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Financial food for thought
When it comes to investments, the majority of Indians prefer risk-free products that offer steady returns, irrespective of market conditions. To meet the investment objective of conservative investors, banks offer two unique investment products – fixed deposits (FD) and recurring deposits (RD).
Different financial goals require different savings approaches. Short-term savings are ideal when you are in need of liquidity as well as interest earnings. If your financial goals have extended deadlines, a long-term savings option could work perfectly.
Investing in a fixed deposit (FD) or a public provident fund (PPF) requires some basic know-how on an investor’s part. Often, investors get confused between FD and PPF. It could be dangerous to rely on recommendations from other investors considering every individual has his or her own financial goals.
Old age is the time to relax and enjoy life. Planning for a peaceful and joyful retirement is a smart move that you make when you are young. There are several saving schemes and insurance plans that can help you save money for old age. National Pension System (NPS) is one of the saving schemes that offers several benefits. NPS subscribers can avail an additional tax benefit of Rs. 50,000 under section 80CCD(1B) of the Income Tax Act. Are you interested to know more about the saving scheme? Read on!
Both Fixed Deposit (FD) and Recurring Deposit (RD) are safe investment avenues which are ideal for individuals who look for risk-free returns. Though all the banks offer the same rate of interest on both the investment schemes, many people find themselves in a confused state to make the best choice between the two.
Kannan’s wedding was fast approaching. His hard-earned savings wasn’t sufficient to cover all the expenses of his wedding preparations. Having no time to think of the best way to gather money, he applied for a personal loan in a hurry. Being the first-time borrower, the lender agreed to sanction him a loan at an interest rate of 17%, which he immediately accepted it due to the circumstances.
While it is good news for those looking for fixed deposits to be a short-term investment option, others might not be so lucky, it is widely expected that the lending rates too would go up, especially those with home loans would be required to pay more in the form of EMIs. The increase in the lending rate is to tighten the liquidity in the market.
To invest in the right mutual fund scheme, one must have the perception of the types of mutual funds available and which are risky and low-risk profile funds. They can be classified into various categories based on structure, assets and investment objective.
Mutual fund is one of the popular methods of investment that offers high returns in the long-term. If you have invested in a mutual fund, you might want to know how to redeem the amount invested at a certain point of time. Moreover, it is also vital to have substantial knowledge about when you can redeem your funds and when not to do it.
Mutual fund investment has become a popular financial instrument for many people post the push given for investment after demonetization. With the advent of online facility to manage the mutual fund accounts has popularized this instrument, awareness and educational programs too have helped.
Any saving scheme offered by post office gives a better return and high rate of interest when compared to the schemes offered by banks and NBFCs. For individuals who look for safe investments, choosing a saving scheme from post office based on the need would be the right thing to do. Anyone can invest as low as Rs. 10 through the schemes which is impossible through other institutions. Following are the post office saving schemes and interest rate given against them.
Investment in mutual funds is the most talked about topic in finance in recent times. There are varied financial vehicles where you can park your money and earn a handsome return after several years. Mutual fund is one of them that allows you to invest and redeem the savings after a specific period. A lot of people in India hesitate to invest in a mutual fund purely for the reason it is subject to market risks. Some are eager to invest but still do not know how to go about it.
A tree does not bear fruit in a day. Likewise, any investment plan requires sufficient amount of time to get good returns. For a responsible and disciplined saving, Systematic Investment Plan (popularly known as SIP) is a wise approach to begin your long-term investment plans.
The banking sector has embraced digitalization which come with its share of misgivings. Do not think that is an episode of Black Mirror but there is a serious risk to how we share data online especially how we financial information.
Little drops make a mighty ocean. From childhood we have been taught to save for the future. Opening a savings account has become a necessity once you cross 18 years of age to manage your own finances. However, there are other high yielding instruments that you do not want to overlook as an alternative option to savings account.
The habit of saving was evident throughout the history of mankind as we read that people stored grains, precious metals and weapons in temples and palaces in the earliest civilisations. In the current scenario, banks have become the commercial centres that help people save their earnings.
Irrespective of the income you earn every month, you can save a small part for a prosperous future. There are several methods to invest your money safely without affecting your monthly expenses.
When you have a surplus amount in hand, you might look for various options to invest your money. While some of the investments can be scary, Fixed Deposit is a safe method of investment with a guaranteed return after the date of maturity. It is one of the most popular and traditional investment instruments.
Is it a good time to switch money from FD to mutual funds?Indians are very conservative when it comes to money. The importance of saving money is instilled from childhood and for most the best way to save money is through fixed deposits (FD). The reason FDs occupy this sacred space of trust in Indian families is because it is secured, i.e. the banks guarantee your capital invested. So, whenever they got a bonus they invested that money in FDs. The other main reason f
Should You Prefer Smaller Banks for Fixed Deposit Investment?Fixed deposit is one of the best saving instruments to obtain higher interest after the maturity date. Many choose Fixed Deposit over other saving methods as it offers safety and surety of returns. In recent days, well established-banks have lowered the interest rate on Fixed Deposit schemes and on the contrary the new and small banks provide higher interest rate. If you are wondering whether the
All You Need to Know About NRE and NRO Accounts and Taxation in IndiaIndia has the largest diaspora population in the world with more than 16 million people living outside the country. Being a Non-Resident Indian(NRI), the income earned by you outside India is exempted from tax. However, is the interest accrued from such income taxable in India?Read on further to know more about a Non-Resident External (NRE) and Non-Resident Ordinary account and taxations in India.
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