Loans are financially beneficial when you have to meet fundamental responsibilities such as organising a wedding, financing children’s education, buying a home or for medical emergencies. Personal loans can be availed in a jiffy. 1) Clarity regarding loan purpose: You may want to differentiate whether
Fixed Deposits (FDs) have been synonymous with savings in India. For years, generations of Indians have neither known nor considered any alternative form of investments because they believe FDs equate to safety. If you are looking to invest in FDs, here are some things to keep in mind.
While working hard to earn money is one aspect of achieving these dreams, the other is to save that money. Did you know there are different types of FDs available in the market? • Standard FDs – As the name suggests, this is the most basic type of FD.
Growing your gardenrequires a lot of care and attention. It wouldhelp if you gave your plants the right nourishment using the rightresources. It does not happen overnight and requires patience for it to bloom.
Recurring Deposits (RD) are one of the most popular investment tools in India, preferred by salaried individuals who cannot put away lump sums into investment schemes but can invest in small amounts regularly. Let us delve into the topic of RDs and how they are an ideal savings vehicle. The rate of
Although she had been enjoying the benefits of a credit card for a long time, she was unaware it could help her avail a loan too. A credit card loan is an easy and quick way of fulfilling your immediate cash needs. A credit card loan works best to finance short-term needs.
Investing your savings is essential for a secured future. As a beginner in the world of investment, you would like to invest in an instrument that can give you a steady rate of return along with keeping your money away from risk. Fixed Deposits (FDs) ideally fit in both expectations and therefore are
A Fixed Deposit (FD) is a secure investment that also has the capability to generate high returns. Such an FD is called a high-interest fixed deposit. Investing in such an FD could help your money grow at a quicker rate than a savings account and yet give you the same security feature.
Having a savings plan is always a smart decision. According to Deloitte India and the Retailers Association of India, millennials currently comprise the largest demographic group in India. Millennials are investing in savings plans as 57% of them choose fixed deposits as a preferred instrument, according
Thereare two types of investors, one with a risk appetite and the other who alwaysplays it safe. If you’re the first kind, you’re better off looking for mutualfunds and equity. However, if you’re not interested in experimenting but ratherprefer security and predictability with your investment, you could
Fixed deposit (FD) is a reliable way of building wealth in the long run. Considered safe, this is one of the most popular investments among Indians. It won’t be surprising if your friends and relatives have advised you to open an FD at some point of time.
As surprising as that might be at first, it is these small victories that’ll lead you to that bigger goal—saving money! Having a savings plan will help you reach your financial goals in the long run. Stashing cash under a mattress might not be a good idea but getting the right bank account is. The
When a borrower does not repays the loan money back, the lender/bank use their own methods to recover the amount. In such unfortunate circumstances, the borrower who now is termed as loan defaulter neglects his rights and is often pushed into more troubles. Like there are rules to keep an accused in
Interest rates on fixed deposits may have come down, but they still remain the most favoured tax saving tools. This is because of the zero risk they have unlike Equity Linked Savings Scheme (ELSS), which is a diversified equity mutual fund. They are also preferred since they do not have a long lock-in
Fret not, there’s help at hand if you own a micro, small and medium enterprise (MSME). A secured loan is when you put a collateral while applying for a loan, while the latter has no collateral attached. As it is an unsecured loan, the interest rate is higher compared to a secured loan.
Lower interest rates translate into affordable EMIs. Most lenders offer a concessional interest rate of 0.05% for women applicants. This is an advantage as you can save a significant amount of money with a lower interest rate.
Your business may have the potential to grow in future, but lenders can still refuse to give you a business loan. If your personal or business credit score is low, lenders may find it hard to trust you with a business loan. This is especially because you are applying for an unsecured business loan.
Over the past few decades, the cost of education has sky rocketed. In fact, the cost of education at a certain reputed institution is expensive such that parents’ savings fall short. The answer to this question comes in the form of education loan from various lending institutions.
When shopping for a loan, you usually have two choices. You can head to a bank. Or you can approach a non-banking financial company (NBFC). Both entities lend money for various needs. But there are key differences between their loans. Should you take a loan from a bank or an NBFC? Which one would be
Akarsh didn’t know that he could take a loan against his investments in shares, bonds, and debentures. Read on to find out more about loans against shares, bonds, and debentures. You can borrow from lenders like banks and NBFCs.
There’s a lot you can do with a great product in hand but very less with no money in your satchel. Business needs money to survive and excel. Your own savings and revenue may not suffice for a lifetime. Sooner or later, you will need credit. Hence, maintaining a good CIBIL score for your business is