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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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Best Investment Plans For Salaried Individuals

Young individuals in their early 20s generally do not consider financial planning as one of their most important priorities. However, the biggest advantage of investing early is to enjoy the benefits of compounding. This means you earn returns on the capital as well as the profits, which enables higher wealth creation. Several youngsters are confused between investments, insurance, mediclaim policy and savings. Investing includes purchasing financial products that offer future returns. On the other hand, savings refer to retaining a certain amount of money in avenues like a bank account. When you save money, you do not expect to make as...
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Tata Capital Used Car Loans – When You Want More Dash, For Way Less Cash.

Vishal Mhatre was a 29-year old marketing executive who’d moved to Mumbai from Nagpur in 2009 when he landed a plum job with a leading corporate. He loved the on-job learnings, and the buzz of Mumbai, but what he didn’t factor was the sheer enormity of day-to-day living- the exorbitant rents, the insane commute times, the traffic, the expenses on entertaining oneself… etc. etc. To bring some order to his expectations vs. income, he did the following things: -          Rented a shared accommodation in Andheri, a far-off, but accessibly-priced option in comparison to localities near his office. -          Started commuting by...
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5 Factors You Must Take Into Consideration before Expanding Your Business

  Rita was happy with the way wedding planning business was performing. But after doing the same thing for seven years, she wanted to bring some changes into her business. This is when she decided to expand. Her new plan included catering to more areas of the cityas well as high-budget weddings. She also wanted to getmore creative decorations to attract more customers. This meant hiring more people as well as other down payments. While her profits were more than enough to cover this, a good friend suggested that she opt for a business loan. This decision paid off because three...
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Why you should separate your business credit from personal credit

  Ramesh, a promising young entrepreneur, needed a loan for his business. He had a good personal credit history. His borrowings were few and he had a timely repayment record. He wished to use his strong credit history to get a low-interest individual loan for his business. So, he consulted Sunil, a seasoned businessman with a great understanding of finance. Sunil advised him to keep his business and personal credit separate. Sole business owners often make the mistake of taking individual loans for their business. But combining business and personal credit can be a problem. It can jeopardise your financial health...
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Goods and Services Tax (GST) - Things to know and its Benefits

Likely to bring in significant change in doing business in India, the Government is committed to introduce GST by April 2017. Advocacy for best practices, gearing up for changes in processes, training teams and developing IT systems for being GST compliant are the key areas being assessed. In order to prepare for the implementation of GST, companies need to understand GST policy development and its implications for scenario planning and transition roadmap preparation. Tax payers need to be GST compliant to be able to test system changes in time. Depending on the operating geographies, size and sector, the changes that the...
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Some Tips to Prepay your Home Loan Faster

You might have taken a home loan and are already paying your EMIs diligently. But its possible that you would want to close your loan as soon as possible. So how should you go about managing your home loan so that you are able to repay it quickly and without compromising on other things? We share some tips to help you prepay your loans quickly. Increase your EMIs with Income Increases Suppose your EMI at the start of loan was Rs 25,000. And the salary at the same time was Rs 75,000. Now after few years say 3-4 years your salary...
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Some tips to avoid rejection of your home loan application

You have shortlisted the house that you want to buy. You have arranged the down-payment that you would be required to pay. Now you applied for the home loan. But the lender has rejected your application. This can come as a big shock to anyone who is at the receiving end. Hence it is necessary to understand why lenders reject home loan application even though borrower has most things in his or her favor. One of the biggest reasons is the mismatch between Income and credit score. A high credit score is no guarantee of getting a home loan. Your income...
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Six Things about Home Loan Tax Benefits that are not Commonly Known

The year 2016 is expected to be beneficial for home buyers. Additional tax benefits, reduced interest rates, stationary prices, new affordable housing project launches, and attractive payment structures are some of the proposed happenings in the real estate market. Several people would like to take advantage of these initiatives and would search for properties within their budgets. There are several tax benefits that are commonly known by borrowers. Here are six lesser-known home loan tax benefits 1.   Tax benefits may be claimed on missed installments The benefits on principal repayments are available only when the money is actually paid. However, the...
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Five Reasons Why NPS is Preferred over Mutual Fund Investment

Finance tools and instruments are essentially linked to the financial independence of individuals throughout their life. With the flourishing of the banking, financial services and insurance sector, the avenues for savings and investment are on an all-time high, and you are bound to find a suitable plan to meet your needs.   National Pension System (NPS):   There was a need to create a more cohesive pension plan for both, government and non-government employees, and the NPS does just that. One can apply at any leading Points of Presence centres which offer NPS applications, just fill the form and make the...
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Best Investment Game Plan For 2016

Financial planning helps people build wealth for their future. Furthermore, proper planning ensures investors are able to meet their short and long-term goals, such as marriage, buying a house, and children’s education. Most individuals’ investment goal is to strike the right balance between risks and returns. Apart from opting for insurance policies such as health insurance, term insurance and critical illness insurance, they prefer choosing financial products that are less volatile in order to minimize the loss on their capital investments. According to financial experts, investors must choose instruments that suit their investment horizon and risk profile. Here are five commonly...
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