5 Simple Steps to Reduce Two Wheeler Insurance Premium

It does not matter in what century, era or decade you are in, the essence of a two wheeler vehicle will always be vibrant. People who belong to a medium class family find these two wheelers like a scooter or a bike to be extremely economical.

In fact, even the upper middle-class families and filthy rich people have an immense passion for these two wheeler vehicles, for e.g. bikes. Also, these days where the population is rapidly growing, to beat the traffic chaos going for a two wheeler is the wisest decision.

One excellent thing that should not be forgotten here is the insurance of your two-wheeler vehicles. The Motor Insurance Act mentions that it is compulsory for all the two wheeler vehicles to go for an insurance policy. Not only will it keep your vehicle secure but it will also be a tension free task for you. Read more »

Emergency money anywhere, at any time with the convenience of a prepaid card

If you loved your prepaid mobile SIM card, then imagine a personal banking card that offers a similar facility! Expectations on having everything within the reach of our fingertips have probably spiraled with the advent of the smartphones. With smartphones, our ability to achieve anything and everything within a click of a button, does not seem hedonistic. It’s not impossible to be able to shop or dine whenever or wherever you are. With flexible banking facilities, the days of actually withdrawing money from an ATM or any time money facility are gone. Carrying cash is passé, we welcome the days where one has already paid a certain amount and redeems that amount against upcoming purchases for a certain period.

How long can epayments last?
Finance-on-demand has always been the topmost priority for almost any banking customer. Yet, banks and other financial institutions have rarely managed to achieve this demand without actually motivating customers to see the actual benefit. From providing facilities like debit and credit cards, the banking industry has seen each banking customer stretch the limits of these facility. Only a few select banks like Kotak Bank are offering the facility of prepaid cards that can be set against a certain amount for a certain period. Check out the benefits of these prepaid cards below: Read more »

How to Conduct Tax Planning With Insurance?

Every wondered how your neighbor has managed to hold his head up high during the end of the financial year? Well, the secret is none other than tax planning. Paying taxes comes around like clockwork, each year. Whatever age or industry you are working in, your salary will be deductible for taxes. Yet, it’s possible to plan your taxes before the end of a financial year. Evaluate factors that govern your taxes in the course of the year.

Most individuals are taxed from the moment they begin earning. As the bracket of the income sources increases with each promotion, the taxable income or the income liable for taxes also increases. For anyone earning a regular income, planning finances for the future becomes vital, not only to get those desired returns but also to ensure that they save taxes. 

How Is Your Income Tax Deducted?
Income sources differ from one individual to the other. Here are the different ways in which one can earn income which include via salary, from house property, from business or professionals, capital gains and other sources. Commonly, taxable components in a salary structure are the following categories:

COMPLETELY TAXABLE: Dearness Allowance, City Compensatory Allowance, Overtime Allowance, and Other Allowance.

PARTLY TAXABLE: HRA, Entertainment Allowance, Special Allowance, Special Allowance to meet personal expenses. 

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Why a Personal Loan is a Great Line of Credit for You

A personal loan is a form of unsecured loan provided to you for anindividual requirement. Often, these loans are used to pay for expenses such as a vehicle, a wedding, home renovation, an international holiday, etc. These loans do not require a guarantor and are provided once your credit history and income source are evaluated. 

If you are salaried, with a few years of work experience behind you, then securing personal loans becomes quite easy. The quantum of loan provided to you will depend on your current financial status in terms of income and ability to repay. Loan amounts range between Rs 75,000 and Rs 15 lakh. It must be repaid over a fixed period of time in pre-determined instalments. Tenures range between 24 to 48 months. The repayment includes interest as well. 

On submitting an application for such a loan, you will be charged a processing fee. Once approved, the money is credited to your account. The good news is that personal loan interest rates are not exorbitant these days. 

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Why it is a Great Time to Buy a Car

The automotive industry is just coming out of a lean patch. It recently received a boost from the government, which cut down excise duty on passenger cars as well as sports utility vehicles (SUVs) in the Interim Budget. Consequently, this led to car manufacturers reducing selling prices. 

So, today may be the perfect time for you to buy your first car or upgrade to a better one. This article discusses a few reasons why.

In spite of the lowered prices, sales did not pick up as expected in the months of January and February. To encourage the potential buyer, almost every manufacturer is currently offering additional discounts to clear stocks before the end of the financial year. For smaller cars, especially, yourcost savings may go up to a neat Rs 50,000-65,000.Car loans that you take up with such savings will have a significantly lower and affordable EMI. This will help you maintain a good repayment record. Should the need arise, you may even consider asking your financial institution to allow a deffered payment. This feature is especially useful in the case of a financial emergency that eats into your current funds. 
 

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8 Ways to Manage Your Money in Retirement

After a lifetime of saving for retirement, it can feel exciting to finally enjoy the money and relax while living off of the fund. Although there is much to be enjoyed about being comfortable in retirement, it's equally important to properly manage your money to ensure that it continues to support your lifestyle. There are a few main factors to put into practice for proper money management in your golden years.

1. Live Within a Budget
It can be easy to splurge or make unnecessary purchases when you are aware of how much money you still have to live off of, which is an easy way of steadily draining your funds. Instead, create a budget for living expenses, emergencies, and even short-term savings goals for big ticket items.

2. Calculate Non-Monthly Expenses
Between roadside assistance fees to Christmas gifts during the holiday season, there are certain expenses that are not always accounted for throughout the year. Plan for the costs by turning it into a monthly expense and setting the money aside for when it's time to pay.

3. Avoid Investing in High-Risk Stocks
With an ample retirement fund, many people find it as an opportunity to invest in high-risk stocks that can lead to huge payoffs. Although you may be able to afford the investment, it can wreck havoc on your savings and lead to emotional stress.

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Can SME Loans Take Care of your Major Roadblocks?

Ambitions are not merely drawings on the shore of a beach, waiting to be washed by the sea waves. In the real world, it’s possible to realise these ambitions. Great ideas often begin from modest surroundings that are supplemented by adequate financing. Banks and financial institutions offer financial support to realise these dreams. According to the Economic Survey ofIndia (FY’12-13), Government of India, the contribution of SMEs or small and medium enterprises sector as a part of the manufacturing sectorwas approximately 45%.  Yet, SMEs around the country have only managed to contribute around 17% of the GDP.

What are the roadblocks faced by SMEs? How can any SME in the country work around its existing problems? Such questions usually revolve around the discussion boards of SME forums.Lack of adequate finance is one of the key issues identified in these forums.

Do banks and financial institutions actually help?
Lack of information or access to banks and financial institutions can be considered as vital problem in the world of business. Perhaps, this alone is the reason for SMEs failing to contribute morethan they should, across the country. A glance at the image below will give you an idea of the ways in which finance companies can leverage your business. 
 

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Home Seekers Should Know These Benefits of a Home Loan

Calling all home seekers, here are three additional reasons for you to acquire the home of your dreams with a home loan. If you did not already know the convenience of owning a home with a home loan, then you should know about these additional facts. No, we are not asking you to suddenly hire a home loan expert or call your tax consultant. All you need to do is read this article to understand the real benefits that a home loan brings in apart from giving you the keys to your new home. Yes, the income tax department had given provisions under the Income Tax Act that give special provisions for interest repayment and principal repayment. Take look at the finer details below:

Banks and Financial institutions or NBFCs are one of the primary institutions that provide home loans to individuals by providing all the information they need for home loans. While paying EMIs and ensuring that your monthly payments are kept on track, it’s important to reap the benefits of taking a home loan under the following sections of the Income Tax Act:

1.    Section 80C: Along with the payments made forELSS, Life Insurance Premium, EPF, NSCs and stamp duty and registration charges, one can claim deductions against the principal repayment of your home loan. Apart from claiming deductions for a residential property, you can also claim them for renovation, repairs or even for construction of the house. 
 

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How You Should Invest Money After Marriage

Studies have shown new married couples argue about finances more than anything else. It’s rare to find two people that agree on everything, especially money. But a couple that plans to spend their lives together have to find the best ways to ensure a sound financial future for themselves and their children.

Here are a few ideas you and your spouse should consider for investing money after marriage:

Making Financial Goals:-
Hopefully this subject was broached before tying the knot. Couples should be on the same page in regard to financial planning. Do you want to own a house? Do you want to travel? Are you planning to further your educations? Do either of you having any outstanding debt? How will you provide financially for your children? Some of this may seem a long time away, but many have thought the same and regretted waiting. Identify short and long term goals and establish how you’re going to do it with current streams of income. As your income changes, you will also be able to better adapt and change your budget. This will ensure that your marriage is living within it's financial means.

Retirement:-
The sooner you start preparing for those golden years the better. A 20-something-year-old couple that starts a retirement fund can look forward to anywhere up to a seven figure package when the time comes. The best time to start saving for retirement is right now, if you haven't started saving for it already. Ideally, you have already started saving for retirement before you got married. You can enroll in workplace savings plans early, or contribute to IRA or other retirement plans that are tax advantaged. You can also look at investing in mutual funds or a 401K.

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Steps To Help You Get Your Two-Wheeler Loan

Zipping around in the busy streets of Mumbai can only be done in a two-wheeler. Yep, almost all those who hustle from point-to-point across the city feel the same way. Not only is the city one of the most congested cities in the world, but it is also one of the most populated. As the rising middle class continue to occupy and survive in metropolitans like Mumbai, the need to have a vehicle of their own becomes a necessity. The obvious choice for the common Indian is to choose the two-wheeler, be it a scooter or a motorcycle. So, what does an Indian with or without family do to meet their transport needs — Hunt for the best financing options.

How Easy Is It To Finance Your Two-Wheeler? 
Very easy! As the Indian banking and financial institutions make it easier to provide finances to the common Indian, it is easy to see that anyone can own a two-wheeler within a matter of days. Lesser paperwork, competitive interest rates, and better repayment facilities, the hunt is practically over for those looking for the ideal financing options. Here’s a step-by-step guide to get the ideal financing option or a two – wheeler loan, no matter which city you are living in: 

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