Tuesday, September 5, 2017

Where I can Get Updated List of IFSC and MICR Code?

In the present times, monetary or fund transfers are not restricted to a country or a bank making it mandatory for financial organisations to carry out a verification procedure before processing funds. To make the verification procedure quicker, financial organisations and banks make use of different codes that simplify and automate their processes. MICR code and IFSC code have a significant role to play in this phraseology. Therefore, it is essential to have a clear understanding of these codes.

Find here : list of IFSC Code

Indian Financial System Code


The IFSC code or Indian Financial System code identifies all NEFT and RTGS participating bank branches exclusively. This code is used by electronic payment mechanism applications like NEFT or National Electronic Fund Transfer, RTGS or Real Time Gross Settlement and CFMS or Centralised Funds Management Systems. Individuals who want to transfer funds from one bank to another need to know this code so that the beneficiaries get the funds directly into their bank accounts. It is worth noting that with the use of this code in online transactions, there is no physical dispatch of cheques between the banks and the clearing house involved. This exclusive code mechanism is specifically used for instant money transfers online.

How is the Indian Financial System Code Formed?

The Indian Financial System code is an 11 digit code that consists of alphanumeric characters disclosing the bank name and the exact branch location of the bank.  The fifth character of this code is a zero used for accommodating expansions of bank branches. This code is printed on cheque books that are issued to bank account holders. You can get the IFS code of your bank branch by having a look at your cheque slip.


MICR stands for Magnetic Ink Character Recognition. As is suggested by the name, the MICR code is a character recognition technology that helps in faster cheque processing. The branches of all banks are given exclusive MICR codes as this helps The Reserve Bank of India in identifying the bank branches and in speeding up the cheque clearing procedure. This code is printed on the bottom of a cheque leave of a bank chequebook.

How is the Code Formed?

The MICR code is a nine digit numeric code with each three digits signifying important information regarding the bank and the transaction. First three digits of MICR indicate the city code or the city that serves as the location of the bank. Most of the times, the first three digits are the first three numbers of the PIN code of an area. The next three digits signify the code of the bank or the bank identity, and the last three digits indicate the branch code of the bank or the i
dentity of the bank branch location. So, how and where can you find the updated list of MICR and IFSC codes?

Finding the Updated List of MICR and IFSC Codes

It is important for net banking and online banking customers to be knowledgeable about the IFSC and MICR codes of the beneficiaries. The best way of getting hold of the updated list of the MICR and IFSC codes is carrying out an online search. If you go online and search for the updated list of MICR and IFSC codes, you will probably get some sites displaying valuable and useful information about this subject. The only thing that you need to do is type the name of the bank and the branch. There are boxes available on the sites displaying IFSC and MICR codes. You simply need to put the name of the bank in a box and select the bank branch accordingly. You will immediately have a drop down menu that will help you in finding the right MICR and IFSC code for your particular bank branch. However, the best thing that you can do is check the database of The Reserve Bank of India for getting the IFSC and MICR codes of different banks and their respective branches.

It is also imperative to remember that the exclusive identification characters of the banks keep on changing from time to time as per rules brought forward by The Reserve Bank of India. Therefore, it is essential for individuals to contact their respective bank branches for confirming identification numbers received from third parties.

Friday, August 25, 2017

How to Calculate Annual Interest Rate on a Loan

A loan refers to quick disbursal of money that one can take from banks to meet sudden expenses that may arise at any time. But before applying for a loan, it is important to calculate interest on loan using EMI calculator or spreadsheets.

calculate emi loan using free calculator

Banks follow different sets of laws when it comes to charging loan interests on different products. For example, credit cards charge daily interest while other products may require interest to be calculated monthly or even annually. Getting this detail is important because you need to use the right number for calculation. Generally, people prefer to do this little math on their own but some people rely on technology for quick calculations and thus use:

1.  Spreadsheets

Spreadsheets like Microsoft Excel and others are powerful tools that help you understand how the loan works by building a rough graph of your loan.

How to calculate annual interest rate in excel:

a)  Start with a blank worksheet

b)  Enter the Principal amount, Monthly payments, loan term in months, and Annual rate in cells B2 through B5, in order.

c)  Format cells C2 and C3 as currency with two decimal places.

d)  Format cell C5 as a percentage with two decimal places.

e)  Enter the following formula in cell C5: =12*RATE (C4, C3, and C2) to get the results.

Calculations here are automated so you can easily get important details about your loan. You can even use pre-built amortization templates to calculate the annual loan interest rate.

2. EMI Calculator

An EMI calculator does the same work. It will calculate loan interest rate per month, shows how much interest is in each payment and how much you’ll have to pay every month. For deeper analysis, you can copy and paste the output into a spreadsheet.

Apart from these two methods, the annual interest rate can be calculated manually as well. For a home loan, student loan and auto loan, the best way to do is to build an amortization table. It clearly shows every payment, loan interest, principal amount and your remaining loan balance at a given time. To calculate, you’ll have to provide the following basic information:

a.  The interest rate

b.  The loan period

c.  The principal amount you are paying interest on

d.  The monthly payment

For a quick estimate, a simple interest formula (Interest = Principle x rate x time) can help you find out the annual interest rate on a loan. For example, if you borrow home loan of 63 lakhs at 6% interest rate for a time period of say 30 years, then your monthly payment would be approximately Rs. 38,000/-.

Ideally, customers pay different amounts of interest every month – the amount usually reducing with each passing month. Reason being, your loan balance gets paid gradually and leads to lesser interest every month.

Listed below are some helpful steps to build an amortization table all by yourself:

1.  Start with calculating your monthly loan payment

2.  Convert the annual rate to the monthly rate by dividing it by 12

3.  Find out the monthly interest rate by multiplying the monthly rate by the loan balance at the start of the month.

4.  Deduct the interest cost by the monthly payment

5.  Reduce your loan balance by the principal amount

6.  Calculate your remaining loan balance

7.  Copy the outstanding loan balance to the next line

8.  Repeat steps 2 through 8 until the loan is paid off

The bottom line: Interest rate increases the price of the commodity (Car, property, equipment of your home or business, etc.) you buy on loan. Therefore it is wise to keep a track of it and make regular payments to decrease the interest amount with time. In some cases, these interest costs are tax deductible – which is one more reason not to ignore them. To understand your finances, you should calculate interest cost either before taking a loan or soon after borrowing. You can compare the interest rate of different loan schemes using Paisabazaar.com. It is an ideal platform wherein you can compare top loans from different banks, get best deals on credit cards and choose between longer and shorter loan terms by using its EMI calculator.

Monday, August 21, 2017

Aadhaar mandatory for social schemes 2017

From being just a voluntary document that was meant to serve the proof of identity and address anywhere in India, Aadhaar, a 12 digit unique identification number (UAN) is now fast becoming government’s base for public welfare & citizen services.
Aadhaar mandatory for social schemes

It is used as the universal identity card that can verify your age, address, identity, etc when applying for any government service. Listed below are some government schemes 2017 wherein the use of Aadhaar card is mandatory:-

1. Pension: Aadhaar card has proved to be a blessing for senior citizens as it helps them get their pension money on time. Earlier, the documentation process was time consuming, which created a lot of inconvenience and delay for the senior citizens in getting their pension money. Thanks to Aadhaar card to make their life sorted. Now, instead of going through a long documentation process each month, the pensioners need to only register their Aadhaar number to ensure timely pay-outs each month.

2. Income tax: When it comes to verifying your income tax file returns, Aadhaar card helps people cut down documentation needs. Using Aadhaar card to verify ITR is both simple and convenient. All you need to do is:

A. Login to the e-filing website using your PAN number, and link your Aadhaar number to it.
B. Choose an option to generate an Aadhaar OTP, which will be sent to your registered mobile number.
C. You can use this code to verify your ITR. You can also use Aadhaar to verify your IT return uploaded on an earlier date.

3. Aadhaar card mandatory for Provident Fund disbursement: Aadhaar has also eased the process of PF disbursement. Earlier, the process to get the PF money was complicated and time consuming. However, now the process has become quicker and simpler because of Aadhaar card. Once the pensioner links their Aadhaar with their pension account, the Aadhaar card will ensure that the provident fund is directly disbursed to their account.

4. LPG & other subsidies: With Aadhaar card, you can now get your LPG subsidy in your bank account. For this, you simply have to provide your Aadhaar number. In fact, not just LPG but all other government subsidies will reach you directly through Aadhaar card. With Aadhaar, now, you don’t need to register for every government benefit. 

5. Digital life certificates: The Jeevan Praman for pensioners or the digital life certificate, as it is widely known, is an initiative took by Narendra Modi, the Prime Minister of India. This initiative eliminates the need of pensioners to be physically present in order to receive a pension. Digital life certificates allow elderly members to get their pension money without leaving home as their details can be easily accessed by the bank through their Aadhaar number.

6. Aadhaar mandatory for Passport acquisition: The acquisition of passport has always been a daunting task that takes a lot of time. But with the help of Aadhaar card, the process is now simpler. Anyone willing to get a passport can submit an application online for the same by simply attaching their Aadhaar card as the only resident and ID proof along with the application. Within three days, they will receive an appointment and within seven days, the processing and dispatching of the passport will be completed. Police verification checks can then be scheduled on the later date. All in all, with Aadhaar card you can get your passport within 10 days. 

7. Aadhaar mandatory for bank accounts: As announced by the Supreme Court, any person planning to open a bank account has to provide their Aadhaar number along with their PAN (Income tax permanent account number) as a valid address and photo ID proof. In addition, all existing account holders have been asked to submit Aadhaar to their respective banks by December 31, 2017, to continue the services. If they fail to do so, their accounts will become invalid.

These are quite a few social schemes where Aadhaar is mandatory. So if your Aadhaar card application is still pending, you should soon get it done to avail the unlimited benefits that this simple card can provide.

Wednesday, August 16, 2017

Which Is The Best SBI Credit Card?

The State Bank of India offers a variety of credit cards to match your lifestyle needs. Each credit card offered by this bank is packed with features such as shopping, travel, and dining privileges apart from reward points on the department, glossary stores, etc. If you are planning to get SBI Credit Card for easy cash flow, here is a drop down list of some best SBI credit cards that you can choose from:

1. SBI Card Elite: - Powered by Master Card, the SBI Elite Card offers a number of  benefits to its customers including welcome e-voucher worth Rs 5000, complimentary movie tickets worth Rs. 6000 every year, complimentary membership to the airport lounge (both domestic & International), 5X Reward Points on dining, departmental stores, and grocery spends, etc. The joining fee on SBI Elite Card is Rs. 4999 + GST. In return, you will get an equivalent amount of welcome bonus from your choice of brand – Yatra, Bata/Hush Puppies, Marks & Spencer’s, Shoppers Stop, Westside, etc.

2. SBI Card Prime: - The SBI Prime credit card is packed with plenty of MasterCard/Visa privileges including 50% off on golf games at selected golf course across India and exclusive benefits across 900 luxury hotels worldwide. In addition to this, it features birthday benefits, lounge access, Club Vistara membership, Trident privilege membership, etc.  The annual fee (one time) and renewal fee (per annum) on this card is Rs. 2999/-. The bank also gives a welcome bonus of Rs. 3000 to the customers receiving this card.

3. Simply Click SBI Credit Card: - With its worldwide acceptance, Simply Click from SBI credit card is yet another best credit card you can sign up for. It offers Rs 100 cashback on first movie ticket booked on BookMyShow mobile app for the first time users. With Simply Click SBI Credit card, you can empower your family with add-on cards for your spouse, children (above 18 years of age) and elderly parents, withdraw cash from over 1 million Visa and MasterCard ATMs across India. Simply Click SBI Credit Card further enables you to pay the monthly utility bills using the easy bill pay facility. In addition, balance transfer on EMI and flexi pay is other lucrative features of Simply Click which can make your life simpler and EMI payments easier.

4. Air India SBI Platinum Card:- With an annual and renewal fee of Rs 1499 and a welcome gift of 5000 reward points, Air India SBI Platinum Card offers features like complimentary visa lounge access at major domestic airports, lost card liability cover of Rs. 1 lakh. On top of it, this SBI Credit Card comes with a global acceptance and can be used to withdraw cash from over 1 million Visa ATMs worldwide. The banks also give its customers the privilege to get add on card for parents, spouse and children (above 18 years of age). Flexipay, balance transfer on EMI, easy money facility and online railway ticket booking plus getting it delivered at your doorstep are other benefits of having an Air India SBI Platinum Credit Card.

5. Simply Save SBI Credit Card: Customers planning for a big adventure outside India can sign up for SBI Simply Save credit card. It enables you to access money anytime, anywhere, provide flexible EMI options for big purchases along with features like instant SMS, emails, a mini statement to help you keep a track on your every transaction.  Simple Save Credit Card from SBI further enables you to use your accrued points to easily pay back the due amount pending on your card. The annual fee of Simple Save Credit Card is Rs. 499.

To know more about these SBI credit cards, you can visit the official website of SBI or Paisabazaar wherein you can compare and get the best SBI Credit Card as per your needs and requirements.

Tuesday, August 8, 2017

Tips for Growing Strawberry in Hanging Strawberry Planter

If you want to grow strawberries but do not have enough space, you can grow them by hanging strawberry planter. It also looks beautiful. You can move the planter easily without any hamper of your strawberry plants during the hot or cold weather to keep your plant well. It is a simple way to grow some strawberries within a small space. You should hang the planter in a safe place where your plants can get enough water, sunlight, fertilizer and enough care.

Growing Strawberry in Hanging

Tips for hanging strawberry planter

There are some ways to grow strawberry plants. In the case of small space, you can grow them in the container. Before planting strawberry, you should consider some things and follow some tips.


Strawberry plants need a lot of sunlight. The plant will give you the sweet and large strawberry if it gets sunlight for 8-12 hours. The pots can make the soil much warmer. So, create the environment which is suitable and tolerable for the plants.


You will use any suitable pots as the hanging strawberry planter. You can buy the plant grow bags or flower tower or pots from the garden stores.


The planter can get heavy after filling it with soil. Choose the soil that can hold water, have good air circulation. You can also add some fertilizer and then mix it with the soil properly. The soil must be acidic.

Planting time

You should plant your strawberry plants during the early spring with a little cold of winter. Some plants of strawberry can plant throughout the years.


You will find two types of strawberry plants named June-bearing and Ever-bearing. The ever-bearing will grow through the summer season but the June-bearing will grow in the early summer. The June-bearing plants will give you more strawberries.

At first, fill the pot with soil. Then water it slowly and make sure that the water absorbed throughout the soil. Now plant the strawberry plants by tacking them into the holes. Then again water slowly.


Hanging strawberry planter is not a hard process. You can use wire or chain and tie them with the planters. Then hang the planters in the place as your wish.


During watering hanging strawberry planter, you should be careful. You can use a soda bottle with a spike attaching to it to water the plants. Slowly flow water and be patience. You can check the moisture of the soil with your finger.  Do not over-water the plant. So, if you want to grow strawberry in hanging strawberry planter, you should check the moisture level of the soil.


Strawberry plants need a lot of nitrogen. Compost fertilizer is good for the strawberry plant. But do not give fertilizer when the fruits come. You can also other vegetables and fruit materials.

vegetables and fruit materials

When your strawberries become fully red, pick the fruits. Morning is the best time of picking the strawberry.  Strawberries can bruise easily. So, carefully pick the fruits. Then place the fruits gently in the container. Do not store the damaged barriers because the damaged fruits get rotten quickly. You can store the strawberry 4 or 5 days in the refrigerator.

It is not hard to grow strawberries in the hanging strawberry planter. If you follow the guidelines and the steps carefully, you will enjoy strawberries of your own. It will give you much pleasure and increase the beauty of your yard, home or garden. The reason for having a short life, you need to replace the strawberry plants after every three years.

Author Bio

I am Jocs. I have been gardening for a long time. It is my pleasure, and I love gardening. Gardening gives us much benefits and pleasure. It makes the surrounding environment beautiful and keeps our mind refreshed. Many of us desire to have a garden, but it cannot fulfill the desire for the proper guide or instruction of gardening. So, I am eager to help them who want to make a garden with the proper guide. For this purpose, I have developed the mygardenplant.com. I hope I can help everybody in gardening.

Thursday, July 20, 2017

Investing in Pune Properties are the Wisest Move to Gain Heft Return

Pune is the second most infamous city that has been the mainstream after the state capital of Mumbai of Maharashtra. Entitled as "Cultural capital of Maharashtra", "Queen of Deccan" and "Oxford of the East", the city of Pune grasps the mass with an appealing mix of superb infrastructural foundation, business destination, extent of work opportunity and its surpassing educational hubs.The city experiences several relocates that leads toreal estate development of the cityto its summit. There are plenty of realty projects, which convey the assortments of trendiest properties in the city.

According to a latest survey, Pune has gotten the position of seventh biggest metropolitan city of India. The district has prospered as the help of IT industry and other MIDC’s. Relating to its ingenious foundation, the city has encountered progression populace from national and international migrates. Known as the most serene area for living, the city likewise harbors quiet and pristinely ambience. Well known realtors have focused in structuring chi and modish designer apartments in Pune.

The huge enhancements of industrial establishments in Pune have reclassified the scope of realty investment for many. Prospect buyers have considered the city for their ever aspired dream residences. In addition, the noticeable educational hubs of the city have laid various students to move their base for the course of their study.

In this manner, properties in Pune have turned into the primitive decisive factor for the realty investment for many. It responds greatest come back to each speculation made. The city has tempted various builders and property purchasers to enroll it amongst the realty venture sites. Various upcoming projects hurled consistently in all parts of the city. The properties near workplaces or the educational destination have gone through mass attention.

The locales in Pune that has encountered the huge advancement in the real estate developments areMagarpatta, Hadapsar, Kharadi, Wadgaonsheri, Vimannagar for the IT parks of Magarpatta, S P Infocity, EON IT park and Gigaspace. Whereas, he ranges bordering the sprawling Hinjewadi IT Park which focuses on the locales of Wakad, Baner, Bavdhan Talegaon are additionally of particular significance. Pune properties in these locales are opulent and offer soared property rates.

The places like Moshi, Talegaon, Chakan, Chikhali, Pradhikaran, Akurdi that are nearby MIDC districts of Chakan, Bhosari, Talegaon. The ever prevalent focal area of Kothrud, Karvenagar, Paud Road, F C Road, JM Road,etc are populous for the business destination of Peth region and the instructive organizations of FC College and so on in the nearness. NIBM Road, Sopan Baug, Undri for the infrastructural significance and district to the focal areas of Camp and M G Road and so on.

In this way, securing own flats in Pune has been the prime desire for many prospect purchasers. On the other hand, the property rates have been towards the top for recent years; however, that did not influence the prevalence of development of the realty manifestations in the city. In the present situation of the ever demanded realty projects, as far as possible have been extended to different suburbs with infrastructural supremacy the prime concern. The property rates in Pune are about to rise to its summit and is directly proportional to the industrial development of the city, that makes way to the humungous monetary and satisfactory return.


Decorating can be a fun activity to do to pass the time. Transforming the interiors of your condo can be an enjoyable and rewarding time for yourself. Sometimes, it can be done with your partner or with friends.

How to Decorate Your Condo

Bonifacio Global City offers an abundant amount of options for condos where you can explore and invigorate your creativity. In choosing your place, ask the management if there are policies when it comes to decorating the interiors of the condo. Ask the management for limitations in redecorating the apartment's interiors.

If there are no issues with decorating the interior of the condo or when you are aware of the boundaries of your creativity, you can start. Call your friends or start a discussion with your partner and then, begin your art escapade.

Your condo is part of your identity - a reflection of you and how you live your life. It's a distinct impression of your personality and lifestyle. So, it's an understanding that your home is an extension of your hold in this world. To make it a direct vision of yourself (and your partner, if you have one), here are the top four do-it-yourself decorating tips you can use for your condo.

1. Gather different and random ideas

condo decorating ideas living room

The Internet has opened a chasm for diverse interests and ideas for many people. Over the years, the websites are increasing, and the ideas generated in the sites are growing. Wherever you look on the Internet, you can find plenty of inspirations and design ideas that might fit your desired outcome.

Besides the Internet, you can also round up concepts from lifestyle magazines and booklets. You can even try asking some friends for their ideas. After getting all the materials that might spark an idea for your condo, you choose the best of best. At the end of the day, your chosen design (the best one, of course) reflects you and your home.

2. The radiance of the lights

Keeping the rooms illuminated by the use of natural light is a perfect way to make the room prettier. Also, the light serves as a courier of good energy to start a new day. In fact, according to Chinese Feng Shui, rays of sunshine brings good luck to your homes.

If your door has glass panels, utilize to bring the rays of light into your space. Have thin and light colored drapes on your door panel instead of the thick, basic colored ones. Opening doors for natural light and fresh air can also help you save electricity as the room will be well-lit.

Your room can also have sheer drapes as covering the windows so that natural light can dwell inside the room. Also, fasten some eccentric hanging objects (e.g. dreamcatcher) on your window to add color. As much as possible, permit the light to come through your place.

3. Be accurate with your color scheme

small condo living room decorating ideas

Sticking with a particular color scheme will help you finish your designs better. And it also makes decision making on the interior designs easier, since you have a guide on what to accomplish.

There exists a 3-color rule which will be effective for your interior design idea. In this rule, you have to choose one primary color and two complementary shades. An example for this would be choosing green as your primary color and having yellow and white as your complementary shades. The choices for these color patterns are endless, but it should complement all the other colors in the mix.

Don't opt for anything too dark, always have bright and dark-colored mixed into the design. Some crisp and refreshing choices could be aqua blue, mint green, and salmon. Always keep in mind, this is your home and design, pick the ones comfortable to you and at the same time, looks admirable.

4. Your statement piece

In your space, there should be some mark that signifies your title in the place. There should be balance with the furniture in your condo as it's what the visitors see when they enter the home. Mismatched furniture would warrant stress for people in the room.

Besides that, add some touch of something that’s significantly yours. You could put a flower vase or some antique ornament into your living space to represent you.

And that’s the four do-it-yourself tips for decorating your condo and making it truly yours. In all those things mentioned, always love the changes you’re doing with your place.
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