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Breaking Stereotypes: The Future Of Finance And Tech Is (And Will Be) Women

Work culture in organizations is gradually moving towards diversification and inclusion. The current times are witnessing gender stereotypes bring identified and shattered in the wake of gender sensitization and diversity. Organizations across the globe are making concerted efforts towards the goal of equality of opportunity. Still, equality at workplaces is a far fetched dream. Take for instance the case of the US, where: 

Yet they earn lower salaries and fill up fewer seats in male-dominated professions like technology and finance. Fortunately, these stereotypes – those of women typically avoiding math, science and often all things logic – are on the verge of shattering.

A study conducted by the global research organization Catalyst stated that among Fortune 500 companies, the companies which had the highest number of women directors on board have shown better financial results and those having at least three women on their board have stronger-than-average results.

Gender Stereotyping deeply impacts the psyche and confidence of the female workforce. As per research, by the age of 6 years stereotypes regarding intellectual ability take root in girls. Girls identify themselves less with STEM subjects (Science, Technology, Engineering, and Mathematics). At the workplace, women find a less conducive environment to hold leadership and skill-based jobs, share their ideas in discussions concerning these subjects. 

Indian Scenario: Tech

The current Indian scene has begun a positive, and hopefully soon – pretty picture: 

  • Women representation in corporate jobs has increased from 21% to 30% in a span of five years, as posted in  Zinnov-Intel Gender Diversity Study 2019
  • Females are represented higher in non-technical roles at 31%, while in technical roles their share is 26%. 
  • Only 11% of the C-suite positions are held by the women, they were represented at  20% in mid-roles and 38% in junior roles. 
Women's Day

If these stats are compared with the global figures, Indians are surely taking strides in leaps and bounds to cut across cultural misfits and gender Stereotyping issues. As per a NASSCOM study of IT professionals and middle management from companies of Europe and India, 35% of the people with specialist technology roles are women in India as compared to a mere 17% female representation in Europe. 

Several organizations like Oxfam India through its campaign Bano Nayi Soch are all in for progressive ideas that subvert the norms of patriarchy.   

In 2016, Facebook initiated recruitment practices focused on bringing in black and female workers into their workforce – in who now make up 36% of its workforce. Sheryl Sandberg, COO of Facebook and the only woman on their board posits the concept of ‘leaning in’ in her recent book as the idea of being ambitious in any pursuit.  

Kiran Mazumdar Shaw, the CEO of Biocon and the first woman billionaire entrepreneur, reiterates that there is no dearth of talent in meritorious women and even though a small minority, they are well respected and worthy of inclusion. 

Indian scene: Finance

Women are considered excellent investors, but female representation in the finance sector remains meager. A CFA Institute Gender in Investment Management study shows a mere 11% representation of women investment professionals in the industry.  Research across the globe has proved how a culturally rich and diverse workforce delivers optimum results and lower risks for investors. Experts cite several pros of getting the women included in the workforce. 

  • Firstly, female inclusion will tend to bring in newer perspectives into the industry that can usher in a new revolution in the industry. Quality of output and decisions will definitely see improvements. 
  • Gender diversity can lead to innovations and rethinking of the old investment strategies that are sure to impact investment outcomes. 

Several initiatives have been taken to improve the involvement of the females at all levels. For instance, Young Women in Investment, India’s first initiative seeks to create female awareness and interest in the investment management industry. The initiative focuses on presenting investment as a long term viable career option to the women. The success and support of this initiative have definitely paved the way for the inclusion of females in the future of finance. 

Initiatives to Break Stereotypes

While we’re doing well, there can be several initiatives that can make the future of tech and finance into a substantial female-centric arena: 

  • Tech can be leveraged to advance gender parity and women empowerment in a number of ways. The development of the gig economy is offering a contingent workforce that is sure to lessen such gaps in the future. 
  • Unlearning the biases in our mindset and doing away with gender stereotypes will be a daunting task that would demand our attention towards sustainable and all-inclusive economic growth. 
  • A survey conducted by Unilever showed that 77% of men and 55% of women felt that men are best suited for high-stake projects. Such views deeply impact gender parity issues. Marketers and media need to stop the sexist portrayal of women. 
  • Social, political and cultural fronts should take it upon themselves to curb these formative practices of stereotyping and expose both the genders to all kinds of non-traditional fields like tech or finance to let them make their decisions rationally. 
  • There is a dire need to bridge the skill gap among women by taking advantage of digitization and tech innovations. The global “talent shortage” is currently at 38%, with the top ten hardest jobs to fill in STEM professions. The focus has to shift to building competencies and skillsets among women. 
  • Another key area of concern is the online representation of women. There are 250 million fewer females present online as compared to males. Connecting and bringing greater access to regions with no internet can bring about unforeseen opportunities and can even act as catalysts synthesizing women’s inclusion in tech and finance. 

The instilling of the right temperament among the youth holds prime importance as the majority of them make their career choices by the age of 26 as per a survey. Women do not lack in tech or finance skills and knowledge, what they lack is the proper nurturing environment enabling them to fulfill their dreams sans any bias or stereotyping. Once the institutions of today get in sync with gender equality and diversity themes, the potential and opportunities awaiting women in tech and finance can be attained.
And we can surely hope for a feminine era in finance and technology awaiting us in the near future. 

“You are fierce, bold and daring! Also, the best when it comes to caring.”
Happy Women’s Day!

Featured

Spouse In The Same Office: A Closer Look At The Implications for HR

Compiled By: Sandeep Raghunath
About Sandeep: He is the Head of Human Resources at EarlySalary, with 10+ years of international experience in HR across industries.

It is perfectly natural for a professional to fall for another if they’re working in the same office, or are spending a significant amount of time together. Open and vulnerable conversations are fairly likely to occur, and the more familiar they become with each other, the more potential there is for mutual attraction. While they may be frowned upon, relationships within an office setting are far from uncommon. Some partners even often end up getting married. 

In this context, however, the HR function isn’t expected to remain out of the loop. Organizational policies, cultural sensitivities, etc – there are many factors influencing the HR functions’ role in managing professionals with a spouse in the same office. How can they approach this? Let’s look at some important aspects.

Disclosure of relationship

It is vital to maintain an environment where it is known that keeping a relationship or marriage secret is not in the interest of the company and can have larger implications. According to Sarah Churchman, head of diversity and inclusion and employee well being at PwC, the only way to manage relationships is for the couple to be totally out in the open. “If they don’t inform us, someone else in the department will. Not because they are necessarily behaving in an inappropriate manner, but simply because they may fear a problem with favoritism.”

Some enterprises have a policy in place allowing for managers to be demoted, transferred or even dismissed in the case of the manager being in a relationship with their direct report without disclosing the same. It is, therefore, essential that an office couple is made to sign out a disclosure form with the HR Department. This allows for a line of communication between the office and the parties involved and also serves as a formal notice of their relationship. It also prevents misinformation and rumor-mongering in the workspace which hampers productivity. 

Different organizations have varying HR policies on how they deal with a spouse at the same office. If a company is strictly against work relationships, one of the spouses can be dismissed, though it would not be a popular move and discourage transparency. “You can’t legislate against office romances or indeed falling in love, and an outright ban would be totally unworkable,” says Churchman.

It is imperative for a company to have a policy on office relationships and furthermore ensure that all employees, especially spouses, get familiar with these and abide by them at all times during work hours. This includes coffee breaks, lunch breaks, business trips, etc.

Personal life and Professional life

The need to maintain a professional relationship between spouses in the same office space is vital. Often, the hardest battle in managing office relationships is inculcating the need to strike a balance between personal life and professional life. According to a research “on flirting at work” conducted by Amy Nicole Baker, an associate professor of psychology in University of New Haven, and an author on workplace romance papers, it was found that people who frequently witness other colleagues flirting often feel less valued by the company and have a decline in job satisfaction. This feeling of discomfort can also lead to many quitting their jobs. In order to prevent others from being uncomfortable and thus putting oneself under the radar. 

Spouse In The Same Office: A Closer Look At The Implications for HR
“Open and vulnerable conversations are fairly likely to occur, and the more familiar they become with each other, the more potential there is for mutual attraction”

Public displays of affection and flirtatious conversations can disrupt the working of the office and reek of unprofessionalism. It is essential to treat your spouse like a regular colleague within office hours and even in work parties, off-sites and other such events which are an extension to the office workspace.

Senior-Junior Relationship

In the case of a senior and subordinate getting married, the need for professionalism is critical in order to prevent conflict of interest. According to most office guidelines – it is necessary for the senior spouse not to be involved in the appraisal or evaluation of their partner. The two must not work together in the same department in order to curb the space for favoritism and nepotism within the workspace. There is also a potential threat to the security of confidential client information and the risk of information leaks.

To avoid the occurrence of favoritism, one spouse should be transferred to another department, and ideally, no couples should work together in the same department.

Divorce

The unfortunate scenario of a married couple splitting up can have deep repercussions on their work ethic, their behavior in the office as well as the office environment itself. The disclosure form should specify what would happen to both the parties in case of this occurrence. The way two ex-partners are treated in the office also deserves attention. They might act in a more isolated nature and may be unable to maintain good performance. This situation is a nursing ground for potential blame-game and office politics. This difficult period of the employees’ life should be battled with care and acceptance. They might not need advice and might need someone to listen to them in order to clear their mind and concentrate during work hours. In case of poor performance, they should be nudged towards the direction of working better and given gentle reminders instead of indifferent statements like “Your divorce is not our problem.”
Perhaps an Employee Assistance Program to help deal with such traumatic instances is worthy of consideration from employers.

Featured

Can Millennial Stress be Resolved by Financial Wellness?

Stress is an issue bigger than ever for millennials, who are rushing ahead with their worklife, finding little time to enjoy the intricacies of life. They are not only toiling themselves with projects, preparing reports and meeting targets, but also when off the work they busy themselves worrying about their debt, savings and expenditure.  India has been, off late, a very volatile economy with companies shutting down production and filtering out chunks of employees. As such millennials are forcing themselves to work in return for poorly paid salaries and unsatisfactory job environments. In most of the cases, they are not able to manage their day-to-day expenses and have to revert to debt; while in other cases are confused about their financial course.

A whopping 76% of Millennials say they are experiencing financial stress, up 23 percentage points from 2018, according to the PwC 2019 Employee Financial Wellness Survey.

Financial stress is the top contributor in affecting employee health and morale followed by their jobs and relationships. Matching your salary with your expenses is only the tip of the iceberg, when cash flow and debt issues add to the worries. Employees are worried that they are not able to save enough and will face or are facing a financial crunch. Let’s look at the major issues hounding today’s millennials in terms of finance:

Past concerns  

With higher education becoming more expensive each year, an increasing number of new employees enter the corporate sector already laden with the burden of huge debt in the form of education loans or personal loans. As per Workplace benefits report 2017, 40% of millennials say that they left high school and college unprepared for the real world. As such they look upon their employers for the necessary guidance and help related to a majority of topics around financial wellness. 18% of millennials want more help with their student loans.

In some cases, these debts may be gifted down from one generation to another. A son may have to pay off a home loan or some other debt incurred by his father. These circumstances dilute the finances and millennials find it difficult to lay away the stress.

Present concerns

According to the 2017 Workplace Benefits Report, a significant number of Millennials say they feel unprepared to manage their finances and need help with topics across the financial wellness spectrum, including saving for retirement (43 percent), general savings help (40 percent), paying down or managing debt (34 percent), saving for major expenses (36 percent) and budgeting (31 percent). 

Peer pressure, maintaining the status quo and lavish lifestyles often lead millennials to the brink of a financial crisis if they do not plan their finances well in advance. Many are highly ignorant about how to proceed with investments; banks or mutual funds, long term or short term, commodity or shares, and a lot more. About 43% feel that they require more help with investing, 40% wanting more information on how to save taxes and 21% feel that they want to save more. It’s an additional issue when they require funds in a lump sum for unforeseen expenditure or a major purchase. They either trap themselves in instalments or else fall in a debt trap. 63% of Millennials consistently carry balances on their credit cards and two out of five have trouble making minimum monthly credit card payments.

Future Concerns

Besides provident fund schemes, gratuity and a few other benefits, employees aren’t assured adequately about their future. They remain concerned about their retirement and pension, their children’s education, medical expenses and a lot more. Pension schemes are offered by insurance firms, but which one is best suited remains a matter of concern. Career opportunities and growth also impact future and present decision making. Not surprising then that employees, especially millennials, find themselves to be dependent on their employers.

Why should employers take up financial wellness programmes?

Financial stress not only impacts an employee on a personal level, but his working capabilities and mental faculties get impacted too. Stress can be behind severe health concerns that may lead to employee absenteeism, employee turnover, and dissatisfaction. The issue of financial health becomes of utmost importance to keep the solubility of the firm intact on one hand and to achieve common organisational goals on the other. As per a survey, an employee spends 12 hours on an average each month stressing about their finances. 

Bank of America Merrill Lynch report says that the lack of confidence in financial matters affects Millennials’ workplace behavior. On average, employees spend 3 work hours each week (12 hours per month) dealing with financial stressors.

A well thought of and structured wellness programme may act as a tonic for the employees’ financial health:

#1 Making an in depth study of employee concerns before finalising on the mode the financial programme is critical. Not everyone shares the same crisis, and not everyone will desire third party approvals or advice before taking decisions. A financial assessment is essential before you initiate the program and want it to succeed. This can be an eyeopener for those employees who may have been unaware of the causes of their financial stress and will make them ready to adopt the new financial course.

#2 Educating employees about financial health and other resources should be taken care of as well. This can be one through seminars, online courses, or even lectures and classes conducted by an expert or professional.

#3 The employees must be educated on healthcare costs as well. It doesn’t hurt to take this opportunity to promote healthier lifestyles as well. This can save them a lot in the long run. Group insurance schemes and health insurance schemes should be encouraged as a norm in the organisation.

#4 Financial debt management, especially the management of student loans, is another area of focus. Employers, if possible, could even consider taking it upon themselves to sort out the education loan or debt of the employees as a gesture of goodwill. This can be offered as an employee benefit as well. Executed right, the company can go a long way in earning the reputation of being the best in class when it comes to their employees’ welfare.

#5 Then comes the basic question of managing the current expenses such as installments, deductibles, premiums and other expenses. There are several paradigms involved in financial planning and it can be overwhelming for a millennial who has just been placed on his job.

Encouraging employees to take part in these programmes and letting them get involved through participation, and one on one discussion will assist them in reducing their financial stress. The overall focus of the employee can shift to organisational task boosting his productivity and overall efficiency. At the individual level, it will boost their confidence to manage their current expenses and plan for their future expenses in advance. Financial wellness programmes can, therefore, help in improving employee health and quality of life. A healthy and financially sound human resource can be an unending source of profitability and efficiency for any enterprise.

Understanding Employee Engagement: The Psychology at Work

Highlight: Employee engagement is defined as “an individual employee’s cognitive, emotional, and behavioral state directed toward desirable organisational objectives.”

Employee performance is a crucial component of total organisational performance in high-performing organisations; thus, it must be managed. Employee engagement is one of the most important factors in promoting high levels of employee performance. HR departments can utilise employee engagement strategies to improve employee well-being and productivity at all levels of the organisation as it encourages all personnel of an organisation to put their best foot forward daily using various measurements, projects, and techniques.

Employee engagement also ensures that each employee is completely dedicated to the company’s vision, goals, and values and that they are encouraged and motivated to contribute to the organisation’s overall success. Employee engagement definitions vary significantly among businesses, based on what is proper and best for their workforce. Engagement, according to Dell Inc. is, “to compete today, companies need to win over the MINDS (rational commitment) and the HEARTS (emotional commitment) of employees in ways that lead to the extraordinary effort.”

Also read: How Do You Build Successful Work Teams?

Psychological aspects

Employee engagement has been intertwined with concepts from work psychology since its start. In psychology, employee engagement is defined as “an individual employee’s cognitive, emotional, and behavioral state directed toward desirable organisational objectives.” Argyris used the phrase “psychological contract” in the early 1960s to refer to employees’ impressions of the employment arrangement. The idea that promises are being kept strengthens commitment and intention to stay with the company. Individuals’ ideas about the terms and conditions of the bilateral agreement between themselves and their organisations comprise psychological contracts. Psychological contracts form when individuals think that their organisation has pledged to give them certain incentives in exchange for their efforts to the organisation.

To explore how people hold job roles, psychologist William Kahn drew on the research of labor roles and organisational socialisation. He used “personal engagement” and “personal disengagement” to describe two opposite spectrum extremes. At the “personal engagement” end, individuals occupy themselves—physically, mentally, and emotionally—in their job position. In contrast, they uncouple and withdraw from the role at the end of the “personal disengagement” stage. What can be done to avoid this?

Organisations can enhance employee loyalty and engagement by understanding psychological factors. Social cohesiveness, feeling supported by one’s supervisor, information sharing, similar objectives and vision, communication, and trust can all impact engagement and productivity. 

The advantages to employees and organisations are enormous when

  • Individual employees’ goals and objectives are aligned with those of the organisations for which they work
  • They have faith in the organisation’s leaders to chart the right course
  • They believe the organisation will be successful in the future
  • They receive adequate support and resources to achieve their objectives
  • They are more likely to have excellent connections, more positive attitudes, intentions, and behaviors, and better levels of work satisfaction
  • They believe in what they and their organisations are doing

Also read: The Finance Behind High Employee Engagement

How does an engaged workforce affect the company? 

According to a Dale Carnegie research published in 2017, “Only 26% of executives surveyed believe [employee engagement] is a very significant element of what they think about, prepare for, and do daily. Another 42% claim they work on it regularly, with the remainder working on it relatively infrequently, if at all “Never, ever.” 

Source 

Low engagement can be caused by a variety of causes, including a lack of acknowledgment by management, poor business communication, and a lack of alignment with the firm’s goal. Employee engagement should be viewed as a strategic business goal by corporate executives since engaged employees contribute to long-term employee retention, greater productivity levels, and enhanced job quality.

HR should lead the way in designing, assessing, and evaluating proactive workplace policies and practices that help recruit and retain personnel with the skills and competencies required for growth and sustainability to promote a culture of engagement. Employer activities such as job and task design, recruiting, selection, training, pay, performance management, and career development kick off the process.

Such approaches have an impact on employee engagement as well as work performance. Then, performance and engagement combine to generate business outcomes. Your business must invest in human resource strategies to engage workers and profit from that involvement. However, as with any other investment, you must evaluate future return—that is, you must commit money to the HR practices that you feel will provide the best results.

Employee Engagement: The TLDR Version

To summarise 

  • Employee engagement focuses on being psychologically present in the events that will lead to participation and commitment to the job. It entails immersing oneself in job responsibilities, people, situations, etc.
  • Employees that are engaged are seen to be passionate and to put in extra effort at work. They continuously demonstrate creativity and commitment.

Employee engagement and commitment can translate into significantly beneficial business results for an enterprise. Common human resource processes like recruiting, training, performance management, and employee surveys can be strong engagement levers. Organisations define employee engagement and measure it in several ways, implying that no one “right” or “best” approach exists to define or drive engagement in your workforce. As a result, while choosing whether HR practices would match your organisation’s goal, it is critical to examine your own organisation’s vision of involvement, as well as its strategy and workforce structure.

Do Online Courses Help In Getting Jobs?

Highlight: Online courses have proved to be an accessible and affordable means of education that may help you land your dream job. Here’s how.

While it cannot be refuted that the COVID 19 pandemic brought our lives to almost a  standstill and we had to adjust to the remote working and remote learning model, it also gave us some break from our routine life and gave us an opportunity to re-evaluate our future plans. 

Whether you are a student or a working professional, the lockdown from the pandemic presented all of us with a golden opportunity to upskill for a brighter future. One of the best ways to do this is by joining an online course. 

Online courses have gained a lot of popularity in the recent past for being an easily accessible and affordable means of education. With physical teaching not being possible during the COVID 19, the online courses presented a unique opportunity to everyone for acquiring new skills and amassing knowledge while comfortably sitting at your own home. In a survey conducted by Coursera upon people undertaking online courses, it was found that as many as 72% of the total people saw a significant career growth and 26 percent of the students landed a new job owing to these skills. 

So, whether you are a fresher and want to pad up your resume for getting into the workforce or you are already in a job and are looking for a better job opportunity, here is how doing an online course will help you land your dream job: 

  • They are flexible and can be self-paced 

These online courses can be done anywhere in the world- you now have the opportunity to do online courses from universities like Harvard and Stanford, without having to actually go there. 

In addition to that, if your work schedule is unpredictable, you can pace the course as per your own requirement- as opposed to classroom teaching, these courses let you do the classes at your convenience so that you don’t have to juggle between your work/college and the course. 

  • They are not as expensive as physical courses 

Most courses, even the ones by reputed universities, are either free or available at a very low fee. This is done to ensure that access to quality education is not hindered by either financial or spatial constraints. 

  • You can build an area of specialisation or upskill

The Indian education system may not give you an opportunity to build a specialisation in a niche area, especially the ones which have recently cropped up. For instance, most law schools in India do not include laws relating to blockchain and cryptocurrency as a part of their general curriculum. So, if you want to build a specialisation in such up-and-coming fields, your best choice is to take up an online course in the area of your choice. 

Not just this, if there is an area that you may be interested in but is not aligned with your current job requirements, you can learn about the same through online courses, and on the basis of that, you can diversify your work profile to make your chances of professional growth better. 

  • Shows initiative and potential for self-learning 

An initiative for self-learning through opting for additional online courses may go a long way in making a good impression on your prospective employers. Such additional qualifications give you an edge over the other candidates and exhibit various qualities in you to the employer like that of being an enterpriser and showing initiative. It sets you apart from the crowd and increases your chances of landing your dream job.  

So, doing the right kind of online courses can really be the final push you need to land your dream job. 

However, given the financial situation prevailing at the current time, it is understandable that not everyone may have the financial capacity to be able to afford online courses as per their choice. The first solution that may come to anyone’s mind is taking an education loan. However, that might not be a viable idea as that is not available for most online courses and even if it is, it is with a very high rate of interest. 

That still doesn’t mean that all is lost and that you should let go of this once-in-a-lifetime opportunity. The solution is very simple: EarlySalary’s Personal loan. We offer you an instant and hassle-free personal loan for education with such a low rate of interest that you would not have to think twice to take the money and make your dream job a reality. 

So, get started on the EarlySalary experience now!
Happy Learning!

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Alert! Keep Your Account Safe From Online KYC Scam

Highlight: Learn about the recent KYC scams, as well as SBI’s three mantras for keeping your account secure.

KYC (Know Your Customer) refers to the process of verifying all customers’ and clients’ identities and addresses by banks, insurance companies, and other institutions before or during transactions with their customers. KYC has been made mandatory by the Reserve Bank of India (RBI) for all banks, financial institutions, and digital payment companies that conduct financial transactions.

KYC for banks

KYC completion and updates vary from account to account frequently, depending on the bank’s risk perception. As a result, KYC becomes critical when performing transactions such as opening bank accounts, investing in fixed deposits, recurring deposits, mutual fund accounts, and making online investments.

KYC has become critical because it allows banks to ensure that the application received and all other details are from a legitimate customer. Banks can easily predict and prevent fraud by ensuring an individual’s identity.

KYC fraud

Since the outbreak of the novel coronavirus pandemic, online fraud has increased in the country, owing to increased digital payments via mobile wallets, UPI, and other platforms and increased internet/mobile banking usage.

In the midst of an increase in Know Your Customer (KYC) deception, India’s largest lender, State Bank of India (SBI), has warned its customers of increased online fraud. In a statement, the bank stated that KYC fraud is real and has spread across the country.

SBI issued a warning to its customers via its official Twitter account, stating that there have been cases of fraudsters duping people with KYC verification.

KYC fraud is real, and it has proliferated across the country. The fraudster sends a text message pretending to be a bank/company representative to get your personal details,” tweeted SBI.

During the second wave of the Covid-19 pandemic, the bank recently allowed customers to update their KYC via mail or post. Customers were having difficulty completing their formalities due to the novel coronavirus, so this decision was made.

Customers can protect their accounts by following three safety tips provided by SBI:

  • Think before you click any link: Customers must exercise extreme caution before clicking any link, especially if they receive a message stating that failing to click it will suspend their account.
  • The bank never sends links to update KYC: According to the bank, it never sends any links to customers to update their KYC. As a result, there is a possibility that fraudsters will pose as bank representatives and dupe people.
  • Don’t give out your phone number or any confidential information to anyone: SBI has warned its customers not to share their mobile numbers or other confidential data with any third party.

This is not the first time the bank has tweeted about safety precautions. It has regularly communicated to its customers that they should never share their OTP, CVV, or ATM PIN with anyone, including bank officials. SBI has also advised its customers not to download any mobile apps based on the advice or tips of unknown individuals. Messages containing OTP/PIN/CVV can be read or tapped even from a remote location.

Reporting KYC fraud

The State Bank of India has warned its customers to immediately report any unauthorized or suspicious bank transactions in their accounts. Any unauthorized transaction in your bank account can be reported by calling the toll-free customer service numbers 18004253800 and 1800112211.

You can file a complaint with the National Cyber Crime Reporting Portal, a government initiative to combat cybercrime against women and children. You must provide accurate information when filing your complaint so that action can be taken as soon as possible.

Conclusion

There has been an increase in robust digital payments infrastructure with UPI at its core in recent years. The Covid pandemic also highlighted the significance of digital payment. It resulted in a significant shift in consumer behavior, forcing them to adapt to digital transactions

However, the convenience that digital transactions provide has its drawbacks. Fraudsters and scammers with a strong understanding of social engineering techniques have used KYC procedures to steal people’s hard-earned money. They primarily target people who are unfamiliar with these technologies. Therefore, it is critical to protect yourself from these KYC scams in order to protect your finances.

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Buy Now Pay Later| Upgrade Your Wardrobe According To The Trend With EarlySalary

Highlight: Here are some fashion trends popular in 2021 that you should try to upgrade your wardrobe and pay off later with EarlySalary’s personal loan.

The best fashion trends are those that feel comfortable to wear while still appearing to have made just enough effort to do whatever you do during these strange, strange days and nights. Whether it’s daily Zoom meetings and a few necessary errands, the occasional outdoor dinner, weekend park outings, or in-person work, we could all benefit from clothing that makes us feel at ease and comfortable.

We’re all guilty of making poor wardrobe decisions, from hanging on to old clothes that never get worn to panic buying items that won’t get more than one outing. But this does not have to be the case.

Here, we break down some wardrobe resolutions to make right now so you can make space and look your best.

Tractor-inspired boots

From Balenciaga to Zara, it appears that every designer and retailer is taking cues from the humble tractor boot, which had a massive surge in  2021 and will only become more widespread next year. It’s a current fashion trend with an almost comically rounded toe and a thick, rugged sole that looks equally at home under a long dress or a super-short skirt as it does with slouchy sweatpants or leggings. Consider this one of the current fashion trends that is worthwhile to invest in.

Fashion trends

Candy-colored sweatpants

Few things can replace your favorite pair of worn-in heather grey and black sweatpants, but demand for sweatpants in a variety of colors, including pastels and juicy bolds, was high this year, a year defined by couch clothing. It’s probably because, once we felt comfortable enough to step outside again, our commitment to comfort didn’t waver, but we still wanted to shop for and wear items that were a little more fun than what typical colored sweatpants imply.

Fashion trends

Shackets

Brushed plaid “shackets” are a hybrid of a shirt and a jacket and are one of the current fashion trends that can be worn anywhere, at any time. They’re heavier than a flannel shirt but not as bulky as a full-on coat, making them ideal for running. They also go well with almost everything you already own, from sweatpants to turtlenecks.

Boiler suits

This one-and-done hero piece has appeared on the runway as well as in your favorite affordable stores this year. It’s simple, cool, and takes the stress out of choosing pants and a shirt because we all have enough on our minds right now. Pro tip: For a more seasonal look, layer a turtleneck underneath.

Tiger print

Tiger stripes appear on everything this year, from cozy knit sweaters and boxy overcoats to prim blouses and dresses for when you need a break from sweatshirts and elastic waists.

Trench coat

A classic trench coat is the ultimate between-seasons outerwear. There hasn’t been a fashion season that hasn’t seen the trench make an appearance, and the most recent shows were no exception.

With its perennially stylish military cut, the trench coat has been a fashion staple since the First World War. The Gabardine fabric also makes the casual trench ideal for rainy days.

Mesh shirts

Mesh tops have taken over the fashion world in 2021. This style, known as the ‘second-skin’ trend, grazes on your body so much that it may as well be a second layer of skin.

No matter the season, the fashion trend is a wardrobe must-have. There are numerous ways to style sheer blouses, sheer shirts, and sheer underlays.

Getting a shopping loan

Shopping is closely associated with positive emotions in us. We always remember the important things to buy while window shopping. You may occasionally run out of funds to replace your old appliances. A personal loan for shopping is a great help in enabling you to buy whatever you want right now while paying off your debts later. The most valued services provided to a customer are instant loan disbursement and getting your loan approved as soon as possible. This has made things easier than they were previously.

Our bank account may not support us, but EarlySalary will – with no-cost EMI options to make our purchase easier and faster. We don’t have to put off saving any longer. 

EarlySalary, in collaboration with the country’s leading online retailers – Amazon and Flipkart – brings affordable shopping to your smartphone. Your loan amount is available for use directly through your Amazon Pay account or Flipkart wallet. In addition, as an EarlySalary customer, you will receive exclusive discounts during sales. Furthermore, the usual benefits apply, including no paperwork, a pay-as-you-use policy, and flexible repayments in 3 to 6 EMIs.

You can read about the tips and tricks to get an instant personal loan before applying for one.

Happy Shopping with EarlySalary experience now!

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Alert! Personal Loan Scams: You Can Be The Next Target

Highlight: As the instances of availing of personal loans have considerably increased, so have the personal loan scams. Here’s how to keep yourself safe from it.

With the advancement in the fintech sector in the recent past, availing of a personal loan has become as easy as probably online shopping. In today’s time, a person can even avail of a personal loan online, sitting comfortably at home, with next to no formalities or paperwork through platforms like EarlySalary

This option seemed godsent especially during the time where the entire world was battling the COVID 19 pandemic. On one hand, the income sources of many individuals dwindled, as there were several salary cuts and even layoffs, and on the other hand, several contingent expenses, such as the ones related to health issues or even for facilitating work from home, kept cropping up. To top it off, it was next to impossible to go to a bank physically and apply ( and complete the tedious process) for the loan. 

While the easy availability of personal loans has been quite the savior for many, especially during the COVID 19 Pandemic (as discussed above), all is not well in this regard. As the instances of availing personal loans have considerably increased during the COVID times, so have the instances of personal loan scams. In fact, within the past year, (up till March 2021), as many as 45,613 cases of loan fraud were reported which amounts to roughly Rs 4.92 trillion, revealed RBI as a response to a recent RTI application filed

Here is what you can keep in mind to not fall prey to such personal loan scams: 

  • Keep an eye out for online phishing 

While new and new NBFCs are coming to the market which are offering personal loans at just a click, it becomes difficult to know whether these websites and apps are genuine or not. 

The first and the most easily identifiable red flag is if the lender website does not have an ‘s’ after the ‘HTTP’ which means that the website may not be secure for online transactions. Such websites may use your personal information and which possibly can be the genesis of a personal loan scam. 

  •  The demand of an upfront cost or loan fee/charges 

While it is pretty standard to charge a processing fee for any personal loan being advanced, most lenders would either deduct it from the loan amount or adjust it within the repayment. If the lender is asking you to deposit any money upfront pre-approval or post-approval, before the disbursement of the loan, it may mean that they may misappropriate the money and may involve a personal loan scam. 

  • Urgent calls for a loan or limited period offers 

Getting a loan is not like buying a gadget online, there can not be ‘flash sales’ or ‘limited period offers’. Loans are directly linked to your credit history and if your lender is pushing you to make an urgent call on your loan, chances are that they may be pushing you to make a rash decision. Do not fall for such antics and make sure to do your due diligence before zeroing in on which personal loan you want to avail yourself to avoid getting trapped in a scam.

  • The terms and conditions of the loan are vague or obscure 

Any legitimate lender has standardised eligibility criteria and set terms and conditions attached with the loan.  This is what would constitute a binding contract between the borrower and lender and is equally to protect their own future interests as it is for yours. 

If the terms of the personal loan being offered to you are vague or are too good to be true, chances are that there may be some hidden agenda or a personal loan scam in the making.

While personal loan scams are getting way too common these days, with a little caution and alertness, you can avoid them altogether. Just make sure to keep in mind the above-mentioned red flags and make a wise choice. It is always good to go with a reputed name while you are choosing your lender, like EarlySalary. EarlySalary is one of the most preferred online lenders out there

So, get started on the EarlySalary experience now!

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Attention Millennials! Don’t Make These Common Money Mistakes

Highlight: Millennials in the 21st Century find themselves in a confusing phase, with new things popping up every now and then, making you question your every move and decision.

Saving money for retirement or not spending lavishly on clothes, Millennials love not to think about the future with their cool abbreviations like FOMO or YOLO. Yet, when it comes to thinking about your future in a realistic way, they tend to blame everything except themselves for not using their money effectively.

However, one thing that millennials say about healthy financing is quite true, which is, “I’m not a financial expert, so how can I make good decisions in that area”

Well, that’s correct. Nobody is an expert on personal finance and money-saving truly.

 But you don’t have to be an expert to save money or make good economic decisions in your day-to-day life. Some simple, easy, and long-held truths about personal money management will do you more than enough to steer clear of an empty pocket and unhappiness.

Here’s a list of the most common mistakes that millennials need to avoid:

1. Assuming the Little Expenses Don’t Count

Millennials

Now don’t tell me you haven’t done this. We’re all guilty of saying at least a few times in our life, “It’s only a few dollars right, no big deal.” The problem is, it is a Big Deal!

We all tend to make fools of ourselves when we say that taking a cab home or a coffee on the way to work won’t break our bank. The reality is they all add up. The old saying of – saving every penny every now and then doesn’t harm our lifestyle really but does make the future a lot better – is true.

Take a minute, think about it. You might not consider spending $5 on a cup of coffee, but if you do that five times a week, that adds up to $1300 a year. That’s a lot.

2. The Idea of No Tomorrow

Millennials

The biggest mistake you can make as an adult is postponing to save for your retirement. When you’re just starting out in a workplace after college, the thought of financial savings for your old age may seem outrageous. However, due to the nature of investment growth or compound interest, putting a little aside every now and then becomes a lot later down the line.

However, if you join this train of thought too late, then you’ll have a mountain full of needs to overcome in your old age.

But you might say that you don’t have any money to save. Believe me, you do. Even if it’s a couple of cents or a few dollars here and there, it will make a lot of difference in the future.

3. Ignoring your Credit Score

Millennials

Back up now, a Credit what? Well, my friend, let’s have a quick lesson about credit scores, shall we?

A credit score is a 3 digit number that reflects how likely you are to repay a debt. Banks and money lenders use this score to decide whether or not they’ll grant you a credit card or a loan.

Your credit scores show how often you make on-time payments and how many good-standing accounts you have. For example, if you’re constantly missing your car payments or hitting defaults on your student loans, then it’ll negatively impact your score.

It’s like a battery indicator but for your financial health, in simple terms.

Scores usually lie in a range of 300 to 850. The higher the score the better.

It is one of the primary factors that banks and lenders look at when trying to decide to give you a credit card or a loan. Bad credit? Then bid goodbyes to your amazing home or car that you thought to buy with your credit.

Hence, a great credit score makes a man happy, healthy, and some more.

4. Making Little or No Investments

Sometimes keeping up with our loan payments is all we can do. However, it would be “wiser” to make investment a priority. Anyone introduced to the idea of the investing process seems to be overwhelmed by the sheer complexity of it and thereby leading to skipping it entirely, which is understandable.

But if you hang just for a little bit longer, you get to know that investing doesn’t have to be hard. If you start looking at some super simple funds and make your way up from there, then you’ll definitely know that it works.

5. Neglecting Health and Life

No amount of money or wealth is worth sacrificing your health, life experience, and relationships for. Even though it is understandable to work really hard and try to utilise your youthful energy and vigor to your advantage, neglecting family and health might lead to stress, anxiety, and frustration from your everyday work.

Thinking that money comes first and rest comes later is perhaps the most common mistake that millennials make.

Unfortunately, no matter how invincible you might think yourself to be just for your age, it does bear its consequences. Working 70-80+ hours a week non-stop might increase your output and efficiency, but could also substantially deteriorate your health and relationships just as fast.

6. Spending Frivolously

If you’re young, planning for your future isn’t an inherent idea that would easily intrigue you. Perhaps, living in the moment, what millennials call – YOLO and FOMO – might sound more appealing to you. But reaching financial freedom isn’t that easy if you keep spending at the rate of your earnings.

Just because you suddenly got a big bonus or a promotion, you don’t have to buy a new car, go for an exotic vacation, or buy a bigger apartment. Instead, stay ahead of your existing debt(s) and focus on the bigger picture.

With just minor adjustments here and there, buying a new house and early retirement might become a reality after all.

7. Tying the Financial Wedding Knot Too Soon

The Knot Real Weddings Study in 2018 showed that married couples spend an average sum of $33,931 on their weddings alone – which is far from the overall expenditure with their partners.

Starting life and home with another person is expensive and becomes even more so after your family expands with children and a house mortgage.

Research suggests that millennials tend to get married early and buy their first home too soon.

If you’re not financially confident to start your independent life, then you shouldn’t feel bad about not making such decisions soon, rather focus on the moment and make your financially stable first.

Bottom Line

Money doesn’t fall from a tree, and nor do you find it in a treasure chest deep inside a dark cave. All of it depends on how self-conscious you’re about your living expenses and future decisions.

If you follow some good and healthy financial advice, and efficiently manage your earnings and expenses, then you’ll rest assured, be perfectly fine and reach your optimal future full of happiness and sunshine in no time.

Taking loans at the right time might just solve all of your financial problems including house and family expenditures to credit scores. That is why EarlySalary is such a good fit for your money-related needs, as it offers the ultimate solution to all your financial needs, be it shopping, traveling, paying bills, or anything else. It offers instant loans and personal loans catered specially to your needs.

Just remember to keep the previously mentioned things in your mind and do some research, maybe hire a financial consultant to manage your money, anything that makes you fully sure about the safety of your future.

Feel free to get in touch with us for any questions on credit, loans, and your instant cash needs! We’re listening all day on:

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 Download the EarlySalary app here, and be a part of the #OneInAMillion experience

10 Things That Will Amplify Employee Loyalty

Highlight:  Here is a list of 10 simple yet effective steps you can take which can amplify employee loyalty and take your organisation forward.

Why is employee loyalty important? 

A loyal and dedicated workforce is any companies’ greatest asset. HR professionals well recognise the criticality of not only hiring the right kind of talent but also retaining them. And there’s nuance here – a manner of retaining that’s a win-win and not just an inevitable path to a delayed disengagement. 

After all, not only is a loyal employee more likely to be dedicated and more productive to achieve the organisational goals, it also helps in bringing down the turnover cost of the organisation. Turnover cost includes the following 4 broad components: 

  • Cost of termination 
  • Cost of vacancy 
  • Cost of replacement 
  • Cost of productivity loss along the learning curve 

It is clear as day that employee loyalty can play a significant role in determining the social as well as the financial performance of your organisation. 

What can be done to amplify Employee loyalty? 

While it is sufficiently clear that employee loyalty can be a make or break factor in any organisation’s progression, the next logical question is, what can be done in this regard to maximize employee loyalty in an organisation.

Here is a list of 10 simple yet effective steps you can take which can amplify employee loyalty: 

  • Strong and effective leadership 

An organisation is steered in the direction of success by its leadership and therefore, effective leadership is a very important factor. As per a study undertaken by Udemy, as many as 50% of the employees have gone on record and stated that the reason behind quitting their job is a bad manager and as many as 60 per cent of the employees think managers need managerial training.

Having a more robust and effective leadership is one of the most important factors in determining employee loyalty. The same was also reaffirmed by the Darwin Survey results. 

  • Constant feedback 

Several reports over the years have confirmed that employees prefer more frequent feedback on their work, more often than during the annual performance review. Not only does it keep them on their toes to be a better version of themselves, it also helps the employees in setting up concrete future goals and the roadmap to achieving them. 

  • Constructive criticism 

As a corollary to the previous point, while giving constant feedback, what is also important is also the way of giving the feedback: good or bad. While criticism can help a person regroup and make amends to function in a better manner, wrongly worded criticism can definitely have an adverse impact on their morale and motivation levels. 

  • Open communication channels

In addition to giving feedback to the employees, it is also important that there is scope for the employees’ feedback to the management. According to a report by TINYpulse,  employees who don’t feel comfortable giving upward feedback are 16% less likely to stay at their companies, according to TINYpulse. 

Having an effective upward evaluation system not only helps keep the managers updated with the wants of the employees, it also helps earn the employee loyalty as the employees feel that their opinion was taken into account in making organisational decisions. 

  • Having a mentoring programme in place 

A mentoring programme may be the best way to integrate the management and the employees and establish open lines of communication. This will not only facilitate the open feedback system as discussed previously, but it also helps the professional and personal growth of the employee, which may have a positive impact on the employee loyalty towards the management and the company. 

  • Encourage work-life balance 

With the changing times, it is important that the personal life of the employees is not completely ignored by the employers. In fact, as per the report titled “2020 Retention Report: Trends, Reasons & Wake Up Call”, it was concluded that a major factor affecting employee loyalty is ensuring they have some sort of work-life balance. Offering options like easy commute, schedule flexibility, hybrid working model et al can help gain employee loyalty as many as 12 per cent of employees had quit their jobs in 2019 due to work-life balance problems, as per the 2020 Retention report

  • Increased work growth opportunities 

As per LinkedIn’s 2018 Workforce Learning Report, it was found that as many as  93% of employees would stay at a company longer if it invested in their careers. Stagnancy in professional growth is also one of the most common reasons for employees leaving their jobs as per the 2020 Retention report

  • Avoid micromanaging the employees 

It is important to give employees enough space to do their work in their own way, so that they can not only be the best version of themselves for the job but also that they do not feel frustrated and bound in their own job, leading them to actually enjoy working. This will not only earn their loyalty but also helps in achieving the organisational goals in a more effective manner. 

  • Maintain neutrality 

Playing favourites with your employees or indulging in any kind of gender bias with respect to the job that needs to be done may lead to dissatisfaction amongst the employees. Having a healthy work environment, involving equal treatment of all without any biases or preconceived notions, goes a long way toward earning employee loyalty. 

  • Financial benefits 

As per the PwC’s ‘Employee financial wellness survey’ (2017) it was found that as many as  “53% of employees are stressed about their finances”. In fact, in the Barclays survey, “38% of employees said that they would move to a company which puts financial wellbeing as a priority”.

So, financial wellness may be one of the most important priorities in the life of your employee. In fact, it can be said that financial wellness is the new must-have employee benefit and by taking care of that, the organisation can increase the chances of employee loyalty. 

Parting thoughts 

It is rightly said that employee loyalty is not taken, it is earned. So, it is important for HR to orient its policies to serve the needs of the employees better. However, that is easier said than done. 

This is where EarlySalary comes to your rescue. With a range of services like easy loan, salary advances et al, all of which comes easily with a click, the services can be customised to suit the needs of the individual employees without any hassle. To know more, visit our website here.

5 Tips For Making The Most Of Your First Salary

Highlight: Become financially independent by managing your first salary! Learn healthy saving habits and stock your nest egg.

Getting your first salary can be almost an intoxicating feeling. All you’d want to do is to splurge and spend on things you have wanted to—with your own hard-earned money. Once the euphoria starts to wear off, you get back to thinking about your future and save. To be financially secure must be your top priority. The sooner you begin saving and investing your money, the greater the returns – with increasing age comes greater responsibilities.  

So, if you’re a newbie to the workforce, I know what you’re thinking – that you’re so broke right now, you’re just trying to get by. We feel you. But we’re here to tell you that many of the seemingly small money decisions you make today can have a big difference in your long-term financial future. Here are five ways on how to put your first salary to work and make the most.

5 Wise Tips For Your First Salary

  • Get yourself insured

The primary purpose of insurance is to cover risks in your life, not offer returns. Most people mistake it with investment because of the products in the market that furnish both. The earlier you get it, the better. Over the years, medical costs have been rising, and a health insurance cover is a must-have now. If you have no pre-existing diseases and are young, you pay a lower premium. If you have financial dependents, get yourself a life insurance policy. It offers you a comprehensive cover for a small premium with no returns but is eligible for tax reductions.

On the other hand, health insurance premiums are also eligible for a tax deduction. The broader catalog includes a basic indemnity plan, covering hospitalisation expenses for an individual, along with the family floater plan for your entire family.

  • Debt Clearance

While you are growing your savings, you should concurrently look at the debt you have accumulated and repay. 

You might have some being heftier than others, like credit card debts. It’s a simple formula: start with credit cards, then move on to student loans.

Card debts tend to incur a 42 percent interest rate p.a (a much higher rate), which are unsustainable if allowed to snowball.

Calculate repayments for all your debt and set aside this money on a monthly basis to ensure you do not default on payments and suffer additional interest charges. Securing free cash is the only thing more important than paying off all your debt. Pay off these debts first, as they have the potential to cause you financial ruin. Use your excess savings by opting for making partial or complete repayment of your high-interest-bearing loans. 

Student loans are also typical debt everywhere. Payment for such loans usually starts as you graduate and may take quite a few years to clear. 

  • Improve your credit score

During the early years, you get used to the good feeling of earning your own money and spending as you like. It might result in a tendency to revolve your credit card dues or delay payments without thinking through the consequences. Avoid maxing out your credit cards and learn to live within your means. These can affect your credit/CIBIL scores and hamper your ability to take out a loan when you’d require it. Try and steer clear of revolving credit or using the EMI option/cash withdrawal wherever possible.

At EarlySalary, we look beyond just CIBIL scores to assess your creditworthiness.

  • Start Investing

I know it’s very dull to think of buying an insurance plan for you amid you having many programs ready in the store. But buying insurance is of massive importance for youngsters at this stage of your life because the earlier the better. So, get your health insurance today because you never know when a medical emergency may come knocking at your doorstep. By investing early, you also let your financings have more time to ride the ups and downs of financial markets, which can be labile.  

Always take a diversified approach to reduce risk when investing—dividing your investment money into different asset classes – that are not correlated, where price movements in one investment do not affect another, where price movements in one investment generally move in the opposite direction. 

This helps if one asset does not do well, as other assets within your portfolio might be able to help cover the loss. 

And it should not only be confined to health insurance but buying life insurance is of utmost importance.

  • Save for an emergency

Are you caught in the thrill of making money, buying things, or saving for bigger goals like a house and a car?

So, build an emergency corpus – that is what you’d want to do first thing, way before saving for smaller, short-term goals. This should be equal to 3-6 months of your household expenses and include any loan repayments and insurance premium obligations. The amount should be easily accessible at the time of need and not subject to market fluctuations.

You could opt for a short-term debt fund, liquid fund, or a sweep-in bank account for easy availability and a higher rate of interest for your money.

Final Words

Maybe, at the moment, you are enjoying most of the time without having any systematic plan. But if you get yourself to follow even one of the things mentioned above, you will enjoy it throughout your life. Enjoy now or make your entire life enjoyable – the choice is yours to make.

Feel free to get in touch with us for any questions on credit, loans, and your instant cash needs! We’re listening all day on:

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Best Smartphones Under Rs 15,000 To Buy in September 2021

Highlight: There has been a rampage going on in the new budget smartphone releases and this list is designed to help make your decision in buying your dream smartphone.

Smartphones under Rs 15,000 in India are turning out to be the most competitive price range for smartphone companies like Samsung, Xiaomi, Realme, Vivo, Motorola, Oppo, ASUS, and Nokia, as they have been introducing some feature-packed Android phones back to back recently.

These latest budget smartphones under Rs 15,000 come with an impressive range of specifications including Powerful processors, Large Battery life, near bezel-less displays, and multiple rear cameras containing at least three, i.e, A High-resolution camera (usually 48 MP), a macro lens, and a telephoto lens. 

Some of these phones also offer a high refresh rate display, huge battery life, and fast charging which might make the premium-range smartphones sweat. If you are a compulsive shopper or indulge in the online shopping war, then you are at the right place for some quality advice that’ll help you save your wallet and mind.

Unlike most of the lower-priced smartphones, you don’t need to compromise on important specs. Instead, these mid-range phones provide you with more than enough specs to fill your tech plate. Also, the frequent sales on Amazon and Flipkart give icing on the cake with exclusive discounts from EarlySalary.

Here’s the list of the Best Budget Smartphones under 15,000 that’ll make your jaws drop :

  • Samsung Galaxy F22
  • Realme Narzo 30
  • Redmi Note 10S
  • Poco M3 Pro 5G
  • Nokia G20
  • Samsung Galaxy M21 (2021)
  • Redmi Note 10
  • Samsung Galaxy F22
Source: androidauthority.com

Coming up first in the list, one of the great new budget smartphones launched by Samsung – the Galaxy F22 that comes with a powerful MediaTek Helio G80 chipset, a 6.4 inch 720×1600 pixel touchscreen display, the latest One UI running on Android 11, and a humongous 6000 mAH battery that’ll never trouble you for charging frequently.

The Camera performance is quite decent at this price point with its Quad Camera setup comprising of a 48MP primary lens. The battery easily lasts for two to two and a half days but does take more than 2 hours to charge itself fully.

Additionally, it comes with a Gorilla Glass 5, 90 Hz fast Super AMOLED display, along with Samsung’s official latest One UI backed by Android 11.

  • Realme Narzo 30
Source: buy.realme.com

Realme’s Narzo 30 definitely stands at a unique position in the affordable mid-range smartphones section with its stylish design, powerful processor, an FHD+ 90 HZ display, which is still missing in several phones at the under 15,000 price range. While it does face a lot of competition from Xiaomi with its host of smartphones at the same range, it still offers commendable competition to others with its high quality and high-performance makeup and design.

  • Redmi Note 10S
Source: mi.com

With 64MP Quad Camera, 5000 mAH, a 33W Fast Charging, a MediaTek Helio G95, and a 6.43 inch Super AMOLED Display, this one is the perfect all-in-one package for anyone looking to buy the best budget smartphone.

It has an FHD+ AMOLED Dot Display with a 20:9 aspect ratio which is perfect for media consumption and watching those long hour movies and tv shows in your cozy space.

And the 5000 mAH battery ensures that your phone doesn’t run out of battery anytime soon.

But wait that’s not it, this smartphone by Xiaomi also offers the latest MediaTek G95 Octa-core processor that gives you a rich and smooth gaming experience. You won’t miss your shot this time!

Additionally, it also features 6GB RAM with up to 512GB expandable storage, and a dual SIM card slot instead of a hybrid slot which is usually offered at this price point.

  • POCO M3 Pro 5G
Source: flipkart.com

Offering the newly launched MediaTek Dimensity 700 processor, a 6.5 inch Full HD+ fast refresh rate display, fast charging, and a 5G connectivity support, this is one of the best mid-range 5G enabled smartphones available this year.

The POCO since its first launch has always provided the best specifications there is in a highly competitive price range, which has always been received well by its customers.

And this smartphone is not any different with its highly durable and lasting nature that’ll keep you worry-free for a good few years.

It comes with a 90hz fast refresh rate display, a high resolution and high contrast display, a powerful and brand new MediaTek Octa-core processor along with 4GB of RAM, a 5000 mAH battery, USB Type-C port, an 8MP front camera, and a Triple camera layout with a 48 MP primary camera.

  • Nokia G20
Source: amazon.in

Surprisingly enough Nokia is back into the competitive mid-range competition with its new G20 model, which offers a plethora of great features ranging from a good processor to a 3-day claimed battery life.

The 48MP primary camera allows you to take quality shots and lively videos along with spatial surround sound. Also, the phone comes with an impressive 6.5-inch HD+ screen that has a 21:9 aspect ratio which is perfect for media and content consumption.

The marketed Nordic design offers a pleasing look and aesthetic along with notable durability.

Additionally, it comes with a 3-year security update feature that ensures safe and smooth use out of your device.

  • Samsung Galaxy M21
Source: amazon.in

This smartphone by Samsung comes with a 6.4-inch FHD+ AMOLED Infinity U display, with an aspect ratio of 19.5:9.

For clicking pictures, it offers a Triple camera setup with a 48-megapixel primary lens. With a razor-sharp display, an elegant and durable design perfect for gaming and media consumption, a fast biometric security system, great low light photography capable camera module, combined with a 6000mAH large battery life, this is the ultimate budget smartphone offered by Samsung at this price range

  • Redmi Note 10
Source: amazon.in

The Redmi Note 10 is one of the best budget smartphones available in the market right now with all-rounder specifications at such a low price.

Powered by the latest chipset by Qualcomm – Snapdragon 678, which is a slightly upgraded successor of the 675 chipsets, a Super AMOLED Display, a large 5000 mAH battery, a 48 MP primary camera, and a beautiful design, this budget smartphone is a great catch for anyone.

The powerful SoC gives a fast and precise gameplay experience with decent benchmark scores for casual gamers.

In addition, the primary camera allows you to take great shots during the day and fairly decent ones at night. It also provides a 33W fast charger in the box for quick charge and some rare features like IP53 water and dust resistance.

Final Conclusion

So there you go, the list of best budget smartphones under 15,000 in September 2021. From Great cameras to great designs, huge battery life to insanely fast charging, these phones are packed with unique features that will satisfy anyone’s hunger for a great smartphone and one that doesn’t break their bank.

Overall, this price range is becoming one of the most competitive war-zone for big smartphone companies to show their authority in, which is great because this gives customers like us a chance to buy the smartphone that’s especially useful to us and the funny thing is it’s only going to get better.

But the price may be troubling for some people. In that case, you might want to check out some great shopping loans with EarlySalary to buy your dream smartphone with a personalized and quick mobile loan.

EarlySalary provides all kinds of loans, from instant loans to personal loans, all of which are completely online and hassle-free with the help of their instant loan app available on both the play store and apple app store. Sign up now and get instant cash transferred to your bank account in just 10 minutes.
Also, check out the best ways to save on big purchases this shopping sale.

Feel free to get in touch with us for any questions on credit, loans, and your instant cash needs! We’re listening all day on:

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 Download the EarlySalary app here, and be a part of the #OneInAMillion experience

Ready To Make An Investment? Things To Keep In Mind

Highlight: Are you planning on making an investment to secure your future? Before you begin investing, it is critical to consider a few factors such as investment objectives, risks involved, investment strategies, and so on. Learn how to invest while keeping all of this in mind

Investing your money may be (or rather, is) the most effective way to meet your future financial goals and build long-term wealth. While it can seem overwhelming considering the breadth of investment options available in the market, the truth is – without a proper financial planning process; your money is bound to go down the drain. In other words, you’re going to lose money simply by letting it idle.

As Warren Buffet once said, “Risk comes from not knowing what you are doing,” so there is a need to understand the basics and consider certain things before making investment decisions. 

A well-planned financial process not only frees you from any financial worries but also helps you achieve your long-term financial goals. Now, there might be risks and uncertainties in any financial plan, but the ability to handle and deal with such uncertainties can help you make good investment decisions. 

There are a number of investment options available in the market, from mutual funds and Fixed deposits to bonds and direct equity. However, before investing in any of these options, you should review and revise your financial plan to make an informed decision. In this guide, let us look at a few things that you must keep in mind before investing. 

5 factors to consider before making an investment

  • Sketching out a household budget

The first thing you need to consider is your household budget, as it will determine how much money you can put aside for investing. To prepare a household budget, you have to jot down all your sources of income, which may be your salary, rental income, interests, dividends, etc. Then you have to calculate your monthly expenses, which includes groceries, electricity bill, telephone bills, fuel bills, etc. 

After you have a basic structure of your household budget, you can set aside the money you wish to invest for achieving your long-term or short-term financial goals.

  • Plan your investment strategy 

One of the most important things to keep in mind before investing is your investment strategy or plan. A pre-planned investment strategy not only helps you identify your investment goals but when and how you can achieve them. 

There is no denying that certain emotions can influence your investment decisions considering current market trends and high volatility. For instance, there may be times when you want to change your investment strategy, such as selling off your assets, because certain areas of your financial portfolio are not doing well. However, if your investment strategy is intended to be long-term, making rapid investment decisions based on short-term market fluctuations can affect your long-term financial goals. Therefore, it is recommended to plan an investment strategy and then act upon it. 

  • Consider where to invest your money

You might want to consider different investment options when it comes to investing. You may choose to invest your money in shares and bonds or residential property. One of the benefits of diversifying your investment portfolio is efficient risk management. For instance, if one of your investments does not perform well, your other investments may help to level out your losses. Therefore, it is important to analyse and study different investment options before investing. 

  • Know your risk tolerance

Before investing, you should know how much risk you are willing to take because some investment options can give higher returns than others, but you might have to face greater risk. For example, you can enjoy higher returns on mutual funds than FDs, but being market-linked, you can face a higher risk. Decide whether you have the risk tolerance for such investments; taking more risk than what you can handle can eventually make you stop your investment plan even before achieving your financial goals. 

  • Know your investment timeframe

Once you have set your investment goals and plan, then you get an idea about how much time it will take for you to achieve the goals. You have to know the timeframe of your investment, whether you are setting long-term investment goals or short-term. Not knowing your investment time frame can jeopardise your financial future. 

Conclusion 

The intent to make an investment decision is good for a secure future, but it loses its purpose if you are not clear about the investment goal, tenure, or where to invest. So even before you start investing, it is always a good idea to consider certain things like why you are investing, your financial goals, how much risk you can handle, etc. These things will help reduce risk and set you up for success. 

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