The RBI has flagged concerns over rising volatility in gold prices and advised lenders to exercise caution in the gold loan segment.
Use these loans to meet emergency needs, and not to fund holidays or luxury purchases.
Borrowers should consider switching from an MCLR-linked to a repo rate-linked loan.
'Choose an FD tenure that provides a balance between returns and the horizon for which you can invest.'
One should avoid keeping excessive funds in one's savings account.
The Saral Jeevan Bima product to be offered by all life insurance companies will be a non-linked non-participating individual pure-risk premium life insurance plan.
The first and most important check you must run is to see if you have adequate life cover.
As opposed to term insurance that keeps you covered for a specific time period, opting for a whole life term plan means that you are covered for your entire life, says Santosh Agarwal.
To determine the amount of coverage one should purchase, first add up all of your financial obligations, such as student loan, credit card debts and your mortgage balance.
Don't sidestep the idea of investing in term insurance. Here's why.
'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.'
'If you are looking to fulfil imminent long-term commitments, the new online Ulips are the right product for you,' notes Santosh Agarwal/Policybazaar.com.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
Agents often influence customers into buying new products every year instead of continuing with their existing policies
Did you know that annual premium-paying option is cheaper than a monthly premium paying option?
Add-ons such as critical illness or disability due to accident are available on payment of a little extra money, and they can take care of any unforeseen, unfortunate developments, says Santosh Agarwal
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.
You are charged the same premium and also enjoy continuity benefits
Use whole life term policies for legacy planning. By doing so, your annual outgo will come down and returns will improve, suggest Chirag Madia and Tinesh Bhasin.
Conservative investors and those in the lower tax bracket should opt for these, experts tell Sanjay Kumar Singh
If you plan to withdraw money from your corpus regularly to meet expenses, have a portfolio of stable instruments.
While there's tax arbitrage advantage in ULIPs now, experts say investors should prefer mutual funds for long-term savings.
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