The biggest dilemma for a person with ZERO credit history is how to increase CIBIL Score? The banks and financial institutions are not willing to approve a loan to high risk borrowers including loan applicants with zero credit history. It's a classic situation faced by a fresher seeking first. Companies are not willing to hire a fresher, however, if they will not get the opportunity to work in a corporate then how they will gain experience. Similarly, if the person with zero credit history will not get a loan then how they will build and improve their credit score. The good news is that now ... Read More
Benefit of Filing Tax Return When Below Taxable Limit
As we journey through life, there are many things we are required to do, that we often find ourselves, asking “What is the point?”, without understanding the possible future benefits. Your annual earnings, especially if below the taxable limit or NIL, may have you considering not filing your tax return. However, filing your annual tax return is not just for informing the Income Tax Department of your earnings and taxes paid, it has other benefits that you will not realize, till you face the situation in the future and have you regretting your decision to not file your tax return. Let’s look ... Read More
5 Biggest Investment Lessons to Master This Year
Reviewing or balancing your investments is a smart practice at the start of every new financial year. This ensures that your money works as hard as you, and earns returns that will help you achieve personal goals, such as getting one step closer to retirement or buying an asset. Right from popular term deposits, time deposits, and market-linked savings to investing in gold, currencies, etc., the list of investment options available to you is long. So, rather than basing your investment choices on pre-conceived notions or hearsay,adopt an updated and organised method to choose the most ... Read More
Digital Bank Account – Which One Suits You
In recent past, I shared a post on payments bank with the readers of this blog. I shared 7 Benefits of Payments Bank that you should know. I concluded that payments bank is best suited for monthly online payment. At the macro level, payments bank are also positioning as a digital bank. From last 3 months, I am using one of the payments bank accounts but I came across multiple operational limitations that I will share later in the post. After extensive usage, my personal conclusion is that payments bank account is a mini digital bank with certain limitations. On the contrary, my personal ... Read More
Review – ICICI Pru Heart/Cancer Protect Plan
Recently one of the readers of this blog posted a query whether he should opt for ICICI Pru Heart/Cancer Protect Plan or not. You are probably aware that I only share reviews of products that are unique and beneficial to readers. More importantly, there should be some purpose behind the plan. Lastly, I evaluate based on whether I will buy the plan or not. After all, at the end of the day, we have to pay a premium for the same :). Now after reading the query, the first question that came to mind was, "Why do I need this plan when I already have health insurance plan?". My second thought was ... Read More
Is it a right time to switch to Short Term Debt Mutual Funds
Can I generate higher returns compared to traditional investment products without any risk? This was the query posed to me by one of the clients. The answer is definitely YES. At this stage, it is advisable to switch to Short Term Debt Mutual Funds. Now you must be wondering why? I will answer it in this post with proper justification. Before I proceed, It is important to know the impact of interest rate movement on the performance of Long term debt funds and Short Term Debt Mutual Funds. I explained it in detail in my post, why you should buy long term debt funds? The conclusion was that ... Read More
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