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February 1, 2023

What is Experian Credit Score and How is Is Different from CIBIL Score?

Dec 23, 2022

Loan apps and credit cards have made financing easier than ever. Today, you can easily avail instant cash through a loan app or make new purchases using a credit card. But to conduct these borrowing and lending in a safe environment, lenders rely on the credit bureaus to give a detailed insight on your credit behaviour. These credit bureaus maintain a detailed record of your borrowing history, a record of your repayment behaviour, missed instalments, closure of old loans, details of your credit card usage and more. Based on all these details, the credit bureaus assign you a credit score ranging from 300 to 900. This score plays a very important role when you apply for unsecured loans like an instant loan.

There are four major credit bureaus in India – CIBIL, Equifax, Experian, and CRIF High Mark. The score assigned by Experian is called as Experian Credit score and the score assigned by the CIBIL is called a CIBIL score.

About Experian and CIBIL

A popular CIC in India, Experian is a Securities and Exchange Board of India approved credit bureau. It is the first company to receive its CIC license under the Credit Information Companies Regulation Act (CICRA) 2005. The CIC assigns credit score to both individuals as well as organisations based on their credit history records that it collects from across institutions.

Now, while Experian received its first CIC status under the mentioned Act of 2005, CIBIL is the first credit bureau in India. It is one of the most widely used credit bureaus for the purpose of accessing credit score of individuals as well as businesses. With credit records collected and maintained for over a 1,000 million customers, including businesses and individuals, TarnsUnion CIBIL is also the most recognised one in India.

The Experian and CIBIL Credit Score – A Common Ground

Before moving into the differences between the two bureaus, you must know the common points. The most important aspect is that the credit score issued by both the CICs span between the same range of 300 and 900. Also, the suitable credit score range for borrowing remains between 700 and 900 for both.

When availing a loan through a loan app a minimum score is not mandatory, but a high score from either bureau works in your favour. For borrower understanding, it is crucial to know that most popular loan apps rely on CIBIL for this score, especially for individual borrowings, as it is the widely accepted bureau.

Know How Experian Credit Score Differs from a CIBIL Score

  1. Object of credit score issue

The CIBIL score is issued with the objective of determining the repayment capacity of the borrower. Alternatively, Experian issues the score for financial position determination of the entity. This objective also impacts their overall acceptability in the Indian context of lending and borrowing. For instance, you may thus find lending platforms like loan apps that rely on CIBIL score for determining your repayment capacity.

  1. Calculating parameters

Even though the score ranges issued by the two bureaus are the same, the parameters they use for score calculation differ. Experian relies on the likes of loan record, current credit information transactions, account balances, etc., to determine the score. For CIBIL, these parameters vary across debt to income ration, credit utilisation ratio, credit mix availed, repayment history, and past repayment defaults to compute the score.

  1. Acceptability

Given that CIBIL has its origin in India even though backed by the American company TransUnion, it is widely accepted as a CIC here. It was also the first CIC of India and has most financial institutions as its members. Contrarily, the exposure of Experian at this scale is missing, thus restricting its acceptability.

  1. RBI approval

Credit score from CIBIL has also received the RBI approval for the purpose of assessing borrowing profiles. The Experian score has not received any such approval.

Conclusion

CIBIL score as well as Experian score are both credit scores assigned by these credit bureaus that help lenders assess the risk associated with your loan application. Though most of the parameters that both bureaus rely on to calculate the credit score are same, there are a few striking differences.

CIBIL uses the Empirical method to calculate your credit score, while Experian uses the FIFO technique to calculate the credit score. National institutes rely on the CIBIL score to take lending decisions, while, many global financial institutes rely on the Experian score.

Despite the differences, both CIBIL score and Experian score have distinct roles to offer for lenders as well as borrowers. Many lenders consider both the scores, or take an average of both the scores to analyse the risk associated with your credit profile.

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What is a broadcaster bouquet?

Dec 1, 2022

Gone are the days when television viewing was only limited to a select few channels. Today, you’ve got a huge array of channel packs to choose from. For example, the sports pack is meant for all the sports aficionados in your house, the movie channels for all the movie buffs and the list goes on. While the choice of content can depend on age groups, personal choices and more, there is no doubt that choosing the perfect channel pack is important for you (and everyone else in your home).

When you pick a channel pack for your DTH connection, you ideally look across a variety of channel packs. Now, amongst these channel packs, you will come across a variety of broadcasters too. Want to go the a la carte channels way? That could be expensive too. However, in the case of a broadcaster bouquet, you will get the same set of channels by the similar broadcaster.

Here’s an example for you to understand how the concept of broadcaster bouquet works. Let us take the example of sports channels for now. Now, in a single Sports Channel Pack, you will find a variety of broadcasters, such as DD sports, Ten Sports, Star Sports and more. However, if you choose broadcast bouquet plan from Star Sports, you will get the whole package of Star Sports channels, under one single channel pack. Therefore, if you are someone who wants to enjoy everything related to Star Sports under one umbrella, then a broadcaster bouquet pack is the perfect option for you.

Which is the best DTH connection to get a broadcast bouquet?

If you are looking for the best DTH plans in the market, then you will obviously come across a variety of DTH service providers. However, finding the best DTH plans isn’t easy, since there are a lot of service providers who promise a lot. But regardless of the high promises that they make, it’s not always possible for them to provide the best services.

If you are looking for an ideal DTH connection for your home, then these are some of the things that you should remember:

  1. Your DTH connection should have broadcast bouquet plans in it.
  2. There should not be any disturbances when you are watching content on your TV. Essentially, a connection upon which you can rely on.
  3. DTH recharge should be easy too. It would be quite uncomfortable if you have a DTH connection, but you cannot get the monthly packs recharged easily.
  4. You should also look for additional features, such as record & play, wide selection of channels and lots more.

Get an Android box

We would also suggest getting an Android smart set top box. Once you get a smart TV box for yourself, the entire TV experience gets transformed, and for the better. You get plenty of Android TV features, built in Google Chromecast, 4K picture quality, access apps on Google Play Store, stream OTT on your TV and more. All the smart TV features, without spending the same amount of money.

All these sound great to you? We suggest you look at the Airtel DTH recharge plans. They have a wide variety of channel packs, broadcast bouquet packs and lots more. Basically, everything that you would need from a reliable DTH connection.

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Five Things That New Investors In Sips Must Keep In Mind To Generate Higher Returns

Aug 30, 2022

Systematic investment plans could be a beneficial opportunity for beginner investors to start their investment journey. Instead of investing a larger amount of money, you can start by investing smaller amounts of money each month to slowly build your corpus. This factor could help beginner investors in many ways. To begin with, since the amount of money invested in the beginning is smaller, you have leeway even if you have invested in the wrong fund as you have time to switch.

But keeping a few things in mind when you invest for the first time can help generate higher returns. Below are five such key pointers.

Proper goal setting

A successful investment needs a proper goal. Without a goal, the choice of an investment may become unclear. Let us take an example to understand this more clearly. Let us suppose you are trying to create a retirement fund. You have a set goal here. That means you know that you should look for a longer-term investment option. But what will be your investment tenure if you don’t have a goal? This situation may lead to unclear or cloudy judgements. Hence, make sure you have a goal in mind before you begin to invest. 

Invest in funds that beat inflation

Inflation is something that may eat into your SIP returns. It is a phenomenon where your money’s purchasing power decreases. For instance, what Rs.100 you today could not be the same next year. Hence, you should consider inflation when choosing a fund to invest in. Ideally, the fund should comfortably beat inflation. In a lot of cases, your net returns are considered the total returns subtracted by the inflation rate.

To make sure you stay on top here, monitor the inflation rate and the growth rate of your fund throughout the tenure of your investment.

Mind the risks of your investments

Mutual fund investments come with their sets of risks, especially since there is market linkage. The amount of risk that each fund carries may be different according to the fund’s features and portfolio choices. For instance, a fund that carries more equities in its portfolio may have a higher risk compared to one that doesn’t. Here, choosing a fund that has the right level of risk becomes important. For this, you may first have to your risk appetite by talking to an investment expert.

Choose the right fund

Once you have the goal and risk appetite figured out, you have to choose the right fund as well. Now, the right fund is subjective. What works for you may not work for another investor, The best course of action is to choose a fund according to your goal. For instance, if your goal is to build an emergency fund, you may choose a fund that doesn’t have a lock-in period since liquidity is of high importance. Similarly, if you are doing retirement planning, you may choose a fund that is meant for the longer term.

Make sure you diversify

The saying ‘don’t put all your eggs in one basket is valid when it comes to investments. Hence, you should diversify your investments. Diversification can ensure that your portfolio is designed to grow and, at the same time, protect your corpus. You can diversify SIP investments by investing in multiple funds that have distinct characters. But ensure all the funds you choose are in match your investment horizon.

SIPs can be a beneficial investment option if you invest right. Follow the above pointers to make sure you get the best out of it.

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Which Is The Better Safest Option For Investment, Gold Or Mutual Fund?

Jul 28, 2022

The investment choices of Indians are very varied. According to a report from August 2020, Indians own about 25,000 tonnes of gold, the biggest private ownership in India. But India’s love story with gold investments is not new. Gold’s tangibility is one of the top reasons for the same.

At the same time, we now have grown an aptitude for options like mutual funds as well. Several data show the increasing number of mutual fund subscriptions among Indians. But there still exists confusion among the common in choosing between gold and mutual funds. Let us learn more about both and compare them to see which option is better for you. 

Mutual funds

Mutual funds are an investment option where the money you invest is put in a portfolio designed by a fund manager according to the theme of the fund. Different mutual funds will have different focuses. For instance, an aggressive mutual fund may invest more in equities, while a conservative fund may have more debt presence in its portfolio. The choice here should be based on your risk appetite and investment goals. 

Gold investments

As said above, gold is one of the most preferred investment options in India, thanks to its tangibility. Since gold doubles as jewelry and is a part of the culture in many places, it holds sentimental value as well.

As an investment option, too, gold has proved its worth with how its value has increased over the years. But when kept as jewelry, other charges, including charges, could also offset the overall profit. Virtual gold can be a solution to this. 

Mutual funds vs Gold – which is better? 

Let us compare different factors associated with gold and mutual funds as an investment to help you make the choice easier. 

Returns

The returns you get from gold investments depend on the price increase of gold as a commodity. This is dependent on different factors, including supply and demand. If history is taken as a reference, you can see that gold rates have grown between 10 to 13 % annually most of the time.

On the other hand, returns from mutual funds are dependent on the type of fund you invest in. Equity-focused funds normally can give up to 18% returns on average, while for debt funds, the returns are comparable to that of gold investments. Here, it is important to understand that risk increases as the potential increases for mutual funds. 

Gold

The risk associated with investing in gold is considered to be among the lowest. Gold has a proven track record of safeguarding wealth even at times of economic tensions. This is another reason why a lot of people still favour gold investments.

On the other hand, the risk associated with mutual fund investments depends on the type of fund you invest in. For instance, equity funds tend to have a higher risk (and return potential), while debt funds tend to have a comparatively lower risk (comparatively lower return potential). The choices are plenty, and chances are, you will be able to find a fund that is perfectly matching your risk tolerance. 

Liquidity

Gold is considered to be one of the most liquid assets. Due to higher demand, you can easily sell gold. Even digital gold shares the same attributes.

The liquidity of mutual funds often depends on the type of fund. But since most mutual funds are open-ended, they can be sold in stock markets as well.

Both mutual funds and gold investments are beneficial investment options. But the choice between them should be based on your investment goals and risk tolerance. Hence, it is wise to talk to your investment advisor before investing.

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What should investors in debt funds do as yields start rising?

May 25, 2022

While investing in the market, you come across mutual fund schemes as one of the possible investment options among several available. But before deciding to invest in a mutual fund scheme, it is important to remember that mutual funds are not a monolith. There are numerous types of mutual funds available in the market. One of them is debt mutual funds.

If you don’t know what debt funds are, don’t worry in simple terms, they are a subcategory of mutual funds that generate income in securities that are known for generating fixed income. These securities include things like corporate bonds, government securities, commercial papers, treasury bills and numerous other money market instruments. These instruments come with an already decided maturity date and the revenue earned from these schemes is usually not affected by the market fluctuations.

In debt funds, a debt fund manager usually invests in assets after studying the credit rating of an asset. A high credit rating is indicative of the fact that debt security has a higher chance of repaying the interest and principal. Apart from that, the manager regularly aligns the investment strategy as per the interest rate movements.

Regularly, investors usually redeem their debt investments when the revenue earned from the scheme is high and opt for an equity fund. However, instead of redeeming your debt fund, you can do the things listed below:

  • Continue investing in debt funds:

One of the first options you should consider is to continue investing in the debt fund scheme. It is understandable when your yields show growth, you are tempted to redeem your debt fund and look for other investment avenues. While yields rising may have some impact on an investor’s net asset value (NAV), there are numerous advantages to keep investing in a debt mutual fund scheme. Consider this scenario. You are currently experiencing growth in your debt fund investment. You may be tempted to redeem your debt fund scheme. But before, going ahead and withdrawing from the scheme, you should determine whether the benefits of redeeming the debt fund outweigh the benefits of continually investing in it. If you were to continue investing in the debt fund, you may enjoy tax benefits.

  • One may opt to invest in commodity funds:

Commodity funds are known for investing in raw materials i.e., primary agricultural products, that are referred to as commodities. They invest in things like precious metals, such as gold and silver, agricultural goods, such as wheat and energy resources, such as oil and natural gas. Moreover, commodity funds may also invest in the companies that produce the commodities mentioned above. They come with advantages like potential financial growth, protection against inflation and portfolio diversification. However, as is the case with all types of investment opportunities, commodity funds carry some risks and may not be right for every portfolio. For example, commodity markets can be volatile and therefore they can expose investors to the possibility of considerable price fluctuation. Moreover, commodities and even commodity companies are also exposed to things like political, economic, foreign currency and exploration risks.

  • Consider Investing in an NFO:

When an AMC issues units for the first time or raises fresh funds for a new theme, it is referred to as an NFO i.e., a new fund offering. Most of the time, retail investors prefer an NFO over buying mutual funds via the continuous window from the AMC. In recent years, SEBI has become stricter with respect to the criteria for issuing NFOs and AMCs are not allowed to issue NFOs on duplicate themes. An NFO is issued either because the AMC wants to raise funds for the first time or because there is a new category of fund where the AMC does not have exposure.

If you are still considering redeeming debt funds, you can do so. But before taking any action, it will be better to contact a financial expert.

Disclaimer: Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.

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5 Things to think about as an NRI planning to buy life insurance in India

Dec 17, 2021

Life insurance is something every individual must have in place to secure the financial future of their loved ones. Term insurance is one of the most popular types of life insurance because it offers large amounts of sum assured at affordable premiums. If you are a Non-Resident Indian (NRI) and are considering buying a term insurance plan in India, here are a few things you need to think about:

  1. Make sure you are eligible

You can buy a life insurance policy if you either qualify as an NRI or a Person of Indian Origin (PIO). An NRI is an Indian citizen who is residing in a foreign country for an extended period – at least 183 days in a financial year.

A citizen of another country, other than Bangladesh or Pakistan, is considered a PIO if at any point they held an Indian passport or whose parents, grandparents, or great grandparents were Indian citizens. The spouse of an Indian citizen or an individual who qualifies as a PIO according to one of the above clauses is also considered a PIO.

  1. Select the right insurer

Once you’re sure you qualify either as an NRI or a PIO, you should compare different insurers offering life insurance for NRIs. When selecting a term insurance policy, you shouldn’t simply compare the premiums. A low premium does not always mean the right policy or one that offers comprehensive coverage. An important factor to consider is the claim settlement ratio of the insurer. This ratio tells you how reliable the insurer is when it comes to settling term insurance claims. A 95% claim settlement ratio means they settled 95% of all the claims they received in one year.

You should also look at the turnaround time because you want to opt for an insurer who is quick in settling and disbursing the funds. Other things to look at are the quality and accessibility of customer service, brand image, and if they have a specifically designed process in place to help NRIs with documentation, medical tests, etc.

  1. Figure out the medical exam procedure

A medical test is mandatory in the case of life insurance in two cases – either if your age is above the one specified by the insurer (usually 35 or 40) or if your policy amount is above Rs 10 lakhs. What the medical test entails will depend upon factors such as your age, family’s medical history, and your lifestyle habits such as whether you drink alcohol or smoke. Generally, a urine and blood test are conducted, and your height and weight are measured. Additional tests may be required to measure cholesterol levels and STDs.

As an NRI buying term insurance in India, you can go about the medical test in two ways. One, you can come to India and get your medical test done through the insurer. Or two, you can get your test done in the country of your current residence as per the terms of the insurer and send them the reports. Most insurers have tie-ups with overseas medical facilities for the medical examination.

  1. Determine how you will pay the premium

Once you narrow down on the insurer and select the term insurance policy, you need to consider how you’re going to make your premium payments. You can pay your term insurance premium through a Foreign Currency Non-Resident Account (FCNR). This is a type of fixed deposit account that is held in foreign currency for depositing the income that you earned overseas.

Alternatively, you can also pay in Indian rupees through a Non-Resident External Account (NRE) or through a Non-Resident Ordinary Account (NRO) depending on whether your income source is entirely from overseas or partly from overseas and partly from India.

  1. Understand how you will be taxed

When it comes to life insurance, there can be three points of taxation – when you pay premiums, when you earn interest, and when you receive the payout either as a death benefit or maturity benefit. There are different sections under the Income Tax Act, 1961 in India that allow for certain tax deductions and exemptions for various instruments including life insurance policies. However, when you look at term insurance for NRIs in India, you need to consider:

  • Do these sections apply to you as an NRI
  • What the tax laws are in the country you are currently residing in

You can consult a financial expert who can help you figure out how your term insurance will be taxed in the context of both India and the foreign country.

Conclusion

If you have any doubts about either the process of buying the policy or the claim settlement process, you should reach out to the insurance companies you have narrowed down. It will not only help you get a clear idea of the policy, but you will also be able to tell how the service of the insurer is.

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Here Are Some Key Reasons to Select a Comprehensive Car Insurance

Nov 26, 2021

If you are a car owner, you would be well aware that having a car insurance is mandatory to drive in India. But if you are someone that has done a bit of research about traffic regulations in the country, you will know that only a certain amount of insurance coverage is mandatory.

According to the Motor Vehicles Act, 1988, any vehicle that drives on Indian roads should be covered under at least a third-party car insurance policy. This is because the policy is aimed to cover you against any legal or financial liabilities in the case of an accident. More precisely, if your car ends up causing physical harm or property damage to a third-party, they are entitled to compensation that can be too much to bear for you. Hence, the insurance provider will cover you for it. However, a third-party policy is a minimum requirement. This means there is always more coverage that you can go for.

The other option you have is to go for is a standalone policy. It is the opposite of a third-party policy. Where a third-party policy only covers liabilities, a standalone policy only covers own damages. Hence, if you buy a standalone policy, you will have to cover the liabilities of an accident. Moreover, you might be fined for not having liability coverage by traffic authorities. Hence, what you need is a holistic coverage option. One such option is a comprehensive car insurance policy. Here is why you should select comprehensive car insurance:

Highest form of coverage

Out of all the car insurance coverage options, a comprehensive policy offers the highest degree of protection. It gets its name for the 360-degree coverage that it offers. Firstly, it offers the coverage of a third-party policy. This means that coverage for legal financial liabilities is included. Adding to that, the policy covers own damages. This means it offers compensation to you in the case your vehicle suffers any damages or loss due to an accident or any other mishap. You can either claim reimbursement of all the money you spend on repairing your car or you can make a cashless claim and have your insurance provider cover the repairs. The latter out of the two is often preferred. If you want holistic coverage for your car, you should immediately use a car insurance calculator to get an idea of how much a comprehensive policy will cost you. * Standard T&C Apply

Compensation for death or disability

A comprehensive car insurance policy provides coverage for physical injuries and/or death of the driver /owner of the car. In case, the policyholder suffers from a partial disability, permanent disability, or death, there will be a fixed amount that will be paid out to the parties concerned. In the case of a disability, the policyholder will receive the amount. In the case of death, the amount will be given to a nominee of the policy. * Standard T&C Apply

Protection from natural calamities

Usually, at the time of car insurance claims, the damage to be repaired is due to a road accident or vandalism. However, that is not the only way your car can get damaged. Sometimes, you could have simply parked your car and an earthquake, or a flood could do major damage to your car. A comprehensive policy covers your car against damages caused by natural calamities. In the case that your car gets damaged beyond repair, you will receive a pay-out as compensation for the car. * Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

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Do You Need to Update Your Family Health Insurance Periodically?

Nov 26, 2021

Health insurance is critical, especially after a global virus which brought the world to a standstill. The importance of having a health insurance coverage cannot be emphasized. Any minor medical treatment in 2021 can not only mean deep expenses, but also can result in a debt trap. Since health is something that you do not wish to compromise upon, so why hold back when selecting a health insurance cover.

To ensure the safety of your entire family, a family floater health insurance comes handy. Here, a common sum assured is shared among all the beneficiaries and thus you need not worry about availing multiple insurance covers for each member. However, as age increases, the health needs of different family members change. This is when reassessing your coverage is required. Revised insurance coverage helps to update your family floater policy as well as stay prepared for future medical treatments.

Do you need to update family floater health insurance periodically?

  • With soaring medical inflation, healthcare has become highly expensive. A single case of hospitalisation can burn a hole in your wallet. Moreover, a policy with smaller sum assured can easily get exhausted for a minor medical procedure thereby leaving no coverage for future treatments.
  • Upgrading your health insurance policy can often be a lengthy process, not in terms of documentation, but for the research that is required. With myriad insurance plans available in the market, it becomes difficult pick one. Hence comparing them thoroughly is essential.
  • The estimated cost of treatment in the future needs to be assessed only after which the sum assured must be selected. Thus, you need to keep revaluating whether your health insurance policy covers for the same or not. The existing cost of medical treatment will help you decide if the coverage is adequate or not. If not, it is best to upgrade your insurance coverage.

So, for being ready to tackle unexpected medical exigencies, it is best to keep updating your family health cover periodically.

What are the benefits of health insurance that an upgrade offers?

Here are some benefits of health insurance that you can avail by updating your health insurance cover:

  1. Higher sum assured

With increasing cost of treatment, a revision in your sum assured helps you stay abreast with the expected medical cost. Such higher coverage helps provide a comprehensive treatment without having to worry about financial stress.

  1. Modification of beneficiaries

If your family is celebrating the arrival of a baby, updating your health insurance policy can help to add insurance coverage for the newborn too. Generally, family health insurance policies offer coverage as early as 90 days thereby ensuring protection for your newborn right from the start. * Standard T&C Apply

  1. Adjusting the deductible component

Health insurance plans have a deductible clause wherein a specified amount of claim needs to be borne by the policyholder. Since it is an out-of-pocket expense, it directly impacts the premium. So higher the deductible, lower is the premium and vice versa. You can adjust such deductible component based on your present finances. * Standard T&C Apply

With these different benefits, make sure your family health insurance coverage is always updated and look for any updated requirements in coverage. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

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Five Common Errors in Stock Trading

Jun 13, 2021

Traders are working hard to fulfill their dream in the market. But, the real truth is, 92% to 95% of them fail to succeed in the market. However, by listening to this, as a trader, you should not think, you can’t achieve your goal in the market. Remember, if you can make the right decision, it would become easy for you to make money in the market. However, most of the traders fail to make the right decision in the market and thus lose money. Bear in mind, in stock trading, traders should take the steps of thinking properly. Or else, it wouldn’t be possible to do well.

However, in this post, we will discuss the five common errors of the stock trader. We hope it would help you to solve your problems.

Overtrading

Many traders start overtrading in the market. They think they can easily earn more by trading more. But, in stock trading, it’s important to choose the profitable trade to make money. Being a stock trader, if you try to trade more but you have made the wrong selection, you can’t get success in the market. For this reason, you need to avoid overtrading. Try to trade by following the plan properly. Make an advanced plan where you need to mention how much trade you will do.

Using high leverage

Some traders use the high leverage for trading more. For this reason, if the market goes against them, they face a major loss. The leverage indeed allows the traders to make more profits, but it also risky. So, before borrowing the leverage, traders need to consider their capital. Some traders take the high leverage and lose huge money in the market. So, they can’t trade for a long time. If you intend to know more about the optimized leverage, see here. Remember, the good broker will never offer insane leverage as it makes things hard. Keep the leverage factor low and try to improve your skills rationally.

Try to beat the market

As a trader, you should understand, you can’t control the scenarios of the market. That’s why smart stock traders change themselves to adjust to the market. But, newbies can’t understand the scenarios properly and can’t take the right steps. However, if they gather knowledge about the market, they might recognize the different characteristics of the market. Besides this, the newbies can take help from their mentors to make the right decision. So, the most important thing is, they have to take the proper preparation to run their trading process systematically. Or else, they can’t do better in the market.

Not being confident

Some traders are not confident in terms of trading. They feel fear, they will lose money. That’s why they can’t apply the right strategy and can’t grab the good opportunities of the market. For building confidence, they need to prepare themselves properly. Such as, they should focus on developing the skills, making a better plan, and applying innovative techniques. However, if they are confident about their abilities, they might not lose their money. So, being a stock trader, you should follow the professionals to know how they have taken the preparation.

Excessive emotions

Remember, excessive emotions let you down in the market. So, you should try to avoid your emotions in the market. To avoid emotions, it’s important to increase the courage level. If you have enough courage, you will not take any wrong steps in the market. However, if you know how to handle the various situations of the market, you might get the courage to deal with the market. So, firstly, traders should collect the basic ideas of the market to perform properly.

So, these errors are responsible for losing money in the market. That’s why being a trader, you should avoid the major emotions which will help you to do better in the market. However, take some necessary measures to avoid making errors.

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Most useful features of Airtel payments Bank

Apr 26, 2021

Payments Banks are different than traditional banks as they come with some additional features. There are three payment banks currently running in India which are – Indian Post Payments Bank, Airtel Payments Bank, and Paytm Payments Bank. With some similarities, there are also some unique features that each bank has. The Reserve Bank of India conceptualized these kinds of banks, and they can be functional only after getting the needed license. Here are some of the unique features of Airtel Payments Bank:

  1. Deposition of up to 1 Lakh – Airtel Payments Bank has a limit of 1 lakh on the deposits, and a user cannot exceed this limit. You can deposit the amount partially or fully at one time. This limit protects the interest of customers.
  2. No account maintenance fees – Like most payments banks, there is no need to maintain an account balance. To open an account in Airtel Payments Bank, you only need a first-time deposit of Rs. 100.
  3. The interest rate of 7.25% – Airtel Payments Bank offers an interest rate of 7.25 percent on the deposits made by the users. This makes it unique as popular digital wallets do not offer any interest in the deposition.
  4. Accidental insurance of 1 lakh – Another benefit of having an account in Airtel payments bank is that it offers accidental insurance of up to 1 Lakh. No other apps offer such benefits in this segment.
  5. Free talk time – To encourage people to deposit money in Airtel Payments Bank, the company offers one minute of Airtel-to-Airtel free talk time for every Rupee that a user deposits and withdraws from his account.
  6. Security – All the transactions done using Airtel payments Bank are secure as they need two-step verification. The OTP verification makes the transaction highly secure, with no chances of fraud and scams.
  7. Attractive offers – Airtel Payments Bank offers great discounts and cashback to its users on making payments using Airtel Payment Bank. There are many offers and cashback that you can take benefit from making payments for online recharge of mobile, DTH, utility bills, etc.
  8. Mobile number is your account number – We all know how difficult it is to remember the long account number. With Airtel Payments Bank, you don’t need to keep a record of your account number as your mobile number itself will be your account number. It may not be a huge benefit, but for the people living in rural and semi-urban areas, this is a huge benefit.

Airtel Payments Bank offers ease of making payments. By opening an account with Airtel Payments Bank, you can conveniently pay online bill payment and all your utility bills, including gas bills, electricity bills, water supply bills, DTH recharge, mobile recharge, and many more. The interest rate offered to its customers is also high when compared to other traditional banks. It is the same as the fixed deposit rate, which is 7.25%. The virtual card offered by the Airtel Payment bank is also great as it reduces the cost of physical debit card and at the same time provide the ease of using the debit card for making online and offline purchases.

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