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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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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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This Children’s Day, be a responsible parent

Children’s Day is that day of the year when your house ebbs with joyous laughter. For this is when your children wait with bated breath to be laden with gifts. And when the gifts find themselves on their laps, you see their eyes glint with excitement. But, that joy can be short-lived. All the love you bestowed on them during their growing years may come to nought if you don’t start investing for your children’s future. They might even blame you for being unable to chase your dream. So, this year, instead of looking for the best deals on the internet...
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Things you need to know about a Savings Account

Savings account It is common knowledge that a savings account is a bank account wherein you can keep your savings. While this is true, there are many more aspects to a savings account. This article explores all the important things you need to know about a savings account. Before you delve into the details about a savings account it is important to understand the basics first. What is a savings account? A Savings account is bank accounts that hold your savings and provides a moderate rate of interest. Whatever money you want to save besides your daily expenses, can be deposited...
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Savings rate has been slashed - what now?!

Imagine the fate of your favourite team if the best player underperforms consistently?  This is what happens when you keep your money in a savings account.  It gets worse when banks lower their interest rates further like they did recently by slashing it to as low as 3%.  Stashing money in a savings account is similar to the best player suffering a long injury layoff.  The next question that arises is: What now? Will the team merely go through the motions and continue to languish in the doldrums, or will they explore other options?  If you are the proactive sorts, you...
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