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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.

COMPARING PERSONAL LOANS AND CREDIT CARD LOANS

All of us would like to be in a position such that we never have to go into debt or borrow any money at all. However, that is often not the case. We need to take out loans for a variety of purposes, be it paying for education, a vacation, a wedding, home renovation, etc. Some of them require a large loan amount, and some of them require a smaller loan amount on an immediate basis.   When thinking on loans, most people immediately look at personal loans. It’s true that you can get a personal loan to pay for a...
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Importance of Cardiac Care and Cancer Care Insurance

If you are planning to buy a health insurance plan, heart and cancer insurance plans are worth considering. The past few decades have witnessed a rapid increase in heart ailments and cancer, which are largely attributed to one’s lifestyle. As per latest statistical estimates, the prevalence of lifestyle diseases in India is increasing rapidly. One out of four Indians is at the risk of developing cardiovascular ailments or cancer before the age of 70. Given the high incidences of cardiac ailments and cancer, cardiac and cancer care insurance have emerged into the spotlight. The treatments costs for cancer and heart disease...
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Things to Keep in Mind While Buying Health Insurance for Parents

Mr. Suresh Iyer, a 29-year old working professional, covered his parents under a health insurance plan. One year into the policy, his father suffered from a medical ailment, which required hospitalization. The medical expenses amounted to INR 2.25 lakh. Given that Mr. Suresh's father was covered, Mr. Suresh did not have to make any out-of-pocket medical expenses. His father, therefore, received quality treatment without worrying about arranging for finance. Like Mr. Suresh, you too may cover your parents under a mediclaim policy. There are numerous providers, who offer health insurance for parents. Such a plan helps to combat rising medical inflation...
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Start An SIP Today TO Free Your Child From Getting An Education Loan In The Future

Your children have a better opportunity to seek higher education in several foreign and domestic universities. Parents must start saving for their children’s education early to ensure they have the required corpus to meet the expenses. However, saving for your children’s education must not mean ignoring other goals, such as your retirement. You must differentiate between short-term and long-term goals. An important long-term goal is retirement and you must never compromise on saving for it. This is because any shortfall towards paying for your children’s education may be funded through a loan. However, any shortfall in your retirement corpus is not...
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An Ivy League is Not Financially Out of League with Proper Mutual Fund Investment

For an average Indian household, children’s education continues to be one of the biggest expenses. Education costs are constantly rising and planning for this outflow is very important. Lifestyle inflation also affects the cost of your child’s education. As living standards become higher, parents want to send their children to the best institutions. Furthermore, children grow up in a certain atmosphere and do not want to attend government institutes that do not offer the latest and best technologies. In this situation, financial planning is crucial to ensure your child’s education is not compromised. You may be able to build the required...
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Stop Envying Your Rich Friend & Start Getting Richer

So your friend's recently struck gold. You notice the swanky new pad, flashy new car, well-heeled attire and the works. You know you should feel happy for him that he's risen through the ranks, but somehow you feel a tinge of envy. So, then how do you resolve this predicament? A way to transform this niggling envy is to make it work for you. And how do you do that? Use it as a fuel for learning more on the right kind of investments. Don't let differing levels of income come in the way of your friendship. Make it ring, ka-ching...
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Are Long-Term Taxes on Mutual Funds Going to be Introduced in the Next Fiscal Budget?

There are only a few weeks left before the announcement of the fiscal budget. Market participants are now looking for possible changes that may be announced, which would affect their investment decisions.    Some market participants anticipate modifications to Long-Term Capital Gains (LTCG) tax on equities. This is to cover the reduction of revenues due to the implementation of the Goods and Services Tax (GST).    Several analysts believe that the implementation of LTCG on equities may prevent investors from investing in this asset class. In addition to retail investors, LTCG on equities may deter institutional investors from investing. Such investors have pumped in...
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Are Tax Exemptions Being Bumped up to INR 2 lakh in the Budget 2018?

To boost savings among the Indian population, Finance Minister Arun Jaitley may be contemplating increasing the tax exemptions according to section 80C falling under the Income Tax Act to INR 2 lakh. Currently, the maximum limit under this section is INR 1.5 lakh per annum. There are several investment options eligible for tax deductions as per section 80C. Some of these include Public Provident Fund (PPF), National Pension System (NPS), National Savings Certificate (NSC), tax-saving fixed deposits (FDs), Equity-Linked Savings Schemes (ELSS), and many more. How will the increased limit affect investors? The primary aim to enhance the section 80C limit...
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Five Benefits of an Online Savings Account

Visiting a bank in India is often a hassle because you have to contend with long queues, apathetic officers, stifling heat and slow service. In the past, people had no choice but to put up with all this, if they wanted banking services. But not anymore. Now, you have the option of online banking. Online banking is not only safe, but also convenient and efficient. You can quickly open a savings account online. All you need is a few documents and a fast internet connection. There are so many benefits to operating an online savings account, it is a puzzle why...
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How to Boost Your Life Insurance with Rider Covers?

When it comes to life insurance, the more the coverage the better. Buying a life insurance plan for the sake of it does not guarantee protection against unforeseen risks. The basic idea of a life insurance policy is to offer an income replacement to the beneficiaries in case of the death of the policyholder. However, there might be cases where the policyholder becomes disabled due to an accident and is unable to earn. In such a scenario, a simple life insurance policy may not be able to help you. This is where policy riders come into the picture. Although policy riders...
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