Personal Finance - Angel One - Page 156

Have you ever wondered how long it takes to quadruple your investment? While the Rule of 72 helps you double your money, the Rule of 144 is its big brother, designed to help you determine the time required to multiply your investment by four. It’s a straightforward financial concept that even those new to investing …

Banks are introducing attractive fixed deposit (FD) schemes for senior and super-senior citizens to help them maximise returns. Leading banks like SBI, HDFC Bank, and IDBI Bank have revised their FD rates to offer higher interest for individuals aged 60 and above, especially those over 80 years old. Top FD Interest Rates for Super Senior …

On Thursday, January 16, 2025, Union Minister Ashwini Vaishnaw announced that Prime Minister Narendra Modi had approved establishing the 8th Central Pay Commission to review the salaries and benefits of central government employees. During a press conference in New Delhi, the union minister emphasised the importance of pay commissions in India’s post-independence history, noting that …

For individuals aiming to build a substantial corpus over the next 15 years, Public Provident Funds (PPF) and Systematic Investment Plans (SIPs) emerge as popular long-term investment options. While PPF is a government-backed savings scheme, SIPs are market-linked investment plans. Both options cater to different risk appetites and financial goals, making it essential to understand …

The Employees’ Provident Fund Organisation (EPFO) is set to roll out a major upgrade called EPFO 3.0, aimed at improving services for its over 7 crore members. Union Minister Mansukh Mandaviya confirmed that this new system will be launched by June and promises to make the entire process more efficient, seamless, and user-friendly. What’s New …

You must have heard about the success stories of India’s most successful and valuable startups, including Razorpay, CRED, Pine Labs, OYO, Acko, Swiggy, Dream11, Mobile Premier League (MPL), Livspace, Cars24, Cardekho, and Mobikwik. These companies have not only reshaped industries, raised billions in funding, but also created substantial employment. As the 3rd largest startup ecosystem …

Planning for retirement is essential to ensure financial stability in your later years. Investing in either a lump sum or monthly SIPs over the long term can yield substantial returns, thanks to the power of compounding. Let’s explore how a one-time investment of ₹5 lakh can grow into a ₹1.5 crore corpus over 30 years. …

Equity alternative investment funds (AIFs) in India have delivered an impressive pooled internal rate of return (IRR) of 21.5% between fiscal years 2013 and 2024, according to a news report released on Tuesday, January 14, 2025. This performance has solidified the importance and resilience of private markets in India’s investment landscape, particularly in the context …

The Union Ministry of New and Renewable Energy (MNRE) has announced the implementation guidelines for the ‘Payment Security Mechanism’ (PSM) and ‘Central Financial Assistance’ (CFA) components under the PM-Surya Ghar: Muft Bijli Yojana. The scheme aims to boost the adoption of rooftop solar plants across India by offering innovative models for residential consumers. Two Models …

With the government encouraging the new tax regime by offering lower tax rates but removing popular exemptions like Section 80C, many taxpayers are rethinking their investment plans. Interestingly, 72% of taxpayers have already shifted to the new system, signalling a move away from traditional tax-saving strategies. However, some investments previously tied to Section 80C still …