Should I open a savings account in ICICI or HDFC? Got a job they’re not opening a salary account but I have a shit bank currently which was a continuation of a student account from my college, I want to shift banks before onboarding. I need one that has the most consistent and rewarding offers across MMT, goibibo, book my show, swiggy zomato Myntra Amazon. Ig that’s either ICICI or HDFC. I’m new to all this so I’m just beginning to learn about RD and FD and all, should I be looking at interest rates? How do I know... 2 0 replies
Aggressive Growth Mutual Funds: A High-Risk, High-Reward Investment [Aggressive Growth Mutual Funds](https://datesfinserv.com/aggressive-growth-mutual-funds/) are a type of equity fund that invests in stocks of companies with high growth potential. These funds aim to maximize capital appreciation over the long term, often by investing in stocks of small-cap and mid-cap companies. However, with high potential returns comes higher risk. **Understanding Aggressive Growth Funds** * **High-Risk, High-Reward:** These funds invest in volatile stocks, which can lead to significant fluctuations in their net asset value (NAV). While they have the potential to generate substantial returns, they also carry a higher risk... 2 0 replies
Freelance Income from Abroad: Pay Tax or Just Hope No One Notices? I earn between 50k INR and 100k INR every month from overseas freelance work for international clients. I invest most of this money in mutual funds. My questions are: 1. Do I need to pay tax on this income? 2. Do I need to file an ITR (Income Tax Return)? 3. What are the consequences of not doing either? 4. Are there ways to legally reduce the tax I need to pay? I’m new to this, so I apologize for any confusion or lack of knowledge. 4 0 replies
Where do I start as a 20 year old? I’m new here and looking for advice on personal finance management. A bit about me: I’m a final-year BTech student and recently started earning a stipend of ₹30,000/month from my internship. I’ll also be joining as an ML developer next year with a package of ₹22 LPA. Since I have started earning I want to learn about managing my finances. I don’t know much about saving, spending, or investing. I also don’t understand how things like credit cards, mutual funds, or stocks work. I want to learn how to... 2 0 replies
Prediction led to one thing: MORE TAXES. For more such updates and interesting updates Check out- r/Sharemarketupdates 1960s - "Oil will run out in 10 years." 1970s - "A new Ice Age is coming in 10 years." 1980s - "Acid rain will destroy all crops in 10 years." 1990s - "The ozone layer will disappear in 10 years." 2000s - "The Arctic ice caps will be gone in 10 years." 2010s - "Global warming will cause irreversible damage in 10 years unless we act now." NONE of it happened, but every single prediction led to one... 2 0 replies
Mutual Fund SIP vs. PPF: A Comparative Analysis When it comes to long-term investment, two popular options often emerge: Mutual Fund Systematic Investment Plans (SIPs) and Public Provident Fund (PPF). Both offer unique advantages and cater to different financial goals. Let's delve deeper into these investment vehicles to help you make an informed decision. # Understanding Mutual Fund SIPs A [**Systematic Investment Plan (SIP)**](https://datesfinserv.com/sip-vs-ppf/) is a disciplined investment approach where a fixed sum is invested in a mutual fund at regular intervals. This strategy helps average out the impact of market volatility, reducing the risk associated with... 2 0 replies
Should I buy or rent? Parents savings - 1 crore (plot) My income - 45 LPA Wife - 21 LPA Recurring Monthly expenses ~ 1.2 lacs (Rent, grocery, transport etc) Current portfolio: Emergency + wants (trips) fund ~ 18 lac (FDs) Mutual fund ~ 20 lacs EPF ~ 10 lacs Cost of flat in Bengaluru 3BHK in East Bengaluru (Good builder) ~ 2 CR 1. Should I buy or rent? 2. If I rent, I will be paying around 50-60K in rent every month for a 3 BHK. Instead of paying rent, should I... 5 0 replies
You need a corpus of 65X of your annual expenses for Early Retirement You need a corpus of 65X of your annual expenses for Early Retirement 3 0 replies
Wasting time is quickly becoming a national hobby!! For more such updates and interesting updates Check out- r/Sharemarketupdates (1) 1 drop year for IIT, no problem (2) 3 drop years for UPSC, no problem (3) 4 years with 50% capital erosion as an FnO Trader, no problem (4) Wasting time and money making teams on Dream 11, no problem (5) No interest in Engineering but doing engineering to become a photographer after 4 years, cool We fight the toughest exams in the hope of pursuing career paths we don't like. Wasting time is quickly becoming a national... 4 0 replies
Are you team stocks or mutual funds? We're hosting a 15 day advent calendar challenge, where we'll be asking really fun questions about your money. Join us here- https://www.reddit.com/r/INDmoneyApp It's going to be a lot of fun!🥳 5 0 replies
Need feedback and advice :) 24M here. I’ve been working in the software field, earning around ₹55,000 to ₹60,000 per month for the past two years. I spent quite a bit on travelling and other experiences, but managed to put around ₹1.5L into stocks, which are now at ₹2.5L, and that is my only savings. Is that too low given how much I’ve been earning for the last two years, given I have no other financial burdens/responsibilities? Going forward, what should be my strategy, considering future family, kids, house, etc? 1 0 replies
What loan to go for? Hi,Planning to purchase a piece of land from a family member. I have a housing loan currently running with SBI. Cannot be topped up as will need to clear it soon. Which loan except housing would be best? Amount required would be 15 lakhs and I plan to clear it in 1.5 to 2 years. I am a consultant in an IT MNC paid out in INR from India office. 3 0 replies
Step-Up SIP: A Smart Strategy for Growing Your Wealth # A Systematic Investment Plan (SIP) is a popular investment method that involves investing a fixed sum regularly in a mutual fund scheme. A step-up SIP is a variation of this strategy where the investment amount is increased periodically. This can be a powerful tool to accelerate wealth growth. **How Does a Step-Up SIP Work?** In a [**step-up SIP**](https://datesfinserv.com/step-up-sip/), you start with a fixed monthly investment amount. After a certain period, you increase this amount by a predetermined percentage. This gradual increase in investments over time can lead to... 1 0 replies
Is there any flaw in hypothetical income tax structure? I was thinking of a way to increase the number of people paying income tax and to lessen the burden who gives tax. If goverment comes up with a way to return a percentage of tax paid in terms of services cost, could it go wrong in some way? Let's say one pay 1 lakhs rupees in tax, toll tax or house tax (or some other services) for that person is discounted maximized at 5% of 1 lakhs. I know goverment already gives services like infrastructure and subsidy. But... 5 0 replies
HDFC BANK blocked withdrawal on my account Attention! We've placed a Debit/Withdrawal Block on your HDFC Bank A/c XXXXXXXXXXXXX. Reason:A/c guidelines not met.Kindly visit your home branch. Thats the mesaage i got and i am unable to take out my money they asked me to submit a formal letter with a copy pf my ITR explaining the source of money and its usage. Can i opt for closure of the account? The bank employees said they wont let me close before i clear this mess also can i complaint through the RBI? Its a tough situation... 3 0 replies