There are many ways to own gold. You can buy gold coins, gold biscuits, or even gold jewellery. You can also hold gold in financial form. Gold mutual funds, Gold ETFs, and Sovereign Gold Bonds (SGBs)

Why do we have to make down payments for home purchases? Why can’t the banks lend the full amount for the purchase? Two reasons. Firstly, the banks get a wider security cushion while lending. So, if the bank lends Rs 80 lacs for purchase of Rs 1 crore house, in the event of default, the…

You open a bank fixed deposit of Rs 5 lacs for 2 years at 7% p.a. After a couple of months, you need Rs 2 lacs to meet a planned expense. To meet the expense, you take out an overdraft facility against the FD of Rs 5 lacs. The interest rate on the overdraft facility is 1% more than the FD rate. Since the FD rate is 7% p.a., the overdraft interest rate is 8% p.a. Is this a good idea?

Ever tried to book railway tickets using a credit card? You would have quickly realized that you need to cough up 2% extra (1.8% + GST) to book your train ticket using a credit card. That’s a lot. For booking train tickets on IRCTC website, UPI and net banking are the cheapest modes.

Do you order frequently on Zomato? If you do, would you want to own a credit card issued by Zomato? Yes, I know Zomato is not a bank and can’t issue credit cards. I am talking about a co-branded credit card.

It is not easy to get a home loan. You must have the right job/profession, age, income, and creditworthiness to get a home loan. Many times, the lender is willing to offer you the loan but not the quantum you desire. And don’t pin the blame on lenders.