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How Can a Credit Card Help Improving Your Credit Score?

The self-employed do not have it so easy. But many banks these days offer credit cards against a fixed deposit.  The credit limit is often the same or little lesser than the fixed deposit.  You could also opt for a prepaid credit card. When you repay the outstanding against these cards, the same is reflected on your credit history and the result is increasing credit score.

2 weeks agoRead More
Personal loan for home loan down payment

Though most builders or sellers will give you time to arrange for a home loan or any other way to pay the money in full, they will look for that commitment from the buyer. This down payment will not be a small amount which is to make sure the buyer commits to the deal.

3 weeks agoRead More
Why is it better to use a credit card while shopping online?

E-commerce has grown leaps and bounds in India where people across the country have taken a liking to ordering online and getting it delivered to their home within just a day.

3 weeks agoRead More
Part 5: 10 golden rules of investing in stock markets

we know you are excited to try out your hand in the stock market. As the last part of our series here are 10 golden rules you need to remember while trading

4 weeks agoRead More
Are Debt Mutual Funds Risky?

Debt Mutual fund is a financial instrument to invest in fixed income securities, treasury bills, Government and corporate bonds, Money market etc. These funds can be open ended or closed type and the returns comprise interest income and capital appreciation or depreciation in case the market conditions are unstable.

4 weeks agoRead More
What are the different type of stocks - Part 4

Whenever anyone talks about shares, what they are really talking about is common stocks. These are the basic stock that is available in the market providing equity to the buyer granting ownership in a company and a claim on a portion of the company’s net profits. Common stockholders also have the right to elect the board members of the company. These stocks will not provide any fixed income in the form of dividends as it is not mandatory for the company to pay dividends. Instead the buyer can sell the stocks for higher prices than what they bought it for making profits.

4 weeks agoRead More
Step-up home loans: The pros and cons

Buying a home is a dream that many hold on to since their childhood. But as we grow we understand the cost of buying a home and salary we have might not match and that we need to save a lot before you get the ability to buy a home.

1 month agoRead More
No credit score? Fret not! You can still get credit

Close to a million Indians join the workforce every year, not all are lucky to get jobs; but even those who do, run the risk of getting rejected on loans and credit cards due to a lack of information on credit score. Statistics say that 50% of the loan applications get rejected due to lack of credit score.

1 month agoRead More
10 Tax Deductions That Are Lesser Known to You

Are you one of them who rush into gathering resources in the last-minute to save tax? Often, many fail to plan their tax deduction and still many are not aware of the investments and expenses that can be claimed for tax deductions under various sections of the income tax act. To help you out, we have compiled 10 most overlooked tax deductions that can fetch you tax benefits.

1 month agoRead More
Know Your Income Tax Rates: Income Tax Slabs

With the financial year for 2017-18 just ending, you might have just declared your finances in your company for tax deductions. It is now time to declare your investments for the coming year. By knowing the tax rates, you can make sound financial investments that will give you the best returns and tax benefits.

1 month agoRead More
Why is my credit score low?

In India, banks consider a score of 700 and above a good credit score. The ideal score is one above 750. So, if you are looking to negotiate good terms on your loan it is best to have a score above 750. On the other hand, any score below 650 would attract a higher interest rate. Banks will take a stand and not negotiate to reduce the interest rate.

1 month agoRead More
Got Your First Salary? Time to plan your financials better

Many people wish to buy a car or two-wheeler once they secure a job. Though it is a necessity, investing in a depreciating asset or liability would bring additional expenses to you. There are lot of investment options that keep growing and all you may have to do is invest a minor part of your income into it. Make a thorough research and invest smartly to enjoy the benefits abundantly.

1 month agoRead More
Fixed Deposit Interest Rates have been hiked! What does it mean to you

While it is good news for those looking for fixed deposits to be a short-term investment option, others might not be so lucky, it is widely expected that the lending rates too would go up, especially those with home loans would be required to pay more in the form of EMIs. The increase in the lending rate is to tighten the liquidity in the market.

1 month agoRead More
How Much Life Insurance Do You Really Need?

Your life insurance policy should cover minimum and basic expenses of your family. Your dependents life should not significantly alter in your absence. If you are spending INR 15,000 per month for your family, your insurance should make sure that your family is able to get the same amount after your death. If necessary, a little extra amount should be taken to adjust for inflation.

2 months agoRead More
3 Ways in which you can get a credit card without credit history

Most lenders offer credit cards against a fixed deposit account. You will be allotted up to 75% of value of the fixed deposit as credit limit on your card. Later on, with judicious usage and consistent bill payment, you can step up your credit limit. But when you default on your payment, the lender will use the fixed deposit as the security. The secured credit cards on regular and prudent use would help the user build up considerable credit history for the future.

2 months agoRead More
What Are the Different Types of Mutual Funds?

To invest in the right mutual fund scheme, one must have the perception of the types of mutual funds available and which are risky and low-risk profile funds. They can be classified into various categories based on structure, assets and investment objective.

2 months agoRead More
7 Things to Keep in Mind Before Buying a Health Insurance

The importance of buying a health insurance policy has not been understood by many in India as people have not considered it seriously except that it can save taxes. A sudden illness or unforeseen medical treatment could shatter your finances and leave you debt ridden. A financial trouble over a health trouble is really too much to bear for anyone with a moderate monthly income. Hence buying a health insurance policy at an early age could lessen your worries on healthcare at old age and offer you a peace of mind.

2 months agoRead More
5 Important Tips for a Successful Business Loan Application

Most successful businesspersons were not born rich. They all started small and acted smartly in their endeavour to become successful. Many people try to achieve success in their business, but due to multiple reasons, they may have dropped their ambition in the mid-way. Not getting a business loan could be one of the reasons for a setback in the business career.

2 months agoRead More
Fixed Vs Floating Rates - Which One To Choose?

Buying a home is a major financial decision that most people will make. Being a very big investment, most people cannot pay the full cost of a home in a single payment. This is where a home loan comes in, it gives the buyer the ability to buy their dream home for which the borrower will repay the loan and interest in Equated Monthly Installments. It is when choosing the interest rate that the dilemma comes in – to choose fixed rate or floating rates.

2 months agoRead More
Understanding Your Credit Utilization Rate and How to Improve It

When you continuously use your credit limit to maximum it shows that you do not have a grip on your finances. Your credit limit upon your monthly utilization of your credit card is called credit utilization ratio . If you max out your credit card it will have negative effects on your credit score.

2 months agoRead More