Financial terms like, NAV, dividends, returns and many more, are something which keeps on hovering around in an investor’s mind. Most importantly, investors only care about returns. Return is like the final step, first is knowing NAV. It stands for Net Asset Value. The reason why knowing the NAV plays an important role in the life of investors is because it represents the price of a fund unit. It is the value at which investors buy and sell the units of the fund in a mutual fund. Basically, the NAV tells investors how many units of the mutual fund scheme they are going to receive. So for instance, if you are buying into any Principal Mutual Fund, the Principal Mutual Fund NAV is going to tell you how many fund units you will get for the money you want to invest. Now you must be intrigued how does Principal calculate its NAV. We’ll help you get there in a moment.
What is the Principal Mutual Fund NAV Calculation Formula? NAV calculation is done by dividing the net assets by the number of outstanding shares. Assets of the funds are the market value of securities held by the fund. In order to determine the net assets, liabilities of the fund should be subtracted from the market value of securities held by the fund (total assets). More or less, every fund house has the same calculation procedure to determine the NAV. Let’s breakdown Principal Mutual Fund NAV in the form of a simple formula: Net Assets = Total market value of securities held by the fund - Liabilities accrued by the fund NAV = Net Assets / Total number of outstanding shares When is the Principal Mutual Fund NAV Calculated? According to SEBI mandates, all mutual fund NAVs will have to be calculated by the end of the day. NAV calculation during market hours can be quite tiresome as the prices of underlying stocks fluctuates constantly. This is the reason why NAV calculation for all of the Principal mutual funds is done at the end of the day. End of the day calculation of NAV helps to take into account the closing prices of all the stocks that is being held by Principal Mutual Fund. How to Invest in Principal Mutual Funds? If you wish to invest or buy any of the schemes under Principal Mutual Funds, you can do so by opting for the direct plan or the regular plan. Under the direct plan, you will have to buy the fund through the Asset Management Company (Principal) directly. You can do so by visiting their website or by offline means. You can buy Principal Mutual Fund units through the regular plan by visiting the websites of some financial technology companies. There are two ways in which you can invest in Principal Mutual Funds. First, if you have enough savings and wish to invest in mutual funds, do so by the lumpsum way. On the contrary, if you don’t have savings, take the SIP (Systematic Investment Plan) route to invest in Principal mutual funds. SIP investment gives you the advantage of rupee-cost averaging. Disclaimer: Mutual Fund Investments are subject to market risks, kindly read all scheme related documents carefully before investing.
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Whenever we are barraged with a lot of choices in our lives, we face difficulty in choosing the right option for us. It’s nothing new, it’s human nature. And the thing which should be kept in our minds that it’s not an easy task to choose the right option without any proper guidance or help.
The same thing is happening in our financial market as there are too many options in banking products that it’s a pretty daunting task for us to choose the right one. Be it Savings Account, Fixed Deposit, Credit Cards, Home Loan, Personal Loan, or any other products. the number of variables is too much to handle. When we talk about Credit Cards, there are around a total of 22 Public sector Banks and 20 Private Sector Banks and few Financial Institutions that provide credit card services to their customers so you can see there are quite a lot of options at the disposal of customers. When we talk about Credit Cards, it’s almost impossible to not mention the name of HDFC Bank. It is one of the leading private sector banks that provide the best of credit cards. Consolidated in August 1994, HDFC has a total of 5,130 branches across the 2,764 cities/towns of India as of June 30, 1994. HDFC has the largest number of credit card user base in India amongst all the public and private sector banks in India. State Bank of India and ICICI Bank only comes after the HDFC Bank. There are a lot of credit cards offered by the HDFC Bank, but in this article, we will talk about why you should choose HDFC Moneyback Credit Card. Advantages of HDFC Moneyback Credit Card: There are several cashback offers, reward points and other features that make the HDFC Moneyback Credit Card offer lucrative. As the name of this credit card suggests, you will surely get your money worth. Below are such amazing characteristics that you’ll surely find the worth of having this card.
Eligibility Criteria for getting an HDFC Moneyback Credit Card: There are a few conditions that an applicant has to qualify to get this credit card from HDFC Bank that is mentioned below.
Having a credit card is not a pretty special thing in today’s age when there are around 45 million credit cards are in circulation across the country. These cards are from various banks and financial institutions of India with various reward points, cashback offers, and special privileges. Among all the banks that are offering Credit cards, Citi Bank is one of those leading contenders in the banking sector of our country that provides top-notch banking services such as Savings account, Current Account, Fixed Deposit, Home Loan, Personal Loan, Credit Card and many more exciting things. Citibank has been functioning in India from more than the last hundred years which is a testament to its flawless banking products.
Citibank credit cards come with such amazing reward structure and cashback points on every transaction made by you that you won’t be able to stop yourself from opting for the credit card from Citi Bank. it has various kinds of credit cards for different categories ranging from travel, shopping, fuel, lifestyle or cashback. You can choose the one which suits all your needs from the range of credit cards. And if you’re thinking about the ways by which you can make your Citibank credit card payment, then we will also tell you about it in this article. So let’s dive into the features of Citi Bank Credit card first. Prominent Features of CitiBank Credit Card: As the range of Credit cards offered by Citibank is quite astounding, hence the list of features can be extended as much as you want. There are several options in the credit cards from which you can choose the best one for you. Below are a few prominent features of this card.
How to make Citibank Credit Card Payment through various methods? There are various payment methods by which you can pay your bills of any Citibank Credit Card. You can transfer funds from your Citibank account or any other bank account. It’s hassle-free and free from any complexities. The several methods to make the Citibank Credit Card payment are as follows.
Eligibility Criteria for Citibank Credit Card: There are certain conditions that an applicant has to fulfill before applying for the credit card of the Citibank. Below are those conditions.
Do you know that the State Bank of India (SBI) is the largest public lender of our country? Well, in case you didn’t know then now you know about this amazing feat about the State Bank of India. SBI offers various kinds of banking services to its customer likes of savings account, current account, credit card, home loans, personal loans, and many other amazing financial products. Fixed Deposit comes under the many services of SBI which they provide to their customers. The Fixed Deposit scheme is one of the oldest methods of saving money among the common people of India because of two reasons. First, fixed deposit interest rates in SBI are generally higher than the savings account of SBI or any other bank. The second reason can be attributed to the fact that it is a riskless kind of savings as it always gives the guaranteed outcome source.
Other than SBI, many banks offer fixed deposit and if you’re looking to open a fixed deposit in any of the banks, you must carefully check the interest rates offered by them. You’ll get to know everything about the SBI fixed deposit and interest rates on them through this article. SBI gives you the option of saving your surplus money for a fixed tenure period at an attractive rate of interest. The thing which separates SBI from other banks is the trust it has earned over the years. Other than that, Fixed Deposits Interest Rates in SBI are quite lucrative for the customers. What benefits you can enjoy by having an SBI Fixed Deposit? By opening an SBI Fixed Deposit, you can experience the various benefits which are mentioned below.
Fixed Deposit Interest Rates in SBI: In the State Bank of India, you can open a fixed deposit account form 45 days to a maximum of 10 years. The interest rate changes according to the period of your fixed deposits. So you should always look at the tenure period of your fixed deposit so that you can get a higher rate of interest on your returns. The fixed deposit interest rates in SBI on various time periods are as follows.
All these rates will be applicable from August 1, 2019, after the decline in the interest rate in the banking system and excessive liquidity. These rates came before the scheduled change in the monetary policy of the Reserve Bank of India (RBI). Fixed Deposit interest rates depend largely on the current state of the economy. Before we get into the more intense stuff, which is, calculating the Reliance Mutual Fund NAV - let’s first understand what NAV is and what is its role. NAV stands for Net Asset Value. This is the value at which an investor buys or sells their mutual fund units. It is basically the cost of each unit of the mutual fund scheme. It also sometimes called as the Net Book Value or the Net Value.
Reliance Mutual Fund NAV Calculation More or less, the NAV calculation for all the fund houses are the same. Even Reliance as an AMC (Asset Management Company) follows the same NAV calculation procedure. Net Asset Value is calculated by dividing the total net assets that the fund holds by total number of outstanding shares. To determine the total net assets held by the fund, Reliance subtracts any liabilities of the fund from the total assets owned. Let’s break all of these words into one simple formula: NAV = (Total Assets Owned - Any Liabilities) / Total Number of Outstanding Units The assets here is calculated as sum of market value of mutual fund investments, receivables and accrued income. And liabilities is the sum of debts and other accrued expenses. For instance, if the market value of securities held by the fund is INR 600 lakh and the mutual fund issues 20 lakh units of INR 10 each. Then, Reliance Mutual Fund NAV will be INR 30. What is the role of Reliance Mutual Fund NAV for an investor? From the viewpoint of an existing Reliance Mutual Fund investor or a prospective investor, Reliance mutual fund NAV has a big role to play. This informs the investor about how much fund units are they going to get when they buy into the fund. Or, sell when they buy out of the Reliance mutual fund scheme. NAV can also help in gauging a fund’s performance, sometimes. High NAV translates that the fund has been consistently performing well. However, it is recommended to gauge the fund’s performance not by its NAV but by the returns it has generated historically. When is Reliance Mutual Fund NAV Calculated? According to SEBI guidelines, all mutual fund NAVs will have to be calculated by the end of the day. Calculating the NAV during market hours is impossible as the prices of the stocks held by the mutual funds (underlying stocks) changes from time to time. This is the reason why NAV calculation for all of the Reliance mutual funds is done at the end of the day. End of the day calculation of NAV helps to take into account the closing prices of all the stocks that is being held by Reliance Mutual Fund. How to Invest in Reliance Mutual Funds? If you wish to invest or buy any of the schemes under Reliance Mutual Funds, you can do so by opting for the direct plan or the regular plan. Under the direct plan, you will have to buy the fund through the AMC (Reliance) directly. You can do so by visiting their website or by offline means. You can buy Reliance Mutual Fund units through the regular plan by visiting the websites of some financial technology companies. Disclaimer: Mutual Fund Investments are subject to market risks, kindly read all scheme related documents carefully before investing. A lot of people ask questions like “Which will be the best credit card for me to have?” and “What credit limit should I get?” There is not a clear-cut answer to these questions because there is no such thing as a perfect credit card which suits everybody. Each individual lives differently spends differently, shops differently, then how can a single credit card can be perfect for everyone? Same as humans, different cards have different properties which serve different needs of humans. There are a lot of different cards in the current financial market made available by the leading banks and financial institutions to satisfy the need of their customers.
And that’s the primary reason why it is a bit tough to pick out the single one and declare it as the best credit card for India. Credit Cards serve different purposes to people ranges from dining outside to watching the movie outside. Choosing the right credit card is a daunting process considering the number of options any individual has in the current financial market. So in this article, we will tell you about a few credit cards’ features so that you can make a better decision at choosing the best credit card for India. Below are some.
Standard Chartered Platinum Rewards Card: Having no joining or annual fees, this credit card from Standard Chartered Bank is perfect for any kind of salaried individuals whether they are private or government employees. With the welcome offer of 1000 reward points on using the card within 60 days, this card also gives 60% off on the UBER rides. Apart from this, this card gives you the number of offers on shopping, dining, movie tickets, etc. Tracking your financial expenses is a tricky thing to handle manually. You can not carry a pen and paper everywhere you go to jot down every expense you make. That would be too impractical, and a bit tough to achieve because it demands a lot. To get yourself saved from this problem, many banks and financial institutions provide the online service for your generating your credit card statement. An online credit card statement is the monthly statement sent to you by your respective bank at least 21 days before your minimum payment amount is due.
With the help of a credit card statement, you can easily track every expense by just a click of your finger. You can watch the expenses you made during the month, and plan your finances in a better way. If you’re having a credit card from ICICI Bank and you’re worried about how to see your credit card statement then don’t worry because there is more than one way to get the credit card statement, ICICI Bank provides to you. In this article, we will tell you about all those ways to get the credit card statement and all the terms mentioned in the credit card statement. What are some ways to get your ICICI credit card statement? There are several online and offline ways to get your credit card statement, ICICI bank provides. Either you can get it through net banking, your ICICI mobile banking application, or through the customer care. Let’s look at the ways to generate the credit card statement ICICI bank lets you use.
There are many different terms in your credit card statement which you should look closely and if you find any inconsistency in the statement, then you must report it to the bank and get the updates about it. Different terms in the Credit Card statement, ICICI Bank provides:
Not all of us have enough savings to finance the things that we want What other option have we got? Personal Loan is the ray of light that pierces through the darkness. Inspite of a host of personal options being available in the market, not all are easy on the pockets. If you are looking for a personal loan to meet your wedding finance needs or some medical urgency or trying to realize any other short-term dream, the Dhani Personal Loan is a good option that you can consider. This personal loan is provided by a renowned Non-Banking Financial Company (NBFC) - Indiabulls. Over the years, Indiabulls has helped several people get closer to their dreams and aspirations by their personal loan options. The best part about the personal loan is its easy to meet eligibility criteria and minimal documentation procedure.
Eligibility Criteria: Time to address the question of the hour. But the answer is going to be short and simple. Indibulls believes in speedy loan approvals and disbursals. Indiabulls likes to keep it simple and fast for the convenience of the customer. This is the reason why Indiabulls Dhani Personal Loan eligibility criteria really simple. You’ll be shocked to know that to get a Dhani Loan, you only have to meet one eligibility criteria. You’re eligible for this personal loan, if you are a salaried individual or self-employed person. Documents Needed to Seize the Personal Loan Deal: Since the Indiabulls Dhani Personal Loan eligibility criteria is that you have to be either a salaried person of self-employed person to bag the Dhani Personal loan. So obviously, you will have to submit documents related to your employment or profession. Following are the documents that needs to be submitted in relation to your profession:
High Loan Amount: Indiabulls Personal Loan provides loan amount upto INR 15 lakh so that you don’t have to compromise on any of your need. Attractive Rate of Interest: The feeling of guilt shouldn’t cross you once you’ve had the time of your life. This is why Dhani Loan offers low interest rates so that the repayment of loan doesn’t seem as a burden to you. You can get the Dhani Loan at interest rate as low as 11.99%. Speedy Loan Disbursal: As soon as the loan is approved, the disbursal of loan amount happens within minutes into your bank account. In some instances, the loan amount is disbursed within seconds after the time of approval. Indiabulls believes that you should fulfill your needs as soon as possible. How to Apply for the Dhani Personal Loan? Just follow the below mentioned steps and the funds will be in your bank account before you even believe it.
CIBIL score is a three digit number assigned to individuals by the credit information company, TransUnion CIBIL, in order to help banks and Non-Banking Financial Companies gauge the credit track record of the individual. This score is a mandatory check factor done by lenders before giving loans and credit cards. CIBIL score is checked to determine whether the individual has the capability to repay the loan or not.
There are many companies who provide credit information services in India. But the scores by TransUnion Credit Information Bureau of India holds prime importance because 80-90% of the banks in India accept it. Also, some lending products like personal loans and credit cards, are unsecured in nature, meaning lenders don’t ask customers to pledge securities against it. The question then follows is, “How and why will the bank trust me with the loan amount?” This is when CIBIL score has a major role to play. CIBIL score is a reflection of your repayment ability. It gives the lender confidence in you to offer you the loan. What is Considered to be a Good CIBIL Score? As stated above, CIBIL Score is a three digit number, which ranges between 300 to 900. Lower end of the spectrum represents the worst score, whereas, higher end, which is 900, represent the best score. Ideally, a score of 750 and above is considered to be a good score. If you reside in this bracket, getting lending products shouldn’t be a problem. 4 Ways on how to improve CIBIL Score! 1. Make All the Due Payments - We often end up exhausting our credit limit in a month and then don’t pay our dues on time. This happens due to mismanagement. Set a lower limit than your credit limit for every month. That way you’ll end up spending less and can pay your dues easily. The same applies for loan account also. Check with the bank about your unpaid dues and pay it off as soon as possible for a better CIBIL reflection. 2. EMI payment on time: This is one of the way that organically boosts your CIBIL score. All it takes is to be committed to get over the loan or credit card dues as soon as possible. Never bite more than you chew. Know your limit and spend accordingly so that you won’t face any difficulty in paying your monthly installments. 3. Dispute Settlement: CIBIL prepares the credit score report on the basis of the information collected from Member Banks. There can be a scope for errors cause humans are involved in the data entry process. If you find any transaction that you’re not sure about, you can raise a dispute on CIBIL’s website. By doing this, the damage done on your CIBIL website can be easily rectified. 4. Increased Credit Limit: Ask your credit card bank to give you a higher credit limit. This does not mean that you can spend more. This is just to show CIBIL that you’ve kept your credit utilisation ratio low by spending less and servicing your debt at time. Seeing this, CIBIL restores confidence in you and increases your CIBIL score. These were four essential hacks on how to improve CIBIL score. With a more disciplined approach towards spending, you can increase your CIBIL score without any difficulty. EMI Calculations can be a tiring task to undertake. People who hate calculations will have to take out a Sunday to get past this. Who has that kind of time. So wouldn’t it be magical if something or someone else does it for you. With internet and startup booms, convenience to customers has gone to a whole different level. Everycompany is trying to serve you better and make you do less. Who would have thought that you can a book a cab through apps and it will be right next to your door in no-time. If cabs can come to your place, why should you be calculating your EMI by yourself? This is why the Bandhan Bank Personal Loan Calculator was launched. It lets you calculate your EMI payments well-in advance without any difficulties. Let’s take a tour of some of the features and benefits that makes this calculator very convenient for you.
Why Should You Use Bandhan Bank Personal Loan Calculator? Facilitates Planning: If you know the EMI value well-in-advance, at least you’ll be clear about how to plan your monthly expenses. Personal loan takes away 10-20% of your disposable income every month as EMI payment. Knowing the EMI will help you do a better evaluation of your needs and wants. During repayment of loans, you should always give preference to needs over wants. Servicing the debt is of prime importance. Easy to Use: Imagine calculating the EMI based on this one hell of a formula, EMI = [P x R x (1+R)^N]/[(1+R)^N-1], all by yourself. It’ll be so complicated and will lead to errors. With the EMI Calculator, it’s all easy. It works just like your normal calculator. This EMI calculator takes three factors into consideration to determine the EMI. These are - Loan Amount, Tenure of the Loan and Rate of Interest. All you have to do is just enter these three details and the EMI results will flash on your screen within milliseconds. Negotiation Power: When you’ve access to some kind of knowledge, don’t you feel confident and powerful? Similarly, knowing your EMI gives you clarity, it helps you negotiate better with Bandhan Bank. Knowing the EMI and other calculations makes you feel confident and you can bargain easily with lending institutions. Interest & Principal Ratio: Bandhan Bank Personal Loan EMI Calculator also shows how the personal loan progresses over time. How the ratio between the interest and principal amount change over time. Initially, the interest paid is higher than the principal amount. And as the loan closes in towards maturity, the principal amount is higher and the interest decreases. How to Use Bandhan Bank Personal Loan Calculator? Don’t worry, this is not like some other technology that will give you anxiety. Using the Bandhan Bank Personal Loan EMI Calculator is not some rocket science. Infact, there is no science involved. It’s easy-peasy. All you have to do is just fiddle around with three sliders. These three sliders is what constitutes the EMI - Interest Rate, Tenure and Loan Amount. Just move the slider or enter the loan amount you desire. Then, choose the interest rate you want from the bank. Lastly, enter the tenure you will be able to repay the loan. Hit enter, and the result will flash on your screen within milliseconds. You can use the personal loan EMI calculator on the Bandhan Bank website. Alternatively, you can use the personal loan EMI calculator on the website of some financial technology companies. |
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Anika Sharma
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