Is Your Sister Retiring? Gift Her Financial Security!

Your sister needs your support and protection more than ever when she reaches the age of retirement, even if she is a homemaker. Yes, even homemakers retire as their sources of income dry up. They may lose a spouse who was the primary earner, or the money meant for old age was lost to a bad investment and in helping their children’s careers. Maybe the money saved by your sister is not enough to beat the inflation.

The reasons could be many, but a good retirement plan would surely bring a smile to her lips and a tear in her eye.

Here the benefits your sister will enjoy:

  • The gift of living independently with a regular income till the age of 100 can never be taken lightly.
  • She will be at peace knowing in case something happens to her, her family will get a guaranteed death benefit
  • She can enjoy other benefits such as vested benefits

Here, are the financial benefits for you:

  • Get discounts as female policyholders can get premium rebates.
  • The policy does not have to be a burden on your finances as you can opt for flexible premium payment and even change premium payment terms in the future.
  • Avail tax benefits

However, Bajaj Finsev FD will strengthen the emotional bond between you and your sister, that you will enjoy the most. She will forever hold you in high-esteem and you will become each other’s rock as you enjoy the sunset years of your life without any worries!  

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Fixed Deposit Calculator: How to Find Out the Maturity Amount  

Planning to invest in a fixed deposit but not very sure about how your returns would be like? Knowing the maturity amount comes in handy while planning your financial goals. You know exactly how much you have, and how much more you would need to meet the financial goal. In short, you’ll be able to plan better and ensure sufficient funds when needed.

On that note, you can use the fixed deposit calculator and calculate your fixed deposit maturity amount quickly. The FD calculator is readily available and very easy to use. You can find out the exact maturity amount in a matter of seconds. All you need to do is fill the numbers correctly.

Here’s how you can use the FD calculator.

Step 1: Fill in the basic details

As said above, you have to share the numbers: the principal investment amount, the interest rate, and the investment tenor correctly to get precise results. Also, make sure you know the compounding frequency: the number of times interest is compounded in a given year; followed by the financial institution you are investing with. Some banks do it after every quarter, some do it three times a year, while some even do it on a yearly basis – just once a year.  

Step 2: Cross-check the details

You can straightaway hit the ‘calculate’ button after you are done with filling out the numbers. However, the aim is to obtain the precise result. Hence, cross-check the details, especially the compounding frequency and the interest rate before you hit the calculate button.       

To know more, Read: Documents Required for Fixed Deposit Investments

How to Invest to Buy a House

All dream to have his/her own house. But, purchasing a house is itself a huge decision. You cannot decide or plan today to buy a house tomorrow. It will invest your time, money and energy. You should have a proper investment strategy to purchase a house in three to five years.

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  • Start early to secure your future better.
  • Start talking to professionals and take suggestions
  • Chalk out proper ways of planning to make your dream come true

Once, you are on the right track, you can easily get a loan with a longer tenor and reduced EMI.

When you plan to purchase a home, you need to do some down payment. This is usually a large chunk of amount that need to be paid in one shot from your pocket. For this down payment you need to save. You can save in your Savings Account. But, it will be better if you invest the money in proper channel such as in mutual funds or fixed deposit. Once, you invest the money for a certain time period, you will get back your principal amount along with some added interest.

3 Top and Safest Investment Alternatives for You

There are moments in life wherein a person desperately requires a large sum of money because something or the other crucial to the person is at stake. For instance, it can be a medical emergency, it can also be the higher education of the person’s child etc. Needless to say, these financial needs are inescapable. Apart from that, there are stages in life when you lack a permanent source of life and you have to depend on your offsprings or on your income from investments for survival. Accordingly, no matter what the circumstances are, financial emergencies of any sort can be avoided with a fitting investment strategy.  

Fixed deposit: Fixed deposit is an all-time and all-favourite investment solution. Anyone, irrespective of their caste and creed, their income, age and budget can invest in an FD scheme and avail the benefits. An FD can be started with as low as Rs 1000 for a tenor as low as 7 days. However, in order for the investment to work well, the same needs to be planned in an orderly fashion. For example, as per the current rates, an FD investment doubles itself in approximately 10 years.

Senior Citizen FD: It is a great alternative for retired people planning their retirement, especially because the TDS exemption limit has been raised to Rs 50, 000 per year for senior citizens. In other words, it means you can regulate your investment in senior citizen FD in a way that it doesn’t earn more than Rs 50, 000 per year.

Post-office Scheme: Post office term deposit is very similar to FD in all aspects. However, the interest rate is higher. Plus, you have to invest a small amount at the end of every year until 15 years to be able to avail the benefits. In addition to that, the same comes with a lock-in period of 15 years. Yet, you can take a loan against your bond after the third year and partially withdraw after the 7th year. This is best for people in their fifties planning their retirement.