September 30, 2022

Steve Campbell

What Are The Benefits Of A Slick Cash Loan?

Jun 16, 2022

Whenever you are willing to take a slick cash loan, there are several points that you should have to keep in mind. Whenever you are searching for the best slick cash loans, it would be very beneficial for you the help you will be able to know about slick cash loan. You will be able to get benefits from the end-of-the-cash loans, which are the cash loans where you will not be able to get the unique gifts from the end of the cash loan.

●    You Will Be Able To Get Fast Money.

If you are willing to get fast money, it would be for you to take help from the slick cash loan where you can get payday loan no credit check facility. As a result, you should be able to withdraw the first money, which will be one of the most effective benefits you can access from the end of the cash loan. This is going to be one of the most influential factors by the help of which you will be able to understand the value of the first money, and you will be able to learn more about the cash withdrawal. Once you are looking for payday loans no credit check – instant approval – slick cash loan, reading this will be helpful for you.

●    You Will Get Money For Any Expense.

When searching for the money you can spend on any payment, it would be best for you to use this loan option. You will be able to pay money for any cost, and you will be able to get a good return whenever you take help from the instant cash loan. This will be a cash loan option with the use of which you can get maximum benefits in any situation. So whenever you are searching for the expenses, it would be best to go for the credit approval.

●    It Will Be Qualified Easily.

Whenever you take help from a cash loan, you always have to make sure that you are taking help from the instant cash loan by the use of which you will be able to get maximum returns in your pocket. You will be able to get money instantly in your balance, so you don’t have to think twice about the shortage of money, and you will be able to get money faster. This is denoted as one of the most influential factors you will be able to use so that you will be able to understand if the credit check you are going to use is becoming one of the most helpful options for you. So, if you are willing to get better results, you can get the benefits.

Here are the benefits that you will be able to access from the cash loans. You will be able to get returns from the instant approval, and you will be able to get the benefits from the end of the instant approval. So, when you are willing to get instant approval, this is the thing that you can check.

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Get No Credit Check Loans Easily With The Help Of Slick Cash Loan

Jun 5, 2022

We all come across several situations where we tend to run out of money. But you can’t arrange for that extra money then and there. And this is when Sling Cash Loan comes in handy.

In Sling Cash Money, you can apply for a no-credit-check loan online, and the best part is you can get the money on the same day as your application without any delay. Regardless of your past financial history, you can apply for a loan.

When you go for a No credit check loan, the application is easy to follow, like no credit check loans – online approval – slick cash loan.

Types Of No Credit Check Loans Available Online

There are various types of loans that fall under this category of loans. Depending upon the needs of the person, it can vary. The two most popular versions of no credit check loans available in Sling Cash Loan are follows.

Payday Loans

A payday loan is an instant loan that allows you to take out the money when you need it and pay it back within the time frame you have set. Essentially, it’s like an individual loan you can get dependent on your earnings.

Typically, the lender recovers the principal amount plus interest from your wages or salary. Payday loans will often be paid in two weeks and is a simple process with no checks and astronomical interest rates.

Personal Instalment Loans

Personal long-term loans are more favorable conditions and have longer repayment times than payday loans. The loan amount can be repayable over several months, which reduces the monthly installment.

Compared to payday loans, the customer experience is much better when it comes to individual installment loans. It is not necessary to pay everything off in one go, and making smaller amounts at a set period is manageable.

Benefits Of Using Sling Cash Loans

Advantages of Having a No Credit Check Loans choose the mode of repayment depending upon your convenience.

·       Childcare

Maintaining a family is a costly affair; hence you are always running out of cash, making it even more difficult for a bread earner to meet the ends. Hence you can apply for a childcare loan to ensure your child gets a safe and secure future.

·       Medical Expenditure

If you have never met with an accident, then well and good. Still, if you are out of luck, things might not go as per your plan, and you meet a medical emergency and a crisis, and you don’t have medical insurance to support. You can opt for a medical loan; you can always apply for one if you don’t have one.

·       Business Expenses

Setting up a business can be challenging; hence you need some extra money to support your business at the initial level.

·       Clearing Your Existing Loans

If you are laboring to keep up with the installment payments of your past loans, you can apply for a short-term no-credit-check loan to clear off your debts, and then you will be left with only one lone to focus on.

Basic Requirements For No Credit Check Loans.

  1. The person applying for the loan must be 18 years above.
  2. They must have a permanent US address.
  3. Should be able to provide a valid mobile number.
  4. Should be employed in a company with a fixed monthly income.
  5. They should own a bank account for direct deposit of the loan money.
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Advantages Of Owning A Home Over Renting

Jun 1, 2022

Buying a home is a significant and valuable investment, but to some people, it’s worth it to have the emotional and special connection of owning a home without the need to pay rent. It also brings a sense of comfort and stability that renting wouldn’t bring. Owning a home also comes with several benefits that a renting person wouldn’t enjoy. Such benefits include the financial advantages of home sales when relocating to other places and the chance to live a mortgage-free life. Buying or renting a home requires a thoughtful decision as you consider the various factors to make the right decision.

The advantages of owning a home instead of renting provide the buyers with the ability to grow equity, several tax advantages and a place to call home. It also gives the house buyer a sense of accomplishment and pride to own a valuable investment. The current mortgage market conditions and real estate elements have created the perfect opportunity to transit from being a renter to a homeowner. This article will discuss the pros of owning a home instead of renting. Also, it will help individuals make informed decisions when torn between buying or renting homes.

Rents Will Always Increase Over Time

The renting costs always grow over time with the changes in the market and economic trends globally. Therefore, it is always expected to go up and the same tendency to continue. That means the higher cost of paying rent might be even higher than paying monthly mortgage rates. Therefore it’s sensible to pay the fixed mortgage rates with the hope of owning your own home rather than pay for the increased rental prices each month without owning an investment. It would, however, help to talk to an experienced professional before signing up for mortgage payments. The professionals will help you make the right decision between rent vs own decision.

Having A Home Is a Long-Term Investment

Renting a home or an apartment means paying the owner or the landlord the fixed rental price with nothing to show the next month. However, buying a home will be a long-term investment because it serves as an effective method of saving. For instance, if you pay the mortgage for a home for 30 years, you will own the house after the end of the payment, while paying rent for 30 years will have nothing to show for the money paid as rent. You will also not get any of your monthly rent back even after all these years of rent. That makes owning a home more beneficial than renting.

The Mortgage Interest Rates Are Lower

The argument about owning or renting improves with the low-interest rates available nationally. What makes a slight difference between the rent and the mortgage may make a massive difference in making an individual a homeowner. The interest mortgage rates are competitively low, so it would be wise to consider taking advantage of the competitive rates to purchase the home of your dreams. When comparing the pros of owning vs. renting homes, you will discover that many current rental rates are higher than mortgage rates hence the need to own than rent.

Down Payments Are Low

Although it sounds terrific, to be accurate, a down payment can amount to up to zero dollars when paying for mortgages. There are government assistance programs and loan programs that can allow home buyers into the home with close to zero dollar down payment. Programs given by the lenders to the borrowers vary with the terms and conditions of the lender in question. Also, each lender has a set of requirements the home buyers are supposed to meet before becoming homeowners. So, it has become easier to own a home in the current world with favorable mortgage rates and down payment.

Individuals Can Gain Equity as the Property Increases In Value

Home values are likely to rise in the future, making it a long-term investment to own a home. That means that the amount an individual is willing to spend on buying a home will likely increase over time and deliver significant returns in the long run. Also, anytime the individual makes a mortgage loan payment monthly, the more equity the individual gets.


It’s essential to consult a professional before settling on buying homes and renting. With all the above benefits of owning a home over renting, every individual owes it to themselves whether renting vs. owning is the right choice for them.

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Reasons Responsible in Pulling Down Your Home Loan Eligibility

May 24, 2022

Most individuals who are looking to buy houses need to rely on home loans to arrange for the finances. However, many are worried about their home loan applications not getting accepted by lenders. While it is true that lenders have rejected certain loan applications, this can be avoided by being aware of the lender’s housing loan eligibility criteria. There are various factors that a financial institution takes into account while evaluating an application for a home loan.

To improve the chances of getting a home loan approval, it is important to be aware of these factors that can end up affecting an applicant’s home loan eligibility. Read on.

  • Credit history

An applicant’s credit record is a very important aspect that lenders focus on while evaluating their application for a home loan. A bad credit record could seriously hamper their chances of getting a home loan. Home loans usually involve high amounts, and any applicant that has a bad record of clearing their debt is most likely going to be rejected by lenders. It is ideal to maintain a credit score of 750 or more at all times.

  • Monthly income

An applicant’s monthly income will also play a part in affecting their home loan eligibility. This is because earning a good income is vital for the applicant’s repayment capacity. If the monthly income is low or does not match a lender’s minimum criteria, their application is most likely to get rejected. While applying for a loan, it is advisable to declare all sources of income to boost the eligibility for a home loan.

  • Age

If an applicant has taken a long-term home loan and they are close to the age of retirement, most lenders are likely to reject their application. This is because the applicant would stop earning an active income after retirement, and this might cause a problem in repaying the home loan’s monthly instalments. This is why it is advisable to apply for a home loan as soon as possible so that the loan can be cleared off while an active income is still being earned.

  • Loan repayment tenure

A lot of borrowers are unaware of the fact that even a home loan’s repayment tenure can affect an applicant’s eligibility. By choosing a short repayment tenure, an applicant will have to pay higher EMIs. However, this becomes a risk for the lender. Choosing a long tenure would mean paying lower EMIs, which the applicant is more likely to clear off on time. So, a borrower can increase their chances of a home loan approval by opting for a long repayment tenure.

Keeping these factors in mind can help a borrower avoid getting their home loan application rejected by a lender. Also, using a home loan eligibility calculator is advisable before they go ahead and apply for home loan since it can help in understanding the loan amount that they can be eligible for.

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Are ELSS profitable during market downturns?

Apr 25, 2022

The stock market faces a slew of risks, including the Russian invasion, rising oil costs and inflation, an impending rate hike, tighter liquidity, and sluggish economic development. It’s a long list. Many mutual fund investors are worried, particularly first-time and new investors. Some want to know if they can put their equity mutual fund investments on hold this year, particularly tax advantaged or ELSS funds.

As you might expect, the issue isn’t about ELSS funds; instead, investors ask for a strategy for their stock investments. When things appear to be in turmoil, many investors try to avoid taking any chances. They wish to reduce or eliminate their equity mutual fund investments. They want to make a risk-reduction investment allocation modification.


ELSS mutual funds offer a way to make decent returns while avoiding taxes. At least 80% of the assets of these funds are invested in equities. As a result, the potential returns are directly related to the stock market’s success. If you want to invest for a long-term goal like building a retirement fund or purchasing a new home, this could be a good alternative.

Here are the best strategies to make profits in a bearish market with ELSS:

Tax Savings: ELSS funds have been the only type of mutual fund that can claim a tax deduction of up to Rs 1.5 lakh per year if you invest in the plan. These funds are eligible for tax deductions under Section 80C of the Internal Revenue Code.

Even after the new tax system, which makes long-term capital gains from ELSS over Rs 1 lakh taxable, these funds remain one of the finest tax-saving investments. Compared to alternative investment options such as Unit Linked Insurance Plans (ULIPs) or Public Provident Funds, these provide better post-tax returns (PPF).

Short lock-in period: ELSS funds are locked in for three years, unlike other assets such as the Public Provident Fund, Employees Provident Fund, and National Savings Certificate, which have a five-year minimum lock-in duration.

Long-term return: Funds can grow if they are not redeemed after the three-year lock-in period has passed. Because these funds invest in equities, they can build significant wealth over time.

Higher Returns: Because these funds invest in equities, they benefit from the market’s increased returns. ELSS funds can provide you with twice as high returns as a traditional savings account. According to statistics, ELSS offers roughly 12% returns over ten years. Compared to PPF, which generates approximately 8%, this is a considerable boost.

Lower tax on profits: An ELSS fund is invested for at least three years. As a result, any profits from the sales of ELSS funds are long-term in nature.

Gains beyond Rs 1,00,000 are currently taxable at 10% under the current law. On the other hand, short-term capital gains are taxed at a rate of 15%. As a result, ELSS funds automatically result in decreased tax bills.

Benefit of compounding: Investing in equities funds with a long time horizon, such as 5-10 years, is usually recommended. By default, ELSS funds provide a disciplined long-term investment due to the lock-in period. This technique allows investors to benefit from the long-term power of compounding.

SIP Option: Investors who want to invest in ELSS might do so through a systematic investment plan (SIP). It enables the investor to invest a predetermined amount at predetermined periods. This permits the salaried class to regularly invest a set amount of money from their savings, usually once a month.

Final Thoughts

The asset allocation of ELSS mutual funds is mostly made up of equities and equity-linked instruments such as listed shares (65 percent of the portfolio). They might also be exposed to fixed-income securities.

While the three-year lock-in time is required, an investor has the option to continue investing after the lock-in period has expired, unlike with other tax-saving products, where your money matures or stops collecting interest once the lock-in period has expired. An investor can stay in the fund for as long as they wish, and the longer they stay, the smaller their investment risk is, while their chances of earning a greater return increase.

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Looking To Avail a Home Loan Balance Transfer to Deal with Higher Home Loan Rates? Here are Some Pointers

Apr 21, 2022

Now your dream of owning a home can be achieved easily by opting for a home loan. For a home loan, you just need to fund up to 10-25 percent of the home value while the remaining cost is funded by the lender. Additionally, to provide repayment flexibility, most lenders offer the loan amount for an extended period of usually up to 20 years. Availability of long tenures allows you to make repayments in the form of easy affordable EMIs.

This said, during the extended time period, you may come across various home loan offers from other lenders that can be highly cost effective. In such a case, you can avail a unique option called a home loan balance transfer.

What is a home loan balance transfer?

A home loan balance transfer is the act of transferring your home loan from your current lender to another lender for better terms and conditions, lower interest rates or extension/reduction in repayment tenures. Availing a lower interest rate through the balance transfer option allows you to lower your EMI, which results in reduction in your overall loan cost. Technically, when you opt for the transfer option, your new lender pays off your outstanding home loan balance to your existing home loan lender. After this, your existing loan account is closed and simultaneously your new account opens, where a lower interest rate is charged.

Pointers to consider before availing a home loan balance transfer –

  • Calculate your savings in interest cost

The major goal of a home loan balance transfer is to lower the interest cost of your existing home loan, particularly if you secured the loan at an extremely higher rate, without impacting your existing investments and liquidity. However, as the balance transfer facility is looked upon as a fresh home loan application, your new lender levies processing charge, administrative fee, and other fees during the balance transfer application processing. Hence, you must compute your overall savings in the interest cost after factoring in such charges. You must avail the transfer facility only if your total savings in interest is considerably higher after factoring in the expenses involved in availing it. For calculation of your total savings in interest cost, use the home loan transfer calculator. Note that the home loan balance transfer calculator usually asks for your requested loan amount, requested repayment tenure, income, monthly obligation, loan principal outstanding and other details to compute your total savings and your EMI.

  • Renegotiate the interest rate with your existing home loan lender

As a home loan transfer option is looked upon as a fresh loan, you will again have to undergo the loan evaluation, documentation, property evaluation and various other evaluation processes linked with fresh application. All of it can take up substantial effort and time. Thus, you must try and renegotiate the offered interest rate with your existing home loan lender before making the transfer. Go for the transfer option only if your existing home loan lender disagrees to match the rates offered by your new lender.

Ending note

The prevailing low interest rate regime has allowed many lenders to provide lower home loan rates beginning from 6.55 % p.a. With such low interest rates on offer, you may contemplate to avail the balance transfer facility to transfer your existing loan to another lender to get a lower rate and better conditions. However, before you make the move, ensure to use a home loan finance calculator to understand if the transfer is worth it. The home loan takeover calculator accurately computes your savings in interest cost. If your savings in interest cost is substantial, opt for the balance transfer option.

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Why You Need Business Insurance for Florists and What to Consider

Apr 12, 2022

Business owners need a variety of insurance coverage, and for good reason. Depending on the scope of your business and the risks you face, you may need business insurance to protect your assets, your employees, and your business’s operations. Florists need the same types of business insurance as other small-business owners, including health insurance, workers’ compensation, and liability insurance. Here are some good reasons why you should get Business Insurance for Florists and what to consider when looking for a policy.

Importance of Business Insurance in a Flower Shop

For all small business owners, business insurance is an essential part of a sound financial plan. It provides peace of mind by protecting your assets, employees, and operations from risks that could cause significant financial losses.

Business owners have many types of business insurance coverage to choose from, including health insurance, workers’ compensation, and liability insurance. Florists also need these types of coverage as well as business insurance for their shop in order to be fully protected with their current business operations and the possibility they take on more staff or invest their time and money into the growth of their flower shop.

The importance of having this type of coverage cannot be overlooked. Businesses that have not invested in adequate coverage have found themselves at risk through inadequate protection due to unforeseen events such as lost income when a key staff member becomes ill or injured, destruction caused by acts of nature, theft or vandalism that impacts cash flow or inventory costs associated with stock replacement. And it doesn’t stop there; you may even find yourself personally liable for damages caused by negligence on your part if you don’t have proper coverage for your employees.

For the florist’s flower shop it is vital that they are properly covered financially from any event that may result in a loss of income such as theft or any other act of vandalism that causes damage to the inventory which would result in lost income

What to Look For in a Florist Business Insurance Policy

Different types of businesses require different types of business insurance. And since the type of risks your florist business faces may be different, you should look for a policy that has the necessary coverage to protect your business and its assets, your employees, and your operations.

Here are some important aspects to consider in business insurance for florists:

  • Personal property
  • Business property such as machinery or equipment
  • General liability
  • Product liability
  • Workers’ compensation
  • Health insurance for employees

The bottom line is it’s worth getting business insurance, and you should start looking into it now. It’s a pretty intimidating process because there are a lot of different names for different types of insurance that may be needed. It can be daunting trying to figure out what your needs are and which type of business insurance will suit your needs the best. But if you want to protect your employees and your assets, then it’s worth exploring all the options to find the best fit for your business.

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Why do you need Term Insurance if you are Self Employed?

Feb 25, 2022

As a breadwinner of a family, it is your responsibility to take care of the finances of your loved ones. In your presence, your earnings will meet the monetary needs of your family. However, it is important to have a financial safety net that keeps your family secured in your absence.

As a self-employed individual, your earnings depend on your business. No matter how big your turnover is, it is important to have a financial backup that will help your family in your absence. A term plan is a great option to go about it. What is a term plan? Term insurance is a life insurance policy that provides coverage for a defined period. In case of your demise during the time frame of your policy, the insurance company provides a pay-out to your nominee.

Here are some reasons why term insurance is the perfect fit for a self-employed individual –


One of the biggest reasons several individuals choose term insurance plans is their affordability. Term insurance provides life cover of a huge sum at affordable premiums. As a self-employed individual, there is no fixed source of income. A low amount of premium ensures that, in the ups and downs of your business, you can easily pay the premiums for your policy. Look for term plan premium calculators that help you estimate the premiums that you will have to pay for different covers.

Lack of insurance from an employer

When you are working a 9 to 5 job, the company usually provides benefits like employee provident fund, life insurance, and medical cover. Being a self-employed individual, you will have to provide these benefits to yourself. Investing money for your future and safeguarding your family’s financial needs in your absence is your responsibility. When you are fulfilling your financial goals, a term policy can help provide the much-needed life cover.

Huge coverage compared to traditional insurance

Compared to other types of life insurances, a term insurance policy provides a higher sum assured. Term insurance will ensure that you leave enough funds with your family and dependents in your absence. It will ensure that they do not face any financial hardships and have enough money for any expenses in the future. A sufficient cover will also ensure that your debts do not burden your family in your absence.

Tax benefits

The primary benefit of purchasing a term policy is to secure the future of your family in your absence. One additional perk is that it helps in saving taxes too. A term insurance policy provides tax relief under section 80C of the Income Tax Act. The term insurance premium that you pay is deducted from your taxable income.

Coverage against critical illness and disabilities

Apart from life cover, there are riders available which you can club to your existing term insurance. These riders offer benefits like critical illness cover, disability covers, and waiver. As these conditions are unpredictable and devastating to you and your family, it would be a relief to receive a sum from the insurance company on the basis of the riders selected.

How to buy term insurance?

The reasons mentioned above make term insurance policies quite popular, especially amongst self-employed individuals. You can purchase term insurance online as well as offline. There are official websites of insurance companies where you can buy a term plan quickly in a few easy steps. There are also insurance aggregators available online where you can compare the insurance policies of different companies to choose the best one. The online term plan premium calculators allow you to know the amount of your premium. If applying online feels difficult, you can buy the policy plan offline. You can simply visit the nearest branch of an insurance company and present the documents needed to buy your policy. Brokers and agents can also get the work done for you.

As a self-employed individual, choose an insurance company that is well-reputed and has goodwill. This will ensure that in your absence, your loved ones receive the sum assured with no hassle. A good term plan ensures that you and your dependents live a peaceful life.

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A guide on how to open a current account for your business

Feb 22, 2022

A current account is a banking account meant for businesses as opposed to a savings account, which is mostly used by individuals for their banking needs. A current account offers businesses lucrative deals and helps them to facilitate their financial transactions with great ease. It is ideal for higher number of transactions and can also be customized as per your specific requirements. There are varied benefits and value-based services associated with a current account. What’s more is that you can also avail various schemes based on your bank for your current account, wherein you can choose superior offerings by the banks instead of a normal current account.

The best part of opening a current account in recent times is the fact that you do not have to visit the bank at all! You can simply get it done through your mobile phone or a computer. Are you interested in opening a current account for your business but do not know where to start from? Do not worry and follow this step-by-step guide below to know how to open current account online.

Know your eligibility: The first step to opening a current account is to know your eligibility. If you are worried about your eligibility, then here’s good news for you. Most banks have very minimal eligibility criteria to open this account. You can check these criteria by visiting your nearest branch or simply on the online site of your bank that you are interested in opening an account in.

Keep your documents ready: Refer to the list of the documents that are necessary by your bank to open a current account with them. This list may differ slightly in case of KYC compliance (if you are already a customer with this bank and are compliant with the KYC norms, then this list of documents may differ). This is a crucial step and it will save your time if you confirm this list, collect all documents and only then proceed.

A few documents that you may require are:

  • Pan card of the proprietor/company
  • Proof of the business
  • Certificate of Incorporation, MOA, etc.
  • License proof, etc.
  • Address proof

This is not an exhaustive list. Please refer the list provided by your respective bank. The documents may also vary based on the type of company or business that you have.

Fill up the account opening form: You can now proceed and fill up this form. It will be available online. If you are opening offline, then you can obtain this from your bank. It is imperative that you fill all the necessary details correctly.  Once you fill all the details, you will have to attach the required documents wherever applicable. Lastly, submit the form.

Confirmation: Once you submit the account opening form, then you can wait for your bank to reach out to you once your account has been opened.

The above method is helpful for opening any basic current account. You can open one in quicky, simple steps and enjoy a host of services offered to your business. Your bank may further also have specialized options and variants for your current account which you may choose based on your needs, i.e., type of current account. Based on this current account type, your monthly average balance, cash deposit and withdrawal limits may vary.

Now that you know all about opening a current account for your business, what are you waiting for? Open one while sitting at home and start reaping the benefits of the many online banking facilities for your current account.

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Top 5 Government Backed Schemes To Back Your Finances

Feb 15, 2022


We plan for expenses and investments based on our current income profiles. However, emergency expenses are unplanned, and it triggers a personal loan.

Personal loan interest rates differ as per the credit profile of individuals, and so does the personal loan eligibility criterion.

However, a few government schemes may help you with urgent needs. To enable individuals to take care of their personal needs and to inculcate the habit of savings, many schemes are introduced by the Government.

Most of the schemes are long term and allow people to enjoy the taxation benefits (in the old scheme of income tax) under Chapter VI-A of the Income Tax Act, 1961.

  • Public Provident Fund (PPF):

The old-age famous investment scheme is still one of the best government schemes offered by the Government of India. Due to the long term nature of the investment, it is also considered a retirement scheme. Interest rate is a factor for risk-free nominal return, credit risk and liquidity risk. In PPF, there is no credit risk & liquidity risk.

The good part of the PPF investment scheme is that the amount invested, the interest income earned, and the amount withdrawn will never get taxed. The current interest rate is 7.1% per annum – investments up to Rs. 1,50,000 are available as deduction under section 80C of the Income Tax Act, 1961. The holding period is 15 years.

However, premature withdrawals are allowed after five years. The amount is locked in for the said period, and this is where the compounding of return comes into play. However, the interest rate is revised every quarter. The minimum deposit amount starts with Rs. 500 and one can invest up to Rs. 1.5 lakhs.

  • National Savings Certificate (NSC):

NSC is introduced with the intent to teach savings amongst individuals. The intention is not to build a retirement corpus. The minimum investment amount starts with Rs. 100 with no limit on the amount of savings, and it reflects the savings intent of the Government.

However, the maximum deduction to be claimed for taxation benefits is limited up to Rs. 1.5 lakhs. The present rate of interest is 6.8% per annum with annual compounding. The interest is accrued annually, but it can be withdrawn at the time of maturity. The frequency of change in the rate of interest is annual. Kindly note that NSC is made only for residents in India.

  • National Pension Scheme (NPS):

With the scheme’s name, the Government intends the public to plan for your retirement right when you are earning enough – gone are those days when people used to plan their retirement after their 40s. With the increase in per-capita income and increase in earning avenues, individuals are planning their retirement immediately after having a secured source of earnings in their 30s.

This scheme is applicable for the citizens of India, with mandatory applicability to government employees. Thus, you can observe a deduction from the monthly salary income of government employees. The age limit for investment is from 18 to 60 years.

The best thing about NPS is that it provides flexibility to allocate funds in bonds, equity and government securities. However, the amount invested up to Rs. 150,000 is available as deduction under section 80C and a further Rs. 50,000 is available as deduction under section 80 CCD(1B).

  • Sukanya Samriddhi Yojana (SSY):

With the Beti Bachao, Beti Padhao Yojana of the Government of India led by Prime Minister Mr Narendra Modi, the Government also ensured that the future of the daughters of India is secured. This scheme was launched in 2015 to teach goal-based savings.

The focus of the scheme is the welfare of the minor girl child. The account has to be opened mandatorily in the name of the girl child. The entry age into this scheme is from her birth until 10 years. The maturity period is 21 years, with an interest rate of 7.6% per annum. 

  • The Senior Citizens Saving Scheme:

When it comes to regular income with high safety, the senior citizen savings scheme ranks first in the queue. It is applicable for individuals above the age of 60 years. The interest rate is 7.4% per annum, a little higher than the fixed deposit interest rates. The maturity period is five years with an extendible period of 3 years. The minimum deposit amount is Rs. 1000.

Further investments can be made in multiples of Rs. 1000 but not exceeding Rs. 15 lacs. It can be operated through a Joint account as well. You may choose to close the account after one year. However, premature charges of 1.5% are levied. You may choose to close the account after two years, with early charges levied at 1%.


It’s never too late to start with your investment journey with the best in class government-backed schemes.

So the best time to start investing is today.

However, when it comes to emergency needs, personal loan are the easiest and quickest source of money. You can check your monthly outgo with a personal loan EMI calculator.

For more information, please visit our website.

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