Home Loan Offer

Bajaj Finserv Home Loan Flash Sale: An Exciting Offer You Cannot Ignore

If you are planning to buy a home, then this is the perfect time to apply for a Home Loan as Bajaj Finserv is back with a special Home Loan Flash Sale. This limited period offer will last from 25th to 30th April and help you achieve the elusive milestone of buying your dream home.

Whether you are a first-time home buyer or wish to transfer your existing Home Loan’s balance amount to enjoy the benefits of lower interest rates, Bajaj Finserv has a pretty awesome Home Loan offer for you. You can apply for a Home Loan or transfer of your existing Home Loan, anytime from 25th to 30th April and avail of the fantastic offer lined up especially for you.

An Offer You Cannot Refuse

Bajaj Finserv has come up with an amazing offer on Home Loans:

If you opt for a Home Loan amount of Rs.30 lakh and above, you will get a Prepaid voucher worth Rs.15,000 and if you apply for a Home Loan amount of Rs.20 lakh to Rs.29.99 lakh, you will get a Prepaid voucher of Rs.10,000.

But remember, you need to apply for a Home Loan from Bajaj Finserv between 25th to 30th April to avail this offer.

Best Home Loan features

Buying a home is one of the most important decision in your life, and you should take extreme care when it comes to applying for a Home Loan as you don’t want a loan that puts unnecessary strain on your finances. And that’s a good enough reason to opt for a Home Loan from Bajaj Finserv.

Bajaj Finserv Home Loan comes with a number of handy benefits like instant approval, which means your application will be processed and approved within 5 minutes. The loan also comes with benefits like 3 EMI free months, so that you get some time to divert your funds towards setting up your home and plan your finances better.

If that hasn’t convinced you, wait till you hear about some of the other customer-friendly features offered by Bajaj Finserv.

Easy Approval and Disbursal

Bajaj Finserv lets you apply for a Home Loan online without leaving the comfort of your home or office. If you fit the Home Loan Eligibility Criteria, your loan will be approved within 5 minutes and their representative will get in touch with shortly after that.

Also, if you have used your own funds to purchase a house in the last 12 months, then you can opt for the refinance option offered by Bajaj and avail a loan amount that’s less than or equivalent to the registered value of your property.

Transform Your Home to the Home of Your Dreams

When you’re buying a new home, you don’t just think about the cost of the house, but also the home improvement charges. For example, you might want to repaint the entire house or buy some new furniture. Bajaj Finserv understands these needs and hence offers a customer-friendly Home Loan deal. So, if you’re buying a ready-to-move-in property, you can also get an additional amount which can be used for home improvement. This saves you from the trouble of applying for another personal or home improvement loan.

This amazing offer is valid only from 25th to 30th April, so hurry before it’s too late!

Apply for Home Loan Online Check your Home Loan Eligibility

Confused about your Used Car Loan repayment schedule? Read this

Confused about your Used Car Loan repayment schedule? Read this

Rahul Verma was confused about the repayment of his existing used car loan. He had taken a used car loan two years back. The past few months were financially hard for him and he missed out on two of his equated monthly installments or EMIs. His lender asked him to get his amortization schedule online through the website and make necessary payments. Rahul was surprised at the ease with which he resolved the issue.

What is an amortization schedule?

Amortization schedule is the repayment schedule of your loan. It is a table which contains the repayment details of the loan. The components of the table are as follows:

  • The month and year

The schedule starts with the month and year from which the repayment starts. With each succeeding row, the month increases chronologically representing the month in which each EMI is paid. So, if the amortization schedule starts with January 2017, it shows the month and the year from which the repayment of the loan starts. The next row shows February 2017 and the progression continues till the loan repayment tenure is over.

  • The opening balance of the loan

The next column shows the opening balance of the loan outstanding at the start of the month and year shown by the previous column.

  • The principal component of the EMI

The next column shows the amount of principal of the outstanding loan which is paid by your EMI.

  • The interest paid

This column shows how much is the interest paid through the EMI. The interest payable reduces every month when the EMI is paid and so the successive rows of this column show a reducing amount.

  • The EMI payable

The principal column and the interest column together constitute the EMI payable for the loan. The EMI remains constant throughout the loan tenure.

  • The closing balance

The last column shows the closing balance of the loan. This balance shows the amount of loan outstanding after the end of the month in which the EMI is paid. This balance also reduces in every successive month as the loan is repaid.

How the amortization schedule works?

The working of an amortization schedule is simple. The EMI remains the same throughout the tenure. Interest payments are higher in the initial part of the schedule as the outstanding loan is higher. As the EMIs are paid, the outstanding loan liability reduces thus reducing the interest payments. While the interest payments reduce towards the end of the schedule, the principal portion increases. The schedule, thus, shows the month on month change in the outstanding loan amount, the principal and interest paid and the closing balance of the loan after each EMI payment is done.

Does the amortization schedule change?

Yes, the amortization schedule changes if there is any change in the amount of the EMI paid. If you pay a lower EMI or prepay the loan partially, the amortization schedule would be recalculated to reflect the changes. The outstanding balance would be recalculated and so would the principal and the interest.

What is the importance of the amortization schedule?

The amortization schedule is important in the sense that it acts as a ready reckoner for your loan repayment details. You can instantly see the outstanding value of your loan, the principal and interest amount you are repaying in every EMI. You can also view the month in which the loan would be completely repaid. Thus, by calculating an amortization schedule you can easily understand your monthly outgoes towards loan repayments beforehand and also how the outgoes would affect your loan repayments.

Mr. Verma paid off the due EMIs and also made a partial prepayment towards his loan. He then made his amortization schedule and found out the revised EMIs payable by him. You can also get your used car loan and create a repayment schedule for the same. Alternatively, you can avail a personal loan for used car and get a personal loan amortization schedule.

For availing a personal loan, you can choose Bajaj Finserv and fill in the Personal Loan online application form.

Did you know? A used car loan helps you buy these 4 types of cars

Did you know? A used car loan helps you buy these 4 types of cars

The fast-paced modern day lifestyle, lack of time and far-flung destinations necessitates a car for conveyance. Thus, more individuals are investing in a car. Whether you want a budget or a luxury car, a used car loan helps you in buying any car of your choice.

Here’s a look at the four most common and popular types of cars which can be bought using a used car loan.

  1. Hatchbacks

If you are on a tight budget, a hatchback might be your preferred choice. A hatchback is a 5-seater car which has four doors and a rear door opening upwards. The rear door accommodates the boot of the car used for storing luggage. A hatchback is the most affordable type of car and is popular in the Indian auto market. In fact, with the launch of newer and attractive hatchback models, the demand for hatchbacks in India has increased.

  1. Sedans

Sedans are cars which are longer than hatchbacks and have an extended luggage space. However, like a hatchback, they cannot accommodate more than 5 people. Based on their size, sedans are further subdivided into various categories. There are mid-sized sedans, compact sedans and so on. Moreover, the price of a sedan depends on its size and brand. The Indian auto market finds many takers for sedans and so sedans of all sizes are very popular in India.

  1. SUVs

Sports Utility Vehicles (SUVs) are usually referred to as family cars as they accommodate up to 7 people. However, SUVs are primarily designed for rough terrains and are called all-terrain cars. They give an extremely smooth ride on mountain tracks and off-roads. Though SUVs are tough cars, they are popular among Indians for varying reasons. One, they are very affordable. Two, they accommodate the whole family together. Finally, they are stylishly designed and so appealing to the eye.

  1. MUVs

Multi Utility Vehicles (MUVs) are designed like vans. The cars are extremely durable, stable, reliable and have attractive looks. MUVs have a bigger chassis, have a larger luggage space which doubles up as extra seating space, accommodates 7-8 people and are cheaper than SUVs. MUVs are called so because they serve various purposes. They can be used to transport more people at the same time, carry more cargo and are also fuel-efficient.

So, what is your preference? Do you like a hatchback, a sedan, an SUV or an MUV?

With a used car loan, you can buy any car of your choice. A used car is already cheaper. Despite, if your budget constraints your desire to own a pre-owned car, avail a used car loan. You can get financing up to 80% of the car’s value. Moreover, the interest rates are competitive and affordable. You just need to have a minimum basic monthly income and be more than 21 years old to get a used car loan.

So, choose your favourite car from among the different categories of cars available in the market. Pick a hatchback, SUV, MUV or sedan and avail a used car loan to buy the used car of your choice. So, what are you waiting for? Buy your car today with a used car loan.

All your questions about Personal Loans answered

All your questions about Personal Loans answered

A personal loan is the easiest type of loan. It is easy to get, requires no security and is versatile. You can use a personal loan to meet any personal or business-related expenses. Banks and Non-Banking Financial Companies offer attractive personal loans at competitive interest rates.

The common features of a personal loan are same as that of other types of loans. There is a rate of interest, which is payable on the amount of loan you avail. The repayment tenure indicates the tenure within which you are required to pay the loan. The factors would include options for paying off the loan and the related fees and charges. Besides these common features, many borrowers have certain queries when they seek a personal loan. It is important to know all aspects of the loan before you apply for one.

Here are the answers to some personal loan FAQs–

  • Is a collateral security necessary for the loan?

A personal loan is an unsecured loan. Thus, no collateral security is required to be pledged to avail the loan. The loan is granted on the basis of your repayment capacity.

  • How soon can a personal loan be sanctioned?

Because a personal loan does not require any security, it is sanctioned easily and quickly. The actual turnaround time of loan sanction varies from lender to lender. However, a personal loan is, usually, sanctioned immediately after a successful loan application. For a successful loan application, the loan application form has to be duly filled and submitted along with the relevant documents. If the documents are duly submitted, the loan could be sanctioned within minutes.

  • What fees and charges are applicable for a personal loan?

A processing fee is an upfront fee that is payable when you make an application for Personal Loan. This fee depends on the lender. It is charged either as a percentage of the loan amount availed or as a flat fee. With this processing fee, a secure fee is also charged for online applications of personal loans. Once the secure fee is paid, lenders may sanction the loan instantly. Without the secure fee, the lenders tend to delay the loan.

  • Is an additional loan available if there is a shortfall of funds?

If you run out on loan funds, you can avail additional loan through the facility of top-up loans. Top-up loans are additional loans granted on any existing loan. However, you can avail a top-up loan only if the repayment history of your existing loan is free from defaults. Also, you will have to wait for a sufficient tenure before you become eligible for a top-up loan. Moreover, top-up loans do not require additional verification or documentation. You are an existing customer whose documents are already available with the lender. Thus, these loans may also be issued instantly.

  • Can I pre-pay my personal loan?

Prepayment of your loan means paying an amount in excess of the stipulated EMI when you have surplus cash. Prepayment reduces your outstanding loan liability, thus reducing the interest rate. This, in turn, reduces your subsequent EMIs. Personal Loans allow prepayment facility. You can choose to pre-pay your outstanding loan partially or fully. Full prepayment means that you pay off the outstanding balance of your loan before the stipulated tenure and is called foreclosure. Both partial and full prepayment might be subject to certain fees and charges.

  • Can I avail a Personal Loan even with a poor credit score?

Your credit score is the measure of your creditworthiness and your eligibility to avail a loan depends on it. A credit score above 750 is considered good and loans are easily available. If you have a poor credit score, you can still avail a personal loan. However, the loan might have a higher rate of interest and the loan quantum might also be limited.

Though a personal loan is the easiest loan, you might still have some unanswered questions. Get your uncommon personal loan FAQs answered before you apply for the loan. Thus, you do not face any surprises later. It is advisable to understand the features, benefits and personal loan interest rates and then apply for the loan. Bajaj Finserv also offers a personal loan for all your requirements. You can check the Bajaj Finserv PL online application page here.

What will be the impact of GST

What will be the impact of GST?

Many say that implementation of single goods and services tax (GST) will make India one country. It will enhance the overall efficiency by easing movement of goods from one state to another. Overall, it may add a couple of percentage points to the gross domestic product (GDP).

The GST will be implemented by 1 July 2017. Though the bill is on the verge of being implemented, there is confusion about the impact.  

What it GST?

Different taxes are charged during manufacture and consumption of various goods and services. Taxes levied during manufacture of goods and services are, usually, charged by the Central Government. However, taxes levied at the time of consumption are charged by the State Governments. The different indirect taxes levied on goods and services include Value Added Tax (VAT), Swachh Bharat Cess, Krishi Kalyan Cess, service tax, central excise tax and so on.

The GST aims to unify all these separate indirect taxes into one. All the different taxes would be subsumed by GST. Thus, the price of goods and services are expected to be revised post GST implementation.

How does GST impact your finances?

GST is expected to have varying price changes on various products. The resultant price change may or may not be favorable for the product. Let us try to stipulate the expected resultant price changes.

Sectors where GST could reduce the cost

  • Automobile – The component costs would reduce as the pricing would be competitive post GST. This would lower the cost of manufacturing the vehicle. Moreover, the retail price in different states would be uniform.
  • Online transactions – Inter-state trading would become easier through GST. Thus, the cost of logistics, sourcing the goods and services and their delivery would become easier. This would improve the online marketplace making it more attractive to customers. With an increase in online sales, the prices are expected to get cheaper.
  • Goods and services in general – With GST subsuming the different taxes, the price of goods and services are expected to become cheaper.

Instances where GST would prove expensive

  • Telecommunication sector – The telecom sector charges only a service tax of 14%. However, with GST, the tax rate is expected to increase to 18% making phone bills more expensive.
  • Jewelry – Currently you pay only 2% tax on any jewelry. However, post GST, this tax rate is expected to increase to 6%, making jewelry dearer. So, if you are planning to gift jewelry to yourself or your loved one, buy it before GST is implemented.
  • Banking sector – Banks charge a service tax of 14% on their transactions. GST is expected to increase this tax rate to 18%-20%. This would make banking transactions more expensive.
  • Cess on other goods – The Government also listed the amount of maximum cess on other goods with respect to GST. Paan Masala is expected to have a cess of 135%. Aerated drinks, mineral and flavored water could have a cess of 15%. Cigarettes would have a maximum cess of either Rs.4170 per 1000 units or 290% or both. Coal could have a cess of Rs.400 per tonne. Luxury cars and other supplies would have a maximum cess of 15% each.

The implementation of GST could, thus, reveal a mixed bag of results. Some results could be good, while others could be not so good. However, one cannot ignore the effect of GST on the economic growth of the country. With multiple taxes being removed, GST would give a boost to the GDP of the country. Thus, the impact of GST on Indian economy is expected to be favorable.

The GST will also affect long-term investments like equity and mutual funds. However, lower risk investments, like fixed deposits and PPF, might not be impacted. If you are looking for an option for fixed deposit, you can consider the Bajaj Finance Fixed deposit for easy online access.

SR-BF-FD-March2017-016- How to plan for a better financial future_edited

How to Plan for A Better Financial Future?

Raghav Ilag was earning a decent salary from his job. He was in his late 20s. So, he was not too worried about saving money. Nor did he stress about investing it for the future. He was good at his job. But his spending habits were not great. And they were getting worse. Things went fine for him until Raghav faced an emergency. All of a sudden, he needed a large sum of money at once. This made him realise that he had not planned his finances well. His friend Jagdish also had a surgery and bought a new home. It surprised Raghav that Jagdish was managing quite well despite all the expenses. Jagdish saw Raghav struggle. He offered to give his friend a few tips on how to manage his finances. By following these tips, Raghav would not have to fear an emergency again. Here are some of those tips:

1. Understand Your Income and Expenses:

What you earn may cover most of your expenses. But, you must have a clear understanding of how much you are earning. You must also figure out how much you can spend. Prepare a budget. Write down how much you might save every month. Categorise your spending and keep track of your budget. Put away some money for emergencies. You cannot take on expenses that you cannot afford. Look for ways to supplement your income. Make sure you are spending within your means.

2. Save First, Spend Later:

It may be a good idea to splurge over the weekend with your friends sometimes. But, you should not spend beyond your means. Learn good saving habits. Do not tap the cash that you have saved for unnecessary expenses. Understand where your money is going. Frivolity may not help you reach your financial goals. Write down how much you need to save every month to reach these goals. Make it a point to keep that money safe. It is good to plan for the worst situation. Try to save at least 30% of your income.

3. Don’t Just Save; Invest It:

Saving is a good idea. But this alone may not help you achieve your goals. Investing can help you make money out of the interest you earn. You can then reach goals like owning a car. You could even go on a vacation in Europe. Choose from the various investment options on offer. These include mutual funds, fixed deposits, bonds, Public Provident Fund, and real estate. Invest money and diversify your investments. This can help you earn good returns later. Buy insurance to protect yourself from financial loss in case of emergencies.

4. Easy Investment Options

Make use of easy investment options, like FDs. Invest in an FD that can yield returns when you need to fulfil your financial goals. It could be funding higher education or a vacation abroad. You can also take advantage of tax deductions on FDs. To avail this, you may need to diversify them. FDs are a good way to start investing. You can earn guaranteed returns from them at attractive interest rates.

5. Be Ready for Emergencies

Have an emergency fund that you can tap in times of need. This is where FDs come into play. You can even take a loan against an FD in the case of an emergency. FDs offer a big advantage when you take a loan against them. You still earn an interest on the amount you deposited. But then the interest rate is much lower than in normal FDs. Even so, FDs are a great way to stay protected against financial loss.

6. Increase Investments with Time and Salary Hikes

Have you got a salary hike this year? That means you have more money to save. This is a good time to increase your investments. That way, you can meet higher financial goals. Resist the urge to spend more when you get a salary hike. Invest the extra money in various financial instruments. Diversify your investments. As the years pass, your financial goals may change. You must then adjust your savings and investments.

7. Use Bonuses to Pay Off Debts and Invest More

Make a list of all your debts. These could include credit cards, personal loans, or student loans. Focus on the debts that have the highest interest rates. Pay these off when you get bonuses. This way, you can avoid paying more money in the form of interest. Try to pay off loans that have variable interest rates. These could burden you with more debt than other loans. Pay smaller debts off first. Then move on to the bigger ones. This can keep you motivated.

In a nutshell:

FDs are a good way to keep your finances in order. They guarantee returns and you can dip into them for a loan during emergencies. You could also hire a professional adviser to help you plan your finances. But these tips did help Raghav. You could benefit from them, too.

Invest in FD @8.05% High Interest Rate

SR-BF-FD-March2017-014-How FD is better than bank savings account

How Is Fixed Deposit Better Than Savings Account

Pratik Mehra had been working for many years now. He was a diligent saver all his working life. He put his money away in different savings accounts. He mentioned this to his friend, Sarthy while discussing savings for retirement. Sarthy told him that putting away money in fixed deposit (FD) is a better option. Sarthy had put away money in FDs, which helped him earn higher returns because of higher interest rates.

And that’s not all. Let’s take a look why an FD is better than your savings account:

Fixed Deposits Have Higher Returns in The Short-Term:

Invest in an FD to meet your short-term financial goals. The returns on short-term deposits are considerable. Even if you invest for a few months, you earn more than you would from your savings accounts.

Fds Have Higher Interest Rates:

An FD is a smarter alternative to savings accounts. This is because of the difference in the interest rates. Financial institutions offer higher rates for FDs in comparison to savings accounts. Your money grows more when locked in for a fixed tenure. It makes good financial sense to invest in FDs.

They Give You the Advantage of Compounding:

With FDs, you get higher returns, thanks to the effects of compounding. The interests on FDs are compounded on a quarterly, half-yearly, or an annual basis. Say, you deposit Rs 1,000 for 10 years, at 10% interest compounded annually. At the end of the first year, the balance rises to Rs 1,100. And the next year, the you earn 10% interest on Rs 1,100, i.e, Rs 110. So, your balance increases to Rs 1,210, and not Rs 1,200. Thus, your money keeps growing every year.

Senior Citizens Get Special Rates:

If you are above the age of 60, you are eligible for the senior citizens’ interest rate. This is usually higher than the normal interest rates. So, you can earn better returns on your investments.

There Are More Options to Choose From

There are many FD schemes and options from the different institutions. You have various tenure options and negotiable interest rates that you can choose from. Pick the one with the tenure and interest rate that best suits your financial needs. Choose a tenure that yields a certain amount of return to fulfil a financial goal.

You Can Get a Loan Against an FD:

You can avail loans or credit cards against your FDs. The FD acts as security. This can be used for emergencies. Your returns remain unchanged. You pay off the loan separately. It is cheaper than unsecured loans as well.

There Are Tax Benefits On Fixed Deposits:

There are no tax benefits associated with savings accounts. But a fixed deposit, especially when diversified, can offer tax benefits. If you invest up to Rs 1.5 lakh in 5-year FDs, you get tax deductions under Section 80C of the Income Tax Act. So, if you have more money, you can put it in FDs to avail a tax deduction.

The final word

You can draw your money any time you want with a savings account. You can have liquidity with a savings account. But the benefits of putting money away in an FD far outweigh the benefit of liquidity that savings accounts offer. So, make a smart financial decision. Put your idle money away in fixed deposits for better returns!

Invest in FD @8.05% High Interest Rate

7 Ways to Save Money and Plan for Future Needs

7 Ways to Save Money and Plan for Future Needs

What is the first piece of advice your parents give you when you get your first job? They say, “Don’t spend the whole salary. Save some money for the future.”

Everyone knows savings are important. You might be tired of hearing the same advice again and again. But they have a good reason for reinforcing this message.

Savings ARE important. You can take a loan when you wish to buy something like a house. But even then, you have to supply a minimum down payment.  And then, you also have to pay monthly instalments to repay the loan. This could eat up a big chunk of your monthly salary. So, yes—you need to save and invest.

Need help with your savings habit? Here are seven ways you can save money and plan for your future needs.

1.      Start Saving NOW!

The best time to start saving money is when you receive your first pay-check. Do not get into the habit of procrastination. Set aside about 10–15% of your salary for savings each month. And make sure to start saving right now. Do not delay. You should never underestimate the power of compounding.

For example, consider the case of Anish and Kunal. The two friends are 25 years old. Anish puts Rs. 2,000 each month into a retirement savings account at a 7% rate of interest. Kunal starts doing the same at the age of 35.

Now, 10 years is a huge gap. Look at their earnings by the time Anish and Kunal are 65 years old. Anish would have saved Rs. 9.6 lakh. Meanwhile, Kunal would have managed Rs. 7.2 lakh. But this money grows differently over time. Their wealth would be starkly different.

Anish will have around Rs. 52 lakh, while Kunal will have only Rs. 25 lakh. This means Anish will have earned roughly twice the amount that Kunal will earn. All because of 10 extra years.

2.      Don’t Just Save, Also Invest!

Saving is when you set aside a portion of your income. This is likely to be in your bank account or maybe as cash in your locker. However, cash earns you zero interest. Bank accounts offer 4-6% interest. However, remember—prices of goods increase every year, sometimes at an alarmingly fast pace. What costs Rs.100 today may cost Rs. 500 five years later. Your cash, meanwhile, lost value. This Rs. 100 would probably grow to Rs. 121-133. How will you afford regular products, forget about luxuries? The answer lies in investments. Options like Fixed Deposits and Mutual Funds help you earn 8-15% every year. This can more than beat inflation—you can even become wealthier.

3.      Pay Off Your Debts

Are you carrying a large amount of debt? Then work on clearing it as soon as possible. Credit card debt or college loans can become a big burden over time. Focus on becoming free from repaying the interest on the debt. You can then concentrate on saving for the future. That said, some debt can be good. For example, home loans can offer a lot of tax benefits. So, instead of prepaying such good loans, you can invest the money in high return-generating options.

4.      Set Savings Goals

An easy way to save money is by visualising why you are saving the money. For example, you may want to buy a car in the next 36 months. Or you may wish to set up a good retirement fund 30 years down the line. Create real goals with actionable timelines. These are a great way to motivate yourself to create savings.

5.      Ditch Some Expensive Bad Habits

Everybody has their own pet vices. But it becomes a problem when these habits become too expensive. Take smoking, for instance. Reya smokes a pack per day. That means she is spending around Rs. 120 each day and Rs. 44,000 per year. Imagine what else she could do with that money. It is not easy to quit smoking, but Reya tried to cut down. She used the money saved to go on vacation.

6.      Some Practical Everyday Tips

A rupee here or a tenner there can go a long way in building a good corpus. Make sure you do it consistently, though.

Anjali was spending Rs. 100 everyday buying lunch at the office cafeteria. She decided to cut costs by packing a lunch. In time, she could see her savings grow.

There are other things you could do. If you shop online, make sure to look for the best prices. You could also invest small sums of money each month in a fixed deposit or mutual fund. These days, you can start with a small sum of even Rs. 500 for investments. And do not forget to take advantage of your tax savings. The returns are worth the trouble.

7.      Look at The Long Term

The ultimate goal of saving money is to be able to afford different things in the future. You may want a big house for the family or to fund your child’s college tuition. To realise these dreams, you need to create a good plan. This is where investing enters the picture. There are many good investing options that offer great returns. A fixed deposit is one such option. It is risk-free but offers high interest rates. Investing in fixed deposits can help you accumulate wealth over a period of 20–30 years. There is the potential to save a few crores for your retirement. You could even invest in mutual funds or stocks to earn high returns. But before you venture into these options, make sure you can handle the risk.

By now, you know that savings are necessary for a smooth ride into the future. But did you know, it is equally imperative that you do it right. Make sure you avoid the common mistakes people tend to make while saving and investing.

common-mistakes-info

The bottom line:

So, set up a savings plan and start saving on a regular basis. These simple ways to save money can help you reach your goals much faster.

Invest in FD @8.05% High Interest Rate

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