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Throughout the country and the world, cryptocurrency has become a sensation. Con artists are cashing in on the growing interest in crypto-assets around the world, and they're taking advantage of individuals who are willing to put in the time and effort to make a quick buck. Consider whether or not a company is blockchain-powered when conducting your due diligence on digital currency enterprises and startups. Find out if they have a viable business plan that addresses a real problem. In the same way that people strive to profit from any new occurrence, some people will try to profit from this one. Do your homework- You may find it difficult to resist the advise of tycoons and strong personalities on the internet, but you should conduct your own study before putting your money into a new business. Try not to put too much stock in any information you find online. A bitcoin scam is almost always a business plan that sounds too wonderful to be true. Secure your Crypto Wallet- You may have heard of those who lost a few Bitcoins because they couldn't keep track of their digital wallets. The seed phrase or private key that you use to store your cryptocurrency should never be shared with anyone. Offline storage is preferable if all other factors are equal. Don't lose track of the password if you have a few Bitcoins stored on a hard drive. Unless you want to risk losing the coins you've just earned. In other words, it's the same thing as suffocating them for the rest of their days. Set up two-factor authentication whenever possible- Your crypto wallet will be safe if you use two factor authentication. A third party stores the private key on a web server, which can be accessed via a website or app. Keeping your assets organised can be as simple as following this strategy. Enabling two-factor authentication for your crypto exchange account is strongly recommended in this case. In the event of a hacking attempt or if the primary credentials are compromised, it can be helpful in thwarting the attack. Do your own research- Anyone who reaches out to you personally to ask for cryptocurrency instalments or to give you a cryptocurrency speculating chance should be approached with extreme caution. If someone asks you to pay with cryptocurrency, even if they claim to be a government official or a well-known individual, do not believe them. Never trust a Crypto site- Always keep an eye on the URLs and websites you visit when researching cryptocurrencies. The URLs of genuine websites are often altered by phishing scammers. A small lock icon next to the URL can help tell you if a site is secure. Your anti-virus programme should be running. When it comes to antivirus software, we've found the most effective protection against malware is one that keeps an eye out for common phishing scams and prevents them.

At the beginning of our twenties, we begin to gain financial independence and begin accumulating assets. The term "investment" conjures up images of high returns and profit, but there is another less-known aspect of holding assets: loans. You can get a loan against an asset if you have a financial emergency or a life emergency. Fixed Deposit Overdraft Taking out a fixed deposit overdraft is another option for borrowing money. The term "fixed deposit" can also refer to a type of investment. Banks typically charge early withdrawal penalties for breaking an FD prematurely, but you can take out a loan against it and continue to earn interest while your bank FD is still in the deposit period. With an overdraft facility, most lenders allow you to borrow money from your fixed deposit account and only pay interest on the amount you use from your sanctioned limit until it's paid back. You can get a loan of up to 85% to 95% of the value of your bank FD, with interest rates that are typically 1% to 2% higher than the rate of the FD that serves as collateral. Loan on Gold In India, gold is unquestionably the most popular investment. Because of its long history and cultural significance, gold is preferred by all social classes. Taking out a loan against gold is a common practise in India because of the widespread availability of this asset. Some of the key features of gold loans are their quick disbursements, short payback terms of up to three years, high loan-to-value ratios (LTVs) of up to 75 percent, and a variety of flexible repayment options other than the traditional EMI. Loan Against Property When you need money, you take out a loan against a piece of property that you already own. Loans against property are available from a wide range of lenders, including commercial, residential, and industrial lenders. Banks are also among the lenders. The amount of the LAP loan is determined by the market value of the property and the LTV ratio of the lending institution, which typically ranges from 50% to 75%. LAP can be paid back in as little as 15-20 years, depending on the borrower's ability to make on-time payments. Reverse mortgages are another option for pledging property for money, and they are designed specifically for people who are elderly and need money. Detailed information about it can be found on this page. There are a few lenders who will lend you money against your car as collateral, allowing you to take out a loan by handing over your vehicle. You will be given a loan based on a percentage of the market value of your vehicle. Credit card loans, on the other hand, offer an additional benefit to those who have credit cards. Loan Against Securities If you're an investor, you may not be aware of the possibility of taking out a loan against the value of your securities. A variety of financial instruments are included in the term "securities." Borrowers may use their securities as collateral instead of selling them. With market-linked assets, such as bonds, mutual funds, and stock market investments in which you may need to lose money and then redeem it when your portfolio is in the red, this feature comes in handy more than most. Taking a loan against your securities allows you to continue to reap the benefits of your investments, including interest, dividends, and bonuses. When it comes to the loan amount, it all depends on the collateral and the LTV ratio assigned to it by the lender.

Investment in retirement plans and schemes is a smart idea when you are in your twenties or thirties and have begun making money. While it's possible to save enough money to last you a lifetime, you'll need to invest properly in order to do so. Depending on your current age and financial situation, you can choose from a variety of investing options. For those who have a longer time horizon to create a retirement fund, the National Pension Scheme (NPS) may be a good option for them (NPS). Here are the top 5 reasons to invest in NPS as a young investor at an early age: 1. Up to Rs. 50,000 more tax deduction every year Up to Rs. 50,000 more tax deduction every year Section 80CCD of the Income Tax Act, 1961 allows for a deduction of an additional Rs 50,000 on NPS investments. To put it another way, this tax deduction is a "extra investment" in your retirement savings. Investing more now could have a substantial influence on your retirement savings over the next 25 to 30 years. Instead of reducing your take-home pay, the tax savings allow you to put more of your hard-earned money into investments that will yield even greater tax savings. 2. When your money matures, you won't owe any taxes on it Your money will be tax-free when it reaches maturity According to existing tax legislation, an NPS investor can withdraw up to 60% of the corpus tax-free at maturity. Although there is no tax owed at the time of purchasing the remaining 40%, you will need to invest that money in an annuity. Consequently, the withdrawal is tax-free in full. If you receive a monthly annuity payout, you will only be taxed on that amount. If the base tax exemption limit is exceeded, only a portion of this income will be taxed. NPS taxation regulations have become more investor-friendly and enticing as a result of government changes throughout time. For a young investor, NPS is now on par with PPF and EPF, making it an attractive option. 3. Investments that are low-cost and highly regulated Investments that are low-cost and highly regulated. Equity-linked savings plans (ELSS) and unit-linked insurance plans (ULIP) charge 1% to 2% in fund administration fees. NPS fees, on the other hand, represent just 0.01% of the assets under management (AUM). In addition, NPS is regularly regulated and monitored by the regulatory agency PFRDA. This means that your rights and interests will always be protected. This is crucial, given the long-term nature of investment and the relevance of the financial objective for which you're saving your hard-earned money. 4. A variety of investment and asset allocation choices are available A variety of investment and asset allocation choices are available. A wide range of fund managers and money allocation choices are available through NPS. When it comes to selecting a fund manager, you may quickly review the performance of each fund to help you decide. You can easily switch funds in the middle of an investment, even if you've already made a purchase. When it comes to fund allocation, you can choose between active and automatic asset allocation. Up to 75% of your portfolio can be allocated to stocks if you are an experienced investor with a thorough understanding of how the markets work. But if you are a passive investor, auto allocation will automatically balance your asset allocation based on the fact that you are older. Auto allocation 5. It is because of the lengthy lock-in period that NPS is a wise investment in the future It is because of the lengthy lock-in period that NPS is a wise investment in the future Investing as a young person can make it difficult to think about or even contemplate retirement, but failing to do so can put your retirement age and assets at risk. Starting your retirement savings in your early 40s will prevent you from reaping the benefits of compounding. As time passes, you'll need more money each month to save for retirement, which is bad for your finances. NPS is an excellent way to compound your money because the money you put into it is locked in until you reach the age of 60, unlike other investments. As a young investor, you might think this puts you at a disadvantage, but that is not the case. Then, how? Having a lock-in period prevents you from squandering your hard-earned retirement funds on things that can be avoided.

We learned from the COVID-19 pandemic that the future is unpredictable and that we need to be financially prepared for anything. Layoffs, pay cuts, medical emergencies, and other unplanned expenses can all be covered by having an appropriate Emergency Fund or Contingency Fund on hand. On the basis of hope and preparedness, an emergency fund is essential. This is due to the fact that life frequently tosses us a curveball. Keeping a smaller Emergency Fund The financial impact of an unexpected event is difficult to estimate. You may be forced to use money set aside for other purposes, such as unforeseen emergencies, in order to cover the shortfall. You could also be forced to take out a loan. Your Emergency Fund should, as a general rule, be able to cover three to six months' worth of ordinary monthly expenses, such as rent, EMIs, insurance premiums, etc. Your emergency fund should be at least six months' salary in the amount of Rs 2.4 lakh (Rs 40,000/month). If your family has a medical history, you may want to add an additional 5% to 10% to this amount. Consider your health insurance policies as well. Investing in the wrong places The Emergency Fund may occasionally be used to make money by investing in high-yielding but riskier investments (viz. equity mutual funds, debt mutual funds, etc). It might also be parked in areas that are more secure, but require a longer lock-in period, in order to guarantee a return (viz. Public Provident Fund, National Savings Certificate, Kisan Vikas Patra, etc). A high level of liquidity and capital safety should be ensured while storing funds for unexpected expenses. Savings accounts, fixed deposits, and liquid funds/overnight funds can all be used to diversify your investment portfolio and keep your money safe. Non-emergency expenditures of the funds There may be times when you feel compelled to use the emergency funds you've set up for non-essential purchases. However, if an emergency were to arise, it could put a strain on your budget. The best way to avoid this is to only spend your emergency savings when necessary. Avoid spending this money on a vacation, upgrading your electronics, or purchasing a new automobile. Leaving the emergency money in place after it has been used Once you've used the emergency fund, you must immediately rebuild it and restore it to a sufficient amount. If necessary, you may have to cut back on luxuries, save more, sell assets, and take advantage of any unexpected windfalls. When you don't look at your Emergency Fund You can't keep your emergency reserve at a fixed amount. Reviewing your emergency fund may be required, depending on your current position. Your finances can be affected by events such as marriage and the birth of a child as well as divorce, a growth in debt and a lack of security at work. If you don't keep an eye on your Emergency Fund, it may not be enough.

For all Indian nationals, the Aadhaar card is regarded as one of the most crucial identifying cards. It is now used for almost all significant tasks. This identity certificate is necessary practically everywhere, from enrolling into school or college to opening a bank account. If you have any issues with this vital document, you can get help at an Aadhaar card centre near you. If you don't know where your local Aadhaar Seva Kendra is, you can look for one right from your home. Let us inform you that the Unique Identification Authority of India (UIDAI), which is a statutory authority in charge of Aadhaar card provisions, now provides the Aadhaar card facility. It is critical to have any errors on your Aadhaar card fixed because it is one of the most vital papers. You can update your personal information on your Aadhaar card through the UIDAI. If anything is wrongly entered, you can edit the corrections at the Aadhaar card centre. You can call the toll-free number in 1947 to find out where the nearest Aadhaar Seva Kendra is located. You can also use the mAadhaar App to locate the service centre.

The Hindu holiday of Akshaya Tritiya, also known as Akshaya Trutiya or Akha Teej, is approaching, and Hindus will celebrate it with tremendous pomp and display. For Hindus, the celebration of Akshaya Tritiya is particularly auspicious, and it is commemorated by purchasing gold. Purchasing gold is thought to bring prosperity and increased fortune in the future. With the epidemic, and things moving in the digital age, gold can now be purchased online (digital gold). Gone are the days when purchasing yellow metal required a trip to the jeweller. What exactly is "digital gold"? Digital gold is a type of investment that allows purchasers to acquire 24 Karat, 999.9 pure gold, which is then stored in a safe vault. This gold can also be exchanged for 24 Karat gold coins and gold bars with a purity of 999.9 percent. What is the best place to acquire digital gold? Gpay and Phonepe, as well as brokerage firms such as Paytm Money, HDFC Securities, and Motilal Oswal, among others, sell digital gold. How to Buy Gold using Google Pay Step 1: Tap new on the Google Pay app. Step 2: In the search box, type 'Gold Locker.' Step 3: Go to Gold Locker and select Buy (you'll see the current gold market price) (including tax). Step 4: Input the amount of gold you want to buy in Indian rupees. Step 5: Choose your desired payment option and finish the transaction. Notably, the user must purchase a minimum of 1 gramme of gold. How to Sell Gold with Google Pay in 3 Easy Steps Step 1: Tap new on the Google Pay app. Step 2: In the search box, type 'Gold Locker.' Step 3: Select the option to sell. Step 4: Enter the milligramme weight of gold you want to sell. Step 5: The funds should be available in your account once the sale has been approved.

Interest rates on fixed deposits of less than Rs 2 crore and saving bank deposits have been revised by the Bank of India (BOI). The statement was made on Sunday, May 1, 2022, according to the bank's website. Interest rates on new FDs Domestic term deposits of less than Rs 2 crore with maturities ranging from 7 to 45 days will now earn 2.85 percent interest, according to the public sector lender. Deposits maturing in 46 days to 90 days and 91 days to 179 days currently have a 3.85 percent interest rate. The Bank of India will now pay 4.35 percent interest on fixed deposits expiring in 180 days to 269 days and 270 days to less than one year. The interest rate on Rupee Term Deposits with maturities of one year or less will be 5.00 percent. Check out the new pricing in the table below. 7 days to 14 days - 2.85% 15 days to 30 days - 2.85% 31 days to 45 days - 2.85% 46 days to 90 days 3.85% 91 days to 179 days -3.85% 180 days to 269 days - 4.35% 270 days to less than 1 year - 4.35% 1 Year & above but less than 2 Yrs - 5% 2 years & above to less than 3 years - 5.2% 3 years & above to less than 5 years - 5.2% 5 years & above to less than 8 years - 5.2% 8 years & above to 10 years - 5.2% Interest rate on a savings account According to the Bank of India (BOI) website, interest is calculated on daily products and credited to the SB A/c quarterly in the months of May, August, November, and February of each year, or at the time of the SB A/closing, c's subject to a minimum of Re 1. BOI will offer the following interest rate on savings bank deposits beginning May 1, 2022. 2.75 percent up to Rs 1.00 lakhs 2.9 percent above Rs 1.00 lakhs

Create separate savings accounts Kids Savings Accounts, Senior Citizen Savings Accounts, and Youth Savings Accounts are a few instances of this category. These sorts of accounts provide a greater interest rate as well as other bonuses. Discounts on e-commerce sites and more Individuals who want to get the most out of their savings accounts should choose an account that offers regular promotions and other incentives. Customers of the HDFC Bank, for example, can take use of a variety of incentives. From savings on food delivery apps to shopping/EMI incentives on e-commerce sites, there's something for everyone. Sweep-in service This is an automatic facility that converts any sum above a specified threshold into a Fixed Deposit. In the event of a cash shortage, the bank will automatically liquidate the FD to make up the difference. FDs are a superior alternative for earning interest at such rates.

The first thing that comes to mind when considering a loan is the interest rate. Due to cheap interest rates, quick processing, and minimal or no foreclosure charges, gold loans are now regarded one of the viable options for loan borrowers. Gold loans are secured credit options that require you to keep your physical gold in the form of jewellery or coins as collateral against your funding needs. According to RBI norms, a bank or non-banking lender can only finance up to 75% of the value of gold held as collateral by borrowers. Because gold prices fluctuate on a daily basis, most banks and NBFCs will value your gold based on the market rate on the day you request for the loan. When gold prices rise, you become eligible for a larger loan. However, how does the gold loan work? In India, interest rates are set. There are a few elements that determine interest rate when taking out a gold loan from a lender. These include the amount of your loan, your credit score, external benchmarking, monthly income, and so on. Before settling on an interest rate, a lender examines these criteria. The loan amount is: The size of your loan has a significant impact on your interest rates. As you are aware, the loan amount is determined by the overall gold value guaranteed by you; the more gold you have, the more you can borrow. However, the bigger the loan amount, the higher the gold loan interest rates. Lenders set interest rates based on the value of the gold pledged. Gross monthly income: In comparison to other loans, obtaining loan approval from a lender is rather easy for a gold loan borrower. Lenders, on the other hand, inquire about monthly income before determining the interest rate. Your repayment ability is determined by your monthly income. The bigger your monthly income, the greater your repayment capacity. A bigger monthly income makes it easier to secure a low-interest loan. As a result of your high repayment capability, lenders will be confident that you will be able to repay the loan on time. A low monthly income has an impact on the loan amount as well. Banks use benchmarking to determine the interest rate. To determine the gold loan interest rate, lenders mostly use two types of benchmarking methods: MCLR linked lending rate (internal) and repo rate linked lending rate (external). The interest rates on gold loans vary from one lender to the next, depending on the benchmark they use. The repo-rate linked lending rate is the lending rate linked to the repo rate, whereas the MCLR linked lending rate is the lending rate tied to the MCLR. Credit rating Banks and NBFCs utilise your credit score as one of the key factors in determining the interest rate you'll pay on your gold loan. A excellent repayment history and high creditworthiness of a borrower are reflected in a high credit score. Credit score determines an applicant's eligibility for unsecured loans, whereas credit score affects the interest rate on a gold loan.

The country's largest private bank, dubbed 'Xpress Auto Loans,' is offering speedy car loans using a digital interface, which it claims is an industry first and likely among the first such offerings globally. After a home loan, the second most expensive item for which a consumer borrows money is a car loan. HDFC Bank appears to have hopped on the speedy delivery bandwagon just days after announcing its merger with HDFC. At a time when multiple companies are making news for their 10-minute delivery, India's largest private sector bank is planning to offer a car loan in just 30 minutes! After a home loan, a car loan is the second most expensive item for which a consumer borrows money, and HDFC Bank is betting on the figure, offering end-to-end car loans to customers in 30 minutes via an online platform. Car Loans Xpress The country's largest private bank, dubbed 'Xpress Auto Loans,' is offering speedy car loans using a digital interface, which it claims is an industry first and likely among the first such offerings globally. At the moment, the average time it takes a potential car buyer to acquire a car loan is roughly 48-72 hours. HDFC Bank intends to hand out Rs 10,000-15,000 crore in vehicle loans through its online rapid lending service in FY23 without having a physical presence. In addition, the bank intends to do the same with two-wheeler loans. Through Xpress Car Loans, we hope to pull in at least 20-30% of our existing clients and non-account holders.

The term "Neo banks" refers to banks that have no physical locations. Neo bank accounts can be opened from the comfort of one's own home, and they offer a variety of options and flexibility to its consumers. Customers, particularly millennials, are moving away from traditional banks in favour of internet banking as financial technology becomes more popular. As a type of financial technology company, neo banks exist. Customers benefit from their services because of the safety net provided by traditional banks. Some Neo Banks are able to provide greater interest rates due to their partnership with another bank. For example, Niyo has partnered with Equitas to offer a savings account with an interest rate of 7% per year. Neo banks can be divided into two categories according on the services they provide: credit-based and savings-based. Loans from the Neo Banks Neo banks, which process applications swiftly and can disburse loans quickly, are an option for those in need of money. To do this, the Neo banks demand an online verification process that includes a photo ID, an Aadhaar number, and other appropriate papers. MoneyTap, for example, provides personal loans to salaried workers earning at least 30,000 a month. However, they demand a higher interest rate, starting at 13% and lasting no more than three years. In order to make loans, neo banks work along with a bank or an NBFC. For example, MoneyTap has partnered with Apollo Finvest India, DM Finance, and HDB Financial Services, among other companies. In order to get the loan swiftly, it is important to have a Neo bank savings account in order to do so. Data protection is a major concern Before granting you a loan, all of these Neo bank applications demand access to your phone's phone book, gallery, and other apps. As a result, when you apply for a loan, you put your private information at risk. As a result, the RBI does not control Neo banks directly, but each Neo bank is always linked to a physical bank that is regulated by the central bank. RBI does not regulate Neo banks directly. Deposit Insurance and Credit Guarantee Corporation (DICGC) guarantees bank deposits up to a sum of 5 lakh for Neo Banks, too. For Savings Neo banks allow its customers to save money in addition to offering them loans. Savings-led Neo banks offer a variety of services, including prepaid and debit cards issued in conjunction with brick-and-mortar financial institutions. These Neo-banks keep in touch with their clients on a frequent basis. Customers' spending habits are tracked, and customised solutions are offered based on such data. There are no branches of Neo Bank, a digital-only bank. For example, Fi Money, which works with Federal Bank, recommends that you save up to ₹50-100 every time you use a restaurant delivery app to order. Similarly, there is a Neo Bank Jupiter Money with money management tools that allow you to save for the future. Interest is paid on the money as it accumulates, and the interest continues to accrue at the same time. Experts believe that a Neo Bank account is not a suitable substitute for a traditional bank account. So, if you want to get a personal loan, you can go to a traditional bank instead of a Neo Bank. And borrowers should be aware that the fintech companies running their Neo banks have access to their cell phone data.

Occasionally, customers receive a complaint against their bank or a non-bank financial corporation (NBFC), but are unsure how to proceed. The Reserve Bank of India (RBI), India's central bank, has implemented a complaint management system (CMS) through which users can register grievances against all financial service providers regulated by the central bank. To further educate the public, the RBI has been sending messages that read, "Lodge a complaint against any bank, non-bank financial company, or payment system participant on https://cms.rbi.org.in under the RBI-Integrated Ombudsman Scheme." For additional information, contact 14440 –RBI". The following is a step-by-step guide to filing a complaint with the RBI's 'complaint management system': Step 1: Navigate to https://cms.rbi.org.in and click the "submit a complaint" link. Step 2: Verify your identity by entering the Captcha code. Step 3: Enter the complainant's name and mobile phone number. Select 'Obtain OTP'. Step 4: Verify your entry of the OTP Step 5: Add additional information such as an email address and a complaint category from the drop-down menu. Additionally, enter the details of the entity against which you wish to file a complaint. Select the radio buttons that correspond to the respective queries and click Next. Step 7: Confirm Whether You Have Filed a Written Complaint with the Regulated Entity- If you have filed a written complaint with the regulated entity Step 8: Enter the date of the complaint and upload the complaint file from your device. Step 9: Select the appropriate radio buttons for entity queries, as well as dispute details such as transaction amount and date. Step 10: If you have any supporting documents for your transaction, upload them, then click 'Authorisation' and check the declaration. 11th Step: Select Review and Submit. You will be given the option to download the complaint in PDF format.