Systematic Investment Plans (SIPs) have been gaining significant acceptance among retail investors for achieving crucial financial goals by investing regularly in a disciplined manner. SIP helps investors derive the benefits of rupee cost averaging approach and the power of compounding. However, lack of product knowledge can push many SIP investors, especially new investors, towards committing…
If you have a bank fixed deposit, and you are falling short of funds, there’s no need to break the deposit. Instead, you may opt to take an overdraft against your fixed deposit. An overdraft facility (OD) can be availed against most of your investments such as gold mutual funds etc. But, what if you…
Investors prefer redeeming mutual funds during bearish market conditions fearing further losses; others exit during bull market conditions in order to book gains at assumed peaks. However, such knee-jerk reactions to market conditions may adversely impact your wealth creation objectives. Let’s look at five scenarios when you should be redeeming your mutual fund investments. Achievement of set financial goal Investment in mutual…
Availing personal loans and using credit cards are usually the first two options that come to one’s mind while dealing with fund shortages or financial exigencies. While both of these options have quick disbursals, their differing product features can make them more suitable option for different set of borrowers. Here is a comparison of the…
To ensure increasing contributions on regular basis to a philanthropic organisation – that preaches non-begging and never asks general public for any donations and only allows people, who believe in its cause, to contribute to its educational branch – to establish an engineering institution, a dedicated disciple has suggested other disciples to make lump sum…
Credit score is a three-digit numerical reflection of your credit worthiness. A credit score of 750 and above is considered as good by the lenders and hence, those having such a score usually have higher loan eligibility and can avail various financial benefits. On the other hand, a poor credit score can make it difficult…
Lenders consider the credit score, income, employment profile and stability, age and monthly credit obligations while assessing home loan applications. Any failure to meet any of these eligibility criteria can lead to rejection of your home loan application. You may also fail to secure the desired amount in case of restrained repayment capacity. But taking a home…
