You might have received Whatsapp forward or read somewhere on social media about a new proposed Financial Resolution and Deposit Insurance Bill (FRDI) which has a “Bail-in” clause where in case of bank failure, depositors money like fixed deposits, savings bank account, etc can be used to absorb bank losses. This is just a proposed bill […] Continue reading →
We live in an uncertain world and emergencies can arise anytime. It could be due to sudden illness, a car breakdown, an emergency trip, emergency purchase, home/appliances repair, delayed salary or job loss. We need to be prepared for the same at least financially. How much Emergency Fund you need? Ask any financial planner and […] Continue reading →
Taxation plays a very important role in the returns generated by your investment and so you should know how the investment is taxed before you choose one. We list down the most common investments and how they are taxed? Fixed Income/Debt Investments: 1. Saving Bank Account: Interest earned in Saving bank account up to Rs […] Continue reading →
Form 15G and Form 15H are self-declaration forms which can be submitted to banks and other institutions to avoid Tax deduction at source (TDS) by banks on fixed and recurring deposit. The good news is now most big banks like SBI, ICICI, HDFC, Axis bank etc allow depositors to submit Form 15G or Form 15H […] Continue reading →
Form 15G and Form 15H are self-declaration forms which can be submitted to banks and other institutions to avoid Tax deduction at source (TDS) by banks on fixed and recurring deposit. The post covers the following: Who is eligible to submit Form 15G and Form 15H? Where can Form 15G/H be used? Step by Step […] Continue reading →
Whenever we reach close to goals, it’s always recommended to shift the investment from risky avenues to safer options. In this post we talk about which is the best option to park your money if you investment horizon is less than 6 months. Where to Park Money for Very Short Term? You can choose to park […] Continue reading →
ICICI Bank, Union Bank of India and Punjab National Bank (PNB) have been the latest to cut their interest on savings account. A few days back Yes Bank, Axis Bank, HDFC Bank, Indian Bank, Karnataka Bank and Bank of Baroda had already reduced their interest rates. This all started with SBI slashing interest rates on […] Continue reading →
SBI (State Bank of India), India’s largest bank has cut the interest rate offered on Savings bank Account form 4% to 3.5% for deposits below Rs 1 crore effective July 31, 2017. For account balance above Rs 1 crore the interest rate is still 4%. SBI said the move was prompted by decline in the […] Continue reading →
In last few weeks you might have received tons of SMS, emails, automated voice calls and personal calls from bank staff to link your aadhaar number to your bank account. Though the automated communication does not mention it’s mandatory but talk to any bank staff and they would say – in case you DO NOT […] Continue reading →