need it is advised to compare the list of benefits and rewards that each credit card offers to the customers. In addition to this, you must also look at the joining fee, annual fee and other charges that you need to pay to get the credit card.