Category Archives: Banking

Refrain from personal bank visit if you want to protect your money!

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Do not worry after reading the title of this blog. Your money is absolutely safe in the bank account. However, it is not safe if you visit the bank because there are a lot of vultures (pardon my language but cannot describe this any another way) around waiting to pick every penny from your account especially during the March closing of a financial year. They know how much money is lying in your account.Yesterday, I read on a personal finance forum on FB about how an old couple was tricked into buying a unit linked insurance plan (ULIP) after promising a fantastic guaranteed return with insurance cover. This senior citizen couple had gone to the bank to simply renew their fixed deposits.

Apply the ‘KISS’ principle to managing bank accounts

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In present times, banking has become very easy within the confines of our homes thanks to the internet. One need not go to the bank branch in person to conduct transactions or for information. However, despite convenient banking at the click of a mouse, managing multiple bank accounts can be cumbersome. They are a drain on our precious time, money and energy.

How to deal with banks who force you to buy insurance bundled with required product

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The entire experience of borrowing a home loan can be quite frustrating for a home buyer. While going through the ordeal last year, my family & I did learn a few things though. One of the common practices we observed in the banks where we approached for preliminary loan enquiry was that they had bundled up insurance along with home loan products. Some banks brazenly promote that the home loan package is designed in such a comprehensive way that insurance is a compulsory part of it for buying.