<div>An equal Monthly Installment Scheme or an EMI is a kind of loan that permits us to make fixed monthly payments over a fixed period of time. <a href="https://www.bajajfinserv.in/what-is-no-cost-emi" rel="noopener noreferrer" target="_blank">A zero-interest EMI</a> is a bit different and helps you to buy expensive products with almost no interest. So, EMIs are a great option when it comes to buying something but without investing a lump sum amount all at once.</div><div>But, when you opt for the regular EMI plan, you need to sign up for repaying the product price with a huge rate of interest over a fixed period like the part of each installment. But, here no-cost EMI is best since you do not have to pay any interest on the amount. But, first, you have to know what you can buy with this and how it can affect your credit score. However, to give you a clearer knowledge about it, we will discuss it below.</div><div>
        <img
          src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_af8ed038ee2d480f930a43e08912218d_mv2_35911ad98d.webp/xs.jpg'
          width='100%'
          height='auto'
          class='progressive-image'
          alt='Uploaded Image'
          loading='lazy'
          style='width: 100%; max-width: 600px; display: block; margin: 0 auto;'
        />
      </div><h2>Different Kinds of Zero Interest EMI</h2><div>Generally, there are two kinds of no-interest EMI available; one is online and another is offline. In most cases, when you opt for the zero-cost EMI option, you have to give up the discount you can get by paying upfront for the purchase. The seller then further gives the discount payment to the financial institution to cover the amount of interest. In simple words, the interest amount is already included in the price of the product.</div><div>In the other method, a processing fee must be given for the same. Here, you need to pay the processing fee to avail the zero-interest EMI facility. This procession fee is actually the amount of interest. Since the primary aim of Spare8 is to simplify the investing process, you can some tips here on how to strategically move forward to get the actual benefit in the long run.</div><h2>What One Can Buy with No-Cost EMI?</h2><div>No-cost EMI is mainly a marketing strategy of the retailers. Hence, the retailers always market their best-selling products with no-cost EMI credit to attract more people towards it and make them buy the products from their stores. Therefore, sometimes people think about what to buy from zero-interest EMI after getting trapped in marketing gimmicks.</div><div>So, with the help of the no-cost EMI, people can purchase expensive products like TV, refrigerator, washing machine, mobile phone, Air conditioners, etc. When people cannot afford a lump sum of money at once, it is best to opt for a no-cost EMI to purchase their favorite products without hassle.</div><div>Additionally, now you can also purchase other items like apparel, furniture, cosmetics, jewelry, etc. So, consider downloading the Spare8 app to know more about the long-term benefits of no-cost EMI and how taking loans with no-interest EMI brings advantages to the customer.</div><div>
        <img
          src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_8f46d44f34de4003badfbff6dd4739a5_mv2_25209cde24.webp/xs.jpg'
          width='100%'
          height='auto'
          class='progressive-image'
          alt='Uploaded Image'
          loading='lazy'
          style='width: 100%; max-width: 600px; display: block; margin: 0 auto;'
        />
      </div><h2>Does No-Cost EMI Affect Our Credit Score Portfolio?</h2><div>No-cost EMI is a very alluring scheme that every financial institution like banks offers to their customers. Banks offer this facility because the processing fee on this kind of credit is generally much higher than the conventional credit. Also, every customer generally sticks to this kind of credit for a longer period.</div><div>People often think about whether zero interest EMI and portfolio of credit score have any kind of connection. Well, the thing here one with a credit score below 700 won’t get the opportunity to apply for a no-cost EMI. So, yes, in a way they both are connected since your credit score matters here.</div><div>However, it is crucial to understand how long the loan term should be, as delinquent payments can further affect your credit availability. Apart from that, it is mandatory to make the payment of EMI on time. Otherwise, it can affect your credit score and that can impact zero interest EMI on the portfolio negatively.</div><div>Hence, to maintain a good portfolio is necessary to avoid giving late fee penalties. So, start conducting proper research so that you will get the strategy on how to maintain a good credit score portfolio easily to avoid unnecessary issues.</div><h2>Should You Opt for Zero-interest EMI?</h2><div>Before purchasing products with zero-interest EMI, you must know if you really need them right now. It is indeed an alluring option and it can give benefits. But people often end up purchasing items that they do not want at that moment. One thing you must keep in your mind is that you must check whether any hidden charges are mentioned to avoid unnecessary problems in the future.</div><div>Also, it is advisable to conduct proper research before applying for a no-cost EMI to maintain your credit score portfolio. Besides, it entirely depends on you whether you want to purchase expensive things at a comparatively high price than their actual price.</div><h3>Conclusion</h3><div>No-cost EMI is mainly a form of financing that helps customers to pay for an item in monthly installments if they cannot afford to pay a lump sum amount all at once. As a customer, you must be aware of the applicable charges on the zero-interest EMI as well.</div><div>However, if you download the app of <a href="https://www.spare8.com/buy-digital-gold" rel="noopener noreferrer" target="_blank">Spare8</a>, you get all the details of no-interest EMI and how you can strategically move forward after applying for no-cost EMI to avoid any negative effect on your credit score portfolio.</div><div><br></div>

An equal Monthly Installment Scheme or an EMI is a kind of loan that permits us to make fixed monthly payments.

What is Zero Interest EMI and is it suitable for your portfolio?

<div>In this digital era that we are living right now, a good CIBIL score is much needed when it comes to obtaining a loan. It is mainly a reflection of your current financial condition. Financial crises can arise at any time and feel the need for money to meet various needs.</div><div>Your credit score mainly tells your lender at a glance how responsible you are with your credit score. The better the CIBIL score, the higher the chances of getting your loan approved. Therefore, it is mandatory to maintain your CIBIL score so that you can take it whenever it is needed.</div><div>Everyone nowadays is trying to secure their finances from a variety of sources for reasons like starting a business, managing a home, or paying bills to the hospital via loans. Hence, you must need <a href="https://www.bajajfinserv.in/insights/7-guaranteed-ways-to-boost-your-cibil-score" rel="noopener noreferrer" target="_blank">tips to improve CIBIL</a> score to increase the chances of getting your loan approved.</div><div>You must know how you can improve your CIBIL score and get a loan at the lowest interest rate. However, this blog will let you know how you can effectively increase your credit score by following some tips.</div><div>
        <img
          src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_afa0af24a1ca4d10914ba8c4f41b1e4a_mv2_611be7e972.webp/xs.jpg'
          width='100%'
          height='auto'
          class='progressive-image'
          alt='Uploaded Image'
          loading='lazy'
          style='width: 100%; max-width: 600px; display: block; margin: 0 auto;'
        />
      </div><h2>About CIBIL Score</h2><div>Before knowing how you can improve your credit score, you must know what is CIBIL score first. CIBIL score is the score that mainly delineates your credit history and it depends on many factors like the number of your unsecured loans, your repayment history, and your unverified history among others.</div><div>CIBIL scores mainly can range from 300 to 900. If you have a CIBIL score between 300 to 549, it is considered to be poor credit. But, if your score is between 550 to 700, then you are having a normal average CIBIL score. So, the ideal CIBIL score is 750 to get your loan approved.</div><div>If you are in the dire need of a personal loan, then you must have a CIBIL score above 700. Though you can not change your CIBIL score overnight. You need to do some minor and major modifications to make a significant difference in your score. If you find several platforms where you can get some tips on how you can increase your CIBIL score with the proper strategy.</div><h2>Importance of the Good CIBIL Score</h2><h4>Loan Approval</h4><ul><li>Your credit score lets your lender know if you are worthy enough to take a loan. So, having a good credit score makes you worthy enough to increase the possibilities of getting your loan approved.</li></ul><h4>Interest Rates</h4><ul><li>To get a better interest rate on your loans and credit cards, the value of CIBIL score matters the most. If you do have a great CIBIL score, you might get a higher interest rate on your loans</li></ul><h4>Higher Limit Loan Approval</h4><ul><li>A good CIBIL score will be very helpful if you are thinking to get a high amount of loan. A good score can make you a low-risk borrower, it means financial institutions or banks will easily trust you and approve your high amount of loan.</li></ul><h2>5 Effective Strategies to Improve Your CIBIL Score</h2><div>
        <img
          src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_a675190838c04360a76bb9157fb61e06_mv2_a5af48e207.webp/xs.jpg'
          width='100%'
          height='auto'
          class='progressive-image'
          alt='Uploaded Image'
          loading='lazy'
          style='width: 100%; max-width: 600px; display: block; margin: 0 auto;'
        />
      </div><div>Now that we have realized the importance of CIBIL score, it is time to know how we can improve the score effectively. So, below are a few tips on how you can up your CIBIL score as soon as possible to get your loan approved.</div><h3>1. Spot the Inaccuracy by Checking Your Score Daily</h3><ul><li>If you are confident enough that you have paid all your loans and bills on time by maintaining excellent credit behavior, still having a low credit score can be irritating. Closely look at your score history to know where did you go wrong.</li><li>Therefore, it is mandatory to check your credit reports daily to spot any errors and inconsistencies. It is an effective way to improve CIBIL score. The online marketplaces now have simplified the entire process of monitoring credit history.</li><li>Some of the reasons behind the poor credit score include delays in updating your important information, putting incorrect information, etc. So, if you find this type of inaccuracy, make sure to rectify it immediately to improve your score.</li></ul><h3>2. Make Your Payments On Time</h3><ul><li>One of the major reasons behind having a poor credit score is the delayed payment of credit card bills. Therefore, it will always be better if you pay your bills on time to avoid an increased interest rate.</li><li>If you tend to forget to repay your bills before the due date, make sure to set a reminder. However, automated systems are beneficial which automatically deducted EMIs direct from your bank account every month. If you want to know some effective tips on how you can remember your credit bills’ due date, consider visiting Spare8 or downloading the app to increase your CIBIL score.</li></ul><h3>3. Do Not Exceed Your Credit Limit</h3><ul><li>Sometimes people reach the maximum limit of their credit card usage which can affect your CIBIL score. So, it is very crucial to check your credit limit to avoid a negative impact on your credit score. If you think your credit card spending is high, it will be best to customize the limit in sync with your forecasted spending.</li></ul><h3>4. Avoid Taking Multiple Loans</h3><ul><li>Searching for so many credit cards and loans in a short period does not paint a favorable image. Every time you are applying for a new credit line, your application will eventually lead you to hard inquiry and this can hurt your CIBIL score pretty much.</li><li>Therefore, taking one loan at a time is one of the tips to improve CIBIL score by paying it regularly. However, you can download the Spare8 app to make a good credit score profile with effective strategies.</li></ul><h3>5. Choose Longer Tenure</h3><ul><li>Choosing a longer tenure will be a helpful way to improve CIBIL score since it makes it easier for you to repay. Having credit cards and loans does not negatively affect your credit card score, but choosing a short tenure will hurt your credit score if you don’t repay on time. So, pay your EMIs comfortably to get loans easily to meet your financial needs.</li></ul><h2>Conclusion</h2><div>Financial crunches are very natural and it is not a bad thing to take loans from financial institutions. But maintaining a good CIBIL score is important to get the approval of loans immediately.</div><div>Remember, you won’t see any significant change in your CIBIL score right after you follow the aforementioned tips to improve CIBIL score. It takes at least 6 months to see a change in your CIBIL score.</div><div>However, if you are interested in <a href="https://www.spare8.com/buy-digital-gold" rel="noopener noreferrer" target="_blank">digital gold investment</a>, then consider downloading the Spare8 app to know how you can wisely invest in digital gold without the hassle of the KYC process. Also, you can start investing in digital gold with just one rupee. We care about our customers’ privacy, hence we maintain bank-level security with 256-bit encryption.</div><div><br></div>

You must know how you can improve your CIBIL score and get a loan at the lowest interest rate. However, this blog will let you know how you can effectively increase your credit score by following some tips

How To Improve Cibil Score | Spare8

<p>Spare8 believes in investing in emergency funds, these are the way of saving money for future unplanned stuff. Emergency saving funds are the money kept aside for natural disasters, medication, and other important things.</p><p>At Spare8 you can <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">buy digital gold</a> and plan to do a digital gold investment, this makes it easier and more secure.</p><img src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_cb372052784343258db59eba7a87e4c2_mv2_698b1a28f9.webp/xs.jpg' class='progressive-image' style='width:100%;max-width:600px;display:block;margin:0 auto;' loading='lazy'/><h2>Investing in an emergency fund</h2><p>We provide several benefits with a motto of making our customers' lives better. According to us investments are very important, and we think that an investment can secure your future. Investing in the short term is good but investing in emergency saving funds is very important as it acts like a helper in the worst times. Have you invested in an emergency fund? If not get started with investing in an emergency fund and you shouldn't delay anymore.</p><p>To make you get started, we have a few tips for emergency funds and those are as follows:</p><ul><li><p><strong>Plan</strong>: According to is, Planning is very important for anything you do, so plan. You should research the pros of an emergency fund and think of your future and your needs as well. This will bring encouragement and motivation to you which will help establish your mind and thought on the point of investment in an emergency fund.</p></li><li><p><strong>Open an account</strong>: It is the best option to have a separate account for investing in an emergency fund, this doesn't allow you to always keep a check on the investment's amount. If you will have the emergency fund in your regular account then you might get diverted and prefer withdrawing money for something which is not so important. What can be a better idea than opening an account at spare8? So get set started with the process today, we promise not to bother you with a lengthy KYC process instead we provide the simplest way.</p></li><li><p><strong>Invest and forget</strong>: Now when you have decided to invest in an emergency fund then you should also understand its importance. Understanding the same you should forget about your investment in the emergency fund, you should forget it until you are very much in need of it.</p></li><li><p><strong>Easy access</strong>: We understand you and your situation too, because of which you won't find any lock-in period at Spare8. Emergency funds are invested to be helpful in your emergencies regarding health issues, natural disasters, or any other important situations and not being able to withdraw the money you saved for such a period might create problems. But Spare8 wants you to be free from all sorts of issues and tension.</p></li><li><p><strong>Security</strong>: While you are investing in an emergency fund then you should also look for the security of your investment. Spare8 gives you purity, security and safety as well, so investing with us will be a great idea.</p></li></ul><h2>Benefits of an emergency fund?</h2><p>We at Spare8 have figured out all the advantages of investment in emergency funds, so let's know about them in brief.</p><ul><li><p><strong>Encourages saving</strong>: Emergency saving funds are a great way of investment, at Spare8 you can buy digital gold and invest it for your future emergencies. While you do this keep some amount of your cash investment also. In the process of investing on emergency funds, one can be encouraged by the pros of investment and might want to continue saving for emergencies. Sare8 doesn't have any fixed deposit rule because of which you can choose to invest the minimum or the maximum amount that you want to invest in emergency saving funds.</p></li><li><p><strong>Saves you from debts</strong>: An emergency fund can be a debt saver, suppose in future you have some sort of debt on you then you can withdraw your emergency fund and use it for the same. The best part of this is that at Spare8 you need not worry about the time of investment, you can invest today and get it when you want.</p></li><li><p><strong>Saves you from the poor situation</strong>: Who knows what's gonna happen tomorrow, maybe a natural disaster, health issues, housing problems or any such thing. Because bad times never tell before coming, so to be prepared for that, Spare8 lets you invest in emergency funds which don't require a fixed amount to invest and it lets you withdraw whenever you are in need of them.</p></li><li><p><strong>Reduces stress</strong>: We want our customers to be stress free and so we provide the best ways of investment. By investment on emergency funds, you can keep yourself prepared for the worst condition that might occur in the future.</p></li><li><p><strong>Helper in the worst times</strong>: Who stays by your side? Rarely anyone, right? But Spare8 and your emergency funds are going to be with you today, tomorrow and whenever you need us. So stop thinking and start bringing it into your practice and invest in your emergency fund so that you can secure yours as well as your family's future with it.</p></li></ul><img src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_d741d756d4024e8ba5bc8321fa34b5fb_mv2_bc35b85040.webp/xs.jpg' class='progressive-image' style='width:100%;max-width:600px;display:block;margin:0 auto;' loading='lazy'/><h2>Why choose Spare8?</h2><p>Here are some of the main reasons because of which you should choose us.</p><ul><li><p>We don't have lengthy KYC processes</p></li><li><p>No minimum or maximum limitations</p></li><li><p>We don't have any fixed or any other lock-in period</p></li><li><p>We assure you with 100% purity, safety as well as security</p></li><li><p>The Spare8's app is secured with 256-bit encryption.</p></li><li><p>Enjoy the bank-level security at Spare8</p></li><li><p>Your gold is secured by a regulated independent trustee</p></li><li><p>You can enjoy guaranteed 24K gold</p></li></ul><p>What are you waiting for? Plan an Investment in emergency funds and be on the safer side. At Spare8, you can enjoy several benefits of investment like you can buy digital gold, practice <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">digital gold investment</a>, invest without any boundation or limitation, start the process today without any long process, you can also withdraw the money whenever you want as we don't lock in your money and much more.</p><p>You can enjoy the services by Spare8 through our app available at the Google play store, and with this, you can choose to invest more smartly. Spare8 provides you full purity, safety and security because of which you can choose us over anyone else. So let's get started with the process of investment together.</p><p><br></p>

Spare8 believes in investing in emergency funds, these are the way of saving money for future unplanned stuff. 

Spare8: Invest in your emergency fund

<p>Spare8's mission is to simplify the way people invest, spend, see, and save money. Spare8’s micro investment platform boasts of the way you live today and is here to change your investment habits. We help users invest their spare change from everyday transactions to the nearest Rs 10, be it any mode of digital payment. Then the spare change is invested into digital gold. This helps an individual unintentionally invest every time they spend or splurge and aid them in becoming financially independent. Check below to know the daily saving tips with Spare8.</p><img src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_f0c80793b283432d8cbb11f8876db200_mv2_20305e75b3.webp/xs.jpg' class='progressive-image' style='width:100%;max-width:600px;display:block;margin:0 auto;' loading='lazy'/><h2>How to Save Daily with Spare8?</h2><h4><em>No Defined Cost</em></h4><p>The best feature of Spare8 is that it gives its customers the flexibility to invest as little and as much as they want! It doesn’t restrict an individual with minimum or maximum limitations with regards to their investment. You have the freedom to start investing with just one rupee and invest as much as you want to. A person can literally do his daily savings on Spare8 by regularly investing a minimum fixed amount and getting benefitted for life. Investment tips on Spare8 are here to keep you benefitted.</p><h4><em>No Lock-in Period</em></h4><p>Spare8 takes pride in providing its investors with the no lock-in period feature. You do not have to worry about a restricted deadline or maturity of redeeming your investment in digital gold. You have all the flexibility to invest today and take back the investment tomorrow. Investing in digital gold on Spare8 will really help you maintain an emergency fund where you can utilise your savings at the time of an uncalled situation without worrying about the lock-in period.</p><h4><em>No KYC</em></h4><p>While many people fail to reach their target of daily savings because of the hassles involved with the banking process. Spare8 does not drag customers' time with unnecessary lengthy KYC processes. Here, you can just provide your basic information and you are good to start investing with us.</p><h4><em>Guaranteed Security</em></h4><p>Owing to the purity and security risk it brings in, individuals do hesitate when it comes to investing in digital gold. But worry not when you are investing in virtual gold on Spare8! We have partnered with Augumont and Paytm to buy the digital gold and store them in vaults secured by regulated independent trustees. Customers are assured 100% purity, security, and safety of their investment in digital gold. Also, Spare8 uses bank-level security and its app is secured with 256-bit encryption.</p><img src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_b913f26ea1a7452e972394c2d38d6ddd_mv2_e93ccb4317.webp/xs.jpg' class='progressive-image' style='width:100%;max-width:600px;display:block;margin:0 auto;' loading='lazy'/><p><strong>Pay Less in Bank Fees</strong> - Once you start investing regularly on Spare8 you tend to cut down on the number of fees you were paying in the form of withdrawing cash from fee-ATMs, using credit cards and payment apps involving high usage fees. When you invest in digital gold on Spare8, you not only save for your future but also save the present you from unnecessary expenses.</p><p><strong>Use Spare8 to Help Track and Save Money</strong> - You can use the Spare8 app from any corner of the country you are in and get its assistance to check how much you have invested and how much you are making out of your spending.</p><p>It is essential for you to know how your money is working for you. Once you inculcate in yourself a daily habit of investing your spare change on Spare8, there is no looking back because saving then doesn’t just remain a habit but becomes a way of living. Get going and download the Spare8 app to start your daily savings today!</p><p><br></p>

Spare8's mission is to simplify the way people invest, spend, see, and save money. Spare8’s micro investment platform boasts of the way.

Spare8 Being the Best Alternative to your Daily Saving Routine

<h1>Ever wondered what those 3-digit credit numbers are and what is CIBIL score?</h1><div>This score, which is generated by TransUnion CIBIL, credit bureau based on your past credit information. A CIBIL score ranges between 300 to 900. In order to get a successful loan or credit card, it is mandatory for you to have a minimum score of 750 on your name. The higher the CIBIL score, the easier it gets for you to avail an extended line of loans from the bank.</div><div><br></div><div>When it comes to getting your loan or credit approved, credit score plays a major role. It is an essential part of a bank’s process to check your credit score via CIBIL before approving the loan or credit you applied for. Your CIBIL score provides banks an assurity and creditworthiness about you. So that they can be sure of you returning the loan on a timely basis. Know how to build good CIBIL score in this article below:</div><h2>Facts Related to CIBIL Score</h2><div><strong>Credit Status</strong> - When it comes to determining your credit status, CIBIL report plays a role here but CIBIL will not let you know in what purpose your scores are used. Know that your CIBIL scores can be utilised in credit assessments or elsewhere but the final decision regarding handing out the loan lies totally with the lending bank. It is really important for you to build good portfolio for CIBIL score.</div><ul><li><strong>Investment Information</strong> - This data comprises your savings and investment accounts with the banks. Your CIBIL report isn’t considerate of any transaction that took place with respect to such accounts. CIBIL report only focuses on your credit status and history, the credit history and debt actions you performed.</li><li><strong>Improvement in your Credit Score</strong> - Upon recording your data in the credit report, CIBIL doesn’t give you any suggestion to improve your credit score. You will not be advised or suggested to reduce the number of credit cards or take another loan or reduce the activity which is negatively impacting your score.</li><li><strong>Credit Utilisation Ratio</strong> - You should know that the ratio between your credit limit and usage should be maintained as 2:1. But, the CIBIL report on the other hand doesn’t mention this.</li><li><strong>Defaulters List</strong> - If a credit taker is unable to make a timely payment, CIBIL doesn’t put him under defaulters list or blacklist that individual. CIBIL will only inform you that your score has been impacted because of the untimely payment.</li><li><strong>Monthly Reports upto Last 3 Years</strong> - The Credit Information Report only stores up to the last three years monthly reports. Any monthly report prior to three years remains unrecorded. It is advisable that you check your CIR twice a year in order to identify any error in the report.</li><li><strong>Soft Inquiries</strong> - Your credit score is not hurt when you enquire about your score directly from credit bureaus. But, your CIBIL score gets impacted when credit card companies or banks enquire about your credit report from authorised entities.</li><li><strong>No Credit History doesn’t Mean you Have a Perfect Score</strong> - Many of the people assume that if they don’t own a credit card or haven’t taken any loan then they have succeeded in maintaining a perfect CIBIL score. On the contrary, such individuals will have a tough time in getting their request for a credit report or enquiring about credit score from CIBIL.</li><li><strong>CIBIL Score can be Checked Numerous Times</strong> - You have all the freedom to check your CIBIL score as many times as you wish to. An individual shouldn’t be hesitant to inquire about his CIBIl score directly from the credit bureau as this will not impact their credit score.</li><li><strong>Applying for Multiple Loans/Credit Cards can Lower your Score</strong> - Opting for multiple credit cards or loans could hugely affect your credit score. More the home loan, personal loan, credit cards, higher the chances of you being dependent on credit and this will in turn decrease your creditworthiness.</li></ul><div><br></div><div>It is important and crucial for people to understand facts about CIBIL scores and implement them in real life. While you implement these facts in your life you make it a point to not let credit go on to your head.</div><div><br></div>

Ever wondered what those 3-digit credit numbers are and what is CIBIL score? 

CIBIL Score Facts you Should Know

<h1>Things to Know Before Investing in Digital Gold</h1><p>It's been ages since people started <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">investing in gold</a> and of course consider the yellow metal as a safer investment option than debt or equity. Now, with the growth in technology and people opting for digital advancements more than ever, it is no big deal for them to invest in the fast becoming popular — digital gold!</p><p><br></p><p>As it is known, online digital gold is a virtual product which allows you to buy and hold gold virtually without a safe or bank locker at your disposal. The online gold that you invest in is kept securely by the investment app or party you have purchased the gold on. Before you start investing in online digital gold it is of utmost importance that you know the pros and cons of virtual gold.</p><img src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_88453e2a919a4227b2107f1a2c050953_mv2_26a8381d01.webp/xs.jpg' class='progressive-image' style='width:100%;max-width:600px;display:block;margin:0 auto;' loading='lazy'/><h2>Pros of Digital Gold</h2><p><strong>Storage</strong>: When you buy or invest in digital gold on Spare8, you do not have to pay extra for bank locker rent, insurance cover, or additional investment of fixed deposit. Spare8 makes sure that your purchased virtual gold is stored in vaults secured by regulated independent trustees.</p><p><br></p><p><strong>No Defined Cost</strong>: You shouldn’t have that load of calculating the minimum amount while investing in digital gold on Spare8. We do not have any defined minimum or maximum limitations with regard to your investment. You can start investing in online gold with as little as a rupee and invest as much as you want to.</p><p><br></p><p><strong>Uniform Price</strong>: The price of physical yellow metal tends to vary from one city to another and from one jeweller to another. When it comes to digital gold, the prices of virtual gold stay the same across the country. While making charges involving physical gold is higher, digital gold comprises just the 3% GST.</p><p><br></p><p><strong>Instant Liquidity</strong>: While investing in digital gold, you need not worry about its redemption period. On Spare8, you will get the benefit of no lock-in period for your virtual gold. You can invest today and take back the investment even the next day. You can literally sell or redeem digital gold at the click of a button.</p><p><br></p><p>Once you sell the virtual gold, the value of it is instantly transferred into the bank account through a 24x7 market linked rate. Also, if you are looking for your digital gold redemption, the physical gold will be delivered to you at your doorstep.</p><p><br></p><p><strong>Collateral</strong>: One of the most awesome features of investing in digital gold is that you can use it as a collateral for taking loans.</p><img src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_bccb58cf388849828a9d812642f18f85_mv2_60a0cd4cdd.webp/xs.jpg' class='progressive-image' style='width:100%;max-width:600px;display:block;margin:0 auto;' loading='lazy'/><h2><a target="_blank" rel="noopener noreferrer" href="https://www.livemint.com/money/personal-finance/investing-in-digital-gold-know-the-risks-and-costs-involved-11599135754184.html">Risk Factor of Digital Gold</a></h2><p><strong>Paying GST</strong>: While investing in digital gold will save you from making charges, you will have to pay the tax for the same. Digital gold investment involves a 3% GST amount. When you sell your virtual gold, you cannot certainty expect the GST back from the next buyer.</p><p><br></p><p><strong>Spread Cost and Capital Gain Tax</strong>: While making an investment in digital gold, there is an additional cost charged from the investor in the form of spread cost. This cost is counted with multiple additional costs like storage cost and insurance cost. The spread cost generally ranges between 3% and 6%. If you plan to hold the virtual gold for less than 3 years, you will be charged with Short Term Capital Gain (STCG) tax. When you hold the gold longer than 3 years, you will be charged with Long Term Capital Gain (LTCG) tax at 20%.</p><p><br></p><p><strong>Delivery of Physical Gold</strong>: Digital gold is the best investment option only when you are looking for virtual gold. When you buy online gold and then go for its physical delivery you may be at a loss. There is a limit of up to what level of gold investment you can order for the physical delivery.</p><p>While there are always 2 sides of a coin. It solely depends on how you plan your investment in digital gold and get benefited. <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">Buy digital gold</a> on Spare8 now and see your money grow in no time!</p><p><br></p>

It's been ages since people started investing in gold.

Things to Know Before Investing in Digital Gold

<h1>3 Simple Tips to Start your Own Emergency Fund</h1><div>When you start enhancing your savings and rebuilding emergency funds, it provides you with much needed peace of mind knowing that there is money for emergencies! While saving money, question yourself, ‘are you prepared for an unexpected expense?’ It is a well known fact that almost 50% of earning people would be unable to handle an emergency expense based on their current financial situations.</div><div><br></div><div>When you earn, know that you should pay your future self first before letting out that money go for your present self. If you are living paycheck to paycheck then the financial struggle is real. We get you some hacks and tips to not get startled and overwhelmed from an unexpected situation and instead start an emergency fund for your future. Check below as to how to build emergency fund for yourself;</div><div>
        <img
          src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_3d5e707c66c54458b66dfc99142b0173_mv2_7219b259a3.webp/xs.jpg'
          width='100%'
          height='auto'
          class='progressive-image'
          alt='Uploaded Image'
          loading='lazy'
          style='width: 100%; max-width: 600px; display: block; margin: 0 auto;'
        />
      </div><h2>Tips for Making Emergency Fund</h2><div><strong>Tip 1</strong></div><div>Just Get Started: Do not wait for tomorrow to start saving and investing, start it today, start it now! Set a reasonable target for your savings, start with a little amount and then climb up the ladder. Money market, savings, and similar accounts are great for emergency funds as the money stays accessible to you when you need it the most.</div><div><strong>Tip 2</strong></div><div>Do not Add Debts: When you are trying to set yourself free from debt and paying it off, it is crucial to stop adding to it. Here, an emergency fund can aid you in avoiding debt. Like, if you need money for an unannounced operation, you will not have to go to someone else and ask for money, instead you can use your emergency fund and help your own self in such situations.</div><div><strong>Tip 3</strong></div><div>Use a Separate Account: Make a separate bank account that stays out of your mind and sight. Keep an automated deduction facility and this way you are unlikely to get tempted to use that money until some emergency strikes.</div><div><br></div><h1><a href="https://www.forbes.com/advisor/in/personal-finance/how-to-build-an-emergency-fund/" rel="noopener noreferrer" target="_blank"> Saving Tips for Emergency Funds </a></h1><div><strong>Accessibility:</strong> Most of the emergencies visit you fast and swift. If you do not have timely access to your emergency fund, it is really pointless to have one. While investing, ensure that the funds are easy to access so that you can answer your immediate expense without delay. When you invest in digital gold on Spare8, you save yourself from no lock-in period. This way you can invest today and take back the investment whenever an urgency knocks in.</div><div>
        <img
          src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_3ab7b409751d40b98c198575f82ac93f_mv2_8fefa440e1.webp/xs.jpg'
          width='100%'
          height='auto'
          class='progressive-image'
          alt='Uploaded Image'
          loading='lazy'
          style='width: 100%; max-width: 600px; display: block; margin: 0 auto;'
        />
      </div><div><strong>Security:</strong> When saving money for emergency purposes, know that this fund is to take you out from a tough situation. Hence, it is essential that you do not deploy it somewhere where the risk of capital erosion is huge.</div><div><br></div><div><strong>Liquidity:</strong> Always be mindful of the quick conversion of your investment to cash. Do not save funds for emergency purposes in places where they are either irredeemable before maturity or have an upper limit on withdrawals. The safest option to buy and hold your digital gold investment is on Spare8. Here, you can redeem your digital gold in the form of physical yellow metal without worrying about the lock-in period.</div><div><br></div><div>When you invest and save for your emergency fund, keep 15% of the money in liquid cash. Saving too much in the form of cash is not advised from a safety point of view. Also, as time passes, cash tends to lose its value to inflation and rise in cost of living.</div><div><br></div><div>You can keep another 15% in the bank where it takes away the risk of spending the money and the funds will enjoy an interest too.</div><div><br></div><div>The balance 70% of your money can be invested either in short-term deposits or liquid mutual funds. Both of them have minimal risk and they are highly liquid.</div><div><br></div><div>While saving every penny can be difficult for you, an emergency fund can make a huge difference in times of crises and keeps you alert against financial setbacks. Save and invest money wherever and however it is possible in the form of savings account, liquid cash, mutual funds, SIPs, or digital gold on Spare8!</div><div><br></div>

When you start enhancing your savings and rebuilding emergency funds.

3 Simple Tips to Start your Own Emergency Fund

<h1>5 Pro-investment Tips for Building a Good Portfolio</h1><div>When it comes to building a good investment portfolio, even experts do take advice before hopping on to make the profile. It is a well-known fact that creating a successful investment portfolio is no simple task. You need to check with various advisors and tax professionals and then make the correct decision.</div><div>While you make the decision, some investment tips might sound simplistic but they hold real importance when it comes to shaping up your portfolio. Let us take you through the 5 Pro-investment tips that will help your overall financial situation and help you build a <a href="https://www.investopedia.com/financial-advisor/steps-building-profitable-portfolio/" rel="noopener noreferrer" target="_blank">good investment portfolio</a>.</div><div>
        <img
          src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_01468e248629438b8ee8bf1d09178d4e_mv2_f284c1c9f9.webp/xs.jpg'
          width='100%'
          height='auto'
          class='progressive-image'
          alt='Uploaded Image'
          loading='lazy'
          style='width: 100%; max-width: 600px; display: block; margin: 0 auto;'
        />
      </div><h2>Minimizing Investment Turnover</h2><div>If you see yourself not owning a business for at least five-six years, do not even consider buying shares unless and until you wholly understand the stock behaviour and that the short-term stock market is irrational, volatile, and unstable.</div><div>Besides the fickling nature of stocks, there are tax benefits to holding onto investments. Profits gained on long-term investments are taxed at a lower rate than short-term investments, and payback from such investments is often taxed at a lower rate than distributions from recent additions to your investment portfolio.</div><h2>Minimizing Costs</h2><div>Know that every penny you spend in the form of brokerage commissions, fees, and mutual fund expenses is a penny that can’t compound for you. Although an expense ratio of less than a percentage may not seem to be much, it adds up over time. Once you find ways to reduce costs in your investment timeline, you will see yourself saving hundreds, thousands, or even crores by the time of your retirement.</div><h2>Micro Investment</h2><div>On Spare8 you can invest your spare change. With every digital translation, small or big, we round off your spending to the nearest Rs 10 and invest the spare change into a fund of your choice. This way you can invest each day and save for your future. Spare8 also creates an unintentional investing habit in you. So, it’s like you don’t have to manually invest each time and feel your funds are an added burden on your budget. Savings on Spare8 are automated and least uncertain. Also, you can purchase digital gold on Spare8 and take your investment habit to the next level.</div><div>
        <img
          src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_338a292f47104d2da53cc81cba68fac1_mv2_b98dea020b.webp/xs.jpg'
          width='100%'
          height='auto'
          class='progressive-image'
          alt='Uploaded Image'
          loading='lazy'
          style='width: 100%; max-width: 600px; display: block; margin: 0 auto;'
        />
      </div><h2>Never Overpay for an Asset</h2><div>It is a well-known fact that price overrides the returns you earn in your investment portfolio. In the short-term, stock prices fluctuate hence, even a good investment can be overpriced. This is when fundamental analysis comes in as your saviour. When you research the details of the company’s finances, you feel more confident in paying a fair price for a stock. When looked at from the other side, a low price doesn’t offset an otherwise bad investment. Stay away from buying cheap stocks with low earnings yield and expect them to do well until and unless you have reasons to believe that the stock will grow and get you a good turnover.</div><h2>Diversification</h2><div>Diversifying is the most essential factor when it comes to building your portfolio. This strategy and tip come with a combination of a buy-and-hold approach. When you diversify, you keep at bay different types of company risk. It is known that asset allocation is one of the key factors in investment return especially when you hold the stock over longer periods of time. You can grow your portfolio with less risk and volatility through the right combination of stocks, bonds, and cash. The benefit of diversification is that if one asset class turns out to be performing poorly, another stock you purchased is usually doing well.</div><div>There are many other simpler methods and ways to grow your money and build a strong and stabilised portfolio. It’s all about testing and trial to know what works the best for you. Along with the above tips, you can also invest in digital gold via the Spare8 app to keep your investment running. All you have to do is provide basic information and get going. There is no need for you to give your precious time to unnecessary lengthy KYC processes while investing on Spare8.</div><div><br></div>

When it comes to building a good investment portfolio, even experts do take advice before hopping on to make the profile. 

5 Pro-investment Tips for Building a Good Portfolio

<h1>Why is the Stock Market So Lucrative?</h1><div>The stock market is infamous for generating large amounts of income quickly. Not everyone can be Harshad Mehta or Parag Parikh but they can be like that uncle or aunty who just purchased a Mercedes because of a profitable return on their investment. In Spare8’s fashion, we’ll breakdown 3 main points as to why the stock market is a booming platform:</div><h2>1. Miracle of Compounding</h2><div>Compound Interest is the addition of interest to the principal sum invested and to the interest already paid. This topic that we all learnt in 10th grade math has larger significance in the stock market. When you invest, the money keeps amalgamating and collecting. The more you invest, the more it accumulates and multiples. It is notable that the stock market is distinct from the economy. While India is in the midst of an economic recession, the stock market is booming and providing returns to avid investors. This is because their invested money has undergone the “miracle of compounding” wherein more money is generated with time.</div><h2>2. Availability of Undervalued Companies</h2><div>The stock market is home to undervalued companies along with the moderately valued and the overvalued. When you invest in an overvalued company, it is extremely risky as you may pay more for the stock than is required and lose money. The same can be applied to buying a stock close to the market value. Undervalued stock, on the other hand, diminishes the risk of investment. Do you remember when it was Black Friday and you wanted to buy everything because it was simply a good deal? Undervalued stocks are the discounts and good deals of the stock market. You only have to find the Black Friday stocks in the market. This would increase the profitability of the investor.</div><h2>3. Highest Annualized Returns</h2><div>Annualized Return is the geometric average of the sum of money invested in a year or a period. The stock market provides the maximum annualized returns a consumer can earn from investments. As it is controlled by various factors, through severe research, a consumer is capable of earning large sums of money. Although some may criticize the stock market for being volatile, its nature of perseverance has proved to be a healthy form of investment to gain high returns.</div><div><br></div>

The stock market is infamous for generating large amounts of income quickly. 

Why is the Stock Market So Lucrative?

<h1>Top 10 Books You Must Read Before Investing in the Indian Stock Market</h1><div>Spare8 recommends 10 must-reads before you enter your savings into the stock market of India.</div><div><br></div><h2>1. <strong>One Up on the Wall Street by John Rothchild and Peter Lynch</strong></h2><div>This is the quintessential read before deciding to invest in the stock market. It helps novice investors understand complex concepts through simple language. It has been tailored to be an aid in differentiating ‘long shots’ and ‘no shots’. As the book urges its readers to look further into the company’s financials, they are taught about the basics of investment.</div><div><br></div><h2>2. <strong>Common Stocks and Uncommon Profits by Philip Fisher</strong></h2><div>The book highlights important investment theories that are applied and studied in the real world. The author, Philip Fisher is famous for being an avid and successful investor. Fisher pushes his readers to conduct their due diligence before investing in a stock. Learning from the experienced along with coined theories, proves to be an integral manner of understanding how to invest.</div><div><br></div><h2>3. <strong>The Intelligent Investor by Benjamin Graham</strong></h2><div>Although this book was published in 1949, its relevance still remains. Warren Buffet, a mentee of Graham, has deemed this book to be the best ever written. Graham curated his own learnings from Wall Street to create principles of investment. The book ensures that the newcomer is trusted with crucial investment points to be intuitive, alert and perceptive.</div><div><br></div><h2>4. <strong>Stocks to Riches by Parag Parikh</strong></h2><div>Written by an Indian author, the book encompasses the rich decades of experiences of Parikh. He recognizes the daunting risk involved in investments and therefore, simplifies the process through his book. <em>Stocks to Riches</em> involves a breakdown of comprehending investments, science of behavioural finance, mental accounting and mental heuristics. This is a must-read for Indians to relate and learn from.</div><div><br></div><h2>5. <strong>How to Avoid Loss and Earn Consistency in the Stock Market by Prasenjit Paul</strong></h2><div>The book believes that the secret to correct investments is strong businesses. Paul utilizes easy language following the ‘dummies’ style of writing to allow anybody, irrespective of their age or education to understand investments. It focuses on the dos and don’ts of investing in the stock market with the application of Paul’s strategies. Lastly, the Indian stock market scenario is explained clearly and well.</div><div><br></div><h2>6. <strong>Investonomy: The Stock Market Guide that Makes You Rich by Pranjal Kamra</strong></h2><div><em>Investonomy</em> introduces investment theories and aims to debunk myths and misconceptions about the stock market. It appeals to apprentice investors who are fueled by their inspiration of billionaire investors. The book could be looked at as a guide to earn profits in the stock market by Kamra’s reiteration of faith in the stock market. Kamra uses graphs and figures for serious and potential investors to gain a grasp on the concepts.</div><div><br></div><h2>7. <strong>Bulls, Bears and Other Beasts by Santosh Nair</strong></h2><div>The book takes its readers through the adventurous Dalal Street, offering a brief historical account of the Indian stock market. The examples ranging from tax evasions to tech boosts, allow a wholesome view of the market. Furthermore, readers are educated on government policies that must be harnessed. Nair is now the editor of the popular investment platform, Moneycontrol, adding to his credentials of the stock market. This would definitely be a must-read for Indian investors.</div><div><br></div><h2>8. <strong>The Warren Buffett Way by Robert G. Hagstrom</strong></h2><div>Warren Buffett can be termed as the God of investment. Whether you’re Indian or any other nationality, you would immediately look up to Buffett when it comes to the stock market and investments. Hagstrom capitalizes on this idealization and provides effective solutions to investing. To become a great investor, we must learn from the best. Hence, Hagstrom invites us to learn from the best, Warren Buffett.</div><div><br></div><h2>9. <strong>The Little Book That Still Beats the Market by Joel Greenblatt</strong></h2><div>This book moves beyond setting principles of investment and generates a “magic formula”. Through this formula, investments can be made at good companies with bargain prices automatically. The uniqueness of the book is the use of 6th grade mathematics, humour and simple language to understand a revolution in the stock market. A newbie in the stock market must become privy to the perennial formula.</div><div><br></div><h2>10. <strong>Investing in India by Rahul Saraogi</strong></h2><div>This book offers an intrinsic understanding of the investment climate in India. Saraogi expands on the complex nature of India’s rapid economic growth and democracy complemented by passionate press. Moreover, he offers insights amidst the chaos of the stock market. This book is fabricated within the Indian context and explores the political, social and economic aspects of investment. By creating an effective framework of investing in India, it can be classified as a must-read.</div><div><br></div>

Spare8 recommends 10 must-reads before you enter your savings into the stock market of India. 

Best ways to reduce taxes on your ITR

<h1>5 Interesting Stats Related to Digital Gold Post-pandemic</h1><p>Covid has literally shifted the limelight to virtual and online businesses. Be it buying clothes, learning, travelling, as well investing or <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">digital gold buying</a>, people are opting for everything online and going digital more than ever! There is no doubt that COVID-19 has brought about a major digital transformation and technology.</p><p>People who used to think offline grocery shopping is everything had to transform to online shopping during the pandemic. Similarly, those who were investing in physical gold started buying and investing in digital gold post-pandemic because online or virtual options not only made things easier for them but also proved the internet world’s efficiency. Undoubtedly, you can now shift from offline to buy digital gold online.</p><p><br></p><p>The boom in the digital revolution has literally expanded the gold market and introduced a new form of investment called digital gold. Virtual or digital gold concept was nowhere in India until covid hit the country. Being a new concept as it is, it is taking time for the people, especially the older generation to adopt investing in digital gold. But as gold-obsessed as it could get, Indians are buying digital gold more than ever. Let us show you the <a target="_blank" rel="noopener noreferrer" href="https://www.livemint.com/market/commodities/digital-gold-the-unknown-facts-that-all-investors-must-be-aware-of-11633833818043.html">stats related to digital gold</a> post-covid:</p><p><br></p><h2>Rise in Gold ETFs</h2><p>Post-covid the gold market saw rise in gold exchange-traded funds (ETFs) folios in the last two years highlights the rising popularity of digital gold.</p><p><br></p><h2>Boost in Sovereign Gold Bonds</h2><p>Sovereign bonds were launched in 2015. They came eight years after the launch of gold exchange-traded funds but still managed to capture more investors. Money inflow in Sovereign Gold Bonds has gained popularity since the last two years; post-pandemic which proves that digital gold has attained prominence. People who wished to invest in gold but didn’t want to buy physical gold owing to certain issues, investing in gold bonds seemed to be the best way to get tax advantage.</p><img src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_b7d6eec19c6e4a09b09eac7b080b92e3_mv2_1_534b497b6c.webp/xs.jpg' class='progressive-image' style='width:100%;max-width:600px;display:block;margin:0 auto;' loading='lazy'/><h2>Guaranteed Purity</h2><p>With the rise in purchase in digital gold post pandemic there is one reason that is making much of a difference and that is, online investment in gold lets you buy gold with as little money as you want to. Spare8 doesn’t have any defined minimum or maximum limitations when it comes to your gold investment. You can literally start your investment with as low as one rupee along with getting 100% assurance on the purity, safety, and security of your digital gold online.</p><p><br></p><h2>Offering Flexibility</h2><p>People who used to buy physical gold often, usually brought it for the consumption purpose, like they buy it and use it. Before things went digital the mass had no idea about digital gold investment. Virtual gold combined the convenience and speed of the internet with the safety and security of physical gold purchases.</p><p>When it comes to investing, digital gold buying is the safest and low on cost. If you want to store and save gold and get complete flexibility over it in future then digital gold is here to make its way. Spare8 provides its investors the option to start investing without any KYC hassles and no lock-in period. People can start investing today and take back the investment even tomorrow.</p><img src='https://spare8-strapi-assets.s3.ap-south-1.amazonaws.com/b12b05_b98ce521c89442b7a071feb8e3c4e0aa_mv2_04e6aaac72.webp/xs.jpg' class='progressive-image' style='width:100%;max-width:600px;display:block;margin:0 auto;' loading='lazy'/><h2>Convenience</h2><p>With post-pandemic effects, one of the best and easiest ways to invest in digital gold is the convenience it offers to its investors. On Spare8 you can buy and invest in digital gold from any mobile wallets, UPI applications, as well as other options. Also, investors can sell their digital gold for cash through their bank account at the present market rate.</p><p>With the Covid ridden India, gold shone brighter than ever, all thanks to the online market. The rise in popularity of <a target="_blank" rel="noopener noreferrer" href="https://www.spare8.com/buy-digital-gold">digital gold investment</a> post-pandemic made investors come out of their ‘skeptic’ shells and put their trust in online gold like never before. When investing on Spare8, people receive 100% pure gold with full assurity and safety. Spare8 boasts of partnering with Augumont and Paytm to facilitate digital gold buying and storing them in vaults secured by regulated independent trustees.</p><p><br></p>

Covid has literally shifted the limelight to virtual and online businesses.

Finance Blogs India