Recurring Deposit Archive

Digibank by DBS

“People don’t need banks, people need banking”- Bill Gates Applications for banking are increasing and the penetration of virtual credit cards, virtual debit cards are increasing. With the penetration of the same in India, Digibank which is a multinational banking and financial service providing bank also thought to launch its services in India. They didn’t launch the services in India as a full fleshed bank, …

How Does Recurring Deposit Work

Recurring Deposit is a small savings based financial tool which can be used to meet a lot of your life’s goals without any risks, and with certain returns. It is one of the most simple and straight forward investment tools. It is ideal in a way that it is not only easy to understand and manage, but also prevailing to meet your short term goals in …

How Does Compouding of Interest Work?

Compounding is the process and the ability of an asset to generate earnings from the previous earnings. Compounding is where the investment value rises because the earnings on an investment, both capital gains and interest, earn interest as time passes.  Compounding (sometimes called as “compound interest”) transform you are working money into a highly powerful income-generating tool. To work, it requires two concepts: the time …

Classifying Investments in 4 Easy Terms

When it comes to investments, end goal is of uttermost importance. If you don’t have an end goal, the investment might not fulfill its purpose, and when you would actually need it, there can be a chance that you don’t reap the returns that you expected. Hence, it becomes essentially crucial to plan the end goal and plan your investments according to it. Interestingly, if …

How to Create Wealth

“Money is sacred. It is not to be taken in a rash manner and needs a wise saving and accounting practice. “   Only a few among us can actually see their money growing towards wealth, while the others keep on circulating it for their lifetime, not accumulating enough and just matching their income with their lifestyle. It is also to be noted that most …

Benefits of Recurring Deposit (RD)

An old Marwari, during his conversation regarding money habits, quotes “To generate new money, first you must have some money” and “only money can grow money”. The question that arises is how to get that money to invest and let it grow? This usually the young and risk seeking investors, who do want good returns. A product that does not require a large investment, but …