Frequently Asked Questions

UnfilteredMoney is an Indian personal-finance comparison website that publishes reviews of credit cards, term life, health and motor insurance, and investments such as mutual funds, stocks and fixed-income products. UnfilteredMoney does not sell financial products itself — it links out to the provider’s own application page — and also runs free SIP, income tax and insurance premium calculators.

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A lifetime free credit card charges no joining fee and no annual fee for as long as the card stays active, so the only costs are interest on unpaid balances and charges such as cash withdrawal or late payment. Many Indian banks also waive the annual fee on regular cards when yearly spending crosses a set limit.

Paying only the minimum amount due keeps the credit card account in good standing and avoids a late-payment fee, but interest still accrues on the entire outstanding balance — typically 3% to 4% per month on Indian credit cards, which works out to roughly 36% to 48% a year. New purchases also lose the interest-free period until the balance is cleared in full.

Term life insurance pays a death benefit to the nominee if the policyholder dies during the policy term, and pays nothing if the policyholder survives it — which is why its premium is the lowest per rupee of cover. Endowment and ULIP policies bundle investment with life cover, so they cost far more for the same sum assured.

Claim settlement ratio is the percentage of claims an insurer settled out of all the claims it received in a financial year, published annually by IRDAI. A high ratio suggests claims are usually honoured, but it counts the number of claims rather than the rupees paid, so it is best read alongside the insurer’s claim turnaround time and complaint volume.

Yes. Under the Motor Vehicles Act, 1988, every vehicle driven in a public place in India must carry at least third-party liability insurance, which covers injury, death or property damage caused to someone else, and driving without it is a punishable offence. Own-damage cover for your own vehicle is optional and sold as part of a comprehensive policy.

A systematic investment plan, or SIP, invests a fixed amount in a mutual fund scheme at a regular interval — usually monthly — through an auto-debit from a bank account. Each instalment buys units at that day’s NAV, so more units are bought when prices fall and fewer when they rise, which averages the purchase cost over time.

India’s income tax system offers two regimes. The old regime has higher slab rates but allows deductions and exemptions such as Section 80C, HRA and home loan interest. The new regime has lower slab rates with most of those deductions removed, and it is the default unless the taxpayer opts out. Which one costs less depends on how many deductions are actually claimed.