Know About Finance

Building a strong financial foundation is crucial for long-term stability and growth. With the right strategies, you can harness the power of savings to secure your future. Here are some smart strategies to help you build a robust financial base. Set Clear Financial Goals Setting clear financial goals is the first step in building a strong financial foundation. Define what you want to achieve in the short, medium, and long term. Your goals might include saving for a home, starting a business, or creating an emergency fund. By having clear objectives, you can create a roadmap to reach them. Use specific and measurable targets to track your progress. Create a Budget and Stick to it A budget is a crucial tool for managing your finances. List all your income sources and expenses. Categorise your expenses into needs and wants. Allocate a portion of your income to savings. Sticking to your budget helps you avoid unnecessary spending and ensures you have enough money for your financial goals....

Two-wheeler loans help many people buy their dream motorcycles or scooters. Understanding these loans can help you make informed decisions. Bajaj Markets , an online financial marketplace, offers various products and services, including two-wheeler loans through Bajaj Auto Finance.  Secured Two-wheeler Loans A secured two-wheeler loan requires collateral. This collateral is usually the two-wheeler you are purchasing. If you fail to repay the loan, the lender can take the vehicle. This type of loan usually has a lower interest rate because it is less risky for the lender. It is an attractive option for buyers who can provide collateral. Unsecured Two-wheeler Loans An unsecured two-wheeler loan does not require collateral. These loans are riskier for lenders, so the interest rates are often higher. However, they could be a suitable option if you do not want to pledge your asset as security. These loans may suit different needs and financial situations. Fixed-rate Two-wheeler Loans A ...

Fixed deposits (FDs) are a popular way to earn a stable income. They offer guaranteed returns and security. This guide will help you maximise your monthly interest on fixed deposits. Follow these steps to make the most of your investment. Choose the Right Financial Supermarket A financial marketplace, such as the Financial Supermarket by Bajaj Markets, offers various fixed deposit options. You can compare interest rates, tenors, and other features to find the highest interest rate and the most favourable terms. Select the Best Tenor The tenor of your fixed deposit affects the interest rate. Longer tenors usually offer higher rates. However, choose a tenor that matches your financial goals. If you need access to funds sooner, opt for a shorter tenor. Balance between earning a good interest rate and meeting your liquidity needs. Opt for Monthly Payouts Some banks and NBFCs offer fixed deposit monthly interest payouts. This option is ideal for those seeking regular income and helps in co...

Securing the best deal on a car loan requires strategic planning and smart decision-making. With car loans being a long-term financial commitment, ensuring smaller Equated Monthly Instalments (EMI) can significantly ease your financial burden. Follow these five smart tips to get low EMI car loans. 1. Compare Loan Offers from Multiple Lenders One of the most effective ways to secure the lowest EMI is by comparing loan offers from various lenders. Different financial institutions provide varying interest rates and loan terms. By exploring multiple options, you can identify the lender offering the best terms for your needs. A comprehensive comparison allows you to leverage competitive interest rates and flexible repayment terms, directly impacting your EMI. For a hassle-free comparison, visit Bajaj Markets website, which offers a diverse range of car loan options from leading lenders. 2. Opt for a Longer Loan Tenure Choosing a longer loan tenure can spread the repayment over an extended p...

Home loan EMI calculators are indispensable tools for anyone looking to purchase a home or refinance an existing loan. They simplify the complex calculations involved in determining loan affordability, monthly payments, and overall interest costs. Here’s how these calculators contribute to more effective financial planning: 1. Estimating Monthly Repayments One of the primary functions of a home loan EMI calculator is to estimate monthly repayments. By inputting the loan amount, interest rate, and loan tenure, you can quickly see what your monthly payments will be. This helps you gauge whether you can comfortably afford the loan alongside your other financial commitments. Knowing your monthly payment amount in advance allows you to budget more effectively and avoid overextending your finances. So, consider using these tools easily available online like the home loan EMI calculator on Bajaj Markets. 2. Understanding Total Loan Costs EMI calculators provide a clear picture of the total co...

A credit score is a crucial metric used by lenders to assess an individual’s creditworthiness. It significantly influences the interest rate offered on home loans, which can impact the overall cost of the loan and the affordability of homeownership. Here’s an in-depth look at how credit scores affect home loan interest rates: 1. Understanding Credit Scores A credit score is a numerical representation of a person’s creditworthiness. In India, credit scores are provided by credit bureaus like CIBIL, Experian, and Equifax. Most lenders consider the CIBIL score which ranges from 300 to 900. It is derived from an individual’s credit history, which includes their borrowing and repayment behaviour, the length of their credit history, types of credit used, and recent credit inquiries. You can check your score for free on digital marketplaces like ( bajajfinservmarkets.in ).  2. Low Credit Scores and Higher Interest Rates Individuals with low credit scores are perceived as high-risk borrowe...

When considering a fixed deposit (FD) as a savings tool, comparing FD rates across various banks and non-banking financial companies (NBFCs) is essential to maximise returns. Fixed deposits offer a safe and reliable way to earn interest on your savings over a specified tenor. As of July 2024, several banks and NBFCs provide competitive interest rates on FDs in India. Below is a detailed comparison of some of the highest FD rates currently available. Regular FD Rates in India To achieve the highest returns, it is crucial to evaluate the FD interest rates provided by various issuers. Here is a snapshot of some of the highest FD rates available as of July 2024: FD Issuer Maximum Interest Rate (p.a.) DCB Bank 8.05% IDFC FIRST Bank 7.90% AU Small Finance Bank 8.00% Utkarsh Small Finance Bank 8.50% RBL Bank 8.00% Bajaj Finance 8.60% *Disclaimer: The mentioned rates are subject to change as per the issuer's discretion. Be sure to check the rates on the issuer’s official websites before b...