Personal Finance Blog - Mymoneysage

Sukanya Samriddhi Yojana: A Complete Guide

Last updated on April 16, 2020 | by Research Desk | Small Savings

Features of Sukanya Samriddhi Yojana: Sukanya Samriddhi Yojana (SSY) is a small savings scheme for the girl child, launched by Prime Minister Narendra Modi on 22 January 2015, under the government’s “Beti Bachao, Beti Padhao” programme. It has been specially designed to meet the higher education and marriage expenses of a girl. Since its launch, Read more...
7 Smart Ways to Increase Your Credit Score

Last updated on April 16, 2020 | by KishorKumar Balpalli | Financial Planning, Personal Finance

How can improve your Credit Score? The Credit Score given by tge Credit Information Bureau Limited (CIBIL) is one of the most important factors for determining whether or not your loan will be approved. CIBIL scores are generated depending on your credit history that includes past credit taken and the payment pattern. A high score, Read more...
Mudra Loan: All you need to know

Last updated on April 16, 2020 | by Research Desk | Loans

All you need to know about Mudra Loan The NDA government launched the Micro Units Development and Refinance Agency (Mudra) under the Pradhan Mantri Mudra Yojana (PMMY), on 8 April 2015, with a corpus of Rs. 20,000 crore. As the name suggests, the agency has been set up to refinance and develop micro units across Read more...
6 Steps for Financial Planning of Young Adults

Last updated on April 16, 2020 | by KishorKumar Balpalli | Financial Planning, Personal Finance

6 Important Steps for Financial Planning of Young Adults: Personal financial planning, despite its importance, is yet to be taught as a subject in high school or colleges in our country. Hence, most youngsters, when they join their first job or embark on a professional career are fairly clueless about how to manage their money. Read more...
Sovereign Gold Bonds vs Gold ETFs – which one to buy?

Last updated on April 16, 2020 | by Research Desk | Investment Planning

Comparison between Sovereign Gold Bonds and Gold ETFs: The Union government has recently introduced a sovereign gold bond scheme, largely to reduce the country’s dependency on imports and channeling unproductive household gold to productive use. Unlike exchange traded funds (ETFs), these bonds won’t be backed by gold, but a sovereign guarantee. Indian entities like individuals, Read more...
EPF withdrawal rules 2016 & Complaints

Last updated on February 25, 2017 | by Research Desk | Provident Fund, Retirement Planning

Withdrawal rules 2016 for EPF and procedure for EPF Grievance redressal: The Employee Provident Fund (EPF) is managed by the Employee Provident Fund Organisation (EPFO) of India, a statutory body under the labour ministry. It helps salaried employees save a part of their earnings each month, thereby building a tax-exempt corpus which is handed over at Read more...
Term Life Insurance Vs Endowment Insurance

Last updated on April 16, 2020 | by KishorKumar Balpalli | Insurance Planning

Term Life Insurance or Endowment Insurance – which is better? Even before we start comparing Term Life Insurance with Endowment, let me first explain to you how insurance is perceived in our country and in the process, I intend to bust one of the greatest myths of personal finance that is “Insurance is an Investment.” Read more...
Should you invest through SIP or Lumpsum?

Last updated on April 16, 2020 | by KishorKumar Balpalli | Investment Planning, Mutual Fund

SIP or Lumpsum – which is better? A common question that arises in the mind of every investor is – Should I invest through SIP or Lumpsum? A systematic investment plan (SIP) is a hassle free and smart way to invest your money in mutual funds. It works on the principle of continued and regular Read more...
Budget 2016: A Big Picture in Nine Colours

Last updated on December 2, 2016 | by KishorKumar Balpalli | Personal Finance, Tax Planning

A glance at 9 pillars of Budget 2016: Union Finance Minister Arun Jaitley presented a pro-poor Union Budget in Parliament on 29th Feb, 2016, skimping on a bank bailout and announcing new rural aid schemes. He reiterated his forecast that the economy would grow by 7.6% in the 2015-16 fiscal. His government, Jaitley said, wants Read more...
Pre-EMI vs Full EMI – Which is better?

Last updated on April 16, 2020 | by Research Desk | Loans, Personal Finance

Understanding Pre-EMI Vs Full EMI: Whenever you approach a bank for a loan to construct a home or purchase a property under construction, the funds in most cases, will be released in tranches. Disbursement is usually based on the stage of completion of the project. Consequently, until the time you get the possession of the Read more...

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