What are the key benefits of SBI Credit Cards?

SBI Credit Cards offer a wide range of benefits, including rewards, cashback, lounge access, discounts, and insurance coverage.

How can I apply for an SBI Credit Card?

You can apply for an SBI Credit Card online through the Paisabazaar platform, where you can compare card options and check for pre-approved offers.

What factors should I consider when choosing an SBI Credit Card?

Consider your spending habits, lifestyle, and financial goals to select a card that best suits your needs, such as travel, shopping, or rewards.

How can I manage my SBI Credit Card efficiently?

SBI Card offers a user-friendly mobile app and online banking services to help you manage your card, check statements, make payments, and access additional features.

What precautions should I take to avoid accumulating credit card debt?

Responsible credit card usage includes paying bills on time, managing credit limits wisely, and avoiding unnecessary spending to prevent debt accumulation.

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Trusted by 1L+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

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Retirement

1st Crore

Dream Home

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Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

Dream Wedding

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Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

EPF Withdrawal Rules 2024 - For Home Loan, Medical, Retirement, Marriage

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EPF Withdrawal Rules 2024 - For Home Loan, Medical, Retirement, Marriage

Jun 18, 2024

15 Mins

Employees’ Provident Fund (EPF) is a social security program administered by the Employees’ Provident Fund Organisation (EPFO) to provide a safety net to people on their retirement. It is built over a long term on the contributions made by the employee, employer, and the government.

EPFO allows beneficiaries to do premature withdrawals, albeit with certain restrictions and after following some criteria. EPF can be withdrawn at the time of retirement, when unemployed for two months, or in the event of death before the specified retirement age.

EPFO members can also access their PF funds to deal with financial difficulties resulting from the Covid-19 pandemic. EPF withdrawal rules should be adhered to, and the necessary documents should be submitted for the withdrawal process. TDS is deducted on EPF withdrawals before completing 5 years of service, but there are ways to avoid it.

EPF withdrawal can be done online or offline, and the EPFO has an online grievance portal to redress customer complaints. If you have a home loan, you can also withdraw from your EPF account to repay it. There are eligibility criteria and limits for different types of EPF withdrawals, including medical emergencies, construction/purchase of a new house, renovation of a house, repayment of a home loan, and wedding expenses.

EPF withdrawal process should be followed diligently and the necessary forms should be filled out correctly. Taxation on EPF withdrawal should also be taken into consideration. Overall, EPF withdrawal rules are designed to cater to the financial needs of employees during different stages of their lives.