Finance

Is dollar cost averaging really all it’s cracked up to be?

If you have been looking to make an investment, you may have come across the idea of dollar cost averaging. But it’s hard to know if this is a good idea unless you really understand the concept.

In this article, we will take you through the idea behind dollar cost averaging and point out the main benefits and uses of this investment technique. So, let’s jump straight in and prepare ourselves to invest!

What Is Dollar Cost Averaging?

Dollar cost averaging is a basic investment technique in which you invest an even amount of money in an asset over time, without worrying about its market price.

For example, you might decide to invest in a commodity over the course of a year. What you would do is decide your total investment amount and then divide it evenly across different intervals.

To make things simple, we will say that the total investment amount is $12,000 over the course of a year. To use the method, you would invest $1,000 each month for one year to make your total investment.

The main idea behind this investment is to not be affected by changes in the value of the dollar over time. Effectively, you are averaging the dollar price over a given period.

The reason you want to do this is that the dollar cost can be quite volatile because of various changes to the overall market.

Is It a Good Idea?

Dollar cost average has been favored by many investors who see it as a conservative way of benefitting from overall market growth, without trying to make complex predictions of peaks and troughs in market value.

For this reason, you are unlikely to make any massive windfall from your investment. It is not the same, for example, as the idea of day trading. This method seeks to make short-term gains on the volatility of the market during very short periods of time.

Using the dollar cost average method has a much longer-term outlook.

This means it is a very valuable investment technique if you are not prepared to risk your savings being quickly depleted.

This is why it is used in many 401(k) plans for retirement investment. You do not want to risk your retirement savings on the volatility of the stock market, but you also want to see it generally appreciate.

For this kind of investment, dollar cost averaging is perfect.

Investment Is a Personal Matter

Before you make any kind of investment, you need to be sure that what you are doing is right for your personal situation. A lot of us can be fooled into thinking that it is easy to make money on the stock market.

But the truth is that it is not easy to make large, quick gains on investments. If you cannot afford to lose the value of your investment, you shouldn’t listen to the advice of get-rich-quick investment schemes.

Dollar cost averaging is a much more secure and trusted method of making your money grows over a long period of time.

If you’ve found this information useful, why not check out some of our other great articles on investments?

How to Negotiate Salary

You might be getting a new job or maybe you are being promoted at your current one. You know what is the thirst thing keep in mind? Negotiating the salary. An astonishing amount of people do not even think about doing this because it seems scary. Because they might seem demanding and hurt their position at their workplace in the long run. Well, that is not the case. If you know your worth you have to stand up for yourself. Of course, you need to be realistic as well. You cannot ask for more than you are able to deliver. It is as plain as simple as that.

Only about 37% of people negotiate their salaries. That number is quite low, and you can change that for yourself. Let us give you a good example of why even a little amount can put you upfront. If a colleague in the exact the position who does the exact amount of work like you gets a couple thousand dollars more per year it will count in the long run. Say you get $100,000 and he gets $107,000. It will take you up to eight years longer to be as wealthy when you retire. Now that sounds like a huge amount of working time, right?

Now, to help you in your quest for a bigger salary, we will give you some insight about the best things to do and how to do them in this regard.

Know Your Value

First things first, you need to know what value you are bringing to the employer. You should not embarrass yourself by asking an inexplicable sum of money. That is now how it goes. You need to gather information about the rates for people working in your professional industry and on the same position. Take into account the geographic area. If you walk in without any back knowledge in regards to how people in similar fields earn you will be starting the conversation with the wrong foot. After the employer makes the offer, how will you know if it is even remotely fair? So, make your homework when it comes to how much you deserve.

Also, if you know that some other people might be offering more or that they already made you a better offer, state that out and clear if it is the case. If you are in this position you can only win. You are in control in regards to accepting a lower fee or not. Ask for more than the competitors and bargain until you feel you got the right amount. If they will not play fair, take your dignity and leave to the other workplace.

Good online places to conduct research about salaries and so are websites like Payscale and Glassdoor. You might be amazed at what kind of valuable information lies there waiting for you.

Rehearse Your Speech

Go prepared! Go prepared regardless of the circumstances.

If you are a man you will find a lot of great resources on how to be more confident here.

Sometimes, you might even need to be ready to bluff. That’s how life goes. Considering that most corporations will get rid of you the next second that you are not profitable, make sure to take out the most from them as well. Look in the mirror at home and start speaking. Do not get us wrong, we are not advising in being aggressive, but rather having strong will. Do not let your standards bend for any workplace. That is how the employers are also kept in check by the working community.

Now, it is also important to ask for the top range. We know that since you might be a good guy, you will be decent enough to ask for what might to be the more realistic middle. Bad move! Ask for the most possible because your employer will definitely negotiate you down. That is how you will make sure to soften the fall. You should also go to the meeting thinking that you are really entitled to the top pay. For all we know, you might very well be.

Also, try to ask for a really exact number. Say $4850 instead of $5000. This trick will make it look like you know the market very well. It turn out that by doing so you are more likely to score a better salary offer by being closer to what you asked for.

Is It Really Time?

If this is not a new job that you are hunting for, then the amount of time you have been around is super important. You need to have been working for that employer for at least one year before asking for a raise. The only exception for asking before that mark is if you have an absolutely marvelous efficiency rate. Then yes, go ahead and ask to your heart’s content.

If you are not a genius at that job, then you should take into consideration the following:

• How long have you been working there
• How many new responsibilities have you take since you have been hired
• If you have been exceeding expectations

If you can checkmark all of the above, you are in the green zone.

What you can do is to create some sort of plan for your future before asking a raise, this way you will know when is the time to make the move.

Another good thing to keep in mind is the time and setting you will be asking your boss for a raise. If you wait until the performance review seasons, he might already have a plan in his mind with a number for each person. That might be really hard to tackle. So, considering this, start talking to him about a raise three to four months in advance.

Now, how do you feel about getting that bigger salary? Do not get the feel of restraint because of ultimatums. If you do not have a family at home that requires you to support them, this should be all just a game your you. Play it cool and patiently. And, in our opinion, the most powerful characteristic from all of the above is the power to leave if you feel underappreciated. With all this being said, we hope you get the maximum out of your negotiation!

A good financial plan in place is very important to build wealth. They help you achieve your goals and live the life you have planned for you and your family. Following you’ll find important steps to create a good financial plan for you:

Discover where your money goes right now

The first and foremost step to create a good financial plan is to analyze where your money goes currently. Start jotting all your expenses in a notebook. You can opt for a tech-savvy approach wherein a personal finance app keeps track of all your expenses for you. Continue doing this practice for 3-4 months.

Write down your financial goals

Having correct financial goals is the foundation for achieving financial freedom. After all, it’s important to know what you want to achieve in order to actually achieve it. However, make sure that your goals are SMART – Specific, Measurable, Attainable, Relevant and Time-based.  Also, prioritize these goals and try to break them into smaller chunks so that you don’t get overwhelmed.

Create an emergency fund

It’s crucial that one of these goals includes a plan to deal with the uncertainties. You need to make sure you are prepared to face the storm. Failing to do so would result in adding on to the debt with every financial bump in the journey. Financial advisors recommend stashing at least 3 to 6 months of your salary.

Pay off your debt

You can’t kick start a financial future if the burden of hefty debts is holding you down. Make a debt pay-off strategy and be patient yet consistent while working towards being completely debt-free. This will always help you to increase your credit score.

Start building a portfolio

After saving enough for an emergency fund, start building your portfolio. For new and seasoned investors, the easiest way to build a portfolio is by investing in mutual funds. There are several types of mutual funds like equity mutual funds, debt funds, etc. available to investors that they can choose from according to their goals.

Track your mutual fund investments

It’s important to keep track of your investments. Manage your financial plan to ensure that it remains congruent with your current financial situation. Tracking your investments also helps you to understand if they have performed according to your expectations.

Plan for taxes
Yes, taxes are annoying but they are a part and parcel of your life and sadly your investments. They are not going anytime soon. Not planning for taxes can hamper your cash inflow in a major way. You can avail the services of a financial planner or tax accountant to ensure that your plan is tax-efficient. 

Creating a financial plan requires work and patience. Owing to the diversification offered by mutual funds, a lot of investors prefer investing in mutual funds online. Remember, this is your journey, and only yours, nobody else’s. So plan accordingly. Happy investing!

The rising cost of medical care is leading to an escalated unaffordability of treatments. Much can be attributed to the Indian healthcare market being price-sensitive and volume-driven. In an attempt to deal with the growing healthcare-related financial gap, the government launched initiatives like the National Health Protection Scheme under Ayushman Bharat. Following up on these changes, health insurance penetration is expected to go up from 34% to 50%.

Taking a cue from the escalating healthcare expenses owing to the inclusion of state-of-the-art medical technologies, individuals now opt for informed health insurance renewal options. It is ideally imperative for individuals to consider that each insurance cover caters to customised medical requirements. Accordingly, it is ideal to incorporate any modifications required during renewal.

Insurance companies offer health insurance policy renewals which are simple to understand and easier to follow up on for the benefit of customers. Nonetheless, taking into account that policy renewal presents individuals with an opportunity to bring in the required alterations in their cover, they should take into account a few pointers before renewing their health insurance in India.

https://www.youtube.com/watch?v=j0fLRSYA3KQ

Things to consider before renewing a health insurance policy

• Addition of members to a policy

During a health insurance renewal, a policyholder can include or omit family members under their availed cover. Accordingly, the necessary changes are made to existing terms of a policy.

• Check in the fine prints for alterations in policy terms

The IRDAI has mandated the communication of changes-to-be-introduced in terms and conditions of a cover to a policyholder, 3 months in advance.

Conversely, any changes that the insured wants to introduce should be notified to the regulator for approval. Considering that such health insurance covers are designed to insure an individual in cases of illness or accidents financially, it is essential that an insured readers through the fine prints before renewing one. It is vital to note terms of coverage if changed during the renewal.

Such informed decision ensures that individuals make the most of their availed cover, and mitigates chances of any discrepancy in the policy details that policyholders are not aware of. Following any such unforeseen situations, they can always opt to change their insurers.

• Change insurer if need be

In case a customer finds another insurer offering better terms of coverage than the existing insurance, they can look into the portability option when the existing policy is up for renewal. With such add-on facilities, an insured can opt to port their policy sans losing out on benefits like a no-claim bonus or waiting period. Consequently, in the case of –

• Sub-limits,
• High premium cost, or
• Minimum benefits,

– make sure to check for terms like convenient portability. Also you should consider checking whether your current insurer will be able to offer better coverage terms on renewal.

For other helpful plans, you can buy Pocket Insurance plan & Subscriptions offered by Bajaj Finserv, where you can either –

• Pay for the treatment and find the amount reimbursed later, or
• Go to a hospital within the operational network, wherein the treatment costs are covered right from the start.

With the best health insurance cover, you can avail a type of policy that best suits your requirements –

• Individual Health Insurance Plan
• Critical Illness Insurance cover
• Senior Citizen Health Insurance Policy
• Group/Employee Health Insurance Policy
• Critical Illness Health Insurance Plans
• Options to increase the sum assured

Taking into account the increasing cost of healthcare, an existing health insurance policy may not offer sufficient insurance coverage. Under such circumstances, an insured can request to increase the sum assured during health insurance renewal.

• Disclosing new medical conditions

In line with the updated IRDA 2016, insurance companies are not allowed to impose new conditions in case of disclosure about new medical conditions during the renewal of a cover. However, the company may ask for documents to substantiate a policyholder’s medical declaration.

In addition to the factors mentioned above, remember to include features like an additional coverage such as a top-up health insurance policy that comes with an affordable premium amount, floater coverage, and customised features.

Considering the boosted demand for health insurance policies, it is ideally imperative to opt for health insurance renewal to ensure continued financial security against illness or accidents. Make sure to read the terms of coverage and understand the most beneficial features.

Most people who buy life insurance do so to take care of their families. If you are young and have children, it is very important that you consider your family’s needs if you should pass away unexpectedly. Plus, if you are younger, you can buy a life policy for a far cheaper price than when you are older. That is why this type of product offers an ideal financial cushion for a young professional with young children in his or her household.

What Will Your Family Need When You Die?

When you review life insurance in Thailand, you need to consider the amount of money that needs to go to your family so they can still carry on in the same way as they did before your death. What will your family need to sustain themselves when you are gone? How much is your mortgage or house payment? You don’t want your family to sell the family home that you have put a large sum into maintaining. This is an important consideration when you are looking at life insurance packages.

Also, what will your children’s educational needs be? You also have to factor how much money to leave behind to take care of your children’s education. You don’t want them to be faced with a bleak future because you failed to plan in this respect. While you don’t like to think about buying this type of product, you still need to do so to make life easier on your family.

Do you really want to burden them financially if you should die unexpectedly? While you may not die of an age-related disease, you could get killed on the job or in an accident. Younger people tend to be less careful than older people and therefore can die in car accidents or on the job. You need to make sure that you cover any possible emergency. If you don’t make this type of decision, you can place your family in financial jeopardy.

While you don’t want to save money and not buy enough insurance, you also don’t want to purchase too much coverage. Therefore, you need to carefully consider each plan and the overall amounts you spend on living. You also have to project the amount that will be spent in the future for your children’s educational needs.

Spend Money on Only What You Need for Coverage

When you plan a budget and lay out a plan for your life insurance coverage, you can easily adjust if needed. That way, you will only spend money on what you need in this type of financial protection. Make sure that you only buy what is needed. Otherwise, if you buy too much, you could void the plan. Sit down with an insurance professional and show him or her what you spend each month on your mortgage and regular household expenses. Demonstrate to him or her why you need a specific amount or protection.

If you buy life insurance in this way, you can plan for the future and also buy products such as whole life insurance that will add to your future savings and investments. Make sure that you and your family are protected financially. Don’t negate the value of life insurance products in Thailand.

Time will come that you will notice white hair starts to grow more and more and wrinkles start to put a frown on your face. You are growing older. Your responsibilities grew bigger and your outlook on life has totally changed.

As people grow older, their outlook in life is geared towards having security that is why a lot of us want to get life insurance which is an indispensable and also a fundamental way to plan out financially.

For many years, life insurance has given a lot of people around the world the peace of mind considering that the money is always available to secure their family and their assets in different ways. If you are doubtful about getting a life insurance, maybe this post from https://www.iselect.com.au/life/ will convince you to inquire for the best life insurance you can get now.

1. Enables you to pay the final expenses– It is inevitable that you will carry the financial burdens of a funeral and burial of your loved ones or even for yourself which costs you tens of thousands of dollars in minimum, and you do not want to be caught off guard when this unfortunate event happens to your family that is why a life insurance is very important to cover this kind of problem.
2. Cover’s your children’s expenses– Parents want to make sure that their children are well taken care of and have a secure future for their education, particularly in college that is why part of a life insurance is also education which is an additional coverage that absolutely considered as an essential way for your children to have quality education and a secured future.
3. Alternative income for your spouse– In case you die unexpectedly or your spouse passed away and your children are still young, you would have needed to maintain or replace the income of your spouse or yours to keep your family secured financially and provide the much-needed financial support that is essential for their needs and their lifestyle.
4. Payment for debts– Another coverage that life insurance can provide you is to help you pay off your debts such as mortgages and loans so that you would not have to sell or declare your assets as collateral for the debt that you are paying.
5. Used to purchase shares from your business partner– In terms of business, life insurance can be used for purchasing the interest from your business partner in case the latter passed away unexpectedly. This can be done by purchasing the interest from your business partner’s heirs and pay your business partner’s share of the company’s obligations without the need to sell the company itself.

The iFOREX trading app goes well beyond providing customers with a robust trading application. The company offers a web based and mobile platform that is strait forward. Their platform is offered in several different languages. They have nearly 90-currency pairs that are traded on the iFOREX platform. Their research and trading tools are a strong point, and they provide excellent educational tools.

Investment Product

The iFOREX trading platform offers nearly 90-currency pairs, along with commodities, indices, cryptocurrencies and ETFs.The ETFs are trading in CFD format and allow traders to invest in different equity sectors including financials, technology and energy shares. Unlike other brokers in this space, iForex also offers a range of soft commodities including soybeans, wheat, corn, cocoa, coffee, and cotton.

Reliable Customer Service

iFOREX prides itself on providing top of the line customer support. One of the most important features is their remote support assistance. This allows customer support technicians to share your screen and help you with any issue immediately. Online chat is available for both new and existing clients. All clients can receive customer support and technical assistance. The company offers phone support globally.

Investment Research

The research that iFOREX offers provide insights into investment decision. The iForex research is quite comprehensive. They offer a news and analysis section that provides real-time breaking news along with fundamental and technical analysis. iForexhas an economic calendar with important macroeconomic  and monetary policy releasees that can affect markets. They offer sentiment date which provides confidence related to financial products.

Educational Portal

A good education section is important for both novice and expert traders. Topics that range from risk management to trading execution are available. The iFOREXapp educational products information for major trading products such as CFDs. There is also information about technical analysis and several videos that beginning traders which can help you get started. iFOREX also has a resource section that offers a wide variety of informative resources suitable for all investors. The articles cover many topics, from trading basics to advanced trading strategies. The trading topics that are covered range from “what is a stop loss” to “how do you trade CFDs”.

Platforms

iFOREX offers a web-based trading platform, as well as a mobile platform. The mobile app, looks a lot like the web application, and most of the functionality is similar. Each provide provides real-time market rates and execution capabilities. This allows you to seamlessly manage your risk while you are in your office or if you are on the go. Some of the key features include access to real-time balances, equity and margin details.  The charting capabilities on both platforms are robust. Additionally, you can use a demonstration account on both platforms allowing you to test drive your trading strategy before you begin to risk your capital. The demo account also allows you to fine tune your execution capabilities and learn from mistakes without losing money.

A user generally uses a credit card as a payment card. It enables the cardholder to make purchases on credit. There is a pre-set credit limit which users can utilize to make purchases effortlessly.

To put it simply, through the credit card one can borrow a loan from a bank while purchasing a certain item. A credit card is issued depending on your financial ability. If the bank finds a certain person capable of redeeming the borrowed value, then only a credit card is issued to the person.

But applying and getting an approved credit card can be a real pain. For this reason, RBL has introduced a system where the customers can check their RBL credit card application status online. RBL Bank offers a number of credit cards which hosts amazing benefits for the customers. It has a wide range of credit cards. It offers low-interest rates on loans and credit cards, thus making them quite a competition in the credit market.

Depending on your lifestyle, the amount of credit you borrow differs. Depending on customer habits, RBL provides various credit cards like Shopping card, Cashback card, Travelcard, Rewards card, Lifetime free credit cards, Business card, Lifestyle card, Entertainment card etc.

Eligibility to apply for a RBL credit card:

• Age criteria:

RBL bank sets an age limit for the customers applying for credit cards. Customers of age 21 to age 65 are eligible for credit cards. Add on, credit cards are provided to customers of age 18 or above.

• Income criteria:

This is the highlighted criteria which must be fulfilled to be eligible for a credit card from RBL Bank. The cardholder must have a regular source of income to avail RBL Bank credit cards. The income value differs from various card specifications. You can apply for your credit card by showing your fixed deposit and minimum income as set by bank specifications for the card you chose. Income requirement varies for different cards depending upon the features and conditions of your chosen card. The customer is expected to provide a proof of his regular source of income to avail the credit card from RBL bank.

• Credit history of the applicant:

The bank often asks for a credit history statement to get clear proof of how the customer manages his/her credits in the past. A good credit history without any signs of delay in payment of a debt can highly increase your chance to get a credit card.

• Nationality:

Only Indian applicants or non-residential Indians are eligible for credit card applications.

RBL asks for the following documents compulsorily for credit card application:

1. Address proof (passport, driving license, Voter ID etc)
2. Identity proof (bank statement, voter ID, Driving license, Pension book etc)
3. Income proof (Bank statement, Payslip, Income tax return)
4. PAN Card
5. Passport size photo.

There are some steps to follow if you are applying for RBL credit cards.

For new customers:

• Visit the ‘credit cards’ web page of RBL Bank official website.
• Enter your personal information and contact details.
• After the procedures of verification, a representative from the bank will contact you and guide you through the entire process of issuing credit cards.
• Submit your Know Your Customer (KYC) documents and income proof to avail an RBL Bank credit card.

Or just visit the nearest RBL Bank branch to apply for credit cards of your priority.

For existing customers:

• Visit the web page ‘Credit Cards’ on the official RBL Bank website.
• Enter your net banking customer ID along with your phone number.
• Directly apply online for credit cards.

RBL credit cards offer amazing interest rates and free credit period up to 50 days. Getting a credit card can ease your lifestyle.

If you have already applied for an RBL credit card, then you can know how to check RBL credit card application status here.

Mumbai, the commercial capital of India, is regarded as the most expensive metropolis for Indian immigrants. According to a survey conducted by Mercer, the city of dreams ranks 55^th in the list of the costliest cities in the world.

In the past few decades, Mumbai has seen a rapid increase in inflation due to which sustaining life here and facing unforeseen needs has become a challenge for middle-class people.

However, with a personal loan in Mumbai, it is easy to manage all your emergency expenditures.

An instant personal loan in Mumbai will help you to handle any shortcomings that you face while purchasing a vehicle, a home, for the education of your child or for any other unforeseen medical emergency, and much more.

Let us now look at why a personal loan is an ideal option to benefit the salaried middle-class living in Mumbai.

What do you mean by a personal loan?

A personal loan is an unsecured loan than you can obtain from a bank or NBFCs to fulfill your financial goals.

The Credit Bureau sanctions the loan only after considering factors like your salary, employment history, credit profile, repayment capability, etc. The creditor won’t ask you for any collateral like cash, property, or shares for security purposes.

The greatest benefit of a personal loan is that you will get a comparatively low rate of interest than home loans or car loans.

How will a personal loan help me?

As a salaried middle-class individual who is struggling to live a happy life in a city like Mumbai, you should apply for a personal loan due to the following reasons: –

• It will help you repay your debts-

A personal loan can help you repay your old arrears and efficiently manage various accounts without any hassle or stress.

• Paying off your credits becomes easy-

One of the biggest advantages of a personal loan is that you can easily repay your credits at a low rate of interest. As a result, you will be able to clear your dues in a short period.

• Home remodeling-

If you wish to get your home renovated, then a personal loan is a perfect choice for you to pay for the remodeling costs.

• Catering to unforeseen medical emergencies-

Medical emergencies is the most common reason for middle-class people to opt for a personal loan. You can easily finance surgeries, operations, medication, and aftercare expenses with the help of a personal loan.

• Purchasing a car or a house-

The property rates in Mumbai are generally very high, due to which affording a house here becomes almost impossible for the middle-class population. However, a personal loan can assist you in covering your huge expenditures like buying a car or a house.

• Paying for Wedding expenses-

A personal loan can be used to pay for various wedding expenses like the venue, decorations, bridal dress, pre-wedding photo shoots, wedding planners, etc.

What are the features of a personal loan in Mumbai?

There are variety of features associated with a personal loan in Mumbai such as: –

• The loan has a short period.
• No complex paperwork is involved.
• It can also be processed online
• The loan can be used for various purposes.
• You can conveniently repay a personal loan.

Therefore, a personal loan is a boon for middle-class people to get instant financing for managing any kind of unforeseen exigencies. It is currently the most-promoted and easy to use credit product in the financial sector.

As India is gradually moving towards a more digitised economy, your Aadhaar number gains significant importance. A unique 12-digit identification number – Aadhaar number is provided through the initiative of the Indian Government.

Today, it has become a critical document used for almost every public services present in India. Hence, with the increasing number of services getting linked to Aadhaar, UIDAI has introduced a mAadhaar online application that acts as a digital copy of your original Aadhaar card. Targeting the humongous Android user base in India, mAadhaar app is currently available on the Google Play store.

What mAadhaar app has to offer?

The benefits of mAadhaar app are numerous like –

1. Seamless synchronisation

This online facility allows you to sync your Aadhaar data with the mobile application. Thereby, it makes it easier for users to carry their Aadhaar information anywhere, anytime in their mobile devices.

1. Biometric protection

The app comes with a useful feature of locking and unlocking of biometric data. Once you havemAadhaar app and activate the biometric locking system, your biometrics will remain locked till you open it.

1. TOTP generation

Instead of generating an OTP, this app creates a Time-based OTP (TOTP) which provides short-lived OTP value. This proves beneficial in providing users with enhanced security. After registering the update request, you can view your Aadhaar details by downloading the data from UIDAI.

1. Easy data sharing

Among other benefits, sharing your updated Aadhaar information using a QR code is the most innovative approach. It helps you share your eKYC documents with the service providers.

1. Multiple profile options

This mobile application also allows you to store a maximum of 3 profiles provided the registered mobile number is the same for all.

The benefits of mAadhaar app don’t stop here. With ‘Aadhaar in your pocket’ – you can benefit from numerous financial subsidies and services. For instance, if you’re facing a financial crunch, you can avail a personal loan with the help of your Aadhaar details and other nominal documents. Such loans are available from NBFCs like Bajaj Finserv and can help you fund your short-term requirements like –

• Business-related expenses.
• Bear emergency medical expenses.
• Pay for your child’s education.
• Bear your family member’s wedding expenses, medical expenditures, etc.

Furthermore, you’d benefit fromindustry-first features such as:

• Attractive interest rates.
• Flexible repayment tenor.
• Instant loan approval and quick disbursal.

However, you must check personal loan eligibility and documents required before applying for one.

How to get mAadhaar?

First, download mAadhaar app from the Google Play store and follow the instructions below –

1. Once the app is downloaded, it will redirect you to an interface which asks for your Aadhaar number.
2. Initially, the app sends you a TOTP to your registered mobile number. However, you may also scan the QR code on your Aadhaar card.
3. Then the app will initiate a validation process to check the user’s identity. It might also ask for a few permissions to avoid any loopholes that could result in a security breach.
4. After the verification is completed, you’ll be asked to set a new password for your profile.

Then the app will redirect you to your home screen where you can see your Aadhaar card details.

The mAadhaar online app will go a long way into catapulting India towards a digital economy. It will significantly help in improving the efficiency of public distribution systems, reduce corruption and curtail black money.