Deposits

Opened a bank account, maintain an insignificant balance, and then forget about it after a few years?

Credit cards against fixed deposits, also known as secured credit cards, are a type of credit card that is issued against a fixed deposit account held with a bank. The fixed deposit serves as collateral, and the credit limit on the credit card is typically a percentage of the fixed deposit amount, typically about 75% to 85% of the FD amount.

A pre-approved loan is like additional financial assistance offered by banks and NBFCs to only those with excellent credit scores and repayment records. Pre-approved loans are personal loans usually unsecured – meaning they don’t need collateral or security.

To say that 2020 has not unfolded as expected is the understatement of the year. The Coronavirus pandemic has brought the whole world to a standstill. Companies and businesses are forced to resort to desperate measures like layoffs and pay cuts to survive the economic blowouts of the pandemic.

A fixed deposit is an attractive, risk-free method to grow your wealth. Here, in this guide, check out the interest rates offered by ICICI bank for fixed-term deposits.

Income funds are a specific type of debt mutual funds that invest predominantly in money market instruments like government securities, corporate bonds and more. It's an excellent investment product for investors who look for a steady income. Here, in this guide, we give you all that you need to know about income funds – features, benefits, types, how to choose the right one, and top-performing income funds in India.

Fixed Deposits are one of the safest investments to grow your wealth. They are secure financial instruments that offer guaranteed returns.

The best mutual fund may not always be the one giving the highest returns. It should be the one that satisfies your risk appetite while giving you stable returns to achieve your goals. Many people just go in for the returns of the fund, that too most recent returns, which can be a grave mistake.

When it comes to investments, the majority of Indians prefer risk-free products that offer steady returns, irrespective of market conditions. To meet the investment objective of conservative investors, banks offer two unique investment products – fixed deposits (FD) and recurring deposits (RD).

Different financial goals require different savings approaches. Short-term savings are ideal when you are in need of liquidity as well as interest earnings. If your financial goals have extended deadlines, a long-term savings option could work perfectly. 

Investing in a fixed deposit (FD) or a public provident fund (PPF) requires some basic know-how on an investor’s part. Often, investors get confused between FD and PPF. It could be dangerous to rely on recommendations from other investors considering every individual has his or her own financial goals.

Old age is the time to relax and enjoy life. Planning for a peaceful and joyful retirement is a smart move that you make when you are young. There are several saving schemes and insurance plans that can help you save money for old age. National Pension System (NPS) is one of the saving schemes that offers several benefits. NPS subscribers can avail an additional tax benefit of Rs. 50,000 under section 80CCD(1B) of the Income Tax Act. Are you interested to know more about the saving scheme? Read on!

Both Fixed Deposit (FD) and Recurring Deposit (RD) are safe investment avenues which are ideal for individuals who look for risk-free returns. Though all the banks offer the same rate of interest on both the investment schemes, many people find themselves in a confused state to make the best choice between the two.

Kannan’s wedding was fast approaching. His hard-earned savings wasn’t sufficient to cover all the expenses of his wedding preparations. Having no time to think of the best way to gather money, he applied for a personal loan in a hurry. Being the first-time borrower, the lender agreed to sanction him a loan at an interest rate of 17%, which he immediately accepted it due to the circumstances.

While it is good news for those looking for fixed deposits to be a short-term investment option, others might not be so lucky, it is widely expected that the lending rates too would go up, especially those with home loans would be required to pay more in the form of EMIs. The increase in the lending rate is to tighten the liquidity in the market.

Mutual fund is one of the popular methods of investment that offers high returns in the long-term. If you have invested in a mutual fund, you might want to know how to redeem the amount invested at a certain point of time. Moreover, it is also vital to have substantial knowledge about when you can redeem your funds and when not to do it.

Mutual fund investment has become a popular financial instrument for many people post the push given for investment after demonetization. With the advent of online facility to manage the mutual fund accounts has popularized this instrument, awareness and educational programs too have helped.

When it comes to investments, a large number of people look for safe or risk-free investments that guarantee capital protection. A safe investment is one that has little or zero risks.

Investment in mutual funds is the most talked about topic in finance in recent times. There are varied financial vehicles where you can park your money and earn a handsome return after several years. Mutual fund is one of them that allows you to invest and redeem the savings after a specific period. A lot of people in India hesitate to invest in a mutual fund purely for the reason it is subject to market risks. Some are eager to invest but still do not know how to go about it.

A tree does not bear fruit in a day. Likewise, any investment plan requires sufficient amount of time to get good returns. For a responsible and disciplined saving, Systematic Investment Plan (popularly known as SIP) is a wise approach to begin your long-term investment plans.

The banking sector has embraced digitalization which come with its share of misgivings. Do not think that is an episode of Black Mirror but there is a serious risk to how we share data online especially how we financial information.