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  • Rupee vs. Dollar

    Latest Finance News
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    A weaker rupee means India needs to export more in the global market. But it may increase import costs and inflation, which ultimately benefits the exporters and other sectors. This is a short-term dip, and this is not going to impact the economy of India. The economy depends on various other factors like agriculture, industries, service sectors, foreign trade, and many more.

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    Thanks for the reply. I already filled the complaint; hopefully, I will get rid of this issue very soon.

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    If you are aggressive investors and can tolerate the risk factor, then only invest in thematic or sectoral funds. Investing in both funds is quite risky. Additionally, these funds offer limited options for diversification. If you want to diversify your portfolio, then choose other funds.

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    Before applying for a personal loan, you should consider the following factors:

    Interest rates at different banks. Loan processing time. Documents required. Loan repayment options. Any additional fees.

    Almost all the banks provide a 10% to 24% interest rate on personal loans. 
    Public sector banks (SBI, PNB) offer 10% to 12.95% interest rates.
    Private banks (HDFC, Axis Banks) offer 10.85% to 24% interest rates.

    Your monthly EMI depends on how much loan you are taking and in how much time you will repaying your loan. 
    If you plan to repay your loan within a short duration, such as within 1-2 years, then a fixed interest rate could be a good option for you.
    But if it takes you more than two years to repay your loan, then opt for floating. interest rate.

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    There is no correlation between the title of your question and its content. To learn about any credit card offers, please refer to this post:
    https://fincuss.com/topic/46/any-offer-on-hdfc-credit-card/2

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  • Which bank should I choose?

    Loans
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  • Canara Bank FD

    Fixed Deposit
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    There is 1% penalty on the applicable interest rate for early withdrawal of FD below ₹3 crore. Basically, the penalty amount depends on the deposit duration and withdrawal terms.

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    With the increase in the repo rate, there will eventually be an increase in T-bill yields. With this, investors get higher returns on investments. So its very important to consider the general economic situation and future interest rates in the coming years. The interest rate will continue to rise in the future. So locking in your investment is a good move.

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    The bitcoin exchange is definitely going to face the challenges with the change in the legal framework. These platforms must navigate through stringent tax laws, safety regulations, and potential restrictions on the legality of their operations. The policies of the government and the clarity of laws will decide the fate of crypto in India.

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    The National Payments Corporation of India (NPCI) guards your data to be stolen as NPCI implements robust security standards to ensure the safety of digital transactions, by providing three-factor authentication, encrypted transactions, and access control, which makes it safe for use. So you can simply use the BHIM app to pay your bills.

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    A valid ID proof, such as an Aadhar card, and two passport-size photographs are required. Other than PNB, you can think about SBI or Axis Bank, as both banks provide extra advantages for the students, like low MAB requirements, free debit cards, access to internet banking, and many more.

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    There are some popular options like Zerodha and Upstox that have lower broker fees. There are some banks like ICICI or HDFC, also have facility of an integrated account but have higher charges. So research properly according to your investment goals and budget and then choose.

  • Not getting the SMS OTP verification.

    UPI
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    Thanks for your reply. I recently updated my phone number with the bank, something I hadn't done before. Now it's working fine, and I got the OTP successfully.

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    If you don't need cash immediately, then it's better to put all the money in mutual funds. Trust me, it's a wise decision. For stable and steady growth, you could consider a balanced fund or a large-cap fund. The risk factor is very low in these types of mutual funds. 
    If you want flexibility, you can transfer this money to your savings account to earn the interest, or you could just put in a short-term fixed deposit.

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    Yes, HDFC charges some fees if you choose the auto sweep services. Additionally, HDFC charges fees for early withdrawals from fixed deposits. The threshold amount is entirely dependent on your spending and saving habits. Many set it at ₹25,000–₹50,000, hence just the additional money gets cleaned.

    Regarding the hidden charges, it's advisable to consult with bank officials to gain further clarity on whether to choose this service or not.