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Finance Forum India

Share your thoughts on finance education, economic developments, capital markets movements or your professional experience in the field of finance.

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Rachita Kotian is an independent blogger and writing has been her passion for a long time. A literature major, she loves exploring the world of health, lifestyle, travel and finance. When she’s not writing, she’s most likely listening to music, cooking, surfing the web, or catching up on the latest flick.

Reasons to Opt for a Zero Balance Savings Account

In order to cater to individual needs and requirements, banks offer a variety of customized account options. The good news is that banks provide the benefit of zero- balance account to those who do not wish to maintain a minimum balance. As the name suggests, a zero-balance savings account does not require a Monthly Average Balance (MAB) to be maintained. This means you need not pay a penalty for not having a minimum balance, as is the case with a regular savings account. A zero-balance bank account offers a host of features and advantages. You may open such an account and...
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Why You Must Take A Term Insurance Before You Are 30?

5 Reasons Why You Must Buy Term Plan Before Turning 30   Life is unpredictable. One minute everything is going well and things are under your control. The next minute, you realize everything is slipping through your fingers. Well, there isn’t much you can do to change the strange ways of life, but you can surely be prepared for the future and do everything possible to keep your loved ones protected.   Term insurance can be your best choice, if you want to give your family the security they deserve. Generally, people plan on buying term insurance at a later stage...
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Top Myths about Home Loans Busted

We love to read and gather as much as we humanly can before investing in anything. It is not surprising that this becomes ten times more intense when we are planning to buy a house. After all, have we not been thinking of our dream home since a really long time? But you must be sure of one thing. Not all that you read is true. Every material you read will have some points that they will try to sell as facts but in reality, they might not be applicable or possible at all. Same goes for home loans and some...
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Common Mistakes to Avoid While Investing in an SIP

There are numerous investment products available in the market, Systematic Investment Plan being a popular option. A Systematic Investment Plan involves investing a small amount every month on a pre-determined date into specific mutual funds. The main goal of such an investment vehicle is to accumulate a huge corpus by investing small amount of money on a monthly basis. There are numerous advantages of investing in Systematic Investment Plans (SIPs). You may send a one-time instruction for an auto debit every month, thus eliminating the possibility of missing out on a monthly payment. This provides you with a high degree of...
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Emerging Technologies in Digital Banking

Today society and technology are evolving faster than the adaptation capabilities of the organizations. The emergence of cloud, social, Internet of Things (IoT), analytics, and mobile offer valuable data sources, which enable companies to interpret information efficiently at lower costs. Technology has pervaded the financial sector and brought in digital banking capabilities. The government and the Reserve Bank of India (RBI) took certain initiatives to increase the use of digital banking during the 2000s. The decreasing costs and more awareness have increased its usage. Online banking improves customer satisfaction by delivering ‘anytime anywhere’ services. Banks are able to reduce costs and...
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Different Ways to Wisely Use Your Credit Cards

Credit cards are secure and reliable and an important financial tool in today’s age. When you use the card responsibly, it is beneficial for your credit score. A higher score increases the possibility of availing a home or auto loan at a competitive rate of interest. When you use your card to make a payment, you need to remember that you need to pay this amount. If you do not pay the full bill amount, the card provider levies interest charges. To ensure efficient management of your money, you must know how to use your card wisely. Here are five tips...
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LumpSum vs. SIP - Which Investment Gives better Returns

Opting for mutual funds (MFs) gives you the opportunity to invest in the capital markets while reducing your risks. However, you may want to know whether investing a lump sum or opting for a systematic investment plan (SIP) is a better option. If you are a disciplined investor, both these options are advantageous. When you invest your capital as a lump sum, you are able to build wealth over a longer period of time. The power of compounding gives you the opportunity to enjoy capital growth in the long-term. On the other hand, SIPs provide averaging cost opportunities. Under such options,...
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Can You Drive In America With An International License?

Image result for international driving license usa  Going to America for a month-long official trip? Want to drive around the country to explore its diverse sights? Planning to visit relatives in the United States of America and travelling along the coast with them in a car? All the three questions lead to exciting opportunities, especially if you love to travel and drive a car. Just as you need a Driving License to drive a vehicle in India, you need an International Driving License to drive a four-wheeler in America. Read ahead to know details about availing an International Driving License.   What is an International Driving License?...
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Transferring Your Vehicle's Ownership Made Easy!

Image result for Vehicle Ownership One of the most important steps in selling or buying a vehicle is getting the ownership transferred in the name of the new owner. Without this, the process of selling a vehicle is not complete. If you are looking for information on transferring a vehicle, you are on the right page. Here are the documents you will need for the transfer of ownership: Documents Required for the Transfer of Ownership Form 29: This form is to notify the authorities about the transfer of ownership between the buyer and seller. This is the RTO application form for transferring the ownership. Form...
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10 Basic Traffic Tips for Beginners

Image result for traffic tips     The excitement of learning to drive and acquiring a driving license can vanish quickly if a new driver is repeatedly caught by the traffic police. To avoid this, here are 10 most basic traffic tips for new drivers: #1 Documents Many new drivers are not aware about which documents are to be carried along while driving. Only when they are stopped by a traffic police officer, they realize that it is necessary to carry other documents along with the driving license.   To drive a car anywhere in India, a driver needs to carry the driving license, Pollution...
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