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Why Are Fixed Deposits the Best Investment for Your Future

A fixed deposit refers to an investment in which money deposited in a bank, bank savings account, and with other financial institutions or organization remains fixed for a particular time and income on that is as per a predefined interest rate generated at an interim basis on the principal amount. The best thing about FDs is that they offer assured returns. To say the least, your money will grow steadily and there will be no worrying about market fluctuations.

Benefits of Fixed Deposits

Much Higher Rate of Interest: Probably, this is the biggest benefit which one gets with regard to investing in fixed deposits with a much higher rate of interest in comparison to saving accounts. The rates on the AU Bank FD schemes are pretty competitive when the interest goes up as high as 7.75% per annum, hence ensuring that your savings grows at a much faster pace.

Guaranteed Returns: Since the fixed deposit is done for a specific period and gives a fixed rate of interest for the whole tenure, you get a predictable return on your money. This makes it perfect for risk-averse people who prefer a stable investment having low risk.

Security: Further, deposits under the Fixed deposit are also covered with DICGC, where DICGC has a safety coverage of up to ₹5 lakhs against your deposits. Thus, it holds one of the safest investment channels in the market.

Tax Saving FDs: Under Section 80C of the Income Tax Act, AU Bank offers tax saving fd that offer tax benefits. There is a maximum limit set at ₹1.5 lakh per financial year for the investment in such FD schemes. The invested amount will have an accompanying tax deduction.

Benefits to the Senior Citizens: The senior citizens are provided with an additional interest of up to 0.50% p.a on their fd. It becomes an added advantage for the elderly investor who is looking to generate income in the old age.

You can also calculate the returns on your FD in an instant, without manually applying a formula. You can try various amounts, interest rates, and tenures to know which amount yields the highest returns. The AU Bank FD calculator ensures that you get the most accurate information to plan your strategy of investment. It means that you do not have to make manual calculations and just focus on other aspects in your financial planning.

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Why Are Fixed Deposits the Best Investment for Your Future

A fixed deposit refers to an investment in which money deposited in a bank, bank savings account, and with other financial institutions or organization remains fixed for a particular time and income on that is as per a predefined interest rate generated at an interim basis on the principal amount. The best thing about FDs is that they offer assured returns. To say the least, your money will grow steadily and there will be no worrying about market fluctuations.

Benefits of Fixed Deposits

Much Higher Rate of Interest: Probably, this is the biggest benefit which one gets with regard to investing in fixed deposits with a much higher rate of interest in comparison to saving accounts. The rates on the AU Bank FD schemes are pretty competitive when the interest goes up as high as 7.75% per annum, hence ensuring that your savings grows at a much faster pace.

Guaranteed Returns: Since the fixed deposit is done for a specific period and gives a fixed rate of interest for the whole tenure, you get a predictable return on your money. This makes it perfect for risk-averse people who prefer a stable investment having low risk.

Security: Further, deposits under the Fixed deposit are also covered with DICGC, where DICGC has a safety coverage of up to ₹5 lakhs against your deposits. Thus, it holds one of the safest investment channels in the market.

Tax Saving FDs: Under Section 80C of the Income Tax Act, AU Bank offers tax saving fd that offer tax benefits. There is a maximum limit set at ₹1.5 lakh per financial year for the investment in such FD schemes. The invested amount will have an accompanying tax deduction.

Benefits to the Senior Citizens: The senior citizens are provided with an additional interest of up to 0.50% p.a on their fd. It becomes an added advantage for the elderly investor who is looking to generate income in the old age.

You can also calculate the returns on your FD in an instant, without manually applying a formula. You can try various amounts, interest rates, and tenures to know which amount yields the highest returns. The AU Bank FD calculator ensures that you get the most accurate information to plan your strategy of investment. It means that you do not have to make manual calculations and just focus on other aspects in your financial planning.

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Credit cards demystified – spend smarter, save more

When you think of what you can achieve financially with a credit card perhaps the sky is the limit. The problem with this situation is that the jargon might tend to overwhelm you a bit at times. In case you have ever wondered how magical plastic money can be for you or been perplexed by offers that keep coming your way and never fail to entice you it is time that you got that cloud cleared from your head. In this article, we will attempt to demystify the phenomenon of credit cards by talking about their pros and cons and show you how you can use them the best.  

Pros and cons of credit cards

On the positive side, credit cards offer you financial convenience right at your fingertips and can help you build your credit score provided you are careful and steadfast about your credit card bill payment. These cards also offer you a whole lot of rewards and other perks to sweeten the deal and provide you with security and purchase protection as well. They are an emergency lifeline and come with interest-free loans and grace periods too. However, the rates of interest on these cards are high and they may tempt you to overspend as well. Plus they have fees that cannot be avoided – they can also have a negative impact on your credit score, and build up debt quickly.

How to use your credit card wisely

Being smart about spending on your travel credit card can help you maximize its advantages as well. So, first of all, always have a budget and adhere to it. Make sure to pay off your balance in full each month and always select the right card for yourself. Make sure that you never use these for impulse buys and keep track of the money you are spending by using them. Finally, be timely with your payments – without fail.  

Remember that even if you have got your card from a good bank such as AU Bank it is very important that you are aware of the pluses and minuses of plastic money so that you have all that you need to be equipped with to make informed choices. If you use them wisely credit cards can be the best financial tools you ever used – the convenience, security, and rewards they offer are second to none. However, you must also know their pitfalls and navigate them carefully.

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Tips to keep in mind while using credit cards overseas

When you are traveling outside India you will deal mostly in cash. However, if you can use credit cards for the same purpose it can make your overseas travel a whole lot simpler. That way, you would not have to deal with issues like converting currency. If you have the right credit card you would not even have to pay any foreign transaction fee for the same! This way, you would also be able to ward off criminals such as pickpockets as these cards are always easier to keep safe and hide. Even in case the card gets stolen you would not lose any money for sure!

Go for credit cards that do not have foreign transaction fees

This is the first factor that you must keep in mind when you are aiming to select a travel credit card. A lot of credit card issuers usually charge fees when you use their cards to buy anything while traveling outside your country and these foreign transaction fees can be anywhere between 2 and 5% of the purchase price. This means that you might end up paying significantly higher than the listed price of the product or service and this can add up to a lot even as you tour and buy.

Talk to your credit card issuer before you leave for the trip

Once you have the right card talk to your credit card issuer before you leave for the trip and apprise it of your travel plans. Ask the people working for the company to provide you with a number or two that you can call in case you need assistance with overseas purchases and the consequent credit card bill payment. Doing this will make sure that they do not suspend your card considering your overseas purchases and transactions to be suspicious activities. This way, you can also call them for free in case of issues.

Apart from these, you would do well to keep a few other things in mind. Always steer clear of dynamic currency conversions and memorize your PIN (personal identification number). Dynamic currency conversion is a feature that lets you buy overseas with your home currency – this can mean unnecessary expenses. One of the best steps that you can take in this context is to get the credit card from a top bank such as AU Bank that provides you with all the benefits and features that you need from such cards.

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Understanding Different Types of Credit Cards

Credit cards have become an indispensable tool in the modern financial landscape as they offer convenience as well as rewards, and even help you build a strong credit score if used thoughtfully. Multiple credit card offerings are available these days by different banks, that are designed to meet the diverse financial and lifestyle needs of individuals. This article will help you understand the major types of credit cards and the benefits they offer so you can apply for credit card that is best suited to your financial needs.

Standard Credit Cards

These are the most common credit cards and they come with a predetermined limit on purchases. Standard cards offer various features such as rewards programs and purchase protection, however, they carry annual fees and interest on carried-over balances.

Travel Credit Cards

A travel credit card is specially designed for frequent travellers and offers travel-related perks such as access to airport lounges, priority boarding, no foreign transaction fees, exclusive discounts on hotels, travel insurance, discounts on various OTA platforms, etc.

Student Credit Cards

These cards are designed for students who are new to credit and feature lower credit limits so they can build their credit history slowly and responsibly. Student credit cards often come with perks like cashback rewards and financial education resources.

Business Credit Cards

Business credit cards are tailored solutions for SMBs and provide separate credit lines for business expenses to help businesses track their finances seamlessly. Business Credit Cards come with business insurance and offer rewards on business travels and additional cashback on purchases such as office supplies.

Rewards Credit Cards

Rewards cards encourage spending by offering cashback, credit points, and other rewards such as discount vouchers on each spending done by the card user. These rewards can later be redeemed for booking travel, buying merchandise, etc. making them a lucrative option.

Cashback Credit Cards

Cashback cards provide a percentage of purchases back as cash rewards based on the different spending categories such as groceries, utilities, etc. These cards are ideal for those who pay their credit card balance in full every month.

In addition to this, if you are someone who likes luxury experiences and exclusive perks and services, you can opt for a metal credit card. Thus, different types of credit cards are suitable for people with different spending patterns and lifestyles and choosing the right one can help you maximize benefits on your spending and purchases and achieve financial well-being.

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Revamp Your Bedroom: How to Choose the Right Metal Bed for a New Beginning

Ready to transform your sleep space from snooze-worthy to dazzling dreamscape? It's time for a bedroom revamp, and what better way to do it than with a touch of metal magic! Choosing the right metal bed is the secret ingredient for a bedroom makeover that will have you waking up with a grin every morning. So, let's dive into the funky world of metal beds and discover how to pick the perfect bedroom bed for your new beginning!

1. The Bold and Beautiful:

Metal beds are the rockstars of bedroom bed furniture, and they come in all shapes and sizes. For a bold statement, opt for a bed with a headboard that's a piece of art in itself. Think swirling designs, funky patterns, or even a splash of vibrant color. This isn't just a bed; it's a bold declaration of your personality!

2. Size Matters, Style Matters More:

Whether you're in a cozy nook or a sprawling loft, single metal bed come in sizes to fit every space. But here's the real scoop – it's not just about size; it's about style. Go for a bed that suits your vibe, whether it's a sleek and minimalist frame or a whimsical, curvy design that turns your bedroom bed into a fantasy land.

3. Mix and Match Metals:

Who claims you must adhere to a single metallic hue? Mix and match your metals for an eclectic and trendy look. Combine brass with silver, or throw in some copper accents. It's like a metal orchestra playing the symphony of your unique style. The key? Let your imagination run wild!

4. Glam It Up with Canopy Charm:

Feeling a bit extra? Go for a metal canopy bed that adds a touch of glam to your bedroom. It's like having your own personal oasis. Hang some fairy lights or drape sheer curtains for that dreamy, Instagram-worthy vibe. You'll be counting sheep in style!

5. Think Beyond the Bed:

Who says metal bed are limited to just the bed frame? Think outside the box and explore metal nightstands, dressers, or even a funky metal chair for that corner reading nook. It's a metal takeover, and your bedroom is the canvas.

Choosing the right metal bed is not just about sleep; it is about creating a space that reflects your personality, style, and a hint of funky flair. So, dive into the world of metal magic, pick a bed that makes you smile, and get ready for a bedroom revamp that's as groovy as you are! Sweet dreams, rockstar!

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Gypsum Ceiling Designs: Enhancing the Aesthetics of Your Home

When it comes to home interiors, the ceiling often plays a crucial role in defining the overall ambience and style of a room. In recent years, gypsum ceiling designs have gained immense popularity for their versatility and aesthetic appeal. These modern gypsum ceiling designs offer a myriad of possibilities to transform any space, be it a living room, bedroom or dining area. Let's dive into the beauty and benefits of gypsum ceiling design.

Versatility and Customization 

Gypsum is a flexible material that can be moulded into various shapes and patterns, making it an ideal choice for creating customized ceiling designs. Whether you prefer sleek and minimalist lines or intricate and ornate motifs, gypsum ceilings offer endless design options to suit your taste and complement your home's interior decor. 

Modern Elegance 

Modern gypsum ceiling designs exude elegance and sophistication, elevating the visual appeal of any room. From contemporary geometric patterns to abstract artistry, gypsum ceilings can add a touch of modernity and artistic flair to your living spaces. 

Concealing Imperfections 

Apart from its aesthetic appeal, gypsum ceiling design also serves a practical purpose. Gypsum boards can effectively hide wiring, pipes and other structural elements, giving your ceiling a clean and seamless look. This concealed integration not only enhances the aesthetics but also ensures a clutter-free and visually pleasing environment.

Acoustic Benefits

Gypsum is known for its sound-absorbing properties, making gypsum ceilings an excellent choice for improving room acoustics. Whether it's reducing echo in a large living room or creating a peaceful environment in a bedroom, gypsum ceilings can contribute to a more serene and comfortable living space.

Durability and Low Maintenance 

Gypsum ceiling design is not only visually appealing but also durable and low maintenance. They are resistant to moisture and do not attract mould or mildew, ensuring long-lasting beauty and structural integrity. 

Energy Efficiency 

Gypsum ceilings also offer energy-efficient benefits. This energy-efficient feature translates into cost savings on utility bills while contributing to a greener and more sustainable living space.

Gypsum ceiling design has emerged as a popular choice for homeowners seeking to enhance the aesthetics and functionality of their living spaces. With their versatility, modern elegance, practical benefits and energy efficiency, gypsum ceilings can truly transform the look and feel of any room. The brand Gyproc, with its expertise in interior solutions, offers a wide range of gypsum ceiling designs that cater to different architectural styles and individual preferences. So, embrace the beauty and benefits of gypsum ceilings from Gyproc and elevate the aesthetics of your home to new heights.

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Major Dissimilarities Between Current Account and Savings Account in Today’s Time

If you are just starting out in your career or launching a new business, it is natural to have questions about the right type of bank account for your needs. With so many options available, it can be difficult to navigate through the choices. As an active trader or entrepreneur, you might find yourself in situations where multiple payments, receipts, and transactions are necessary. In such cases, many prefer the convenience of a digital Current Account. But what exactly is a Current Account and how does it differ from a Savings Account? Let's dive into the details to understand their distinctions more clearly. Allow me to share with you a comprehensive list that will shed light on the key distinctions between a current account vs savings account. This will help you gain a better understanding of these two types of accounts and make an informed decision based on your financial needs and goals.

A savings account provides a secure way to save money, with limited transactions allowed. On the other hand, a current account is designed for your everyday banking needs, allowing you to handle daily transactions smoothly and efficiently.

A savings account is the perfect choice for individuals who have a steady monthly income or are salaried employees. On the other hand, current accounts are well-suited for traders and entrepreneurs who require frequent access to their funds.

Did you know that having a savings account can be a smart financial move? Unlike current accounts, savings accounts actually earn interest, usually around 4%. This means that your money can grow over time without any effort on your part. On the other hand, current accounts are designed for day-to-day transactions and do not earn any interest. So, if you are looking to maximize your earnings, it's worth considering opening a savings account instead of solely relying on a current account.

Overdrawing occurs when you withdraw more funds from your account than what is available, resulting in an overdrawn status. It's important to note that savings accounts typically do not offer overdraft options, while current accounts generally provide this convenient feature for their customers.

Maintaining a minimum balance in your savings account is typically quite affordable. However, when it comes to current account, the required minimum balance tends to be significantly higher. This distinction highlights the diverse purposes and functionalities of each account type.

Both of these accounts come with their own pros and cons, but ultimately, it is the account holder who gets to make the final decision. However, rest assured that choosing the right account can be made easier by considering one's specific account requirements and goals.

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The Motilal Oswal’s Research 360 App is a one-stop platform for investors to perform detailed technical and fundamental research. In a nutshell, this application is for financial stock market research and market analysis.

[vijaydeep1278]

The Motilal Oswal’s Research 360 App is a one-stop platform for investors to perform detailed technical and fundamental research. In a nutshell, this application is for financial stock market research and market analysis.

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Is the convenience of zero balance accounts worth the cost?

Of late, it has become a fad of sorts to apply for zero balance saving account as they offer people the convenient option to bank without having to bother about any minimum balance requirement. Banks often market these accounts as ideal solutions for individuals who do not wish to pay any fee for their banking and thus enjoy a greater degree of flexibility as far as managing their finances is concerned. However, even though these accounts appear to be appealing propositions at first glance they do have their share of disadvantages and this is what we would talk about over here.

They have limited benefits and features 

Depending on where you open digital savings account with zero balance this is something that you could jolly well have to deal with. This is one of the most significant disadvantages of these accounts especially when you compare them to the regular savings accounts that you may be getting at the same bank. This may not happen at a top bank such as Axis Bank but you can expect this to be the norm at the banks that are known to be bad service providers. The best that you would get in such cases is basic banking services.

They may have higher transaction fees 

This could be because the bank is already providing you with the facility of zero minimum balance requirement. The main reason over here is that with these accounts the bank cannot depend on you to maintain any money in it for it to cover its losses and expenses. This is why they have these higher fees to compensate for it. On top of this, you may also not get any savings account rate of interest in these cases and that would be because of the same reason we talked about already. 

 Conclusion 

There could be several other problems with these accounts that you need to be wary of in these cases. For starters, the credit opportunities in these accounts are limited in comparison to the regular accounts at the same bank. This is because, with zero balance accounts, banks focus mainly on providing basic banking services only. In fact, in such cases, they may not even offer you a credit card or loan. There is also the risk that your account could be closed in certain cases. Also, by investing in these accounts you could be missing out on an opportunity to grow your money. 

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Tips to Use Your Credit Card More Responsibly

These days, a lot of people in India use a credit card online and this is one major reason why credit card debts are rising at such an alarming rate. Back in 2016 RBI (Reserve Bank of India) revealed that the outstanding amount on credit cards in the country was 42,000 crore rupees. During the global recession of 2008, this figure was estimated to be at 27,000 crores. Going by this, it has to be acknowledged that people in India are paying a high price for shopping. After all, so many people are using these cards – both online and offline.    

 Never roll over your credit card debt 

 This means paying off your credit card bill as soon as you can. Right now, credit card issuers let you pay at least 5% of your due amount each month. The thing is that this is precisely what you must avoid at all costs. Rather, always try to settle your debt in full by the due date. If you roll over the outstanding balance to the next cycle your interest rate could increase by anywhere between 3 and 4%. So, if you keep rolling over and also use the card simultaneously each month soon you would fall into a debt trap.

 Never use it more than you need to

 Never use over 50% of your credit limit as that would ensure you have more money in your savings account. Usually, you have a period where you do not have to pay any interest on purchases with your credit card. This can go up to 45+ days too! However, if you want to avail of this benefit you have to make sure that you have cleared all your dues by then. This means that if you are rolling over any amount to the next billing cycle you do not get this benefit.

 You can be sure that if you get the card from a leading service provider such as Axis Bank you would have the most pleasant experience of using the same as these banks normally offer the best terms and conditions in this case and the finest offers and rewards too! All these factors make sure that using a credit card from them is one of your best financial decisions. Apart from these steer clear of some other mistakes with these cards such as using them to withdraw cash. Try to transfer your balance to cards with lower interest rates.