If you plan to invest in an FD, go for the 12-15-month tenure. This will allow you to redeploy maturity proceeds at higher rates (if rates rise), advises Sarbajeet K Sen.

in the longer run, there is no substitute for a standard term, accident, and a comprehensive health cover, with adequate sum insured that will give you round-the-clock and year-after-year coverage.

It is advisable to avoid a fund until it develops a track record.

If you invest for the shorter-term now, you will be able to roll over to higher rates when the interest-rate cycle turns, advises Sarbajeet K Sen.

Is the latest mobile or car or a house the goal? If so, the savings and investments should be aimed at catering to it. The amount needed has to be worked out, and money needs to be saved, accordingly, suggests Sarbajeet K Sen.

The benefit offered under small-ticket insurance may not be huge, but it is better to have cover, suggests Sarbajeet K Sen.

'It is advisable to invest in them early in life and stay invested for a longer period to achieve long-term goals and accumulate wealth.'

'Opt for this facility only after doing a cost-benefit analysis: Will the savings in interest cost by parking your surpluses in the home loan overdraft account outweigh the higher interest cost of this loan?'

A Codicil is a document created by the testator to make changes to an existing will, points out Sarbajeet K Sen.

Even investors with sums as low as Rs 1,000 per month can start their investment journey.

While there is easy access to money, the flip side is the high interest rate and processing fees, points out Sarbajeet K Sen.

You can build your credit score and get tax benefit, but defaulting will make life difficult.

If the credit card is not used judiciously, it can cause havoc with one's personal finances, warns Sarbajeet K Sen.

'It reduces the immediate financial strain on your family and helps you take control of your finances without being dependent on your parents.'

After the rationalisation and categorisation of mutual fund schemes undertaken by the Sebi in October 2017, overnight funds have emerged as a distinct category.

NSC scores high on all three parameters that conservative investors are seeking -- safety, tax-adjusted returns and liquidity.

Secured credit cards offer benefits similar to regular credit cards and hence an applicant should try and get a card with lower fees and more features, suggests Sarbajeet K Sen.

Unlike bank FDs that are considered risk-free investments, NCDs do carry a certain amount of risk, primary among them is the risk of default, either servicing the interest payment or meeting their principal repayment obligations.

While buying a term plan, do check how much money will be paid in lumpsum and how much of the money will come to the surviving family as a regular payout, suggests Sarbajeet K Sen.

What are the various insurance covers in your portfolio? Are they adequate to protect you and your dear ones in the event of your demise? Have you missed out on any of the insurance covers?