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7 Best Mobile Wallets in India

Best Mobile Wallets India

Mobile wallets are growing popularity in India. A mobile wallet is a mobile application where one can store money virtually for making online and offline payments. Mobile wallets are classified in multiple types such as open, semi-open, semi-closed and closed. This classification is based on the type of usage permitted by the wallet. You should always prefer an open system wallet. An open wallet can be used for buying goods and services, withdrawal of cash or transfer of payments.

Here is a list of 7 most popular Mobile Wallets in India and their key features.

Also Read – 5 Best Mobile Banking App in India 2019

7 Best Mobile Wallets in India

Paytm

Paytm is the best mobile wallet in India. It is my favorite mobile wallet. Paytm mobile wallet is a semi-closed wallet. Initially, this wallet was launched with basic wallet services at a later stage it was converted to an e-commerce store where shopping can be done for clothes, electronics, furniture, home-appliance etc. Key features and benefits offered by Paytm wallet are given below.

  • You can link your bank account to create BHIM UPI ID & UPI PIN. You can use your bank account or create saving account with Paytm Payment bank.
  • A security feature of locking app via screen lock/passcode/pattern/voice lock etc.
  • The Paytm charges 1% on payment via credit card, 0.9% for debit cards and Rs.12-15 via net banking.
  • One can generate QR code for the acceptance of payment.
  • Monthly transaction up to 1 Lakh is allowed via this mobile wallet.
  • You can use this wallet for money transfer from wallet to wallet and bank account to bank account.
  • Utility bill payment and mobile recharge bill payment are additional features of this app.
  • You can also do online shopping at e-commerce store available at Paytm.
  • Buying gold to paying toll, Loan payment, investment and forex everything is available in Paytm.

Google Pay

G Pay or Google Pay is the best mobile wallet in India. Google Pay was earlier known as Google Tez. This wallet allows you to use any bank for making a transaction. Google Pay make transaction fast and super easy. You can quickly pay and receive payments using a mobile number, email id or by QR code using this app. All transactions carried out via Google Pay is secure. You need not go for KYC for using Google pay. Features offered by Google Pay are given below.

  • Send and receive money from your bank account. G Pay works with all banks and supports BHIM UPI.
  • Protected wallet via phone PIN or pattern. Each transaction via G Pay is secured using UPI PIN.
  • Pay to anyone with or without G Pay.
  • Book IRCTC tickets with a click of a button. It supports Tatkal bookings and instant refunds.
  • You can pay bill and recharge your mobile, DTH using this wallet.
  • G Pay allows you to buy and sell gold online with a click of a button.
  • Google Pay also offers referral program where you can earn money for referring to your friend.

ICICI Pocket

ICICI Pocket is VISA powered wallet that can be used for recharge of mobile, send money, shopping etc. ICICI Pocket allows you to pay anyone on mobile number, Whatsapp contact, Google+ or Facebook ID. It is a secured app that requires a login username and password for login. You need to fund this wallet before using it. You can use a debit card, bank account or NEFT for doing a transaction. Benefits offered by ICICI Pocket are given below.

  • Dashboard for all relationship and favorite people in one place.
  • Transfer money to your contact easily using UPI.
  • Bill payment, utility bill payment and recharge of DTH and mobile.
  • Exclusive deals and cashback benefits from various brands.
  • Split bill with friends.
  • You can send gift to your loved ones.

PhonePe

PhonePe is a semi-closed mobile wallet. PhonePe allows you to transact up to 1 Lakh 24×7. PhonePe works on UPI. You just need to link your bank account for transactions. This app provides a seamless payment experience. In addition to UPI, you can use options like a debit card and credit card to make payment. It is a multilingual app. Features offered by the PhonePe app are given below.

  • Send and receive money to anyone anytime.
  • Pay Utility bills such as electricity bill, gas bill, water bill etc.
  • Check your bank balance and manage multiple bank accounts.
  • Split fund facility to divide payment among friends.
  • Get Instant refund or cashback from merchants.
  • You can’t transfer cashback rewards to bank account.

HDFC PayZapp

HDFC PayZapp is a mobile wallet by HDFC Bank. It is a complete payment solution in a single app. HDFC PayZapp allows you to perform all money-related transactions on the move. You can link your debit card, credit card, bank account to HDFC PayZapp for performing transactions. Features and benefits of HDFC PayZapp are given below.

  • Security of App using PayZapp PIN.
  • Send and receive payment to mobile number via HDFC PayZapp.
  • 5% cashback on recharge, bill payment, movies and grocery purchase.
  • No need to load money to wallet.
  • Secure transactions using proprietary technology.

MobiKwik

MobiKwik is next in the list of Best mobile wallets. It is an impendent mobile app. Initially, this app was launched as a mobile recharge app. However, at a later stage, multiple features such as bank account transfer, shopping, investment are added. Features supported by MobiKwik are given below.

  • Mobile recharge, bill payment, recharge facility.
  • Transfer money from credit card to bank account, bank to bank and wallet to wallet.
  • Small and instant personal loan facility.
  • Insurance and mutual fund investment facility.
  • Investment in digital gold.
  • Expense manager for tracking expenses.
  • Reward points and redeem facility.

BHIM Axis Pay

BHIM Axis Pay is one of the best mobile wallets. BHIM Axis pay allows you to do an instant money transfer, mobile recharge, utility bill payment etc. This app can be used by the axis bank customer as well as non-axis bank customers. Features and benefits of BHIM Axis Pay are given below.

  • Transfer money from your mobile app to any bank account using UPI ID without knowing bank account details.
  • Online recharge and utility bill payments.
  • Multiple account can be added in this app. You can check balance of linked account.
  • No transaction fee for sending and receiving money.
  • QR code generation and payment.

Over to you –

Which mobile wallet is used by you and why? Do share your experience in the comment section given below.

Festival Loan Offers for Festival Expenses

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festival loan

Festival season is started and if you need funds for purchasing big-ticket items in the festivals you can avail festival loan. Festival loan offers includes reduced EMI, zero down payment and fee waiver facility. Most of the lending institutions and banks offer festival loans with attractive benefits. In this post, I will share complete information of festival loans, features, and comparison.

What is Festival Loan?

The loan offered by a bank or lending institute during festival season at a cheaper or discounted rate is known as festival loan. These types of loans are offered to lure customers for increasing their spending. You can use this loan amount to meet any type of festival-related expenses.

Festival loan is one type of personal loan with a few additional benefits. Festival loans are more economical compared to a personal loan. The festival loan is offered only if you meet the eligibility criterion set by the bank or financial institute. These types of loans are also known as short term personal loans. Key features and factors to consider while opting for festival loans are given below.

Also Read – Best Business Loans in India for Small Businesses

Features and factors to consider while opting for festival loans

Amount

The first thing to consider is the amount of loan offered by a bank or financial institution. Festival loans are given with amount as low as Rs.5000. The maximum amount of loan offered under this scheme is Rs.50000 or 4 times of your Net Monthly Income.

Loan Tenure

Loan Tenure is the next factor to check while opting for the this loan. The tenure of the loan is generally restricted to 12 months. No Prepayment charges are applicable for this loan.

Additional Festival Benefits

Few banks offer additional festival benefits such as additional discount and cashback benefits. You will also get an additional benefit of a lucky draw, where you can win exciting prizes.

Processing Fees

The next factor to consider while opting for a festival loan is a processing fee. In general, the processing fee of these types of loan is as low as 1% of loan amount.

Interest Rates

Interest rate is the next important factor to consider before availing a loan. The interest rate of the festival loan is lower compared to a personal loan. In general, you can get this loan with an interest rate 13-15%.

Documents required

You will need the following documents for availing a loan.

  • Application Form
  • Passport size photograph
  • Residence Proof
  • Salary Certificate / Slip from employer
  • Form No.16 (Latest)
  • Form No.135 of the bank, duly filed in by borrower and guarantor

Popular Festival Loans in India

#1 SBI Festival Loan

SBI Festival Loan is a unique facility that helps you to meet all types of festival expenses. The minimum loan amount is Rs.5000 and the maximum loan amount is Rs.50000. No marginal money required to avail a loan. Eligibility conditions for SBI Festival Loan are given below.

  • Government or PSU employee with minimum of 2 years of service.
  • Self-employed with 3 years of experience.
  • Net monthly income should be Rs.3000 or above.
  • Your spouse income can also be considered in calculating loan amount.

The interest rate is lower and processing fee is 1% of loan amount + GST.

#2 HDFC Festive Treats

HDFC Festive Treats consist of multiple loan offers for various purposes. This includes personal and car loan, Two-wheeler loan, Gold Loan, Business growth loan, digital loan against mutual fund and loan against property.

  • Major discount is offered on the multiple products.
  • Cashback offer up to Rs.7000 is offered on selected products.
  • Instant discount up to 15% is offered on certain electronic products.
  • Up to 50% off on processing fee of business loans.
  • This offer is provided for the limited period of time festival season.

#3 Bank of Baroda Happy Life Festival

Bank of Baroda has come up with Happy Life Festival this season. Under this scheme, BOB will offer attractive loan offers and benefits on home loans, car loans and debit cards, credit cards. BOB is offering a loan on the discounted interest rate as a part of the Happy Life Festival. The loan offered by Bank of Baroda is for a specific product such as home, car etc.

Should you opt for festival loan?

There are multiple options to withstand credit crunch in the festival season such as credit card, zero-percent loan, personal loan, Easy EMI option etc.

Festival loan is a lucrative option compared to personal loan and other alternatives. The processing fee for this loan is low. The documentation required is minimum & no security required for this loan.  Even no prepayment penalty applicable to this loan.

Let’s compare festival loans with a personal loan and credit card EMI.

Features Festival Loans Personal Loan Credit Card EMI
Amount Up to Rs.50000 15 to 20 Lakh Up to Credit Card Limit
Tenure 12 Months Up to 5 Years Up to 3 years
Penalty Prepayment Penalty Prepayment Penalty No Prepayment Penalty
Processing Faster Processing Slow Processing Faster Processing
Margin Money No Marginal Amount Marginal Amount No Marginal Amount
Interest Rate 13-15% 15-18% 30-40%

From the above comparison, one can easily say that festival loan is the best option concerning interest rates and other features. However, the loan amount is limited to Rs.50000.

Festival loans are designed to attract you to go for impulsive purchases. You can get instant fulfillment at the initial stage, however, you need to pay an interest rate on the loan amount. This will cost you additional money. You should go for this option if it is absolutely necessary.

5 Famous Credit Card for Self-Employed

Credit Card for Self-Employed – A credit card has become an integral part of our life. We cannot imagine our life without credit cards. There are multiple types of credit cards available in the market. Starting from salaried people to self-employed credit cards are available for everyone. For self-employed and entrepreneurs credit cards are more beneficial as it provides multiple features for running and growing a business. If you are a self-employed person such as a freelancer, independent contractor, or in a profession where your income is dependent on your skills, it is somewhat difficult to get a credit card. Here is a complete guide that will help you in making a selection of the right credit card for self-employed.

credit card self employed

How to Apply for a Credit Card? – Self Employed

It is very easy to apply for a credit card for self-employed people. You need to contact your trusted bank or Credit Card Company and apply for the required credit card. You are required to submit the necessary documents to prove your eligibility for the card.

Make sure to go through the features, terms and conditions, and benefits offered before applying for the credit card.

Also Read – 10 Best Popular Business Credit Cards in India

Eligibility

The general eligibility criteria for self-employed to get a credit card are given below.

Credit Score – The Bank will check your credit score before approving your credit card. Your credit score should be 750 or above. You can build a good credit score by managing a good credit history.

Income – The Bank or Credit Card Company will check for your income statement at the time of approving the credit card. They may ask for the last three years’ income tax returns to assess your income. A minimum monthly income of ₹25000 is considered a good income for getting credit card approval.

Credit Utilization Ratio – The credit utilization ratio is the next factor of consideration. The credit utilization ratio means the amount of credit being used with respect to the total credit available. A low credit utilization ratio increases the chance of getting faster credit card approval.

Repayment Record – The bank will also check your repayment and default history. You should maintain healthy repayment records.

Age – You must be above 21 years of age to get a credit card.

Documents required by Self Employed to apply for Credit Card

Self-employed people need to submit the following documents while applying for a credit card.

  • Aadhaar Card
  • PAN Card
  • ID and Business proof
  • Income Proof – Latest Income tax returns
  • Bank account statements
  • Colored photographs

Features to be checked before opting for credit card

Self-employed people must consider the following features while evaluating credit card.

Business Saving – The first feature to look for while selecting a business credit card is cashback or savings offered by the card. You should select a card that offers lucrative business benefits.

Travel rewards – If you are a frequent traveler you should look at the benefits offered by the credit card on travel. Many credit card offers attractive benefits on the travel ticket including cashback and airport travel lounge access.

Reward Points – You should also look at the reward points offered by the credit card along with a method for the redemption of reward points. The credit card should be highly rewarding.

Spend analyzer – To do spend analysis for a business is somewhat challenging. To overcome this challenge you should select a credit card that offers a spend analyzer facility.

Interest-free credit period – The interest-free credit period is the next factor for consideration. The higher the credit period better is the card.

Joining Fee/Annual Fee – The next important point to check is the joining fee/annual fee for the renewal.

Credit card overdue interest rate – The overdue interest rate is the next important factor to consider. The overdue interest rate should be as low as possible.

5 Famous Credit Card for Self-Employed

#1 HDFC Business Regalia Credit Card

HDFC Business Regalia Credit Card is one of the best premium category credit cards suitable for self-employed and businessmen. This card offers a plethora of travel and luxury benefits. The key benefits of the HDFC Business Regalia credit card are given below.

  • 5% cashback on key business transactions telecom, electricity, hotel, dining, and taxi.
  • Earn 4 reward points on every ₹150 spent.
  • Lowest Foreign currency markup fee of 2% on international transactions.
  • 50 Days Interest-Free Credit Period
  • Travel Concierge Services.
  • Free accidental death insurance.
  • Earn extra reward spending on crossing the annual spending limit.

Annual Fees – ₹2500 + GST

#2 American Express ICICI Bank Business Essential Card

ICICI Bank Business Essential Card is next on the list of cards for self-employed. This card is issued in association with American Express. This credit card is suitable for business as well as lifestyle needs. Key features of the ICICI Bank Business Essential Card are given below.

  • Joining bonus of 1500 payback points from ICICI bank.
  • Reward points in terms of payback for transactions such as dining, car rental, airline, etc.
  • Convert payback points to air miles that can be used for travel using Jet Airways.
  • Save 15% on the dining bills.
  • Selected American Express benefits.

Annual Fees – ₹1000 + GST

#3 SBI Platinum Corporate Credit Card

SBI Platinum Corporate Credit card is a globally accepted credit card with multiple benefits including smarter expense management. The privileges that you can get by using this card are given below.

  • Globally accepted credit card.
  • Analyze the entire organization’s spending pattern using a spend management tool.
  • Multilayer spend control facility.
  • Fraud-related insurance coverage of 2 Lakh.
  • Discount offer on the travel tickets.

Annual Fees – NIL

#4 Axis Bank MY Business Credit Card

Axis Bank MY Business Credit card is one of the best credit cards for businessmen and self-employed people. Attractive interest rates, business saving plans, and airport lounge access are a few benefits of Axis Bank MY Business Credit Card.

  • Attractive business saving plan.
  • 1 Reward point on every ₹100 Spend.
  • 3 Reward points on every ₹200 International Spend.
  • Fuel surcharge waiver.
  • Free Airport lounge access.
  • Cash advance facility.
  • Pay Utility bills automatically.

Annual Fees – NIL

#5 Citibank Corporate Credit Card

Citibank corporate credit card offers exclusive benefits for business expenses. Key features and benefits offered by Citibank Corporate Credit card are given below.

  • Online tool to manage all expenses.
  • Exclusive offers on business products and services including travel, hotel stay, car rental.
  • Facility of issuing advance foreign exchange for travel.
  • Dining privileges up to 15% saving on dining bills.
  • Never expiring reward points with every purchase.
  • Dedicated relationship manager.

Note – The above credit cards are suitable for big business as well as self-employed people.

15 Rural Small Town Business Ideas for 2025

Rural Small Town Business Ideas are business ideas that are appropriate for rural or small-town areas. These business ideas are low cost, easy to start and made for low population areas.

People nowadays think of starting a business in big cities however, as per me a small town or village is a better option to start the business. You are likely to face lower competition in small-town areas for the business. The investment required in rural businesses is low.

So, if you are living in a small-town or if you are interested in traveling to a rural area to start your own business, then you will find this article interesting. Here is a list of 15 Rural Small Town Business Ideas for aspiring entrepreneurs of rural areas.

small town business ideas

Also Read – 99 Business Ideas with low investment

15 Rural Small Town Business Ideas for 2025

#1 Restaurant

Opening a restaurant is one of the best business ideas for a small town. You will need a small space and a good team to open a restaurant. The investment required for a restaurant business is moderate. You will need FSSAI registration and local municipality registration to open a restaurant. You can source Restaurant Equipment and Supplies from – https://www.nellaonline.com/

#2 Vegetable and Fruit Mart

A second business option for the rural area is starting a vegetable and fruit mart. As vegetable and fruit are produced in the rural area availability of fruit and vegetable is high. You can take a rented shop and start vegetable and fruit retail or wholesale business. It is a low-cost business with a very good profit margin.

#3 Food Retailing

Food retailing is an excellent business option for rural as well as urban areas. Food retailer keeps all food-related packed items (non-perishable items) in the store. It is as good as a grocery store with only food-related packed items. It is a growing business with a lot of opportunities.

#4 Mobile Phone Accessories Store

Mobile Phone Accessories store is next in the list of rural business ideas. The usage of mobile phones is skyrocketing. Along with the increase in the usage of mobile phone requirements of accessories such as mobile covers, chargers, headphone, and other items are growing. One can open a store for keeping all mobile phone accessories. Along with mobile phone accessories, one can go for mobile recharge business.

#5 Fertilizer and Seed Store

Agriculture is one of the prime business of the rural area. Thus starting fertilizer and seed store is a promising business option for the rural area. In this business, you need to sell fertilizer and seeds in your shop. It is advisable to tie up and keep fertilizer and seeds for multiple companies. In addition to fertilizer, you can sell pesticides in your shop.

#6 Flower Business

Flower business or florist is next on the list of small-town business ideas. In this business, you need to sell flowers. It is a low investment evergreen business option. The requirement of flowers will always remain due to regional usage and use in marriage and other events. In rural area availability of flowers is high. In addition to the above, you can purchase flowers from a rural area and sell them in the urban area.

#7 Organic Farming

Organic farming means naturally farming of crops without using fertilizer, pesticides, and chemicals. One can start an organic farming business in the rural area. In a rural area, a lot of lands is available at a lower cost. If you have expertise in farming you can enter into an evergreen business of organic farming.

#8 Readymade Cloth Store

Readymade Cloth store is one of the best business options for the small town. In readymade cloth stores you need to keep readymade cloths. You can keep the cloth of ladies, gents as well as kids. You will need a small rented shop to start this business. As it is a rural area, it is advisable to keep clothes with economic range.

#9 Pharmacy Store

Opening a pharmacy store is next on the list. You need to have a license of pharmacy to open a pharmacy store. As pharmacy is one of the essential requirement the chance of getting success in the pharmacy business is very high.

#10 Fish Farming

Fish farming means farming of fish in the artificial environment and tanks/pounds. The requirement of fish is very high in the domestic as well as abroad. Thus starting a fish farming makes sense. Investment required for fish farming is high. You will require land, suitable environment as well as knowledge to start fish farming.

#11 Poultry Farming

Poultry farming means animal husbandry to raise birds such as chickens, ducks etc. The basic idea here is to deal with eggs and meat of animals.  In this business, you need to take the utmost care in terms of the living environment, feeding and other basic requirements. It is advisable to gain some experience before starting poultry farming.

#12 Computer Training Course

A computer expert can plan to start a computer training course business in the small town area. Computer experts are required in almost every small or big business. So, people are ready to spend money on learning computer. At an initial stage, you can start a basic course on word, excel, and powerpoint. At a later stage, you can start an advanced course related to computers and IT.

#13 Farm Equipment maintenance

Farm equipment’s are widely used in rural areas for farming. Almost every farm equipment’s required maintenance over a period of time. So, it is a good idea to start farm equipment maintenance business in the rural area. You require expert manpower with knowledge of farm equipment to start this business.

#14 Crop production labor services

Farming is one of the core professions in rural areas. To do farming most of the people are dependent on farm labor. If you are good at manpower management you can start crop production and labor services business.

#15 Grocery Shop

The first small town business idea is starting a grocery shop. A grocery shop is a place where you need to sell household items and grain. At an initial stage, you can take a shop on rent to start a grocery shop. You can tie up directly with framers for purchasing grain. This will help you in gaining a higher profit margin.   

Over to you –

I hope you have got a complete understanding of popular rural small town business ideas.

For more information please post your questions in the comment section given below.