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Showing posts from August, 2020

SBI We Care Fixed Deposit - For Senior Citizens

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State Bank of India (SBI) has launched a special fixed deposit (FD) scheme for senior citizens in India.  Under this scheme, senior citizens will get an additional 30 basis points interest on their fixed deposits. Due to COVID-19 Pandemic all banks in India have reduced their interest rates on fixed deposits to below 5.5%. Because of this the income of senior citizens who were depending on the earnings coming out of FD's have severely Impacted. To compensate this the State bank of India launched SBI We Care Scheme  for senior citizens. Here's all you need to know about SBI special FD scheme SBI Wecare Deposit for senior citizens: In SBI Senior citizens special FD scheme, residents of 60 years or more are eligible to invest. SBI Wecare Deposit special FD scheme for senior citizens is applicable for tenure of 5 years or more. The new interest rates will be applicable on fresh term deposits as well as existing deposits. SBI special FD scheme for senior citizens is applicable till

Inflation

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Inflation  is an economic term that indicates rising prices of goods and services within a particular economic environment.  As Prices rise, the purchasing power of consumers going to decrease. It is the rise in the general level of prices where a unit/part of currency effectively buys less than it did in prior periods. Often inflation is expressed as a percentage, inflation indicates a decrease in the purchasing power of a nation’s currency. Features Inflation indicates the rate at which the general level of prices of goods and services is rising. Intern the purchasing power of currency/money is falling. Inflation is of three types: Demand-Pull inflation, Cost-Push inflation, and Built-In inflation . Most commonly used inflation indexes are the Consumer Price Index (CPI) and the Wholesale Price Index (WPI). Inflation can be viewed positively or negatively depending on the individual viewpoint and rate of change. Those with tangible assets, like property or stocked commodities, may lik

What Is Mutual Fund?

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A mutual fund is a type of financial tool made up of a pool of money collected from many investors to invest in securities like stocks, bonds, money market instruments, and other assets. Mutual funds are operated by professional managers appointed by Asset Management Company (AMC), who allocate the fund's assets and attempt to produce capital gains or income for the fund's investors. What Does Mutual Fund means Mutual funds pool money from the investing public and use that money to buy other securities, usually stocks and bonds. The value of the mutual fund company depends on the performance of the securities it decides to buy. So, when you buy a unit or share of a mutual fund, you are buying a part of the portfolio's value. Investing in a share of a mutual fund is different from investing in shares of stock. Unlike stock, mutual fund shares do not give its holders any voting rights. A share of a mutual fund represents investments in many different stocks (or other securi