Grow with Vivek

Fixed deposits have been the choice of investment owing to all the right reasons. They offer a guaranteed return on investment without taking almost any risk. So, whether there is inflation or deflation in the economy, you will continue to earn a good return on your deposit. Furthermore, with the  fixed deposit  app , y ou can now track your investment and renew it whenever you want, without any hassle. But, if you are not happy with how things are and looking for ways to maximise the return, you need to know some tricks. 7 Innovative Tricks to Earn More Return From FDs Here are some tricks to get the best possible return from FDs – 1.        Opt for the Cumulative Option The first option here is to opt for the cumulative FD option. Since the return you earn under this deposit gets reinvested, you can benefit from the power of compounding. Therefore, at the time of maturity, your total investment increases substantially, and so is your final payou...

A life insurance policy is an effective financial tool that extends financial security to the insurer's family in the event of unforeseen circumstances like the policyholder's demise, critical illness, or disability, which can eventually result in the loss of income source.  Besides acting as a shield and protecting family members from different life uncertainties, Life insurance also enables you to build wealth. For instance, with Unit Linked Insurance Plans (ULIPS), insurers can avail of life cover and generate wealth through systematic investments in market-linked products. Further, the designated websites of insurance companies enable you to pay insurance bills seamlessly. Reasons Why Investing in a Life Insurance Policy is a Smart Financial Move Here are some of the notable benefits of investing in a life insurance plan: Acts as a Safety Net One of the most important reasons people invest in insurance plans is to secure their family against any economic ...

A fixed deposit is a savings account where you put your money for an agreed number of months or years in return for guaranteed interest. Suppose you deposit Rs 5 crore with a bank for five years under an agreement that 8% interest is added to the principal amount annually.  A fixed deposit is an agreement between a customer and the financial institution where you cannot withdraw the principal amount for a period when accrued interest is tangible later. Fixed deposit is also known as a term on deposit or time deposit because the deposited fund is for an agreed number of years. Per the depositor's desire, this term can be anything from 2 to 5 or 10 years. Shortened terms are possible if all parties agree to it. This manner of saving money comes with several features, benefits, and eligibility criteria. Features of Fixed Deposit Accounts Here are some of the features of a fixed deposit account: • The deposit is frozen in the account for the agreed number of months or years. • Most ban...

Do you need a personal loan? You are not alone. You can get a loan today by approaching a financial institution such as ICICI Bank or using a loan app manageable on your mobile device. You can obtain your desired loan amount within the next few minutes if you meet the eligibility criteria set by a lender. Below are five steps to apply for and obtain the personal loan you need: 1. Speak to ICICI or Download a Loan App Contact ICICI Bank or any financial institution and ask for a personal loan. Some financial institutions may require you to have an existing savings account before applying for a loan. You can also download the banking app to apply for a personal loan without any difficulty. 2. Review the Terms and Conditions Review and accept all the terms and conditions of the loan to proceed with your application. The terms of your loan will cover the loan amount, applicable interest rate, tenure of repayment, methods of repayment, and late payment or violation fees. 3. Fulfill the Eli...

Digitisation has rapidly revolutionised the banking and finance sector. Now every financial institution has its online platform to help its users. Hence, the days of waiting in long queues for hours have gone, as you can now access your bank account anytime, anywhere, using a mobile banking app.  How to Transfer Money With a Mobile Banking App? Using an online banking app is easy and simple. You only need a good internet connection and a device to download the app. You can easily send money to anyone in the world through such apps. It also takes a very little amount of time. Here is a brief guide on how to transfer money -      1. Log in to your account in your mobile app with the proper credentials.     2. There will be many options available on the home page. Click on the option 'transfer of money'.      3. Now add the details of the person you are sending the money to.      4. Add all the details of the account carefully. Yo...

Fintech is making the banking industry undergo rapid innovations. From an interactive mobile banking app to voice-controlled banking operations, newer technologies are setting newer trends in modern banking. Smartphones have made mobile banking easier, and plenty of other transformations will make banking more personalised than ever. Some of these are as follows: · Voice-Controlled Banking Made possible by voice-recognition technology, consumers can soon carry out banking transactions using their voices only. Just as Alexa and Siri can be activated and controlled by voice, banking operations will soon become possible with voice commands for people who do not want to type out instructions. · Wearable Technology Customers can take hard token devices everywhere to authenticate banking transactions. Very soon, wearable technology will facilitate banking operations. With wearable devices such as smartwatches or fitness trackers, consumers can soon carry out financial payments, account manag...

Mobile banking, or mBanking, involves financial transactions on your bank account via mobile devices. With the appropriate mobile app on your smartphone, you can transfer and receive payments, obtain and liquidate loans, apply for debit or credit cards, make UPI payments, and pay utility bills – all from the comfort of your home or office. That is mobile banking in its full essence. You can do mobile banking using a mobile banking app or your financial institution's website. You can access your bank's services via smartphone or laptop without entering the banking hall. You can even conduct financial transactions while in your car commuting to work. Mentioned below are some mobile banking services you can access on the go: · Internet banking Internet or online banking activity requires logging into your account via your bank's website. If you use ICICI Bank, you can log into the bank’s website to access your account for online banking. You can make payments, invest your fun...