Author: Nisha Chawla

Financial planning is not a one-size-fits-all strategy. It changes as you move through different stages of life. What works for someone in their early 20s may not be suitable for someone in their 30s or 40s. Your responsibilities, income, and financial goals evolve with time, and your financial strategies should adapt accordingly. Let’s explore what financial planning looks like in your 20s, 30s, and 40s, and how to make the most out of each stage. Financial Planning in Your 20s: Laying the Foundation In your 20s, you’re just starting your career, and this is the best time to build a…

Bank Advises Customers to Activate Accounts, Submit KYC to Prevent Inactivity If you have a Punjab National Bank (PNB) account and haven’t used it for over two years, this alert is crucial for you. PNB has once again informed customers that accounts with no transactions for more than two years and a zero balance may soon be closed. The bank has advised account holders to take necessary steps to avoid account closure by making transactions and updating Know Your Customer (KYC) documents. PNB’s Social Media Alert: Make Transactions to Keep Your Account Active PNB recently issued an important message on…

Find the best car loan deals from SBI, HDFC, ICICI, PNB, UCO, and more. Get the best interest rates, and EMI options, and save money on your car loan. Why Comparing Car Loan Offers is Important for Savings The festive season is a great time to buy a new car in India, with many manufacturers launching new models. However, for most middle-class families, purchasing a car means taking out a loan. Car loans come with higher interest rates than home loans, so comparing offers from various banks is essential to find the best deal. A good loan plan can help…

Credit cards are a popular payment option, especially among younger generations who use them for everything from shopping to online booking. But while credit cards offer convenience, they also carry the risk of debt. Many people receive regular calls from banks offering new credit cards, and this isn’t a coincidence. Banks actively push credit cards because they make significant profits through various charges. Let’s explore how banks generate income through credit cards and the hidden costs that users often overlook. Interest on Credit Cards: A Major Source of Income One of the most significant ways banks earn from credit cards…

The National Pension System (NPS) Vatsalya Yojana has been introduced to help parents secure a financially stable future for their children. By opening an NPS Vatsalya account, parents can ensure their children have a substantial fund when they reach adulthood, providing them with financial security and stability. The scheme offers an easy and convenient way for parents to invest through various banks across India, both in person and online. Banks Offering NPS Vatsalya Accounts Several banks have started offering NPS Vatsalya accounts, making it accessible for families across the country. Here’s a list of banks where you can open an…

The US Federal Reserve recently cut interest rates by 50 basis points, bringing its federal fund rate to a range of 4.75-5.0%. This marks the first rate reduction by the Fed since 2020, with further cuts expected by the end of the year. Following the Fed’s move, many are now wondering if the Reserve Bank of India (RBI) will also consider lowering interest rates in its upcoming policy meeting. No Rate Change by RBI in August: What’s Next? In the RBI’s last Monetary Policy Committee (MPC) meeting in August, the central bank decided to keep the repo rate unchanged at…

Arundhati Bhattacharya Urges Banks to Adapt to Changing Investment TrendsIn a recent conversation with CNBC-TV18, Arundhati Bhattacharya, former Chairperson of State Bank of India (SBI) and current CEO of Salesforce India, shared critical advice for Indian banks. She pointed out that the younger generation no longer relies on traditional bank deposits and is leaning towards higher-risk investments. Bhattacharya highlighted the need for banks to acknowledge this shift and adapt their strategies accordingly. Youth Are More Willing to Take Risks with Their InvestmentsBhattacharya explained that today’s youth are much more open to taking risks compared to previous generations. Unlike their parents,…

Tax saving Fixed Deposits (FDs) remains a popular choice for risk-averse investors, especially among senior citizens. These investment instruments not only provide assured returns but also offer tax benefits under Section 80C of the Income Tax Act, allowing investors to claim deductions of up to Rs 1.5 lakh. These FDs come with a mandatory 5-year lock-in period, ensuring a disciplined approach to saving. With several banks offering competitive rates on tax-saving FDs, it’s important to know where you can get the best returns. Here’s a look at which banks are currently offering the highest interest rates on tax-saving FDs. Small…

Mutual funds have become a popular investment option for many, especially with the rise of digital platforms that make investing as simple as opening a Demat account. But when it comes to choosing the right type of mutual fund, most people may not realize that there are two broad categories: Active Funds and Passive Funds. Whether you’re a seasoned investor or just getting started, understanding the difference between these two options is crucial to making informed investment decisions. Let’s break down both types and help you decide which one suits your investment needs. Active Mutual Funds: Managed for Maximum Returns…

In a concerning trend, an increasing number of Indians believe it is acceptable to exaggerate their income while applying for loans. According to a recent survey, a significant portion of the population sees no harm in inflating their financial details, especially when it comes to personal and home loans. This behavior has raised alarms among banks and financial institutions, as it leads to higher risks of bad loans and default. Survey Highlights: A Worrying Shift in Financial Integrity A global survey conducted by FICO, a prominent analytics software company, reveals that over 63 percent of Indians think it’s okay to…