Joint accounts are shared by two or more individuals and offer numerous benefits. They can be opened with spouses, children, friends, or business partners. According to the Reserve Bank of India guidelines, the number of members in a joint account is not limited, but some banks restrict it to a maximum of four. Joint accounts … Read more
Owning a home is a significant milestone for many in India, but the journey to homeownership can be challenging. There are numerous hurdles to finding the perfect property and saving enough money. Fortunately, several banks and financial institutions now offer home loans, making it easier for individuals to achieve their dream of owning a home. … Read more
We cannot predict when and in what form our financial needs will arise. Sometimes, we might need more funds when we need them the most. In such situations, many people opt for personal loans. However, it’s crucial for beginners to carefully consider a few factors before taking out a personal loan. Let’s explore these considerations. … Read more
The Reserve Bank of India (RBI) releases a list of bank holidays every month, and consumers should plan their banking activities in consideration of these holidays to avoid wasting time and potential financial loss. List of Bank Holidays in December 2024: Name of the holidays Bank Holidays website https://rbi.org.in/ Check Holiday Dates Bank Holidays Bank … Read more
During this period, marked by job instability, unexpected medical expenses, or other financial uncertainties, it is difficult to predict when and how the need for money will arise. In such situations, many individuals consider taking out a personal loan. Personal loans are readily available during this time, but it’s essential to determine if you are … Read more
Parents often open bank fixed deposit accounts to secure their children’s financial futures. Some prefer recurring deposit schemes to save money in installments. These parents, driven by a strong sense of responsibility, plan so their children can save a substantial amount for higher education, marriage, and other future needs while they are still young. Understanding … Read more
Marriage is a significant event in everyone’s life, and many individuals wish to celebrate it grandly with their loved ones. Some parents may go beyond their means to ensure a lavish wedding for their children. However, not everyone may have sufficient funds to host an elaborate wedding, leading some to opt for a low-budget celebration … Read more
Life can be unpredictable, and sometimes unexpected events can impact our finances. One such situation is when a borrower dies with an outstanding loan. This can be stressful for families, so let’s break down what happens to different types of loans in such cases. Types of Loan There are two main categories of loans: secured … Read more
If you follow these tips, your check will not bounce. Otherwise, you may face jail time and fines. It’s essential to understand why checks bounce, the common reasons, preventive measures, and the steps to take if a check bounces. Let’s explore the precautions needed to avoid legal trouble. Online transactions are becoming increasingly popular today, … Read more
Bank lockers are an excellent way to secure your valuables and important documents. But what should you do if you lose the key to your locker? How can you contact the bank and retrieve your items, and what costs might be involved? Let’s explore the details. When you rent a bank locker, you receive a … Read more