Standing where we currently are both economically and sociologically, it is perhaps a little redundant to talk about the benefits that health insurance policies can bring for an individual. By now, most of us know why we should have a comprehensive healthcare policy in place.
Tag: personal finance
All of us do not understand the importance of investments unless someone explains it to us why it is essential. Young professionals mostly spend most of what they earn, and save absolutely nothing. This is what most parents nag about every month, if their child makes and keeps nothing.
Liquidity is an important aspect of one’s personal finances. Is bank savings account the best way to maintain liquidity? No, there are better ways of managing liquidity. We can here mention about liquid funds.
Liquid Fund is a kind of mutual funds which invest your money in money market instruments such as a certificate of deposits, commercial paper, and Treasury bills, with a residual maturity of up to 91 days. Continue reading “Know the Working of Your Liquid Funds”
With growing awareness about Mutual Funds, What is SIP is a very common question asked by those who are new to mutual funds. Simply speaking, SIP is a method of investing a fixed amount, regularly – weekly, monthly, quarterly or annually in a mutual fund scheme. SIP allows you to buy the units of your chosen scheme on a date/s chosen by you. You can invest a fixed amount in a chosen scheme every week, month or quarter, depending on your convenience through ECS (auto-debit from your bank account) facility or through post-dated cheques. Continue reading “What is SIP – All about SIP and SIP Calculator”
Recently SBI slashed interest rates and introduced a two-tier interest system for savings accounts, whereby savings accounts with less than 1 crore deposits will incur just 3.5% (this is a drop from 4%, which is the continued rate for deposits over 1 crore) The reason given behind the change was that, a decline in Inflation must be met with a corresponding decline in the savings rate. Continue reading “Make your Money work in your Interest”
Of all the inventions that truly revolutionised modern life, the Internet surely ranks as one of the top contenders. Combined with automation workflows powered by analytics in the backend, technology has revolutionized the banking experience for all customers, especially those with NRI accounts and FCNR accounts, which are less accessible physically. Banking today is less of a financial business and more of a technology business, and no wonder, the focus of investors is so high in the Fintech industry. Continue reading “The internet has revolutionized digital banking for individuals”
Launched recently, a few months back, based on RBI guidelines, the Unified Payments Interface (UPI) offers an architecture and a set API standards to facilitate online payments more securely. The central UPI platform is developed and managed by the National Payments Corporation of India, which also manages other digital payment mechanisms like retail clearing platforms such as Immediate Payment Service (IMPS), National Automated Clearing House (NACH) and Cheque Truncation System (CTS). The move towards promoting UPI aims to simplify and provide a single interface across all NPCI systems so that they can facilitate seamless data interchange thereby facilitating superior user experiences across stakeholders like customers, service intermediaries and service providers. Continue reading “The Future of Digital Banking lies on UPI”
Meaning of Life Insurance
Life insurance is a protection against financial loss that would result from the premature death of an insured person. The named beneficiary or nominee receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured. Continue reading “What is Life Insurance and what are Life Insurance Tax benefits”
4 simple tips will get you the best home loan product. Try them today!
It has become imperative, in today’s times, to take a home loan if one wants to buy a house. The cost of real estate has escalated tremendously over the last decade, and most buyers are unable to fund the purchase unless they take a home loan. Continue reading “How to get the best home loan”
Your first income opens a gateway to financial independence. But how you map your finances from there on will decide the course of your life.
One’s first salary is a watershed moment in one’s life. It may be a paltry sum or a handsome one, but one is never going to forget it for as long as one lives.
In many ways, the first salary marks a significant departure from when one is a youngster, to the point where one is considered a ‘grown up’. It is a moment when one steps into the world as an earning member of society that can pay expenses and become responsible for themselves. If the salary is high enough, the person may even begin to shoulder the responsibilities of the household. Continue reading “Your first salary is your stepping stone to a stable financial future”
The principal factor of tech debt metaphor is that there are some prices you have to pay when you take shortcuts or intentional tech debts or make any mistakes or unintentional tech debts. It is also said that this cost would increase over time as long as you ignore tech debt and do not repay the interest. Tech debts are often overlooked and ignored as there is no apparent cost factor related to it as is with any financial debt where you can know the cost of your monthly payment and what it would sum up to if you delay in repayment. Therefore, it is required to quantify tech debt to know how much it costs you and your company. Continue reading “Know How Much Tech Debt Is Really Costing You”
Tech debt, which is inevitable for a software engineering and development business, is not just the responsibility of the business owner to regulate, control and address, but it is a team effort off all the staff of the business including the stakeholders. There are some specific actions which are meant for the stakeholders. When such actions are taken, it would effectively reduce tech debt and result in the proper functioning of the codes as well as the survival of the business on the whole. Now, there are several categories of the stakeholders, and every type has their specific role towards addressing tech debt and keeping it to the minimum. Continue reading “Responsibilities Of Stakeholders In Reducing Tech Debt”
To be frank, wealth management is beyond the scope of dummies. It needs to be well understood so that your future is safe. Wealth management entails a highly technical, professional and individualised service that combines financial and investment advice, accounting and tax services, and any other related financial advise for a set fee payable to an individual or institution. One who decides to venture into the domain must have a formal training background like CA, Costing or CFA holder.
Customer service is playing an important role in the BSFI sector. Some of the service orientation is introduced in BFSI through extensive customer relationship management systems and advanced analytics. These systems appear at the background and facilitate the front end service providers to deliver a personally crafted service experience based on needs. If one walks into any bank today, tellers and personal bankers provide an extensive service orientation and help the customer feel empowered into making any decision. Further personal bankers these days help the customers through processes of onboarding, engagement, problem redressals and discovery. Continue reading “Buying Insurance Online is now Simpler – Click to Insure”
Ever since liberalization in the early 1990s, life insurance in India has seen significant growth. Between April 2015 and February 2016, new premium income of Rs. 1.072 trillion (US $ 15.75 billion) was recorded in the country, at a growth rate of 18.3%. Till the end of February 2016, growth of 14.1% was seen in gross direct premium at Rs. 864.2 billion. Continue reading “Changing Life Insurance Trends in India”