How women can step up and take charge of their finances?

For decades, the assumed image of an Indian woman has been that of a saree-clad, bindi-laden, timid individual who is supposed to shy away from any responsibilities other than those of the household and the family. As times change, this image is anything but laughable to associate with the modern Indian woman. 

Today, women in India struggle equally to have a good work-life balance, as their male counterparts. Be it the boardroom, a fighter jet, or even as the lead of a space mission, they have very much been there and done that. But then the question arises, why do most women let men take charge of their finances? Why do a lot of them allow men to be the decision-makers of money matters? Let’s probe into these questions and try to address the growing need for women to control their financial matters.


Tax saving for senior citizens

Tax saving options suitable for senior citizens

India is a relatively young country but has a significant senior citizen population. Any person over the age of 60 years is termed as a senior citizen in India. The Government of India provides many incentives for the benefit of the senior citizens of the country in terms of health care, tax benefits, etc. There are many schemes that are centered to provide not only a retirement fund at the time of old age but also provide tax benefits to the senior citizens. 

Given below are a few popular choices for tax-saving schemes that can be used by senior citizens to not only build a corpus fund but also save some taxes along the way. (more…)

Tax saving

Best tax saving options for 2020-21

India has two types of tax structure – direct taxes and indirect taxes. While indirect taxes are collected through various products and services, direct taxes are charged on the taxable income of the eligible taxpayers. Taxes are essential for the progress of any state but tax-payers have the option of investing in tax-saving schemes to reduce their tax outgo. These tax savings provide a dual benefit i.e. tax-saving and building an investment portfolio.

As we approach the fag end of this Financial year (2020-21), we bring to you 10 tax savings schemes that you could consider if you haven’t done your investments yet. 

Best tax saving options for FY 2020-21


6 top tips to improve your Credit Score

A credit score is a three-digit number that lenders use to determine the likelihood of being repaid on time while granting a loan or a credit card. This important financial factor can affect how much and how frequently you can borrow. The higher your score, the better your chances of qualifying for loans at favourable terms. The same goes for credit cards. 

Banks and other credit issuers do not easily lend loans to individuals with a low credit score because they see a higher risk of default in such cases. If you can get a card or a loan despite having a low credit score, then chances are that your credit limit will be low or you may have to shell out higher interest rates. To prevent this, it is advisable to aim for a higher credit score. In this blog, we will explain credit scores along with smart tips to improve your credit score.


Insurance covers

Top 5 Insurance covers needed in every person’s kitty

Insurance is a word that is often heard when talked about investment. It can be best explained as a safety net or a blessing at the time of crises. A majority of people consider insurance just from the point of view of a tax-saving instrument and mostly buy life insurance. However, there are many types of insurance covers that are quite essential for a person to have. While life insurance can provide a safe future for the family of the deceased if he/she was the sole breadwinner, other types of covers like health insurance or vehicle insurance will help in the event of a medical emergency or an accident. 

Insurance is often considered to be unnecessary, especially by young people in their 20s. They usually think of it as a waste of money and rather prefer spending on high-risk high-return investments like stocks, futures, and options, etc. However, according to a majority of experts, 20s are the best time to get an insurance cover as the cover value can be high and the premiums for them will be quite low. Moreover, these plans do not require an agent to be the middleman between the insurer and the person insured anymore as they can easily be bought online depending on a person’s needs.

Here are the top 5 insurance covers that are essential for a person to have in today’s day and age.  (more…)

Financial mistakes to avoid in 2021

5 financial mistakes you should avoid in 2021

COVID-19 has driven a lot of importance towards health and wellness. While you might be paying attention to building your immunity and health, are you paying the same amount of attention to your financial wellbeing? After all, your financial wellbeing may have a big part to play in your overall wellbeing and state of mind, right?

Financial success is something everyone should aspire for. But there might be some pitfalls on your way to success that could cost you heavily. 

We bring you 5 financial mistakes that you should avoid in 2021. 


Union Budget 2021

Union Budget 2021: Top 10 highlights you need to know

The Finance Minister, Ms. Nirmala Sitharaman announced the Union Budget for the next financial year yesterday. There were no changes in the tax rates/slabs but some changes have been made to make tax compliance easier. The focus on self-reliance and increased spending on healthcare are some positives that look at taking the economy ahead. 

Here are some of the significant announcements that you need to know. 


Save Tax and Grow Wealth with ELSS

Those who pay the taxes will be familiar with this product called Equity-Linked saving schemes. If you are the person who is looking to save and invest to save the tax, ELSS could turn out to the best rewarding investment option. The ELSS funds have been superior to the other tax saving investment options.

If you invest in certain products like a life insurance policy, Public Provident Funds, or units of an ELSS scheme, you can get a tax deduction on your taxable income. Thus, ELSS is a type of Mutual Fund which has a lock-in period of 3 years along with the tax exemption under section 80C of the Income Tax Act.

How is ELSS better than other tax-saving instruments?

Here is a comparison of ELSS with other tax-saving investment options.

  • Lock-in period: ELSS has a minimum lock-in period of 3 years when compared with the other tax-saving instruments.
Instruments Lock-in period
ELSS 3 years
FD 5 years
NSC 5 years
PPF 15 years
NPS Till retirement


  • Returns: ELSS have the potential to generate good returns when compared with other instruments.
Instruments Returns earned
ELSS 15-18%
FD 6-8%
NSC 7-10%
PPF 8-10%
NPS 9-11%


  • Taxation: Like all other tax saving instruments, the amount invested in ELSS is tax-deductible under section 80C of the Income Tax Act and allows a maximum deduction of Rs 1,50,000. Unlike other tax-saving instruments, the returns generated through investment in ELSS and NPS are partially taxable and are not fully taxable. Capital gains on ELSS up to 1 lakh is exempted from tax.
  • SIP option: In a few tax-saving instruments like FD and NSC, only a lump sum amount is acceptable. Whereas you can invest in ELSS through SIP(Systematic Investment Plan) which allows you to deposit a small amount at regular intervals (weekly, monthly, quarterly, yearly) which can be as low as Rs 500.
  • Risk: ELSS will involve a higher amount of risk when compared with the other instruments because they are Equities are subjected to market fluctuations.
Now that you know ELSS is better than other tax saving instruments and start investing through Finity.

Life & Lifestyle Lessons from The Ultra-Successful

The super-rich and super-successful are so for a reason. “Habits make the man” is an age-old proverb which only goes to reiterate the fact that you are a function of your habits. Successful people have a few common traits and habits which have played a major role in their success.

These four super-successful humans have discovered different keys to success. Here’s what we can learn from them while we continue working towards the success we aspire for.

Warren Buffer, Chairman & CEO of Berkshire  Hathaway | Net Worth: $76.3 billion

Key lessons: First invest from whatever you earn and plan your expenses with whatever’s left

Fun Facts:

  • Warren Buffet lives in modest home he had bought almost 60 years back.
  • He still uses his retro Nokia flip-phone and has no internet to upgrade soon.
  • He stays away from rich folks’ toys like luxury cars & yachts.
  • Warren bought his first stock when he was 11 years old and still regrets for not having started sooner.


mark zukerberg

Mark Zuckerberg, CEO of Facebook I Net Worth $ 54.9 billion

Key Lesson: Your focus on spending will haze your vision for success.

Fun Facts:

  • Mark prefers to wear simple T-shirts and jeans to avoid unnecessary distractions and unproductive use of time.
  • He drives a $30,000 Volkswagen hatchback, which is also pretty efficient in mileage and maintenance.
  • He believes in close-knit rejoice instead of lavish parties


carlos slim

Carlos Slim: Mexican Business Tycoon I Net Worth: $ 49.0 billion

Key Lesson: Live a simple yet fulfilling lifestyle.

Fun Facts:

  • Carlos lives in the same house since 40 years. He does own other real estates but has no intentions to shift.
  • Carlos does not spend on luxury vehicles and gadgets. He drives himself to work, every single day.
  • Carlos loves to indulge in home-cooked meals with his family.


Azib premji

Azim Premji, Chairman of Wipro Ltd I Net Worth: $ 6.1 billion

Key Lesson: Value utility over cost and focus on getting things done.

Fun Facts:

  • Azim Premji drove modest cars like Ford’s escort and Toyota Corolla before upgrading to a used Mercedes.
  • He flies economy and prefers modest hotels over luxury ones.
  • He does not mind walking his way or taking an autorickshaw to nearby places.

Let’s learn from the best to be the best. Start planning your finance now.

loan against mutual fund

Loan Against Mutual Fund

“Vision without execution is daydreaming.”
-Bill Gates

Financial crises can occur at any time. Loans are handy and are the first option most of them opt for. So today we would look into one the topic: -Which is the better option between loans against mutual fund and a personal loan? The answer is a loan against mutual funds because it allows you to borrow by putting your mutual fund investment as collateral with the bank. And since an asset class backs the loan, the interest rates are usually lower than the personal loan. You cannot redeem the mutual fund units as long as they are pledged with the bank but can redeem if you default.

Each bank offers a loan against mutual fund as per the list of approved mutual funds. It’s the agreement that banks own, on sale and hold your investments. The banks have all rights to sell your funds in case of default or non-payment of the loan amount.