Finance

Buying your favourite smartphone or consumer electronic product is an exercise of patience and diligent savings. This endeavour usually requires considerable time, putting aside money from your salary or allowance. But what if you could by-pass the considerable wait-time with a convenient shortcut? This would mean getting your hands on your desired smartphone or electronics as quickly as today. Sounds inviting, doesn’t it? One way to do this is by taking a loan on a credit card. This usually involves making monthly EMI payments with interest. A better option would be with the Bajaj Finserv EMI Network Car, you get the option of paying EMIs without credit card. The card gives you access to 1 million+ products at 84,200+ partner stores, along with a whole host of online portals like Amazon,...

A car is the second most significant purchase you can make in life from a house. And before you can purchase a car, the most significant factor to consider should be the cost of upkeep. It will depend on the car model because gas, oil, and tires will cost you a lot. With time, you may also need to change various components of your car, such as headlights, batteries, sits, among others. Luckily, car batteries will no longer be expensive anymore. Technology minerals are working on recycling the old parts and send to battery manufacturers to create new cost-effective Lion-batteries parts. This is one of the many achievements we expect to see in the future. Let's look at tips that may help you save on your car expenses: Review Your Insurance NeedsShop around for an insurance c...

A term policy is a pure form of life insurance plan that offers monetary benefits if the nominees make a successful death claim. A term insurance plan does not have any maturity or surrender benefits, resulting in a higher cover at an economical cost. You can purchase a term plan to ensure the financial security of your loved ones in your absence.However, you can provide your family members with adequate financial coverage only if you can find a suitable term insurance policy. Here is a list of certain aspects to check out before buying such a policy. PremiumA key advantage of a term plan is that you can purchase it at an affordable price. The payable premium for your policy will be considerably lower than other life insurance policies. However, the premium of a term life...

Health insurance selection can often get confusing with the various jargons used. While this may be a general notion, an understanding of the terms can help you make a smart selection of the policy when understanding the jargons. One such jargon used is the sub-limit. What is a sub-limit in health insurance?  Sub-limits in health insurance are limited coverage offered by the insurance company for a specified expense. Due to this, you may not be able to claim the entire amount of expense owing to the sub-limit defined in your policy terms. Any amount over the sub-limit shall be required to be borne by you and thereby increasing the out-of-pocket expenses at the time of an insurance claim. While sub-limits are applicable in most insurance plans, you must note that they are not applicable o...

The nation has witnessed a digital revolution in recent years wherein almost everything is now available at the convenience of your couch. Coupled with it, affordable smartphone and internet technology makes it accessible to all. This includes purchasing insurance covers that were earlier preferred using the traditional modes.However, beware of these red flags to avoid when buying car insurance online. Let us look at some rookie mistakes that you should avoid to make an informed purchase decision. #1 Not doing adequate research The most common mistake that many people do is not doing adequate research. It is rare that you skip the research step when buying other items, say a mobile phone? So why ignore researching the available options when buying a car insurance cover. You can also veri...

Buying a home is the single largest investment for most people. As you tend to care for all your precious valuables, so why not create a backup plan for your house?A home insurance cover is a perfect way to ensure its safety in case of an unfortunate event like a natural disaster or even man-made peril. Further, the financial loss can be so high that it can wipe off your entire life’s savings.Insurance can at times confuse a layman and that makes it necessary to understand them before starting to shortlist suitable insurance covers. This article helps you demystify these complex home insurance terms to make a hassle-free purchase decision. Read further to know more -Sum insured: It is the maximum amount of liability which the insurance company assumes for your house. In no case...

It is a service which used to be exclusively accessible to clients in the top tax bracket. High net worth (HNW) individuals are often not finance experts. They seek investment and financial advice to maximize returns and reduce liabilities such as taxes. Professional firms offer wealth management services to a select group of affluent clients. Conventionally these have been specialized departments of big banks. Traditionally wealth management has been an involved, interactive, and ongoing process for both clients and service providers. This has now changed. Australia's wealth management industry Australia is home to vast numbers of migrant workers. They send international money transfers worth millions of dollars as remittances to their home countries every year. Migrant entrepreneurs an...

Consider these two types of people in the world – Rahul & Sameer. Rahul likes to spend surplus funds on shopping spree, a turn of the spa, movie tickets, sports event or music concerts, buy a gaming console, go for an extravagant dinner experience…the options are endless, whereas Sameer parks it safely in the bank with savings bank accounts. Though savings accounts are safe, they don’t generate significant returns which beats the purpose of saving the surplus funds. However, there are third type of people like – Rakesh who saves the surplus funds in the liquid mutual fund. It is an alternative option to a savings account. This works like a savings account but generates higher returns and is comparatively more tax-efficient in the long run.What are Liquid Funds? Liquid fund is a d...

Are you studying in high school or college? Odds are you get at least a few thousand rupees as pocket money each month. Did you know that even if you invest a trifling part of this trivial pocket money, you can easily become a crorepati? Sounds exciting, no? Let us understand how you can become wealthy through your pocket money. To become super-rich or crorepati, you just need to have two things - namely time and money.Time Even though your pocket money might not be sufficient, you have time on your side. Hence, the magic of compounding is guaranteed to work in your favor. As a young person who can easily afford to stay invested in mutual funds for a prolonged duration, you can easily accumulate massive wealth over the years.Money To become a crorepati, you do not require chunks...

AI in finance is certainly making things a lot more safe and convenient for banks and other financial institutions as well as their customers. Artificial intelligence is already helping the financial industry to optimise their processes and streamline services. In short, AI is transforming the way in which we interact with money.Artificial intelligence can help with a range of processes from financial risk management, to credit decisions and chatbot assistants. In this article we will take a look at some of main applications of AI in financial institutions and in predicting stock fluctuations. Customer Service Chatbots and Virtual Assistants Banks and other financial institutions have found that the use of chatbots for enhancing the customer service experience proved to be highly suc...