Hazel Calvin


Benefits of a Digital Savings Bank Account

A Digital Savings Account is an online savings account that can help you avail banking facilities at the ease of your fingertips. It offers a wide range of benefits and can be opened online within minutes through a hassle-free process. With the help of a Digital Savings Account, you can get your bank account statement online, and avail banking services such as instant transfer, phone banking, SMS banking, etc. As a result of rapid digital transformation, having a Digital Savings Account has become the need of the hour. We are going to have a look at some other important benefits of a Digital Savings Account in this article.

Benefits of a Digital Savings Account

Easy online opening process

The Digital Savings Account can be opened through a seamless and quick online process. All you have to do is keep your PAN card and Aadhaar number handy and complete a few steps to open the Digital Savings Account online from the comfort of your home or office.

Earn interest

You will be able to earn interest on the balance in your Digital Savings Account. This will help you grow your money gradually with time.

Easy access

You can access your Digital Savings Account from your mobile or laptop easily. You can keep track of your transactions, check your balance, transfer funds online, pay utility bills, and enjoy online shopping with a Digital Savings Account.

Safe and secure transactions

Digital Savings Accounts have a robust security system. The two-factor authentication ensures that the account is only accessed by the account-holder. Thus, the transactions made through Digital Savings Account are completely safe and secure.

Unlimited free transfers

With a Digital Savings Account, you can enjoy the benefits of free transfers like RTGS, NEFT, and card payments.

Zero balance account

Most Digital Savings Accounts are also Zero Balance Savings Accounts. Thus, you won’t be charged for non-maintenance of the minimum average balance. You can use your money without having to worry about the minimum average balance requirement.

Investing made easier

A Digital Savings Account allows you to create a Fixed Deposit or Recurring Deposit within a matter of minutes. Moreover, you can also purchase and redeem Mutual Funds, and track your investments instantly using a Digital Savings Account.

All the above-mentioned benefits of a Digital Savings Account will surely make banking easier for you. You will be able to manage your finances efficiently with a Digital Savings Account. So why wait? Open a Digital Savings Account and enjoy the numerous banking facilities at the earliest. However, do not forget to check the credibility of the bank before opening a Digital Savings Account with it. This will help you make a well-informed decision. You can go through the existing customer reviews of the bank to get a better idea of the bank’s authenticity and credibility. Lastly, it’s advisable to settle for a bank that offers efficient customer service and round-the-clock assistance.

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Top 5 Mistakes to Avoid Before Opting for Loan Against Property

A Loan Against Property can be of great help when you require a large amount of money. It is basically a secured loan, wherein you can mortgage the property to the lender in order to borrow the loan amount. Since it is a multipurpose loan, the loan amount can be utilized for various purposes such as funding your child’s higher education, managing his/her wedding expenses, etc. In case you wish to apply for a Loan Against Property to fulfil your monetary requirements, ensure to avoid these critical mistakes as they can cost you dearly in the long run.

Avoid These Mistakes before Availing a Loan Against Property

  1. Not checking your loan eligibility

Your loan application will be approved only if you satisfy the eligibility criteria set by the lender. You can check your eligibility using a home loan eligibility calculator. Not checking your loan eligibility before applying for a Loan Against Property can lead to the rejection of loan application. Lenders usually check your age, income, existing EMIs, credit history, and the current value of your property to decide on your loan eligibility. Moreover, for processing the loan application, you would be required to submit documents such as age proof, income proof, address proof, property documents, etc. To ensure a smooth loan application process, ensure to check the loan eligibility beforehand and keep all the necessary documents handy.

  1. Not evaluating your repayment capacity

You must not forget that a Loan Against Property is a secured loan wherein your property acts as collateral. Thus, if you fail to repay the loan amount within the stipulated time, the lender reserves the right to seize your property to recover the loan amount. To avoid this, it’s better to apply for a Loan Against Property only after evaluating your repayment capacity. Also, do not overborrow, as it can be financially burdensome at a later stage

  1. Not choosing the loan tenure wisely

It’s advisable to settle for a loan tenure that works the best for you. However, opt for a shorter tenure if you foresee an increased income in near future, or you can afford to pay back the loan sooner. A shorter tenure attracts a lower interest cost.

  1. Neglecting your credit score

Your credit score not only enhances the chances of loan approval but also makes you eligible for a competitive interest rate and favourable loan terms. A credit score of 750 or above is considered to be good enough by most lenders. Therefore, do not ignore the importance of a high credit score and work towards improving it before applying for a Loan Against Property. You can boost your credit score by clearing outstanding dues, having the right credit mix, and decreasing your credit utilization ratio.

  1. Not checking the prepayment and foreclosure charges

The prepayment facility would allow you to close the loan sooner and save on the interest pay-out. However, lenders usually levy a foreclosure charge in case you prepay your loan. Ensure to read the prepayment clauses and charges set by the lender before applying for a Loan Against Property.

At Kotak Mahindra Bank, you can easily avail a Loan Against Property up to Rs 5 crores, and with minimal prepayment charges. The application process is online and hassle-free. Apply for a Loan Against Property and take care of your monetary needs with ease, today.

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How to Prepare Yourself for a Medical Emergency in 2021?

COVID-19 has infected almost 11 million people in India, as of February 12, 2021. In the face of the pandemic, it has become evident that a medical emergency can strike at any time. Apart from the physical and emotional trauma, it can be huge pressure on your finances. So, here are some steps to take to prepare yourself for a medical emergency in 2021.

Start an Emergency Fund

  • Open a savings account only for the purpose of saving for a medical emergency. Opening a savings account online is very easy. Moreover, savings account generates interest, which can help grow your funds.
  • Choose a bank that offers the best interest rates on savings accounts.
  • Regularly deposit money in this account. You can plan your expenses and set aside a small amount monthly, as soon as you receive your salary or any other form of income you may have.
  • Refrain from withdrawing money or conducting transactions from this account for non-medical purposes.
  • Keep track of how your funds fluctuate. This will help you to prioritise replenishing funds if you need to make a withdrawal for any reason.
  • Savings accounts have much higher liquidity than other investments like fixed deposits or mutual funds. This means you can access the funds at any time and don’t need to borrow money or make an overdraft on your investment.

Weigh the Costs

  • Study your family’s medical history and consult a doctor. For example, if you have a family history of heart disease, consult your doctor regarding the steps to prevent it.
  • Make a list of the most common medical emergencies and reach out to a hospital to understand the estimated cost for each. This should give you a rough idea of how much you need to save in your emergency fund. Start eliminating unnecessary expenses so that you can achieve this target quickly before an emergency occurs.
  • Improve your health by eating a balanced diet, exercising regularly and getting enough sleep. Encourage your loved ones to make the necessary lifestyle changes.

Get Health Insurance

  • Health insurance is an excellent option to help you cover most of the costs in case of an emergency. This can be supplemented by your savings.
  • For a low premium each month, health insurance will pay most of your medical expenses.
  • Different health insurance plans cater to different types of emergencies, like accidents, heart disease, general health, etc. Therefore, it is important to consider your family history and your lifestyle before choosing an insurance plan.
  • You can also include your immediate family in your health insurance policy.

Consider Personal Loan as a Backup Option

  • Sometimes, even the best preparation is unable to meet the demands of the situation. In such a scenario, consider taking a personal loan.
  • Check the interest rate and loan tenure and read the loan document carefully before going ahead.

During a medical emergency, you would like to focus on getting better, rather than having to worry about arranging funds. So, take the necessary steps like opening a savings account that offers high interest, and be prepared for any contingencies.

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How to renew bike insurance using bike insurance app?

Riding a bike is a truly underrated experience. The feeling of the wind on your face is a freeing experience. Moreover, it is also a practical vehicle. Using a bike to travel, means that you can weave through traffic while others have to be stuck until it clears.

However, for all its great qualities, riding a bike is very dangerous. Even after wearing protective gear, there is a chance that a bike accident can lead to grave injuries. Moreover, unlike a car, a bike is an open vehicle. This means that a single error in judgement while riding a bike can lead to major consequences for you and your two-wheeler. Hence, it is ideally recommended to drive safely. However, there is no harm in being as secure as you can at every step. Hence, to avoid the financial and emotional burden of having your bike damaged, you can get a bike insurance policy.

However, any good thing in life requires effort and care. This applies to bike insurance as well. Once you have bought a policy, you will have to make sure that it performs to the best of your needs.  This includes renewing it on time. However, being the lengthy process that it is, there is a chance that you may miss the due date of your bike insurance renewal.

Missing the renewal due date

A bike insurance is like a subscription. It needs to be renewed each year before a specific date. This renewal is done by paying the right amount of premium before the due date. However, if for some reason you fail to renew your policy before this date, the coverage mentioned in your policy is considered expired.

Once, this coverage is declared expired, you will be given a grace period by the insurance provider. While every insurance provider has a different operational policy, most insurers offer a break-in period of 90 days. During this period of time you can restore your coverage as it was by paying the premium and renewing your policy. Until you do so, you will not have any benefits of the policy to redeem. As a worst-case scenario, if you miss this opportunity as well, your coverage becomes null and void.

At this point, you lose coverage for own damages as well as third party liabilities. This firstly means that in the case of an accident you will be completely unprotected against the financial burden of repairs.  Secondly, you will have to cover for the legal and the financial liabilities for any harm you cause to a third-party or his/her property. The worst part about losing your bike insurance policy is that you cannot legally ride your bike on the roads. If you are caught riding without a valid motor insurance policy, you will have to pay a fine.

Renewal of policy

The purpose of insurance is to make things better and simpler. In that spirit, many insurance providers have launched apps that can offer you a whole host of benefits. However, the best these apps do is give your better control over your policy and everything related to it. This includes policy renewal.

Firstly, you can keep track of the due date of your policy in the app. Knowing what the due date is you can plan your renewal well in advance. This includes taking a look into how much coverage you need, how much you have, and what changes are necessary to bridge the gap. This time can also be used to look into ways that you can lower your premium.

Once the preparation is over, the first thing you have to do is log into the app. After logging in, you have to select the policy renewal option. At this point, the app will require your policy details. Adding the policy details will take you to the step where you can change the coverage of your policy to your liking. With the change of coverage, you will also see a change in the premium. The last step is to make the premium payment. Select a payment mode and complete the payment. Once done, your policy will be instantly renewed and you will receive the new policy documents through email or other digital means.

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5 things to know before you get a DTH connection

DTH only entered the Indian market a little over a decade ago, but it has managed to shift the norms of television viewing in the country in that period.

In today’s world, India has around 5 DTH operators, but with so many different deals on the market, even that is too much for a new DTH customer.

Things can get a little overwhelming with all the different payment partner choices that offer you a link at a discounted rate.

It’s best to do your homework before being enticed by tempting deals to get the most out of a DTH connection.

Below are five things you must know about a DTH connection in India.

  • Set-Top Box

The quality of channels you will be able to view is largely determined by your set-top box.

However, the type of set-top box you should choose is determined by the type of television you have.

Choose a Standard Definition box if you have a tube TV.

If your television supports 4k resolution, get a 4k DTH connection.

Choose a High Definition box if you have an LCD or LED TV.

Also, keep an eye on the warranty. Most operators give a warranty of one year on the set-top box itself.

  • To Buy or Rent?

If you need a connection for a short time or don’t want to deal with the hassle of buying and maintaining a set-top box, you can rent one from your operator. A few dth operators, such as Sun Direct DTH, have actively recognized this issue and offer more affordable options for renting out a box on both a long and short term basis. (1)

  • Packages, and their Pricing

The majority of people compare the initial cost of STB when deciding whether or not to purchase a DTH connection.

What you should think about are the two points listed below.

  • The package that includes all of the channels you want to watch.
  • The monthly cost of that package.

DTH operators offer basic packages starting at INR 99 and going up to INR 800.

Some operators, such as Sun Direct DTH, even provide basic plans for 49/month for 148 channels, and even free basic packages, that include all Sun channels. So, you can get the Sun Direct recharge done accordingly.

  • Services

 As a DTH subscriber, you will need customer service assistance regularly for issues ranging from account issues to set-top box realignment.

Nobody loves being on hold for hours, do they?

The best way to assess how good a service is to keep track of how quickly they respond to your inquiry.

  • Lastly, Payment

You can still pay each installment in cash the old-fashioned way. You can also your DTH recharge through reputable online platforms such as Airtel Payments Bank.

We’ve double-checked everything. Online payment is safe and convenient because you can get cash back’s and special deals for each transaction.

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All You Need To Know About Tax Accountants

If you are a student of commerce and are planning to move ahead with pursuing a course in accounting, you should learn about the duties of a tax accountant. There are several titles for the people working at the various posts of the finance departments. However, you need to choose yours according to your place of interest and by considering your skills and strengths.

So Let Us Find Out A Bit About The Tax Accountant And What Role They Play

Tax Accountants

They offer advice to their clients which can typically be an individual, government agency, private companies, or even a non-profit organization that are going through certain financial and tax-related issues. Birmingham tax accountants are extremely skilled persons who can prepare tax documents by following the most appropriate strategies for their clients.

What Are The Responsibilities Of A Tax Accountant?

·        Examine The Financial Statements

Before starting with the complete process of handling taxes, the tax accountants try getting a complete idea about the financial condition of the client. And further, they prepare the tax return documents accordingly. The tax accountants make it a point to give a read to all the statements which are related to the financial position of his client to confirm that those are made by following the tax laws and regulations. And also to make sure that it offers a complete view of his customer’s financial condition in the right way.

·        Create Budget Plans

One of the main roles which these tax accountants play is to suggest to their clients with ideas to cut down their daily expenditure and also to try to increase the income. They also do make their clients stick with a certain budget plan which reduces the rates of confusion related to the financial situation.

·        Organize Financial Records

The Birmingham accountants do not only take care of and prepare the tax return documents of their clients, but they also do help their clients to organize their economical records and statements. And that allows these individuals to store the clients’ info in separate files and use it at a time of emergency when you need to show any such document within short notice.


There are several sectors where these professionals opt to work. From the accounting department to the booking and payroll services industry, the tax accountants can easily change their job as the demand for their services is very high.

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Forex Trade Signals – The Very First Stop For Beginner Forex Traders

The greatest mistake that newbie Forex traders make is the fact that they are able to effective pick winning currency trades simply because they read a few Forex e-books, blogs, or forums. The truth is, it requires years (and countless currency trades) to be able to gain sufficient understanding and experience so that you can accurate pick how currency pairs will behave.

What exactly options do newbie Forex traders have?

The solution: forex trade signals.

Forex trade signals are specific buying and selling instructions that tell Forex traders which currency pairs to purchase, what cost to purchase it at, and which cost to market it at. All emotion and thought is taken away in the equation. That is good since newbie Forex traders just can’t make lucrative currency trades (yet).

Forex trade signals originate from websites that employ experts with experience and who’re while using latest Forex software to properly evaluate historic and up to date currency cost data. Their full-time clients are to precisely predict the direction that currency prices will require. Then they provide these Forex trade signals to people which have agreed to receive them.

Now, this is not free information. We’re speaking about experienced experts using very costly software. That being stated, Forex trade signals could be incredibly valuable to newbie Forex traders.

It’s similar to getting a mentor with you. Every day, he analyzes the apparently overwhelming quantity of data, and transmits an email of the items he believes are the most useful trades available. Now, it’s not necessary to act upon every trade signal he transmits you. However if you simply are just like the normal beginner trader, you might not have confidence using the potential trades looking back at the out of your computer monitor.

Utilizing a Forex trade signals provider (like Forex Ambush 2.) will maximize your odds of success with currency buying and selling. Signing together is quite simple and memberships run monthly which means you aren’t locked right into a lengthy-term contract. And on top of that, websites like Forex Ambush 2. that provide Forex trade signals also allow you to test the waters by providing an effort offer. For around per week, you’ll be able to receive Forex signals and find out should you take advantage of their service.

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In and Outs to become a Effective Forex Trader

Forex buying and selling has several benefits mounted on it that may be exploited by anybody searching to produce substantial wealth by working online. There’s both versatility and convenience connected with Forex buying and selling. To become effective Forex trader you should understand your objectives and goals associated with employed in the Forex market. Forex buying and selling isn’t meant just for big organizations or several traders. Anybody with fundamental skills associated with buying and selling within the Forex market can make wealth on their own regardless of their whereabouts. Nowadays you just need your personal computer and web connection to obtain began with Forex buying and selling activities. You’ll be able to earn a complete time earnings through Forex buying and selling by obtaining the required skills associated with buying and selling.

However, prior to embarking on the road to be a effective Forex trader make certain that you simply keep the fundamentals of Forex buying and selling inside a proper manner. Failure or success within the Forex market depends upon the type of skills acquired on your part through training or buying and selling activities. You should determine whether you’ve sufficient appetite for Forex buying and selling before involved in the Forex market. Like a Forex trader should you stay with a particular time zone it’s advised to utilize quick buying and selling moves to achieve sufficient earnings every day. This can require some kind of learning by calling experts who make wealth in the same way.

If you’re somebody that cannot spend considerable time while watching buying and selling screen and also be a effective Forex trader, it’s advised to utilize swing buying and selling activities regularly. In order to be effective within the Forex market you should comprehend the technical setups for all these styles. That method for you to get the fundamentals so as and build up your own techniques for the street ahead. Possess a obvious knowledge of your risk profile. If you can’t tolerate risk for several types of buying and selling then it is advisable to steer clear of the same. Attempt to get involved with buying and selling activities according to your present risk profile. Try to undergo different strategies whenever you open a small Forex or demo Forex account.

Get accustomed to the marketplace volatility and discover whether your look of buying and selling is working. It is really an important requirement of being a effective Forex trader. It is just during swing buying and selling activities that you simply consider keeping your trades for extended duration. There’s simply no need to bother about large capital on your initial buying and selling period. A tiny bit of investment will help you to build a fortune in the process. This will help you to develop sufficient experience without taking a loss because of any wrong moves. Thus, success in Forex buying and selling relies upon the type of set of skills you develop through buying and selling activities, which could be either of technical or fundamental nature. There’s not short-cut to success also it takes persistence to know and cope with the reasons of Forex market.

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Beat the marketplace With Managed Forex Accounts

Following the stock marketplace crash of history 12 several weeks, a number of people are venturing in to the forex market, and therefore are searching at managed forex accounts like a vehicle to gain access to this more and more well-loved asset class. In the following paragraphs we take particular notice at managed forex accounts, and explain why forex ought to be a part of neglect the portfolio.

Forex buying and selling may be the buying and selling between banks along with other institutions or buying and selling between individual parties where the first is acquiring the currency along with the other having to pay for this. There is no centralised exchange, for shares, along with other goods for example oil.

From the start 35 years back, the currency marketplace has grown to become the biggest as well as the most powerful financial market worldwide and it is growing. Buying and selling occurs between central banks and large banks, too as people, hedge funds, corporations, currency speculators, along with other parties.

A brief history of forex managed funds is a reasonably recent 1. Using the recognition from the currency buying and selling company, it’s really no question a lot of consumers are becoming thinking about it. By having an average every single day turnover that will reach to trillions of dollars, who’d not want to get their hands within the organization? Purchasing the foreign currency marketplace could be a positive champion due to the want for buying and selling in currencies for example pounds, dollars, plus a much more.

Thus together with the increase in recognition from the currency companies are an upswing from the ideal vehicle to gain access to that marketplace, the managed forex account. Investors which have forex managed funds will come across that getting them makes going through the enterprise a great deal extra convenient and fewer difficult. It let you measure the forex marketplace situation even if they are from the pc screen.

One of the leading the best-selling forex market is basically that you usually can profit with managed forex accounts. Whereas with mutual funds, the roi is generally determined by the direction of the stock exchange. Whether or not the shares are going lower, you might still make money from what’s occurring inside the currencies market.

Forex managed funds could make steady profit and reduce loss due to the fact of superior risk management. An entire return of investment, and normal profits, despite the declining companies are regular with managed forex accounts. With managed forex accounts, investors possess a totally hassle-free investment when it comes to coping with this currency exchange market. With this selection, managed forex accounts are totally helpful for the newbie inside the organization. An investment is safe due to the fact just the investor has got the accessibility forex managed funds which can be checked on the an every day basis.

Since buying and selling online is very well-known, opening a forex account is a reasonably painless procedure. It generally depends upon the broker or investment manager that you made a decision to open managed forex accounts with, truly it comes down to a first deposit of $5,000 or more. There will probably be the the least documents to accomplish, although to conform with anti-money washing rules, you will need to present proof of your identity and prove of address. The trades in your forex managed funds will probably be inside your name only, not from the broker or those of an investment management corporation. Everything they are doing is read the market, determine the popularity making the trades for you personally. They’ve got no use of withdraw out of your forex managed funds.

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How Price is Decided in Options Trading

Option is a legal contract between buyer of the option and its seller. Option is transacted in the form of buying and selling securities at an agreed price in a certain period of time. This flexibility is unique feature for options trading. Another unique aspect about options is you do not need demat account opening for options trading. Although for convenience, most traders prefer demat account to keep track in their portfolio.

Options is quite similar to insurance that you pay an amount of money in order that your property is protected by the insurance company. The difference between both of them is minor, based on their mode of operation; option can be traded whereas, insurance policy cannot be transferred or traded. There are two types of option contracts; call options and put options. We can buy call option when we expect the stock price to go up and buy put option when we predict the stock price to drop. We also can anytime sell call option if we predict the security price will drop sharply and vice versa if we want to sell put option. Usually, option is counted by units of contracts – one contract is equal to 100 unit options. 1 unit option protects 1 unit share. So, one contract protects 100 unit shares.

Before starting online trading in options, you must know most important factor that valuates the options. The trading is done based on the strike price.

What is Strike price in Options Trading

Strike price is the value that is agreed by both traders; buyer and seller of the option to deal with. That means if the determined strike price of the call option is 35, seller of this option abides to sell stock at this price to the buyer of this option even if the market price of the stock is higher than prevailing 35 if the buyer exercises the option. Buyer of this option is free to buy stocks with a price that is lower than the market value.

If the current market price is ₹39, the buyer will earn ₹4. If the stock value is lower than the strike price, buyer will try to hold the option and leave the existing option to expire worthless.

For strike price in put option, buyer of the option has the obligation to sell the stock at the strike price to the seller of the option. For example, if the put option strike price is ₹40, seller of this option abides to buy the security at this price from the buyer if he or she executes the option even if the market price is lower than this price. If the market is ₹35, the option buyer will earn ₹5. At first glance, it seems that a lot of transactions are involved; but actually, seller of the option will not purchase a security and sell it to the buyer.

The broker firm will perform all the transactions but the extra money incurred to buy the security has to be reimbursed by the seller. This means, if the seller loss ₹5, the buyer will earn ₹5.

Remember, in some cases, when the stock value equals the strike price, the option has apparently zero value.

This is how price is decided in options trading.

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