One of the top things on your mind while travelling abroad is how much foreign currency should you carry? And how should you carry it?

Carrying the local currency may seem like a suitable option, butusing just cash is not advisable, especially if your trip is a long one. Otheroptions are traveller’s cheque, debit card or credit card. However, each comeswith its pros and cons. Most places don’t accept traveller’s cheques, and ifthey do, they charge extra. Using a debit or credit can be convenient, yetexpensive; apart from a high conversion rate, additional ATM withdrawal fees islevied.

So, what’s the best way to transact while travelling abroad? Forex cards! These prepaid cards are pre-loaded with the currency of the country or countries that you are visiting. And they are easy, convenient and safe to use. But how to choose the right one?

Here’s a list of features to look for while getting a forex card:

Easy ATM Withdrawals

While travelling abroad, you need to carry some cash for smallpurchases and for use in places where a card may not be accepted. For instance,if you take a cab or a tuk-tuk, the driver will only accept cash. Therefore,make sure that your forex card allows you to withdraw money from the ATM.

The Indus Forex Multi-Currency Card allows you to make withdrawals from all VISA ATMs and doesn’t charge you for the same.

Make Online Payments

Before travelling abroad, you will have to make several onlinepayments; booking for tours and packages, transportation bookings, onlineshopping, etc. Therefore, to make these payments, you need a forex card thatsupports online payments.

With the Indus Forex Multi-Currency Card, you can make quick andsafe online transactions.

Updates on Transactions

It is essential to manage your finances by keeping a tab on your expenses even if you are on vacation. After all, running out of money is the last thing you want when abroad. Hence, get a forex card that sends you instant messages every time money is debited or credited.

The Indus Forex Multi-Currency Card sends instant alerts on every transaction to keep users updated. Additionally, the InstaReload feature ensures you can quickly restore cash in your card at the locked-in exchange rate.

Safety Features

Security features of a forex card are the most crucial aspect toconsider before purchasing. Facing a financial scam when abroad can beterrifying. And since you will be using it for several payments;transportation, accommodation, food, shopping, bill payments etc. you need toensure that your forex card allows for a safe transaction.

The Indus Forex Multi-Currency Card guarantees secure cashwithdrawals and online transactions. With instant SMS alerts after everytransaction and online access, you can track your balance and check fraudulentusage. And in case the card is lost or stolen, you can contact the bank andseek immediate redressal. Also, the IndusInd Bank Multi-Currency forex cardcomes with a magnetic strip or chip to protect customers from card skimming andcounterfeiting.

Now that you know what safety features to look for while applying for a forex card, make sure you opt for the right one. The Indus Forex Multi-Currency Card is a wise option as it is easy to use and fast to load and reload at unbeatable exchange rates. You can apply for it online at any time and from anywhere and enjoy fast delivery. Additionally, you can carry 14 different currencies on a single card.

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.

Using credit cards can be tricky, which is why you need to be extra careful. Surprisingly, most of the users are unaware of how to manage a credit card, thereby leading to several problems such as racking up a high-interest rate, or late payments. Whether it’s maxing out the credit card or missing the payment date, the issues may seem harmless but can wreck up your credit history in future.  If you too are planning to apply for a credit card, here are a few spending and payment mistakes that you need to avoid for a smooth experience. Read on.

Common Credit Card Payment Mistakes

When it comes to making payments for your credit card, missing the due date or paying the minimum balance may seem harmful. However, these common payment mistakes harm your credit history drastically. Here are some of the common payment mistakes that a lot of credit card users make:

Skipping the Due Date

Skipping the due date of bill payment not only harms your credit history but you also end up paying extra in the form of penalties and interest payments. If you are deliberately making late payments because of lack of funds or any other reason, you need to buckle up. An easy way out is to set aside a particular amount for your credit card payments to avoid this issue in future. However, if you tend to forget the due date of payment, set up automatic monthly payments from a particular bank account.

Paying Less than the Minimum Due

Paying less than the minimum due amount has the same impact on your financial health as not paying your bill at all. In short, paying less than the minimum due amount doesn’t save you from delinquency. So, make sure you have sufficient funds to pay at least the minimum due amount.

Paying the Minimum Due Amount

The only advantage of paying the minimum due amount is you don’t need to pay the late fee. However, there is another tricky part of paying the minimum due amount that a lot of credit card users ignore. Unless you clear the entire bill for each month, you will accrue interest on the balance amount that is carried over every month. In addition, if you don’t pay the full amount, you will also miss the interest-free days in the coming month.

Common Spending Mistakes to Avoid

Spending recklessly using your credit card also harms your credit health. Here are some of the common spending mistakes to avoid.

Maxing Out your Credit Limit

Recklessly using your card and maxing out the credit limit has a lot of negative impact on your financial history. Maxing out your credit limit not only damages your credit history but also comes with an extra burden of paying overdraft fees. Maxing out your credit card also implies that you are struggling to meet your day to day expenses or spending more than you can manage. These red flags can be a setback in future when you may need money for some essential financial expenses.

Using Cash Advances

A piece of advice that many credit card holders give is to avoid cash advances. The reason is cash advances are expensive as it accrues a lot of interest and fees. Using cash advances also indicates the issuer that you are in dire need of funds and can’t afford it. In short, you not only end up paying more but also harm your credit history.

Missing your Rewards

If you always pay off your credit card balance in full, you are a great candidate for reward points. Some of the credit cards pay up to 5% in cash back on different purchases or travel rewards that can be very profitable. So, if you travel a lot, you can take advantage of using the reward points to book a flight ticket. Not availing the reward points is a loss as you are paying more for an something that you can easily get at a discounted price.

The Importance of Using a Credit Card

The credit card market has come a long way since its introduction in the 1920s. Starting from attractive cash back, earning reward points to making investments easy, credit cards can help you out in different ways. Credit cards have drastically changed the spending habits and face of business over the years. However, other than these financial conveniences, credit cards can be valuable tools for meeting unexpected expenses or improving your credit score. Here’s why using a credit card is important:

• Improves your credit history when used with care
• Beneficial for booking flight tickets, hotels, cabs, especially when travelling
• Convenient and secure payment method
• Helps in getting small business loans
• Act as a safety net by providing fraud alert via phone, email or text messages

Last Few Words

When used wisely, credit cards can be a great financial asset. Make sure you research about the different types of credit cards available in the market and find out all the benefits before making the final decision. Many financial institutions such as IndusInd Bank provide different types of credit cards that come with a number of perks and benefits. You can find out more about the credit cards here and choose something that meets your financial needs.

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.

If you are a food enthusiast in a foreign land, tasting the authentic food and experiencing the unique dining experiences of the place would make an important part of your holiday. Here are some tips that can help you get a satisfying culinary experience when abroad.

Check in with the concierge

The helpfulconcierge at your hotel can do more than just booking tours and reservations.Take a few minutes to ask them for their recommendations to know about localgems and culinary experiences. It’s one of the best ways to find the localhaunts and new places that you might otherwise miss. Once you make your choice,an IndusForex Multi Currency Card will make booking areservation easy and effortless. Additionally, you can keep track of all yourexpenses through the SMS updates to stay on top of your budget.

Align your travel dates to events

When you’re a foodie, you don’t just travel for the culture and sights- you also look to sample a wide variety of cuisine. There’s no better (and quicker) way to do this than by attending a local food festival, where you can try different types of food in one place. So ensure you check out food fairs and events in the cities you are visiting.

While food festivals and events might sometimes require you to pay in cash rather, a Forex Card will come in handy when you want to withdraw some money in the local currency quickly. The Indus Forex Multi Currency Card will help you withdraw cash from any VISA ATM, which is accessible in over 200 countries worldwide.

Reserve in advance to skip the queue

While going to popular street food joints can be an easy task, getting a reservation at an exclusive restaurant can prove to be more difficult. If you’ve read about a famous restaurant that you want to try, make sure you book a reservation in advance so that you’re assured a table. The Indus Forex Multi Currency Card can be used to make international bookings and payments for restaurants, hotels, airlines, and shopping at no extra charge.

Learn about a country’s tipping/taxing culture

Before you visit a restaurant in any country, learn about their tipping etiquette. While it might not necessarily affect your dining experience, it’s best to know where to tip and where not to respect the local culture. For example, tipping is not a norm in many Asian and European countries, and can be seen as disrespectful in a few others.

However, it’s customary to leave a tip in countries in North America and Africa as waiters depend on them to supplement their income. In such situations, make sure you always have some cash in hand to tip your waiters. The instant reload feature of Indus Forex Multi Currency Card ensures you don’t run out of cash. Not just that, you can focus on your experience without worrying about currency fluctuations, as your exchange rate remains the same after you load your card.

Shop for local food products

While your holiday might come to an end at some point, you can always extend your experience by taking along souvenirs from your trip. So keep aside a day to shop for food items the city is famous for, be it spices, tea and coffee or cheese, sauces and chocolates.

Shop carefree with the Indus Forex Multi Currency Card, which can carry up to 14 different currencies and comes with exciting features and benefits.

The best tip to havea great culinary experience in any city is to have an open mind (and an openwallet) and experiment with the different kinds of food you might find.

Looking to purchase a new car that has just hit the market? With a car loan, buying your dream vehicle is within your reach. Here is all you need to know about getting a car loan in India.

Basic Covenants to be Aware Of

Before you get started, here are some car loan basics you should know:

• You can opt for a car loan from one of the many financial institutions in India, public and private. However, the car loan interest rate, repayment schedule, and tenure will vary. Once you undertake a loan, you will have to pay either fixed or variable Equated Monthly Installments (EMI) to the lender
• Most lenders offer car loans for both new and pre-owned cars, with varying car loan interest rates
• When you buy a car using a loan, your car is hypothecated to the lender. In the case of car loans, your car is essentially the collateral

Budget

Prepare a budget that accurately represents all costs associated with your loan. Most car loans have a tenure of 3-5 years. While estimating your budget for taking a car loan, take into account processing fees during the disbursement of loan and foreclosure charges if there is a possibility of you needing to close the loan earlier. Also, remember that loans finance roughly 80-100% on the ex-showroom price of a new car – you might have to pay the remaining amount like the insurance amount, RTO charges, registration fees, additional margin money etc.. At IndusInd Bank, we finance up to 100% on the ex-showroom price of the vehicle. This quantum varies for different car models and also depends on the borrower’s profile.

Shortlist Model

The lending rates, repayment tenures, and quantum of finance will vary for different car brands and models. While choosing a car model, keep in mind these factors. Check the loan details for a list of cars financed by your lender to avail of a profitable deal. At IndusInd Bank, we offer car loans for a wide range of new and used car models and have tie-ups with various car dealers across the country.

Check Eligibility

Your car loan eligibility will vary across lenders, based on your profile and income. Some primary factors that affect car loan eligibility are age, salary, employment type, and residence area. You can check your eligibility for an IndusInd Bank car loan here.

Choose a Lender

To get a car loan that best suits your needs, compare features like repayment tenure, lender tie-ups, interest rates, and other charges levied by various lenders before zeroing in on one.

At IndusInd Bank, we offer flexible repayment tenures and attractive interest rates for car loans on a wide range of car models. We also have tie-ups with an extensive network of manufacturers and authorised dealers. Our expert sales team helps you find the best deal on your car loan.

Decide on Tenure and Amount

The amount you canborrow to finance your car depends on your age, income, and chosen car model.Usually, the loan covers only 80-100% of the ex-showroom price of your car. Carloans do not include registration and re-registration, maintenance, insurance,and road tax charges.

The repayment tenure fora car loan depends on several factors like loan amount, the interest charged,and the annual income of the borrower.

Furnish Documents

Keep the followingdocuments handy before approaching a lending institution for a car loan–

• Passport-sized photo
• Proof of Identity (Passport, PAN Card, Voter ID card, orDriver’s license)
• Proof of Residence (Passport, utility bills, Voter’s ID cards,etc.)
• Proof of Income (IT returns with computation/Form 16 etc.)
• Evidence of Business (in case of businesspersons)
• Bank statements of the past 3-6 months

Book Your Car

Once you’ve done your research and selected a lender, it’s time to book your dream car. You can approach IndusInd Bank for a car loan through the following ways:

• Call us at our 24-hour customer care number 1860 267 7777
• Walk into the nearest IndusInd Bank branch
• Contact any of our Vehicle Finance Division offices or Personal Products Division Offices

Moreover, you need not have an account with IndusInd Bank to get a car loan, though having one could mean enjoying several benefits when taking out a loan. Apply for a car loan online with IndusInd Bank today!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.