The State Bank of India, synonymous with reliability, offers various deposit schemes, including the SBI Annuity Deposit Scheme. This scheme requires a lump sum deposit, after which the customer receives guaranteed monthly income and interest. Interest is paid out monthly along with the principal and is calculated quarterly on the remaining balance in the account. … Read more
Many believe that the stock market always yields profits and will never stop. Consequently, they keep increasing their investments in equities, which is a big misconception. Stock market indices fluctuate, and investors should be cautious to avoid losses and secure profits. Investments that guarantee returns typically offer lower interest rates, such as fixed bank deposits, … Read more
Many people dream of owning a home and often take out a home loan to achieve this goal. Home loans typically have a long duration, resulting in interest payments over an extended period. Interest rates vary from bank to bank, so it’s crucial to compare rates before choosing a home loan. Opting for a bank … Read more
The Public Provident Fund Account (PPF Account) rules have changed, all designed to enhance the benefits for our account holders. These changes, effective from October this year (01 October 2024), will apply to both existing and new accounts. The rules regarding multiple PPF accounts, accounts opened in the name of children, and non-resident Indian (NRI) … Read more
In today’s digital age, almost everyone uses credit cards for various purposes, such as lounge access, fuel, and shopping. However, many people consider closing unused credit cards to reduce unnecessary expenses. But is it profitable to do so? Let’s find out. Credit Utilization Ratio: The Credit Utilization Ratio (CUR) is the percentage of the credit … Read more
It is natural for parents to want their children to excel. For this reason, they invest in their education and take good care of their health. However, many may not know they can claim tax deductions on expenses for their children’s education and medical needs. This article will explore the costs and savings parents can … Read more
Have you ever needed cash immediately but couldn’t go to the bank or ATM? In India, a helpful service called the Aadhaar ATM can assist you. In today’s fast-paced digital world, convenience is key, especially when managing finances. If you rely heavily on digital payments like UPI but often find yourself in need of cash, then you’re … Read more
Many people use credit cards for various purchases and payments, often without having to pay immediately. Credit cards are widely used for their convenience in allowing spending now and paying later. They typically come with an interest-free period of 20 to 50 days, during which cardholders must pay their dues. If payments are missed, the … Read more
Investing and wealth creation take many years. Financial goals and needs vary for each individual. Despite the differences in goals, certain fundamental aspects of investing should be adhered to. Everyone must plan their financial affairs to ensure economic security. Diversifying investments through various methods is crucial in achieving different financial objectives. Additionally, investment strategies should … Read more
Today, buying a plot and constructing a house or purchasing a new house outright is not expected due to the high costs involved. As a result, many people opt for home loans from banks and financial institutions. However, the loan amount obtained in this manner must be repaid monthly in Equated Monthly Installments (EMI) along … Read more