Comparison between personal loan and a credit card loan. Life is all about unpredictable circumstances. These situations may be anything from a medical expense to household expense to an urgent vacation. However, what makes these situations more terrific is the unpreparedness. However, credit lending has made tackling such issues so easy. When it comes to borrowing collateral-free unsecured loans, personal loans and credit card loans are the first two things that come to every potential borrower's mind. Though both these loan facilities make it easy to meet the financial requirements, yet to choose one amongst the two can often confuse people. The choice, however, is subjective to the borrower's needs.
On a concluding note, it can be stated that both personal loan and credit card loans are accompanied by their own set of terms and conditions. What is FD calculator and how it works. Fixed Deposit is the all-time safest investment option and is also one of the top investment options for people in India. For decades people have been investing in fixed deposits and earning good returns with complete guarantee of return on their investment. However, if you are one of those who find it difficult to get the numbers right then here we will explain how to use the FD interest rate calculator so that the numbers can become your friends. Although there is one thing that you must remember while investing in a fixed deposit is that your returns on the investment won’t be over the top. FD usually has a low or medium rate of return. But the bright side is that it is the safest investment option.
At present, the bank’s interest rate on FD is in the range of 5% - 7.5%. Now, let’s move on to the interest calculation part, for which you need to understand simple and compound interest. Simple Interest The calculation would be - Year 1: 1,00,000*10% = Rs. 10,000 Compound Interest. How to choose the best Credit Card online - Help4Flash Blog. A Credit card has become the new inevitable reality; it is the most common way to access the credit. It is a rectangular-shaped plastic card provided by the banks and financial institutions which allows a borrower to take credit for any use under the pre-approved limits. The two prominent credit cards benefit will enable the option of credit anytime and charges almost nothing if the payment is made before the deadline. However, the use of credit cards must not be taken for granted. An individual needs to be shrewd while purchasing and using a credit card; he must maintain a lower credit utilization ratio and must pay back the outstanding amount before the deadline.
Smart and cautious use of Credit cards will positively impact the CIBIL score and will not deter the creditworthiness of the user. Now that we have understood why it is crucial to choose the best credit cards let us dive into what factors should be considered while looking for the best credit card. Credit card limit 4. Credit Card Payment: Pay Credit Card Bill Online & Offline. How Fixed Deposit can help you in Saving Money - Scoop Article.
The urge of spending money to fulfil their dreams among the youth is irresistible as they prefer to live in the present without giving much food for thought about the future situation. However, the problem of lagging in foreseeing the emergencies that may arise in the nearby future can lead to financial distress and more debts. It is thus considered to utilise some of the earnings to save funds for unexpected situations and emergencies. One can save money by preparing an analytical budget of all the expenses and the sources of income. Along with making a budget, it is essential to stick to the budget if you want to have some surplus funds in your pocket. However, it is critical that keeping surplus funds idle in the savings account is not the solution to save money. You can save money by utilizing the funds in various investment schemes such as Mutual funds, PPF, fixed deposit etc.
What is a fixed deposit? Why should one invest in fixed deposits? Banking Awareness, Difference between NEFT, RTGS and IMPS. Posted by divyakapoor on April 7th, 2020 Transferring money in India has become faster and more comfortable with the help of evolving technology. A massive number of financial institutions, banks and other government sections are adopting different types of payment methods. Payments methods like NEFT, RTGS, and IMPS has become more convenient, quicker and useful for the people. These payment methods have different features and flexibility based on their speed of transfer, the transaction value, availability of services. Although, each of them has its pros and cons, so opting for best payment methods sounds quite challenging, especially when you need to make faster payments. While IMPS was introduced by NPCI (National Payments Corporation Of India), RTGS and NEFT came into existence by Reserve Bank Of India.
Let us discuss more for Banking awareness, the difference between NEFT, RTGS, and IMPS. ● Settlement type- Half-hourly batches ● Minimum Limit- Re.1 ● Settlement type- Real-time. Top 5 Credit Cards In India For Backpackers – Traffic Booster. Who doesn’t like to travel, whether it be in the country, or across the world? But our tight budgets often keep us hinged to the place we are. Here we are going to talk about the best Credit cards available in India for your domestic travels, which are going to be extremely light on your pocket.
The Amex Platinum Card is one of the best we have got out there in the market. This card offers one of the highest reward rates in their niche, i.e., 8%. The foreign exchange markup fee of the credit card is 3.5% + service tax. The HDFC Travel Credit Card is the best Uber premium Credit Card. Unlike any other travel credit card, you get unlimited lounge access. You end up getting many privileges through the Axis Bank Credit Card. If you spend 2.5 lakh, then will you get 7,000 reward points. This is the top tier credit card in the game out there. The joining fee is 5,000 INR+ tax. This is the top tier Air India Credit Card, collaborated with SBI. Which is the best card? Saving Schemes In India You Should Invest In | Posts by Divya Kapoor. The inflow and outflow of money from our bank account seems to be directly proportional to each other.
The faster it comes, the quicker it leaves. Hence, it could be a great idea to set aside some money periodically so that it accumulates into a large sum and helps in case of emergencies or meeting life goals. Many private or government bodies, especially banks, offer saving schemes that help their customers to start investing. Best Saving Schemes in India The money kept aside as savings can be helpful in so many ways. It will help you to meet your aspirations in life, such as education, purchasing property, child marriage, etc. National Saving Certificate NSC is a saving scheme launched and backed up by the government of India.
The customer needs to make a minimum investment of Rs. 500. After some point of investment, they can claim a deduction of Rs. 1,50,000 under section 80 C. The rate of interest doesn’t fluctuate after the saving is started. Public Provident Fund. Making Investments? Know More about Saving on Taxation. Banking Awareness, Difference between NEFT, RTGS, and IMPS – Traffic Booster. With the passage of time and advancement of technology, our banking system has evolved and made our life more comfortable. Online fund transfer is gaining ground, and people are increasingly using online mode of payment for daily purchases.NEFT, RTGS, and IMPS are the three essential modes for transferring money. NEFT and RTGS were introduced by the Reserve Bank of India whereas IMPS was started by the National Payments Corporation of India (NPCI). These payment systems provide flexibility and convenience to account holders. Through NEFT, RTGS, and IMPS are the same in terms of purpose, there are some differences between them.
Scroll down to know the difference between NEFT, RTGS and IMPS. Purpose NEFT stands for National Electronic Funds Transfer. Type of settlement Transaction limits There is no minimum amount or maximum amount for transferring funds through NEFT. Timing for transactions GST charges. Which FD Schemes provide highest interest rates in India? It is essential to save money to protect and safeguard oneself from unanticipated and accidental circumstances that the future may hold for them.
There are many ways in which consumers can invest and ensure that their surplus money is being stored away and saved for future purposes. Different methods of investment have different fixed deposit interest rates and applicable terms and conditions. After the Sovereign Bonds issued by the Indian Government, the safest and most-trusted method of investment is a fixed deposit.
A fixed deposit (FD) is a financial tool that is provided by banking institutions or NBFCs. It is like a contract that allows a guaranteed rate of interest on a half-yearly or annual basis on the invested amount. Here are a few determinants that decide the rates of the Fixed Deposits: Key features to remember before investing in Fixed Deposits: Fixed deposits can be laid down in a single or a joint name.It is a type of agreement that concerns the investor and the bank. What is Better? Bonds or Fixed Deposits. In present times, investment has become a popular household name. Undoubtedly, in the current times of advancement and upgradations, people prefer investing their money and generating extra income out of it, instead of merely storing it. Investment is allocating or staking funds, with an expectation to earn benefits. Though there are several investment options out there, yet the most popular are bonds and fixed deposits. Both these investment instruments offer a fixed income to the investor.
Yet, to know, which one is better, it is essential first to identify the associated benefits with Fixed deposit and bonds. What are bonds? A bond is an investment instrument issued to the investor when he acts as a 'lender' to a company. What are fixed deposits? A fixed deposit or FD is one of the most popular investment tools amongst Indian households. Which of these is a better investment option? Liquidity: Bonds are liquid in nature because they can be traded in terms of exchanges.
Coronavirus: Tips To Avoid Any Financial Distress - MyLoanCare.in. 12 total views, 6 views today The outbreak of coronavirus has silenced and brought a discomforting slowdown in the everyday lives of most of us in some or other ways. The financial sector is no exception as the virus has globally, pushed the financial markets into a tailspin. The current situation is highly uncertain and it would be prudent for every individual to take stock of their current savings, expenditures and contingency funds.
Tips to Stay Financially Prepared in Times of Covid-19 Pad your Savings Now is the time to go extra conservative on your spending. A complete lockdown and an extreme situation of being down with the disease would mean long periods of leave and business losses. Build Additional Sources of Income An extra bundle of cash can be a savior in this situation. Don’t Miss Credit Payments Avoid procrastination in managing your credit card and EMI dues. Go Digital To prevent yourself from getting sick from coronavirus, avoiding the crowds is key. Invest your Money Wisely. Things about Credit Card you must know -
Credit cards have become widely popular owing to their default perks, reward points, and lucrative offers. They are amongst the most popular money tools these days. But things are not always simple and easy, and there are a lot of things that the user needs to keep in mind while using credit cards. Income The first and the most significant factor for using a credit card is your income. Every bank will first take a look at your income level before lending a credit card. 2. It is always recommended to opt for a credit card from a bank where you had or still have a savings account. 3. Credit history and credit score are important for getting credit cards as CIBIL or the Credit Information Bureau Limited keeps a record of every person who is associated with banks. 4.
Before getting a credit card, it is important to know why you want a credit card. 5. A lot of credit cards come with an annual fee. 6. If you have a fixed deposit in a bank, you can avail a credit card easily. 7. 8. 9. 10. 10 Best Airline Credit Cards For Domestic And International Travel. Airline credit cards are meant for those who love traveling and often go on trips. This card features a variety of benefits to their consumers, such as a discount on hotels, air miles, discounts on air tickets, shopping discounts, bonus points, and more. Also, the majority of such airline credit cards offers some sign-up bonus in terms of miles or even money.
This bonus can be very advantageous for you as you can redeem those miles for flights. There’s no specific conversion, and the miles needed for a particular flight differ from destinations and airlines, but one thing is sure that with the sign-up bonus, you can easily churn out a single flight. The list of benefits does not end here, mentioned below are some of the key benefits that you can enjoy by owning an airline credit card. 1. 2. 3.
There are many other perks that you can enjoy with a credit card, even if you don’t travel very frequently, such cards will help you to make your trip more comfortable and enjoyable. 1. 2. 3. 4. 5 tips to get maximum returns from your fixed deposits. How You Calculate Interest On FD | MLC. In Indian households, Fixed deposits (FDs) due to its assured and guaranteed returns have been one of the preferred modes of investment. In earlier times FDs were mainly available at banks and post offices, though in recent times the scenario has changed, now, you can open deposits offered by non- banking finance companies (NBFCs) that actually provide a higher rate of interest then existing in the market. Have you ever wondered how interest rates are calculated on FDs? Do you have the same question about the formula that’s used to calculate the interest earned, the factors affecting them, and the maturity amount?
The formula for calculating FD interest rate: You can use the formula to calculate interest on FD A = P (1 + r/25) 4n Here the denotations used are: A is the maturity amount, P is the deposit amount, and N is the frequency of compounded interest. Using this above formula, you can determine the final maturity amount of your fixed deposit. – Principal amount – Deposit tenor – Deposit type. 10 Best Credit Cards you can take Without any Annual Fee. Credit cards have become the most sought after financial products to make hassle-free payments. It reduces the need of carrying physical money in your wallet each time you go out for shopping. The concept of a credit card is that you can purchase things on credit and you need to pay later on. However, if somehow you miss paying your credit card bill sometime it might shred some extra amount on your bill to settle it down. Most of the individuals fail to use a credit card due to multiple charges involved with them.
Here are some of the best credit cards which require no annual or joining fee. HSBC Visa Platinum Credit Card It is one of the best credit cards which is offered by HSBC Bank with no joining or annual fee. 1) A cardholder will get the introductory benefits of worth Rs. 4,500 on joining 2) Voucher of Rs. 2,500 from Cleartrip 3) Cashback of up to Rs. 2,500 on spends of up to Rs. 10,000 within 90 days of card issuance 4) Get 3X rewards across dining, hotels for the first 12 months. Explain The Complete Process Of Applying For A Credit Card. Are you nearing retirement? Here is where you should invest. 5 Credit Card Trends to follow in 2019. Shop with Credit card and earn money. Allperfectstories. The Real Risk Behind Credit Card Debt. UNEXPECTED THINGS THAT AFFECT YOUR CREDIT SCORE. Fix Deposit as a Popular Choice for Investment.
Savings Schemes in India that you can invest in | YouWoch. Divya singh Kapoor's blog. Identify & escape form credit card debt. Save income tax with fixed deposit. 7 Signs Indicating Wrongful Use of Credit Card. A Quick Checklist for FD investors. DIFFERENT CREDIT CARDS FOR DIFFERENT WOMEN. Build Your Credit Score with Credit card - Exactarticle. Increase Your Credit Score with These Simple Steps | Hugecount. How Does The Lock-in Of Fixed Deposit Work? - To Be Frank Magazine.
Mistakes you should avoid whil… | divyakapoor. Help yourself to Improve your CIBIL score Article. Find the Best Credit Card Offers & Deals – 2019. FIVE STEPS TO BUILD STRONG CREDIT - Articles Idea. Benefits Of Credit Card Balance Transfer - SupDrew. Know healthy credit score withmyloancare. Avail Credit cards with these simple steps. Divya singh Kapoor's blog. Quick & Effective Ways To Improve Your CIBIL score - The Top Hints.
Why only paying minimum due on credit card is a bad idea – Free Evolve Emccd Article Directory. The Most Important Factors Affecting Your Credit Score & How to Improve Them. Improve Your Credit Card Approval Chances With These Simple Ste - Blog View - Lightworkers.