Tops things to consider before availing personal Loan

A personal loan is an unsecured loan which can come in very handy during the times of need. It has the potential to rescue you out of an immediate financial requirements. This is because it gets processed quickly and the amount is transferred into your bank account, thus enabling you to meet your financial requirements.

Right Time and Right Reason

The first thing to do is to analyze your current and future financial status. Analyze the reason for availing the loan. If it is not for an immediate need, just postpone. If the reason is valid and needed, check for the right time to avail it. Monthly EMIs should neither become a burden nor disturb your regular commitments. In short, a personal loan has to be availed only for a valid reason and at the right time to avoid unnecessary financial stress. After all, a loan should be a tool to solve your financial issue, not create one!

Seek an expert advice from India’s Best financial advisor like MoneyMindz.com  Know. How and when to avail loans without disturbing any other financial goals of life. A complete financial planning is needed to make a decision on any money-related matter, including loans. .Just leave a missed call @022 62116588 or Visit moneyMindz.com.

Interest Rates: 

As personal loans are unsecured, they attract a very high interest rate. This is because you need not keep any asset as collateral. This also does not give the lender any guarantee of receiving the amount back. Hence, the nature of this loan also makes it that much more difficult to obtain as compared to getting a secured loan disbursed into your account. You may either apply for a fixed rate or a variable rate when it comes to choosing the type of loan.

Read loan agreement details carefully: You should always read the loan document in its entirety, including the fine print to know all the charges, fees and penalties for non repayment. This will help you not to be caught off-guard later. Do not rely blindly on the bank relationship manager who might not make you aware of some important details.

Penalty Charges: 

In case you are not able to pay your dues on time, there is generally a very heavy penalty that is charged on your loan account. You should find out about the exact details regarding the penalty that may get levied in case of any such circumstance arising in the future. You want to ensure the affordability factor of the loan right from the beginning.

Credit History: 

Before applying for the loan, you should check your credit score in order to know the likely prospects of getting the loan sanctioned. Most importantly, if there are any pending credit card dues, then you should immediately pay them off as this will reflect in your credit history while your application is getting processed.

Know the process of deferment:

This would come handy in case you have a temporary cash crunch leading to inability in meeting repayment obligations. While the going may be good when you decided to access the loan, there is always the possibility of things going wrong in future. A loss of job or another emergency can create short-term cash crunch and inability to meet payment obligations. You should be aware of how to handle such a situation at the time of accessing the loan.

Think of the consequences of not being able to repay loan in time:

Loan default can have serious consequence. Being aware of the consequences can itself make you a disciplined borrower and help you work within your means.

Remember defaults can mess up your long-term credit score too: 

Besides brush with the authorities and courts, defaults will also have a negative impact on your credit score. Even if you are later able to service the present loan successfully, your ability to access loans at a future date may be severely curtailed as your credit history would reflect the previous defaults. A clean credit history can also help in negotiating cheaper interest rates later.

Why to invest in mutual fund ?

Lot of reasons why very small number of people investment in mutual funds but main reason is that people do not understand what Mutual Fund is and there has been very little effort from the industry to simplify it for consumers/investors.

From stocks, bonds, shares, money market securities, to the right combination of two or more of these, however, every option presents its own set of challenges and benefits. So why should investor consider mutual funds over others to get more returns?

Mutual funds allow investors to pool in their money for a diversified selection of shares, managed by a professional fund manager. It offers an array of innovative products like fund of funds, exchange-traded funds, Fixed Maturity Plans, Sectoral Funds and many more.

Do you want to invest in mutual fund or finding difficulty in invest ? We at Moneymindz.com will make it easy for you. Just give us a missed call on 022-62116588 to explore our Free financial Advisory Service.we are not a seller of any financial products. We only provide FREE financial advice so that you are not mis-guided while buying any kind of financial products. 

Whether the objective is financial gains or convenience,mutual funds offer many benefits to its investors.

Simplicity: Mutual Funds Are Easy to Understand

Anything can be made into something more complex than it needs to be and mutual funds are no exception to this truth. However, mutual funds require no experience or knowledge of economics, financial statements, or financial markets to be a successful investor.

For beginners, here is a simple definition of mutual fund: A mutual fund is an investment security type that enables investors to pool their money together into one professionally managed investment. Mutual funds can invest in stocks, bonds, cash and/or other assets. These underlying security types, called holdings combine to form one mutual fund, also called a portfolio.

Accessibility: Mutual Funds Are Easy to Buy

Mutual funds are offered at brokerage firms, discount brokers online, mutual fund companies, banks, and insurance companies.

Even beginning investors can easily open an account at a no-load mutual fund company, such as Vanguard Investments, and open an account within minutes.

Diversity: Mutual Funds Have Broad Market Exposure

One mutual fund can invest in dozens, hundreds, or even thousands of different investment securities, making it possible to achieve diversification by investing in just one fund. However, it is smart to diversify into several different mutual funds.

Variety: Mutual Funds Come In Many Different Categories and Types

As you grow your portfolio of mutual funds, you will want to diversify into various mutual fund categories and types. You can invest in mutual funds that cover the main asset classes (stocks, bonds, cash) and various sub-categories or you can even venture into specialized areas, such as sector funds or precious metals funds.

Affordability: Mutual Funds Have Low Minimums

Most mutual funds have minimum initial investment requirements of $3,000 or less. In many cases, if the investor initiates a systematic investment program, where they have a fixed dollar amount or fixed number of shares purchased once per month, the initial investment can be as low as $1,000.

Frugality: Mutual Funds Cost Less to Manage Than Other Portfolio Types

Costs as a percentage of assets in the portfolio are usually lower for an actively-managed mutual fund when compared to an actively-managed portfolio of individual securities.

When you add up transaction costs, annual fees paid to a brokerage firm, and the cost for research tools or investment advice, mutual funds are less expensive than the typical portfolio of stocks. Other variables influence the cost of managing a portfolio, such as the amount of trading activity, the size of transaction, and taxes. Lets start from the start.

In conclusion, 

Lack understanding from people about what the product is and how to use it for their benefit caused by how industry has failed to communicate the category essence and how industry is structured - making things complicated instead of simplifying for investors;

There are people who have achieved their goals and made money from investing in mutual fund and there are people who have lost money but to get more people to invest in the fund

Stay invested in the funds - there is once thing industry has to do : Simplify the journey for people and approach online advisory like Moneymindz. Fulfill yourd dream as desired.

Factors To Consider Before Investing

Investing in correct investment product at a correct time is very important. If you keep on investing money without proper study, you may end up into mesh situation. You should have a clear objective before making any investment. I have seen many people investing in the product based on the advice of friends or relatives. Do you think is it correct approach for investing?

Investment should be done with proper planning. The ideal way is to consult the financial planner or expert before making any investment. 

So If you want to learn more Just leave a missed call on Moneymindz.com  India’s Best Financial Advisor 022-62116588 or Visit Moneymindz.com. It offers Free, Unbiased and on-call financial advice on Investment Assistance for insurance, Loan Assistance Retirement, Planning, Money Management Investment, Advisor, Retirement Planning, Best Health Insurance,

However, if you can’t afford fees of financial planner here is ready reckoner explaining 10 factors to consider before investing in any financial product. 

Objective of Investing 

You should be aware of objective of investing. You can easily find out objective by asking following question to yourself. 

• For what purpose you are making the investment? 

• How much you need as a final amount. 

This factor will help you in deciding how much amount you need to invest in which financial product. 

Life stage 

You need to know at what life stage you are making the investment. At the young stage when you don’t have any dependency you can take more risk and invest more, but at the old age your risk taking capacity reduces.

Remember Investment needs differs at different life stage. It also depends upon your near and far term commitments. Investing when you get the bonus may differ from when you are planning for retirement or child education. 

Risk Return 

Risk and return go hand in hand. You need to decide that you are ready to accept risk for high return or not. Invest in equity linked product if you are ready to accept high risk else invest in debt product. If you looking for better returns in short time, then you should be ready to bear the risk of the market fluctuations. 

Time Horizon 

Decide that you want to make an investment for short term or for the long term. This is called as Time Horizon for investment. If your time horizon is long term it is better to invest in share or in mutual funds. As you are likely to get a better return in the stock market at the long run. If your time horizon is a short term you can think of investing in fixed deposit. 

Income or Growth in Capital 

Another important factor is you are investing for the regular income or for the growth in capital. If your objective is to get regular income you should opt for debt based instrument generating regular income like fixed deposit, MIS, MIP etc. 

Tax Minimization 

You should consider investment product from tax friendliness point of view also. The government has declared some of the best tax saving investment options. Investing in this options will help you to reduce your tax burden. However, the majority of tax saving instrument comes with lockin period. 

Liquidity 

Liquidity is another important factor you should look for before investing in any asset. Liquidity means the degree to which an investment can be quickly sold in the market and cash can be obtained as and when required. So, if you are sure that you will be needing money in near term you should invest your money in highly liquid asset. 

Loan 

The loan is another factor which you should look for while making an investment. Two factor you need to see first is wheatear you will be able to get the loan on investment or not. The second factor is how much loan you actually owe. If you have already taken loan it is good idea to prepay loan before investing. 

Emergency Fund 

Before investing any money, you should build an emergency fund. This is one of the vital factors before making any investment. Setting aside emergency fund is very vital as it will help you not to touch your investment in case of need.

If you have not built an emergency fund and you are making an investment for emergency fund make sure you are investing in the product which is highly liquid.

Asset Allocation

The last point which you should consider before investing money is your asset allocation. You should make the investment in the different asset class. Investing in the different asset class is called as diversification. Diversification of portfolio always helps in reducing risk.

I hope factors mentioned above will help you in making the right investment.

Important things to note when you close your own home loan

Purchasing a home and applying for a home loan are the two most vital decisions of one’s life. You can plan to buy your dream home with a secured home loan, where you have to keep your house as collateral. So, in this case, you are giving the authority to the lender to auction your home to get the money back, if you become a defaulter.

However in that excitement, a lot of people do not take all the required actions and later suffer because of small things they didn’t complete after closing their home loans. In this article, I want to share few things every home owner should complete, when they are closing their loan.

While I am focusing totally on home loan closure in this article, but whatever I am going to share also applies when one closes a car loan, education loan, personal loan or any other kind of loan

So why are you waiting? Avail a home loan and grab your dream home. Let’s find out. Finding difficulty in Finding Your Dream House? We at moneymindz.com will make it easy for you. Just give us a missed call on 022-62116588 to explore our best Free Advisory Service. We don’t sell of any financial products. We only provide FREE financial advice so that you are not mis-guided while buying any kind of financial products.

1) Get back all the original documents

Once you have made all your payments, the Bank or Housing Finance Company will give you all the original documents. You should make certain that all the documents you presented with the bank when taking the loan are returned. Typically it will be the Title Deeds and Mother Deed (if applicable).

Don’t just test out for document alone. Confirm that all the pages are there in good condition as well. I have seen cases where last page of sale deed went missing. In that instance you require to arrange for the misplaced page which is a tiresome process.

Ensure all the pages are intact in front of the bank official prior to signing on the acknowledgement of the bank.

Once you sign, you can’t undo it and banks typically won’t be receptive in this regard. It is typically a good process to get hold of the documents from bank by visiting them than request documents by courier.

2) Obtain No Objection Certificate

NOC or NC is a No Objection certificate which is a consent certificate from the bank or housing finance company. This affirms that the Bank does not have any more interest in the asset and it’s cleared by the bank after removing all hypothecation.

When you get this make certain the NOC unmistakably mentions the Property details (like address etc.,) , name of the borrower, home loan account number, date of loan starting and closure, amount borrowed and repaid (some banks don’t mention) .

Also a section should be plainly mentioned that the borrower has paid all the dues and the property is now debt-free. This will confirm that the home is completely yours now.

(Real Estate Regulatory Bill)

3. If Lien of Your Home Is with the Lender, Don’t Forget to Remove It from the Registrar Office

Lien here means “the right to hold possession of property which belongs to another person until he/she has cleared all the debt.”

When you buy a home with housing finance, the lender has the right to sell the property (home bought by you) if you’re unable to pay back the entire loan.

Nowadays, banks carefully check the background of the borrower in advance, so they don’t put a lien on the property. However, they keep the original documents (of property) in their custody.

But if the lenders find anything suspicious in any customer’s background, they might want to put a lien on his/ her property from registrar office.

So make sure you ask your lender about the lien on your property, and if it’s there, ask them about the process to remove it.

4. Is Your CIBIL Report Updated With “Closed” Entry?

A borrower’s creditworthiness is measured through his/ her CIBIL report and it records your every loan entry and payment actions. Lenders check your CIBIL report before giving any type of loan or credit card. So, if you have closed your home loan by making full payment, it’s crucial to check if your CIBIL report is updated with the “Closed” entry or not.

Although banks update it themselves, but many times they delay or even completely ignore it for several months and your CIBIL report isn’t updated on time which might decrease your credit score and mar your chances of getting any loan in future.

So, double check with the lender bank when you close your home loan account, that they update the CIBIL report at the earliest.

Whenever you’re closing your home loan (even if you’re opting for pre-closure), make sure you complete all the things mentioned above to be on the safer side.

How GST Will affect Taxation as common man ?

According to the pundits GST is a game changer. But the process that led to untying the GST knot was a game changer too .Prime Minister Narendra Modi led the process, taking big calls, and finance minister Arun Jaitley was the key interlocutor with several demanding stakeholders.

The GST is a dual taxation regime, where the only two components will be Central GST (CGST) and State GST (SGST). Under such nomenclature the total amount of GST for any goods or service will be distributed in both State and Central exchequers.

As and when a new reform or bill comes into force,it surely leaves its impact especially on the common man.

So how will GST affect your everyday life? Let’s find out. Finding difficulty in Tax Planning? We at moneymindz.com will make it easy for you. Just give us a missed call on 022-62116588 to explore our best Free Advisory Service. We don’t sell of any financial products. We only provide FREE financial advice so that you are not mis-guided while buying any kind of financial products.

Positive Impact of GST on the Common man:

• A unified tax system removing a bundle of indirect taxes.

• Less tax compliance.

• Removes cascading effect of taxes.

• Manufacturing costs will be reduced, hence prices of consumer goods likely to come down.

• Due to reduced costs some products like cars, FMCG etc. will become cheaper.

• Lower prices will increase demand/consumption. Increased demand will lead to increase supply.Hence, rise in production of goods. 

• The increased production will lead to more job opportunities in the long run .But, this can happen only if consumers actually get cheaper goods.

• A unified tax regime will lead to less corruption which will indirectly affect the common man. ( 10 Key Tax Terms To Know )

How will it affect your incomes?

If you are in a business, GST will definitely knock your doors. You will need to be friendly with this tax. Regardless of what you do - whether you’re selling something, or making something, or providing a service - GST will be applicable to you. Following are the major impacts of GST for your business:

• Many of your customers will now insist on purchasing with an invoice, because they need the credit of GST.

• A lot of your business expenses (such as transportation, contracts etc.) will now be eligible for set-off against your output taxes.

• Compliance will be limited. Instead of dealing with a hundred tax offices, you will need to deal only with two tax departments.

However, GST is a long term strategy and the positive impact shall be seen in the long run only. This can happen if GST is introduced at a nominal rate (hope so)to reduce the overall tax burden of the final consumers.

Let us hope this “One nation, one tax” proves to be a game changer in a positive way and proves to be beneficial to the common man.

Some useful tips for money investment and saving tricks?

Sometimes the hardest thing about saving money is just getting started. It can be difficult to figure out simple ways to save money and how to use your savings to pursue your financial goals.

Money is just a tool and depending on what your goal is, you might need a whole lot less (or more) than you think. Our goal is to be freedom.

Want to Know Earn money through investments t? Just leave a missed call on Moneymindz.com India’s Best Financial Advisor 022-62116588 or Download Financial Freedom application and post to expert your Queries . Moneymindz.com offers Free, Unbiased and on-call financial advice on Investment Assistance for insurance, Loan Assistance Retirement, Planning, Money Management Investment, Advisor, Retirement Planning, Best Health Insurance.

Saving money is supposed to get you to a point where you spend less than you earn. Once you’re in that territory, you can of course try to maximize it, but being in this position in the first place already puts you on the right track.

“Money, like emotions, is something you must control to keep your life on the right track.”

This step-by-step guide to money-saving habits can help you develop a realistic savings plan

• Always carry a water bottle with you while eating out. Subway costs you Rs 30 for a water bottle that you get outside for Rs 10. Soft drinks are usually 1.5X-2X the actual price in Dominos.

• Get a health insurance and vehicle insurance.Before investing get a Unbiased advice from India’s Best Financial Advisor.

• Do NOT use debit or credit cards while shopping as much as possible.

• Decide your monthly budget. Cut your costs accordingly. If you save some money, put it aside in a saving box. Use it for personal purpose like travelling. Such goals keep you motivated.

• Install apps for coupons. You get a lot of coupons for salons, restaurants, electrical appliances.

• For travelling, use trip planning apps. Also, before visiting a place, get tips from someone who has been there or read blogs related to the place.

• Use public transports instead of cab.

• Buy a basic surge protector for all electrical appliances to protect it during electricity fluctuations.

• Learn about the service tax, service charges and VAT in your area. 

• Pay your bills with Financial Freedom Application. (“The hardest thing in the world is to understand Tax” – Learn more about Indirect Tax with MoneyMindz)

Is it better to invest in ELSS than PPF, considering a long term horizon?

Earlier, we looked at the pros and cons of . tax-saving fixed deposits Another popular tax-saving alternative under Section 80C is mutual_funds. These tax-saving mutual funds are known as Equity Linked Savings Schemes (ELSS). ELSS funds are widely-used to save taxes but a lot of people make rushed investments in them in the last financial quarter of the month. To get the best out of tax-saving mutual funds, an investor needs to understand their pros and cons

ELSS and PPF are two completely different products. The reason one tends to compare is because the two are part of the same tax saving section of the income tax act.

PPF is similar to debt instruments. Returns from this investment is fixed and more importantly similar to the underlying inflation in the economy.

(Never fall prey for insatiability)

Its far better to invest in ELSS than in PPF or any other tax saving funds.

Here are the pros of ELSS -

Investments are in equity -

It gives you higher returns and way to participate in the growth story of India. Unless you have a lot of time to research and pick stocks, this is the best way to invest.

Shortest lock-in of 3 years - 

If the market shot up in these three years, you can withdraw the money and invest elsewhere - buying a house etc. If the markets have not performed so well during these three years, you can wait and hold longer. Unlike FD, the investments are not liquidated by itself

The returns are tax free - 

similar to PPF, the returns earned on the ELSS investments are subject to nil taxation.

It’s easy to invest, track and redeem -

with just click of buttons or touch of screens, you can invest and manage your investments. The returns are updated on a daily basis and after three years, you can withdraw whatever amount you need, keep the rest of the investments invested.

While ELSS are logically best options, here are a few factors why someone might shy away from investing in them for saving taxes -

No fixed returns - certain people want certainty, guarantee. ELSS can’t offer that as the investments are linked to market. But PPF guarantees you a 8% returns.

If I can, then I will redeem -

Since ELSS has a lock-in for just 3 years, you might use the funds just after that. Therefore, your impulse shopping or urge to spend can hurt your net worth. While in case of PPF its locked for 15 years.

Want to save money through ELSS? 

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Impact of Demonetization on Residential Real Estate

The Centre's demonetisation move has come as a reality check for the realty market in the national capital region with registration of properties dipping by almost 30 per cent while kindling hopes of cheaper flats among prospective buyers. Transactions in the sector usually involve a significant amount of cash exchange aimed at avoiding tax by under-reporting the value of the deal. However, with such hidden money moving out of the market, prices are starting to tumble. With the government scrapping 86 per cent of available currency notes, registration of flats, plots and shops in Delhi has gone down by almost 30 per cent while in Gurgaon, the dip is nearly 25 per cent.

Real estate data and analytics platform Prop Equity predicted last month that the cash squeeze will wipe out over Rs 8 lakh crore worth market value of residential properties sold and unsold by developers since 2008 across 42 Indian cities. (Things to Know Before Buying a Residential Apartment)

According to Delhi government's revenue department, a total of 7,028 properties were registered in the Capital in October, but the number came down to 4,417 in November. In Gurgaon, the registries - of both commercial and residential real estate - have dropped from nearly 4,000 a month to less than 3,000, an official said. "The revenue from registration of properties in Gurgaon was nearly Rs 20 lakh a day before November 8 but since then the collection has declined to Rs 10-12 lakh per day. This is mainly because such transactions are made in cash," he said.

A senior official from Delhi's revenue department said there was a noticeable difference between the months of October and November. "It is certainly due to demonetisation, but that cannot be the only thing. To some extent, there might be general downslide in real estate," he said. Experts said this would bring down housing prices, a builder and real estate holder from the city said, "Almost a third of transactions in real estate is made through black money. With the big currency notes banned, the market has taken a hit. The legal financing channels accounted for only a small part of all transactions in this space as Rs 500 and Rs 1,000 notes as transactions in this segment involved lots of cash payments."

(Will home loans be the next big worry for banks?)

One added that demonetisation will make it very difficult for any purchaser to pay in cash and for the seller to accept the old currency. "If the seller is not accepting old money or through legal channels, this will automatically bring down sale and purchase of properties

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Why insurance policies are needed in digital format

In case of health insurance policy, the sum assured needs to be Rs 5 lakh or more apart from annual premium of Rs 10,000 and above. For general insurance policies, e-insurance is needed if anyone is paying an annual premium of Rs 5000 and above or has a sum insured of Rs 10 lakh or more.

The Insurance Regulatory and Development Authority of India (IRDAI) 

It have made issuing insurance policy in electronic mode mandatory from October 1, 2016. It holds for new insurance policies based on certain criteria. The rule states that e-insurance needs to be issued to anyone paying an annual premium of Rs 10,000 and above or the sum insured is Rs 10 lakh or more.

Want to protect your family ? Just leave a missed call on Moneymindz.com India’s Best Financial Advisor 022-62116588 or Download Financial Freedom application and post to expert your Queries . Moneymindz.com offers Free, Unbiased and on-call financial advice on Investment Assistance for insurance, Loan Assistance Retirement, Planning, Money Management Investment, Advisor, Retirement Planning, Best Health Insurance,

In case of health insurance policy

The sum assured needs to be Rs 5 lakh or more apart from annual premium of Rs 10,000 and above. For general insurance policies, e-insurance is needed if anyone is paying an annual premium of Rs 5000 and above or has a sum insured of Rs 10 lakh or more. The rule is applicable irrespective of the policies bought online for offline. There are over 30 crore life policies and 10 crore non-life policies in force and currently about 6 lakhs e-Insurance accounts have been opened, as per CAMSRep.

"E-issuance of Insurance policies has been made mandatory. It is desirable to have e-IA account to buy online policy" says an MD & CEO, Universal Sompo General Insurance. "With the government pushing all service to digital, we believe the adoption of Electronic Issuance of Policies would also improve. People who have understood the benefits of policies issued through the IR system are not asking for physical copies of insurance documents anymore. The challenge remains in educating the large population about the benefits", says a CEO, CAMS Insurance Repository.

Children Insurance,Child Rider Benefits,Why You Take Children Insurance

E-Insurance Account (eIA)

An e-Insurance Account (eIA) which is a lot like demat account helps you to keep all your electronic insurance policies from any insurer in electronic mode. Opening an e-Insurance Account (eIA) keeps your electronic policies safe, convenient and easy to manage. From general to life insurance, for all type of insurance policies one e-Insurance account is needed which comes with separate account number, login Id and password for each account holder to access their account. For existing insurance policies, one can convert their policies into electronic mode by requesting for conversion along with applying for opening an e-insurance account. While buying a new insurance policy, it is best to open an eIA at the same time and go for an electronic policy.

The saga of triple D – Demonetization, Digitalization, Democratization

Surgical strike on currency ban has created one of the greatest debate of our time ever since Independence. Political and Economist are divided on two way opinion, like any other debate, demonetisation to some is like a demon, to others, it could be beginning of true democracy of equality – bridging gap between have and have-nots’

I ‘ve a very different opinion to share - far away from- what Political class or Economist are analysing.

I firmly believe, Demonetization is step ahead or towards Digitalization or cash less economy- finally destined to deliver true Democracy of equality. Economy, where all transaction will be either enabled by plastic, e wallet or some e gateways or even texting (sms) or sharing mere Adhar No. We are talking about real time transaction, where it can be track-n-traced and therefore zero chance of black economy. Imagine the compounding effect in a year for an economy, like India due to its sheer volume and size.

I ‘m not going to talk about social impact of this initiative, such as anti social activities, terrorism, bribing etc. neither am I interested to talk about Fake Currency eradication and its impact on economy but a very different interesting angle. An angle around which politics, power and people revolves. Yes my friend, Modi has polarised entire country but this time it’s not around caste or Hinduthva but around rich and poor, voting and nonvoting class. Through this initiative he is going to win over every poor citizen of this country for ever, making every other political party practically defunct. Any which case, he has already made many of them invertebrate by ‘Note Ban’- actually it was intelligently ‘Vote Ban’.

A gift for yourself before 31st March

Do be get cheated with fake notes? Just leave a missed call on Moneymindz.com India’s Best Financial Advisor 022-62116588 or Download Financial Freedom application and post to expert your Queries . Moneymindz.com offers Free, Unbiased and on-call financial advice on Investment Assistance for insurance, #Loan_Assistance_Retirement Financial Planning, #Money_Management_Investment, Advisor,Retirement Planning, Best Health Insurance.

Political class ever since Independence replaced monarchy with pseudo democracy by buying vote before election. Modi with his master stoke has created a New Normal, where by effective use of technology and fear factor of IT is trying to bridge the gap between poor and rich. In a digital economy if nothing incremental least entire amount of daily wage goes to BPL class and that alone can create huge impact to his/her purchasing power or livelihood.

For the first time rich man and poor man stood in lines to convert notes- as if this was another quit India movement! Yes, quit from bribery, corruption, black economy, hoarding, fake currency terrorism and goonda raj. In fact, Dawn newspaper from Pakisthan reported that Fake currency kingpin, Javed Khanani died immediate after note ban imposition- resulting into huge loss and as a result he committed suicide. Similarly, there was sudden silence and calm in the valley after many month of protest and violence- such was far reaching of Demonitization.

Today, terrorist in the valley are dry and hence stopped activities funded though this black money channel- if this is not a change for good as some political parties fry foul, then what is that they were expecting.

Ways to earn money through Fixed deposit

High volatility in the stock market coupled with falling inflation has brought back fixed deposits as an attractive investment avenue for the investors who are looking for fixed returns.

Bank FD schemes offer guaranteed returns to the investors at the time of the maturity.

A bank FD scheme is considered one of the safest investment avenues compared to other avenues of investments.

You can avail loans of up to 75-90 per cent of the FD amount.

Want to Know Earn money through Fixed deposit ? Just leave a missed call on Moneymindz.com India’s Best Financial Advisor 022-62116588 or Download Financial Freedom application and post to expert your Queries . Moneymindz.com offers Free, Unbiased and on-call financial advice on Investment Assistance for Life insurance Loan Assistance Retirement Planning Money Management Investment Advisor Retirement Planning Best Health Insurance

Here are three ways in which you can get the most out of you fixed deposit plans...

Do enough research
Before deciding on a particular FD scheme, you should look at the interest rate it is offering. You should also decide on the tenure of the scheme. FD interest rates may vary across different banks and different tenures. Interest amount on FDs are calculated quarterly, half-yearly, yearly or at the maturity. Therefore, you should calculate and compare to discover which bank is paying you the highest interest rate. Consider two banks X and Y. Bank X offers 10 per cent per year on a five-year FD and computes the interest on a quarterly basis. On the other hand, Bank Y offers the same interest rate for the same tenure but calculates the interest on a yearly basis. Here Bank X is fetching you more interest than Bank Y because it is calculating interest more frequently.

Thus, the interest that you will get at maturity depends on how frequently the interest is calculated.(Loan Against Fixed Deposit)

Split your FD

TDS (tax deductible as source) at 10 per cent is charged on fixed deposits if the interest income exceeds Rs 10,000 in a financial year. The tax liability of TDS is determined at the branch level. If you want to avoid TDS, you can split your fixed deposits, that is, instead of opening one FD account you can open FD accounts in different branches of the bank and divide the amount among these. Opening fixed deposits in different banks can also avoid TDS. Splitting your fixed deposit has another advantage. In case you need money urgently, you do not have to break all your FDs. You can withdraw the amount by breaking only one or two of them and rest of the accounts still earn you the predetermined interest.