Depreciation is used in the insurance industry to describe the rate at which your insurer calculates the value reduction of an insured vehicle due to wear and tear, ageing, etc. Your bike’s Insured Declared Value (IDV), which varies for each model, determines the depreciation rate. Additionally, the depreciation rate of a vehicle increases with age. Now, check all aspects of ...
The landscape of used car financing in India has undergone significant improvements in recent years, greatly impacting individuals living in Tier 2 and Tier 3 cities. Individuals who wish to buy a used car in India must also consider the right time to buy one to benefit from the best deals and explore the latest models. The ideal time to ...
You can invest in mutual funds in a disciplined manner through a Systematic Investment Plan (SIP). SIP helps you contribute a fixed amount towards your investment regularly. You can also increase your SIP investment amount for a certain duration using the ‘Top-up SIP’ feature. This article explains its functioning and how you can use a top-up SIP calculator to your ...
Every day, businesses have to process multiple financial transactions such as accepting payments from customers, paying salaries, bills, and vendors, among others. To handle these transactions effectively, businesses need a separate bank account that gives them the flexibility to make multiple transactions per day, along with other useful banking services. This is where a Current Account comes in as a ...
If you’re considering investing in mutual funds, it’s essential to understand the different types available for you to pick from. The Securities and Exchange Board of India (SEBI) has a categorisation of mutual funds to streamline the mutual fund industry. This framework provides clarity and transparency to you as an investor and helps pick the right mutual fund according to ...
Achieving financial independence is a top priority for many women. It means having enough savings and investments to support oneself without relying on someone else. This is where a women’s savings account can help you out. A women’s savings account can be a valuable tool in achieving financial independence. Such accounts aim to provide women with a safe and secure ...
There has been a significant rise in the number of users registering for a new bank account in recent times as it is more convenient for the person to keep track of their money. They could easily withdraw their money using an ATM nearby. Banks have introduced a phone banking app for their users to carry out their transactions and ...
Saving up for the future is an important part of financial planning. One never knows when life can go awry! Sure, you have a good job and a steady income at the moment. But what if things suddenly change? The COVID-19 pandemic has shown us how we should always be prepared for anything. Having an emergency fund may be imperative ...
We never know what twists and turns life can take. It is always better to be prepared for any eventuality. Insurance helps to keep us financially safeguarded against the many uncertainties of life. There are many general insurance products that help cover various aspects of our lives. From our homes to our health, vehicles, and more, general insurance is almost ...
In 2019, the number of credit card users in India was 52 million. In 2020, exactly a year later, that number shot up to a whopping 57.4 million. At the same time, if we have a look at the number of debit card users, that number had a significant drop. This is an unprecedented rise in the number of credit ...