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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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Things to Keep in Mind While Buying Life Insurance

Life insurance is one of the most popular tax saving investment options in India. It is considered to be one of the most secure and simple investment types. Let us checkout some of the most important facts which an investor must keep in mind before buying a term plan. What is the claim settlement policy? People buy term insurance to secure the future of their family members and also to help them get a lump sum amount at time of exigencies. So, when buying a life insurance policy, check out the claim settlement policy. It must be simple and quick so...
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All You Need to Know About Personal Loans

The best way to deal with a financial crisis is by borrowing from external sources. Many banks and Non-Banking Financial Companies (NBFCs) offer loans at competitive interest rates and flexible repayment schemes. Due to the numerous features and benefits offered, loans have become a popular option among the masses. An increasing number of individuals are now opting for personal loans. Such loans, also known as unsecured loans, are obtained without the need for collateral. You are required to repay the principal amount along with the specified interest over a period of time, known as the tenure. The installments paid over the...
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Save Tax and Create Wealth

Save tax and create wealth As a young professional, you may have to tend to diverse things that call for your attention, be it at work and in your personal life. In doing so, you may end up focussing too much on short-term goals. Managing your monthly budgets, buying a new car, clearing your existing debts and yearly tax planning are a few examples that can take up most of your time and energy. As a result, you wind up without a plan to create wealth in the long term. Let’s discuss how it is possible to combine tax planning and...
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Pros and Cons of Having Many Savings Accounts

It is common to hold more than one savings bank account. However, not every person is able to manage and utilize the accounts in an efficient manner. Here are some pros and cons of having multiple accounts. Pros of multiple savings accounts More ATM transactions and higher withdrawal limits Each saving account provides a certain number of free monthly transactions at its Automated Teller Machines (ATMs). When you hold more than one account you are able to enjoy more free transactions. Moreover, ATM withdrawals are subject to daily limits, which increase when you hold more than one account. Higher bank transactions...
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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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