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Recurring deposits are provided by banks to help people invest their money through regular monthly deposits and earn interest at applicable rates. The deposits made every month will mature on a specific date in the future. In fixed deposits, you invest a lump sum amount and so the money earns interest till it reaches its maturity.

Recurring deposits are provided by banks to help people invest their money through regular monthly deposits and earn interest at applicable rates. The deposits made every month will mature on a specific date in the future.

Mobile banking is easy and convenient to use when you want to make use of small banking services. With mobile banking apps you would be able to transfer or receive money, check your account balances, open a FD account, etc. Most of the major financial institutions have mobile banking apps that can be used by their customers, when they want to make use of the banking services without having to visit their nearest bank branch. Here are a few top banks that have mobile banking apps:

Credit insurance policies cover the credit risks faced by businesses and people who have availed loans from financial institutes. The death or bankruptcy of businessmen will take a toll on the finances of the business.

The requirement of debit card details to make use of internet banking were made necessary for security reasons and to avoid false transactions.The debit card grid authentication ensures safety when it comes to the transaction activities of the customer. You can activate your net banking account without visiting a bank branch just by entering your debit card details. But users who don’t have debit card or ATM card details, have to visit their bank branch to complete registration for internet banking.

Most of the major banks have come up with apps to make online transactions like paying bills, recharging your mobile phones. Mobile banking has made banking related work easier and more accessible. Here are a apps provided by a few leading banks:

A UPI ID or a Virtual Payment Address is what you share with people with whom you want to make transactions with. To create your own UPI ID, you must download the app of your choice and register. While registering, there will be a section that asks you to enter your UPI ID. You cannot send money to someone or receive money from someone if you do not use your UPI ID. This is the only detail that you use instead of sharing your bank account number. 

There have been cases where UPI accounts have been hacked. UPI helps people to receive or send money to different bank accounts. You would have to create a virtual ID or payment address and password and link his/her bank accounts with this ID. You would also have to create a PIN number which will be used for transactions. If the transaction is successful then there will be no issues.

UPI(Unified Payment Interface) is a system that is used to transfer funds or receive funds. It helps to power multiple bank accounts into a single mobile application. Here are a few best UPI apps in India:

No documents or certificates are required to be submitted by the member or his/her employer to get the benefits of withdrawing from an EPF account. But the individual must have a scanned copy of cheque ready as this will be required to be uploaded while applying for withdrawal from your EPF account online.

Recurring deposits are provided by banks to help people invest their money through regular monthly deposits and earn interest at applicable rates. The deposits made every month will mature on a specific date in the future. In fixed deposits, you invest a lump sum amount and so the money earns interest till it reaches its maturity.

Recurring deposits are provided by banks to help people invest their money through regular monthly deposits and earn interest at applicable rates. The deposits made every month will mature on a specific date in the future. In fixed deposits, you invest a lump sum amount and so the money earns interest till it reaches its maturity. However, in recurring deposits, the first installment earns interest for a 12 month period, the second installment for 11 months and so on. Due to this difference, fixed deposits are able to earn higher returns. But when you are unable to make deposits in a lump sum, opting for a recurring deposit is the best way to make investments each month. 

A fixed deposit(FD) is a type of investment made, where a customer deposits a lump sum of money in a fixed deposit for a specific period of time which depends on the financier. And once it is deposited it starts earning an interest based on the duration that is set. Whereas in a recurring deposit(RD), a fixed amount will be deposited every month and interest will be earned at the rate applicable.

While availing a home loan, you need to make monthly EMI payments which include the principal amount and the interest payable. The Income Tax Act enables borrowers to get tax benefits on both the principal amount and the interest. When it comes to the interest portion of the EMI that is paid for the year, it can be claimed as a deduction from your total income of up to a maximum of Rs. 2 lakhs under Section 24. But the home loan taken for the purchase or the construction of the house must be completed within 5 years from the end of the financial year in which the loan was taken by you.

EMIs are calculated depending on the principal amount borrowed and at what interest rate it is borrowed at. The tenure period is also considered while calculating your home loan EMI. So the amount repayable will be the amount borrowed plus the amount payable towards interest, which will be divided throughout the tenor of the loan with uniform monthly payments.The EMI for a 30 lakh home loan will depend on the interest rate and the tenure period that you and your lender agree upon. For instance, if you get an interest rate of 9% and a tenure period of 10 years, your Equated Monthly Instalment(EMI) will be Rs.38,003. 

Home Loan EMIs have seen a considerable decrease in recent years owing to prudent financial policies by the RBI. Currently, the base rate starts at 6.75% on Home Loans, giving one of the lowest monthly EMI amounts that Indians have seen. 

The EMI for a Rs.10 lakh home loan will depend on the interest rate and the tenure period that you and your lender agree upon. For instance, if you get an interest rate of 7.5% and a tenure period of 20 years, your Equated Monthly Instalment(EMI) will be Rs.8,056. 

The EMI for a 20 lakh home loan will depend on the interest rate and the tenure period that you and your lender agree upon. For instance, if you get an interest rate of 8% and a tenure period of 20 years, your Equated Monthly Instalment(EMI) will be Rs.16,729. When your tenure is long it seems like you have lower EMIs, however its best to take a loan for the shortest period of time. In a long term loan, the interest outgo will become too high.

Taking up the EMI moratorium is not a loan waiver of any kind. It is an EMI holiday where you wouldn’t have to pay your EMIs for a specified period of time.

A normal EMI calculator returns the EMI on a specific loan amount, rate of interest and tenure. Whereas a moratorium calculator returns the increase in EMI, interest or tenure on a particular loan balance amount, interest rate and the set loan tenure.

There are many ways in which you can check your bank balance. Banks have been sending regular SMS notifications, push notifications and emails to notify their customers on their account balance. Your bank or financial institute might also have a missed call service, where you will be provided with a specific toll free number. You can call that number to check your account balance.