What is Credit Score? Why it is important in getting bank loans

Credit Score is the key for getting a Credit Card or going for a housing loan. Your credit score slips down and opportunities for further credit gets affected if repayments of loans are irregular or the cheques you issued bounce back. Not only that, frequent contacts with banks for loans also influence your credit rating marks.

Revised Interest Rates on Savings Schemes and Fixed Deposits

Small investments occupy special importance in personal financial planning. Confidence in their security and guarantee in the returns on the investments is the main reason for it. Some investments may be for getting income tax exemption. Many people like to invest in Public Provident Fund (PPF) and National Savings Certificates (NSC). Over a period of time, they encourage for long term savings in future.

However … from now on, the return gets reduced to some extent. From the next financial year i.e., from April 1, 2013, there are slight changes in the interest rates in these schemes. Basing on Shyamala – Gopinath Committee recommendations, the interest rates on these schemes will be periodically reviewed and changed according to the changes in the interest rates in the market. The rate of interest will be announced at the beginning of the financial year.

Details of Changes in Interest Rates from 1^st April, 2013

Stock Market - How to choose a Brokerage House to open an Online Trading Account

Online Trading – wisely open a Demat Account

Stock market Trading is quite easy nowadays compared to earlier times. Allotting time to go to the broker, handing over a cheque to him…in case of need, again going to him for getting cheque… for trading in shares, ring up and wait – these are the routine tasks for people dealing with share market these are the things of past. To avoid such teasing moments, there is a way out and it is Online Trading. More and more people are availing this online trading facility in Stock Market.

How much Insurance you should buy to live a relaxed life?

How much really you need insurance on your life …

Enough to cover. Ten times your annual income – these are the interpretations generally financial experts suggest for insurance. Then what is ‘enough’? How to calculate it? When going for insurance, what basic points you need to take into account. Let us explore the matter.

If you are asked whether you have life insurance policies, instantaneously you will say “Oh ! I have four or five of them”. In fact only a few people analyse whether they do have sufficient life coverage. Generally people go in for insurance for getting Income Tax rebate or just to satisfy a friend’s suggestion or pressure exerted by somebody. For getting sufficient financial protection to the loved ones in the event of happening of an unfortunate incident, as a person owning such responsibility, one will have go in for adequate insurance. The sum assured in a life insurance policy depends upon a number of factors. Age, annual income, number of dependents, expenditure, housing and vehicle loans, other loans, savings, investments, way of life, amounts needed for future contingencies – when such of these numerous facts are taken into account, then only one gets clarity as to how much life insurance to be bought.

Car Loans - Things to be considered

Car Loans – The Procedure and precautions

Car manufacturing Companies are extending warm welcome with hands wide open to potential car buyers. In tune with this, Banks and Non-Banking Financial Institutions are coming forward with different types of vehicle loan facilities. Before we get attracted to the welcomes or facilities, some important pints are to be taken into consideration.

Buying Car for the First Time? Know the basic guidelines

Buying a Car is an art!

Car was a luxury in the past. Now it is a necessity. Car Owner numbers are multiplying day by day with liberal Bank loans even to middle class common men.  A number of points are to be taken note of at the initial stage of selection, for keeping a Car in fit condition for a reasonably good period of time, when you go to buy a car paying lakhs of rupees. Proper selection will give you the pleasure in driving it.

Get more Tax Rebate with Sections other than Section 80C

Income Tax Exemptions – a timely alert

Tax Exemption means for many people it is Section 80C only, but in fact there are many tax exemptions available in the Income Tax. Act.  Interest paid, health care expenses and some types of investments made within the IT Act provisions are also eligible for IT exemption. Let us get acquainted with them.

Income Tax exemption is available to individuals or to Hindu un-divided families up to one lakh of rupees under Section 80C of the Act. In case, you have already invested some amounts, just review them. Remember that tax planning also is an integral part of your financial planning. Check-up whether you have still some more investible funds for getting the tax exemptions. Note that such amounts should be invested before 31.03.2013.