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The Importance of Pension Funds: Secure Your Future with Steady Retirement Income
At a younger age, retirement planning may not be high on your priority list, as you might be of the mindset there is still a lot of time left. However, as age catches up with you, you might be in a hurry to save enough money for a comfortable life post retirement. As the golden years approach, the importance of a secure and comfortable retirement becomes increasingly evident. This is where pension funds come in handy. Now, you might be wondering, what is a pension fund? In this journey towards financial fulfillment, pension plans act as invaluable tools that provide a steady income stream during retirement. In this blog, we'll delve into the world of pension plans and their benefits.
Navigating New Fund Offers (NFOs): Opportunities, Risks, and Considerations
Individual investors have started to invest more in mutual funds in order to diversify their portfolios. By investing in mutual funds, they also seek professional management of their investments. New Fund Offer (NFO) is one of the key events in the life cycle of mutual funds. If you are looking forward to exploring new investment opportunities and diversifying your portfolio then NFOs are designed for you.
Demystifying RTGS: A Comprehensive Guide to Real-Time Gross Settlement
With the advent of technology, banking has gathered momentum closing gaps between time and space. These days fund transfer is no more a matter of grave concern let alone the trepidation of physical presence, security, and much more. With efficient technology, financial security has evolved through Real Time Gross Settlement (RTGS). Banks today have many modes of transferring funds, such as Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT), and Real-Time Gross Settlement (RTGS). While the first two are the fastest and most secure modes of transacting small funds, RTGS is a swift and secure way of transferring large funds to another bank.
Understanding Gratuity: Your Complete Guide to Employee Benefits
In the complex landscape of employment benefits and compensations, the term "gratuity" frequently arises. Gratuity is a financial benefit offered to employees as a gesture of gratitude for their unwavering commitment and service. This comprehensive guide will thoroughly examine the concept of gratuity, delving into its definition, eligibility requirements, calculation methodology, and the significance of comprehending this essential employment benefit.
Investing in Debt Funds: A Comprehensive Guide for Steady Returns
Financial planning is one of the most crucial aspects of investment and at the same time, an individual needs to understand the various options that are available out there in the market which may further help an individual to make informed decisions. Among the various investment options that are available, debt funds is one of the most popular choices for those who are looking forward to steady returns with lower risk as compared to equity investments. This blog revolves around explaining debt funds, their functioning, features, associated risks and considerations for potential investors.
Understanding Bounced Cheques: Definition, Consequences, and Fees
In simpler terms, a dishonoured cheque also called as bounced cheque is the one that gets rejected by the bank due various financial and non-financial reasons such as lack of funds in the account, incorrect date, signature mismatch etc. In simpler terms, a dishonoured cheque also called as bounced cheque is the one that gets rejected by the bank due various financial and non-financial reasons such as lack of funds in the account, incorrect date, signature mismatch etc. This usually happens for a variety of reasons. When a cheque bounces, the bank may charge fees to the person who wrote the cheque (the issuer). Bouncing cheques repeatedly can hurt your credit score and make it harder to do business in the future. There can even be legal trouble / implications, if the cheque was dishonoured or returned unpaid for want of funds / insufficient funds.
Understanding MICR: Full Form, Meaning, and Its Role in Banking
While using cheque books, you must have noticed those magnetic code bars at the bottom of every cheque leaf. Those bars are unique ink codes that act as a special language that can only be understood and decoded by bankers. This is known as the MICR code. MICR stands for Magnetic Ink Character Recognition. It is a technology that involves the use of magnetic ink and special characters to process and verify the legitimacy of cheques. Introduced by the Reserve Bank of India, MICR technology has revolutionized the way banks process cheques and other financial documents. Read further to know more about MICR meaning in banking.
Importance of Insurance in Protecting Your Financial Future
In this vast and unpredictable world, we are all trying to navigate the twists and turns that life presents us with. It may sound like a doomsayer, but it's essential to acknowledge the realities that can disrupt our carefully constructed plans. And that's precisely where the concept of insurance steps in to lend a helping hand.
Different Types of Life Insurance - Which One is Right for You?
Getting a life insurance policy is one of the most responsible decisions you could ever take, as it ensures that your near and dear ones are not left behind without financial support in case of an unforeseen event. It stands as a crucial financial safeguard, offering protection and security for loved ones in the event of an unexpected tragedy. However, navigating the world of life insurance can be overwhelming due to the multitude of options available. Understanding the various types of life insurance can help individuals make informed decisions that align with their needs and financial goals, while safeguarding their loved ones.
Difference between Term Insurance and Whole Life Insurance
In a world of endless options, where information flows ceaselessly, and choices multiply like rabbits, navigating the labyrinth of insurance can feel like a daunting task. And when it comes to the age-old debate between term insurance and whole life insurance, the confusion only deepens. The financial world seems to have a language of its own, a language that often leaves the average person feeling like an outsider.
Demat Account for Mutual Funds: Your Comprehensive Guide
In today's dynamic financial landscape, managing your investments efficiently is crucial to building a secure financial future. One avenue that has gained immense popularity in recent years is the demat account for mutual funds. This innovation has revolutionized the way investors handle their mutual fund investments, offering convenience, security, and a streamlined approach to portfolio management.
Avoid Common Mistakes to File a Successful Insurance Claim
Insurance claims can be complex and overwhelming, especially when you're already dealing with the stress of an unfortunate event. Whether it's a car accident, property damage, or a medical emergency, filing an insurance claim is essential to receive the financial support you need. However, the process isn't always straightforward, and making mistakes can lead to delays, denials, or receiving a lower settlement than you deserve.
The Ultimate Guide to Vehicle Insurance: Types, Benefits, and How Does It Work
In the ever-evolving landscape of the automotive world, one constant remains – the need for reliable vehicle insurance. Whether you're driving a sleek sedan, a rugged SUV, or a zippy little hatchback, having the right insurance coverage is not just a legal requirement but also a crucial financial safeguard. In this comprehensive guide, we'll navigate the twists and turns of vehicle insurance, shedding light on its importance, the types of coverage available, and the various benefits that come with it.
Should You Include Your Parents in Group Health Insurance?
Health insurance plays a crucial role in ensuring financial protection against unexpected medical expenses. It not only provides coverage for the policyholder but also extends its benefits to family members, including parents. However, when it comes to including your parents in group health insurance, there are several factors to consider. In this blog post, we will explore the pros and cons of including your parents in group health insurance, discuss alternative options, and provide key considerations before making a decision.
Understanding Salary Accounts: Features, Benefits, and Opening Procedures
If you are wondering “what is a salary account?”, let us answer that for you. As the name itself suggests, a salary account refers to an account in which an employee’s salary gets credited. Salary accounts are a convenient way for companies to pay the salaries of their employees. These accounts come with a plethora of features and offer perks to the employees as well as the employers.
Mastering Monthly Average Balance: A Guide to Financial Security
In the ever-evolving world of personal finance, we often come across terms and concepts that can feel as elusive as trying to catch a fleeting breeze. "Monthly Average Balance" is one such term. Many individuals often perceive the minimum balance requirement as a tactic banks employ to restrict access to their funds or increase their earnings. However, this common belief doesn't necessarily hold true.
What is Goods and Services Tax (GST) in India - Meaning, Types & Benefits
Goods and service tax (GST) is a value-added tax (VAT) collectively levied on goods and services by the Central and State Governments. Following a dual structure comprising Central GST (CGST) and State GST (SGST), GST plays a significant role in revenue distribution formulated by the GST council. What is the GST Council? The GST Council is a joint forum of the Centre and the States, the Union Finance Minister, The Union Minister of State in charge of Revenue of finance, The Minister in charge of finance or taxation or any other Minister nominated by each State Government, making recommendations to the Union and the States on important issues related to GST.
Net Asset Value (NAV) in Mutual Funds: Calculation, Significance, and Importance Explained
Mutual funds have become a popular investment choice for investors as they offer professional management as well as diversification benefits. Mutual funds alone are capable of providing you with thousands of different options to invest in. But before investing, it is essential to understand certain terminologies associated with mutual funds.
Why Consider Gold as an Investment?
Gold has always held a significant place in Indian culture and traditions for centuries. But today, gold has also emerged as a popular investment avenue in India. The country has a long-standing affinity for this precious metal and it plays a crucial role in the country's economic landscape.
What is Travel Insurance? Exploring Coverage, Types, and Importance
Traveling is an exhilarating experience that unveils new cultures, breathtaking landscapes, and thrilling adventures. From exploring ancient ruins and monuments to basking on pristine beaches, the excitement of travel is undeniable. However, amidst the excitement, it's crucial to prioritize responsibility and safety, and one essential aspect that is often overlooked is getting travel insurance. This blog post delves into the concept of travel insurance, highlighting its importance and demonstrating how it can transform unexpected mishaps into manageable situations.
What is Health Insurance? A Comprehensive Guide to Benefits, Types, and Importance
With increasing medical expenses, health insurance acts as a safety net to meet our financial needs. Medical inflation is rising exponentially, and health insurance acts as a financial buffer against medical costs that would otherwise leave one's emergency funds and lifetime savings sufficiently depleted. Not just for individuals, but for the entire family, Health insurance is a necessary part of financial planning and should be integrated with investment purchases as soon as one starts earning. The earlier health insurance is planned, the better coverage is assured for individuals at lower premium rates with no medical tests. We will discuss various aspects of health insurance, their benefits, features, types, and how individuals can choose the right health insurance.
Understanding Repo Rate: Definition, Importance, Current Rates & Impact On Home Loans
In the complex world of finance, the repo rate, short for repurchase rate, emerges as a pivotal player in maintaining economic stability. This powerful tool resides within the arsenal of central banks, allowing them to regulate the financial system's liquidity and influence the broader economic landscape. With the help of this blog, let's embark on a journey to understand the intricacies of the repo rate, delving into its definition, functioning, and its profound impact on various stakeholders.
What is Intraday Trading? A Beginner's Guide to Day Trading Stocks
The term Intraday means “within the day”. As the name itself suggests, Intraday Trading refers to the purchasing and selling of stocks within the same day. Also known as day trading, intraday trading aims to capitalize on short-term price movements, leveraging market volatility to generate profits. Intraday trading revolves around the swift execution of trades with the objective of profiting from small price fluctuations. Traders participating in intraday activities typically do not hold positions overnight, minimizing exposure to overnight market risks. Instead, they rely on technical analysis, charts, and real-time market data to make informed decisions throughout the trading day. Intraday traders will look to settle all their positions when the market closes.
Understanding Trading Accounts: Types, Features, and Benefits
Looking to delve into the world of investments? In the dynamic world of finance, investing in the stock market or other financial instruments is a popular means of building wealth. This is where opening a trading account is of help. To partake in these markets, individuals typically utilize a trading account. A trading account serves as the gateway to the realm of buying and selling securities, offering a platform for investors to participate in the financial markets. Now, let us understand in detail what a trading account is, including its features, types, and benefits.
All you need to know about the Senior Citizen Savings Scheme
Old age often brings uncertainty. Senior citizens face questions about their physical, emotional and financial health. The Government of India recognises the importance of financial security for the senior citizens and has started the Senior Citizen Savings Scheme (SCSS). Apart from providing financial security to senior citizens, it is one of the best tax saving options for senior citizens.
Who is eligible for the SCSS?
An Indian resident aged 60 years or above.
Indian resident above 55 years but below 60 years who have retired under the Voluntary Retirement Scheme rules or have appropriate superannuation. Under this, the SCSS account needs to be opened within a month of receipt of retirement benefits.
Retired defence personnel (excluding defence civilians) meeting particular terms and conditions can also avail the scheme on attaining the age of 50 years.
Non-Resident Indians, Person of Indian Origin, and members of a Hindu Undivided Family are not eligible for the SCSS.
Where can one avail the SCSS?
An eligible individual can avail the scheme through a private or public sector bank or the Indian Post Office. Since SCSS is a Central Government scheme, the rules and regulations of the scheme are standard across these institutions.
What is the interest rate on the SCSS?
The interest rate on the SCSS changes every quarter. The amount is calculated and credited every quarter, too. For the last financial quarter of 2019-20 i.e. January- March 2020, the interest rate is 8.6%.
What is the minimum and maximum deposit limits?
Individuals availing the SCSS can make lump sum deposits into their account. The minimum deposit stands at Rs.1000 while the maximum amount is Rs. 15, 00, 000. Any deposit greater than Rs.1000 will have to be made in multiples of Rs.1000.
When will the scheme mature?
The deposited amount matures 5 years after the date of account opening. The account holder can extend the account once, by a period of 3 years. However, the application for maturity extension needs to be made within one year of account maturity.
What is the interest on senior citizen scheme taxability?
There is SCSS tax exemption under Section 80C of the Income Tax Act, 1961. However, SCSS tax benefit is capped at Rs. 1, 50, 000.
In case of interest amounting to more than Rs. 50, 000, for a fiscal year, TDS is applicable starting FY 20-21.
What are the different benefits of the SCSS?
Being a government initiative, the depositor is protected by the facts associated with government schemes. This means, the depositor will not be affected by the economy.
The Senior Citizen Saving Scheme tax benefit serves as a good way of saving money as the SCSS tax is deductible under the Section 80C of the Income Tax Act, 1961.
In case of financial emergencies, the depositor can prematurely withdraw the amount with applicable penalties.
Now that you know how SCSS works, you can understand if it is the best financial option for you.
Analyzing Mutual Fund Performance
Investing in mutual funds is a popular choice for individuals seeking a diversified and professionally managed investment portfolio. Whether you are a seasoned investor or a novice, assessing the performance of your mutual funds is a critical aspect of successful investment management. By analysing the performance of your mutual funds, you can gain valuable insights into the effectiveness of your investment strategy and make informed decisions for your financial future.
Glossary of Mutual Fund Terms
Navigating the world of mutual funds can be daunting, especially for beginners. Understanding the standard terms and concepts associated with mutual funds is crucial for investors to make informed decisions and maximize their investment potential.
How To Calculate Mutual Fund Returns
Investing in mutual funds is a popular choice for individuals looking to grow their wealth over time. However, assessing the performance and profitability of these investments requires a clear understanding of how to calculate mutual fund returns. Mutual fund returns provide valuable insights into the growth or decline of your investment over a specific period. By analyzing these returns, you can evaluate the success of your investment strategy and make informed decisions for future investments. In this article, we will take you through the intricacies of calculating mutual fund returns step-by-step.
How to Invest in Mutual Funds
The asset under management (AUM) of the Indian mutual fund industry has surpassed ₹43 trillion in the past 10 years. Here are some of the factors that have fueled this growth:
Types of Mutual Fund Schemes
Over the past decade, the mutual fund industry in India has made significant progress. The key growth drivers were the entry of new players, changes in regulations that increased the popularity of Systematic Investment Plans (SIPs) and the overwhelming participation of retail investors. As a result, the mutual fund industry's Asset Under Management (AUM) grew about five-fold between May 2013 and May 2023. Furthermore, the total number of SIP accounts as of 31 May 2023 was at 6.53 core.
Complete Guide to Mutual Funds
Mutual funds, in essence, are the democratic soul of the investing world. They cater to the small retail investor looking to dip their toes into the vast ocean of equities, bonds, or other securities, and also to the seasoned player wanting to diversify their portfolio. Managed by professional money managers, these funds aggregate the investments from numerous individuals to buy a wide range of securities.
All about Demat Account Charges & Ways to Reduce Them
Trading and investing in the share market are gaining momentum among Indian investors. While there can be huge gains by investing in the share market, it also comes with certain associated costs. For trading or investing in the share market, you first need to open a demat account with a stockbroker.
Demat Account vs Trading Account: Key Differences
Most investors often come across the terms ‘Demat account’ and ‘Trading account’ and use them interchangeably. These accounts are essential for participating in share trading and investments and are considered largely similar. However, they serve different purposes. Understanding the difference between demat and trading accounts is crucial for investors to effectively manage their securities. Let us understand the difference between demat and trading accounts and determine their purposes.
What are the Benefits of Demat Account?
In 1997, the Indian stock exchanges transitioned to using Demat accounts. Before this, stock and share transactions had to be recorded on paper and completed in person using actual stock certificates.
How To Open Demat Account?
A Demat account (Dematerialised account) is necessary to be able to trade or invest in stocks online. Demat accounts hold the securities and other assets traded on stock markets.
How to Transfer Shares from One Demat Account to Another?
If you are an active investor, you might have wondered ‘Can I transfer shares from one demat account to another? The answer is yes! When you sell securities, you give your shares to another person. However, if you hold multiple demat accounts, then you can transfer your shares from one demat account to another demat account.
Different Types of Demat Account
Different types of specific demat account are suitable for different types of investors. Resident Indians use regular demat accounts while non-resident Indians can choose between repatriable demat accounts and non-repatriable demat accounts.
What is Demat Account?
In 1997, the Indian stock exchanges transitioned to using Demat accounts. Before this, stock and share transactions had to be recorded on paper and completed in person using actual stock certificates.
How to Use a Demat Account
A Demat account is a powerful tool for investors, providing numerous benefits and simplifying the process of holding and trading securities. By eliminating the need for physical share certificates, a Demat account streamlines the management of investments, making it more convenient and secure.
Know What Are the Advantages of Mutual Funds
Mutual funds have become a popular investment option for individuals looking to grow their wealth while minimizing risk. With the advantages they offer, it’s no surprise that the Indian Mutual Fund Industry has witnessed tremendous growth over the years. However, it’s important to understand the basics of mutual funds, who can invest in them, their advantages, and the factors to be considered before investing.
Know the eMandate Meaning, Benefits, Eligibility & Process
In today's digital world, convenience is the key. People are looking for ways to simplify their lives, and technology is playing a significant role in making that happen. One such example is the eMandate, which has revolutionized the way recurring payments are made in India.
Calculating PPF Maturity Amount: Formulas, Compounding & Calculator
With the dual benefits of saving taxes and accumulating retirement funds, PPF remains a preferred savings method. An investor needs to open an account under this scheme to derive these benefits.
Complete Guide to Public Provident Fund (PPF) Account
The "PPF" in full form in banking, stands for Public Provident Fund, a popular long-term savings and investment instrument in India. This government-backed scheme enables individuals to build a secure retirement corpus or meet other financial goals while enjoying tax benefits under Section 80C.
How to Avail Loan Against Your PPF Account
Public Provident Fund (PPF) is a long-term investment with a tenure of 15 years that gives the investor a fixed income that is risk-free and tax-free. The account can be opened with a minimum balance of Rs.500 to a maximum deposit of Rs.1, 50,000 per year. It inculcates the habit of saving and planning for long-term goals. It also has a provision for availing loan against the PPF account investment for the short-term needs of the investor.
PPF Withdrawal Rules & Premature Closure
This article provides detailed information on PPF withdrawal rules. It covers the process of PPF withdrawal online, reasons for withdrawal, how to withdraw the PPF amount, PPF extension on maturity, partial withdrawal rules, and FAQs related to PPF withdrawal. How to Withdraw PPF Amount Online?
Step by Step Guide on How to Open a PPF Account
PPF accounts can be opened at designated banks and post offices across the country, with the option to invest either online or offline. The investment tenure for PPF accounts is 15 years, with the option to extend the term indefinitely in blocks of 5 years after maturity.
How to Transfer Your Existing PPF Account to Bank of Baroda?
Public Provident Fund (PPF) is one of the most popular investment avenues, not only among investors but also among taxpayers. One can invest in PPF through a bank or post office.
Government Schemes for Women Entrepreneurs in India
In India, where there are over 15.7 million women-owned enterprises and women are driving the start-up ecosystem, female entrepreneurship is gaining ground. It is anticipated that during the next five years, this number will rise by 90%. Despite their growing zeal, women entrepreneurs still face a variety of challenges, such as bias against them because of their gender, a lack of funding, and inadequate support. The Indian government has introduced a number of programmes to assist female entrepreneurs in response to these difficulties.
Top Indian Government Schemes to Invest in 2023
The government introduces new investment plans to increase its residents’ income and financial status. These new government schemes are available to everyone who wants to participate, regardless of gender, marital status, socioeconomic status, location, etc. However, it is up to the residents to analyze several plans and select the one that best meets their requirements to maximize their income flow.
What Is Tax Saving Fixed Deposit?
Opening a term deposit to earn interest income is an excellent way to make use of the funds lying in your bank account. But by opting for a tax saving fixed deposit, you can also earn interest income and get a tax benefit. Bank of Baroda’s Baroda Tax Saving Fixed Deposit helps you to save tax while earning income.
TDS on Fixed Deposit Interest
When one receives a payment, the person making the payment must deduct tax before paying. The tax thus deducted is called tax deducted at source (TDS), which the payee has to pay to the central government.
How is Interest on Fixed Deposits Calculated by Banks?
A fixed deposit (FD) is one of the safest investment instruments banks offer customers. It allows customers to invest a certain amount of money for a fixed period safely and securely. However, you may be interested in finding out how to calculate your fixed deposit interest rate. Well, you can use a fixed deposit calculator online for this purpose.
How To Open A Fixed Deposit Account
Time deposits or Term deposits are most commonly known as fixed deposits. Apart from mobilising funds from demand deposits like savings and current accounts, banks also resort to fixed deposits to raise funds. Fixed deposit, like the word suggests, have a fixed duration.
Complete Guide on Fixed Deposit (FD)
In India, fixed deposits (FDs) are considered one of the safest ways to invest one's hard-earned money. FDs are not only easy to begin, but they also offer good returns too. If one's priority is to save money to meet their financial goals without taking risks while receiving guaranteed returns, then investing in an FD is one of the best options.
Fixed Deposit vs Recurring Deposit: Which is the better option?
The process of wealth creation requires discipline. Money must be put away systematically, over a period for wealth to grow. Whether you choose to invest in the stock market, commodities market, mutual funds or even opt for conservative methods of savings such as fixed deposits and recurring deposits; each way of savings comes with its own set of features and benefits. Most people begin with small monthly savings in the form of a recurring deposit, which they convert into a fixed deposit upon maturity. But this is just one way to go about it. In this article, we shall highlight the key differences between fixed deposit and recurring deposits. However, to do so, we need to understand what a fixed and a recurring deposit actually is.
Features and Benefits of Fixed Deposit
A fixed deposit is one of the most popular investment options in India. Several people consider fixed deposits as the best investment option and invest a significant portion of their savings in this instrument. But what is a fixed deposit?
Various Types of Fixed Deposits for Your Investment Needs
Fixed deposits (FD) are among the most popular types of savings and investments. They allow you to earn interest on the amount you deposit for a fixed period. If you do not like to take risks when it comes to investments, you can choose from different types of fixed deposits. FDs are perfect as you can redeem your original amount and interest as soon as they mature.
How to Calculate Recurring Deposit Interest Rate?
A recurring deposit is one of the best ways a small investor can invest funds and grow them. In a recurring deposit, a fixed amount of money is invested at a fixed duration for a fixed period of time. These installments all mature on the same date. Essentially, a recurring deposit is like having multiple fixed deposit investments, all of which mature on the same day.
How to Open a Recurring Deposit Account?
What is RD account is pretty clear but how to open recurring deposit account? For opening an RD account, the investor needs to visit the nearest bank or post office and fill out the application form. Certain basic documents shall be provided like identity documents, address proofs, bank detail etc.
Features and Benefits of Investing in Recurring Deposit
The best way to grow your corpus and begin investing is to put money into an investment regularly. Investments that call for regular installments not only help to build up savings, but they also enforce discipline among the investors. One of the most popular investments that meets the description above is a recurring deposit or RD. Read this handy guide to know what are the features and advantages of RD account.
Different Types of Recurring Deposit
Recurring Deposit (RD) is an easy and convenient way to start regular savings. In this, a fixed amount is deposited every month and earns interest at a predetermined rate. RD can be opened with any Bank, Post Office or NBFC by any person, a senior citizen, a minor above 10 years with a guardian, partnership firms, clubs, associations and NRIs. The rate of interest varies across financial institutions and the tenure ranges from 6 months to 10 years.
A Complete Guide to Recurring Deposit
Recurring Deposit (RD) is a common financial instrument in India since it is low-risk and offers moderate profits guaranteed to be paid out regularly. Customer options for investment quantity and term length are among its many desirable features.
RD vs FD - Difference Between Recurring Deposit and Fixed Deposit
Today, maintaining a bank account has become a norm. You need to provide your bank account number on various occasions; like receiving the salary from employer or subsidy from the government under a scheme. And most people open either fixed deposits or recurring deposits.
Premature Withdrawal of Fixed Deposit: Penalty Charges & Alternative Options
Most savers like to earn some income passively over and above their regular income flow. Fixed deposits offer them a diversification route for investing their savings. When a saver invests in a fixed deposit, they earn a guaranteed income over a fixed term of the investment. Fixed deposits, also known as term deposits, are suitable for both; working professionals and retired senior citizens. Fixed deposits range in tenor from 7 days and go all the way up to 10 years. The interest rate offered by different banks and financial institutions varies according to the tenor as well as the credit rating of the bank. Each bank has its own terms and conditions for offering fixed deposits to the members of the public.
NPS Returns - Everything You Need to Know
Every person wants to live with financial liberty without compromising their standard of living during the advancing years and it is possible with a pension scheme. With a mission to provide social security to every old age Indian citizen, the Government of India started the National Pension System that allows one to voluntarily invest, accumulate savings and get a lump sum amount in a form of regular income through an annuity plan on retirement.
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