JioFinance360 Debuts Smart Financial Health Score: AI‑Powered Insights for Spending, Borrowing, Wealth, and Tax

(Left to Right) - Surbhe S Sharma, CEO, Jio Finance Platform and Service Limited; Hitesh Sethia, MD-CEO, Jio Financial Servic

The pathbreaking new features combine personalised financial insights with exclusive value-back benefits to guide customers towards their long-term financial well-being, while making the journey rewarding at every step.

Jio Finance Platform and Service Limited (JFPSL), a wholly-owned subsidiary of Jio Financial Services Limited (JFSL), today announced the launch of JioFinance+ and JioFinance360 on the JioFinance app. The two novel initiatives that have been rolled out are designed to help customers better understand and improve their financial health, and unlock greater value with each transaction through enhanced rewards.

JioFinance+: Unmatched benefits with every transaction

JioFinance+ is a comprehensive first-of-its-kind membership programme that offers exclusive benefits across eligible financial products on the JioFinance marketplace.

A key feature of JioFinance+ is its value-back model, where a portion of the platform commission earned on eligible marketplace transactions is shared with customers as direct benefits, making financial transactions on the JioFinance app even more rewarding.

Available complimentary for the first 365 days as an introductory offer, JioFinance+ delivers tangible value-back across core product lines:

• Assured Cash Valueback: Up to ₹5,000 on Personal Loans, up to ₹1,000 on Credit Cards.
• Precious Metal Bonus: An extra 1% JioGold on lump-sum purchases of ₹2,500 and above.
• Accelerated JioPoints: 25% extra JioPoints across all eligible platform transactions.

JioFinance360: A smart report card for your financial health

Managing personal finances often involves multiple bank accounts, investments, loans, insurance policies and recurring expenses spread across different platforms. JioFinance360 on the JioFinance app brings these diverse parts of an individual’s financial profile onto a single, easy-to-understand financial health assessment platform. As an industry-first proposition, it consolidates data across multiple sources—covering both assets and liabilities—into a single personalised financial report, available to users at no cost. By combining Large Language Models (LLMs) to summarise fragmented and complex data, along with an intelligent rule-based insight engine, JioFinance360 will provide users with personalised, actionable recommendations precisely when they need them.

At the heart of the experience is a personalised Financial Health Score for every user (ranging between 0 and 100). The Financial Health Score for each user is derived by evaluating their financial fitness across five key pillars:

• Spending: Tracks cash flow dynamics by evaluating spend-to-income ratio, emergency fund buffers, and savings consistency with insights designed to highlight any surpluses, changes to spend patterns, and flag hidden charges and recurring subscriptions to stop income leakage.
• Borrowing: Stay on top of your loans by monitoring your fixed obligations per month, and credit score history trends with actionable insights to potentially boost your credit score.
• Wealth: Measures long-term wealth creation through your investment ratio and a dedicated Portfolio Quality Score, which evaluates portfolio performance, cost, and asset allocation (as per your investment preferences). Insights can help eliminate portfolio redundancies like mutual fund overlaps or even flag a dropping investment rate.
• Protection/Insurance: Evaluates insurance adequacy by calculating ideal life and health coverage needs and highlighting coverage gaps.
• Tax: Simplifies tax planning by tracking filing status and providing insights on potentially unutilised tax-saving opportunities.

Commenting on the launch, Surbhe S Sharma, Chief Executive Officer, Jio Finance Platform and Service Limited said, “The launch of JioFinance+ and JioFinance360 is a pivotal step in our mission to democratise access to intelligent finance for every Indian at scale. With JioFinance+, we are pioneering the most comprehensive membership model that shares a portion of our platform commission revenue directly with customers as value-back on each eligible transaction. This reflects our deep commitment to shared growth, fostering lasting relationships with our customers, and bringing down transaction costs for the end-customer; even as JioFinance360 enables them to get a comprehensive and granular snapshot of their financial health, and encourages them to take necessary steps to ensure their long-term economic well-being.”

What Are The Benefits Of Investing In Mid-Cap Mutual Funds?

When you think about building wealth, there are many paths you can take. From traditional savings to modern market-linked products, the choices often seem endless. Each option carries its potential, and as an investor, you are always looking for ways that balance safety with growth. Selecting the right investment depends on your financial goals, your comfort with risk, and the time you are willing to stay invested.

Over time, mid-cap mutual funds have become a preferred option for many individuals who want steady growth without taking on extreme volatility. Suppose you are considering a mutual fund investment. In that case, these funds stand out because they combine growth opportunities with a moderate level of risk, making them a valuable addition to a portfolio.

Understanding mid-cap mutual funds

Mid-cap mutual funds focus on companies that fall between the large-cap and small-cap segments based on their market value. These companies are not as established as large-cap firms, but they are more stable compared to small-cap businesses. For an investor, this means the chance to participate in companies that are still growing but already have a reasonable track record.

Why investors consider mid-cap mutual funds

When you choose to invest in mid-cap mutual funds, you gain access to several advantages that can strengthen your overall portfolio. Some of the most important benefits include:

1. Potential for growth

One of the biggest reasons people consider mid-cap mutual funds is their potential for growth. Mid-sized companies often expand their operations and enter new markets more actively than larger firms. This can translate into higher returns over the long-term. While they may not match the stability of large-cap companies, they can outperform them during favourable market conditions.

For anyone looking at mutual fund investment as a way to grow wealth steadily, mid-caps strike a balance between ambition and security.

2. Better diversification

Another key benefit of choosing mid-cap mutual funds is diversification. These funds allocate money across several mid-sized companies operating in diverse sectors. This reduces the risk of being too dependent on the performance of a single company or sector.

For you as an investor, this approach ensures that better results in one area can offset the impact of underperformance in another.

3. Balancing risk and reward

When it comes to risk, mid-cap companies usually sit between the relatively safe large-caps and the more volatile small-caps. This makes mid-cap mutual funds suitable for investors who want to take some risk but not go too far with it.

They can experience short-term ups and downs, but over time, the returns can be rewarding. This balance makes them a popular choice for investors looking to build a well-diversified mutual fund investment plan.

4. Long-term wealth creation

Mid-cap companies often evolve into tomorrow's large-cap leaders. By investing in them early, you can benefit from their journey of growth. This long-term potential makes mid-cap mutual funds a smart option for investors who are patient and willing to stay invested for several years. With discipline and consistency, such funds can play a meaningful role in building wealth over time.

5. Professional management

Another advantage is that experienced professionals manage these funds. They study market trends, company performance, and economic conditions to make informed decisions. For investors who may not have the time or expertise to track individual stocks, this professional approach to mutual fund investment adds an extra layer of confidence.

6. Accessibility and flexibility

Like other mutual funds, mid-cap mutual funds are easy to access. Investors can begin with modest contributions through Systematic Investment Plan (SIPs) or choose to invest larger sums at once. This flexibility allows you to start at your comfort level and increase your investment gradually. It also makes them suitable for both beginners and experienced investors.

7. Tax efficiency

Investments in mid-cap mutual funds also provide certain tax benefits, depending on how long you stay invested. The tax treatment for long-term gains differs from short-term gains, motivating investors to stay invested for an extended period. This aligns well with the overall nature of mid-cap investing, which works best when you give it time to deliver results.

Who should invest in mid-cap mutual funds?

For investors with medium risk tolerance and a long-term outlook, mid-cap mutual funds can be a suitable option. They suit investors seeking more growth than large-caps but with less risk than small-caps. As part of your overall mutual fund investment plan, they help strike a balance between opportunity and stability, making them a practical fit for many portfolios.

Choosing the right investment is always about aligning with your financial goals. Mid-cap mutual funds bring together growth potential, diversification, and manageable risk, which is why they appeal to many investors. Online investment platforms like Ventura offer a simple way to begin, with tools and guidance to help you take confident steps towards long-term wealth creation.

Growing Use of AI & ML Can Risk Financial Stability, Says RBI Governor

Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), recently warned about the potential financial stability risks associated with the growing use of artificial intelligence (AI) in financial services.

During the RBI@90 High-Level Conference in New Delhi, the RBI Chief highlighted several concerns. He conveyed that "Heavy reliance on Al" could lead to concentration risks, especially if a small number of technology providers dominate the market.

Failures or disruptions in Al systems could cascade across the financial sector, amplifying systemic risks. Increased use of Al could make financial systems more susceptible to cyberattacks and data breaches, Shaktikanta Das said in the RBI@90 High-Level Conference in New Delhi.

The "opacity" of Al makes it difficult to audit and explain the algorithms driving financial decisions, potentially leading to unpredictable market consequences, warned Das. 

Das urged banks to enhance their liquidity buffers and remain vigilant in the social media space to deal with any unforeseen situations. He also emphasized the need for adequate risk mitigation practices to address these emerging vulnerabilities.

It's a timely reminder of the importance of balancing innovation with risk management.

The RBI@90 High-Level Conference was held in New Delhi to mark the 90th anniversary of the Reserve Bank of India (RBI). The event featured a keynote address by RBI Governor Shaktikanta Das titled "Central Banking at Crossroads". During his speech, Governor Das discussed the evolving role of central banks amid global uncertainties and emphasized the importance of financial stability and economic growth.

The conference also included panel debates and discussions on various topics related to central banking, including the impact of emerging technologies like AI on financial systems.

Should Health Insurance Be A Part of your Financial Planning

Financial planning is very important if you want to achieve all your life goals. To make sure that you and your loved ones can enjoy retirement peacefully, you must build and manage a sound financial plan for all your savings and investments. Financial planning is a lot more than random deposits in a savings account and investments from time to time. Such investments will result in an inefficient utilization of your resources. If you want to achieve your goals, then you must come up with a proper plan.

The first thing that a proper financial plan will provide you with is a roadmap for your future plans, financial requirements and financial goals. Some of the basic items that you will include in your financial goals are ownership of your own house, your children’s education, annual vacations, etc.

Another important aspect of a sound financial plan is a contingency or backup plan that will provide you with the necessary funds if you are under any critical circumstances. This will involve asset allocation, expense budgeting, goal evaluation, etc. Here are the basic steps involved in making financial plans.

1. Define and evaluate your financial goals: The objective of financial planning is to help you achieve all the financial goals that you have in mind. After you are done listing out your goals, you should categorize them under short-term, mid-term and long-term goals. Make sure that all your financial goals are SMART - Specific, Measurable, Attainable, Realistic and Time-Bound.
2. Start by outlining a budget: You need to draw up an itemized list of your future income and the foreseeable expenses that you’ll have to incur. By drawing up a budget, you will be able to keep all your expenses in check and manage your debts properly.
3. Keep money aside for emergencies: It is an undeniable fact that even the best planners cannot foresee every possible situation. To make sure that you are not caught unprepared, you have to come up with a proper backup plan. One of the most important elements of a backup plan is a reserve fund that is set aside for contingencies.
4. Proper asset allocation: You must remember that proper asset allocation is the backbone of a sound financial plan. By investing in the proper channels and creating a diversified portfolio, you will be able to achieve all your financial goals within the time horizon that you have in mind. You should structure your asset allocation in a proper way.
5. Review your financial plan regularly: Your financial plan should not be inflexible. Draw it up in such a way that you can make modifications according to the present situation. The best way to keep track of such situations is to review the progress and success of your plan regularly. Weeding out bad investments is a highly important task.

The importance of health insurance

Every single person in the world has to fall prey to unforeseen circumstances - sudden familial deaths, sudden business downturns, legal cases, health complications, etc. It is very important to be insured as you never know what circumstances are waiting for you around the corner. Since medical expenses are going to be very expensive, you need to invest in a comprehensive health insurance policy so that you can receive proper coverage in case you have to be hospitalized. That’s why health insurance is so important.

According to a survey conducted by Livemint in late 2018, around 56% of India’s population have not invested in any sort of health or medical insurance policies at all. The survey went on to discover that more than 75% of this population are not covered in a proper and comprehensive manner. Since such a large number of people decide to skimp on health insurance, they all have to incur out-of-pocket expenses when the worst does occur. It’s extremely important to remember that not being properly covered is just as bad, if not worse, than not having insurance at all.

Investments or insurance?

Although investments are such an important element of financial plans, insurance is just as important. If you want to lead a full and financially secure life where you and your loved ones are well-cared for, then you need to get started on coming up with a sound financial plan. The best way to do this is to allocate a sizable chunk of your assets to investments and an equally sizable chunk to sound insurance policies. The most important insurance policy of all is health insurance, which will protect you and your family in the event of hospitalization or medical emergencies.

If you want to make sure that you and your loved ones will be cared for in the event of a medical emergency, then you will need to invest in a proper health insurance policy. Especially in the situation of the coronavirus pandemic, you should look into coronavirus protection plans like the Corona Kavach policy.

If you purchase a proper health insurance coverage plan for your family, here are some of the basic and standard cost coverage that you should expect from your healthcare provider.

1. Hospitalization Charges before-and-after: Pre and post-hospitalization period of your treatment is highly important. You have to choose a plan that successfully offers it.
2. Cash Benefit: Your insurance should provide you with a lump sum of money every day as compensation for your loss of income.
3. In-Patient Expenses: Your health insurance policy will make sure you are covered during your hospital stay, including coverage for ICU charges and PPE kits.

So now you know why financial planning is so important - and also the main reasons why you should devote a lot of attention and resources to proper health insurance for yourself and your family.

PNB Looks to Tap Market in Q3 of FY21; May Raise Capital via Bond, FPO, Rights Issue

With the successful merger of Oriental Bank of Commerce and United Bank of India with itself, Punjab National Bank has started focussing on growth and planned a series of capital raising initiatives, including rights issue and FPO, in the third quarter this fiscal.

At the moment, the bank is adequately capitalised with the capital adequacy ratio of 14.04 per cent at the end of December 2019, PNB Managing Director S S Mallikarjuna Rao told PTI.

The government provided Rs 16,091 crore to PNB and Rs 1,666 crore to United Bank of India in September for enhancing the capital base of these two lenders.

Besides, Punjab National Bank (PNB) raised Rs 1,500 crore from Tier II bonds in December.

Going forward, Rao said, the bank plans to further infuse capital during the current fiscal including through follow-on public offer (FPO).

Sharing details of the capital raising plan, Rao said the bank is looking to raise Rs 3,000 crore through additional Tier-I (AT-1) bonds in the next couple of months.

"The board of the bank has already given approval and now we are contemplating approval from the government of India," he said, adding the bank is preparing to raise AT-1 bonds during the first quarter itself, depending on how quickly normalcy is restored.

Under the Basel-III norms, AT-1 bonds come with loss absorbency features, meaning that in case of stress, banks can write off such investments or convert them into common equity if approved by the RBI.

AT-1 bonds, which qualify as core or equity capital, are one of the means of raising capital by banks.

In the third quarter of the current fiscal, Rao said, "we are planning to go to the market either of QIP or follow on public offer or for the rights issue".

Talking about the merger, Rao said, the highest priority is to provide uninterrupted customer service to account holders of the merged entity even in these challenging times.

"Due to lockdown triggered by the outbreak of coronavirus, the only difference is that we wanted to change the branding and have physical meetings with customers as well as employees which has now been postponed. From the customer point of view it is business as usual," he said.

Once the lockdown is lifted, he said, the bank will enhance its customer outreach through various communications.

With the merger of Oriental Bank of Commerce and United Bank of India on April 1, PNB has become the second largest lender after State Bank of India with total business of over Rs 18 lakh crore. It now has over 11,400 branches and employee strength of about 1 lakh.

On synergy, he said, with the gain in size, the bank will have greater appetite to satisfy the requirement of corporate clientele.

Technology upgradation and larger presence across geography will be the other benefits of the merger, which the bank will reap in the future, he added. PTI DP

Coronavirus Pushes Zimbabwe to Re-Introduce Use of US Dollar

Zimbabwe has re-introduced the use of foreign currency for domestic transactions in what was seen as a bid to tap into private forex savings as the country gears up for the battle against the novel coronavirus.

In a statement the central bank governor John Mangudya said the move is part of "measures to mitigate the devastating impact of COVID-19 on the Zimbabwean society and the economy".

The government outlawed the use of foreign currency as legal tender last June after having used a basket of currencies when hyperinflation forced the government to ditch the Zimbabwe dollar in 2009.

The US dollar became the main currency for payment of goods and services, but a shortage of greenbacks forced the government to introduced a quasi currency called the bond note which was supposed to be equal to the US dollar in 2016.

In February 2019 Zimbabwe launched currency reforms including reintroducing the local currency and banned the use of the US dollar in a bid to solve a monetary crisis.

The use of the Zimbabwe dollar as the sole legal tender led to a spike of inflation which now stands at 540 per cent.

The government said it was "making it easier for the transacting public to conduct business during this difficult period by making available an option to use free funds to pay for goods and services chargeable in local currency".

But labour economist Godfrey Kanyenze says Thursday's move was inevitable and the government has used the coronavirus pandemic as an excuse to try to stabilise the economy.

"We held a tripartite negotiation forum meeting with the government some two weeks ago, and business and labour agreed the Zimbabwe dollar was doomed. The government tacitly agreed," he told AFP.

While the statement suggests the legalisation of the use of foreign currency was temporary, Kanyenze said he believed the measure would stay in place long term. (AFP)

Flexible Investments: 7 Reasons Why ULIPs Are Worth Your Consideration

Unit linked insurance policies (ULIPs) are life insurance policies that double as investment tools. Each month, part of your premium payment is put aside as an investment fund. This sum is then invested in equity or debt, depending on your personal preference, generating returns on your investment and allowing your life insurance policy to double as a savings tool.

Here we break down seven reasons why ULIPs should be part of your wealth investment plan. Whether you are saving for retirement, building a rainy-day fund, or putting money aside for your child’s university education, a ULIP can help you achieve your financial goals and should be worth your consideration.

1.   ULIPS have a Dual Function

ULIPs offer the opportunity to save and secure life insurance within the same monthly premium. Other savings tools offer returns on investment but do not offer life insurance policies that can provide financial security for your loved ones in the event of your death.

2.   You have the flexibility to choose the life cover you need

Within ULIP, you have the capacity to select the precise life insurance you need. Most ULIPs set the minimum coverage to 10 times your annual premium. However, if you need additional coverage, you can purchase coverage for up to 40 times your annual premium or higher.

3.   The premium is tax-deductible

Under u/s 80C of the Income Tax Act, your premiums are deductible from your annual taxable income. There are limits (the current limit is Rs. 1.5 lacs), and your premium cannot be higher than 10% of the sum guaranteed under your life insurance policy, but this can significantly increase the rate of return.

4.     Offers investment options for everybody

Whatever your financial goals, ULIPs offer an investment option that can meet your needs. For those approaching retirement who require lower-risk investment options, you can invest in debt funds. Younger investors may prefer something with more risk, like balanced funds or equity funds.

5.   There is a liquidity option for emergencies

ULIPs offer a liquidity option for those that need to access their assets in the event of a financial emergency. Partial withdrawal+ clauses allow the policyholder to withdraw some of the some of the money invested in the policy free from penalty charges or fees.

6.   Tax-free withdrawals

If the policyholder dies or the policy matures, the benefit is paid out tax-free. This offers significant tax advantages over mutual funds, on which returns are taxed as annual income.

7.   You can top up your premiums

If your ULIP is performing particularly well, you can make supplementary payments to top up the premium. These voluntary extra payments offer more flexibility than taking out another ULIP plan because if your financial circumstances change, you can stop making the payments without incurring a penalty.

These seven advantages of ULIPs make ULIPs a valuable investment tool for anyone looking to enjoy the benefits of market-linked investments with all of the safety and security of a life insurance policy. They offer all of the rewards, with an extra safety net. 

The 2020 Checklist: What Should Be Your Top 5 Priorities as a New Parent?

Becoming a parent is a big deal that involves a new set of responsibilities. Wanting to provide for your children is a natural instinct. Although you can’t protect kids from everything, a term plan does a good job of standing in when you’re gone. For 2020, now is a good time to start a priority checklist as a new parent. 

5. Setting The Right Standards

Parents are role models that lead by example. Words have meaning, and actions have consequences. Showing financial responsibility with a tax savings investment qualifies as setting a standard. For the parent, it shows that they have the future in mind. For a child that reaches adulthood, it proves that forward thinking is always in the best interest of the family. Every generation benefits from setting a standard and sticking to its principles. 

4. It Takes A Village

Positive role models need to exist outside of the home environment. Most of life’s important lessons are learned away from home. As infants grow up, they will gravitate towards adults that they respect the most. These figures need to be just as strong as the parents, with similar standards or values. Consider this the consistency check that every kid goes through. There will be problems that are outside of your view as they happen. For the correct leadership, a village is required to steer your child in the right direction. 

3. Are You An Involved Parent?

Insurance is a big deal for a new parent. When your child reaches a certain age, telling them that they have insurance is not the same as educating them about the benefits. The seed you plant at a young age may spur a self-interest in more responsible habits. Explain to your child about why you opted for insurance, along with the many pros and cons. There are some things that children are better off figuring out on their own. Learning about why insurance is important is not one of them. 

2. Show Support When Needed

Getting information about a product or service is easy. The internet has made an unlimited amount of data available to children and adults of all ages. When you steer your child in a certain direction, they will form their own opinions over time. Your preference for a savings investment plan may be different than what they decide on at an older age. If your child is showing an interest in a mature subject, make sure to support and celebrate their adaptability. 

1. Patience

It can be frustrating when someone doesn’t take their future seriously. When you’ve laid down the foundation that shapes their future, carelessness is a hard pill to swallow. Be patient with a child and allow them to accept responsibility naturally. Everyone reaches their goal at a different pace, but the important part is getting them there. 

Wrap Up

At first, this seems like a lot of new responsibilities rolled into one. Children depend on their parents to manage the unpredictable portions of life. Being an understanding provider is a small part of a much larger job. 

Soon Unlisted Cos might Required to Submit Financial Statements on Quarterly or Half-Yearly Basis

Unlisted companies might soon be required to submit their financial statements to the government on a quarterly or half-yearly basis, according to an official.

There are more than 11 lakh unlisted companies that are active in the country and the proposal also assumes significance against the backdrop of instances of financial woes at some large unlisted entities.

The corporate affairs ministry is looking at introducing provisions in the companies law that would require unlisted firms to furnish financial statements every three months or six months. The aim is to have updated financial details about systemically-important companies that are not listed, the official told PTI.

Listed companies are required to disclose their financials every three months under Sebi regulations. In the case of unlisted companies, they are currently not required to furnish financial statements on a quarterly or half-yearly basis.

The official said there would be thresholds for deciding which categories of unlisted companies would have to submit their financial statements on a quarterly or half-yearly basis.

To bring this into effect, amendments would be required in the Companies Act.

Currently, an unlisted company can submit its financial statement and annual returns to the ministry at least six months after completion of a fiscal. After the end of a financial year, a company has to hold its Annual General Meeting (AGM) within six months and the financial statement has to be submitted within 30 days of the meeting.

Within 60 days of the AGM, the company is required to furnish the annual returns.

Under the current system, the ministry would not be updated in case there are any significant financial issues during the course of a financial year, as per the official.

In case the ministry decides to bring in quarterly or half-yearly financial statements reporting requirement for unlisted firms, then the Companies Act, 2013 would have to be amended, the official added.

The ministry is implementing the Act and companies are registered under it.

What Makes a Fixed Deposit a Safe Investment Option?

In the life of every investor, a period of investment analysis comes every year. It is when he wants to look into the investments he made, the returns earned, and how he can diversify his investment portfolio. As an investor, you want to ensure you gain more and worry less about the risk related to various investment instruments. Undoubtedly, a stressful challenge you face while building an investment plan is to identify instruments where you can invest.

Indeed, your investment decisions must be aligned with your needs and goals. However, Fixed Deposit or FD is one of those few instruments that can become a part of every investment portfolio. It has stood the tests of time to work as one of the smartest choices for all investors.  

Here are a few reasons that make FD investments a safe bet aligned to your future goals:

 

It’s Risk-free

 

The first thought that comes to mind when you invest money is – ‘Will my money stay safe in this investment option?’ 

If you can’t afford to bear the risk of money loss with your investment decisions, you won’t prefer investing in high-risk instruments such as equities and mutual funds. However, investing in an FD is the safest option that you can choose to park your money with a reputable bank. The corpus you set aside in a fixed deposit will stay safe over the chosen tenure, and you will get an assured benefit afterwards. Plus, you can check the safety of this financial product in terms of CRISIL ratings, the highest being FAAA (F Triple-A). 

If you are a beginner investor, having an FD in your portfolio will help you balance out the overall risk factor.

 

It Gives Assured Returns

 

Ask your peers or parents about investing in an FD, and the first thing you will hear about it is the related returns. Take the case of fixed Deposits in a bank with CRISIL rating of FAAA/Negative. You can get more than eight percent annual returns of the amount you invest. 

Unlike other investment products whose returns are highly dependent on market volatility, an FD can give you fixed monetary benefits. Knowing that you will gain some extra income at the end of your FD’s tenure, you can plan your life goals with it. For instance, you can invest a specific amount in an FD with a monthly payout option to get returns in the form of a regular monthly income in your retirement life. 

 

It Comes with the Flexibility to Choose Tenure

 

Next to the returns you get with an investment, you also want to know for how long you need to set the corpus aside. This is important for you as you may not be able to get the total invested money back whenever you need it. 

Another significant benefit of investing in FD is that you enjoy the flexibility to choose its tenure, which varies from seven days to a few years. You can put your money in a short-term deposit for seven days and get it back on the eighth day with the earned returns. On the other hand, you can opt for cumulative fixed deposit for ten years wherein your money will keep on reinvesting every year. You will get you compounded interest at the end of your FD’s tenure. 

 

It Can Give You Tax-Benefits

 

As an investor, you can claim tax deductions for the money you invest in tax saver fixed deposits as per Section 80C of the Income Tax Act. These FDs have a lock-in period of five years, and you can earn interest on your investments at the rate varying from 5.5% to 7.75%. Also, the interest you earn in this type of FDs is taxable.

You will get more returns by investing your money in an FD than keeping it in a bank’s savings account. If you have a lower risk appetite and assured returns on your investments, start investing in FDs. 

Manage your Money from your phone with Pocketbook

Managing accounts has nowadays become a tedious job altogether. Professional helps costs a fortune and the software available in the markets are too clumsy and hard to use.  People out of tension and frustration start using print-outs and spreadsheets to regulate their finances and often as a result of all this, they end up losing the sight of their money altogether. But with Pocketbook, you can leave all your accounts trouble behind.

Pocketbook is a free mobile application that takes the pain out of managing money. It lets you see all your financial transactions at one place. It even makes you stay on the top of your bills. The app minimizes bank fees and late payment penalties. It even keeps a track of your budget and saving goals for you.

The app is currently available for iOS and Android. It is available free of cost on both the platforms.

Pocketbook was founded in 2012 by Alvin Singh from Sydney, Australia.  Alvin is an experienced software engineer who just hated doing his finances and this prompted him to come up with Pocketbook. Bosco, his friend for 18 years is also his business partner. Bosco just loves business development and marketing.

Together they both have over 15 years of experience in the startup and corporate world. Bosco and Alvin have an aim of changing the way in which people mange their personal spending today.

According to Pocketbook, security tops their priority list. They have bank level security and make use of SSL encryption. They have also partnered with CloudFlare which is considered the best security in the industry. CloudFlare protects your Pocketbook from viruses, attacks and threats.



With Pocketbook, the user can only analyze and organize their finances. It is a read-only service which means no money is moved in or out of any account. The bank details are stored in an encrypted way which means no one can see the user’s bank details, not even the user himself.

Pocketbook is different from other banking apps as it not only lets the user to keep a track of his or her money but also lets them manage it.  It can easily sync with a large number of banks and thus lets you see the net balance of all your funds. The app also has a safely spend feature through which you can set a specific amount that you can safely spend on a daily or weekly basis.

Manage your Money from your phone with Pocketbook

Managing accounts has nowadays become a tedious job altogether. Professional helps costs a fortune and the software available in the markets are too clumsy and hard to use.  People out of tension and frustration start using print-outs and spreadsheets to regulate their finances and often as a result of all this, they end up losing the sight of their money altogether. But with Pocketbook, you can leave all your accounts trouble behind.

Pocketbook is a free mobile application that takes the pain out of managing money. It lets you see all your financial transactions at one place. It even makes you stay on the top of your bills. The app minimizes bank fees and late payment penalties. It even keeps a track of your budget and saving goals for you.

The app is currently available for iOS and Android. It is available free of cost on both the platforms.

Pocketbook was founded in 2012 by Alvin Singh from Sydney, Australia.  Alvin is an experienced software engineer who just hated doing his finances and this prompted him to come up with Pocketbook. Bosco, his friend for 18 years is also his business partner. Bosco just loves business development and marketing.

Together they both have over 15 years of experience in the startup and corporate world. Bosco and Alvin have an aim of changing the way in which people mange their personal spending today.

According to Pocketbook, security tops their priority list. They have bank level security and make use of SSL encryption. They have also partnered with CloudFlare which is considered the best security in the industry. CloudFlare protects your Pocketbook from viruses, attacks and threats.



With Pocketbook, the user can only analyze and organize their finances. It is a read-only service which means no money is moved in or out of any account. The bank details are stored in an encrypted way which means no one can see the user’s bank details, not even the user himself.

Pocketbook is different from other banking apps as it not only lets the user to keep a track of his or her money but also lets them manage it.  It can easily sync with a large number of banks and thus lets you see the net balance of all your funds. The app also has a safely spend feature through which you can set a specific amount that you can safely spend on a daily or weekly basis.