Bagging a scholarship is a big feather in the cap of any student's academic credibility. Even though you're still in the final stages of completing your education, a scholarship is a boon, especially if your finances are tight.

What is a scholarship?

With the rising costs of education, capable students are often forced to forego their dreams of higher studies on account of financial shortcomings.

Scholarships for education are financial aids awarded to promising students to help them further their studies in their chosen field.

Why scholarships are important?

Since scholarships are earned on merit, they are an automatic boost for your resume.

Aside from that, with education costs rising, scholarships are increasingly important to help those who are already stretched thin financially. Many give up on their dreams of further studies due to being low on financial reserves.

Among them, those who still push ahead, however, turn to borrow from relatives or banks, adding to their debts. Some students even opt to work at part-time jobs to help pay their way. Regardless, these additional burdens invariably end up affecting the student's focus. But scholarships enable students to divert all their attention and time towards their studies only.

Scholarships in India

Keeping all these benefits in mind, the government has allocated a considerable portion of its total education budget for providing scholarships in India. These range from scholarships awarded based on merit, means, talent, and various other categories.

However, in spite of this, many students' academic journeys get derailed. As per a report by the Institute for Policy Research Studies (PRS) in New Delhi, while 77 percent of students enroll themselves in Standard 10, while that number drops to 52 percent by Standard 11.

How the mPokket Scholarship can help college students

In achieving mPokket's vision of a better India, we believe no one should be deprived of fulfilling their academic potential and would like to help every promising student in achieving the bright future they deserve.

With this goal in mind, we are offering a scholarship for college students.

To be a part of this program, simply follow the below steps:

• Log-in to your mPokket account
• Apply for the scholarship program with your education details and family income status
• Provide a recommendation letter from your faculty, printed on your college letterhead with signature and institution stamp
• Submit your application, and post-approval of the same, the amount will be credited to your bank account

If this is the kind of opportunity you have been waiting for, we hope you take full advantage of it and get one step closer to achieving your dreams!

The Union Budget 2021-22 powered India's dream to rebuild its economy, which has been grappling against the side effects of the COVID-19 crisis. Nation's first-ever digital budget was presented by Union Finance Minister Nirmala Sitharaman at Parliament on 1st February 2021. The paperless budget reinforced the ‘Digital India Mission' by replacing the traditional briefcase with a ‘Made in India' tablet. The Budget is growth-oriented and reiterates the government's strong intent for major reforms necessary for the economic recovery of the country.

We have curated details about Budget 2021 to let you know what is in it for you.

All that changed in Budget 2021

The much anticipated ‘Never seen before' budget fared well on its promises. Here is a list of few important changes proposed in the Budget 2021:

1. Healthcare prioritized:

FM declared a major boost to India's last-mile public healthcare delivery system. She announced Rs 2,23,846 crore outlay for health and wellbeing in Budgetary Estimate (BE) 2021-22. The amount is a 137% rise compared to Rs 94,452 crore in 2020-21. It also includes Rs 35,000 crore to be utilized in the fight against COVID-19 through a nationwide vaccination drive. The FM also proposed a new centrally sponsored health scheme named PM Aatma Nirbhar Swasth Bharat Yojana. An outlay of Rs 64,180 crore will be spent on the scheme over the next 6 years. To promote insurance promotion in newer markets across the country, the foreign direct investment (FDI) limit in the said sector has been proposed to be increased to 74% in the 2021 budget.

2. Auto sector revival:

Eyeing the opportunity to improve the condition of the auto sector, the ‘Voluntary vehicle scrapping policy' was announced by FM. The policy aims at removing old polluting vehicles off the Indian roads and is being warmly welcomed by the industry. Another important announcement was the 15% increase of import duty on specific auto parts.

3. Relief to Senior citizens:

FM announced an exemption from filing income tax returns for individuals above the age of 75 years if their income is sourced through pension and interest income only.

4. Thrust to the Real estate sector:

An additional benefit of Rs 1.5 lakh tax deduction on home loan interest, until March 31, 2022, has been extended by the FM. The move would boost the residential property sector.

5. Financing for Public Infrastructure:

The capital deprived public infrastructure sector will receive its fair share as the government will set up a professionally managed Development Finance Institution (DFI). DFI will fund key infrastructure projects under the National Infrastructure Pipeline- a five-year program worth Rs 111 trillion. Capitalized by Rs 20,000 crore, it will accelerate spending on greenfield projects and benefit brownfield ones by leveraging a debt of Rs 5 lakh crore within three years.

How will the budget impact young working professionals?

The pandemic highlighted the need to build a self-sufficient economy empowered by digital resilience. It is imperative to enhance the digital skills of our youth and upskill our existing workforce. Here are the key takeaways from the budget for working professionals.

1. Rise in employment opportunities:

The budget emphasizes the vision of AatmaNirbhar Bharat to develop a self-reliant nation, as a roadmap to economic revival. FM announced measures to promote job creation in banking, insurance, healthcare, infrastructure, textile, and agriculture.

2. Incentivize One-Person Companies (OPCs):

To emancipate startups, non-resident Indians (NRIs), and innovators, FM proposed to incentivize the incorporation of one-person companies. The proposal will allow them “to grow without restriction on paid-up capital and turnover, allowing conversion into any other type of company at any time, reducing residency limit for an Indian citizen to set up an OPC from 182 days to 120 days.”.

3. Tax Incentives:

The tax holiday for startups has been extended by one more year so they will get capital gains exemption to 31 March 2022. The government has also extended the provision for new home loans to promote the purchase of affordable housing. Buyers opting for houses valued under 45 lakhs will get an additional deduction of Rs 1.5 lakh on the interest paid on home loans.

4. Funding for MSMEs:

The Micro, Small, and Medium Enterprises (MSME) sector was the worst hit during the pandemic. FM announced Rs. 157 billion outlay for the revival of the sector, which will be a great relief to its unorganized workforce. Along with the increase in the MSME budget, the definition of small companies under the Companies Act, 2013 has also been updated. This is predicted to be valuable for MSMEs and start-ups across various industries.

Can College Students Overlook Budget 2021?

Finance Minister announced a reduction of 6.13% in the budget allocation for the Ministry of Education. A total budget of Rs 93,224 crore will be allocated for education, but there have been some major measures in the budget for new college graduates.

1. The setting up of the Higher Education Commission of India was announced in the last budget. This year Centre would implement it by introducing the legislation to set-up the Commission.
2. Central University to be set up in Leh to offer access to higher education in Ladakh.
3. The government proposes a Rs 3,000 crore outlay for providing post-education apprenticeship, training of graduates and diploma holders in Engineering. They will amend the Apprenticeship Act to realign the existing scheme of the National Apprenticeship Training Scheme (NATS). This would create more apprenticeship opportunities for the youth.
4. An initiative for collaborative Training Inter Training Programme (TITP) with Japan is also underway. It is aimed at inculcating Japanese industrial and vocational skills, techniques, and knowledge among youth to upskill them for better roles.
5. Under another initiative in collaboration with United Arab Emirates (UAE), skills and qualifications will be assessed and certified. It would also involve the deployment of a certified workforce across industries.

There hasn't been much in the budget for college students, you must plan your education and grad school budget wisely. Besides government student loans, you can download mPokket's instant loan app for students to get into the college of your dreams.

Whether you are applying for a loan online or from a brick-and-mortar institution, it is imperative that you gather all the important information. It will give you a better chance of getting your loan approved.

It will also help you to borrow at a competitive interest rate.

Before applying for a loan, you should be well-informed about a host of factors such as charges and fees, interest rate, credit score, etc. These will enable you to make the right decisions.

It will also help you to avoid the pitfalls such as borrowing an insufficient or excessive amount, getting the repayment plan wrong, or opting for the wrong lender in the first place.

Why Do You Need A Loan?

Is it a matter of life and death? Or, would you like to make a luxury purchase?

Depending upon your need of the moment, you may either go for a long-term loan or a short term one.

A long-term loan, typically taken for a car, home, or in the case of a medical emergency, builds assets or protects life.

A short-term loan, on the other hand, is not meant for frivolous borrowing.

In fact, it is recommended that you treat short-term loans the same way you treat your credit card – as a stop-gap measure used only during emergencies where you will get a quick reprieve.

Are You Eligible?

First things first!

Before approaching a lender, you have to make sure that you fulfill the eligibility criteria. Are you old enough to borrow? What kind of credit history do you have? Are you employed? Do you have your proof-documents in order?

In addition to the documents that are mandatory for you to furnish at the time of availing of the loan, you also have to keep your financial history handy.

Prudent lenders tend to perform thorough due diligence before allowing loan-takers to borrow money.

The Loan Amount

This is a no-brainer!

Getting the loan amount right is the key to successfully repaying it at a later stage, both in terms of your installment options, charges, and interest rates.

The rule of thumb is that you should only borrow the most essential amount – that which you cannot do without. You can always make arrangements for additional financial assistance later or even take another loan if required.

Negotiate Your Interest Rate

This is where a good credit history pays off!

If you happen to have a healthy score, you are a prime target by lenders for attractive loan options. This means that they are willing to compete with each other for your business.

As such, you can hard-bargain an interest rate that best suits your wallet. You'd be surprised by how much even a modest reduction in the rate can substantially alleviate your repayment woes.

Your Income Matters

Are you employed?

When it comes to loans, especially the short-term ones with quick repayment tenure and no collaterals, the employment status of the borrower becomes important.

Nature, profile, and earning capacity of the loan-taker directly affects the amount of money that he or she can borrow.

A Good Credit Score

The credit score, popularly known as the CIBIL score in India, is a measure of how creditworthy you are. It is calculated on the basis of your repayment history.

The range of the CIBIL score is between 300 to 900. If you have a score above 750, you're in luck!

A bad credit score implies that you have a chequered history when it comes to credit repayment. This could translate into a high-interest rate. It could even result in your loan application being rejected.

Fortunately, maintaining a healthy credit score is relatively easy. Simply pay your repayment options on time. Instead of having to remember the date of repayment every month, you could automate the entire process through your bank.

Another good way to ensure a healthy credit score is to reduce the number of credit cards that you are using. When you use the same card over and over and make your payments on time, it reflects upon your credit score positively.

The Fine Print

When availing of a loan, go through every line of the agreement document meticulously. Make sure that you understand the clauses that deal with your repayment plan and the consequences if you default.

Before you sign on the dotted line, you should be well-versed with the penalties levied, the charges, and the fees.

This will save you a world of trouble and headache later.

At mPokket, we understand the risks a borrower takes every time he or she avails a loan. This is why we leave no stone unturned to ensure that our customers have a seamless experience when taking money from us.

To know more about us, one of the best instant loan apps in India, download and install from Google Play Store today.

The world at large is now slowly starting to recover from the devastation wrecked by the coronavirus pandemic. Aside from the human toll, the economic impact delivered a blow to people's finances as well.

For many who lost their source of income, it was a wake-up call to start managing their finances better. Those, on the other hand, who were wise with their money, managed to ride through the lean period relatively smoothly by comparison.

Regardless, it's always a good time to start keeping tabs on your finances, and with that in mind, we give you 10 money management tips:

Take care of your immediate needs first

Before you rush to formulate a budget, it is important that you establish what your priorities in life are right this moment. What needs to be done now has to take priority over any future planning.

So, with that in mind, take a look at your immediate needs. Do you have a stack of unpaid bills? Any unavoidable expenditures such as a medical procedure or education payments?

If so, make that your immediate priority and account for those costs first.

Measure your monthly take and outflows

It's hard to manage money if you don't even know how much money you're working in the first place.

Start with your monthly income minus taxes. Add that to any surplus income you may be earning by way of freelancing or a side business.

Once that is done, see how much your monthly outflow is. Put together everything including bills, credit statements, Paytm history, and any other expenditures, and add up your monthly expenses.

See where the bulk of your money goes. Categorize spends by order of importance. You will surely realize there are certain unnecessary areas where you overspend.

Make a Budget

Now that you have a good account of what comes in and what goes out, make a plan that is in tune with your spending patterns.

If there's something you really enjoy doing, like a Saturday night outing with your friends, there's no need to cut that out. Instead, budget your other expenses (without cutting into any emergency funds).

Maintain an emergency fund

The pandemic of 2020 proved that it's hard to predict when a cash crunch might arise. For this reason, it's important that you set aside some easy-to-access funds.

While keeping this emergency fund aside will eat into your expenses elsewhere a bit, it will provide you with a feeling of security that you won't get any other way.

Save, save, save!

No matter whether you're barely earning enough to make ends meet or you're rolling in money, one habit you must never break is saving regularly.

It's not like you have to lock your money in an investment scheme, as even the interest generated by most savings accounts will add up to a tidy sum over time, and it's insured by the government!

Take advantage of Employee Provident Fund

If you earn over INR 15,000 per month, you're eligible for Employee Provident Fund (EPF). The fund is made up of contributions from the employee as well as employer every month, with both contributing 12 percent of the employees' monthly salary.

The accrued interest thereafter is tax-free and the employee can withdraw a lump-sum on retirement.

Revaluate your health insurance

Take a good look at your health insurance plan and compare it to other offerings to see what sort of benefits you're missing out on that could significantly cut down the expenses from your own pocket.

Paper, not plastic

The arrival of convenient cashless payment modes has made transactions infinitely easier than the old-fashioned method of paying for everything with cash.

However, you tend to spend more casually when a purchase is simply a UPI code or credit card swipe away. Instead, the act of actually pulling out your purse or wallet, counting and putting together the notes of hard-earned money on the cashier's table hits home much harder.

Increase your investment options

Don't get hung up on one type of investment. Explore your options. Interest rates on various schemes are constantly changing and competing banks are introducing newer plans.

For example, you may feel fixed deposits and PPFs are safer and more reliable than say, mutual funds. But ask around, talk with your friends and family to see how you can make it work to your advantage while avoiding any pitfalls.

Find what works and stick to it

After a few months of playing around with the above options, you will ideally arrive at an arrangement that just ‘clicks' for you. Stick with it and don't get sidetracked.

Avoid getting tempted by shiny new avenues or fuzzy advice and you will find that it will pay off for you in the long run.

While it's true that despite the best planning in the world, sometimes, situations arise that call for something extra. We at mPokket realize that in today's at-times unpredictable economic climate, the need for a sudden cash infusion is one that is felt by many, especially those making their way in the working world.

For that reason, we now have a loyal customer base running into tens of lakhs to whom we offer instant loans of anywhere between INR 500 to 50,000 credited straight to their bank account. All you need to do is download and install mPokket from the Google Play store, upload a few documents, and get approved.

With every passing day, more and more FinTech ventures are offering an online personal loan. Subject to your needs and requirements, either an offline loan or an online one is suitable for you.

Some borrowers prefer an in-person experience. For them, the conventional brick-and-mortar bank is ideal. However, if modern conveniences and fast funding are your preferences, and the online lender is right up your alley.

The rule of thumb is that you should go for the lender who gives the lowest interest rate. To ensure this, always take quotes from multiple personal loan givers before making an informed decision.

When It's An Emergency

When you need money urgently, online quick loans are the best option. Online loan givers can process applications much faster than traditional banks.

In fact, many online lenders offer same-day loan disbursement or within 24 hours.

In addition to speed, online lenders offer a host of other benefits. By posting their rates online, they provide full transparency. It also aids their borrowers with their research.

According to industry experts, using online loan applications also assuage a lot of the anxiety that borrowers face. Despite having good credit, loan-takers often wonder if they will get the amount they are seeking.

The transparency practiced by most instant loan apps eliminate such apprehensions.

Any-Time Loan

One of the most amazing things about the internet is that it is open for business 24X7. You can apply for a loan anywhere, anytime.

Suddenly remember that your gym membership is due while catching a movie with friends? Apply for an instant online loan.

Traveling with family and need urgent cash? Apply for an instant personal loan online right now.

Out of cash while out on a lunch date with your girlfriend? Take an online personal loan right now.

Lots Of Options

Imagine a personal loan marketplace that offers you credit that is tailor-made to your unique needs and one-time requirements. Now imagine a marketplace that offers innumerable such offers.

That's right! Availing an online personal loan enables you to assess multiple offers from the same company as well as myriad offers across competitors.

By comparing terms and interest rates across the board, you will be in a much better position to make the right decision.

When You Are Not Eligible For Traditional Lenders

Conventionally, brick-and-mortar banks do not lend to college students or young professionals. They are averse to borrowers who cannot put up collaterals or assets.

In some cases, youngsters are not employed. Borrowers who cannot furnish proof of employment cannot borrow a personal loan from conventional financial institutions.

In such scenarios, borrowers who are not eligible for a personal loan from traditional institutions have to turn to online personal loan apps that have a much simpler onboarding process.

Pre-Approval

Many online applications offer a personal loan that is pre-approved. Based on your credit history and income, an amount is calculated against which minimal documentation is required.

Since the borrower is now already eligible for the amount, there is a significant reduction in processing time and the personal loan is disbursed immediately.

Innovative Products

In order to better serve their customers with customized offerings, personal loan apps tailor-make their products to suit the unique needs of their consumer base. So, they create products such as bikes, travel, and wedding loans.

These products cater to a very niche but important section of the consumer base, thereby building brand loyalty and ensuring repeat business.

Unfortunately, online personal loan offerings and lenders are not a happy story all around. One of the biggest issues borrowers face with online lenders is credibility.

Imagine a large, financial conglomerate that is widely known all around the world. With offices in every city of your country, you will not be faced with any dilemma when availing a home loan, car loan, education loan, or business loan from them.

Compare that to an online lender whose only interaction with you is through an app downloaded on your smartphone.

In such a scenario, you are bound to ask questions pertaining to trust. Will I get the money on time? Will I get the money when I need it? Will this personal loan app respect my privacy?

Are all the confidential information that I share with the personal loan app safe?

With mPokket, you have no such thing to worry about. One of the best personal loan apps in India, we have a loyal customer base that runs into tens of lakhs of users.

One of the biggest reasons behind our success with our customers is the user-friendliness of our app. Simply download and install mPokket from Google Play Store, register with just a handful of documents, and get approved.

You can borrow from Rs.500 up to Rs.20,000. The money will be credited directly into your bank or Paytm account.

The smartphone market in India has registered a 9% YoY growth by Q3 in 2020. A major share of sales is contributed by students. Smartphones are companions during lectures while collaborating over assignments, for lesson revisions, and even for leisure.

Being a student, you have specific uses of a smartphone and must focus on features that cater to your needs. An ideal phone should be a high-performance device with the latest processor, a great camera, long-lasting battery life, and must suit your budget too.

We have curated a list of the top 10 best-suited smartphones for students under 20,000:

Phones with the Best Camera

1. Realme 7 Pro for INR 19,999/-

SpecificationsDisplay6.4 inches, 1080×2400 pixelsProcessorQualcomm Snapdragon 720GRAM8GBStorage128GBBattery Capacity4500mAhRear Camera64MP + 8MP + 2MP + 2MPFront Camera32MP

The Realme 7 Pro is the best camera phone to buy under 20000. It comes with an AMOLED display and stereo speakers for a great viewing experience. Realme 7 Pro includes 4 rear cameras- a 64-megapixel Sony IMX682 main camera, an 8-megapixel ultra-wide-angle camera, a 2-megapixel depth camera, and a 2-megapixel macro camera. You can capture great photos with natural-looking colors in regular lighting or HDR mode. Photos shot in low-light or dark places also come out well without much visible grain.

2. Redmi Note 9 Pro Max for INR 14,999/-

SpecificationsDisplay6.4 inches, 1080×2400 pixelsProcessorQualcomm Snapdragon 720GRAM8GBStorage128GBBattery Capacity4500mAhRear Camera64MP + 8MP + 5MP + 2MPFront Camera32MP

Redmi best camera phone under 20000 is the Redmi Note 9 Pro Max. It has four rear cameras including a main camera with 64 megapixels, 8 megapixels ultra-wide, 5-megapixel macro lens, and 2-megapixel depth sensor. You get the benefits of pro mode photography, and excellent night mode captures. The front camera is 32-megapixel, allowing you to take stunning selfies. The phone also has a 6.67-inch Full HD Plus display and a 5020mAh battery powered through a 33 Watt fast charger.

Phones with Top Processors

3. Vivo Z1x for INR 18,990/-

SpecificationsDisplay6.38 inches, 1080×2340 pixelsProcessorQualcomm Snapdragon 712AIERAM8GBStorage128GBBattery Capacity4500mAhRear Camera48MP + 8MP + 2MPFront Camera32MP

Vivo Z1x is among the best performing Vivo phones equipped with Snapdragon 712 AIE. It is packed with a 64-bit CPU – Qualcomm Kryo 360, a clock speed of up to 2.3 GHz, and Adreno 616 Graphic Processing Unit (GPU) to give you the best gaming and multitasking experience. Third generation AI Engine boosts performance by 10%.

4. OPPO K3 for INR 20,007/-

SpecificationsDisplay6.5 inches, 1080×2340 pixelsProcessorQualcomm Snapdragon 710RAM8GBStorage128GBBattery Capacity3765mAhRear Camera16MP + 2MPFront Camera16MP

Oppo K3 is packed with Snapdragon 710 and is among the Oppo best phones. Its 10nm processor has a maximum operating frequency of 2.2 GHz, improving its peak performance by 15%. It runs on ColorOS 6, based on Android 9 Pie. The Game Boost 2.0 enhances your gaming experience with its frame and touch accelerators.

Phones with Top Processors

3. Vivo Z1x for INR 18,990/-

SpecificationsDisplay6.5 inches, 1080×2400 pixelsProcessorSamsung Exynos 9611RAM6GBStorage128GBBattery Capacity6000mAhRear Camera64MP + 12MP + 5MP + 5MPFront Camera32MP

Galaxy M31s is the best Samsung phone under 20000 with a big 6000mAh battery. A 25W fast charger comes along with the phone which charges the battery to 100% in just 97 minutes. The monstrous battery lasts up to 2 days even with heavy usage. It sports a chic “3D Glasstic” look, the premium glass-like glossy surface made of plastic adds durability to the phone. The side-mounted fingerprint scanner picks up fingerprints like a magnet.

6. Poco X3 for INR 15,999/-

SpecificationsDisplay6.67 inches, 1080×2340 pixelsProcessorQualcomm Snapdragon 732GRAM6GBStorage64GBBattery Capacity6000mAhRear Camera64MP + 13MP + 2MP + 2MPFront Camera20MP

Poco X3 is the best phone under 20000 with the best battery life. It is equipped with a 6000mAh battery which lasts more than 1.5 days on a full charge. The phone battery quickly charges to 65W and is at 100% in just 65 minutes. It boasts of consistent performance enabled by the octa-core Qualcomm Snapdragon 732G processor. Loud stereo speakers and an LCD panel with a Full HD+ resolution, making the device ideal for a great gaming experience.

Best Phone for Gaming

7. Realme 6 Pro for INR 15,999/-

SpecificationsDisplay6.7 inches, 1080×2400 pixelProcessorQualcomm Snapdragon 750GRAM4GBStorage128GBBattery Capacity5000mAhRear Camera48MP + 8MP + 2MPFront Camera16MP

Realme latest phone is the 6 Pro, a mid-range flagship device capable of high-performance gaming. Featuring the powerful Snapdragon 720G chipset and a wide 6.6-inch LCD display. The device has 8GB of RAM and 128GB of expandable storage, for the ultimate gaming experience. Its 4300mAh battery lasts over a day and can be quickly powered using 30W fast charging for uninterrupted gaming. A capacitive fingerprint sensor is built in the power button and a face unlock option is also available.

6. Poco X3 for INR 15,999/-

SpecificationsDisplay6.6 inches, 1080×2400 pixelsProcessorQualcomm Snapdragon 720GRAM6GBStorage64GBBattery Capacity4300mAhRear Camera64MP + 8MP + 12MP + 2MPFront Camera16MP + 8MP

Moto G 5G is the latest and best phone in the market under 20,000 for gamers. It is a 5G ready smartphone from Motorola equipped with the latest Qualcomm Snapdragon 750G. It improves CPU performance by 20% and allows headroom for smooth performance while playing the latest games. To improve your gaming experience, the 6.7” FHD+ Max Vision display is supported by HDR10 and a fast-charging 5000mAh battery which lasts over 2 days.

The All-Rounder!

9. Motorola One Fusion+ for INR 17,499/-

SpecificationsDisplay6.5 inches, 1080×2400 pixelsProcessorQualcomm Snapdragon 730GRAM6GBStorage64GBBattery Capacity4300mAhRear Camera64MP + 8MP + 12MP + 2MPFront Camera16MP + 8MP

Motorola One Fusion+ is one of the best phones with snapdragon under 20000 with an all-round performance. This budget-friendly smartphone sports a pop-up selfie camera and an all-screen 6.5-inch display. It is HDR 10 certified and offers a great viewing experience with an IPS panel and a loud bottom-firing speaker. Powered by Qualcomm Snapdragon 730G processor, the device is great for multi-tasking and intense gaming. A powerful 5000mAh battery supplied through an 18W charger lasts for over 2 days after a full charge in around 2 hours. Good photos can be captured even in low light through its quad-camera setup with a 64-megapixel primary camera.

10. Redmi Note 8 Pro for INR 17,999/-

SpecificationsDisplay6.53 inches, 1080×2340 pixelsProcessorHelio G90T Professional Gaming ProcessorRAM8GBStorage128GBBattery Capacity4500mAhRear Camera64MP + 8MP + 2MP + 2MPFront Camera20MP

Redmi Note 8 Pro is one of the best budget phones under 20k equipped with stunning features. Powered by Helio G90T Professional Gaming Processor and a mighty battery of 4500mAh, the device delivers robust gaming performance for up to 10 hours. It is India’s first phone with built-in Alexa and the most influential AI Quad Camera Array. It can be called Redmi best phone under 20000 for its performance, looks and capacity.

Low on Budget? mPokket has you covered!

Now that we have helped you decide which phone to buy, mPokket instant loan app for students can help you order the best one too. Being India’s best instant student loan app, we offer loans from Rs.500 up to Rs.50,000 to college students directly into their bank account.

A medical emergency can present itself anytime, anywhere. So, it's prudent to stay prepared. Fortunately, there are several avenues at your disposal when faced with a financial challenge in the event of a medical emergency.

Imagine someone in your family who has to undergo a bone marrow transplant. In addition to the stress of having a loved one undergo a life-threatening surgery, you are faced with the prospect of footing medical bills that will run into tens of lakhs, if not more.

In such a dooms-day scenario, what is your way out? Running high credit card bills? Health insurance? Investment liquidation? Or should you take a loan? Read on to find out.

Can Your Employer Help?

Have a stable job? You're in good hands!

Almost all large or mid-sized companies that offer full-time employment also provide health insurance as a workplace benefit. Additionally, they also subsidize the insurance premiums of their employees, including their children, spouses, and dependents.

How About An Emergency Fund?

As ideas go, this is not a bad one. Imagine a safety net, something to fall back on in the event of a financial emergency.

The rule of thumb to creating a financial emergency corpus is that it should preferably last you for a good six months.

When starting a financial emergency fund, don't forget the rule of thumb. Also, if it's worth doing, its worth doing well.

Maintain the financial emergency fund religiously. Make sure that you transfer a predetermined amount every month without fail. Unless, of course, it's a financial emergency!

A good practice is to create a wholly separate bank account for this purpose. Alternatively, you could also invest in an instrument that can be liquidated with ease while delivering a decent rate of return.

The first step is always the hardest. Fortunately, once you start saving, it gets easier. With every passing month, you'll be able to save more.

Don't lose sight of the reason you got into the financial emergency fund in the first place. The fund is for a medical emergency and not for the latest accessories to your smartphone.

Medical Insurance

All said and done, this is the most common remedy from financial challenges during a medical emergency. As already discussed before, if you are a full-time employee of an organization that provides health insurance, you're saved.

However, if you're self-employed, you should ensure that you and your family are covered. Subject to the amount of premium you're willing to pay, you can avail a host of insurance options.

Subject to the plan of your choice, you can either pay the premium monthly or annually. There are 2 ways in which an Insurance company reimburses its takers.

One way is to offer hospital services in a cashless manner to a patient in a hospital that is within the insurance network. The other is to reimburse the cost that has been incurred.

Furthermore, medical insurance is tax exempted under section 80D of the Income Tax Act, 1961.

No, Selling Physical Assets Is Not The Answer

Unfortunately, most of us do not really take adequate precautions to prepare for a rainy day. This puts us in the spot when it comes to dealing with a medical emergency.

In addition to a series of steps that you can take in order to face a medical emergency, there are pitfalls you should avoid at any cost.

One of these pitfalls is to look upon physical assets such as gold and real estate as a source of money, especially during a financial emergency.

Of all assets, real estate is the least liquid one. Selling it during a boom can sometimes be daunting. Trying to sell it in a rush, such as when you need urgent cash, is even worse.

A distress sale will severely hurt your bargaining power which, in the worst-case scenario, could altogether defeat the very purpose of your sale in the first place.

Rule of thumb? Never rely on real estate to bail you out during a rainy day.

Compared to real estate, gold is an easier sell. Having said that, recovering the full value is always difficult. During the purchase, the making charges will always be deducted by the buyer. This includes bars as well as jewelry.

Additionally, the purity of gold is also an issue. To be sure, gold is more liquid than real estate. At the same time, it is always a hard sell. What complicates selling gold further are the sentiments, nostalgia, and memories that people associate with their gold.

At mPokket, we understand that, despite your prudent financial planning, from time to time, you may face a financial emergency of some form. During those testing moments, you'll need a trusted friend by your side, someone who will not just provide moral support but will help you out financially as well.

mPokket is one of the best instant loan apps in India. Download and install our app from the Google Play Store, register, and get approved. Take a loan starting from Rs.500 up to Rs.50,000 instantly.

The money will be credited directly into your bank account.

Personal finance management was an important lesson learnt during the COVID crisis. As we have already stepped into 2021 with high hopes, let's make this year better than the last one. If you're among the ones to whom money and finance seem confusing and boring, we suggest making it entertaining through finance movies.

We have curated a list comprising the top 10 movies to watch to improve your Finance knowledge.

The Top Picks of All Time!

1. Wall Street (1987)

Wall Street is an American dramatic film and one of the most popular finance movies. The movie showcases Oscar-winning performances by stars Michael Douglas, Charlie Sheen, and Daryl Hannah. Charlie plays the character of Bud Fox, a young and ambitious stockbroker inspired by the wealthy corporate raider Gordon Gekko played by Michael. Fox aspires to be rich and wanted to be mentored by Gekko, he resorts to insider trading to entice Gekko into mentoring him. The important lessons to learn from Wall Street movie are – Money either works for you or against you, and time is as precious as money. It has been over three decades, but the movie and its insights are still relevant today.

2. Margin Call (2011)

Margin Call is the most insightful finance-related movie ever. Written and directed by J. C. Chandor, the movie narrates 24 hours in the life of a fictional investment firm. The story places you amidst the chaos of a crumbling Wall Street firm, mirroring the 2008 financial collapse. Margin Call explains the benefits of portfolio diversification for real-life companies and how to leverage investing comes with additional risks. Another important lesson is – stock markets fluctuate and are corrected after each monumental gain or loss. The movie has a pleasantly unbiased approach, which makes it the best stock market movies of all time.

3. The Wolf of Wall Street (2013)

Directed by Martin Scorsese, The Wolf of Wall Street is the biopic of Jordan Belfort. The famous stock scammer was portrayed by Leonardo DiCaprio and was one of his best performances. Based on true events, the movie circles around stock fraud and money laundering. It will improve your knowledge about the stock market before you plan to invest your hard-earned cash. Besides the importance of diversifying your investment, the movie reflects on the prominence of research before investing and how cautious buying based on company fundamentals is essential. Long-term success needs experimenting is another valuable lesson from this masterpiece of stock market movies.

4. Trading Places (1983)

Trading Places is an American comedy film that addresses key issues of the financial markets in a light mood. Louis Winthorpe (Dan Aykroyd) is a wealthy stock trader, while Billy Ray Valentine (Eddie Murphy) is a criminal. In the course of the movie, Billy is appointed as the Managing Director of the firm Duke & Duke, while Winthorpe is convicted on false charges of fraud and drug dealing. Being one of the top movies on the stock market it deals with the financial concepts of commodity markets. It closely depicts the impact of demand and supply in the stock market. You can also catch a glimpse of manual trading through ‘open outcry' on a traditional trading floor setup.

5. Boiler Room (2000)

Ranked among the iconic finance movies, Boiler Room offers action-filled sequences for day traders and investors. The story portrays Seth Davis (Giovanni Ribisi) as a college drop-out who joins a stock brokerage firm and convinces people to invest in pump and dump schemes. Boiler Room raises alarm against these schemes, which are prevalent in the markets even twenty years from when the movie was released. It warns inexperienced traders of the unprecedented outcomes of investing in penny stocks.

6. Rogue Trader (1999)

Rogue Trader is a great lesson in risk management and financial oversight. It is the story of an ambitious investment broker, Nick Leeson (Ewan McGregor) whose greed led to the insolvency of Barings Bank, one of the most important banks in Britain. He used malpractices and took advantage of the weak compliance practices of the bank leading to its downfall. The movie lays down the importance of implementing a logical trading plan and establishes doubling down as a bad trading strategy. Another important lesson is to not consider random success as talent and skill, like in the case of Leeson, who was driving 10 percent of the bank's profits through sheer luck.

7. Bazaar (2018)

Bazaar is one of the best Bollywood movies on the stock market. The thriller revolves around Rizwan Ahmed, a stock trader from Allahabad. He arrived in Mumbai with the determination to join the trading firm of Gujarati financial maven Shakun Kothar. The movie gives us important trading lessons like fact-checking, and not going carried away while investing. Also, for sustainable returns keep track of company fundamentals and avoid quick money tips. Rizwan's character also shows us that without proper research you cannot excel in the market by copying others.

8. Gafla (2006)

Gafla was directed by Sameer Hanchate and was released in 2006. It is one of the most popular Bollywood movies on the stock market. It is inspired by the stock market scam of 1992 involving Harshad Mehta. The movie outlines the loopholes in the system and showcases how Harshad took advantage of the situation. The matter was blown out of proportion by the Government's response while the Indian public suffered huge losses.

9. The Big Short (2015)

The Big Short is based on a nonfiction book by Michael Lewis. ‘The Big Short: Inside the Doomsday Machine' was the inspiration for this movie. The story revolves around a group of traders, played by stars like Steve Carrell, Ryan Gosling, and Christian Bale. These characters predicted the US housing bubble and planned to make money from it. It explains how the financial crisis in 2007-2008 was triggered. The main learnings from the movie are – ratings and rumors must not be believed. It also establishes the importance of grabbing opportunities, even during a market collapse.

10. Glengarry Glen Ross (1992)

The classical cult, Glengarry Glen Ross, was written and directed by David Mamet. The Broadway award-winning story revolves around four salespersons working in the cutthroat real estate business. These desperate men con the weakest by selling properties to them at rates higher than their valuation. The sales race got ugly when they started conspiring against each other and Jack Lemmon even broke into Glengarry's office to steal sales leads. Their sales attitude wasn't rewarding, and they were far from the principles of honest living.

Facing Money Crunch?

You must watch these finance-related movies to brush up your knowledge through these entertaining resources. They will help you gain insights into personal finance management and manage your money better. In case you are facing a money crunch, remember to make informed decisions and avoid falling in for scams and fraud.

mPokket is a trusted instant personal loan app in India. It offers instant personal loans online for students and salaried professionals.

Download and install the mPokket app to never run out of money. You can easily avail of an instant loan without documents and receive money directly into your bank account.

From work and play to eating and travelling, digitisation has played a key role in dramatically changing the way we go about our lives.

Nowhere is this more apparent than in the banking sector today. Digital banking is increasingly becoming the norm while physical transactions are going the way of the dinosaurs slowly but surely.

That's why we decided to go through a few key features of digital banking that you need to be aware of.

Whether you're a senior citizen who's still getting to grips with the nuances of digital banking or a school-going student taking the first strides into financial independence, it's important to be aware of these features of digital banking.

Online banking and mobile banking

This is the aspect of digital banking that is most commonly known to most of us. Almost every bank with the possible exception of some post office banks have adopted online banking.

It is beneficial for both the bank as well as its customers. Not only can the account holders carry out their transactions from the comfort of their home at any time of the day – including bank holidays – it also reduces the load on the bank personnel.

During the ongoing coronavirus pandemic, in particular, online banking has been a boon, especially for those most vulnerable to the virus.

Aside from your basic transactions, online banking also offers other convenient services like issuing new chequebooks, credit and debit cards, applying for loans, or making new investments.

Mobile banking takes online banking to the next level, as you can do all of the above on the go on your smartphone.

Opening an account

While the activities described above are no doubt immensely convenient, until recently, certain needs still require you to go to the bank, such as opening an account. This is no longer the case, as many banks now allow you to open a new account from the comfort of your couch.

All you have to do is head to the bank's website, type in a few details, upload scans of the necessary KYC documents, and presto, your new account will be up and running within minutes.

Whatsapp banking

Most of us use Whatsapp to chat, video call, and send images. It is the most popular messaging tool in India, used by everyone from uncles sending ‘Good Morning' messages, to kids sharing the latest memes.

Taking note of this immense reach offered by the presence of Whatsapp on everyone's smartphones, many banks have gone ahead and introduced Whatsapp banking.

By simply connecting to the bank's Whatsapp number, you can check on the various particulars of your account such as your account statement, credit card balance, investment offers, nearby ATM locations, and lots more.

You can obtain the necessary information simply by typing the respective keyword from their list of options that show up on your screen.

Note that this is more of an informational interaction than an operative one. Its goal is primarily to give you quick information at a glance and save time by not having to log into your bank account or have to visit your bank physically to check up on minor details.

Digital Wallets / e-Wallets

While the introduction of credit and debit cards made our lives immensely easier, digital wallets or e-wallets are the next big step in adding another layer of convenience to cashless transactions.

Credit and debit cards reduced the dependency and risk of carrying large amounts of cash on your person. However, you still had to take care of the cards themselves. If they fell into the wrong hands, their misuse was almost guaranteed.

With e-Wallets, such as Paytm, Google Pay, and PhonePe, to name a few, all you need is the phone you carry around in your pocket. By simply entering the payee's number or scanning his QR code, you can safely carry out the transaction from your bank account.

Unified Payment System

Similar to digital wallets, Unified Payment System (UPI) is another boon that cuts down significant hassle compared to the olden days.

Back in the day, depositing money into a friend or family member's account meant writing out a cheque and queueing up to submit it with a payment slip physically at the bank.

Today, just like with digital wallets, you can transfer money with a few taps on your smartphone using a UPI app.

The main difference between digital wallets and UPI is that UPI transactions occur between two different banks while digital wallets involve transactions between two accounts within the same e-wallet (For example, Paytm).

Planning Finances

Another value-added service that more and more banks have been coming up with are tools that help you manage your wealth as per your means and requirements. These tools include loan, premium, and tax calculators, investment analysis, and budgeting, to name a few.

These extra features go a long way in helping out those customers in particular who are not too well versed in matters of money. Not only does it help them grow their savings but also avert any costly lapses.

Bill payments

Life in modern society involves using a lot of services such as electricity, gas, the internet, and television, and that means a pile of bills land up outside your door every month.

With the convenience of digital banking, you can set-up all your bills with your bank account for convenient auto-payment every month.

Notifications

While online banking has its merits, it also has its pitfalls. Given the nature of the digital landscape, hackers and scammers are always prowling about, looking for ways to relieve you of your hard-earned savings.

One of the most important defenses against this is real-time message alerts or notifications that banks send to your phone as soon as a transaction takes place.

Should an unauthorized transaction take place, you are immediately made aware of it and can reach out to the bank to take timely action.

We must stress that it's important to arm yourself with the knowledge to be aware and avoid scams in online finance.

Our mPokket instant loans involve a fully online paperless process with the amount transferred straight to your bank account and as such, we highly encourage you to avail the online banking facilities offered by your bank.

Also, when you share your personal details with us, we ensure that it never falls into the wrong hands. We employ state-of-the-art technology and online safety standards to ensure that your confidential and sensitive information is always in safe hands.

Nouveau digital banks are disrupting conventional financial services and how!

They are making them cheaper, easier, faster, and more accessible.

The expectations of modern banking customers have changed. So have the trends in digital transformation.

Competition from mobile-only banks, digital banks, and Fintechs has given conventional financial institutions something to think about.

To be sure, the gamut of services offered by digital banks and are identical to the ones offered by brick-and-mortar banks. Yet, Fintech enjoys certain subtle but undeniable advantages over traditional banks.

FinTech consumers have greater power and control over their financial decisions. This, in turn, leads to enhanced financial literacy.

By incorporating Big Data and the latest digital technology with conventional financial instruments, the FinTech industry has made the life of its customers easy.

Contactless Payments And e-wallets

The Apple Card and the success that it enjoyed drove the rapid adoption of e-wallets. The Mercator Advisory Group conducted a mobile payments research just before the launch of the Apple Card in Aug 2019.

It clearly shows that the traction of mobile payments substantially picked up after the launch of the Apple Card.

According to the Mercator Advisory Group, the initial launch of mobile wallets was greeted with a lot of optimism by the market. Unfortunately, the subsequent adoption of the technology failed to live up to the initial hype.

The lack of user-friendliness when it came to these apps was one of the contributing factors behind this lack-luster acceptance.

Thanks to the launch of the Apple Card, e-wallets once again enjoyed an upsurge in applications across industries. Among these, retail leads from the front with widespread adoption across global chains such as Walmart and Starbucks.

Apple Pay uses near-field communication technology, unlike the e-wallets used by the aforementioned retail giants, which use QR codes or barcodes.

Industry experts are of the opinion that both technologies will continue to enjoy healthy traction within the industry.

Bar codes are independent of carriers or devices. This means that you do not have to split your revenues with a device maker – something all card issuers must do when operating with Apple.

Contactless card usage is also expected to surge in the coming years. Industry leaders are ready to jump on the bandwagon, upgrading their card proposition with additional tap-and-go features.

This can only be good for the speedy adoption of e-wallet technology. With a better part of their day spent on their smartphones, Gen Z and millennials are more comfortable making payments via their handheld devices than plastic cards.

The next step in contactless payments would be a smartwatch or some other form of wearable device. It can be used with ease while even holding a cup of coffee.

The Retail Banking Disruption

How we choose to pay for our goods and services says a lot about the adoption of financial instruments.

According to a Digital Banking Consumer Survey conducted by PWC, 46 per cent of the participants use digital channels exclusively when conducting their financial transactions. This includes tablets, PCs, and mobile phones.

According to the same survey, 82 per cent of those surveyed who belonged between the age groups of 18 to 24 submitted that they use mobile banking.

60 per cent of all smartphone using participants in the survey admitted to availing mobile banking in some form or the other.

Financial institutions all over are experiencing one trend across the board. Previously, they catered to customers who were omnichannel users – banking through their smartphone apps, call-centres, website and even visiting their physical branches.

Slowly but gradually, omnichannel customers have paved the way for Omni-digital customers. Needless to say, this has led to widespread disruption across the traditional business model – staffing, investments, strategy, etc.

Modern banks need sophisticated personalization capabilities and analytics. They also need to become nimble in order to keep up with their younger and digitally savvy consumer base.

Digital transformation affects every facet of the traditional banking model – native core transformation, faster integration, and API rethinking.

Even business agility is affected – product customization, customer value propositions, pricing, real-time distribution and learning, and product manufacturing.How we choose to pay for our goods and services says a lot about the adoption of financial instruments.

According to a Digital Banking Consumer Survey conducted by PWC, 46 per cent of the participants use digital channels exclusively when conducting their financial transactions. This includes tablets, PCs, and mobile phones.

According to the same survey, 82 per cent of those surveyed who belonged between the age groups of 18 to 24 submitted that they use mobile banking.

60 per cent of all smartphone using participants in the survey admitted to availing mobile banking in some form or the other.

Financial institutions all over are experiencing one trend across the board. Previously, they catered to customers who were omnichannel users – banking through their smartphone apps, call-centres, website and even visiting their physical branches.

Slowly but gradually, omnichannel customers have paved the way for Omni-digital customers. Needless to say, this has led to widespread disruption across the traditional business model – staffing, investments, strategy, etc.

Modern banks need sophisticated personalization capabilities and analytics. They also need to become nimble in order to keep up with their younger and digitally savvy consumer base.

Digital transformation affects every facet of the traditional banking model – native core transformation, faster integration, and API rethinking.

Even business agility is affected – product customization, customer value propositions, pricing, real-time distribution and learning, and product manufacturing.

The Challenges to Digitization

Retail banks, which include credit unions and thrift banks, continue to spend tens of billions of dollars developing their in-house IT personnel, software, and hardware services.

The modern consumer demands services that require banks to innovate, both in terms of their business models as well as technology.

Unfortunately, the going consumer perception is that the industry is not innovating at a pace that is warranted.

According to a Banking Report by Salesforce, around 25 per cent of the participants surveyed that retail and healthcare are experiencing digital transformation faster than the banking sector.

As is clear from the discussion above, FinTech ventures are offering new avenues to consumers to manage, lend and borrow money. They are giving the traditional brick-and-mortar banking institutions stiff competition when it comes to keeping up with the digitally savvy customer.

mPokket is a FinTech venture in the instant loan-app segment that caters to college students and young professionals. You can download our app from Google Play Store, install and register with a handful of documents and borrow from Rs.500 to Rs.50,000.

Download the mPokket app today.

The Employees' Provident (EPF) is also commonly referred to as the PF. It is a savings scheme that has been established by the government for employees in the organized sector.

The Employees Provident Fund Organisation (EPFO) declares the EPF interest rate every year. It is a statutory body that comes under the Employees' Provident Fund Act, 1956.

In 2020, the EPF account interest rate was 8.5% annually. Only companies that are registered under the EPF Act can allow their employees to invest in PF or EPF.

Both the employee and employer contribute 12 percent of the employee's dearness allowance and basic salary to the EPF account every month.

What is PPF?

PPF, short for Public Provident Fund, is a savings scheme that is offered by the government. It is a popular tax-saving instrument that comes under section 80C.

The objective behind PPF is to serve individuals across all sectors. Even blue-collar job holders can invest and save small amounts.

A PPF account delivers higher returns than a savings account. How? PPF accounts are locked in for a period of 15 years.

In a year, you can invest up to Rs. 1,50,000. A minimum investment of Rs.500 is mandatory every year.

The complete Rs. 1,50,000 qualifies as tax deductions annually.

What is the difference between PPF and PF?

ParameterPPFEPFInvestment eligibilityEmployees enjoying salaries with reputed organizationsAll individuals, including those with informal jobsWho contributes?SelfEmployer and employeeWhat is the minimum investment?Rs.500/year12% of basic salaryWhat is the maximum investment?Rs.1,50,000/yearEmployer contribution capped @ 12%; employees can contribute as much as they wantLock-in period15 yearsTill retirement

What are the disadvantages of PPF?

You cannot withdraw the amount partially from PPF 5 years from the year you opened the account. This is applicable even in the case of emergencies or if you are unemployed.

The time duration for PPF is 15 years – a considerable span that extends beyond a single generation.

Traditionally, EPF always had a higher rate of interest than PPF.

The rate for PPF is fixed. This means that instruments such as the National Pension System (NPS) or mutual funds will deliver higher returns since they are equity-linked.

What are the disadvantages of EPF?

Only employees of organizations that come under the EPF Act can avail EPF benefits.

Organizations that have 20 or more employees are eligible under the EPF Act. Retired or self-employed individuals cannot avail EPF.

The EPF contribution is fixed. It is 12 percent of the DA and Salary from the employee and employer. The amount cannot be less than this.

Employees, can, however, contribute more through the Voluntary Provident Fund (VPF).

In case of PF withdrawal from EPF before 5 years, the amount is taxable.

Imagine you have shifted base from an EPF registered company to a non-registered one. Or, you've become self-employed.

If either of the aforementioned scenarios come to pass, you cannot contribute to your EPF anymore.

What's worse, after 3 years, your account will stop accruing interest.

The NPS (National Pension System) or Mutual Funds will always deliver higher long-term returns than EPF.

How does taxation work for the 2 instruments?

If you withdraw your EPF within 5 years from the start date, it becomes taxable. PF withdrawal from PPF is not taxable.

If you invest in the EPF, you qualify for tax deduction under Section 80 C of the Income Tax Act. Up to Rs.1.5 lakh is exempted annually.

Both employee and employer contributions are included in this exemption. Unless you're unemployed, interest on EPF is also exempted.

If you withdraw more than Rs.50,000 within 5 years from your EPF account, TDS will be deducted.

The Income Tax Act of 1961 allows up to Rs.1.5 lakh investment per annum in PPF to be tax-deductible under Section 80C.

If you declare the interest that you earn on your PPF in your annual returns, it is also tax exempted.

Furthermore, even the PPF maturity amount is exempted from tax.

Which is the better instrument to invest in?

Simply put, EPF is a better option than PPF. This is because the employer also contributes to the EPF account.

No such provisions exist for PPF.

Secondly, to meet personal contingencies and emergencies, you can withdraw your EPF amount anytime.

With PPF, you can only withdraw the funds upon maturity.

Third, EPF delivers a higher interest rate than PPF.

Fourth, you can transfer EPF from one employer to another.

Fifth, under certain conditions, you can withdraw the amount partially.

Sixth, EPF is deducted directly from the salary. This means that you do not have to take additional steps to deposit the amount from your savings account every month.

All said and done, it is up to you which instrument you choose to invest in. We hope that the aforementioned pointers will help you make informed decisions.

mPokket is one of the most popular instant loan apps in India. It caters to both college students and young professionals.

Simply download and install the app, register with a handful of documents, and borrow Rs 500 up to Rs.50,000 in a matter of seconds. The money will get credited directly into your bank account.

Love to travel but facing a money crunch? Here's how you can manage!

One of the more popular memes while scrolling through our social media feeds is the one that proclaims, “If traveling was free, you'd never see me again!”

Unfortunately, as we all know, not only is traveling anything but free, the expenses that go into even a quiet little weekend getaway at the other end of the state are significant enough these days that many of us need to set aside a travel kitty just to ensure that our little sojourn doesn't eat into our core expenditures.

This is particularly true for those who are still in the process of paying their dues for funding education as well as those who've freshly stepped into the working life, and any spare change that goes towards luxuries such as pleasure trips has to be managed meticulously.

With that in mind, here are some suggestions for optimizing your travel budget to ensure you extract the best experience for your buck.

Stay grounded

While the miracle of modern flight has made covering vast distances quickly a cinch, they also come with a pinch – to your wallet, that is. When every rupee counts, you're better off sticking to a travel plan that you can pull off via rail or a road trip rather than by splurging on an air ticket. The money you save can help offset the costs you will incur once at your destination, such as the hotel stay, food, mementos, and whatnot.

Trim the fat before flying

However, there may be other considerations at play such as a limited number of leaves from work, for example, and as such, not everyone might have the time for slower land-based travel modes. So, if you must fly, make sure you do your homework before purchasing your flight tickets.

One of the first things to do is try and plan your trip well in advance. This will allow you to book your tickets months in advance when they are at their cheapest. That is even more true now than ever, as the travel and tourism industry is in the process of bouncing back from the devastating after-effects of the coronavirus pandemic and many companies are offering unprecedented discounts and offers to encourage travelers.

Go Public

Once at your destination, avoid the temptation to book an Uber or hail a taxi or auto to get around and stick to buses, local train or metro rail network instead. All available bus and rail routes you need to use to reach your destination are just a click away on your smartphone.

Using public transport will also give you a better feel for your surroundings than being ensconced in a private air-conditioned cab that shuts out most of the aspects of a road trip like sights, sounds, and smells.

Sleep under the stars

Unless you have a friend or relative living in your chosen destination where you can shack up during your stay, hotel stays take up a significant chunk of change while traveling.

However, if your destination is located in the great outdoors enveloped with a pleasant climate to boot, you might be better off opting to set up camp under the stars instead. It's a growing trend with many youngsters in particular, who prefer to ditch hotels and opt to get up close and personal with the fauna instead.

However, do ensure you're adequately stocked up on essential supplies like a tent (obviously!), sleeping bag, medical supplies, food, clean water, basic cooking equipment, flashlight, and power banks, to name a few.

Also, a trip like this is best and most safely experienced as a group, with at least one member having prior camping experience.

Travel when everyone's not

Most tourist destinations have a peak season and an offseason, whether it be due to favorable climatic conditions during a few months of the year or an event such as a festival or carnival taking place, and as such, it's generally not preferable to visit outside that favorable travel window.

However, when you're on a slender budget, it's better to go off-season than not go at all. Sure, Goa during the monsoon season is hardly as much fun as when the sun's out and the crisp ocean breeze is flowing through your Aloha shirt, but you can still enjoy a worthwhile and memorable time nonetheless. Perhaps you can spend the spare change on some of the choicest local Vindaloo instead!

Food for thought

You can always stroll down to your local upmarket restaurant near your home when your finances are flush after a payday, but when you're traveling, pass on the pricey places and take in the local street food instead. If you want to take in the soul of a place through its food, a swanky restaurant is no match for the fare on offer at a bustling street-food joint, imbued with the zing and spice of the local culture. And, it's immensely cheaper!

Better yet, if you're even a bit gastronomically-inclined and are staying at a dormitory equipped with a kitchen instead of a hotel, you can buy fresh local produce and whip up a quick meal yourself and completely opt-out of having to spend money at eateries.

Feel the travel bug biting again? Obtain a quick loan for travel today!

After close to a year of being cooped up within the four walls of your home, you are probably more inclined to head out and travel than ever before. Fortunately, with COVID-19 lockdown restrictions easing up across the nation and a nip in the air, many Indians are beginning to resume pleasure travels. However, if you are reconsidering it lest it dents your finances, don't pocket a handout from a close friend or loved one but mPokket a travel loan instead!

Simply download the mPokket app on your Android smartphone and fill out your basic information. That's all you need to do to apply for a instant travel loan. Whether it be ₹500 or ₹50,000, mPokket will approve and disburse your travel loan straight to your bank within a span of just 48 hours.