Liberalised Remittance Scheme – What is LRS, Types & Why is it Important? Understand the benefits, rules, and regulations of LRS TLDR Points The Liberalised Remittance Scheme (LRS) lays down the guidelines for outward remittances from India.It is part of the Foreign Exchange Management Act (FEMA) 1999 by the Reserve Bank of India (RBI).Under the LRS, the upper limit of remittance is $2,50,000 per financial year.You can send money abroad for genuine reasons like your child's education or to fund personal expenses.You cannot remit funds abroad for buying lotteries or banned magazines, amongst others.LRS applies to all resident individuals in India.
Introduction A few decades ago, remitting funds abroad to educate your child or help in emergencies was cumbersome and time-consuming. Outward Remittance – Meaning, Benefits & Steps in Outward Remittance Process. Discover the meaning, benefits, guidelines, and process for outward remittance.
TLDR Points An outward remittance is the transfer of funds from India to a foreign country.It is a safe and quick way of sending money abroad.You can use outward remittance to cover tuition fee, living expenses, pay for medical treatments abroad, buy assets, and more.The Reserve Bank of India (RBI) regulates foreign transfers under the Foreign Exchange Management Act (FEMA). Foreign Remittance. What is Mutual Fund NAV? Role in Fund’s Performance Explained. What does a mutual fund’s NAV or Net Asset Value mean and what goes into it?
We have the answers TLDR Points The Net Asset Value (NAV) represents the price you will get for a single unit of your mutual fund schemeThe NAV is the total value of the scheme’s assets (minus liabilities) divided by the number of units issuedThe NAV fluctuates based on changes in the value of the scheme’s underlying portfolio What is a Mutual Fund's NAV? Inward Remittance – Meaning, Benefits & Process of Inward Remittance. Inward remittance refers to the transfer of money to India from a foreign country TLDR Points An inward remittance refers to the money received by you in your account from a foreign country.The upper limit on inward remittances is $2500 per transaction.The cap on the number of inward remittances per calendar year is 30.Banks may charge a fee for facilitating the remittance.
Introduction. Telegraphic Transfer – Meaning, Fees & Advantages of TT. Understand how a telegraphic transfer works TLDR Points Telegraphic transfer was a fund transfer method used in the 1990s.It was primarily used for quick international money transfers.Today telegraphic transfer refers to a broad set of methods of money transfer including wire transfer and SWIFT transfer.It can take between 1-5 business days to reach the beneficiary's account.The financial institutions involved in the international money transfer will charge a fee to facilitate the transfer.The money is converted into the currency of the beneficiary bank's country at the prevailing exchange rate.The financial institutions involved will charge a markup on the exchange rate.
What is a Telegraphic Transfer? The story of telegraphic transfers started decades ago. Back then, when someone wanted to send money to their loved one across the border, they would go to their bank. What are the Best Long Term Investment Options in India? Find answers to all your long-term investment questions here.
TLDR Points Long-term investments go beyond five years.These are perfect for goals like retirement, buying a new home, or planning your child’s future.Some long-term investments in India include PPF, equity mutual funds, and bonds. How ‘long’ is ‘long-term’? 7 Key Benefits of Savings Account. Explore the many benefits of a Savings Account TLDR Points A Savings Account bears interest on the deposit amountIt is a safe way to keep your moneyIt helps to reach financial goalsIt is the first step towards getting credit from the bankIt helps to pay instantly for purchasesIt automates bill paymentsIt keeps track of income for income tax purposes Introduction “Do not save what is left after spending, but spend what is left after saving.”
Liquid Funds – Meaning, Types & How Do They Work. A look at what is a liquid fund, how it works and associated risks.
TLDR Points A liquid fund is a lucrative option that is low-risk.It has a comparatively shorter term ranging from 30-91 days.Price variations are small over short-term investments, which improves your investment horizon.With zero lock-in period, banks or AMCs can process redemption requests faster. Introduction. Hybrid Funds – Meaning, Types & Features of Hybrid Mutual Funds. An outline of everything you need to know about hybrid mutual funds TLDR Points A hybrid fund invests in more than one asset class.
Typically, it is a combination of equity and debt.It offers diversification, appeals to investors with different risk profiles, allows opportunities to buy low, and sell high.There are 7 types of hybrid mutual funds- balanced, aggressive, conservative, equity savings, multi-asset allocation, dynamic asset allocation, and arbitrage.The hybrid fund gains are taxed based on whether it is equity-oriented or otherwise. Introduction If you are a mutual fund investor looking for a dynamic portfolio, then hybrid mutual funds are right for you, these funds give you the best of both worlds-equity and debt. 5 Different Types of Mutual Funds in India. This article discusses the different types of mutual funds that you can invest in.
TLDR Points Mutual funds have mainly three types of asset allocation - equity, debt and hybrid.Equity funds are tied to the stock market.They give great returns at a higher risk.Debt funds are tied to fixed-income securities and are less risky.Hybrid and balanced funds combine debt and equity securities in one portfolio. Are you looking for an investment instrument to fetch you high returns so that you can live the life of your dreams? SIP Benefits - 5 Important Advantages of SIP Explained.
Invest regularly today to earn great rewards tomorrow Start an SIP with as low Rs. 500Benefit from Rupee cost averagingExplore the power compounded interest with SIPsInvest at your convenience from anywhere Small, consistent efforts today can reap rich rewards tomorrow. Many of us have read Aesop’s fable of the thirsty crow and the water jug in our childhood. How to Invest in SIP in 5 Easy Steps? Start your SIP online right away and enjoy the benefits of long term investment. TLDR Points Systematic Investment Plans (SIPs) are an excellent way to invest.They allow you to invest in small amounts.You can start a SIP online in just a few clicks.
Introduction When you invest, you want to grow your wealth to achieve your long-term goals. How to Invest in SIP in 5 Easy Steps? Know about Equity Mutual Funds Taxation in India. This article discusses the concept of equity mutual fund taxation. TLDR Points Capital gains or profits on all equity mutual funds are taxable.These profits are grouped into Short-Term Capital Gains (STCG) and Long-Term Capital Gains (LTCG).Any gains less than a year come under STCG.Anything more than a year is subject to LTCG.ELSS (Equity-Linked Savings Schemes) qualify for a tax deduction under Section 80C of the Indian Income Tax Act.LTCG on ELSS will apply under the current income tax rules. Fees for Wire Transfer - How Much Does International Wire Transfer Cost? An outline of the costs attached to making an international wire transfer. TLDR Points An international wire transfer is an electronic means of transferring funds between sender and recipient.It is safe and convenient to use.The bank fee, GST, exchange rate markup charged by the bank and fees charged by intermediary or correspondent bank(s) collectively determine the cost of the transfer.Save money on your wire transfer by choosing a bank that offers competitive exchange rate markup, and zero fees on certain currencies and routes.
Introduction. Guide on How to Redeem Debit Card Points? Earn more with every swipe of your debit card TLDR Points Debit card reward points get accumulated on select purchases.You can redeem these points for exclusive offers from your bank.Reward points add value to your transactions.Every bank curates a list of offers for its customers.You will find these offers on a bank's website or mobile banking app.You can redeem points online at your convenience. The points are in, and you have the chance to redeem them, but what makes the most sense for you? Step-by-Step Guide on How to Open Recurring Deposit Account? How to Open a Fixed Deposit Account? How to Open a Savings Account in India? How to Invest in Mutual Funds in Several Ways. Guide on How to Invest in Liquid Funds. Guide on How to Invest in Index Funds. Guide on How to Invest in Gold ETFs. How to Invest in ETFs – Step-by-Step Guide.
Guide on How to Invest in ELSS Funds Online. Debt Fund Investment - How to Invest in Debt Funds? Guide on How to do a Wire Transfer from India? How to Buy Mutual Funds Online – Step-by-Step Guide. How do Mutual Funds Work in India? Fees for Wire Transfer - How Much Does International Wire Transfer Cost? Different Types Of Foreign Remittance in Banking. Read 5 Best Tax-Saving Investment Options in India. Working of SIP in India Explained. Everything about Mutual Fund Apps Online. Read 4 Benefits of Liquid Funds in India. Read 6 Benefits of Equity Funds in India. Read 9 Benefits of Mobile Banking Apps in India. Read 7 Benefits of Instant Savings Account. 7 Benefits of Fixed Deposit Account Explained. 4 Benefits of Money Transfer App. Top Mutual Funds in India For You to Invest in. What are Short Term Investment Plans in India? Read 6 Benefits of Digital Savings Account. Cash Remittance – Working & Payment Methods for Making a Cash Remittance. How to Improve Credit Score Fast.
USA Travel Guidelines - A Complete Guide. Know UK Travel Guidelines in Detail. Dubai Travel Guidelines. Singapore Travel Guidelines Explained. Canada Travel Guidelines & Restrictions. Australia Travel Guidelines - A Handy Guide. What is FASTag & What are its Benefits. How to Recharge FASTag Hassle-Free. How to Get a FASTag Instantly. How to Activate FASTag In a Few Minutes. What is Cibil Score & its Significance. Savings Account Transaction Limits & Rules. How to Open a Bank Account Without PAN Card. Understand How SIP Works In Practice. ETF Vs Index Funds - Choose the Right One Only With digibank. Choose the Best Mid Cap Mutual Fund With digibank. Best ELSS Funds You Should Invest In. Ways To Transfer Money From Credit Card to Bank Account. What is Deposit - Overview, Types & How Does It Work. What Is Mobile Banking & What Are The Various Services It Offers. Debit Card CVV Number - Meaning, Importance & Where To Find It. How To Check Aadhaar Linking Status With Bank?
Liquid Funds Vs Debt Funds - Which Investment to Choose? What is Equity Fund - Meaning, Types & Features of Equity Fund. Advantages of Debit Card We Should Know. What is Financial Planning. Read about Highest Interest Rates Savings Account. Steps Needed To Change Address On Bank Account. Documents Required For Opening Bank Account. CKYC - Understand CKYC Number in Banking, Benefits & Registration Process.
Advantages & Benefits of Using A Savings Account App. Term Deposits - A Detailed Beginner's Guide. Tax Saving FD - Why You Must Consider Investing In It. All You Need to Know about Senior Citizen Fixed Deposit. Personal Loan For Women - Eligibility, Features & Documents Required for Submission. Various Debt Fund Types & A Guide On How To Choose The Best One. Index funds – Meaning, Why to Invest & Factors to Consider Before Investing. NEFT Meaning – All You Need to Know about National Electronic Funds Transfer. Bluechip Fund – Meaning, Features & Why to Invest in Blue-Chip Fund.
Types of Primary & Secondary Investment Objectives. 6 Benefits & Features of Savings Account. UPI Transaction Limit – Important Facts & How to Make a UPI Transaction? UPI Payment Application - Features, Why & How to Choose Digibank UPI Payment App? Types of Bank Accounts: 6 Different Types of Bank Accounts in India. Open-Ended Mutual Fund – Meaning, Advantages & How does it Work. Marriage Loan - Get Personal Loan for Marriage. Large Cap Mutual Funds – Meaning & Factors to Consider Before Investing for Large Cap Funds. Bank Balance Check App - How to Check Your Bank Balance Online? How to update your KYC In Simple Steps? Know How to Activate Debit Card? digibank by DBS. Equity Vs Mutual Fund: Which Is the Better Investment Option?
ELSS Vs PPF: Which Is the Better Tax-saving Investment Option? Personal Loan Documents for Salaried Employees & Self-Employed Individuals. Difference Between Debt funds vs FD – Which is Better? Close-Ended Mutual Funds – Overview, Advantages & How to Invest?