One Member One EPF Account service is available online on Unified Member Portal. Gone are days when companies used to provide different EPF account numbers on switching jobs. Thanks to UAN (Universal Account Number). UAN enables merging of multiple EPF account into one. It also offers services such as UAN Card, EPF Passbook download, SMS facility about PF contribution.
Going further, EPF has launched facility of PF transfer online. If you have frequently changed your job or if you are holding EPF account which is not yet transferred to current employer this post is for you. In this post, I will share the process to transfer EPF Account by using a facility called as One Member One EPF Account in Unified Member Portal.
Prior to this facility of “Online Transfer Portal” was used to transfer PF. Now new facility of One Member One EPF Account is launched on Unified Member portal. First of all, let’s take a look at What you require in order to use this facility.
The member should have UAN activated account with Mobile number details.
Bank Account number, IFSC Code of the employee should be seeded against UAN.
e-KYC details of UAN should be in the approved state.
Personal information and PF account related information in EPFO database should be correct.
Only one transfer request against the previous member ID can be accepted.
If above conditions are fulfilled, you can start transferring PF account by using following process –
One Member One EPF Account – How to Transfer EPF Account with UAN?
Visit Unified Member Portal and Login using your UAN Number and Password.
After login, click on ‘One Member – One EPF Account (Transfer Request)’ under Online Services Menu. It will show personal information and detail of PF account as per present employment.
Next is selecting and providing details of your previous EPF account. You can submit a transfer request to present employer or previous employer based on the availability of DSC. After that, you need to provide previous Member ID or UAN Number. In case your EPF account number format is old you can generate new member ID by clicking on ‘Get MID’ Option.
In the next step, you need to click on ‘Get OTP’ button to receive OTP at UAN registered mobile number. You need to enter this OTP and press submit button.
Once you submit this form request of transfer goes to the employer. Your employer needs to digitally approve this request for PF transfer.
As an additional step, you need to fill up Form 13 mentioning the detail of previous and present employer. The signed copy of Form 13 should be submitted to the employer within 10 days.
You must be aware that it is mandatory to produce a Premium Paid Certificate for insurance policies to avail of Income tax exemption benefits under section 80 C. A Premium Paid Certificate is a document issued by an insurer against payment of the premium amount. This document is generally required for the policies premium paid via ECS and NACH mode. For all other modes of payment, you get a premium receipt which will act as proof of income tax benefit.
If you have purchased LIC policy, and looking for the premium paid certificate you have three options. You can either contact your LIC agent, you can approach your branch office or you can download the LIC Premium Paid Certificate Online. Out of these first two options are time-consuming and cumbersome. Downloading the LIC Premium Paid Certificate Online is a smart way will save a lot of time.
Why Do You Need the LIC Premium Paid Certificate?
Before we jump into the how-to, let’s talk about the why. The LIC premium paid certificate is your golden ticket to tax savings. Here’s why it’s crucial –
Income Tax Deduction: The premiums you pay for life insurance policies are eligible for a deduction of up to ₹1.5 lakh under Section 80C. This means less taxable income and more money in your pocket.
Proof of Payment: It’s an official document that confirms your premium payments. If you’re ever questioned by the Income Tax Department, this certificate has your back.
Ease of Filing: Having all your documents in one place makes filing your income tax returns (ITR) a breeze. The LIC premium paid certificate is a vital piece of the puzzle.
Life Insurance Corporation of India (LIC) has launched a new facility for downloading LIC Premium Paid Certificates online via the e-service portal.
Download LIC Premium Paid Certificate Online For Income Tax
Follow the steps given below to download LIC Premium Paid Certificate Online.
1. Register Online for LIC e-Services
The first step is to register online at the LIC e-Services Portal. A facility of LIC e-Services is extended to a customer, branch manager, & agent. If you are already registered with e-Services use your User ID and Password for login. On the other hand, if you are a new user you have to sign up for using this facility. You need to provide the policy number, premium amount, mobile number, email, and Aadhaar details for registration.
2. Login to e-Service Portal
The second step is to log in to LIC’s e-Service portal using your USER ID, Password, and Birth date.
3. Go to the Basic Services
The next step is to click on the Basic Services option under My App. The basic service option allows you to access your premium calendar, policy schedule, claim status, and policy premium paid statements. Once you click on the Basic Service option you will be taken to the “Proceed” button. Press it to proceed further.
Go to Policy Premium Paid Statement from the left side navigation menu as shown in the image below. You will be taken to another page where you need to select Financial Year. Once you select the financial year system will display a list of policies along with installment premium details.
5. Select Policy for Premium Paid Statement
You need to select a policy for which a certificate is required. In case you are looking for a single consolidated statement, select all policies.
6. Generate a premium paid certificate
Click on the “Generate Statement” button given below the list and you will be able to download the Premium Paid Statement in a PDF format.
Make sure that your pop-up blocker is turned off else you will not able to download/see the statement.
The statement contains information about all selected policies including premium mode, amount, received date, collecting, and servicing branch. If you find any mismatch in the statement you have to contact LIC local branch.
Submit the LIC Premium Paid Certificate to your employer and claim income tax exemption under section 80C.
Alternative Method: Download Through the LIC Mobile App
For those who prefer managing everything on their smartphones, LIC’s official app, “LIC Digital,” has got you covered. Here’s how to do it:
Download the App – Get the app from Google Play Store or Apple App Store.
Login/Register – Use your credentials to log in. New user? Register first. If you are already registered, you can login via Username & Password or by entering mobile number and birthdate.
Navigate to Premium Statements – Now visit Basic services section. In this section, you can find “Online Payment Receipts”. Click on that.
Download – Now select Financial Year. Select your policy and click on the download button. Alternatively, you can select all and Download Policy Premium Receipt.
Premium Paid Statement – If you want to download entire statement. Click on Premium Paid Statement and follow on screen instruction to Generate Statement.
Tips to Keep in Mind
Ensure Correct Details: Double-check the policy details you enter. Any mismatch might delay the process.
Secure Your Login: Use a strong password for your LIC account and avoid sharing it with anyone.
Save Multiple Copies: Once downloaded, save the certificate in multiple places—your laptop, a USB drive, or even cloud storage. Better safe than sorry!
Keep It Handy: When filing your ITR, have this document ready to avoid last-minute scrambling.
FAQs
1. Can I get the premium paid certificate offline?
Absolutely! Visit your nearest LIC branch, and they’ll provide the certificate. However, the online method is much faster and hassle-free.
2. What if I forget my LIC portal password?
Don’t panic! Click on the “Forgot Password” option on the login page. You’ll receive a reset link on your registered email or phone.
3. Is the LIC premium paid certificate valid for all policies?
Yes, it’s valid for all LIC policies where premiums are eligible for tax deductions.
4. Can I download certificates for past years?
Yes, LIC’s portal usually allows you to access premium paid statements for multiple years. Select the relevant financial year when downloading.
5. Is there any fee for downloading the certificate?
Nope, downloading the LIC premium paid certificate is completely free of charge!
Final Words
Downloading your LIC premium paid certificate online is a game-changer. It’s quick, easy, and incredibly convenient—no more branch visits or paperwork hassles. Plus, it ensures you’re always prepared when tax season comes knocking. So, what are you waiting for? Log in, download, and tick off this essential task from your to-do list today.
Recently I have come across an advertisement for a personal loan. It says “A Personal loan for every possibility. Vacation, renovation, or debt consolidation – the options are endless – Instant Approval and low-interest rate.”
Hey, please don’t get me wrong, I am not here to market any types of loans. I am against a personal loan. I just want to share with you, How banks are targeting prospective customers in a trap.
As per me, one should manage finance in a manner that a situation does not arise to borrow money from anyone. But it is not always true. In life, we come across many emergency situations where we need money urgently. In such a situation of financial crisis personal loans are one which will come to your rescue.
Well, the decision to take a personal loan is entirely up to you. But, once you have made up your mind to avail of a personal loan, the next challenging task for you is to find the best bank offering personal loans. It is quite confusing as you will find multiple banks posting multiple lucrative offers in front of you. Apart from that, any gaps in evaluating a personal loan will cost you more money. In order to overcome these types of situations let’s take a look at the 5 Best Banks for Personal Loans in India.
Factors to consider while selecting personal loans
Cost
Cost is the prime factor of consideration when selecting a personal loan. The interest rate payable on the personal loan should be a minimum. Apart from the interest rate, one should also consider processing fees, administrative expenses, and documentation charges. Sum up all these expenses and compare them to find out the cheapest personal loan.
Convenience
The second factor for consideration is convenience. It should be easy and convenient to apply for a loan, get disbursement, make payments of a loan, and keep track of a loan.
Processing Time
Processing time is the next major factor. It is the time taken by the bank to process your request and credit your bank account with the loan amount. Ideally, it should take a few days or 24 hours to process the loan.
Closure
The loan should not contain any restriction on closure. If you want to close the loan before the due date you should have the freedom to do so. In addition to that bank should not attach any prepayment penalty or restriction whatsoever.
Terms and Condition
Terms and conditions of loan offer should be simple and clear. You should be able to understand them very easily. It should not contain multiple legal bindings and terms.
After going through the factors of selecting a personal loan. Let’s take a look at the 5 Best Banks for Personal Loans in India.
ICICI Bank is one of the best banks for availing personal loans at a low interest rate. ICICI bank offers fixed interest rate personal loans on a monthly reducing basis. ICICI bank offers loans up to 20 Lakhs without any collateral. Personal loan tenure in ICICI Bank varies from 1 year to 5 years.
Salaried individuals and self-employed both can avail of personal loans at ICICI banks. For simplicity, personal loans from ICICI Bank are divided into five types namely wedding loans, holiday loans, home renovation, top-up loans, and fresher funding.
Interest Rate
ICICI Bank Personal Loan Interest Rate – 10.80% to 16.15% per annum
Other Charges
Loan Processing Charges – Upto 2 % of loan amount – Non Refundable
Prepayment Charges – 3% on the principal outstanding amount. NIL after 12 EMI is paid
Late Payment Interest – 5% per annum will be charged on the overdue EMI until repayment
EMI Bounce Charges – ₹ 500 per bounce
Key Features
Selection of Loan tenure from 12 to 60 months.
Fixed interest loan. Interest will be charged on a monthly reducing basis.
Auto Debit ECS facility for repayment of EMI.
All-purpose loan with faster approval.
Eligibility Criteria
Salaried
Factor
Requirement
Age
20 years – 58 years
Net Salary
Minimum Monthly ₹ 30,000
Total years in Job
2 years
Years in Current Residence
1 year
Self Employed
Factor
Requirement
Age
23 years – 65 years
Minimum Turnover
₹ 40 Lakh for non-professional & ₹ 15 Lakh for Professional
Minimum Profit After Tax
₹ 2 Lakh for Proprietorship Firm / Self Employed
Business Stability
In current business for at least 3 years
Documents Required
Salaried –
Proof of Identity – Aadhaar Card / Passport / Driving License / PAN card
Proof of Residence – Utility Bill / Leave and License Agreement
Salary Slip of last 3 months
Last 3-month bank statement
Two Passport size photos
Self Employed –
Proof of Identity – Passport / Driving License / PAN card
Proof of Residence – Utility Bill / Leave and License Agreement
Income Proof (Audited finances for last two years)
SBI Bank is one of the best banks for a personal loan. SBI offers a low-interest personal loan with an interest charge on a daily reducing balance. SBI offers three types of personal loans namely SBI Xpress Credit Loan, SBI Pension Loan, and SBI Saral Personal Loan. SBI offers a personal loan of up to 10 Lakh. However, the loan amount will be variable based on your eligibility and income documents.
SBI Xpress Credit Loan
SBI Xpress Credit Loan is for salaried people maintaining salary accounts with SBI. This includes central state government employees, central PSU employees, and a few selected corporates.
SBI Pension Loan
SBI Pension Loan is for central or state government pensioner drawing pension via SBI with age less than 76 years.
SBI Xpress Flexi
SBI Xpress Flexi is an an Overdraft Personal Loan product for all Salaried customers having Monthly salary of ₹50000/- & above.
Interest Rate
SBI Bank Personal Loan Interest rate – 11.35% to 14.50% per annum
Other Charges
Loan processing Fees – 2 to 3% of the loan amount + GST
Prepayment Charges – 3% on prepaid amount
Late Fees – 24% per annum
Key Features
Interest is charged on a daily reducing balance.
Comparatively Less interest rate.
No hidden costs/administrative charges.
Maximum loan amount can go up to 24 times net monthly income.
Trustworthy brand with a wide network of SBI branches.
Eligibility Criteria
Salaried
Factor
Requirement
Age
21 years – 58 years
Net Salary
Minimum Monthly Rs.15000
Total years in Job
2 years
Salary Account With
SBI
Self Employed
Factor
Requirement
Age
21 years – 65 years
Minimum Profit After Tax
₹ 21 Lakh per year
Business Account with
SBI
Documents Required
Salaried –
ID Proof, Address Proof
Latest Salary Slip with Form 16
Two passport-size photos
Self Employed
ID Proof, Address Proof
Income Proof, Balance Sheet, or Income Tax Returns
Aditya Birla Personal Loan is given by Aditya Birla Capital. A personal loan by Aditya Birla is a popular name for ABFL personal loan or ABFL direct personal loan. ABFL provides online instant approval without any collateral.
Interest Rate
Aditya Birla Personal Loan Interest rate – 14% to 26% per annum
Other Charges
Loan processing Fees – 2.36 % of the Loan Amount
Key Features
Instant Online Loan Approval
Flexible loan tenure 1 year to 3 years
Minimum paper work and no branch visit required
Documents Required
PAN Card
Aadhaar Number
Bank Statement one year
Valid Business proof one year
HDFC Bank Personal Loan
HDFC Bank Personal loans are quick and convenient. HDFC Bank personal loan is given for multiple purposes including weddings, travel, home renovation, and medical expenses. Flexible tenure and competitive interest rates are additional advantages of HDFC personal loans.
Interest Rate
HDFC Bank Personal Loan Interest rate – 10.75% to 24% per annum.
Other Charges
Loan Processing Charges – ₹ 4999 + GST
Prepayment Charges – 2-4% of Principal Outstanding
Axis Bank offers a personal loan of up to ₹ 15 Lakh with a minimum document and quick approval. A unique feature of Axis Bank personal loans is zero charges on foreclosure and repayment. If you are sure that you will be able to close the loan quickly Axis Bank personal loan is a good option.
Interest Rate
Axis Bank Personal Loan Interest Rate – 11.25% to 24% per annum.
Other Charges
Loan Processing Charges – 2% + GST
Prepayment/Foreclosure Charges – NIL
Default Interest Rate – 24% per annum
Key Features
No prepayment or foreclosure charges.
Facility to earn additional rewards via Axis eDGE Reward point program.
Loan Transfer facility
Eligibility Criteria
Salaried and self-employed
Factor
Requirement
Age
21 years – 60 years
Income
Minimum Monthly Rs.15000
Documents Required
ID Proof
Income Proof
Bank Statement
Residence Proof
Photograph
Signature verification proof
Conclusion –
Whatever is your financial crisis and personal circumstances, you should compare the features of all personal loans available in the market including the cost factor. This will help you to make a wise decision while borrowing money.
Forex Cards are prepaid foreign currency cards used for making payment when you are traveling abroad. Be it a family vacation or business trip, traveling abroad is a fun!
Well, you need money for spending while traveling abroad. If you don’t want to take a headache of handling a cash and exchanging currency while traveling, forex card is the best option for you.
There are number of forex cards available in the market. Selecting a best forex cards among them is a task. In order to help you, I am here with features and comparison of Best Forex Cards in India.
What are Forex Cards?
Forex Cards are prepaid ready to use cards in a regional currency. This card is available with fix amount. You can top up this card based your requirement. This card also allows you to withdraw cash in a foreign currency. Prepaid Card, Travel Credit Card, Prepaid Travel Money Card are other names of Forex Card.
Why Forex Card is better compared to Credit Card?
Forex card is cost effective compared to a credit card. In credit cards, you need to pay a service charge of 3-6% for usage. In addition to that, you need to pay a flat fee for withdrawals at ATM. Any delay in bill payment of credit card will attract a penalty.
In forex card, you need not to pay any service charge. ATM cash withdrawal fee is less in forex card. In addition to that, you can avoid currency conversion charges as cards are available in major currencies. It also allows you to use Top-up facility.
IndusInd Multi Currency Forex Card is also known as Indus Multicurrency card. It is best forex card available in the market as of now. Ease of getting card and low charges are plus points of this card. Let’s look at features and benefits of this card.
IndusInd Multi Currency Forex Card – Features and Benefits
Hassle free faster online process. You will get delivery of this card within 24 hours.
Facility to track balance of card through online website.
Secure cash withdrawal via ATM.
Zero currency conversion charges and zero ATM withdrawal fee.
Very low card issuance fee.
Fee & Charges
IndusInd Multi Currency Forex Card Issuance Fee – Rs.150
Reload Fee – Rs.100 per reload
Balance Enquiry – 0.50 USD
ATM Cash Withdrawal – 2 USD
Currencies Supported
IndusInd Multi Currency Forex Card support eight different currencies including USD, Euro, AUD, GBP, SGD, AED, CAD and SAR.
HDFC Regalia Forex Plus Card is one of the best forex card in India. The name of this card is kept from famous HDFC Regalia Credit Card. USP of this card is No cross currency conversion charges, which is very useful. HDFC Multicurrency Forex Chip Card also provides similar features, but Regalia Forex Plus provides extra features and benefits.
HDFC Regalia ForexPlus Card – Features and Benefits
This forex card claims that they do not charge any cross currency conversion fee. However, GST is applicable on currency conversion.
This card provides complimentary Airport Lounge access.
You can use this card online at e-commerce platforms.
HDFC Regalia Forex Plus Card offers cashback of 5% or 5x Reward point offer.
Emergency Cash delivery at overseas location.
Fee & Charges
HDFC Bank Regalia ForexPlus Card Issuance Fee – Rs.1000
Reload Fee – Rs.75 per reload
Balance Enquiry – 0.50 USD
ATM Cash Withdrawal – 4 USD
Currencies Supported
HDFC Regalia ForexPlus card support wide range of currencies like AUD, AED, CAD, CHF, Euro, GBP, SGD, SEK, and USD. However, for simplicity you can load only one currency USD.
Thomas Cook Borderless Multi Currency Prepaid Card
Thomas Cook Borderless Multi Currency Prepaid card is marketed as one card supporting 8 different currencies. This card is globally accepted at 35.2 million merchant establishments. Let’s take a look at benefit and features of this card.
Thomas Cook Forex Card – Features and Benefits
Load up to eight currencies in a single card.
Access to wide range of merchant establishment and ATMs.
Free replacement of lost or stolen card.
Customer portal to check balance and statement.
Dedicated customer support and emergency service.
Insurance cover upto USD 10,000
Fee & Charges
Thomas Cook Borderless Multi Currency Prepaid Card Issuance Fees – Rs.150
Reload Fees – Rs.100
Currencies Supported
Thomas Prepaid card supports eight currency USD, Euro, AUD, Swiss Franc, GBP, Yen, CAD and SGD.
Axis Bank Multi Currency Forex Card is a unique card supporting 16 different currencies. It is forex card exclusively designed for the people traveling extensively. Feature and benefit detail of this card is given below.
Axis Bank Multi Currency Forex Card – Features and Benefits
Single Card supporting up to 16 different currencies.
Locked-in exchange rates.
Emergency assistance with emergency cash delivery facility.
Insurance coverage up to Rs.3 Lakh for lost and stolen card.
Encash your refunds once you return.
Validity up to 5 Years.
Fee & Charges
Axis Bank Multi Currency Forex Card Issuance Fees – Rs.300 + GST
Reload Fees – Rs.100 + GST
Add on Card Fee – Rs.100 + GST
Cash Withdrawal – 2 USD
Balance Inquiry – 0.5 USD
Currencies Supported
16 Currencies supported by Axis Bank Multi Currency Forex Card are USD, EUR, GBP, SGD, AUD, CAD, JPY, CHF, SEK, THB, AED, SAR, HKD, NZD, DKK and ZAR.
How to Apply for Forex Cards?
You need to apply to a specific bank for this card. You need to fill up an application form. Along with form you need to submit following documents –
Valid Passport
Valid Visa of the country of your travel (except where visa on arrival is applicable)
Confirmed Ticket with Travel within 60 days.
Pan Card
On verification of documents, you will be asked to make payment. Once this process is completed you will receive a card from the bank. Some bank may ask additional document along with the application.
