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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!

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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.

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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.

How to Apply for a Personal Loan of Rs 5 lacs with EarlySalary

Emergency can arise at any time and not everyone has adequate funds to deal with them. In such situations, personal loans can be very helpful. Quick personal loans provide funds and the confidence to cater to immediate needs such as unexpected medical expenses, debt consolidation to save interests or even home repairs. 

If you need immediate funds for a short tenure, you can apply for a 5 lacs loan online. The foremost benefit of online applications is the quick verification of documents and rapid approvals. rate.

A personal loan online is a good option for young professionals looking to meet their credit needs.

Eligibility Criteria for the Personal Loan 

Before you apply for personal loans up to 5 lacs, you must check your eligibility for the loan. Every lender has outlined eligibility criteria of their own that you must meet to avail of the loan. 

EarlySalary has easy-to-meet eligibility criteria for personal loans:

  1. Age – 21 years to 55 years
  2. Income – Minimum salary of 15,000 for non-metro cities and ₹ 18,000 for applicants living in metro cities
  3. Residence – Resident of India

If you meet these eligibility criteria, you can apply for the loan and get the amount transferred directly to your bank account in 10 minutes. 

Documents Required for the Personal Loan

After you have checked your eligibility for a personal loan, you need to collect the following documents required at the time of application. The documents required for a 5 lacs loan from EarlySalary are minimal and can be uploaded online for hassle-free approval. 

  1. Identity Proof – Proof for Identity like your PAN, Aadhaar, Passport or Voter ID. 
  2. Residence Proof – Proof of residence like Aadhar, PAN, Passport, Voter ID or Ration Card.
  3. Income Proof –  3 months of salary slips – not mandatory for every customer. 
  4. A selfie

Just upload the documents in PDFs for a hassle-free application and get a personal loan up to 5 lacs transferred. 

How to Apply for a ₹5 lacs Personal Loan?

Now that you have checked the eligibility and the minimum documents required let’s know the procedure for applying for a 5 lacs loan. 

Register

Download the EarlySalary app or register on the website. Fill in the few basic details.

Get Instant Approval

Get approval in seconds. Once approved upload your KYC documents on the app.

Choose the amount 

Choose the amount of  cash you want to borrow.

You can use an online EMI calculator to find the right manageable amount for you. You can also calculate the EMI and tenure likewise. 

How to Calculate the EMI on the Personal Loan?

The personal loan EMI is calculated on the loan amount, tenure and interest rate. With an online EMI  calculator you can eliminate the hassle of manually calculating your EMI amount. 

  1. Open the personal loan EMI calculator.
  2. Enter the loan amount you wish to avail.
  3. Choose the loan repayment tenure as per your financial situation at the time. 
  4. Enter the interest rate, and the EMI will be displayed in a few seconds.

Benefits of a Personal Loan of up to 5 lacs 

Personal loans up to 5 lacs is unsecured loan sanctioned based on the borrower’s financial profile. Such loans don’t have any usage restrictions; hence, the borrower can use the amount to fund any immediate requirement.  

In addition to this foremost advantage, availing of this loan brings several other benefits:

  • No Collateral – Lenders do not ask for collateral or security. The credit score and spending habits act as a guarantee. 
  • Attractive Interest Rates – Interest rates charged are manageable, ranging from 7  per day.
  • Flexible Repayment Tenure – Repayment tenure can be anywhere between 6 to 36 months, based on the borrower’s preference and the lender’s affirmation of the same. 
  • Minimal Documentation – With EarlySalary, the process is completely digitally completed with minimal KYC and financial verification. The disbursal time is just 10 minutes. 
  • No or Minimal Pre-closure Charges – The lender may choose to offer a pre-closure facility without levying any penalties. 
  • Borrow Anytime– The emergency 5 lacs loan can be availed any time through a quick and easy online loan app. 

Applying for an instant 5 lacs personal loan is easy. Just check your eligibility, EMI and documentation for a manageable application and repayment. You can apply for a personal loan online by filling out the application form and avail of the loan in 10 minutes.

Home Renovation Loan: All You Need to Know

Home used to be the heaven where people could come back from work and relax before the pandemic. Now, home are transforming into offices and schools. Even during regular days, the home needs renovation from time to time to stay trendy and comfortable. This is where a personal loan for home renovation provides the required funds.

You can apply for a personal loan for home renovation from your smartphone without leaving your house. Here, you will find all the information that you need to know about home renovation loan applications.

Whether you want to repaint your house, redesign your kid’s room, redo your bathroom or kitchen, or replace your windows, doors, or tiles, you may give a brand-new look to your home using your home renovation loan.

What’s more, you can get an instant loan online through a website or an app. Just login to your selected lender’s website or download their app and start the application process. These are the simple steps to follow:

  • Visit the lender’s website or download and install the app
  • Check the lender’s eligibility conditions
  • Create an account or register via your existing account
  • Fill up the online application form
  • Enter your details, which include your identity, address, employment, and bank details
  • Provide your loan requirement details 
  • Submit the application form

Once you submit the application form, you will get confirmation about whether you are eligible for a personal loan home renovation and the loan amount the lender is offering you. If you accept that loan offer, you have to scan and upload a few documents to prove your identity, address and income. If everything goes smoothly, you will receive your loan amount disbursed directly into your bank account.

Benefits of Applying for a Home Renovation Loan online

Online loans have become extremely popular among prospective borrowers due to the multiple benefits they offer. 

24/7 Availability

You may log on to your lender’s website or app 24/7, irrespective of their working hours. When you require an instant loan online, you can access it anytime and get the needed funds when you need them the most.

Convenience

You may apply for a loan online for anything you want in minutes. Whether you are at home or office, travelling or in the hospital for a medical emergency, you can submit your application within minutes and get funds instantly.

No Paperwork

NBFCs have minimal documentation requirements that include your address, identity, and income proof. However, you don’t need to visit the lender’s office to submit these documents. Online instant loan application from EarlySalary is a paperless that you can complete online. You can scan and upload the required documents and get a loan is seconds.

Faster Approval and Disbursal

A personal loan for home renovation does not require any collateral, guarantor or security. You can quickly accept the loan offer, select your repayment tenure and complete the remaining formalities online.  EarlySalary uses a proprietary AI/ML based algorithm that disburses loans in just 10 minutes.

Online Loan Tools 

While applying for a personal loan, NBFCs offer several loan-related tools to make loan applications easier for you. Some of the most helpful tools include:

  • Credit Score Checker: Most NBFCs have a minimum credit score requirement that you must meet to avail their personal loan. A credit score checker tool available online helps you check your credit score for free. Based on the results, you can decide to apply for the loan, choose another lender, or take steps to improve it. 
  • Personal Loan Eligibility Calculator: A personal loan eligibility calculator helps you confirm your loan eligibility. After entering your loan requirement, it displays the loan amount you are eligible for.
  • Personal Loan EMI Calculator: Most personal loans come with flexible repayment terms. They allow you to choose your loan term according to the EMI amount you are comfortable paying each month. Enter your loan amount and interest rate, and select a loan tenure to know what EMI amount you have to pay for that loan term. Depending on your monthly budget and repayment capacity, you can adjust the loan term until you find an EMI amount you can conveniently manage.

These are the major benefits of applying for an instant loan online. Going digital can be your saviour for urgent fund requirements because of its paperless procedure and fast loan processing. You can come out of crisis within hours if you fulfil the lender’s eligibility conditions and documentation requirements. You don’t need to visit several lenders or meet people while dealing with a loan digitally. So, find a lender suitable to your requirements and start the application procedure now.

7 Tips to Help You Manage Long Term Personal Loans

Personal loans are the preferred choice when you want instant funds to cover your planned or urgent expenses. Most of these loans come with flexible repayment tenures that you can choose as per your convenience. Choosing an extended loan term reduces the EMI amount and makes repayment more manageable. However, managing it for such a long time becomes challenging for many. Therefore, here are a few top tips to help you manage a long-term personal loan efficiently.

1. Make a Budget

Making a budget is the best step to improve your financial situation and manage loans better. Managing a long-term loan without budgeting makes you confused and vulnerable. You don’t know where your money is going and how much you are spending unnecessarily. If you save less than you should, creating a budget would be the best answer.

To create a budget, categorise your expenses into groceries, bills, entertainment, etc. Broad and simple categories make calculations and monitoring easier. Once you identify your unnecessary expenses, try to keep tabs on them to make loan management easier.

2. Pay Your EMIs on Time

Paying your EMIs on time every month is an efficient way to avoid late payment penalties. Missing payments also reduce your credit score, which ultimately affects your creditworthiness. With better financial management, you can stay on top of your EMI payments and avoid these consequences. Once you create your budget, you will find EMI payments much easier to manage. 

Make a financial plan and keep a portion of your income aside every month to pay your due EMIs. If you keep forgetting your EMI payments, consider activating the e-mandate to pay your EMIs from your bank account automatically. Another tip is to pay one early EMI as you receive your loan amount. Doing this will keep you ahead of your EMI payment plan and give you a buffer against a missed EMI.

3. Pay Extra Whenever Possible 

Just like paying one early EMI, paying extra whenever you can also maintains a buffer for a missed payment. This critical strategy keeps you ahead of your repayment term and attracts additional perks from your lender. Paying extra will reduce the overall loan term of your repayment plan and help you clear your debt sooner. Paying your personal loan earlier will save you money by lowering your interest outgo. Besides that, paying debts faster than the loan term will increase your credit score. As a result, you improve your chances of instant loan approval in the future at reduced interest rates.

If you consider paying extra on your loan EMIs, ask about the pre-payment charges you need to pay to the lender. While many lenders allow borrowers to pay loans faster without pre-payment charges, others may charge hefty pre-payment charges. Since such charges negate the advantages of early loan repayment, enquire about them to build a lucrative strategy.

4. Consolidate Your Debt

If you are managing multiple loans, consolidating them would be an excellent way to simplify your debt management. When you do that, you take out a single, bigger loan to repay all your existing loans. Then, you make a single payment to one lender, rather than making multiple EMIs to several lenders each month with different loan terms, interest rates, and other requirements. Many people take long-term personal loans to consolidate their debt and pay their EMIs over several years.

Debt consolidation is particularly helpful if you pay high-interest rates on some loans. However, before taking a personal loan for debt consolidation, check your budget and ensure that you can pay its EMIs on time.

5. Maintain a High Credit Score

Closely monitor your credit score while managing your long-term personal loan. This 3-digit number plays a crucial role in your financial history, and lenders give it due importance while approving your loan application. Your credit also significantly impacts your loan amount, interest rate, and repayment term. It reflects your credit behavior and repayment history. Staying ahead of your loan EMIs helps you maintain a high credit score and improve your credibility for the future.

6. Use Automatic Payment System

If you keep forgetting your EMI payments, try setting up an automatic debit directly from your bank account. By doing that, you don’t need to remember to pay your EMIs each month. The EMI amount will be directly debited from your bank account and transferred to the lender. However, you need to ensure that you maintain a sufficient balance in your bank account before the due date. One helpful tip would be to set up the automatic debit a couple of days after your payday. There are high chances that you will have enough money in your bank account on that date.

7. Control Expenses and Save Money

When you create your budget, you will identify where you are spending your hard-earned money unnecessarily. Little expenses here and there quickly add up and disturb your budget. Reduce your movie dates and dine-outs, control those impulsive shopping urges, and switch off lights to save on utility bills. Money-saving tips like these help you save a little more, which you can put towards your EMI payments. Once you pay off your loan, you will have enough money at your disposal to fulfill the urges you controlled all these years. 

Managing long-term personal loans becomes stress-free and pretty straightforward once you work out the tips provided above. Stay disciplined with your finances, set a budget, and pay your loan EMIs regularly to stay ahead of the curve. Once you become debt-free, you will breathe easier and enjoy the money you have on hand.

Are you looking for funds to cover your expenses? Apply for an instant loan for a loan term of up to 24 months and use the tips mentioned above to manage it like a pro.

How to Manage Your Unexpected Wedding Expenses

Different types of unexpected expenses may arise while planning a wedding, like vendor cancellation, getting invitation cards re-printed, outfit malfunction, etc. At such times, a personal loan for wedding makes instant cash available to you. It also brings to you several other benefits, like fast approval, flexible repayment, and easy online application.

Organising a wedding requires months of careful thought and planning. Once the date gets fixed, you need to list down all the tasks needed to plan the wedding of your dreams. You need to take care of endless tasks and give attention to every detail to make your wedding a memorable event. However, even after all the planning, certain unexpected expenses may pop up at any moment, ruining all the efforts you have made to date. This is when you may think of availing of a personal loan for a wedding.

Which Unexpected Wedding Expenses Can You Manage with the Personal Loan?

A wedding loan is an unsecured personal loan that helps you manage your unexpected wedding expenses with ease. These loans support easy online applications and approval within minutes, making them an ideal and viable financing option for last-minute wedding expenses. Let’s find out more about how to manage your unexpected wedding expenses using a personal loan.

No matter how perfectly you plan for a wedding, some last-minute expenses may always get you surprised. Some of such unexpected expenses may include errors in invitation cards, higher than expected guests, wardrobe issues or last moment vendor cancellations. A personal loan for a wedding offers that much-needed backup to handle such expenses and ensure that your wedding is stress-free.

Features of a Wedding Loan

A wedding loan helps you manage many unexpected expenses at the last minute. If you consider availing of one to stay prepared for your last-minute wedding expenses, it’s essential to know their features and benefits.

  • No Collateral Involved: Wedding loans are unsecured, which you may avail of without any guarantor, security or collateral.
  • Easy Online Application: NBFCs support a 100% online personal loan application process that you can complete through the lender’s website or app without leaving your house.
  • Simple Eligibility Conditions: Most lenders have simple eligibility conditions that include the applicant’s age, employment, income and credit score.
  • Minimal Documentation: Most NBFCs have minimal documentation requirements, including income, identity and address proof.
  • 100% Paperless Application: There is no need to visit the lender’s office even once since you may scan and upload the essential documents online through the lender’s website or app.
  • Flexible Repayment: Since lenders have flexible repayment options, you may use a personal loan EMI calculator to choose your EMIs suitable to your budget.
  • Quick Approval: Since there is no collateral and paperwork involved, lenders may approve your loan application within minutes.
  • No End-Use Restrictions: A personal loan for wedding does not come with any end-use restrictions. You are free to use your loan amount for any wedding-related expenses, including venue, catering, photography, wedding outfit, decorations, gifts, invites, etc.

Benefits of Availing a Wedding Loan

All the above features come together to deliver several benefits to the borrowers. Let’s look at some of them.

  • Easy Access to Funds: While you are busy planning the wedding event, you don’t have time to visit the lender’s office and apply for a loan. Most NBFCs support online personal loan applications using their website or app, which you can conveniently undertake using your smartphone or laptop.
  • Fast Approval: Lenders offer instant loan approval and disbursal, due to which you get your required funds at the right time without disrupting your wedding plan.
  • No Assets to Put at Stake: Since personal loans are collateral-free, you get access to the loan without putting any asset at stake.
  • Easy Repayment: Flexible repayment terms enable you to select the EMIs that are easily adjustable into your monthly budget.
  • Savings Kept Intact: By availing of a personal loan, you can plan a wedding the way you want without using up your savings. Plan the wedding now and repay its expenses in easy EMIs at your convenience.

Who Can Apply for a Wedding Loan?

Any salaried employee with a regular income is eligible to apply for a wedding loan. Besides that, there are certain other eligibility conditions that vary from one lender to the other. Therefore, you must check your selected lender’s eligibility criteria before filling out the application form. 

Most lenders expect you to be a resident of India and of a certain age. Some lenders also set a minimum salary or income requirement to ensure timely EMI payments. Last but not least, you must have a decent credit score, based on which the lender determines your loan amount and interest rate.

With a personal loan for wedding, you can manage unexpected expenses with ease. So, apply for a loan and stay prepared for the unexpected expenses to make your dream wedding a memorable experience for all.


Easy tips to improve credit score – EarlySalary

Having a good credit score is extremely critical. It works as a key factor for banks and financial institutions while providing you with a loan or a credit card. But the burning question is how to improve your credit score? In this article we will give you some of the easiest and most effective tips to improve your credit score.

The score is generated based on an individual’s credit repayment behavior over a period. All of us need to maintain a healthy credit score as it determines our borrowing capability. A healthy credit score would be in the range of 700-900 depending on the credit bureau. Generally, all lenders look at credit scores and credit reports before giving out any credit product, be it secured or unsecured. Maintaining a healthy credit score also gets you a lower interest rate on your loans.

What is a Credit Score? What is Considered a Good Credit Score

A credit score is a 3 digits numeric number ranging from 300-900. It is assigned to every individual who has availed of a credit product. Credit score of an individual is determined based on their credit/loan behaviour. 

In India, credit history is maintained by credit bureaus that are licensed by RBI. Currently, there are 4 credit bureaus in India. They are TransUnion CIBIL, Experian, Equifax and CRIF Highmark. Each of these credit bureaus has its own algorithm to assign a credit score to every individual.

The score is generated based on an individual’s credit repayment behaviour over a period. A healthy credit score would be in the range of 700-900 depending on the credit bureau. Most lenders look at credit scores and credit reports before giving any credit product. Maintaining a healthy credit score also gets you a lower interest rate on your loans.

Easy Tips To Improve Your Credit Score

How to improve CIBIL score in India

One of the most important indicators of your financial health is your credit score. It tells lenders how responsibly you use credit in a glance. The higher your credit score, the easier it will be to be approved for new loans or lines of credit. A higher credit score can also help you get the best available interest rates when borrowing.

If you are wondering how to improve your credit score, there are a few simple things you can do. It takes some effort and of course time. Below we discuss how you can improve credit score.

  • Paying loan EMIs /credit card bills on time

One of the most important factors in determining your credit scores is your payment history. Having a long history of on-time payments can help you achieve excellent credit scores. To achieve this, you must ensure that you do not miss any loan or credit card payments for an extended period of time. If you pay your loan EMI or credit card bill on time, your credit score will be healthy over the period.

  • Never pay just the least amount due

You should make payment of your credit card bills either in full or at least pay more than the least due amount. Paying the least due amount reduces your chance to improve your credit score.

● Maintain Credit Card Limit Utilization Below 60-70%

People often wonder “how to improve my credit score”. To improve your credit score you must avoid utilising your credit card limit to its fullest. It impacts your credit score negatively. Suppose you utilise the limit completely. In that case you should ensure that the payment is done in full/part to bring the limit utilisation down to 60-70%.

  • Check Your Credit Report Regularly

Checking your credit report is one of the most important things to improve credit score. This will assist you in locating errors in your report. If you discover errors in your credit report, you must correct them right away. The credit score is calculated based on the information in the credit report. Therefore, you must ensure that this report is error-free.

  • Avoid Unnecessary Inquiries For Loan/Credit Card

There are two types of inquiries that can be conducted: 

  • Hard inquiries
  • Soft inquiries

When you check your own credit, this is referred to as a soft inquiry. Soft inquiries occur when a potential employer checks your credit. It can also occur when financial institutions (with whom you already do business) check your credit. Soft inquiries have no impact on your credit score.

When you apply for a credit card or a loan, you will be subjected to a hard inquiry. Hard inquiries that occur on a regular basis will not affect your credit score.

Applying for a loan from many lenders creates a footprint on the credit report. Many inquiries at credit bureaus for a loan within a short period will negatively impact your credit score. You should not keep looking at loan/credit card options unless it is necessary.

  • Good Mix Of Credit Product

Always maintain a good mix of both secured and unsecured loans. A good mix improves the chances of having a better credit score. Although, having too many unsecured loans should not be preferred.

  • Monitor your Credit Score

Sometimes, you might receive a wrong credit score or there might be a mistake in your CIBIL report. It is always recommended to check your credit score well in advance. This is because there is no way you can correct the report at the last minute.

You should keep looking at your credit bureau report periodically for any wrong reporting done by lenders. If you want to figure out how to improve your credit scores in India this practice is a must. If you find any wrong reporting you should take your concern to credit bureaus for correction.

To summarise, you should always repay the loans/credit card on time to have a good credit score. Missing your EMI repayment can lead to a very poor credit score. Even multiple outstanding loans can affect your credit score. So, you should always clear your loans/credit card bills to avoid paying high rates of interest.

Are Personal Loans Tax Deductible In India?

Quick personal loans are common these days. With instant personal loan platforms available today, this trend is gaining momentum every day. Personal loans are unsecured and can be availed of easily. This is why a larger number of borrowers find themselves going for these loans to procure funds for their personal needs. These requirements may include wedding, vacation, education expenses or other personal projects.

Personal loans are a quick way to arrange funds. However, it is important to find a lender with affordable interest rates. In this context, tax deductions on personal loans are a much-needed benefit for borrowers. But the most important question here is, are personal loans taxable?

Does India’s Income-tax Act (ITA) Allow Tax Deductions on Personal Loans?

When we talk about the personal loan tax deduction, there are two aspects of any loan. Each aspect is tackled differently by India’s income-tax act in terms of tax benefits. These two aspects are: 

  • The principal amount of the loan
  • The interest charged on the loan

If one is to answer the question about the possibilities of a tax rebate on personal loan the simple answer would be “No.”

The Income-tax Act of India has rules for tax deductions and exemptions on both the principal and interest of certain loans. These include home loans, education loans, business loans etc. But the act does not entertain any tax deductions on income tax returns in case of personal loans. 

The end-use of loan money will decide whether tax should be levied on a personal loan or not. This is due to the lack of direct mention of tax relaxations on personal loans interest rate and principal in the income-tax act.

Another key factor here is the source of your loan be it a traditional source or an instant personal loan app. The principal of a personal loan can become taxable or non-taxable, depending on the source from which you acquire the loan.

Suppose you are taking a personal loan from a bank, NBFCs or other legally approved financial institution. In that case your loan’s principal amount is considered a liability and is not taxable.

The rule is the same if you apply for personal loans online using an instant loan app. However, if the amount is borrowed from a friend, relative or other non-professional lending sources, it is viewed as your income. Such income is added to your gross income at the time of income-tax calculations.

But what about the interest paid on personal loans? Can a borrower enjoy tax deductions on the personal loan interest? As discussed above, there are certain conditions and the final use of the loan money that will be considered for any tax relaxation.

Here are three circumstances under which a person can avail of tax benefits on a personal loan:

1. Personal Loan Used for Business

If a borrower ends up investing the personal cash loan in his business the interest on that loan becomes a liability for that business. Here, the interest paid is considered an expense and can be deducted from the net profit of the business. This brings down the total amount of taxable net profit. Furthermore, the income-tax act has set any limit on the amount of tax-deductible liabilities of a business. This means that the entire interest on the person can be tax deductible if used in business.

2. Personal Loan Used for Buying or Construction of a Residential Property

Section 24 of the Income Tax Act, titled “Deductions from Income from House Property”, makes it possible to enjoy tax benefits. According to Section 24, interest paid for funds acquired through a personal loan can be deducted from the net taxable income from residential property. Section 24 will apply if the money is used for purchasing, constructing or renovating the same property. 

Since section 24 of ITA does not specify the type of loan, personal loans are also eligible for said tax deductions. The borrower would need to present the required documents to prove the use of personal loan money. Up to ₹2 lacs can be claimed as tax deductions on the interest of a personal loan if the borrower occupies the house

3. For Purchasing Assets

Suppose the borrowed funds are used for acquiring jewellery, shares or any other non-residential assets. In that case the borrower cannot claim any immediate tax relaxation at the time of purchasing said assets. However, the interest paid on loaned money used for buying the asset is added to the total cost of acquiring that asset. Therefore if the borrower ever sells a particular asset, the paid interest is also deducted from the capital gains. It is cut as part of the acquisition cost. This will effectively reduce the taxable profit.

Wrapping Up

Instant personal apps like EarlySalary have provided easy access to fast personal loans. The income-tax act of India does not explicitly provide any guidelines on taxes on personal loan. This vagueness allows other ways to ascertain tax benefits on personal loan. Tax benefits on personal loans can only be availed if borrowers fulfil certain eligibility criteria. This can be proved by presenting the necessary documents. So it is very crucial to keep safe all documents, bills and certificates relevant to the loan or the use of loaned funds.

Most Preferred Online Personal Loan Lenders- EarlySalary

Do you know that it is easier to deal with online personal loans instead of traditional lenders? Online loan lenders may approve borrowers with a wide variety of credit/CIBIL scores. Some may offer both large and small flexible loan amounts. It depends on your borrowing needs. These money lenders online can provide instant funding solutions when you need them.

Searching for a personal loan online is a more effortless rate-shopping experience. You can easily consider and compare many loans offers side by side from the comfort of your home. Many online lenders often offer a prequalification process. You can make loan comparisons without damaging your credit/CIBIL score.

Why EarlySalary?

EarlySalary is preferred by employees, young or old. This is because of its smooth disbursal of loans and user-friendly interface. It provides several benefits through a secured online personal loan app. EarlySalary offers Instant Loans to users with less documentation. They just need to have a salary of ₹18,000 or more every month. Those qualified can apply for loans ranging from ₹5,000 to ₹5 lacs, for rates as low as ₹9 per day. It has also partnered with Amazon and Flipkart for shopping loans too. We have more than 5 lacs happy customers, 1 crore app downloads, ₹5,000+ crores of money disbursed.

Now, let’s look at a few reasons why EarlySalary is one of India’s most preferred personal loan apps! 

Loans up to ₹ 5 lacs

One must opt for a plan that can offer the required sum at a reasonable interest rate. EarlySalary offers higher loan amounts with no collateral or security.

Rapid Processing Times and Application Process

The quicker the loan gets approved, the better it is for the borrower. Choose a lender that does not delay the process by demanding a long list of documents. EarlySalary Personal Loan gets sanctioned within a day after the minimal documentation process.

Flexibility of Repayment

Life can throw curveballs any time. Hence, one must choose low credit score personal loan lenders. They will offer the borrower a flexible repayment schedule. EarlySalary provides Personal Loans that offer the options to increase EMIs with time. It also does not charge any extra fees for the prepayment of the loan.

Attractive Rates of Interest

This is perhaps one of the primary determining factors when picking out a lender. You might find different interest rates on personal loans at different lenders. Some lenders also charge elevated hidden prices like processing fees. EarlySalary has no comparable overheads with local branches. 

Brand Value and Trustworthiness

When it comes to financial matters, the reliability of the lender plays an important role. The applicant needs to verify the lender’s reliability. The lender also does a financial check on the applicant. One must check for online reviews, loan policies, etc., before applying. It is always advisable to stick to the big shots in the market. And, EarlySalary has always been the best with credibility. We have over 5 lacs happy customers, 1 crore app downloads and ₹5,000+ crores money disbursed.

Type of LenderOnline lender
Loan AmountUp to ₹5 lacs
Loan DurationUpto 24 months
Approval Duration10-20 minutes
Repayment DurationUpto 24 months
DocumentMinimal

Conclusion

Online personal loans offer people significant convenience. It can be used to meet many varied expenses. But one must pick only credible personal loan lenders to avoid a financial nightmare. 

Keeping all the above advantages in mind, EarlySalary stands out from its competitors. It is one of India’s most preferred online personal loan lenders.

Bank Statement: All You Need to Know

Table of Contents: 

What is a bank account statement?

  • How to get a bank statement online
    – Steps to follow for a bank statement PDF download
    – How to download a bank statement from an email
    – How to get a bank statement without net banking credentials

What is a Bank Account Statement?

A bank statement is a summary of all the bank transaction details over a given period for every bank account held by an individual or a business. A bank statement PDF would include the account owner’s name and other details of bank account like account number, bank data, charges, deposits, withdrawals and deductions. Moreover, the initial and closing bank account balances are also shown in a bank statement.

How to read a bank statement online?

Once you make a bank statement application, you can check the bank account balance on the statement you receive. You will also find a few more bank details mentioned in the bank statement PDF. You should learn to understand all this bank information, as it directly concerns your finances.  

So, what shows up on your bank account statement?

  • Statement cycle: The date range your bank statement covers.
  • Your personal and bank account details: Contains your name, address and account number. 
  • Bank information: Bank’s name and logo, phone numbers, details of help centre, etc. so you can reach out to them should the need arise.
  • Bank account activity: A detailed breakdown of every transaction of the account. 
  • Bank account summary: Your starting balance, the total number of additions and withdrawals and the ending account balance. 
  • Transaction dates: The date on which the bank processes a transaction made through the account.
  • Credits and debits: Funds that are added and deducted from your bank account. 

Here’s an example of a bank account statement:

What are the benefits of a bank account statement?

The purpose of a bank statement is to summarise all bank account activities within a certain period. Benefits of a bank account statement include:

  • You review all transactions in your bank account.
  • Lenders like EarlySalary need you to submit a bank statement PDF to apply for personal loans or instant cash loans.
  • Credit card firms and banks need bank account statements to validate borrower applications. 
  • If you apply for any kind of mortgage, credit, or financial help, you will need to submit your bank transaction details for income and employment verification. 
  • Bank statements are also valid identity verification proof for you.

How to download a bank statement?

You can place a bank statement request online and download bank statement PDF if you use internet banking. However, there are other ways to get a bank statement too. Read on to find out how.

How to get a bank statement online

You can get a bank statement online through official bank applications or the official website of your bank. You have to register with your bank’s net banking portal. After that, you can follow the simple steps described below for a bank statement PDF download.

How to download a bank statement in PDF

  • Visit your bank’s app or official website.
  • Log-in to your net banking account with username and password.
  • Click on whichever of these you can find: ‘bank account statement’, ‘download e-document’ or ‘view your transaction history’. 
  • Select the date range for your bank account statement.
  • Click on ‘download PDF’. 
  • For the banks that do not provide a download option, you can select the print option and then save the document shown as a PDF. 

In the image below, you can see the net banking portal of a bank’s website, where you have to specify a period for a bank statement PDF download.

(source: bankingidea.org)

How to download a bank account statement from an email

You can find a bank statement online by also registering for a PDF to be mailed to you periodically. In fact, bank account statements are usually emailed to you in a password-protected PDF format by default and don’t require you to sign-up separately for it. Here’s how to download the PDF: 

  • Log in to your registered email account.
  • Search for the terms ‘bank statement’, ‘account statement’ or ‘transaction summary’. 
  • Once you find the email, click on the attached PDF and download it.
  • Once you download the bank statement PDF make sure to decrypt it or include the file password when you upload the statement somewhere.

In the case that you can not find the emails on the email ID you have registered with your bank, you can sign-up on the bank’s official website to receive them.

How to get a bank account statement without net banking

If you can not avail net banking services, you can still get a physical copy of your bank statement from an ATM by following these steps:

  • Visit your bank’s nearest ATM with your debit or credit card.
  • Enter your PIN.
  • Select the ‘Get mini statement’ or ‘Print mini statement’ option you can find on the screen.
  • You will receive a copy of your bank statement.

How to keep your bank account statement safe?

In case you receive your bank account statements by mail, it’s safe to keep them for about one year. However, if you can access your bank statements digitally, there’s no need for you to save them. This is because for most banks, you can download and print these statements for about 1-3 years afterwards. If you need even older bank statements, you can also contact the bank for physical copies.

Bank statement Vs. Transaction history

FAQs on Bank Statement

  1. Who can get my bank statement?

Bank account statements are meant to be private, so you are the only person who can get your bank statement by any legal means.

2. What do credit and debit on a bank account statement mean?

Credits are funds your bank account receives, while debits are funds that are dedicated from your bank account. 

3. Can a bank account statement be used as address proof?

Yes, according to the UIDAI (Unique Identification Authority of India), your most recent bank statement is among the documents accepted as valid proof of address.

4. Can a bank account statement be used as proof of income?

A bank statement not more than three months old can be considered proof of income, given that the statement comes from the bank where your salary is deposited. 

5. Do bank account statements work for applying for a passport or visa?

Yes, you can submit your bank statements as a proof of address when applying for a passport. As for a visa,  you have to submit a bank statement. This tells an embassy that you have enough funds to travel to their country, and you can spend money once there and contribute to their economy.

6. Can I get a bank account statement without a balance?

Yes, even if you don’t have a balance in your bank account, you can still download a bank statement PDF through your bank’s net banking services.

7. Can I get a bank account statement without transactions?

A bank account statement contains more than just the record of transactions you made within a specified period of time. So you can still request a bank statement even if you have not made any transactions within that time. 

What is a bank statement and why do you need to submit it with EarlySalary?

A bank statement is a summary of transactions over a given period that includes the account owner’s name and account number along with bank data, charges, deposits, withdrawals, and deductions. The initial and closing balances of accounts are also shown on a bank account statement. 

What is a bank statement?

In a nutshell, a statement lists all of the transactions that occur month after month, providing a summary of the account holder’s finances. Investors, debtors, lenders, company managers, and credit institutions need bank statement applications to establish a person’s creditworthiness. Credit card firms and banks require these statements in order to validate borrower applications. Applicants for any sort of mortgage, credit, or financial assistance will be required to provide bank transaction details for income and employment verification. 

Organisations require bank statements because they provide an overview of a person’s spending patterns, investments, and act as confirmation of identification. Bank statements are regarded as a suitable document for identity verification since they include personally identifiable information and may be used in conjunction with a variety of other documents.

Why does EarlySalary require your bank statements?

Financial institutions like EarlySalary require your account statements to ascertain your salary eligibility and creditworthiness. EarlySalary’s solutions such as Instant Cash Loans, Travel Loans, Wedding Loans, and Medical Loans require submitting a bank account statement as a mandatory step in the loan applications process. 
You can get Instant Cash Loans from EarlySalary through our completely digital and get your loan processed in 15 minutes.

Steps to get your bank account statement

A bank statement, also known as an account statement, is a bank-issued document that details the actions in a depositor’s savings or current account over the course of a given time and allows account holders to keep track of their transactions and accounts regularly. 

Bank statements are required as a mandatory document when applying for any loan. This article shows you how to get bank statements online or how to check bank statements online.

There are several ways to obtain a bank account statement: 

  1. Netbanking and Bank Apps

Both Netbanking and the official Bank applications follow pretty much the same process on how to get a bank statement. 

  • Login or perform a one-time registration on your bank’s netbanking portal.
  • Look for options that say ‘Download statement’ or ‘View transaction history’.
  • Select a date range to generate the bank account statement, and either click ‘Download’, ‘Send PDF or ‘Send on mt registered Email.
  • The account statement will now be emailed to you as an encrypted PDF or you’ll be provided with an option to directly download the PDF.

2. Check your registered email

Another method on how to take a bank statement online is by using your registered email.

  • Log in to the email account registered with your bank
  • Search for the terms ‘Bank statement’, ‘account statement’, or ‘transaction summary’. 
  • Banks send regular emails with bank statement in a PDF format that are password protected.
  • Download the file and make sure to decrypt it or include the file password while uploading the statement.

3. At an ATM

  • Visit your bank’s nearest ATM with your debit/credit card.
  • You’ll be required to enter your four-digit PIN number.
  • Select/Click on ‘Get mini statement’ or ‘Print mini statement’.
  • You will receive a printed copy of your account’s mini statement.

Most banks now provide online bank statements, making it easier for consumers to see their transaction history and keep track of their expenditures, although obtaining bank statements online is easy, simple, and free, it is not appropriate in a few situations. Some direct links to obtain a PDF account statement from popular banks are given below.

Canara Bank Net BankingState Bank of IndiaHDFC Bank
Axis BankICICI Bank Personal BankingBank of Baroda Net Banking
PNB BankBandhan BankHSBC Online Banking
Indian Bank Central BankUnion Bank e-statement