richajain

@richajain

Hello, I am Richa Jain, a seasoned financial expert passionate about empowering individuals with sound financial advice and strategies.

Joined on Jun 6, 2024

  • image Fixed Deposits (FDs) are a popular investment choice in India due to their safety, fixed returns, and liquidity. However, instead of breaking your FD during financial emergencies, you can opt for a loan against fixed deposit. This facility allows you to borrow against your deposit at a lower interest rate while keeping your FD intact. Let’s explore the key benefits of taking a loan against an FD, eligibility criteria, and application process, before opting for one. What is a Loan Against Fixed Deposit? Similar to a loan against property (LAP), a loan against fixed deposit is a secured loan. In this case, instead of your property, the lender offers funds against your FD as collateral. Since the deposit serves as security, banks and financial institutions provide this loan at competitive interest rates, usually lower than personal loans.
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  • Personal Loan (2) Pursuing higher education can be a turning point in a student's life, but it often comes with significant financial challenges. While scholarships, grants, and education loans are commonly sought for funding, there are situations where students may need additional financial assistance. In such cases, a personal loan can offer a solution. However, it’s essential to know when and why a student should consider opting for this financial product. Here are five situations when students in India should consider applying for a personal loan: 1. Covering Unforeseen Educational Expenses While education loans are designed to cover tuition fees, they may not always cover other related expenses such as exam fees, purchasing laptops or study materials, or travelling for internships. These costs can add up quickly and create financial stress for students. In such situations, a personal loan can provide flexibility. With no restrictions on how the loan can be used, students can manage these unplanned costs effectively. Personal loans also offer quicker disbursement, which can be particularly useful when these costs come up unexpectedly.
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  • Fixed Deposit for Child As a parent or guardian, saving is an important part of financial planning to secure your child's future. By starting early, you can build a substantial corpus to fund important milestones of your child’s life, whether it’s higher education, their first house or wedding. On Bajaj Markets, you can explore Fixed Deposits (FDs) from leading financial institutions and enjoy attractive interest rates. An Overview of Fixed Deposits In FDs, you deposit a fixed sum for a specific period and earn returns. Here is how it works:
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