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Some banks offer higher interest rates on Fixed Deposits (FDs) compared to Sukanya Samriddhi Yojana (SSY), making FDs more appealing for investors seeking fixed returns from mint - money

Major financial institutions like Yes Bank, ICICI Bank, and HDFC Bank are implementing changes to savings account charges, credit card rules, and fixed deposit schemes starting May 1, 2024. from mint - money

Investors can borrow funds from brokers with interest rates ranging from 9-20%, but such leveraged bets also come with higher risks from mint - money

Critical illness insurance is crucial as it provides financial support in case of serious illness. Buying a standalone policy covering a maximum number of critical illnesses is recommended. Ensure the coverage is at least equal to your life insurance amount from mint - money

Tax filing season is approaching, plan ahead to avoid last-minute hassles. Check ITR form eligibility, residential status, choose tax regime wisely, maintain proper documentation and more. from mint - money

It is vital to incorporate discussions around credit scores into regular conversations about money and finance. from mint - money

EPF subscribers anxious over delayed interest crediting; EPFO assures no loss of interest, interest for FY 2022-23 credited to 28.17 crore accounts. from mint - money

In most cases, ITR filed before 15 June will get a mismatch notice from the IT department due to incomplete data regarding TDS, statement of financial transactions, TCS, etc. from mint - money

In case the ELSS fund is sold within the specified lock-in period, any impact of tax benefit or deduction claimed at the time of investing of the fund will need to be separately evaluated. from mint - money

While nominal GDP tends to grow steadily over years or months, the stock market can occasionally surge, even by 12% in a single month. Rapid overnight growth isn't true growth but rather an instance of swelling. from mint - money

Private credit is rapidly emerging in India as an alternative investment option, offering tailored solutions and higher yields than traditional fixed-income strategies. Despite higher risk, lower default rates in India make investments in private credit viable. from mint - money

Hitachi Payment Services has launched upgradable ATMs which will enable banks to safeguard their investment and expand their services to include cash deposit facility at a later stage based on their business needs and local market conditions. from mint - money

Section 54F of Income Tax (I-T) Act allows taxpayers to claim exemption of capital gains tax by buying residential property from the proceeds of jewellery sale from mint - money

Pig butchering, a form of smishing, is on the rise in India's cyber fraud landscape. Scammers build trust through social media, offering fake job roles and investments to drain victims' finances. Here's how to avoid them from mint - money

Taylor Swift's new album Tortured Poets Department is a hit among fans. Smart investors can learn from her songs about heartbreak and resilience. Having a backup plan is crucial in the financial world, just like knowing when to move on from bad investments. from mint - money

Holding a number of mutual funds in a number of AMCs is not uncommon. It is, therefore, vital to manage all accounts with ease and comfort from mint - money

To prove your claim to be genuine, you have to submit all the genuine proofs regarding your income & health to the insurance company for them to assess risk & charge suitable premium. An insurance company cannot reject a genuine claim no matter how loss making the claim is. from mint - money

Gen Z is revolutionising investing with a focus on financial independence and innovation. Setting clear financial goals and seeking professional advice can help navigate the investment journey with confidence. from mint - money

There are numerous ways to address personal loans and decrease the overall interest you pay on them. from mint - money

The abolished inheritance tax in India exempts inherited assets from taxation. Sam Pitroda backed an inheritance tax law inspired by the US. from mint - money

Goal-based investing involves strategic planning, disciplined saving, and strategic investing for achieving financial milestones like buying a home or retiring comfortably. from mint - money

The Employees Provident Fund Organisation (EPFO) responded to a subscriber that the process of crediting interest is in pipeline, and may be shown shortly. The EPFO also said that the interest is accumulated and paid in full without any loss of interest. from mint - money

Consolidating your MF holdings gives you a centralized view and simplifies personal-finance management. from mint - money

SIP in stocks is a method of investing a fixed amount in selected stocks at regular intervals. This helps benefit from rupee-cost averaging and the power of compounding. from mint - money

Using a personal loan to consolidate credit card debt can be a strategic approach to debt management and could lead to potential savings. from mint - money

Education loans bridge the gap between available funds and required amounts, covering essential fees and expenses for various courses. Banks offer up to 100% financing based on factors like course type and loan amount. from mint - money

Applying for a personal loan with a guarantor can increase your likelihood of approval and help you secure more favourable loan terms. from mint - money

Let us suppose the joint account is managed responsibly, wherein timely payments are made. It would have a positive impact on the CIBIL scores of all account holders. from mint - money

World Earth Day 2024 emphasizes environmental conservation and sustainable living. Learn financial lessons from Earth Day: reduce expenses, invest wisely, and maximize resources for a secure financial future. from mint - money

A multi-cap index will then provide an opportunity for the investor to hold a more diversified index and also get a chance to own under-represented sectors or sub-segments that are not typically a part of the large-cap sector from mint - money

Strategic tax management is integral to financial planning, necessitating foresight into tax liabilities and optimizing payments. A significant component related to this is choosing between the ‘old’ and ‘new’ income tax regimes. from mint - money

The long-term goals could be to buy a house, children’s education, or save for retirement. These goals are non-negotiable. Do not compromise on these goals regardless of the temptation to spend or invest for a short-term goal. from mint - money

Health Insurance New Rule: With IRDAI's new rule, insurers can buy health insurance policies even at the age of 65 years. This move is aimed at enabling access for older individuals and enhancing coverage for high-risk health conditions. from mint - money

In last 6 and half years, over 6.1 crore members joined the EPFO fold. The net addition in EPFO subscriptions shows the extent of formalisation of the job market and the coverage of social security benefits to the organised/semi-organised sector workforce from mint - money

Prioritize affordable family health insurance by assessing unique healthcare needs and balancing coverage with costs. Consider preventive care, additional benefits, and flexible payment options. from mint - money

Netflix series Baby Reindeer serves as a cautionary tale about the dangers of unscrupulous financial dealings and the consequences of getting involved with moneylenders. from mint - money

ICICI Bank updates savings account service charges with a new fee structure effective from May 1, 2024, including charges for chequebook issuance, IMPS transactions, and more from mint - money

We share tips to help investors spot the difference between a fake video and a genuine one. from mint - money

If you are interested in equity intraday trading or futures and options trading, a demat account is optional since these transactions do not involve the delivery of shares. from mint - money

RuPay is proudly associated with TATA IPL 2024 as an associate partner. The campaign will playfully engage with the audience, showcasing how linking RuPay credit cards to UPI eliminates the need to carry a physical wallet. from mint - money

Landlords may ask the tenants with low credit score to pay a higher security deposit or impose stricter lease terms. They perceive a higher risk of late payments or default on rent payments from individuals with lower credit scores. from mint - money

The Lok Sabha polls are an important event when seen through the lens of investing. They impact people's financial goals – marginally, if not substantially. However, retail investors are advised not to get carried away by short-term volatility and instead focus on long-term wealth creation. from mint - money

Astute stock selection is crucial for performance, especially in value stocks with sharp drawdowns. Focusing on quality can be advantageous in India's evolving landscape. from mint - money

Funds amounting to crores of rupees are stuck in savings accounts and FDs due to a lack of awareness about available options from mint - money

Millennials prioritize personal financial goals, but should also consider younger siblings' financial security. Investing in mutual funds SIPs can yield significant growth over time, tailored to siblings' future needs. Insurance policies provide a crucial safety net for unforeseen circumstances. from mint - money

You should also review the payment history of each credit account to ensure that all payments are accurately recorded. Look out for any missed payments or late payments that you believe are incorrect. from mint - money

Financially empowered women navigate markets with finesse, empowered by education, strategic investing, networking, and technology. Breaking barriers, they redefine financial empowerment and inspire others on the path to success. from mint - money

If your CIBIL score is average, you may still qualify for a home loan, but you might face challenges in getting favourable terms. from mint - money

For all practical purposes, being married to someone does not directly impact the credit score. But if you decide to have a joint account or share your credit card with him/ her, this is likely to have a bearing on it. from mint - money

Income tax benefits for home loans include deductions under Section 80C for principal repayment up to ₹1.50 lakh and under Section 24(b) for interest paid from mint - money

In the case of inheritance, the cost of acquisition for capital gains purposes is taken the cost to the previous owner who had bought it for consideration from mint - money

Mobile apps have transformed India's digital lending ecosystem, but distinguishing between legitimate and fraudulent platforms is crucial. The RBI considers creating DIGITA to combat cyber fraud. Tips include checking RBI compliance, downloading from official stores and more. from mint - money

Making early payments on your home loan can save you money on interest and shorten the loan term. Timing is crucial, with prepayments in the initial years yielding the most significant savings. from mint - money

Your asset allocation doesn't have to be rigid. As you age and transition through various life phases, your needs and objectives may evolve. Selecting the appropriate asset allocation model is a pivotal aspect of crafting a prosperous investment strategy. from mint - money

Meeting the EPFO's requirement of 10 years of service is essential, but merely reaching the age of 58 doesn't automatically qualify an individual for a monthly pension under the Employee Pension Scheme. from mint - money

Women's empowerment in financial decision-making is evident. Collaboration and transparency in financial matters are crucial for long-term well-being. from mint - money

Consolidating UANs requires notifying the EPFO and subsequently transferring funds from your inactive UANs to your active UAN. from mint - money

The Helios Capital founder says he has high hopes of the Union Budget that will be presented after the elections. from mint - money

Not all lenders are biased against part-time workers. Some may even offer specialised loan programs tailored to this demographic. It’s essential to research and compare lenders to find one that views your employment situation in a positive light. from mint - money

Utilizing your EPF for home loan repayment is a significant decision. It’s crucial to carefully consider the advantages and disadvantages before committing to one. from mint - money

Personal loans can be backed by collateral, known as secured personal loans or collateralised personal loans. from mint - money

NFBCs tend to offer slightly higher interest rates than those of commercial banks. For instance, Bajaj Finance offers as high as 8.6 percent per annum whereas Shriram Finance offers upto 8.8 per cent per annum. They raised their FD rates recently. We explain in detail here from mint - money

EPF withdrawal: The EPF subscriber can apply for partial withdrawal for a range of purposes which include marriage of self or child, medical needs, house purchase, home loan repayment, or house renovation from mint - money

In 'Maidaan' film, coach Rahim's leadership leads Indian football to success. The story portrays his sense of responsibility, ability to make tough decisions, and effective responses to situations. The movie also offers valuable money lessons on building a strong investment portfolio. from mint - money

With the new rates coming into effect, overnight MCLR is 8.10 percent against 8.05 percent earlier. The 3-month MCLR is now 8.45 percent against 8.40 percent earlier. The six-month MCLR is 8.65 per cent against 8.60 percent earlie from mint - money

Diversification is the cornerstone of intelligent investing, essential for managing risks effectively when investing for the long haul. Here are some key steps you should follow to optimise the use of a demat account for portfolio diversification. from mint - money

Mobile phones in India have transformed trading, making it convenient and accessible. Retail investors can now open demat accounts quickly using mobile apps. Mobile trading has gained popularity, especially during lockdowns, allowing retail investors to open demat accounts easily. from mint - money

Section 54 allows an exemption for long-term capital gains from selling a residential house by investing in one house within the prescribed period. Mumbai Tribunal has allowed the exemption for investing gains from multiple house sales in one property from mint - money

How to become rich: Experts emphasise the potential of Mutual Fund SIPs for long-term wealth accumulation. By incrementally increasing monthly SIP contributions with SIP step-up, investors can build a significant corpus from mint - money

Debt funds, which are instruments to invest in fixed-income securities like bonds, saw a massive ₹1.98 lakh crore outflow in March 2024. Debt funds are type of mutual funds that are relatively less volatile and is seen as a regular income source. from mint - money

There will be no hike in GSV for policies; secondary market sales can help curb. from mint - money

By getting access to your credit report, you can evaluate your creditworthiness, look for areas for improvement, monitor credit health, and use it before raising a loan as well as to manage debt responsibly. from mint - money

CIBIL is one of the leading credit bureaus and one can access one's credit report from their portal by registering and following the necessary authentication process. from mint - money

Explore lesser known tax saving tips beyond Section 80C investments like PPF and ELSS, such as Section 80GG for rent expenses, Section 80D for medical insurance premiums, and Section 80CCD(1B) for NPS contributions. from mint - money

HDFC ERGO’s Paws n Claws appears to be a comprehensive pet insurance plan that could be invaluable for pet owners. With veterinary costs on the rise, this plan offers essential financial protection for those who want to ensure their beloved pets receive optimal care. from mint - money

Transferring a personal loan directly to another individual is not feasible. Personal loans are approved based on your creditworthiness and financial standing. from mint - money

The regulations provide for mandatory adherence to IOSCO’s principles, constitution of oversight committee to review index design, and powers of Sebi to initiate special audit, among others. from mint - money

Rejection of visas can impact your travel costs, especially when you have to cancel flight and hotel bookings. from mint - money

Passive ETFs and index funds consistently outperform active fund managers due to lower expense ratios and stable returns, driving a surge in passive investments in India. from mint - money

As insurers continue to expand the general insurance landscape with tailored non-life insurance products, more Indians ought to enhance their financial protection against a wide range of non-life risks in order to lead a stress-free life. from mint - money

One way to invest your money is to top up the existing portfolio, while another alternative is to diversify into multiple assets such as equity, debt and fixed income instruments by investing into multi-asset funds, suggests an expert. from mint - money

World Health Day: Healthy financial planning not only extends and enhances our quality of life by securing a stable future, and fostering resilience against emergencies, but also empowers us to pursue our life goals, even in our golden years. from mint - money

Gains earned on Gold ETFs bought after March 31, 2023 are taxed as per the income tax slab irrespective of the time when you sell them. Sovereign gold bonds are taxed at the slab rate when sold within three years of buying or at 20 percent when they are sold after 3 years from mint - money

First Omen is a psychological scary movie set in Rome in 1971, where a novice nun uncovers dark secrets in a convent, battling evil and facing signs of danger. The film offers lessons on being cautious with investments and trusting the right people with your money. from mint - money

Demat and trading accounts are distinct offerings for traders and investors. There's a limitation to linking trading accounts from different depository participants to a single demat account. However, there's no restriction on the number of demat accounts you can maintain. from mint - money

A lot of banks are offering high interest rates of 7-9% p.a. range on fixed deposits of various tenures. The rates are expected to go down in the second half of 2024. Hence, this is a good time to allocate some money from the debt portfolio to FDs at current high rates. from mint - money

Secured credit cards are meant for individuals who have poor or no credit history. You will need to give a security deposit, that serves as your credit limit. Use the card responsibly by making small purchases and paying off the balance in full each month to show responsible credit usage. from mint - money

There are a number of factors not affecting your credit score such as salary level, employment status, savings, insurance policies, utility bills and social media activity. from mint - money

Key advice for securing a home loan for under-construction property: Verify project approval by major lenders, make payments according to construction progress, choose construction-linked plan from mint - money

Income Tax department releases e-filing versions of ITR-1, ITR-2, and ITR-4 for FY 2023-24. Deadline for filing ITRs is July 31, 2024. Online and offline tools available for filing returns. Various ITR forms cater to different taxpayers' needs and situations. from mint - money

Bank of India revises FD rates: Senior citizens receive an extra 50 basis points (bps) on tenors of 6 months and above, while super senior citizens are granted an additional 65 bps from mint - money

With the new financial year starting, salaried individuals must decide between old and new tax regimes. The default option is now the new regime, with different rates and deductions from mint - money

Adding a co-applicant can substantially enhance your prospects of obtaining a larger home loan amount. Nonetheless, select your co-applicant thoughtfully and ensure both parties fully comprehend the joint responsibilities. from mint - money

Secured credit cards cater to the needs of young Indian borrowers by offering low entry barriers, flexible credit limits, and competitive interest rates to help build a positive credit history responsibly and establish a secure financial future. from mint - money

Though not fool proof, a prevalent practice adopted to prevent value erosion on account of formal separation is via a trust structure. from mint - money

Lender says dubious online international transactions were random attacks on certain cards. from mint - money

SBI announces suspension of Internet Banking, Yono Lite, Yono Business Web & Mobile App, YONO, and UPI services on April 1, 2024, for Annual Closing from mint - money

When you max out your credit card, you are using the entirety of your available credit limit. This leads to a high credit utilisation ratio, which can adversely impact your CIBIL score. from mint - money