Hazel Calvin

AM Bank Chairman Marwan Kheireddine has acknowledged the challenges currently facing Lebanon, including the calls from some activists for the bankruptcy of local banks due to blocking their deposits. However, Kheireddine disagrees with this approach. He points out that in Lebanon, like in other developed countries such as the United States, there is a deposit guarantee institution owned by the state that protects depositors up to 75 million Lebanese pounds, equivalent to around $3,000. Therefore, if the banks were to be bankrupted, the liquidation process would prevent them from being able to repay the deposits at their fair value, ultimately hurting the depositors. Said Marwan Kheireddine, “I am completely against bankrupting banks. Depositors, in the long-term, need to be assured that they will get more of their deposits, and not less.” Marwan Kheireddine emphasizes that he is against bankrupting banks because it is necessary to ensure that depositors receive as much of their deposits as possible in the long run.

Food Insecurity is Another Factor in Lebanon’s Recent Struggles

In addition to these financial struggles, Lebanon is facing food insecurity and rising oil and food costs due to the ongoing Russia-Ukraine conflict. Lebanon imports around 85% of its consumable goods and has been impacted by the COVID-19 pandemic and the Ukraine crisis, leading to shortages and increased prices. Marwan Kheireddine says, “The Ukraine situation has increased prices in Lebanon significantly. Food prices have gone up. Energy prices have gone up. When you add that up with worldwide shortages and higher demand, plus how much of Lebanon’s products are imported, it’s a bad situation.”

According to a UNICEF survey, four in ten Lebanese youth have used funds meant for education to purchase necessities, and three in ten have had to stop their education altogether. A UNICEF Lebanese representative released a press release saying that the youth of Lebanon are tough to hit. “More funding is necessary to make sure that money worries don’t hinder our youth from getting the education and skills that are necessary to find gainful employment and to be able to contribute to the growth and financial security of Lebanon’s future,” said Ettie Higgins.

News outlet Al Jazeera reported that almost 80% of Lebanon’s citizens have to live below poverty levels. Some are surviving on minimal rations like tea and bread. However, locals are trying to repair the situation by fixing shattered infrastructure and breathing new life into Lebanese industries.

Cryptocurrency as a Possible Solution

Marwan Kheireddine believes that cryptocurrency could potentially improve Lebanon’s economic situation, but only if the country’s economy opens up to the world and its government is no longer in default. Currently, Lebanon’s economy is closed off, and there are restrictions on the movement of funds through the financial system, hindering the use of cryptocurrency on a broader scale. Nevertheless, says Kheireddine, “There’s a role that crypto could play in Lebanon, and the Lebanese people have always been leaders and early adaptors of technology. But unless Lebanon’s economy opens up, it will be hard for crypto to have a chance here.”

In the earlier days, you might have opted for Vodafone or Idea postpaid, now known as Vi postpaid, for the sheer ease of making your Idea or Vodafone bill payment, now combined as your Vi bill payment. But that’s not the case today, each of the Vi postpaid plans offered comes with a set of perks that might interest you.

One such perk that comes along with certain select Vi postpaid plans is the complimentary 1 Year Disney+Hotstar Subscription. Now, if you need a complete Premium Subscription, you’ll directly have to go to the Disney+Hotstar platform. However, if a 1-year Mobile Subscription or 1-year Super Subscription is enough for you, simply go for a Vi postpaid plan that suits your needs.

You can easily make your Vodafone bill payment, now known as your Vi postpaid bill payment, after using the services including your Disney+Hotstar subscriptions. But before that, let’s take a look at all the postpaid plans that offer complimentary Disney+Hotstar subscriptions:

*The REDX plan priced at ₹1101 comes with a lock-in of 6 months. If you change your plan to any other Postpaid plan or port out of Vi or migrate to Prepaid within 6 months of activating the REDX plan, you will be charged a one-time exit fee of ₹3000.

Hence, figure out your requirements and choose your Vi postpaid plan wisely. And if you’re not someone who wants to go for postpaid, you can get similar complimentary subscriptions to Disney+Hotstar by doing your Vi recharge online as well.

As a senior citizen, you have several options available to you when it comes to saving for retirement. One option is the SBI Senior Citizen Savings Scheme, which offers several benefits and can help you maximize your savings. In this blog post, we’ll take a look at what the SBI Senior Citizen Savings Scheme is and how it works, as well as some tips on how to make the most of it.

The SBI Senior Citizen Savings Scheme.

The SBI Senior Citizen Savings Scheme is a special savings scheme for senior citizens aged 60 years and above. The scheme offers several benefits such as higher interest rates, income tax benefits, and relaxed KYC norms Digital Seva Portal.

How does the SBI Senior Citizen Savings Scheme work?

Investors can open an account under the scheme with a minimum deposit of Rs. 1000 and a maximum deposit of Rs. 15 lakhs. The deposits made under the scheme are eligible for income tax benefits under Section 80C of the Income Tax Act. The interest earned on the deposits is taxable as per the investor’s applicable slab rate.

What are the benefits of the SBI Senior Citizen Savings Scheme?

The main benefit of the SBI Senior Citizen Savings Scheme is that it offers higher interest rates to senior citizens as compared to other bank schemes. This makes it an attractive option for senior citizens who are looking to maximize their savings. The scheme also offers income tax benefits and relaxed KYC norms, which make it more convenient for senior citizens to invest in this scheme.

How to Maximize Your Savings as a Senior Citizen with the SBI Senior Citizen Savings Scheme.

The earlier you start investing, the more time your money has to grow. If you start investing at age 50, you will have 20 years until you reach age 70, when the SBI Senior Citizen Savings Scheme matures. If you start investing at age 60, you will have 10 years until maturity. The longer your investment has to grow, the more money you will have when it matures.

Invest a minimum of Rs. 1 lakh per annum.

To maximize your savings under the SBI Senior Citizen Savings Scheme, you should invest a minimum of Rs. 1 lakh per annum. This amount is necessary to take advantage of the higher interest rate offered on investments over Rs. 1 lakh. It is also important to remember that you can only make one withdrawal per year from your account, so it is important to make sure that your initial investment is enough to cover your expenses for the entire year.

Invest for the long term.

The SBI Senior Citizen Savings Scheme is designed for long-term investment, so it is important to plan accordingly. You should only withdraw money from your account when absolutely necessary, as this will reduce the amount of interest you earn on your investment over time. When making withdrawals, be sure to take into account any taxes or penalties that may apply.

Diversify your investments.

Diversifying your investments is always a good idea, and this is especially true with the SBI Senior Citizen Savings Scheme. By investing in other types of accounts, such as fixed deposit accounts or mutual funds, you can minimize risk and maximize returns. This will help ensure that you have enough money saved for retirement and other expenses later in life.

Conclusion

The SBI Senior Citizen Savings Scheme is a great way for senior citizens to maximize their savings. By investing early and often, investing a minimum of Rs. 1 lakh per annum, and investing for the long term, senior citizens can make the most of this scheme and secure their financial future.

SIP (Systematic Investment Plan) investments and lump sum investments are the primary categories under which mutual fund investments fall. Although SIPs have gained much popularity over the years, beginning investors might still need to understand lumpsum investing fundamentals fully.

In contrast to a systematic investment plan (SIP), a lumpsum investment is when an investor makes a one-time, independent investment in a specific programme.

What is a lumpsum calculator?

An online tool called a lumpsum calculator can assess the value of your lump sum mutual fund investment. You can quickly use this method to determine the value of your investment. You will usually be prompted to enter an investment amount, the investment length in years, and the estimated annual rate of return when using an online mutual fund lumpsum calculator.

Using the lumpsum investment calculator, you can determine the anticipated value of your mutual fund investments after the investment period. You can use this to determine whether your lumpsum investment will help you reach your financial objectives.

How does Lumpsum Calculator work?

This calculator allows investors to assess the expected returns on their lump sum investments. Thus, a potential investor can determine whether or not their financial goal will be met by the investment option they have chosen at the finish of the investment term.

The following are some advantages of utilising a lump sum calculator:

• You get the anticipated return for the entire investment time from it. To get a close approximation, you must include information on the investment amount, the estimated rate of return, and duration (1 year, 3 years, etc.).
• Once investors have a projected concept of the maturity value of their investment, it helps them plan and manages their finances more effectively (s).
• Using a lumpsum calculator helps you eliminate human error and saves time wasted performing manual calculations.
• Even inexperienced investors may use a lump sum rate of return calculator with comfort because it is effortless and convenient.
• It should be noted that as investments in mutual funds are exposed to market risks, the returns cannot be precisely predicted.

Lump-sum The future value principle underlies how calculators operate. The lumpsum calculator provides the investment’s future worth at a specific interest rate. You must apply the following calculation:

FV = PV(r + 1)n

Future Value (FV)

Present Value (PV)

n = Number of years

n = Number of years

For instance, let’s say you made a lump sum investment of Rs. 1,000,000 in a 20-year mutual fund plan. You can anticipate a 10% return on your investment.

The future value of the investment can be calculated as follows: FV = 1,00,000(1+0.1)20

FV = Rs 6,72,750.

Your initial investment of Rs. 100,000 has risen to Rs. 6,72,750.

The increase in wealth is Rs 6,72,750 – Rs 1,00,000 = Rs 5,72,750.

Conclusion

An investor can invest a lump sum in an MF programme. An investor chooses this investment options if they have received a lump sum of money from selling some asset.

Large sums of money invested at once can be dangerous and lock up your funds; an early withdrawal might result in exit load fees and penalties. As a result, an investor needs to reconsider all the factors before investing.

This option was typically chosen by the investor with a lump sum of money and ultimately wishes to invest in mutual funds with an emphasis on equities. When the market is favourable for an investor to invest in equities, the lump sum is systematically transferred from debt mutual funds to equity mutual funds.

Read this post if you are interested in learning how to select the best checking account that offers interest to you and also to know the pros of checking accounts. Finding checking accounts that pay interest may be done through various channels and methods.

Increasing the amount of money you have in the bank by earning a higher interest rate on your checking accounts is one way to do this. After finishing this post, you will better understand how to choose a checking account that offers a high-interest rate, which will enable you to accumulate more interest within your account.

Consider using an online bank, if you haven’t already

When searching for checking accounts that pay interest, the first step you need to do is to select whether you will save your money in a traditional bank or an online bank. You may locate checking accounts that pay interest by going online or to a traditional bank.

Determine the amount of money that is currently in your bank account. After then, think about the choices you have. You will also need to assess whether or not your current balance has met the needed minimum amount for your bank account.

Have you reached a point when your balance is below its minimum? After then, you are obligated to make payments toward the interest.

Consider doing your shopping in the surrounding area

The following step that you need to take is to look for an account of this sort in your immediate area. Doing your banking close to home might help you evaluate each institution. You can also use it to determine if you will create a bank account with a financial institution in your local region or with an online bank.

You may utilize the internet to search for a list of prerequisites and prices online while you are shopping around for the account that is most suited to your needs. As a direct consequence, you will not have any trouble understanding any of the critical information pertaining to your account. Time is saved as a result of completing this step.

Review your new interest-bearing account

Examine all there is to examine in your brand-new account that accrues interest. Check to see if the features you want are included in that account.

If you have an account online, you should look into whether or not it supports direct deposit, paper checks, debit cards, or free service at ATMs. You should most certainly use an account of this sort that the FDIC guarantees. Your account will remain protected and secure as a result of this action.

Also, check to see if pay checks are included with your account or if you have to pay for them separately.

Bottom Line

In conclusion, locating checking accounts that pay interest on deposits is simple. You only need to be aware of what to look for, and you will be able to do whatever you want.

Everyone wants to think of themselves as experts, but very few people are genuinely knowledgeable in specific fields. Though you may believe you are an expert in founding a firm, you might not know the proper procedure for closing your LLC.

Using specialists is essential regardless of your industry, but if you still need convincing, consider these justifications for addressing the professionals at Goodbye Startup when you’re about to close your LLC.

Fulfill All The Legal Requirements

You may be sure you’re protecting your legal rights by dissolving an LLC according to the correct procedures. When registering your LLC, you filed paperwork with your local and federal governments. In the same way, you must submit the right paperwork to show that you are closing your business.

They will only know if you inform them that your LLC is no longer operational. Otherwise, they may continue to anticipate annual fees and taxes. The process can be complicated, but the professionals can show you how to close a business correctly. When you properly part ways with your LLC, you won’t need to be concerned about charges and taxes accumulating in the background.

Accelerate The Process

Experts who know the proper procedures to close an LLC are efficient, which is the quality that sets them apart from laypeople. They are competent and knowledgeable in what they do. It can take quite some time to finish many tasks for closing your LLC.

Yes, you could attempt to complete the task yourself, but given your lack of experience, you will likely fail on your first and subsequent attempts. As a result of their knowledge, the team at goodbye startup will assist you in avoiding any mistakes in your paperwork so that your case can be processed as quickly as possible.

Expert Advice

The closure of your limited company need not necessarily spell the end of your business. To enable you to carry on doing business while escaping debt, the professionals can transfer the profitable elements of your firm to another organization.

Sometimes a quick and simple approach will do when it comes to the dissolution of business. Certified insolvency practitioners can assist you with a formal limited business closure like administration or liquidation. They can make every effort to save a portion of your business if possible.

Properly Eliminate Any Lingering Debts And Unpaid Wages

Debt repayment may still be another stage of the required dissolution process, and it can take time to navigate on your own. Paying employees their final paychecks and any additional compensation is necessary as soon as possible. You’ll also need to correctly file your employee taxes when you wind things down, and the professionals can help you with this.

The Bottom Line

Goodbye startup experts have experienced everything, or at the very least, have seen the most of it. As a result, they possess a plethora of expertise and can provide unique viewpoints on how to close a business the right way to avoid problems in the future.