Category: Personal Finance

1. StopElon:

This was the crypto which originated after investors shown their aggression or hate towards Elon Musk on irrationally influencing the price of cryptocurrency bitcoin and other altcoins. Now as per the Laptomag site, the coin can be purchased from PancakeSwap using the Trustwallet app. All a buyer needs is a Binance coin (BNB).

2. Polygon (MATIC):

It is the original currency of Polygon or Matic Network cofounded by 3 Indian IT engineers. Polygon primarily works on addressing key issues that are linked to blockchain technology such as a higher gas fees as well as slow speed and that too without sacrificing on security.

Matic was among the currencies that traded positively when there was across the board sell-off in the cryptocurrency market. The top exchanges for trading in Polygon as per the site are Binance, Huobi Global, OKEx, FTX, and CoinTiger.

This cryptocurrency as per the coinmarketcap.com ranks 16th after first ranking as the top 20 cryptocurrencies.

3. Shiba Inu(SHIB):

This cryptocurrency post Dogecoin huge rally came into existence and created a huge wave. Actually the cryptocurrency drew its name from a Dog called SHIBA INU which pushed several of the investors to invest in cryptotokens. Also know as ‘Doge Killer’ it was to be listed on their own exchange, ShibaSwap. As per the website as much as 50% of the token is locked on Uniswap, while the remaining 50 percent was destroyed by Vitalik Buterin.

4. Snoop Doge:

The token is influenced by strains of OGE including HOGE, WOGE etc. The digital token along with other partners can serve as a collateral in establishing real-world synthetics associated with cannabis stocks & assets. There is not given the m-cap for this digital coin on the site plus only the total tokens in supply is available which is at 42,000,069.

5. Graviton:

This crypto can be traded on UniSwap and has a coinmarketcap ranking of 5271. Notably, cryptocurrency’s market cap is calculated by multiplying the number of coins minted with the price and this is crucial in the crypto world as it gives an idea of the crypto valuation. Also, these are an indication of the cryptocurrencies’ dominance in a universe of other currencies.

6. SafeMoon:

This is another meme coin and is a Defi or decentralized finance token. As per the Coinmarket cap site is a combination of RFI tokenomics and an auto-liquidity generating protocol. SafeMoon as per reports shall come up with a non-fungible token (NFT) exchange, as well as charity projects and crypto educational apps. This crypto was launched in March 2021. SafeMoon similar to StopElon can be bought on PancakeSwap and also BitMart.

7. Zoo Token:

This token is also among the most viewed tokens on the Coinmarketcap.com. Coins with animal names have also create a frenzy in the financial world Now ZooToken shall work as the centre for these Animal Coins” key-values.

New cryptocurrencies’ drawing huge investor interest with m-cap etc.

While there have been added some of the cryptos today such as Dick on the Coinmarketcap.com there is no price change for them so not mentioned here. Also, for some of them which have been added just 3-4 days back on the exchange, there is no market cap. Nonetheless for collating the data we have included all such new cryptocurrencies that are popular as well as most searched.

GoodReturns.in

1. Tenure of your deposit

FDs also come in a variety of terms, ranging from seven days to ten years. This means that it has all three categories of investments: short-, medium-, and long-term. Long-term investments are normally more than three years, medium-term is usually between one and three years, and short-term is usually less than one year. It also refers to a fixed-term investment like a fixed deposit of a bank, NBFC or post office. The term of an investment has a big impact on an investor’s risk perception, and the term is also determined by some factors such as where you want to invest your money and when. Investing for one’s potential financial needs necessitates a significant amount of time and managerial capabilities. However, one example is determining one’s financial objectives. Once they’ve been found, the next step is to determine the individual’s risk appetite and investment goals. The aim of investing your money is the first consideration rather than just putting it into an investment vehicle. To cope with the difficult market situation, a careful evaluation of individual requirements and appetite is necessary. It is therefore important for understanding the investment return prospects, as objectives can not be overstated before undertaking the investment decision.

2. Check bank’s credit rating

Bank credit ratings are measures of a bank’s likelihood of default or failure. Credit ratings are assigned to banks, other financial institutions from various agencies. Usually, these scores are expressed as letter ratings, with an AA or AAA rating being superior to a BB or BBB rating, and so on. A bank’s AAA or AA ranking does not ensure that it will not default; it simply indicates that these agencies do not believe a default is possible. Here one thing I’d like to point out that make sure your bank is covered by the DICGC insurance scheme. If the answer is yes, you shouldn’t be concerned with the credit record of your bank. Every depositor in a bank is covered up to a limit of Rs 5 lakh for both principal and interest amounts owed by her or him according to DICGC guidelines. Deposits with all commercial banks and cooperative banks are currently guaranteed under the Deposit Insurance and Credit Guarantee Corporation (DICGC), which is a subsidiary of the Reserve Bank of India.

3. Interest against your deposit

No matter how interest rates change in the future or how the market behaves, the returns on fixed deposits are guaranteed at the time of investment. You get your deposit amount back at the end of the maturity period, plus any interest that has accumulated. Banks deliver different interest rates depending on the depositor’s tenure and type. Interest rates differ from one bank to the next. Senior citizens get interest rates that are 0.5 percent higher than those paid to the general public. Thus, comparing the highest FD interest rates throughout all banks and NBFCs is essential before investing in an FD. You will get guaranteed returns by investing in FDs with banks or NBFCs that have AAA ratings from ICRA and CRISIL.

4. Loan against your deposit

Individuals seek loans from a variety of places while they are in a financial emergency. Availability of loans against fixed deposits (FDs) from banks is another one of those options. Rather than unnecessarily withdrawing their FD, depositors can readily apply for a loan against their FD through the bank. A loan against FD (Fixed Deposit) is a form of secured loan in which individuals guarantee their fixed deposit as collateral in return for a loan. The loan amount is determined by the amount of the FD deposit. This can be somewhere between 90% and 95% of the deposit amount. Since the maximum tenure of the FD scheme is limited to the maximum tenure of the loan, the maximum tenure of the loan can be up to the maximum tenure of the FD account. This type of loan is not available to investors who have a 5-year tax-saving FD. Banks typically impose interest on these loans against Fds that are 0.5 percent to 2% higher than the relevant FD interest rate.

5. Premature withdrawal facility

Fixed deposits that have a premature withdrawal option cause the depositor to close the account before the maturity date. In periods of financial stress, this is a welcome respite. That being said, as a penalty to the bank, the depositor will be allowed to pay a certain amount. This is normally between 0.5 and 1% of the overall. Some banks allow you to make a premature withdrawal with no penalty. The bank or the firm, on the other hand, is not liable to pay any interest if the FD is prematurely closed before the 7-day period has passed from the date of depositing.

6. Choose a bank that has excellent customer service and a simple procedure to open an FD account

We live in a modern era of digital services, so there’s no need to go to the bank to start a fixed deposit account. It’s now as easy to open a fixed account online as it is to open a savings account at a bank. Banks that have an online option for opening a fixed deposit account allow account holders to monitor their funds from anywhere and anytime. It’s better to go with a bank that offers smooth and trouble-free internet and mobile banking services along with excellent customer service. This method requires you to choose the desired products and features, enter your personal details, and then proceed to make your initial contribution to complete the transaction. Currently, all leading banks are allowing investors to open a fixed deposit account online. For instance, if you want to open a fixed deposit account online in SBI, you can check here to know the procedure.

7. Must have knowledge of cumulative and non-cumulative deposit

A cumulative fixed deposit is one on which interest is accumulated until the maturity term ends. For a cumulative FD, you can reinvest the interest you gain on a regular basis, reaping the benefits of compounding and receiving the accrued interest at maturity or the end of the term. The interest earned on a non-cumulative fixed deposit is paid to the depositor on a regular basis. Interest is paid at periods ranging from monthly to quarterly and semi-annually. Since the force of compounding is not fulfilled, it pays less interest than cumulative FD. In the cumulative alternative, FD returns can be augmented. The interest earned is re-invested on a regular basis in this account. As a result, interest on the FD at the end of the term is higher than on a typical non-cumulative fixed deposit, and returns are significantly enhanced.

8. Make investing online your habit

If you invest online, some non-banking finance companies’ fixed deposits give a slightly higher interest rate, starting at 0.10 percent. We may use the Bajaj Finance Fixed Deposit as an example. This FD gives regular customers attractive rates of up to 6.50 percent, with an additional rate benefit of 0.10 percent for investing online. Senior citizens, however, are not eligible for this additional benefit. They will, though, get 0.25 percent higher on their deposits. For senior citizens, Bajaj Finance FD rates go up to 6.75%. Bajaj Finance FD is also rated FAAA/Stable by CRISIL and MAAA/Stable by ICRA which ensures a higher level of safety. However, you should always opt for AAA-rated company fixed deposits. Moreover, if you just look at the credit rating, you should also keep in mind that company FDs are not insured by the DICGC.

Gold Loan Eligibility and EMI

Gold loan eligibility is determined by the loan per gramme of gold or the loan amount, which is determined by the value of gold pledged (based on gold price), purity of gold, and the LTV applied by banks. The price of gold is calculated using the average price of 22 carat gold over the previous 30 days and the loan-to-value provided by your bank. Your Gold Loan EMI is determined by your loan amount eligibility, interest rate provided, and loan tenure.

By subtracting the principal amount from the total amount due, you can calculate the gold loan interest. An EMI calculator can be used to measure the total amount you’ll pay at the end of the term.

Gold Loan- Bullet Repayment Scheme

You must repay the entire principal and interest balance at the end of the loan period if you use the Bullet Repayment form. Yes, you read that correctly. During the loan term, there is no need to pay principal or interest! After your loan is completed, simply pay the entire amount.

Allows you to select a flexible repayment schedule in which you pay interest on the loan as monthly EMIs and the principal payment in one lump sum at the end of the loan term. Some banks often allow you to pay a portion of your principal as part of your monthly payments. Suitable for gold loans with a term of less than six months. You won’t have to worry about repaying the principal every month.

Lowest Gold Loan Interest Rates and EMI from Top Banks

Lowest Gold Loan Interest Rates and EMI from Top Banks

Gold Loan: Things to know

State Bank of India, Bandhan Bank, and Muthoot Finance all have a three-year maximum term. A loan from Kotak Mahindra Bank will last up to four years. Some lenders charge a percentage of the loan amount as a processing fee. For example, Punjab National Bank charges 0.75 percent, or Rs 750, on a Rs 1 lakh loan.

The interest rate charged by the bank is proportional to the loan amount. As a result, if you need a large loan, be prepared to pay a higher interest rate.

The maximum gold loan sum is determined by the quantity and nature of the gold papers. A bank-appointed appraiser inspects the gold articles for consistency and quantity.

The MCLR (Marginal Cost of Fund Based Lending Rate) or RRLLR influences the interest rate offered to applicants (Repo Rate Linked Lending Rate). Banks that issue gold loans against the RRLLR are much quicker in notifying applicants of RBI Repo Rate cuts.

Motilal Oswal has a buy rating on the stock of State Bank of India with a target price of Rs 530 per share. The shares of State Bank of India were last seen trading at Rs 412 on the National Stock Exchange.

The brokerage firm believes that the earnings were set to gain pace and the asset quality was robust.

“State Bank of India 4QFY21 result has been nothing less than spectacular. The bank reported 4QFY21 slippages of just Rs 54.7 billion(a 20 quarter low; surprisingly comparable to other Private Banks), thus taking total slippages for FY21 to Rs 285 billion(1.2% of loans), while restructuring book stands controlled at 0.7% of loans,” the brokerage firm has noted.

Gross non performing assets at the bank GNPAs fell 15% in FY21 (43% decline over the past three years), while the coverage ratio has increased to 71% at present from 40% four years back.

“Its earnings in FY21 have been more than the sum of what it did in the last five years (FY16-20). Overall, the bank is making strong progress on earnings normalization (FY21 RoE of 9.3%). We expect it to deliver FY22E/FY23E RoE of 13.9%/15%. We maintain our BUY rating with a revised target price of Rs 530 per share(1.1x FY23E ABV+INR187/share from subsidiaries). State Bank of India continues to remain among our top Buys in the sector,” the brokerage firm has stated.

Several brokerages have also revised their target price on the stock including CLSA and HSBC.