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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.

Understanding Credit Cards

A flexible and convenient option, credit cards are easy to carry and they allow you to buy now and pay later. With a growing awareness of plastic money, a large number of users choose to carry a card instead of cash. If used carefully, there are plenty of advantages of using a credit card. Many believe that it leads to a debt burden, which is not always true. The card should be used rationally and the repayments must be made on time. There are several factors, which must be considered when using the cards. Choosing a card Depending on the requirement...
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How to Pick a Mutual Fund Scheme

Investing in mutual funds has become something as simple as grocery shopping. However, picking the right type of mutual fund is essential if you want to achieve your financial goals. There are a variety of mutual funds available in the market, hence picking the right one can often be confusing. You can choose to invest in a mutual fund as a lump sum or choose an MF systematic investment plan. The right type of mutual fund is not always the one that gives you the highest returns. When it comes to investing in mutual funds, you need to consider a variety...
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How Should You Pay Income Tax?

The Government of India levies two types of taxes—indirect tax and direct tax. As the name suggests, direct taxes are paid by the taxpayer directly to the government. One such type of direct tax is income tax. Income tax is regulated by the Income Tax Act, 1961, and includes income received from salary, income from profession/business, property/house, capital gains, and income from other sources. It is important to have an understanding of the income tax slabs of 2017-18, the various methods of tax payment, as well as the varying income tax rates that taxpayers are subjected to. Following are four mechanisms...
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Payment Bank Accounts v/s Zero Balance Savings Accounts from Banks – Who Will Win?

The recent launch of the Paytm Payments Bank has brought payment banks (PBs) in the spotlight. Earlier in 2017, three other PBs – Airtel Payments Bank, India Post Payments Bank, and Fino Payments Bank became operational and the fifth PB, Jio Payments Bank is expected to launch soon. Payment Banks Unlike regular banks, PBs are allowed to only accept deposits and remittances. These banks are not allowed to offer loans to its customers. Furthermore, traditional banks take a lot of time to open an account due to the cumbersome documents and other requirements. PBs are technically driven, which ensures the opening...
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Is Personal Loan Preferred Over Car Loan for Buying a Car?

There are all sorts of financing options available in the market today that can help you achieve your dreams and desires. The challenge is to identify the ones that you are eligible to avail and of those the one that is the most economical for you. Car manufacturers offer various models priced differently. This makes it easier for you to own a car. Furthermore, the easy availability of car loans has increased in the number of four-wheelers on the road. When you are choosing a financing option, you have the choice of a personal or a car loan. Both these options...
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What Makes Flexible Personal Loan a Preferred Option Over Regular Personal Loan?

The millennial generation faces difficulties in living a fulfilling live and financial management simultaneously. You may desire to own everything to satisfy all your needs; however, you may not have the required funds. Even if you plan your finances well, keeping crises away is not always possible. As the country moves towards a cashless economy, having idle funds to meet emergencies is not a good idea. Personal loans are beneficial and an efficient solution to meet all your fund requirements. You may use the money for any purpose, such as home renovation, meet wedding expenses, take a vacation, or consolidate your...
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Financial Tips for the Newly Married

Your marriage is probably the first most important life event for which you may start saving. It marks a new beginning for a lot of things; new spending habits and new savings targets. Here are five financial tips if you are newly married. Discuss your finances It is imperative that you share all the financial commitments and mutually prioritize them. You must gain a clear understanding of your total income, expenses, and liabilities. Here is how to achieve this. Get a comprehensive and clear picture of the current and future total income Work on clearing the loans, if any, at the...
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Why I can’t wait to retire!

True or false? On a really hectic workday when nothing seems to go your way, you must have secretly counted the number of days left until your retirement party. If you did, you are not alone. Work can be quite rewarding but it can also be very demanding. And retirement can be the long holiday you always wanted to take. Retirement can be amazing There can be nothing as peaceful as you sat in a park with a book in your hand and the soft sun rays kissing the top of your head. No deadlines, no meetings and no clients to...
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Tips to Use Credit Card Wisely

Many people are wary of using credit cards as they fear debt. The bad reputation of credit cards is solely due to its mismanagement. If used wisely, credit cards can be a great means to earn generous rewards and improve your credit score. Follow these tips and make the most out of your credit cards. Pay Off the Credit Balance Each Month Paying off your credit cards bills on time is the golden rule of credit card usage. If you miss the stipulated deadline for payment, you will have to deal with hefty interests. For that reason, if you are earning...
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SIP Investments Make the Most Sense in the Current Market Scenario

If you are not well-versed with stock market investing, you may be wary of the high risks. It is also possible that you may know the stocks you want to buy but are unsure about the quantity. The inherent risk of adverse price movements is prevalent in the stock market. You may be wondering how to protect yourself against such risks. One way to do this is to invest in equity mutual funds. However, mutual funds attract fund management charges. Over a long period, these charges may be a huge amount. All the aforementioned challenges may be overcome through systematic investment...
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