More articles for you

Your one stop place for everything related to finance and lending

Tax Savings

Best Income Tax Saving Options 2022

It is vital to grasp the tax slabs to see how much you may save on taxes. Taxpayers are split into income tax slabs based on their yearly income as per the new income tax rules. Thus, if you are seeking a means to save on taxes, you may either invest your money in stocks and insurance or keep it aside for the future. You may also use the various permits to save money on taxes. Some tax-saving tips are given below. [B-01] Income tax savings options as per the new income tax rules Equity-Linked Savings Schemes (ELSS) Equity-Linked Savings Schemes (ELSS) are broad mutual funds. The new income tax rules allow for a tax deduction of up to Rs. 1.5 lakhs per year for Section 80C investments. You may earn returns in two ways: through dividends or growth. ELSS is an equity-based plan that invests 65% of its assets in shares. Dividends from these plans are not taxable. This means it is tax-free for both dividend-paying and long-term users. Yet, given their returns are dependent on stock prices, it is urged that you spread your assets among various ELSS. Long-Term Capital Gains on Long-Term Asset Sales Long-term capital profits from the sale of long-term financial assets. The tax has been levied on sales of stock shares and equity-linked mutual funds. It is treated as a long-term asset if you have owned it for three or more years. Section 10(38) is used to exclude any capital gains from the sale of such an item as per the new income tax rules. Yet, the current budget states that long-term capital gains are taxed as of April 1, 2018. But it isn’t all bad news. Current traders have been granted an exemption for capital gains made up to January 31, 2018. For example, suppose you bought a share in 2017 and sold it in July 2018 for a cost of Rs. 125. If your stock was worth Rs. 111 on January 31, 2018, you won’t be taxed on the Rs. 10 in capital gains. Income from Farming The Indian Revenue Tax Act exempts all agricultural income from taxation according to the new income tax rules. This is done in a bid to boost the agricultural sector. Farmland leases, profits from goods, and income from farmhouses are all tax-free. Public Provident Fund To avoid taxes, the government has created PPF Accounts under Section 80C as per new income tax rules. PPF investment gains are tax-free. The rate of interest on PPFs changes quarterly. For instance, if you are in the top tax bracket (30.9%), you will get a tax refund of 11.28%, saving you a major sum of money. You may create a PPF account at an approved post office or banking outlet. This is open to all, including minors. It is perfect for you if you choose low-risk investing and do not wish to deal with unstable mutual funds or stocks. Education Loans The tax paid on debts for higher education, whether for oneself, one’s wife, or one’s kids, is tax-free under Section 80E. There is no limit on this sum as per new income tax rules. Only the sum of interest paid is taxed, not the capital. Scholarships for Higher Education Scholarships or prizes given to students are exempt from taxation under Section 10(16) of the Income Tax Act. There is no cap on the amount, and the full payment is used for the scholarship. Donations of Time You may claim tax deductions for charitable offerings or philanthropic activities. Donations to the National Relief Fund are also deductible under Section 80G. Depending on the cause of the donation, certain donations are tax-exempt at 100%, while others are tax-exempt at up to 50%. Deductions may only be made for cash or check payments. Mortgage Loans A house loan displays how to save taxes in India five times over. There are three methods to save money on taxes by using house loans. You will save a lot of money as a result of this. Section 80C deductions permit you to reduce the debt repaid within the current fiscal year. The maximum deduction is Rs. 1,50,000. Section 24 permits you to deduct any interest paid on your house loan up to Rs. 2,00,000. First-time buyers may receive a grant of up to Rs. 50,000 under Section 80EE. You may even get another home loan if you live in the house where you got your first one. The tax deduction for a second home loan is infinite. Income from Savings AccountsSavings account interest up to a limit of Rs. 10,000 may be taken as a deduction under Section 80TTA. It is not completely tax-free since anything above Rs. 10,000 is considered taxable. It is declared on your ITR as other sources of income and is ultimately deducted in line with Section 80TTA. Standard Insurance The insurance plan has a set investment duration and a guaranteed sum. These are either whole-life insurance or money-back guarantees. The premiums are tax-deductible under Section 80C, but the plan’s value is tax-free upon death or maturity. However, it is vital to show that they are rigid and the rates of return are poor. How should you budget for tax savings this year? It would be best if you managed your taxes for the whole year, considering the new income tax rules. Yet, most tax planning occurs during the investment phase. You may pick tax-advantaged assets with EEE (exempt, exempt, exempt) status when investing: Investment in insurance plans qualifies for a tax break. The interest earned in the programme is tax-free. The maturity value (including any withdrawals) is tax-free. In this manner, you won’t have to develop a separate tax strategy once you’ve completed your goal and asset plan as per the new income tax rules. Your purchases must always be prompted by long-term financial goals rather than the short-term urge to save taxes. It would be best if you maximised your tax savings while staying within the parameters of your goal-based investing. [B-02] Conclusion There are several other methods for saving taxes in India as per the new income tax rules. Amounts given in marriage or inherited via a will are tax-free. Acquiring medical insurance benefits qualifies you, your spouse, and your kid for a tax deduction. Business persons may deduct travel and meal costs using the methods listed above. Salary taxpayers may save tax by using trip expenses and dwelling rent credits. If you want to learn more about income tax saving, visit Piramal Finance for similar blogs and explore their products and services.
08-11-2023
Read More
Credit Score

What is the Difference Between Equifax Credit Score Versus CIBIL Score

The Reserve Bank of India authorises specialised financial firms known as Credit Information Companies (CICs). They are also known as credit bureaus. These firms collect and preserve data linked to the credit behaviour of individuals and businesses in India. Credit bureaus like Equifax and CIBIL collect information from banks and lenders all over the country. These credit bureaus are two of the four official sources of credit information in India. Equifax credit scores and CIBIL credit scores are used by most banks to assess your ability to get a loan or credit card. The borrower’s credit score is based on the interest rate, loan amount, and length of time the borrower has to pay back the loan. If you’ve ever tried to get a loan or credit card, you know how important a good credit score and history are. A good credit score will help you get a loan from a bank or financial institution. [B-01] What Is The Equifax Credit Score? The Equifax credit score is a three-digit number that can range anywhere between 300 and 900. Its calculation is based on information from credit providers like banks and other financial institutions. A high credit score shows a possible lender that the person is reliable when it comes to paying back debts. The borrower’s loan application could be approved or denied based on their Equifax credit score. What Is The CIBIL Score? The CIBIL score is a three-digit number ranging between 300 and 900 that sums up your credit history and rating. As the number gets closer to 900, a person’s creditworthiness increases. When you apply for a loan, one of the first things a bank or lender looks at is your CIBIL score. If your CIBIL score is below 300, then the bank may not even look at the application. On the other hand, if your CIBIL score is more than 750, the bank or lender will do more research and look at other factors to decide whether to approve your loan. The bank that gives out loans or credit cards is the only one with the power to give you a loan or credit card. CIBIL has nothing to do with that. It only assesses your ability to repay the debt on time. Why Is Your Credit Score Important? Credit scores and reports are among some of the essential parameters used by financial institutions to assess your capability to repay a loan or debt. Let’s understand why your credit score is so important. Your Equifax credit score is a quick way to find out if you have been good with debt in the past. A lender will look at your credit report and score before giving you a loan or credit card. Your score is also used to determine the type of loans you can avail of and the interest rates on those loans if you are deemed creditworthy. Having a low credit score is not the end of the world. If your credit isn’t too bad, you may still be able to get a loan. But you should know that the terms associated with your loan or credit card may be much stricter. Maintaining a high credit score is essential as you build your credit history. Banks and other financial institutions use credit reports to find out if the borrower can pay their debt on time. Equifax or CIBIL — Which Score Is Required? Ideally, you’d need a credit report from one of the two bureaus. This can be either CIBIL or Equifax. Getting messages from both is the best way to gain a complete view of your credit history. Credit scores from CIBIL and Equifax can range anywhere from 300 to 900. Since the criteria used by each agency to determine a customer’s creditworthiness can vary significantly, a customer’s credit score may be slightly different on each report. Equifax Credit Score Versus CIBIL Credit Score The widespread belief that your credit score is the same no matter where you apply is one of the biggest myths. Since each credit reporting agency uses a unique scoring algorithm and methodology, it is not unusual for a consumer’s credit score to vary. To better distinguish between the credit scores of each agency, let’s take a look at the differences. Component of comparisonEquifax Credit ScoreCIBIL Credit ScoreCredit score range300-900.If you have a score of 750 or higher, you are eligible to get a loan, whereas a score of 300 or lower indicates a bad credit score.300-900. In the CIBIL scoring system, a score of 750 or more is outstanding, while a score closer to the low end of the scale is not perfect.Time taken to receive score1 day via email, and 7 days via post7 days via post or through email in 1 dayPayment methodDemand Draft (DD) only All payment methods are acceptedDispute resolutionYou can download the dispute form from the website and fill it up. After sending it, a response usually takes 7-14 working days. If there is a problem with your CIBIL report, then you can take it up with their team. They will resolve it as soon as possible. [B-02] Conclusion Professional borrowers are the ones who stand to gain the most from the credit arrangement. They know their current credit standing and the actions necessary to qualify for a loan. If you have a complete picture of your financial situation, you can better manage your credit score and make sound financial choices. Both Equifax and CIBIL offer guidance on how to improve your credit score. The Equifax credit score and CIBIL credit score are important parameters to get a loan. Visit Piramal Finance for similar blogs and take a look at the various financial services they offer. Their services include home finance, structured debt, senior secured debt, construction finance, business and personal loans, and flexible lease rental discounting.
08-11-2023
Read More
Personal Loan

How To Choose The Right Personal Loan Lender

Personal loans are often the easiest option to get money quickly. You also get a lot of leeway in how you spend the money lent to you. The interest rate is also lower than that of credit cards and other widely used methods of borrowing money. A personal loan can be a great choice when you need quick access to cash. Since you do not have to put up any collateral to get this unsecured loan, it is easy to get them approved and funded. Personal loans may be approved instantly, and, with some lenders, the sanction may be in place in as little as 24 hours. [B-01] 10 Things to Consider While Choosing a Personal Loan Lender When you want to take out a personal loan, do so only with a lender you know you can count on. At times, you may find that some loan offers have very low interest rates. But if you look closely at the tiny print, you will find that extra fees like a processing charge or high prepayment penalty are levied before the loan’s maturity. This article gives you some tips on choosing the right lender from so many personal loan companies out there. You must keep in mind a few crucial things while selecting a personal loan lender: Check your financial situationPersonal loan companies offer a wide range of services to meet individual needs. Some companies only want to lend to people with good credit and steady incomes, while some other lenders may still give loans to people with low credit scores. These loans are given at higher interest rates.Even if some lenders have the lowest interest rates, they might not give you a personal loan. So, first, you should look at your credit score and finances to find the right lender for yourself. Explore the marketPersonal loans are offered by banks and online lenders, among other finance lenders. So, you should look around for the best rates and terms before picking your personal loan financer. Consult with multiple loan givers and compare ratesPersonal loan interest rates and repayment conditions vary from one financial institution to another. Getting a personal loan quotation today is very easy all thanks to the internet, so do some comparative window shopping. This raises your chances of finding the cheapest loan choice. Analyse different lenders based on interest ratesWhen looking for the best personal loan option, the interest rate is a crucial factor to consider. This decides whether or not you can afford the loan.Your credit record and ability to make monthly payments are two factors that the lender will use to calculate your interest rate on a personal loan. A higher score denotes a more reliable person for paying back the loan. But, if your score is low, your request can be rejected.To check if a loan is within your financial reach, all you need is an EMI calculator. With this calculator, you can check the best loan option based on your monthly budget and the total interest you will pay throughout the loan. Check for the lowest and highest loan amountsIt is vital to pick a lender that can lend you the most amount at the lowest rate based on your financial ability and needs. If you do proper research, you might find personal loan companies that lend larger loan amounts with no security or collateral. Find a lender with easy eligibility criteriaIf you want the best personal loan available, you should always search for a personal loan lender with easy-to-meet needs. This makes it more convenient for you to get money and speeds up the process of checking and getting approval. Check the lender’s credibility and worthChecking if a personal loan lender is worth your trust is just as crucial as them checking your trustworthiness for repayment. Before applying for a personal loan, it is a good idea to do some research online and look at things like customer feedback, lending policies, and total expenses. Always go with a brand that has a solid image and goodwill in the industry. Ask about any extra costs and feesYou must make sure that apart from the interest rate, you also look into any fees and hidden charges. These could be expensive, depending on the lender. You might end up going over budget without realising it at first.So, avoid making a decision solely based on a low rate of interest. Any other processing fees, failure charges, penalty charges, and security charges should also be considered and calculated. Ensure flexibility in repaymentMake sure your repayment period is flexible if you want to have the smoothest loan experience. This enables you to spread out your EMIs over time, so you can repay the loan as per your ability. This also lowers the chances of default. Ask for application processing time A loan approval process is usually completed in no time. Pick a lender that will not add extra time and hassle by making you fill out plenty of paperwork. Ideally, a lender should approve a personal loan within 72 hours of receiving your documents. You can rest assured that following these tips will help you get the best personal loan that aids your finances. [B-02] The Bottom Line A personal loan gives a person many perks and can be put toward a wide range of expenses. Selecting a renowned financer with a good market reputation as a personal loan lender is vital. This ensures that the loan does not turn into a financial nightmare. Visit Piramal Finance for your financial needs and questions.
08-11-2023
Read More
Electronics

5 Best Affordable Air Conditioners on EMI to Beat The Heat

In a country like India, where the weather is hot and humid for 8–9 months of the year, air conditioners are a basic need to escape the warmth. Air conditioners come in a variety of price ranges and sizes. There are two main varieties: window AC and split AC. Split ACs are becoming more popular since they look great and take up less room than window air conditioners. People prefer split ACs over window ACs because of their noiseless function, attractive look, and many other benefits. Always examine your budget and study the costs of several items in the same category before deciding on the type and brand of the air conditioner. [B-01] The 5 Best Air Conditioners You Should Buy Voltas 1.5 Tons 3 Star BEE Rating Inverter Split AC White Using this Voltas 1.5 ton AC, you may update your house. You can boost the degree of comfort in your living room or bedroom. It has a vast cooling system of 5,100 watts, making it perfect for houses in humid or hot climates. The special sleep mode enables you to sleep in peace all night by maintaining ideal levels. Blue Star 5w18gbti 1.5 Ton 5 Star Inverter Window AC This fine window AC of 1.5 tons is a unit that offers good power and longevity while being affordable. The Blue Star 1.5 Ton Inverter Window AC provides steady cooling. It also has a strong dryer to aid in moisture removal from the air. Rest easy knowing that its high-speed blower provides quick cooling at lower noise levels when needed. Windmill Air Conditioner When it comes to air conditioners for smart homes, this Windmill AC Smart Home 8300 BTU AC is a good choice. A sleek, auto-dimming LED screen offers a sleek style. You can simply manage the device with the provided remote or your voice by using Amazon Alexa or Google Assistant. By using its app, you can handle your AC from anywhere without having to be right next to it. The AC covers a decent 350 square feet and blows air at a 45° angle for better coverage. It is also very energy-efficient due to the use of upgraded R-32 refrigerants. The device comes pre-assembled, so remove it from the package and follow the instructions in the user manual before putting it anywhere you like. It also has a 30-day return period with no questions asked. GE AHEC05AC The GE AHEC05AC is a low-cost device that uses 5,000 BTUs to chill rooms up to 150 sq. ft. It’s a window-mounted device with a fixed frame and an EZ Mount assembly kit for simple setup. Despite its tiny size, it gets to pack 10 various temperature choices into one device. The variable thermostat controls dual cooling levels with two fan speeds, and the addition of 2-way louvres guarantees cold air is properly spread wherever the device is placed. It is also quiet, making it perfect for use in a bed or dorm room. Once it is time to clean, the filter is simple to remove and may be cleaned for future use. Much better, a one-year replacement service is provided. Midea U MAW08V1QWT Midea U MAW08V1QWT is a great mid-range device with Wi-Fi ability for your smart home for easy access. This is a unit that is easy to set up in just three stages. Due to Midea’s complete DC inverter technology, the unit is strong enough to push cold air up to twenty feet once mounted. As a result, the device can easily handle bigger spaces. This U-shaped AC has a far quieter sound that may go as low as 42 dB. This AC form also allows you to open and shut your windows while the device is in place. This is so you don’t lose the vital use of that one window in your house or workplace. A one-year warranty is also offered. Some Key Aspects to Consider When Buying an Air Conditioner In the heat, it is very hard to stay inside without a proper cooling system. Staying indoors with a strong AC is the best way to beat the heat. Yet, it is always a good thing to be alert to some specific traits and technical details in advance. These are the vital needs of every model. Some specific things to consider while buying air conditioners are: What is the wattage of that AC? The overall power demand varies per model. Several external factors may affect power use. The power usage in watts will differ based on the size of the space, the number of gates, the chance of air leaks, the frequency of maintenance, and the cooling output. An AC’s cooling power is mostly governed by its cooling ability. The cooling ability of the air conditioner is the overall level of cooling given by it. If you live in a hot and humid climate, you must always get a large air conditioner to get the best cooling. In India, electronic devices are rated using the BEE (Bureau of Energy Efficiency) star rating. This ranking is based on the power efficiency of every air conditioner. The device is scored from one to five stars based on some calculations. An item with a larger number of stars costs more than an item with one or two stars. Even though a high-star item costs more, you must pick it since it will save you cash on your power bill and in the long run as well. [B-02] Conclusion There are many kinds of air conditioners on the market now. However, the two most common are window ACs and split ACs. Window air conditioners come in a variety of sizes but are either placed in a window or inside the wall. This makes them a potentially intrusive feature of your space. A split AC, in contrast, is self-contained and may be shifted from one spot to another since it is not attached to a single point. So, you should pick the AC as per your budget and the space in the room. Take a look at similar blogs on the best air conditioners on Piramal Finance’s website. You can also take a look at the various products and services they offer.
08-11-2023
Read More
Home Loan

3 Simple Steps For Effective Home Loan Management

The most significant financial choice that most individuals want to make is buying property. Given that owning a home is expensive, many people choose to borrow money for it. A home loan from a bank or mortgage lender is a good option. Housing loans are secured loans obtained by pledging the property as collateral to the lender. They offer high-value financing with low house loan interest rates. Furthermore, they also have long repayment terms. They are repaid through EMIs. Following repayment, the borrower receives possession of the property. [B-01] 3 Simple Home Loan Management Practices Opt for home loans with lower interest rates As a borrower, choose housing loans that are available at affordable interest rates. This is the first step to consider before opting for a home loan. It will help you pay your EMIs in the future. Interest rates tend to fluctuate. So, thoroughly research low house loan interest rates before finding a suitable loan option. Enhance your EMIs Once you avail yourself of a home loan, you should keep a constant monetary check on the EMIs. Hence, it is recommended that your monthly repayments be increased. Home loans offer huge financial support to the borrower. However, repayment of such a heavy amount in a short period can be made possible by increasing your EMIs. This routine monthly practice will prove quite effective and helpful in the long run. For your convenience, you should use a loan calculator. Assess your monthly expenditures and enhance your EMI accordingly. Opt for the partial repayment option Getting a loan cleared is the primary concern of most borrowers. The best way to achieve this objective is by opting for partial repayments. This will cut a significant chunk of your loan repayment amount. Besides, this practice also ensures a cut on excessive interest payments. As a borrower, EMI enhancement and partial repayment are potential practices that lower the burden of your loan. What Is the Importance of Home Loans? Everyone wishes to enjoy the security of their home, and getting a home loan can help them get it. Obtaining a house loan comes with many benefits, including: Tax Benefits The government provides tax advantages on mortgage loans. Under Section 80C and Section 24B, individuals are eligible for tax refunds of 1.5 lakh rupees and 2 lakh rupees, respectively. Newly built residences are not eligible. Reduced Rates of Interest Housing loans are available with fixed as well as adjustable interest rates. They also have lengthy terms. If house loan interest rates are floating, you will enjoy declining ROIs. Enhanced Assets Property investment is a rising asset class. By taking out a mortgage, you can buy a home today that will increase in value tomorrow. The business of buying residential houses will keep prospering. This is due to India’s young population and a growing desire to own a home. Stay Liquid Preserving or investing your liquid assets is recommended if you have access to them. As life is erratic, it frequently throws our plans into a loop. You can experience a liquidity crisis in the future if you use up all your available cash to buy your favourite house in one go. Home loans enable you to maintain liquidity while only paying a small chunk of your salary or savings through EMIs. Rent Relief If you do not want to move frequently and waste money on rent, applying for home loans to purchase a home is the best alternative. It gives you the freedom to decorate your home and live your life as you wish while also providing enough space for each family member. Refinancing Facility Home loans allow borrowers to transfer a particular loan to another institution or lender to avail themselves of a feasible return on investment. Unsatisfaction with your current home loan ROI or the institution's representatives should motivate you to make a shift. This shift should offer lower rates of interest and good service. Selecting a Low House Loan Interest Rate Opting for a low interest rate is one factor to consider when applying for a home loan. You can borrow money from lenders to pay for a home at a predetermined interest rate. When you begin repaying the loan, you also have to pay the interest. Usually, there are two types of house loan interest rates: Fixed interest rate Simply put, a fixed interest rate is one that the bank or lender decides will not change during the loan. You get the advantage of knowing your loan repayment amount before you sign the loan agreement. Throughout the term, your home loan EMI will also not change. Floating interest rates A floating interest rate changes in response to market developments. The rate would increase or decrease depending on how the market is performing. Your interest payment may increase or decrease if the interest rate is variable. As a result, your EMIs will also rise or fall. Lenders have different interest rates that consider competitive factors, ranging from 6.5% to 13% p.a. You may calculate the interest using an EMI calculator. You only have to enter the loan amount, loan payback period, and interest rate there. Once the details are filled out, you receive a complete overview of the loan, including the amount due. [B-02] Conclusion Buying a house is a huge step. It can cause stress, but it also provides a great sense of achievement. Given the skyrocketing real estate prices, it is challenging for an average person to buy a home purely out of savings. On the contrary, home loans enable you to buy your dream home and provide other benefits. These loans have low interest rates. This makes them a central part of investment portfolios. They also aid in claiming an income tax deduction of up to Rs. 1.5 lakh for the entire interest paid on the home loan. Piramal Finance has various other blogs on home loans that you must check out. You may also take a closer look at their various financial services and products.
08-11-2023
Read More
Home

5 Best Books to Read that Will Relieve your Boredom

The way of life has evolved along with the times and conditions. Every single thing has moved online. People are becoming more lazy and bored in their daily lives as a result of this. So, what should you do when bored? It’s common for people to pass the time when they’re bored by viewing online videos, movies, and television shows. But, reading is different. So, you can look for some of the best books to read if you have nothing to do. This article gives you a list of the five best books to read that will instantly put an end to your boredom. [B-01] American Gods by Neil Gaiman American Gods by Neil Gaiman is among the best books to read, especially if you like fantasy fiction and things that are a little bit out there. It’s the type of book that captures your attention, draws you into the narrative, and keeps you there right up until the very end. In this book, Gaiman combines mythological figures or gods from Norse, Middle-Eastern, African, Hindu, and Egyptian mythologies and sets them in contemporary America. The advent of modern tech gods, like media, poses a risk to the existence of the Old Gods. The story is slow-moving but very engaging. This is a book that focuses more on the journey than the destination. And, the entire journey feels like it was expertly written on every page. The Bookish Life of Nina Hill by Abbi Waxman Funny and endearing, The Bookish Life of Nina Hill is a great book to read. The protagonist is Nina, a library employee and lifelong reader who learns that her estranged father has passed away. Despite having never met her, her dad’s will names Nina as one of the beneficiaries. Nina discovers her siblings, nephews, and nieces. Though overwhelmed by this in the beginning, Nina finds her family ties curious and connects with them gradually. You will admire Nina for her sense of humor, love of literature, libraries, and bookish allusions. She’s one of the most likable, cool characters around. The relationship between Nina and her new relatives is depicted in the story as being quite interesting. This makes The Bookish Life of Nina Hill a prominent addition to this list of the best books to read. All Our Wrong Todays by Elan Mastai Elan Mastai’s brain would be on your list to analyze if you ever have the chance to access someone’s brain. If time travel fascinates you, then this book will win your heart. These days, there are a ton of amazing time travel books available. But, All Our Wrong Todays is one of the best books to read. The protagonist of this book is Tom Barren, who becomes a chrononaut or a time traveler by chance. Barren finds himself and all his lifelong connections in the future, which is a utopian view of Earth in 2016, only reimagined in a brilliant, creative, and often-humorous way. The book will take you on an inventive journey and help you take another look at your own life through the prism of the future’s prospects. The Book Thief by Markus Zusak This book is among the best books to read. The book’s narrator is unique: Death himself. A sister and brother are seen asleep next to each other on a train. The train is packed with passengers at the onset of the disaster. The boy’s sister is terrified and miserable as death collects his soul. As soon as she can, the mother buries her son, after which she sets out to give her daughter to a foster family. The young woman, Liesel, struggles to adjust to her new life in Nazi Germany. She is confused and overcome with mixed emotions. She runs into a lot of interesting characters, like Rudy, who wants to kiss her, Tommy, the mayor’s wife, and others. You’ll have a great time reading this book. It has a fantastic plot and endearing characters. The character “Death” is very well-developed. Markus Zusak showed him as a man who was tired of the sadness and grimness humans showed to one another, as opposed to how most authors portray him, as a grotesque monster who enjoys his work. Not Here To Be Liked by Michelle Quach Not Here to Be Liked features two fascinating main characters and a writer who isn’t afraid to take on difficult subjects. Readers see opinions on menstruation, blonde jokes, and how different meanings of feminism exist through Eliza’s eyes. They also see how much work it takes for a woman to appear effortless in her femininity. Or how, in today’s society, liking someone is valued far more than being intelligent or moral. Or, how to “act out” without actually acting out. On top of all that, Quach delves into the wonderfully distinct and varied experiences of the many cultures that constitute “Asian” in America. You can’t help but fall in love with the strong heroine who had real guts and the dashing hero who both pushed and admired her. This book is one of the best books to read. [B-02] Conclusion It is always a good habit to read books. This is true regardless of your age. People claim that they lack the time to adapt. But, given how boring life has become lately, making time for the best books to read doesn’t seem like such a big deal. It will encourage you to be active in your spare time. And, it will instill some moral principles in your mind. There are many best books to read. You can read any of your choices. This article also includes suggestions for some of the best books to read. So, read them and enjoy them. For similar blogs, you can visit the Piramal Finance website and explore their products and services.
08-11-2023
Read More
Education

5 Ways to Avoid Losing Money in the Stock Market

Following a few simple criteria, many business owners and investors are successful while investing in the stock market. They learn how to increase and multiply their money using simple approaches. However, some investors need help to succeed. Trading costs them a ton of money. They ponder what went wrong, what errors they made, and how to avoid future stock market losses. Follow the 5 ways outlined below to prevent losing money in the stock market if you are an individual investor. [B-01] What Is a Stock Market? As the name indicates, a stock market is a location where buyers and sellers come together to transact or buy and sell shares of publicly traded corporations. A stock market is sometimes referred to as an equity market, a share bazaar, or a share market. Simply put, Ashish would submit a sell order on the stock market if he wanted to sell five shares of Reliance Industries for Rs 500 each. The stock market will locate a buyer who wants to purchase five shares of Reliance Industries for Rs. 500 each. As a result, the stock market is an electronic marketplace where buyers and sellers may transact in shares. 5 Ways to Avoid Losing Money in the Stock Market Set reasonable goals When investing, you should have reasonable expectations of your potential returns. Additionally, statistics like average rates of return may include errors. For instance, you would have earned an average rate of return of 10.2% if you had invested in large-cap companies between 1926 and 2020. And Rs. 100,000 invested would have increased to Rs. 18.4 million over 30 years if you got this rate of return. But throughout the same period, your returns would have ranged from a high of 54% in 1933 to a low of -43% in 1931. If you made your first investment in a year with losses, it could make you hesitant to make future ones. It’s critical to realize that your returns won’t be linear but will be an average of positive, negative, and flat returns. And realizing this may help you get through the difficult years ahead. Recognise a realised loss from an unrealised loss You can feel like you lost money when you check your account balance and notice that it’s lower than the previous month. Unrealized losses or profits, however, are the figures you have seen on your statement or when you check into your account. Throughout a day of stock market activity, these figures fluctuate for better or worse and are only regarded as true losses or profits when you realize them by selling your assets. For instance, if you lost money last month and your account balance was Rs 10,000 last month, it may now be worth Rs 9,000 instead. You will only lose money if you sell this investment before it reaches its initial worth. As the stock market has consistently gained in value over the long term, so should your assets, provided you continue investing. Have a reasonable timeframe How successfully you manage your money amid stock market disasters may depend on how fast you need it. If you experience a 30% loss and won’t need your money for 25 years, you may ignore it since you know that in a few years, the value of your account may increase to its original level. However, if you want to use the money next year, you could be terrified of losing any of it. Consider your time horizon before making any stock market investments. And the more likely it is, the more cautiously you need to spend. Losses may appear severe only because you are afraid of not meeting your goal, and you will be less likely to give up investing over a minor decline. Manage feelings It might be difficult to control your emotions while losing money, and it may seem to last forever. However, decreases are rarely permanent. When you’re feeling this way, knowing how to manage your emotions could be the difference between achieving poor returns that lag benchmarks and staying up with them. Reviewing historical stock market declines might be beneficial when it seems like the world is ending and there is no end. Investors who stuck with it frequently recovered their losses in a few years, even during some of the worst downturns. If you had just invested in large-cap companies from 2000 to 2002, you would have lost around 38%. However, by 2006, you would have recouped your investment and be slightly in the black. Invest according to your risk tolerance What do you think about volatility? Do you hardly notice it and know it is a typical market cycle phase? Or does this make you feel sick each time it occurs? More aggressive investments can increase your long-term earnings, but they also carry a higher risk of loss during a bad year. Additionally, these investments can be too hazardous for you if the losses look excessive. It could be challenging to remain motivated if this occurs. You may avoid this by ensuring your investments are within your risk tolerance. Additionally, even if it offers a lower rate of return, you should pick an asset allocation strategy that matches your level of risk tolerance. Instead of bringing you farther away from your objectives, investing should assist you in achieving them. While it is typical for your account value to rise or fall regularly, you are not required to lose money. You can avoid it by keeping your worries in check, making sure you have the right assets, and having reasonable expectations about how your accounts will grow and when those gains will happen. [B-02] Conclusion The stock market is a marathon, not a 100-meter sprint. You will require years of study and investigation to succeed as an investor. Anyone who invests in stocks has the potential to both gain and lose money. You must approach the stock market investment like any other kind of business. To consistently profit from the stock market, you need to study a lot and have real-world experience. By following the advice given above, you may begin making money on the stock market today. You should invest most in yourself. Using Piramal Finance, you can learn more. Visit the Piramal Finance website to learn more about the stock market.
08-11-2023
Read More
Education

5 Reasons to Buy Gold This Ganesh Chaturthi

The majority of Indians frequently purchase gold bonds online. It is regarded as a symbol of prosperity, a way to store money, and an heirloom that may be passed down from father to son. Let’s imagine that you are considering purchasing gold. An auspicious day is Ganesh Chaturthi. You may already know that buying gold bonds online in India honours Lord Ganesha, also called Ganapati, who is seen as the god of wealth and good luck. [B-01] The theme of Ganesh Chaturthi is to look forward. Ganesh Chaturthi is a holiday that honours optimism for the future. One of the reasons it is so well-liked in India is because of this. The event also acts as a reminder that although it’s crucial to have dreams for the future, action in the present is just as important. Ganesh Chaturthi is frequently referred to as “Shubh Arambh,” which denotes that it is an excellent time to begin a new endeavour. Ganesh Chaturthi is the best time to start anything, like a new business or a new product, or to buy gold bonds online, such as stocks, bonds, or gold. Gold is still a good way to put your money to work. You must have noticed that you can buy gold bonds online in India. Why Should You Buy Gold Bonds Online This Ganesh Chaturthi? Inflation Both inflation and the cost of living have been rising recently. Large-scale geopolitical shocks, the strengthening of the dollar (which fuels imported inflation), supply-chain hiccups, rising metal and cooking gas prices, and the cost of some food items have all contributed to their increased cost. One of the main things threatening inflation is pressure from prices in both the industrial and service sectors. In India and many other nations, inflation is anticipated to persist in 2022. According to a World Gold Council study, gold has performed significantly better when inflation increases, rising by an average of 12% when it exceeds 6%. This demonstrates that gold is an effective technique to ward off inflation. Additionally, consumers account for a sizable portion of the demand for gold, which has affected gold’s price. According to the WGC study, for every 1% increase in inflation, the short-term value of gold increases by 2.6%. Interest rates rise Gold typically suffers when significant central banks raise interest rates to combat inflation. However, many central banks were likely to raise rates more gradually and support growth after raising rates quickly in the first half of 2022. The U.S. real rate needs to be higher than 2.5% to affect the gold rate, but it is currently negative. Bond yields are low The yield on the 10-year G-sec has been rising since July of last year. This is brought on by increased public borrowing, an elevated debt-to-GDP ratio, a depreciating rupee, rising inflation, rate hikes, and a generalised state of economic uncertainty. Bonds are now less appealing due to declining total returns (also known as inflation-adjusted returns). Future expectations for them don’t call for any positive outcomes. In this situation, wise investors should consider gold as a long-term portfolio diversifier rather than bonds. Tensions in world politics Geopolitical tensions were also increasing in many other parts of the world. Examples include the battles between China and Taiwan, Russia and Ukraine, and China and India over their shared border. The focus would switch to gold during uncertain times that might have an impact on society, government, and the global economy. The RBI and a few other central banks have begun to buy gold because they are aware of the risks. Stock market turbulence The domestic financial markets, particularly the currency market, are impacted by the volatility in the global financial markets. Inflation, central bank monetary policy decisions, and global political conditions all have an impact on how the stock market will move in the future. People believe that during uncertain times, gold will be popular and perform well. Gold had generated roughly +8% in absolute returns as of August 16, 2022. However, the returns might be significantly higher by the end of 2022. The southwest monsoon is returning to normal, and people may want to purchase more gold due to the festive mood. Consider “investing” in gold the right way this Ganesh Chaturthi by designating 10% to 15% of your overall investment portfolio to gold and holding it for a considerable amount of time (over 5 to 10 years) while taking a moderate-to-high risk. You could purchase actual gold in addition to digital gold (bars, coins, jewellery, etc.). Additionally, you could buy government gold bonds online. On behalf of the government, the RBI sells sovereign gold bonds with a face value of one gramme of gold, including buying gold bonds online. They can be sold on the stock market and have a term of 8 years (with just an exit option at the end of the fifth year that you must take on the interest payment date). Depending on the amount you invest, you may earn interest at a set rate of 2.50% per year and have the chance that it will go up in value. Or, you could buy gold bonds online. It is an open-ended fund of funds scheme that invests its capital in a gold ETF that serves as a benchmark and is tied to the price of physical gold. [B-02] Conclusion An Indian holiday that is unique among all others is Ganesh Chaturthi. The celebration of Lord Ganesha is a sign of hope for all of India, particularly for the people of Maharashtra. It enables people to let go of the past and look forward with optimism. Since Ganesh Chaturthi occurs after a year in which the economy struggled, it has special significance. People are buying less, and even though there have been many defaults, there needs to be more money. The GDP is no longer growing as quickly. Most importantly, the average person is starting to feel the effects of the downturn in the economy. This year, this festival of hope is more important than ever. You can visit Piramal Finance to learn more about these and make a good choice.
08-11-2023
Read More
Education

5 Differences between FD & Mutual Fund

Fixed deposits and mutual funds are among the most popular types of investments. Investors can achieve their objectives by obtaining both consistent and safe good returns. Mutual funds give returns that depend on how well the market does, while fixed deposits give a fixed return at a set rate of interest. Mutual funds and fixed deposits are two commonly used financial planning instruments. [B-01] What are fixed deposits? Set deposits, as the name indicates, provide investors with fixed interest rates for certain lengths of time. An FD term might last anything from seven days to ten years. In bank FD interest, compounding is employed so that you may receive interest on the interest that has been paid. Suppose a bank offers 6% interest on deposits with a three-year fixed rate, for example (compounding yearly). If you deposit 100 rupees, your account will have 106 rupees after a year. You will get 6% interest on the principal plus interest in year two, which equates to 6% on 106 or 6.4 rupees. Compounding is what led to the extra forty pence. The dropping interest rates are concerning, mainly for seniors who invest a significant percentage of their money in FDs. Over the last 25 years, the FD interest rate has been secularly falling. In response to COVID-19, banks and the RBI jointly reduced interest rates on fixed deposits. Following taxes, FD interest rates can hardly keep up with growth. The amount of tax on the FD interest depends on the depositor’s income tax band. When FDs are compared to mutual funds, there is no tax indexation advantage since the FD interest rate is set during the FD. There is little safety against rising interest rates because of the low interest rates on fixed deposits. What are mutual funds? Mutual funds are financial vehicles created by combining the money of many members and are governed by asset management organisations. Mutual funds are stock or bond portfolios that unit holders may make choices about. Depending on the client’s financial requirements, mutual funds provide a variety of investment possibilities. Debt funds deal in the money and bond markets, while equity mutual funds mainly trade stocks. While income production is the main goal of debt funds, capital growth is the main goal of equity funds. Choose investment strategies with fund managers who have a track record of doing well over the long term. Regarding tax benefits, mutual funds outperform fixed deposits significantly. The assets that save you the most taxes are mutual funds. In equity funds, long-term gains held for more than a year are initially exempt from tax up to Rs 1 lakh before becoming taxable at 10%. 15% tax is applied on short-term earned income for less than a year. Short-term capital gains are those held for less than 36 months and are taxed in debt funds at the investor’s income tax rate. After taking into account the benefits of indexation, long-term gains (held for more than 36 months) are taxed at a 20% rate. In contrast to fixed deposits, debt funds do better. FD vs. Mutual Fund Fixed deposits are usually the investment option of choice for a variety of Indian families. 53% of the median household’s financial assets are held in bank FDs, according to figures from the RBI that were released in June 2020. Despite having a long history in India owing to the creation of the Unit Trust of India in 1963, mutual funds have only recently—in the last 20 to 25 years—become popular among individual investors. According to AMFI figures, India’s AUM of mutual funds has grown at a CAGR of around 17% over the last 20 years. Despite their rapid rise, just 7% of household savings are held in mutual funds, according to statistics from the RBI. We will contrast FD and MF to assist investors in determining whether to invest in mutual funds or fixed-income securities. Five Key Differences between Mutual Funds and FDs Returns An FD’s rate of return is guaranteed, fixed, and ranges from 6 to 8% annually. Mutual funds, on the other hand, do not have a set rate of return. The returns vary depending on the mutual fund type, market performance, length of investment, etc. For instance, long-term returns from stock mutual funds might reach 12 to 13%, while those from debt funds can range from 7 to 9%. Risk Fixed deposits, or risk-free investments, offer guaranteed returns, thereby eliminating risk. On the other hand, mutual funds provide various risk levels based on the asset class, the length of the investment, and market volatility. The results are hazy and might alter over time. However, mutual funds also provide better returns than FDs. Investment Techniques You may open a fixed deposit with a bank or an NBFC. When the account is established, a single lump-sum gift is permitted. Contrarily, mutual funds may be opened directly with the organisation that manages them or indirectly through a broker. Mutual funds also provide two ways to invest: as a single contribution or via SIPs (systematic investment plans). Withdrawals Withdrawals from fixed deposits only provide a small amount of liquidity. They have a set tenure, and fines punish early withdrawals. However, there are no early withdrawal fees, and mutual funds have a high degree of liquidity. When you redeem your money, an exit load could be assessed. Your income is increased by the interest you get when your fixed deposits mature. It is taxed based on your tax bracket. Funds from mutual funds are taxed quite differently from other forms of income. Depending on the holding period, capital gains are subject to short-term or long-term taxation. Influences of Inflation To combat inflation, more than just fixed deposit yields are required. Inflation eats away at your money. In a situation with substantial inflation, you would get a negative return. In addition, an FD’s interest rate is decided when the deposit is established and fixed. Mutual funds, however, could provide inflation-adjusted returns. [B-02] Conclusion You may choose between mutual funds and fixed-income securities after taking into account your particular demands and financial goals (FDs). You may now decide based on your knowledge of the differences between fixed deposits and mutual funds. If you want to invest your money for future use safely, it is better to choose an FD. Also, even though mutual funds are riskier than FDs, the rewards might be large. To learn more about these, you can visit Piramal Finance for more details.
08-11-2023
Read More