BUSINESS
Budget 2025: Hike in tax deduction on health insurance premiums critical, say experts
Tax and financial experts recommend raising tax breaks on health insurance premiums to Rs 50,000 for individuals and Rs 75,000 for senior citizens to factor in escalating medical costs.
BUSINESS
UPI's six new features that boost payment ease for Indian residents and NRIs
NPCI has rolled out several new UPI features – UPI Circle, UPI-PayNow link, instant loans on UPI, UPI Lite, and UPI 123PAY – in recent months. Here’s all that you need to about these facilities.
BUSINESS
SBI's Har Ghar Lakhpati RD scheme unboxed: Should you invest or pass?
SBI’s Har Ghar Lakhpati: It offers competitive interest rates, guaranteed returns, and capital safety, but with penalties for premature withdrawals and delayed payments.
BUSINESS
Budget 2025-26: Taxpayers want higher deductions on savings, fixed deposit interest income
Union Budget 2025: Individual tax-payers, especially senior citizens, are hoping for increased tax deductions under Sections 80TTA and 80TTB in Union Budget 2025 in the face of rising inflation and healthcare costs
BUSINESS
Budget 2025 Wishlist: Individual taxpayers want tax relief, deductions, slab relaxation on February 1
Income tax payers have a long wishlist, featuring a 30 percent tax slab only for those with incomes over Rs 20 lakh, inclusion of 80C and housing benefits under the new tax regime, and a special deduction for upskilling programmes.
BUSINESS
Budget 2025 wishlist: Four housing loan reforms that home buyers want on February 1
Budget 2025-26: Home loan borrowers hope the Union Budget will enhance tax benefits to make home ownership more affordable. Their demands also include higher deductions under Sections 80C and 24B, among others.
BUSINESS
American Express’ Platinum card offer: Only for the affluent class with higher spends and specific needs
The card-issuer is offering its existing cardholders the option to upgrade to its premium variant AMEX Platinum card, which promises additional benefits and features. But is it worth the hefty annual fee of Rs 77,880, including taxes?
BUSINESS
Seven money resolutions for a financially secure 2025
Kickstart 2025 by reassessing your financial priorities. Break free from the burden of debt, invest wisely, and prioritise financial security. Create a tailored financial plan, avoid high-risk investments, and stay disciplined to achieve long-term financial stability.
BUSINESS
Money changes in January 2025: RBI’s new FD rules, quicker credit data updation, deadlines for tax-saver investment proofs, and more
January 2025 Money Changes: The New Year is set to bring in significant changes, from RBI’s revised rules for fixed deposits to modification in certain card-issuers’ credit card features. It is also the month when most employers ask their employees to submit proofs of tax-saver investments during the financial year.
BUSINESS
How to keep your credit card spending in check and maximise rewards this holiday season
Credit Card Rewards Tips: Manage your finances wisely this holiday season by assessing your financial position, creating a spending plan and utilising budgeting tools. Stay on top of your credit card bills and keep an eye on your financial goals.
BUSINESS
Yearender 2024: Of mules & phishing in the dark web — how scamsters played us
Do not share any information or take any action without triple-checking the bona fides of individuals or platforms.
BUSINESS
Year-ender 2024: No RBI repo rate cut, but borrowers get transparent charges structure, digital inclusion via UPI
2024 financial wrap: The year 2024, which draws to a close next week, saw the RBI introducing several key reforms aimed at promoting transparency and fairness in lending practices. These include better disclosures of loan charges, stricter rules for P2P lending and increased UPI transaction limits.
BUSINESS
Here is how your marriage can affect your credit score
Joint loan accounts with your spouse as the co-borrower, credit utilisation ratios and debt consolidation can impact your credit score. Here’s a guide to managing joint loan accounts for healthy credit scores
BUSINESS
Preparing a will online? Understand the process and its pitfalls
Online wills - pros and cons: These are convenient and affordable, but may not be suitable for complex estates or unique circumstances.
BUSINESS
Credit score over 800? You can secure your dream job, cheaper insurance premiums besides lower interest rates
A good credit score can not only help you get best the interest rates on home loans or easier access to premium credit cards, but also discounts on insurance premiums and easier pathway to jobs of your choice, particularly if you are looking for opportunities in the BFSI sector.
BUSINESS
RBI Repo Rate Unchanged: No change in home loan EMIs as RBI holds repo rate steady
Home Loan Interest Rate: Most home loans in India have floating interest rates. With no change in the repo rate, your EMIs are unlikely to rise for now. Economists expect a rate cut in February on improved inflation outlook in India.
BUSINESS
Can having multiple nominees in bank accounts reduce disputes, unclaimed deposits?
Proposed amendments to banking laws make room for two modes of multiple nomination —simultaneous and successive
BUSINESS
Can a rent ‘credit score’ help unlock better rental deals?
RentenPe's rent credit score system rewards tenants' timely rent payments, helping new-to-credit tenants build a credit profile to potentially access better rental agreement and loan terms. However, lack of enabling regulatory framework and limited choice of lenders are the key drawbacks
BUSINESS
December financial alert: RBI rate call, tax deadlines, and credit card updates
In December, watch out for RBI’s policy announcement. Then, update your Aadhaar for free, pay your advance tax and file belated tax returns to avoid penalties, among others.
BUSINESS
Top 10 forex cards to save you money while travelling abroad
Best Forex Cards in India: As more Indians travel abroad, managing foreign exchange has become crucial. Forex cards are a convenient and secure way to carry foreign currency. There are several options. Moneycontrol helps you choose what works the best for you
BUSINESS
NRI financial planning series | Moving abroad? Get your investment matters right
Best investment Strategies for NRIs: As two NRIs share their experiences of managing investments in India, experts highlight the importance of updating financial institutions about NRI status, evaluating existing investments, and exploring investment options like PPF, NPS, and mutual funds.
BUSINESS
Trump’s proposed max 10% interest on credit cards; how does India fare?
Credit card interest rates in India can go up to 53 percent, though some banks offer products with lower rates. But they are not easy to lay one's hands on.
BUSINESS
Children's Day: How Indian parents are using bank accounts, e-commerce apps and board games to teach money skills to kids
Children’s Day Special: Parents and financial experts emphasise the importance of imparting money management skills to children early on. Interactive tools, workshops, and open conversations help kids develop financial literacy and responsible habits.
BUSINESS
Careful, NRIs: This is how to ensure your power of attorney is a tool, not a trap
The challenges NRIs, among others, face in managing their affairs in India can be addressed by granting a PoA but there are precautions one must take
