BUSINESS
How tax on foreign tour spends on credit cards will affect your holidays
International transactions via credit cards have been brought under the RBI’s Liberalized Remittance Scheme or LRS from May 16, 2023. From July 1, 2023, there will be 20 percent TCS on them with no minimum threshold.
BUSINESS
Six ways to save your job in the current storm of layoffs
When looking for work, you can protect your employability by negotiating certain clauses including a longer notice period and a golden handshake.
MCMINIS
What is 100 Days 100 Pays campaign from RBI?
MCMINIS
How to settle charges on forex prepaid card in rupee
BUSINESS
Mother’s Day 2023: Why single mothers should not ignore their retirement goals
On Mother's Day, diligent financial planning can ensure smooth sailing through every stage of life. Retirement will go well if you have an adequate emergency corpus, life and health covers in place
BUSINESS
NRO deposit rates: These banks offer up to 8.51% interest on two-year deposits
Small finance banks lead with the highest interest rates on NRO deposits, followed by small private banks and foreign banks. The leading public sector banks like the State Bank of India, Bank of Baroda, and others are not competitive in interest rates like other banks.
BUSINESS
Got Rs 10 lakh to invest? Stick to short-term debt funds for near-term needs; quality equity funds via STP for long term: Girish Ganaraj
Girish Ganaraj, a Mumbai-based mutual fund distributor, recommends a diversified investment portfolio as per financial goals and risk appetite. In the growing trend of following influencers for investing, he advises not to seek quick fixes through them.
TRENDS
Cruise control: How extra charges can inflate your cruise expenses, and how to control them
From the type of room and alcohol packages to shore excursions and visa charges, keep an eye out for additional costs when you book a cruise in India or overseas.
MCMINIS
Ways to use your annual bonus wisely
MCMINIS
Beware of gifts-and-customs fraud
BUSINESS
Trust FIRE to achieve your financial independence even when you retire early
To plan an early retirement taking the help of a trusted adviser is very important. The advisor will guide you in arriving at the corpus you will need, your investment strategy, lifestyle changes, and more
MCMINIS
What is Cruise Now, Pay Later scheme?
BUSINESS
Recurring Deposits: Banks are offering up to 7.6% interest
A recurring deposit helps you put a fixed sum of money every month in a bank deposit. It works like a mutual fund SIP but interest is taxable. Here is a list of rates offered for five-year recurring deposits
MCMINIS
Steps to take before going on overseas holiday
If you haven’t done the booking in advance, it can lead to unexpected over-spending. A travel budget helps to strike a financial balance.
BUSINESS
Avoid lending apps that ask for too much access to personal data: Anil Pinapala of Vivifi Finance
In a chat with Moneycontrol, Anil Pinapala, Founder & CEO of Vivifi India Finance, a non-banking financial company, urged people to borrow money only from registered lenders. He lists out ways to check a lender’s credentials.
BUSINESS
RBI drafts rules on loan penal charges. How will they benefit loan borrowers?
The RBI’s draft guidelines discuss details of the penal charges levied by financial institutions, interest rates on late repayment, terms and conditions of the penal charges, and modification of interest rates in line with regulatory orders, and more
BUSINESS
Travelling abroad for summer holidays? Here are 5 credit cards with low forex markup fees
Credit cards with low forex markup fees come with travel benefits like complimentary lounge access, hotel memberships and additional benefits.
BUSINESS
SBI offers lower rates on new home loans: Should you refinance your loan?
One reason for the disparity in interest rates between new and old home loans is because banks have cut their margins to attract new borrowers.
BUSINESS
RBI rate hike pause brings relief to borrowers. But that could just be temporary
As the RBI kept the repo rate unchanged, existing home loan borrowers should assess their current liabilities and devise strategies to prepay the loan.
BUSINESS
Watch out for these eight mistakes as financial year 2023-24 unfolds
Some seemingly simple financial mistakes can negatively impact your life and financial security. Listed here are some of these errors of commission and omission that need to be avoided in FY24.
BUSINESS
Your 2023-24 money calendar: Keep your dates with your moneybox, investments, taxes, lender and more
Aside from investing, reviewing your insurance policies and paying your taxes, make time to upgrade your investment skills. Negotiate with a lender for a lower interest rate on a home loan if you have a credit score above 800. Important personal finance events are tagged in our money calendar 2023-24.
MCMINIS
How a false credit card can ruin your credit score
Guard your personal data well
BUSINESS
7 changes in financial landscape you need to know this April
From income-tax rules coming into effect after Budget 2023 to big bonanza for senior citizens to new rules for NPS withdrawal, a lot is happening. Here’s what to watch out for
BUSINESS
Got Rs 10 lakh to invest? Raj Khosla outlines the investment strategy for 2023-24
Raj Khosla, a Delhi-based financial planner, recommends investments across all asset classes, proportionate to your risk appetite. In the current volatile market, he advises investing in small quantities at every market fall.
