I want to understand how these charges are calculated  I have an FD less than a month old, if I withdraw will I pay penalty from principal amount? I haven't even earned any interest on it yet (it i...

Welcome to Personal Finance's Private Community

I want to understand how these charges are calculated 
I have an FD less than a month old, if I withdraw will I pay penalty from principal amount?
I haven't even earned any interest on it yet (it is monthly payout)

Premature FD withdrawal charges

Corporate Strategist

Premature FD withdrawal charges- Grapevine

Read up about FD sweep ins in HDFC.
It comes in handy when you have all money invested in FDs but have to make some big urgent payment. So if you break your FD you will lose interest and get a small penalty. Hence FD sweepins are an easy alternative and they clearly claim there is no loss in Interest Rate.
So my question.... 
Have you ever used HDFC Sweep In facility? If so what are the draw backs feels a bit too good to be true...

If we have an IPO mandate and don't have sufficient funds in account, will sweep in work for this as well?

What are the drawbacks of HDFC Sweep In facility?

Founding Engineer

As u guys know only 5L is insured, I want to know how much you’re comfortable keeping in account? Maybe someone’s living expense could be 10L a year and they are okay with keeping that as emergency fund liquid, just an instance. But given the kinds of scams and stuff that go on in wild, what is a good formula or number of Lacs to keep in bank account? Maybe u have several accounts for different purpose and u divide it? Please share your views.

[Thread] How much are you comfortable keeping in ur Bank account?

Software Engineer

Hi folks!
I'm planning to get married in over a year from now. I don't want to touch my portfolio for this and hence starting a wedding fund where I'd pause my investment for a year and route the money into this fund.
Suggest an instrument class where I should park this money. It'd be roughly 70k/ month.

Also would love to know how did you finance your wedding? Any tips?

Where to park wedding fund

Associate Product Manager

A win in its own sense. I invest in mutual fund as well which is worth 27L but this is direct equity portfolio. AMA

Equity Portfolio touched 2Cr this Friday!

Founder

Best FD option to invest in with 0 charges on breaking it anytime?

Best FD to invest with 0 charges.

Data Scientist

Hey guys if you are using Cred Mint for lending, please help. I wanted to know if you guys get the 9% return per annum as promised and what are the downside of this investment, if any. 

Also, is there any better alternative to Mint?

Cred Mint 9%

Product Manager

I have lump sum of 3.6 lakhs in my savings account. Pls suggest where to invest it.

I am thinking of 50% of lump sum invest in FD and 50% of lump sum in liquid funds.

Where to invest emergency fund

Hello folks. While I'd like to remain anonymous very much, here's what I can share about myself.

1. Working in consumer finance.
2. Love personal finance and helping people out with it.
3. Have published 10,000+ pieces of financial content in the mainstream media.
4. Wrote a best-selling book on money management. It was No. 1 on Amazon once upon a time. 
5. Lately been appearing on TV regularly for personal finance discussions.
6. Saved like crazy through my 20s and 30s, brought two apartments; have an 8-figure net worth mostly thanks to my mutual fund investments. It's not much but it's hard-earned.
7. My unrealised aspiration is travel and I'm working on it now.

No, I'm not selling anything. No commissions, no referral links, no finfluencing. 

Just want to talk, exchange ideas, and learn from you all. Maybe I'll feature you in my next book. :)

Ask me anything.

Let's talk money habits.

Welcome to Indian Startups's Private Community

How much safe is it to put say 5L+ in Cred mint

Opinion of Cred Mint

Business Development Manager

Hey folks!

I saw slice ad saying they are offering some upto 5 l interest free loan. Checking that out.

But what companies are offering loan at some extremely low interest rates? I am assuming banks would charge a premium vs the tech companies.

I am looking for some 2-4l loan purely because I can earn more via trading than the interests I'd pay for loan.

Least interest loans

Tech Lead

Hi folks, I am filing ITR and I find complete mismatch between the IT portal data of FD interest earning, and my Banks’ data. I checked all the forms- Form 26AS, AIS/TIS, traces portal. But none of them match with Banks’ data. What should I do? For one Bank, the interest amount is highly undervalued, and for the other Bank, it seems highly overvalued. Any quick way to find? Which should be considered the definitive record of interest earned?

How to find total Interest Earned from FDs?

I’ve around 30L of cash. What’s the best place to invest? I’m worried about the volatility of the market.

Where to invest cash right now?

Software Developer

Which bank gives the highest interest rate on saving accounts?

Best interest on savings account

Hi folks, 

Personally, I thought I should invest in the index fund. Because, I don't want to take the risk with this amount. 

But I would still like to know 2 things - 

1. Is the index fund fine? 
2. Is it the right time to invest in lumpsum Or should I do an SIP of 20k? 

Any help would be appreciated. 

Thanks in advance :)

Where to invest Rs. 2 lacs right now?

We don’t know your risk profile, but your statement gave me a hint of conservative.  
  
 For a conservative investor in the current market situation, I will do 2 step investing. 
  
 1. Put 1.6/1.8L in arbitrage/liquid fund  
 2. Start monthly index investing with 20k 
  
 If I see 2.5% correction in index, I will move 60k in index from arbitrage/liquid. If index sees more than that, I will transfer rest of the amount to index.  
  
 The above method will preserve my capital & gains both.

I am investing in mutual funds for quite sometime (6months ) , at what point funds can be withdrawn?

Premature FD withdrawal charges

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