How often you check bank statements? Many of us never given importance or habit to check bank statements regularly. But nowadays banks never remain bankable. Hence, we must always be suspicious.Those who follow me on Facebook and in BasuNivesh FB Page may be aware of this incident which happened … [Read more...]
All about MCLR lending rates in layman terms
One of the recent euphorias from many of us is about MCLR and its impact on our EMI. Whether I should switch from the existing loan to MCLR based loans? There is a lot of confusion as the concept is new and common people can't understand the terms used. Hence, let us simplify and understand this … [Read more...]
New NEFT Timings Effective from 10th July 2017
Effective from 10th July 2017, RBI will be going to introduce the new NEFT Timings. Let us see the changes. It is I think will be in the right way and hugely impact all of us in many ways. What is the meaning of NEFT or National Electronic Funds Transfer? It is a nationwide payment system … [Read more...]
How to check CKYC or Central KYC status online?
Central KYC or CKYC was replaced the old KYC process. It's centralized process avoids you to submit multiple KYC while opening savings bank accounts, buying life insurance or investing in mutual fund products into one time centralized process. How to check CKYC or Central KYC Status online?As I … [Read more...]
PPF, Sukanya Samriddhi, NSC, KVP Interest Rates April-June 2017
Today Government announced the interest rate for PPF, Sukanya Samriddhi, NSC, KVP Interest Rates April-June 2017. Let us see the changes applicable with effective from 1st April 2017.Earlier the interest rates used to be announced on yearly once. However, now from 2016-17, the rate of interest … [Read more...]
What is Monthly Average Balance or MAB of Savings Account?
There is a huge cry over the recent SBI Bank's move that from 1st April 2017 it will penalizing those savings account holders who not maintain the Monthly Average balance or MAB. But do you know how Monthly Average Balance or MAB is calculated?Let us take an example of SBI Bank's new Monthly … [Read more...]
Reliance Money Manager Fund – Is it an alternative to bank savings account?
Reliance Money Manager Fund nowadays sold by many as an alternative to your savings account, which gives you around 8% returns on your idle cash, access cash within 30 minutes in all 365X24/7 days and also no lock-in period. Whether this fund really a GOD gift to invest as an alternative to our … [Read more...]
How to check CIBIL credit score online for free?
Recently RBI made it mandatory to provide one free annual credit report to individuals. Now based on this, you can check CIBIL credit score online for free. This I think the best move.Even now other credit rating agencies like Equifax or Experian also started to provide this facility. This free … [Read more...]