by Jobuza Team | Feb 25, 2025 | BLOG, Trending News
Should You Use UPI with a Credit Line? Pros and Cons Explained
A credit card has become an essential tool for making online payments, offering both convenience and valuable rewards such as cashback and discounts. However, while credit cards remain popular, UPI transactions are growing at an even faster pace. According to the latest RBI data, UPI payments reached ₹2.34 lakh crore in October 2024, marking a 37% increase in just one year.
Now, imagine combining the benefits of UPI with a credit line. This means you can make UPI payments while enjoying the flexibility of credit, much like having a UPI service linked directly to your credit card. But is this a smart financial move? Let’s explore the key advantages and disadvantages.
Key Advantages of Using UPI with a Credit Line
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Access to Credit Anytime
Unlike traditional UPI payments that deduct money directly from a savings account, using a credit line allows you to make transactions without an immediate cash outflow. This gives you greater flexibility to manage expenses, especially during times of financial crunch.
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A Cleaner Bank Statement
When you make frequent UPI payments through your bank account, every transaction appears in your statement, making it cluttered. However, if those payments go through a credit card, your bank statement will only reflect a single payment toward the credit card bill, making it easier to track and manage your finances.
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Better Financial Management
Many people use UPI for small transactions and credit cards for larger expenses. By combining both into one payment method, you streamline your financial transactions, making it easier to monitor spending and manage cash flow efficiently.
While this system offers several advantages, it also comes with potential downsides. Interest charges, overspending risks, and the need for disciplined repayment should be carefully considered before opting for a UPI-linked credit line.
Would you consider using a credit line for UPI payments? Understanding both the benefits and risks can help you make the right financial decision.
Key Disadvantages to Keep in Mind
Using a credit card offers convenience, but it also comes with certain risks. Here are some key drawbacks to consider:
1. Risk of Overspending
Having access to a credit line can make it tempting to overspend. Since the money isn’t deducted from your bank account immediately, it’s easy to lose track of your budget. Relying too much on your credit card for both small and large expenses can lead to financial strain if not managed carefully.
2. Dependency on a Single Payment Method
Technology has made digital transactions effortless, but relying too much on one payment method can be risky. If there’s a technical glitch, payment failures can cause unnecessary stress and inconvenience. Diversifying your payment methods—such as using a mix of UPI, debit cards, and net banking—can help prevent disruptions.
3. Missing Out on Rewards and Perks
Credit Card to UPI Not all credit cards come with the same benefits. Some may not support UPI payments, while others offer exclusive perks like cashback, discounts, or access to premium experiences such as golf events or luxury lounges. If you stick to just one card for convenience, you might miss out on rewards that other cards offer.
While credit cards provide flexibility, responsible usage is key to avoiding financial pitfalls. Managing expenses wisely and exploring multiple payment options can help you maximize benefits while minimizing risks.
by Jobuza Team | Feb 24, 2025 | BLOG, Trending News
Prime Minister Internship Scheme (PMIS) Round 2 Now Open for Applications
New Delhi, February 20 – The Prime Minister Internship Scheme (PMIS) has officially launched Round 2 of its pilot phase, offering over 1 lakh internship opportunities in top companies across 730+ districts in India.
In the first round, the scheme received an overwhelming response with over 6 lakh applications. Now, Round 2 aims to provide even more young individuals with valuable industry exposure, helping them build skills and professional networks.
Internship Opportunities Across Leading Sectors
PMIS is collaborating with over 300 top companies across various industries, including:
- Oil, Gas & Energy
- Banking & Financial Services
- Travel & Hospitality
- Automotive
- Metals & Mining
- Manufacturing & Industrial
- Fast-Moving Consumer Goods (FMCG)
- And many more
These internships offer young professionals a chance to gain real-world experience, industry connections, and improved employability.
Eligibility and Application Process
The scheme is designed for young individuals aged 21 to 24 who are currently not enrolled in any full-time academic program or employment. Eligible candidates can explore and apply for internships based on:
- Preferred district and state
- Industry sector
- Specific area of interest
- Customizable search radius from their current location
Each applicant can apply for up to three internships before the deadline.
Nationwide Outreach and Awareness Campaign
To ensure maximum participation, over 70 IEC events are being conducted across the country in:
- Colleges and universities
- Industrial Training Institutes (ITIs)
- Rozgar Melas (Job Fairs)
- Other relevant institutions
Additionally, national digital campaigns are being run across multiple platforms, leveraging social media influencers to spread awareness based on location-specific opportunities.
Benefits of the PMIS Internship
This 12-month paid internship provides:
- Monthly financial assistance of ₹5,000
- One-time financial assistance of ₹6,000
- A structured program including at least six months of professional experience and training
The Ministry of Corporate Affairs is leading this initiative to empower young Indians by enhancing their skills, providing industry exposure, and improving their career prospects.
For more details and to apply, visit the official PMIS website.
by Jobuza Team | Feb 20, 2025 | BLOG, Trending News
Missed Your Train? Here’s How to Get a Refund for Your Ticket
Missing a train can be frustrating, especially when you’ve already booked your ticket. If you’re wondering whether you can cancel your ticket and get a refund after missing the train, we’ve got all the details for you. Whether you booked your ticket online via the IRCTC app or offline at a railway counter, here’s everything you need to know about cancellation, refunds, and filing a TDR (Ticket Deposit Receipt).
Can You Cancel Your Ticket After Missing the Train?
No, you cannot cancel your ticket once the train has departed. However, Indian Railways allows you to apply for a refund by filing a TDR (Ticket Deposit Receipt). This is the only way to claim your money back after missing a train.
TDR Filing Deadline: How Long Do You Have?
You must file a TDR within 72 hours of your train’s scheduled departure. If you fail to do so, you will lose the chance to get a refund.
Ways to File a TDR:
- Online: Through the IRCTC website or app
- Offline: Visit the nearest railway reservation center
Step-by-Step Guide: How to File a TDR Online
- Log in to your IRCTC account via the app or website.
- Go to ‘My Transactions’ > ‘Booked Ticket History’.
- Select the ticket for which you want to file a TDR.
- Follow the on-screen instructions and submit your request.
- Keep checking the TDR status regularly for updates.
How Much Refund Will You Get?
The refund amount is not guaranteed and depends on Indian Railways’ cancellation rules. If your TDR is approved, the refund will be processed within 60 days to the same payment method used for booking.
- For online bookings: Refunds are credited back to your bank account or wallet.
- For offline bookings: You must visit the nearest railway reservation center to collect your refund.
Final Thoughts
If you ever miss a train, don’t panic. Instead, file a TDR within 72 hours to increase your chances of getting a refund. Keep track of your TDR status on the IRCTC app or website, and be patient—it may take up to 60 days to process.
For hassle-free travel, always reach the station on time, check your train’s schedule, and have a backup plan!
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by Jobuza Team | Feb 19, 2025 | BLOG, Job Tips, Trending News
Highest Paying: Choosing the right bachelor’s degree is a critical step toward building a successful career and maximizing your earning potential. In India, certain degrees offer exceptional job prospects with lucrative salaries, setting the foundation for long-term financial growth.
If you want to secure a high-paying career, consider these top ten bachelor’s degrees that open doors to rewarding opportunities.
1. Bachelor of Technology (B.Tech) or Bachelor of Engineering (B.E.)
Engineering remains one of the most sought-after fields, offering competitive salaries across industries such as IT, manufacturing, and construction. Specializations like Computer Science, Electronics, and Petroleum Engineering are particularly lucrative, providing ample career prospects in both India and abroad.
2. Bachelor of Medicine and Bachelor of Surgery (MBBS)
A degree in medicine is among the highest-paying educational paths. Becoming a doctor, surgeon, or medical specialist ensures a stable and high-income career. However, this field requires rigorous education, training, and commitment to achieve success.
3. Bachelor of Architecture (B.Arch)
Architecture combines creativity with technical expertise, allowing professionals to design and construct innovative structures. With urban development on the rise, skilled architects enjoy well-paying jobs in both private firms and government projects.
4. Bachelor of Computer Applications (BCA)
With the rapid growth of the IT industry, a BCA degree provides a strong foundation in software development, cybersecurity, and data analytics. Companies in technology, finance, and e-commerce actively seek professionals with these skills, offering attractive salary packages.
5. Bachelor of Business Administration (BBA)
A BBA degree opens doors to diverse opportunities in management, marketing, finance, and entrepreneurship. Graduates can pursue careers in multinational corporations, start-ups, and consulting firms, often securing high salaries with experience and additional qualifications like an MBA.
6. Bachelor of Laws (LLB)
A career in law is both prestigious and financially rewarding. Legal professionals can work as corporate lawyers, criminal lawyers, or legal advisors, with opportunities to earn significant salaries, especially in high-profile cases and multinational firms.
7. Bachelor of Commerce (B.Com)
A B.Com degree provides essential knowledge in finance, accounting, and taxation. Pairing this qualification with certifications like CA, CS, or CFA enhances job prospects, leading to high-paying positions in banking, investment, and corporate finance.
8. Bachelor in Hotel Management (BHM)
The hospitality industry offers impressive salaries for skilled professionals. With a BHM degree, graduates can secure managerial roles in luxury hotels, resorts, and international hospitality chains, where experience and expertise lead to financial growth.
9. Bachelor in Data Science
Data science is a rapidly growing field with a high demand for skilled analysts and machine learning experts. A degree in Data Science can lead to lucrative roles in artificial intelligence, big data analytics, and business intelligence, with opportunities in global technology firms.
10. Bachelor in Financial Analysis
Financial analysts play a crucial role in investment decision-making and wealth management. With a degree in Financial Analysis, professionals can secure high-paying positions in banking, financial consultancy, and investment firms, making it a lucrative career choice.
Conclusion
Selecting the right bachelor’s degree is key to unlocking financial success and career growth. Whether you choose engineering, medicine, business, or data science, each of these fields offers rewarding opportunities. Make an informed decision based on your interests and skills to secure a prosperous future.
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by Jobuza Team | Feb 18, 2025 | BLOG, Trending News
Income Tax Calculator: Choose the Best Tax Regime for Maximum Savings
If you’re planning your taxes, it’s important to know whether the new tax regime or the old one will benefit you more. To help with this, the Income Tax Department has introduced an updated Income Tax Calculator, allowing taxpayers to estimate their tax liability and potential savings.
With the Budget 2025 changes, income up to Rs 12 lakh will now be tax-free, bringing significant relief to many taxpayers. This means that depending on your income level, you could pay less tax or even no tax at all.
New Income Tax Calculator for FY 2024-25 and FY 2025-26
After the latest changes in the new tax regime, tax liability for many individuals will be reduced. To simplify tax calculations, the government has launched a new Income Tax Calculator. This tool is available for the financial years 2024-25 and 2025-26, helping you determine:
- How much tax you need to pay under the old and new regimes.
- The exact amount you can save by choosing the right tax regime.
- A clear comparison of tax liabilities based on the latest tax slabs.
How to Use the Income Tax Calculator?
Using the calculator is simple and provides instant results. Here’s how you can check which tax regime is better for you:
- Select Your Residential Status – Choose whether you are a resident or non-resident taxpayer.
- Enter Your Taxable Income – Input your total taxable income, including salary, business earnings, or other sources.
- View Tax Breakdown – The calculator will display a detailed tax comparison for the current financial year (FY 2024-25) and next financial year (FY 2025-26) based on the Budget 2025 tax rules.
- Check Your Tax Savings – You will see how much you can save by choosing the most suitable tax regime.
For example, if your taxable income is Rs 15 lakh, the calculator will show whether you pay less tax under the old or new tax slabs.
Where to Access the Income Tax Calculator?
The official Income Tax Calculator is available on the Income Tax Department’s website. You can use it for free by visiting this link:
👉 Income Tax Calculator : click here
New Tax Regime Slabs and Rates
With the revised tax structure, here’s how income will be taxed under the new regime:
| Income Range (Rs) |
Tax Rate (%) |
| 4 – 8 lakh |
5% |
| 8 – 12 lakh |
10% |
| 12 – 16 lakh |
15% |
| 16 – 20 lakh |
20% |
| 20 – 24 lakh |
25% |
| Above 24 lakh |
30% |
Available Deductions and Exemptions
While the new tax regime offers lower tax rates, deductions and exemptions are limited. However, some benefits remain:
- Standard Deduction for Salaried Employees – Up to Rs 75,000
- Employer’s Contribution to NPS (National Pension System) Tax-Free – Under Section 80CCD(2), contributions to a Tier-1 NPS account are tax-free, with a deduction of up to 14% of the basic salary.
Final Thoughts
Choosing the right tax regime can lead to significant savings. The Tax Calculator makes it easy to compare both options and decide which one is more beneficial for you. With income up to Rs 12 lakh now tax-free, many taxpayers can enjoy a lighter tax burden starting April 1, 2025.
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by Jobuza Team | Feb 18, 2025 | BLOG, Trending News
RBI Cuts Repo Rate: Home Loan Interest Rates Drop, Bringing Relief to Borrowers
6 Banks Cut: The Reserve Bank of India (RBI) has slashed the repo rate by 25 basis points (0.25%) during its Monetary Policy Committee (MPC) meeting on February 7, 2025. This reduction brings the repo rate down to 6.25%, marking the first rate cut in two years. As a result, home loan borrowers can expect lower interest rates, with several banks already announcing reductions in their lending rates.
Major Banks Lower Home Loan Interest Rates
Following the RBI’s decision, leading banks have revised their home loan interest rates to make borrowing more affordable. Among them, Canara Bank, Punjab National Bank (PNB), Union Bank of India, and Bank of Baroda have reduced their Repo Linked Lending Rate (RLLR) by 0.25%, benefiting home loan customers.
Understanding the Repo Linked Lending Rate (RLLR)
The RLLR is the interest rate at which banks lend to customers, and it is directly tied to the RBI’s repo rate. Since October 2019, the RBI has mandated banks to link their retail loans to an external benchmark rate (E-BLR), making the repo rate a key factor influencing loan rates.
For borrowers with floating-rate home loans, the RLLR determines their interest rate. When the RBI lowers the repo rate, these borrowers benefit through lower EMIs or a reduced loan tenure, depending on their financial goals.
Banks That Have Reduced Interest Rates
Canara Bank
- New RLLR: 9.00% (Reduced from 9.25%)
- Effective Date: February 12, 2025
- Applies to new accounts and those completing three years under the RLLR system.
Bank of Baroda
- New Rate: 8.90% (Baroda Repo Linked Lending Rate – BRLLR)
- Effective Date: February 10, 2025
Bank of India
- New RLLR: 9.10% (Reduced from 9.35%)
- Effective Date: February 7, 2025
Impact on Home Loan Borrowers
With lower home loan interest rates, borrowers have an excellent opportunity to reduce their financial burden. Here’s what this means:
Lower EMIs
A reduced interest rate translates into smaller monthly installments, making home loan repayments more affordable.
Option to Reduce Loan Tenure
Instead of lowering EMIs, borrowers can choose to keep their EMI amount unchanged and shorten the loan tenure, ultimately saving on total interest paid over time.
More Affordable New Home Loans
6 Banks Cut: For those planning to buy a home, this is the perfect time to secure a loan at a lower interest rate, making homeownership more accessible.
More Banks Join in Reducing RLLR
Union Bank of India
- New RLLR: 9.00% (Reduced from 9.25%)
- Effective Date: February 11, 2025
Indian Overseas Bank (IOB)
- New RLLR: 9.10% (Reduced from 9.35%)
- Effective Date: February 11, 2025
Punjab National Bank (PNB)
- New RLLR: 9.00% (Reduced from 9.25%)
- Effective Date: February 10, 2025
What Should Borrowers Do?
If you’re looking to take advantage of these reduced home loan rates, here’s what you can do:
- Compare Interest Rates: Different banks offer varying rates, so compare them to find the best deal.
- Consider Refinancing: If you already have a home loan, refinancing with a lower rate could save you money.
- Evaluate Loan Tenure: Decide whether to reduce EMIs or opt for a shorter tenure to save on interest.
- Check Eligibility: Ensure you meet the eligibility criteria for new loan offers.
Final Thoughts
The RBI’s repo rate cut has come as a boon for home loan borrowers, making homeownership more affordable and reducing financial stress. With major banks slashing their interest rates, now is a great time to explore home loan options and secure a favorable deal.
If you’re planning to buy a home or refinance an existing loan, act now to make the most of these lower rates!
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