Monthly Archives: May 2024
We all have dreams and long term goals in our lives. They could be, to own a car, travel overseas for a vacation, save funds to support our children’s higher education and countless others. A savings account may aid in fulfilling these goals, but this may not be the best way to increase your savings….
In an unpredictable world, financial preparedness is not just a smart choice—it’s a necessity. Having a readily accessible emergency fund can make all the difference when unexpected expenses arise, whether due to medical emergencies, job loss, or urgent repairs. A well-maintained savings account is the cornerstone of this preparedness, providing a secure, liquid means of…
Balancing efficient financial management with family priorities can be challenging. Yet, thanks to innovative banking solutions like family grouping in online savings accounts, managing finances has become more streamlined and collaborative. In an era marked by digital innovation and interconnectedness, family grouping in online savings accounts is transforming the way families manage their finances and…
In today’s fast-paced world, convenience and efficiency are paramount. The advent of digital banking has revolutionized the way we manage our finances, making traditional banking methods seem almost archaic. Gone are the days of long queues and endless paperwork; now, everything can be done from the comfort of your home. From opening an account to…
In today’s unpredictable world, saving money has become more important than ever. A savings account is a fundamental tool for building financial security. However, modern savings accounts offer much more than just a place to store your money. They come with a variety of benefits such as high returns, online banking, and even bank lockers….
Retirement may seem distant, especially when you’re juggling various financial responsibilities, but the decisions you make today can significantly impact your financial security in the future. Preparing for retirement early can ensure you enjoy a comfortable and stress-free life when you finally decide to hang up your work boots. Here’s a comprehensive guide to help…
Saving money is more than just a financial practice; it’s a mindset. Understanding the psychology behind saving can help you develop habits that not only boost your savings but also enhance your financial security. This guide will explore the psychological aspects of saving and provide practical tips to help you save more effectively. The Psychology…
Supporting the education of grandchildren is a rewarding endeavor for many senior citizens. Not only does it provide tangible benefits for the younger generation, but it also offers a sense of purpose and fulfillment for the elders. Two practical and secure financial instruments for this purpose are savings accounts and fixed deposits. Here’s how seniors…
Like how you’re charged with Tax Deducted at Source (TDS) on your monthly income, you’re also taxed on investment instruments like Fixed Deposits. Your TDS on FD interest may not qualify FDs as a tax-saving tool like a public provident fund (PPF). In case you don’t know, TDS is the amount the sender deducts before…
Fixed Deposits (FDs) have long been considered a reliable investment avenue for individuals seeking stability and assured returns on their savings. Not only do FDs offer a secure way to grow your money, but they also come with the added advantage of tax-saving benefits under Section 80C of the Indian Income Tax Act. What makes…
Fixed Deposits (FDs) are one of the most popular choices for consumers looking to earn assured high returns on their savings. FDs give you assured returns with almost no risk. But one important decision to make when investing in FDs is choosing between cumulative and non-cumulative options. So, what exactly are Cumulative and Non-Cumulative FDs?…
Fixed Deposits (FDs) are investments where people can put a large part of their extra savings and see their wealth grow steadily. It is a popular investment option, but many are unaware that this unique investment option offers yet another feature called the top-up fixed deposit. If you are looking for ways to further enhance…
In today’s fast-paced digital world, the convenience of instant fund transfers has become a necessity for individuals and businesses. Immediate Payment Service (IMPS) has emerged as a reliable and efficient option among the various available methods. IMPS offers a seamless way to transfer funds instantly, enabling users to send and receive money with ease. In…
Banks and financial institutions keep innovating their products as per the changing needs of their customers. The concept of sweep-in fixed deposit feature is also a result of innovation, considering the growing need for a savings product that can offer higher returns with easy access to money. This article aims to provide a comprehensive overview…
The minimum balance in a savings account refers to the lowest amount of money that account holders must keep in their accounts. Banks establish these minimum balance requirements to ensure account stability and offer specific benefits to customers. The minimum balance varies between banks and types of savings accounts, so account holders must be aware…
As disposable income increases, individuals often face the dilemma of what to do with excess funds. Return on investment is an essential factor to consider while making an investment choice. However, liquidity shouldn’t be ignored. While a savings account offers liquidity, liquid funds have emerged as a popular investment choice. What are Liquid Funds? Liquid…
In the rapidly evolving world of digital payments, the integration of Unified Payments Interface (UPI) with credit cards marks a significant leap forward. This development not only streamlines transactions but also offers numerous benefits for savvy users. Among the leading options available, the IndusInd Bank Platinum RuPay Credit Card stands out with its impressive features,…
Since the world has gone online, applying for a credit card has never been more convenient. With the advent of online applications and instant approval processes, getting approved for a credit card can be quick and hassle-free. In this blog, we will explore some tips for streamlining your credit card application process, with a spotlight…
Are you looking to enjoy additional perks and rewards every time you spend, but don’t want to apply for a new credit card? Add-on credit cards might just be the solution you’ve been seeking. In this blog, we’ll delve into the features and benefits of add-on credit cards, shedding light on how they can streamline…
Destination weddings have a certain allure – the romance of exotic locales, the intimacy of celebrating with loved ones in a picturesque setting, and the opportunity to create unforgettable memories. However, the prospect of funding such an extravagant affair can be daunting. Enter the instant personal loan, a financial tool that can make your dream…