The technological advancement has made way for several possibilities. The banking sector introduced digital banking in India by taking note of this fact. It was a huge step that changed the way we bank today drastically.

To take the convenience a step further, banks started offering digital saving account. This has made the entire process of opening and using your account quicker. It eliminates the need to visit the branch for every other transaction physically. It not only saves you…

Banks and financial institutions offer risk-free investment options in the form of fixed and recurring deposit accounts. Both of them come with assured returns that get predetermined. So, you rest assured to get the prefixed earnings at the end of maturity.

Now, both of them have a straightforward account opening process. While you invest lump-sum in a fixed deposit, recurring accounts…

Money transfer is one of the most in-demand services today, all over the world. As a result of the large number of Indian migrants who send money to their loved ones and family to meet their needs, India's online money transfer industry is growing. As a result of this situation, the money transfer sector has grown. 

Despite the convenience of wire transfer, many…

A Non-Resident External account allows the transfer or conversion of Indian currency across borders effectively. Many NRIs who stay in foreign countries can easily send money to India using this account. The primary advantage here is that the currency converts to Indian Rupee upon reaching India. It helps your family in financial need.

An NRE account has user and finance friendly features that help families access it without any difficulties. You can open the account, withdraw funds,…

Passive income is defined as income derived from assets that do not require your active participation. Your money is put to work for you here. The idea of passive income has always appealed to people, and the economic downturn that followed the Covid-19 outbreak has only emphasised its value.

Passive income, in technical terms, is characterised as net rental income or income from your business interests in which the taxpayers are not materially involved. Passive income gets defined as…

Opening NRI fixed deposits helps you connect with your home country. It allows you to manage your foreign and Indian income. It is a great way to source your family for emergency finance like medical bills, higher education, daily expenses, etc. You can even use it to make investments in mutual funds, stocks, direct equity, real estate, etc.

Now, you can open them as Non-resident external or Non-resident Ordinary fixed deposits. Both are the account types available for NRIs in Indian…

The way we spend our finances has drastically changed over the years. We no longer are limited to using cash and cheque for every transaction. Digital banking has opened up new-age possibilities for convenient spending. The use of debit and credit cards is the by-product of this. 

You conveniently get a debit card as you open your bank accounts. These cards propagate the plastic money…

Every investment provides you with returns and interest so that you can plan your future expenses. Your invested amount starts multiplying over the tenure, and you get fixed returns on it. Most of the investments involve risks of market fluctuations, but they are also suitable for wealth creation.

Mutual fund investment is a prolific source of investment for all small and medium…

People from India travel abroad for better opportunities and settle there. They have many responsibilities towards their occupation, lifestyle, and their family living in India. Money can help face the toughest of situations and…

The financial market is often volatile and unpredictable. Several investors are involved in the process. The profit-to-loss ratio is constantly changing, and there is a lot of volatility. Many people are hesitant to invest in such…

Fixed deposits are a popular investment option. They are safe and provide guaranteed returns for the funds locked in with the bank. The principal amount stays for a fixed duration which earns interest and is subject to withdrawal only on maturity. Pre-mature withdrawals get charged with a penalty, but the liquidation process is easy. 

Fixed deposit interest rates are higher than a regular savings account, making it an attractive option for long-term financial investments. There are…

Fixed deposits are a good investment for those who prefer conservative and safe means of securing funds. You should accumulate a specific sum of money and fix it for a specified tenure. By doing so, investments are safe, and you can earn higher interest rates on the deposits, unlike parking the sum in a savings account. Both resident Indians and Non-resident Indians can make fixed deposits out of their savings.

Here, we have answered some of the common and frequently asked questions…

Every person aims to earn money and save it for future needs. They have many responsibilities and wish to fulfil as many desires as possible. There are many investment opportunities available these days for individuals to earn returns and improve their portfolio. They can consult many finance companies to help them choose profitable investment assets.

Wealth management is a…

Have you watched the movie Big Short? If you have, you will understand how structured finance works. They are full of complexities and meant to be complicated. Though the film focuses on real-life housing crash in 2008, you should know that not all structured products were made to fall. Considering India holds the largest stock exchange in Asia, there are all kinds of products available here. The…

Money holds lots of importance in every person’s life. It is the most valuable resource which needs lots of alertness and calculation. With the rise in prices of all products and services, people have realised the essence of savings. They have also started saving some for the future and resolved most of their monetary problems.

All individuals want to live a secured and successful life where they see their dreams come true. They want to excel in every field, whether education or…

People all over the world want to progress and achieve their goals while they are alive. They have lots of aspirations and desires that they wish to fulfil to live peacefully after retirement. They want to excel in every field, whether academics, sports, or even employment so that they can be proud of their achievements. Many Indians travel abroad for better opportunities and a broader scope to achieve them.

An…

According to the FEMA directives, NRIs are those who live overseas for more than 183 days in a calendar year. They earn their living in foreign currencies, which get deposited in their foreign account. However, those NRIs who have their income sources in India require an NRO account. This way, even if you live abroad, you can manage the finances back home. There are several other reasons you need this account, which are –

Takes care of your Indian dependents

An…

Recurring deposit schemes provided by banks are favourite investment choices for many people. Working people, as well as people with smaller incomes, choose RDs as their investment option. Under this scheme, a person must invest a specified sum of money for a fixed period each month and receive interest on their investment. Upon maturity of the RD, the principal sum is returned along with interest.

RD schemes are usually more flexible than FD schemes, which often benefit those who…

Investors who want diversification prefer structured products. These instruments may be used to achieve goals such as preserving capital or inclusion in the upsides given by equity.

Structured products are a method for generating wealth and securing portfolios. Also known as Nifty-linked debentures, these products are intended to generate returns based on the underlying…

Recurring deposit is the most preferred investment choice in India, among the low-risk investment tools with moderate and assured returns. In the selection of investment number and tenure, it comes with an option of versatility for clients accompanied by several other advantages.

This investment tool provided by multiple banks and NBFCs helps channel monthly savings for long or short-term corpus formation, available in flexible tenure options ranging from six months to 10…