My credit card limit is 30k and I want to buy laptop (price 46k). How I can buy?
If you do not have problem of instant liquidity, then load your credit card with 16k first by making a NEFT transaction of said amount to your card. Now you can buy a product worth rupees 46k with your card. If you donot have liquidity, check for overdraft limit with your bank, if they permits you can make the transaction but this will mean heavy charges on your card. So try avoiding it. Some E-commerce websites and most offline stores allow using multiple cards for a single payment. You can use that facility to pay 30k with your credit card and remaining money by other card or another mode. But here you will loose on some benefit you might be geting from the payment via your card like cashback offers.P.S. - EMI won't work as suggested by some, as even for an EMI transaction you need to have the credit limit available in your card. Also, an EMI transaction blocks the card's credit limit for the unpayed amount.
Can I buy a phone of 35000 on EMI if my credit card limit is only 30000? Yes or no? If yes, what are the problems I have to face?
Yes you can. If you are swiping it at a POS then its the EMI amount that is checked against your credit limit not the value of the goods. I don’t foresee any problems. Even if the Bank for some reason does check the total value of the purchase against the Credit Limit you can talk to the help desk to resolve it.
My credit card limit is 10000. Can I able to buy a mobile worth 40000 on EMI process?
Yes ofcourse you can but definitely not on this credit card with 10k limit.It goes like this if you make merchant payment and choose to pay by EMI then what actually happens is first 40,000 is charged to your account and then it gets converted to merchant EMI. Which means 40k debit first and then 40k credits back with debit of EMI account.So this is real story specifically for SBI and Axis which I have tried by now.Even one it happened in 2 different cycles as well so credit and debit took place in different bill settlement.I am sure it helps.
My credit card limit is 20k and I wanna buy an 30k mobile using EMI, is it possible?
This is not really possible as the current EMI offers on credit card first charge you the entire amount and then remit the balance amount after deucting the first instalment.However, you can try applying for third-party EMI provider like Bajaj Finserv. This should help you buy the 30 grand phone on EMI
Can I buy the item in emi which is above the credit card (total amount without emi) limit?
In most cases, all transactions that you make are required to be within the credit limit of the card that you possess. In case the item that you want to buy is priced more than your credit limit, your card may allow it depending on the repayment history you have. However, you will have to incur hefty charges for this extra amount. In case the item is priced way over your credit limit, then you cannot purchase it with your credit card. Your relationship with the bank also plays a vital role here.In case your purchase goes beyond the limit, it is taken as a loan. All subsequent purchases will then be stopped till it comes below this credit limit again. When it comes to EMI finance and EMI card options, you can choose Bajaj Finserv EMI card. Which is a pre-approved loan offering that you can use to purchase all your desired products across multiple categories and at multiple online and offline stores. Once you select the EMI plan and swipe the card, instant approvals are provided. You do not need any documents and can choose flexible tenures as well.You will also be able to enjoy several pre-approved offers on your card which definitely sweeten your deal! Your card limit generally varies between INR 30, 000-3, 00, 000 which is the maximum loan amount that you can get. This is not a credit card; instead, it enables you to transfer your purchases into low cost EMIs. Now you can buy your favorite lifestyle, digital and other consumer products in addition to apparel, accessories, appliances and what not! You can also book hotels and holiday packages with this card. This is certainly a better option as compared to shopping online with a regular credit card in case the desired item goes beyond the card limit. The charges are also lower in this case.For more information on easy EMIs, click here.
What is the best way to save money to buy a mobile phone like OnePlus 6?
Considering the fact that you are asking about “how to save money to buy phone” rather than “how to get best deals on phone” my answer would be go for emi, that is what most people do. Most flagships accompany themselves with some good emi offers,No one is going to chip out 1 lac rs cash for that iphone X.However,if come from family which stresses on buying things without any kind of debt,we have got one simple way.-Know when the phone you are planning to biy is getting launched.-Decide when you want to buy it(Pro tip: Buy it as soon as it releases to unlock some good deals or atleast wait for 2 to 3 months and let the price drop)-Know the price of your prospective purchase.You can always expect a oneplus device to be around 35–40k and an iphone to be around 70–80k.-Save some money each month in a way that you have enough at the time you want to buy your next daily driver.Last tip(Comes straight out from an indian): If you are young and have just started your career, and if your salary allows you to either live lavishly or invest,you may invest.Work for money first and let the money work for you later.Peace :)
Where and how do you invest your monthly salary?
Hi All,Awasum answers across from many intellectuals. Thank you for that.My answer’s context is India.Here is my answer and I KIS (keep it simple).Here is some back ground, a married with one 9 year old and staying with my parents. House is paid off and no loans.Age: 36Working Experience- 13 yearsQualification- M.TechI generally do not believe in loans until recent. one of my adviser told me to take home loan and use that money for buying another property as it will give me money at effective rate of 7 % after deducting Tax benefits.I have bought a real estate property again in tier 1 metro city (1.1 Cr.) which is on rent. No loans and fully paid off property.Pointers-I do not buy new phones, all my and wife’s cell phones are used one, I take utmost care while getting a used one, mostly from online portals. I straight away save 30% as I find some phones which are used for just 2- 3 months and available at very cheap rates, I bought a VIVO NEX almost new at 28KWe live frugal, lower middle class life style. Not much fancy and sometime boringMe and wife both believe in simple living and high thinking, we invest in books, holidays, great and quality food and experiencesWe invest in health and things which adds value to life and not lifestyle, we have joined a gym which is nearby but the cheapest in our area. Primary reason is, if the gym is far after a while it will be boring to go everyday. I have never missed 4 days gym in past 5 yearsMy son goes to international board, again nearby my home so no bus expenses, wife goes to drop and pick himSon goes to extra curricular activities everyday- learning chess, guitar, grammars and spoken English etc.No expenses for parents, they take care of them selvesNo liabilities, no loans~70% income goes in savingsPeople say I am miser, I believe them :-)Wife earns 60K a year, she does not invest, she mostly spends in charity, miscellaneous expensesI drive a Honda 2012 model, one of my bike is 12 year old and other one is 1 year oldI use bike going to office, I read some where that “If you are going alone in a car everyday to your workplace, do not consider your self educated”Suggestions are always welcome.Thank you!Edit1: thank you Venkatesh for the suggested edit