CategoryPersonal Finance

Learn all about personal finance and how to make the best of it. How to articles, tips and tricks from experts at CRED.

The LTC cash voucher scheme: a secret way to save up on income tax


the finance minister announced changes to the attractive LTC scheme (leave travel concession cash), allowing government and private sector employees to claim the LTC fare exempt from income tax. what is it? the LTC scheme originally allowed for tax exemption on the expenses for travel (air, rail or bus fare) to any place in India.  since travelling is not a preferred option for most in the...

The 2021 Union Budget is a comma and not an exclamation point


At 11am, when Nirmala Sitharaman started to read out the budget, she spent the first 25 minutes going over what the government had announced just five months ago. If you really think about it, this is the Finance Minister’s fourth budget in the past year.  The first was the 2020 union budget last February. The second was during the lockdown when the government said they were pumping cash...

Debt Payoff Calculator – India


Debt-free living is everyone’s dream. But sometimes, we just fall deeper and deeper into debts, and it feels like there is no way out of them. However, it would be easier to plan a loan repayment if you know how much time it would take to steer clear of the debts by paying a certain sum of money each month. If you are curious about your loan repayment details, a Debt Payoff Calculator can be of...

Credit Card EMI Calculator – India

How to repay loans

Credit cards offer you the facility of paying your bill through EMIs or equated monthly instalments. Each instalment includes the principal loan amount you owe to the Bank and the interest. This instalment has to be paid every month by the due date or else you need to pay the penalty.  It’s important for you to monitor your payments monthly and set a reminder for the due dates. You could...

Is it Wise to Take a Personal Loan to Pay off Your Credit Card Debt?

Credit Card Debt Payment

Credit cards are a reliable source of funds which you can use to spend on shopping, utility bills, vacation, or emergencies. With the help of a credit card, you can make your expenses now, and pay for it later, before the deadline. But, if you do not pay the credit card bills and clear your dues on time, the credit card issuer will impose additional interest and might charge a late payment fine...

Credit Card Repayment Calculator

Credit Card Bill Payment

Credit cards make your life easier. Whether it’s shopping, travel, or dining, it is a safe and easy alternative to making payments in cash. Once you get your credit card bill, all you need to do is pay it off before the due date, and you’re fine. Sounds simple, right? But at times, you might miss the date either because you haven’t keep a tab on your dues or due to an emergency...

Are You in Debt? Here are 12 Ways to Get Out of Debt

How to get out of Debt

Paying off a credit card debt can seem like an overwhelming prospect for many people. The apprehension is reflected in India’s household debt, which has witnessed a steep incline in the past few years, shooting from an average of Rs. 9017 in 2015 to Rs. 16,239 in 2019. But you can take heart in the fact that millions of people have successfully paid off their credit card debts, as long as...

6 Budgeting Mistakes and How to Fix Them

Budgeting Mistakes

Spending your income wisely is the basic rule of smart personal financing. However, it isn’t unusual if you feel daunted about tracking every single rupee that passes through your wallet or bank account.  The solution lies in setting up a simple budgeting system that takes the pain out of accounting and helps you identify your financial priorities. Why Do You Need a Budget? By creating...

5 Reasons Why You Always End Up in Debt

Why Debt

Nobody really wants to be in debt, but the lucrative power behind the idea of borrowing an amount that you’d pay back in the future can be huge. Several people fall for this. Confident in themselves and their ability to pay back a loan or even multiple, some do so to be able to “live in the moment”.  But is this really a smart thing to do? Do you need to saddle yourself...

How to Improve Your CIBIL Score in Easy Steps

Improve CIBIL Score

In the course of everyday life, we need to spend money to buy goods and services to survive and even improve our quality of life. But we don’t always have access to enough cash immediately.  Still, it is possible to borrow money for a fixed duration.  The money that you borrow is known as “credit.” How you manage your borrowings and repayments is called your credit...

about CRED

CRED is a members-only platform that rewards the creditworthy individuals of India with exclusive experiences, rewards and upgrades.