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India Post: A look at various saving schemes
India Post offers nine types of saving schemes through its network of more than 1.5 lakh branches across the country. Most of these schemes offer a rebate under Section 80C of the Income Tax Act. Here’s a look at the schemes available: 1. Post Office Savings Account A savings account can be opened with Rs […]
Money9January 17, 2021/5:17 PM IST -
Government says EPFO, PFs can invest in Bharat Bond ETFs
The government has allowed EPFO and exempted provident fund trusts to invest in Bharat Bond ETFs. Despite an 8.5% interest rate declared by the EPFO for FY20, these ETFs have yields in the 4.5-6.6% range. Thus experts suggested a transfer of risk to subscribers rather than provident funds through unitisation. The government had launched four […]
Money9January 17, 2021/4:31 PM IST -
Post office savings account: Here’s all you need to know
India Post has various deposit schemes, which are backed by the central government. Among them is the savings account, which offers 4% interest per annum. The minimum balance required to be maintained in a savings account is Rs 500. If the account fails to maintain that amount, a maintenance fee of Rs 100 is charged […]
Money9January 17, 2021/4:15 PM IST -
HDFC Bank Q3 results: Profit rises 14.36% to Rs 8,760 crore
Mumbai: The country’s largest private sector lender HDFC Bank on January 16 reported a 14.36% jump in consolidated net profit to Rs 8,760 crore for the December quarter. At the standalone level, the net profit for the three-month period grew 18.09 per cent to Rs 8,758.29 crore. Its total income increased to Rs 37,522 crore […]
Press Trust of IndiaJanuary 16, 2021/1:26 PM IST -
All you need to about key differentiators between term and endowment insurance plans
Insurance is an important instrument for protection against unprecedented events. There are broadly two types of insurance plans offered by most insurance companies – term insurance and endowment insurance. Both plans provide financial protection to dependents in case of death of policyholder and various tax exemptions. However, it is important to dig into their individual […]
Sanjana Choradia and Anindita DoshiJanuary 16, 2021/12:24 PM IST -
WhatsApp delays policy update rollout to May 15
New Delhi: WhatsApp has decided to delay the rollout of its new policy update to May 15 after massive criticism from users globally, including India, over concerns that data was being shared with its parent company Facebook. The move assumes significance for users in India given that the country is among the biggest markets for […]
Press Trust of IndiaJanuary 16, 2021/11:47 AM IST -
A look at how inflation affects savings
Picture this – you are 15 and go to the ice cream store to buy your favorite orange ice candy. You know 10 ice-cream sticks can be bought for Rs 100 and take exactly that much with you. Fast forward 20 years – you decide to take your child to the same store to buy […]
Soumalya SantikariJanuary 16, 2021/11:29 AM IST -
Here’s all you need to know about comparative shopping
Shopping activities have witnessed a massive transformation after the advent of online marketplaces like Flipkart and Amazon. Comparative shopping, which refers to a practice through which consumers can compare the available products in a market and choose one that matches their wants and has an affordable price, has also gained more popularity due to the rise of people […]
Chaitry Karia and Karan SolankiJanuary 16, 2021/11:18 AM IST -
Here are five things you need to know on how to build an emergency fund
In 2020, due to the impact of the coronavirus pandemic, we realised the importance of sound financial planning. For starters, having a well planned emergency fund is vital to sound financial planning. An emergency fund is like an insulation against unprecedented events such as unemployment, pay cuts, accidents or unsought medical expenses. The first step […]
Sanjana Choradia and Anindita DoshiJanuary 16, 2021/10:48 AM IST
