Have you faced any financial difficulty lately which prompted you to borrow money from a bank or non banking financial corporation (NBFC)? If that is the case, one should be mindful of a slew of things which we list out here. For instance, one should make sure that the interest rate charged on personal loan is … Read more
Remember, not all tax-saving allowances are created equal. Some more than others can provide substantial tax benefits, significantly impacting your take-home salary and tax outgo. According to chartered accountant Vijaykumar Puri, partner at VPRP & Co. Llp, the first critical step is understanding your salary structure. “The key is ensuring all allowances are properly structured … Read more
When people think about life insurance, they always consider Unit-Linked Insurance Plans (ULIPs) and term insurance. ULIPs focus on combining investment with insurance, whereas term insurance ensures life cover. However, failing to understand the intricacies of these two results in poor decision-making. Here, we discuss the five most common mistakes people make when deciding between … Read more
Armed with a strong credit score and a little persuasion, Ram returned to his bank and convinced them to lower his interest rate to 8.5%. That 50-basis-point drop may sound small, but it translated into savings of ₹25 lakh on his ₹1 crore loan over 25 years. Though Ram’s example is illustrative, the approach is … Read more
One way is to buy a multi-year insurance policy in which you have to pay the entire premium at one go. The overall outgo will be less than what you would have paid yearly for the same period. For example, if you pay three premiums at one go, the total cost will be less than … Read more
On paper, this sounds like a smooth strategy. But as with most things involving tax, the devil lies in the details. Let’s break down what this GST input tax credit (ITC) really means — and why blindly following such advice could cost you more in the long run, not just in money but also peace … Read more
Financial advisors sold her an unlisted debenture, promising good returns. When it came time for her to pay for her daughter’s fee, she found that the investment was illiquid. Later, she told the PPFAS team that she had no other option but to sell units in the PPFAS flexi-cap scheme to pay for her daughter’s … Read more
In India, credit rating bureaus generally provide credit scores ranging from 300 to 900. A credit score of 720 is typically considered a strong indicator of an individual’s financial health. It reflects responsible financial management and credit behaviour while also opening doors to various financial opportunities, such as easier loan approvals, fair repayment terms, and … Read more
My maternal grandmother has three daughters, including my mother. My mother has chosen to renounce her share of my grandmother’s property, which includes a significant business and several real estate assets. As a result, my grandmother is dividing the assets between her remaining two children. However, I do not support my mother’s decision. If she … Read more
ICICI Bank launched the Emeralde Private Metal Credit Card in the second half of 2023. It had good features and benefits. However, with the introduction of the iShop portal in February 2025, the value proposition of the Emeralde Private Metal Credit Card has further improved significantly. On using the card for the iShop portal transactions, … Read more