RBI on September 2015 had granted licence to 10 Small Finance Banks. Lately these banks have been in news for offering higher interest rates on their fixed deposits as compared to regular banks. In this post we would tell you whats on offer by small banks and if you should invest and bank with them! […] Continue reading →
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 →
Life has become a lot more convenient with the new age banking but this convenience comes with a lot costs in terms of hidden charges. Below is the list of such charges which you might not know 1. Non Maintenance of Monthly/Quarterly Average Balance: Almost all banks insist on maintaining monthly/quarterly average balance. In case […] 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 →
SBI has made a very significant change in its Saving Account Interest Rate for balance of more than Rs 1 Lakh. It has linked the saving account interest rate and short-term loans to RBI Repo Rate. 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 →
Missed Call banking is NEW service being offered by banks in which you can give missed call on pre-defined numbers to know your account balance or get mini statement through SMS. The good thing about this service is its FREE and you can access basic account details without having internet or going to ATM/bank. How […] Continue reading →
As of today most banks like SBI, ICICI Bank, Union Bank of India, Punjab National Bank (PNB) offer 3.5% interest on their saving bank account. This all started with SBI slashing interest rates on savings account to 3.5% on July 31, 2017 for balance less than Rs 50 Lakh. Reserve Bank of India (RBI) had deregulated the […] 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 →