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Finance Forum India

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Why Bank Lockers Are Better than Home Safes

People saving their valuables in bank lockers have been steadily increasing over the past century. During ancient and medieval times, people used to adopt extreme measures like hiding their valuables in obscure places, to prevent them from being stolen. However, with the advent of bank lockers, it has become convenient to store your precious items safely.   However, it is important to note that banks are not responsible if your valuables are stolen from your locker. The same applies in the case of natural calamities. One might then ask, why should I store my valuables in a bank locker? The service...
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How Fixed Deposits are taxed in India; Here’s all you need to know!

Fixed Deposits are one of the safest forms of investing money to increase savings. Knowledge of taxes on Fixed Deposits can help you plan your decisions to invest better. For any person thinking of a comfortable future, savings and investments are two major ways to increase wealth – they represent securities as well as hopes for a comfortable and secure tomorrow. Among the various savings options, a good option is the Fixed Deposit or the FD. A Fixed Deposit is a financial instrument, offered  by banks or monetary institutions; investors who sign up for fixed deposit accounts get higher interest rates...
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How to make the most of home loans with Moratorium Period?

Home! A place where four pillars strengthen the bond of a family. A place, where four walls witness countless stories of happiness, sorrows, celebrations and tears. A place, where we celebrate the freedom of being our own self cheerfully. A place, who’s décor reflects dreams. A place, where new beginnings are scripted each morning and bad days end with new hopes for tomorrow. Home, a four-letter word that holds endless emotions of each family member. In this era where nothing is constant, let your home be your permanent source of confidence and joy. Do you live in a home of your...
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How to Avail Housing Loan subsidy on PMAY

The introduction of Pradhan Mantri Awas Yojana (PMAY), catering to the housing needs of the mid-income to economically weaker segments is an integral aspect under the ‘Housing for All by 2022’ mission. The mission is to provide central assistance to implementing agencies through States and UTs for providing houses to all eligible families/beneficiaries by 2022. This route map has been set to facilitate the betterment of the people, thus resulting in the upliftment of the economic growth of the country.   The scheme categorises the applicants into three core groups i.e. Middle Income Group (MIG), Lower Income Group (LIG) and Economically...
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Here's Why Every Indian Millennial Needs a Credit Card

Millennials have grown up in the world of advanced technologies and consumerist culture. They believe in living their dreams and their priority is personal fulfillment. Almost 50% of the global workforce will be this generation by 2020. Although they have higher spending power, millennials are equipped to manage their finances. This generation controls their finances with a focus on accumulating rewards and builds their credit. Credit cards allow the millennials to do more towards achieving personal gratification. Here are five reasons why every millennial must own a card. Cashless payments A high percentage of the population use cards for their spends...
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