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Fixed deposits (FD) are a simple and secure investment choice for senior citizens. It is a non market linked investment that allows its investors to invest a lump sum amount and get returns in the form of interest. Check out the interest rates for 1-year senior citizen FDs of State Bank of India (SBI), HDFC…
Retirement fund body EPFO’s net new member additions increased 9.07 per cent to 18.53 lakh in August, compared to a year ago, according to payroll data released on Sunday. EPFO enrolled around 9.30 lakh new members in August 2024, representing an increase of 0.48 per cent from August 2023, a labour ministry statement said. This…
18X15X10 SIP Investment Formula: There are numerous options in the market for building a strong retirement corpus. One highly effective strategy is investing in mutual fund SIPs. If you are above 40 years of age and are still aiming to accumulate more than Rs 1 crore for retirement, you can consider the 10X20X15 formula for…
PPF Investment Strategy: For those who prioritise safe investments and seek to grow their wealth over the long term, the PPF is an excellent option. Investors can contribute between Rs 500 and Rs 1.5 lakh annually, allowing flexibility based on individual capacity. The PPF matures in 15 years, currently offering an interest rate of 7.1…
There are two types of investments that investors can opt for, market-linked and non-market-linked. Market-linked investment options may offer higher returns than non-market-linked ones, but they also carry the risk of performing poorly when the market plummets. On the other hand, non-market-linked investments are those that do not rely on equity market performance. They involve…
IIFL Finance Gold Loan: IIFL Finance is offering gold loans at 0.99 per cent interest rate per month with zero processing fees until October 19, 2024, under its ongoing Gold Loan Mela. According to the official release, one of India’s leading non-banking financial companies (NBFC) aims to provide affordable loans to individuals in need of…
The country’s biggest mutual fund SBI Mutual Fund has launches the SBI Nifty India Consumption Index Fund. The new fund offer (NFO) akin to the IPO offer will be launched for public subscription on October 16. An opportunity to invest in Nifty India Consumption index, is designed to reflect the behaviour and performance of a…
Chief Minister Sukhvinder Singh Sukhu announced 4 per cent DA for the employees and pensioners of the State benefitting 1.80 lakh employees and 1.70 lakh pensioners from 1st January, 2023 thereby bearing an extra burden of Rs 600 crore per year on the State exchequer. In addition to this, the Chief Minister announced that the…
When applying for a loan, most people focus on maintaining a good CIBIL score. While the CIBIL score is crucial, banks also consider other factors before approving a loan. One such factor is the Debt-to-Income (DTI) Ratio, which can significantly influence your loan application. If your DTI ratio is high, the bank may reject your…
Top Large Cap vs Top Index Fund in 3 Years: Large cap mutual funds invest most of their money in large cap companies. These firms, ranked from 1st to 100th in terms of market capitalisation, are fundamentally strong and can face market fluctuations better than mid cap and small cap mutual funds. As per Securities…