Top Tips to Consider for Receiving High Returns on Fixed Deposits

Investing in higher return yielding securities may involve a lot of risks. Various financial instruments like mutual funds, stocks, bonds, etc. are among the available alternatives. But all these instruments do not have the much-assured stability that a fixed deposit offers. A fixed deposit is a form of term-based investment wherein a specified amount is invested for a defined period. The FD rates for these schemes are higher in comparison to a savings bank account and do not involve any risk.

The fixed deposit eligibility enables most people, including corporate entities to have a secure and stable investment of their principal amount. There are a plethora of investment choices when it comes to fixed deposits. Not limited to banks, non-banking finance companies (NBFCs) are also authorised to accept fixed deposits. Listed below are some tips that can help you maximise your investment in fixed deposits.

#1 Comparison is the key

With NBFCs authorised to accept deposits, fixed deposits need not be purchased from banks only. Moreover, you have the option to choose one with the highest fixed deposit interest rates. But you should remember that FD rates should not be the sole determinant of your purchase decision. Other factors like credibility also come into the picture to support your investment. For instance, Mahindra Finance fixed deposits with its FAAA credit rating by CRISIL is one of the leading NBFCs with strong credibility. At the time of shortlisting, make sure to look for the financial institution that pays not only a high interest rate but also has a higher credit rating.

#2 Bifurcate your investment

Bifurcation of your investment helps to have liquidity and still earn high returns. This can be done by breaking down the entire investment amount into equal parts and then investing each part for a different tenure. Moreover, you need not invest all of your hard-earned savings in one financial institution but can also leverage among the riskier ones with a higher interest rate. Further, anytime you require money, you need not break the entire deposit but only withdraw some portion and avoid penalties on all such investments.

#3 Investment in multiple FDs

Continuing the above point of bifurcating the investment, interest for an FD changes based on the tenure and also the amount of investment. So, investment in multiple fixed deposits can help to maximise the returns as well as not require you to compromise on future liquidity needs. Moreover, the FD rates are revised periodically. This way, investing for different tenure can also help to take advantage of these changing fixed deposit interest rates.

#4 Reinvest your interest

Reinvesting your interest earned can help you earn a higher amount at the next maturity. This has a compounding effect wherein you earn on your already earned amount from the previous tenure. This results in a much higher maturity amount.

Remember the above tips can help you gain higher returns. There is no better choice than a fixed deposit to earn competitive returns with almost no risk for the investment.


The YooMoney Mastercard

What is YooMoney? your money, formerly known as Yandex Money, is one of Russia’s leading electronic payment services. It can work with personal or individual clients along with traders, merchants, and so on.

YooMoney offers a variety of different card options that are:

  • A physical Yoomoney Mastercard 
  • For a limited amount of time, a gamer specific virtual or physical Mastercard inspired by the famous video game: Cyberpunk 2077
  • A virtual card that is free of charge and is issued instantly

Each card comes with its own special offers and bonuses, thus a wide variety of people can find satisfaction depending on their needs.

Although YooMoney only physically supports Mastercards, they definitely make it worth your while!

Aside from the very affordable price of 199 ₽  for every 3 years, it comes with very intriguing cashback bonuses when shopping, some of which include:

  • Up to 7% from AliExpress
  • Up to 6.76% from Yandex Market for electronics, clothing, and more
  • Up to 2.5% from M Video for electronics and equipment
  • Up to 10% from for equipment, clothes, and more, along with special discounts when paying a specific price
  • Up to 7.82% from Finn Flare for clothes
  • Up to 10% from Gloria Jeans for clothes
  • Up to 7.69% from Zenden for both children and adult shoe wear
  • Up to 8% from Mothercare for children’s goods
  • Up to 2100 ₽ from Skyeng for English courses
  • Up to 10% from PG Bonus for home and personal care products along with participation in the raffle
  • Up to 10% from Sokolov for jewelry 
  • And much more!

Along with all that has been already stated, the YooMoney Mastercard brings along discounts from different high-end brands such as Maxidom, Allsoft,, and many others! Not to mention, it offers different promotions from PlayStation and Xbox, thus fitting even for gamers!

Overall, the YooMoney physical Mastercard brings many cashback bonuses and general discounts making it an ideal fit for individuals, gamers, or families in general.

The YooMoney Cyberpunk card

This card is specifically designed for the gamers that dream about making it to the professional competitive stage. It comes with various targets, commonly known as tasks or missions, that can be accomplished by passing a certain feat in the game and thus the players are rewarded accordingly. Some of the rewards include:

  • Cyberpunk themed Xbox one X
  • Xbox series X
  • Dell Alienware gaming laptops
  • Cyberpunk themed MSI NVIDIA GeForce gaming graphics cards
  • Cyberpunk themed gaming chairs
  • And many more rewards ranging from Gadgets and collectibles,  all the way to promotional codes.

In conclusion, having all these intriguing bonuses makes the YooMoney Mastercard a very strong competitor in the bank industry and it is no surprise that many people would want to have an account if they don’t have one already.


Why Should You Rely on Your Accountant?

Just about everyone is aware of the importance and versatility of money in the world, but not everyone is aware on how to work with it in a quick and efficient manner. Some people get hung up on trying to manage money on a business scale, while other people might struggle with their taxes. No matter what area of finances you might be struggling with, you can feel confident in knowing that there will be accountants out there who will be more than happy to help you out.

What Do Accountants Do?

As the name might suggest, your local accountants in Ilford are going to be the best professionals to get in contact with if you want to make sure that your finances are in the right places at the right times. Accountants can typically offer more than a few services, including the following areas:

  • Working with you and your family or business on taxes, tax returns, and tax preparation
  • Informing you, your family, or your business on the best ways to work with taxes and offering tax advice
  • Making sure that your business has its finances in the most appropriate places, adjusting as needed
  • Ultimately making sure that you are getting the most out of your money

By choosing to rely on a team of accountants to get the job done, you can rest assured knowing that your money is going to be in all the right places at all the right times, leaving you with more time and resources to focus on other matters in life.

Finding the Right Accountant for You

As you begin to look for an accountant, you are going to want to make sure that you are looking for one who caters to all of your needs. This includes making sure your accountant focuses on family or personal finances for your own needs, or focuses on finances at a business level if you are working with a small business instead.




How can the accountant help reduce the company’s tax burden?

In this delicate moment that we are going through, many entrepreneurs are retreating and looking for different alternatives to deal with the government’s fiscal hunger and the tax burden – always increasing. A good accountant is able to minimize the impact of taxes on the operation and expenses of the company, and that is the subject of the following post.

The importance of the accountant

When the accountant analyzes the accounting of a company, he has an overview of the activity and what services the company uses. From there, he makes some calculations about the tax regime that best fits the institution’s activities. Knowing about the tax regime, the accountant has a series of knowledge to make the company have some reduction in the tax rate, if the branch that the company is in has. Each tax regime has a different calculation and rate for each tax. Thus, the accountant compares the 2 types, when it is a medium and large company, and chooses the one with the lowest tax amount. Thus, the accountant may be the key that was for your company to go through the crisis, helping in the performance of the business through corporate and tax information.

The accountant in managing the tax burden

The professional can help calculate the risks by using Income tax calculator and can contribute to drawing up plans for the company, helping to create strategies and presenting solutions aimed at cutting costs and necessary expenses. The accountant, when obtaining the company information, can point out what they are:

  • The weakest and strongest points of the enterprise;
  • The existing legal means to reduce the tax burden, opting for the most appropriate tax regime according to the company’s profile;
  • The areas that need cutting and those that need more investment.

In addition to helping to save money, the accountant can directly assist in the development of your company.

The role of the accountant during the financial crisis

The presence of an accountant and an efficient accounting organization is especially suitable for small and medium-sized enterprises, which are generally managed by people who may not have professional experience in the field. As they do not have the consolidated knowledge in tax legislation, they cannot exactly choose which path to take.

Tax Management is one of the main parts for the success of small and medium entrepreneurs, and in order to reduce expenses with tax burden, it is essential to have a trained professional, with extensive experience in tax jurisdiction. After all, the accountant is able to manage and assist your business in moments of decision making. In a time of economic crisis, knowing how to deal with fiscal issues can be the key to getting out of the crisis without much – or even any – significant consequence on business stability.


Why cryptocurrency is always a better investment when compared to gold

Ever since the emergence of cryptocurrency, there has been a debate about its credibility as a means of investment. People still doubt its worth despite large scale adoption, increased awareness, and of course impressive price rise. Especially, when it comes to comparing cryptocurrency to gold, people believe gold to be far better long-term investment. But that is doesn’t mean cryptocurrency lies on low performing scale.

To know why the cryptocurrency is eventually a better investment option than gold, let us measure them on different principles:

  1. Universal and censorship-resistant: This is one of the biggest benefits Cryptocurrencies enjoys over gold. It is neither created nor governed by any financial institutions. It is non-sovereign and since it is censorship resistant it cannot be confiscated, reversed, or seized by anyone. Also, the Bitcoin payments cannot be restricted by any individual, organization, or government. While the same is not true with gold, in times of national crises respective governments hold the rights to confiscate your gold
  1. Growth:Cryptocurrency’s growth is not restricted to the single territory; it is universal and hence borderless. As more and more use cryptocurrency as their future money, they are likely to convert their hard-earned paper currency into digital currency. And the more people resort to this, the higher the prices of cryptocurrency will get. The profits alone fetched through holding and buying cryptocurrency are immensely good. Thus, considering the fact, opting to exchange USD to ethor any other digital currency is a pretty good idea.
  1. Convenience of Use: Electronic payment is the way to the future. It will disrupt the global payment system and emerge as a prominent means of conducting transactions. Irrespective of the payment mode, cryptocurrencies can benefit you with their adaptability to different payment transfer systems. Additionally, cryptocurrency has a flexible nature it can efficaciously adapt to the changing needs of the customer. On the other hand, gold is a commodity exchanging, or using it a currency is not a viable option.
  1. Supply: Since gold exists in the physical form its supply is limited. However, digital currency is immune to this issue. They do not have a limited supply and can be issued (withdrawn) depending on the market demands. Furthermore, gold as an investment is a liability. Despite spending on its making and opting for a locker facility it cannot escape inflation. While the same does not apply to cryptocurrency investment.
  1. Easy maintenance: Cryptocurrencies are a far better investment than gold. They are completely digital and facilitate easy transfer and purchase. You can buy Ethereum with a credit cardand easily transfer it to another user. Plus, you can get it exchanged for USD value. Additionally, gold can be easily faked and destroyed. It does not assure you durability as a cryptos blockchain system.


From an investment perspective, cryptocurrency has the potential to generate big payoffs down the road. In the coming decades, a lot of people may opt to invest in cryptocurrencies to diversify their holdings. Therefore, it may be not so fruitful to invest in precious metals anymore.


How Capital Match Loans Singapore Works?

SMEs (Small to Medium enterprise) are the pivotal force behind the thriving and growing economy of Singapore. The economy is expected to grow by 0.5% in 2019 on year to year basis. The finance and insurance sector witnessed a phenomenal growth of 4.30% year to year basis. SMEs contribute about 99% of the business, 2/3 rd of employment, and 49% of the GDP of Singapore. Adequate cash and revenue generation is the lifeblood of this entrepreneurial business .34percent of these SMEs go through a cash crisis due to the delay of payments from customers. Singapore’s economy is one of the most exposed economies of this world, along with a low tax regime and 3rd highest GDP of the world. Read more to know about Capital match loans Singapore.

Enormous Gap

The SME owners face a lot of difficulties due to trickling cash flow, which affects their production and competitiveness. Inadequate cash hampers production unable meeting customer demand; delaying projects and expansion work. Banks are the first priority of SMEs to fulfill their financial needs. But unfortunately, 8 out of 10 are not eligible for bank loans. Most of them earn below $221,000 annually and low cash flow, making them incompetent for a bank loan. Another clause for a bank loan is that your business must be at least three years of continuous operation. In this initial gestation period, you need cash to survive and grow. Other sources of funding are expensive and difficult to find. A mammoth financial gap of SG$20 billion is threatening the survival of SMEs of Singapore.

Invoice Financing

Financial companies regulated by the Monetary Authority of Singapore are offering new loan products that are very different from traditional loans. They are designed to bridge the enormous cash flow gap which SMEs are facing. One of these innovative ways is invoice financing. You can borrow money from a third party against receivables i.e., invoice. Factor financing is an age-old method of maintaining cash flow. The modern technology and data have made assessing the risk factor easy and quick, thus disposing of the loan amount inappropriate time.

Summing up

This financial instrument enables us to receive the money which is supposed to be received at a specific date in the future for a fee. In lieu of cash, you submit the invoice to the third party, who collects the money at the stipulated time. Invoice financing gives you a leverage of low cost, flexible financing facility over the stringent traditional loans.


5 Unexpected Costs to Account for When Setting Up a Storefront

Setting up a storefront is more than just interior designing and setting up your office layout. When a business leaps into the set up of their storefront without much planning or strategising, they might end up with unexpected costs, overthrowing the initial budgets.

Below, we share several unexpected expenses that most businesses forget to plan for.

License, Permit & Insurance

Depending on the industry of your business, you may need additional permits, licenses, and insurance before your business can start running. These permits and insurance serve to protect your business – your assets, employees, and customers.

Having a license and permit to carry out your business will give your customers more confidence to work with you. This is especially true for industries pertaining to health and hospitality.

Office Space & Utilities

Your building would usually have come with its water piping and electric wiring configuration. However, these costs are sometimes only included when you are planning the interior design for your space so that the new layout fits your electricity and water needs as well.

If your storefront is made of a larger space, then do not be too surprised to find that you have to hire a commercial electrician or plumber to set up your storefront correctly for you. The cost may be a little hefty, but you will have precisely the utility services that you need for your storefront afterward.

Office Supplies & Printing Costs

At first glance, purchasing some filing cabinets, printers, and papers might not feel like it would amount to much. However, these seemingly-small expenditures can quickly rack up to thousands within a single year.

Even by shifting your billing records online or in cloud drives, there would still be name card printing, letterheads for official matters & other similar office supplies that you will need to tend to. After all, any other commercial storefronts would still require cash registers and thermal paper rolls regularly too.

Remember to compare the prices for anything that you are purchasing to save some costs in the long run.

Technological Expenses

Even if your company does not focus on digital solutions, you cannot entirely run from it. Whether it is building your website, purchasing your domain or getting an effective payroll system for your office, you will eventually need some technical assistance to improve your business efficiency.

If your storefront includes an office, your technological expenses will extend to purchasing laptops, computers, accounting software, and even more. Remember to consider the laptop specifications that you will need to complete your work more efficiently!

Employee Benefits

There is much more to worry about than just your employee’s monthly wages! Full-time employees should receive additional benefits, such as sick leaves, employee insurance, and medical claims. Setting up the employee benefits program is going to take some time and resources too.

While costly, these fees have to be available for your employees, and the failure to do so can lead to your company being reported to labour offices in your area. You can also expect your employees to feel demotivated to continue working for you without any form of proper compensation for their efforts.

Image Pexels License CCO


How KCC Scheme is Helping the Rural Development in India

The Kisan credit card scheme is a government-sponsored policy aiming to increase the total amount of credit availed by farmers and other individuals employed in the agricultural sector of the country. The primary aim of this scheme is to boost the primary industry of the country, which generates $4860.94 billion quarterly.

Farmers can use the Kisan credit card to avail loans of different sizes and tenors. It can be used to finance daily agricultural costs incurred, such as seeds, fertilizers, equipment and machinery, pesticides, etc.

Before this scheme was launched in 1998, farmers were heavily dependent on non-institutional credit sources, such as moneylenders. It levied a massive burden on them, as illicit interest rates were charged on the nominal loan amount, affecting the growth of agricultural sector as a whole, as well as creating extreme pressure on farmers.

Following steps will give you a brief idea about how to apply for a Kisan credit card under this scheme –

  1. Choose the financial institution from whom you want to avail the card.
  2. Visit ‘Kisan Credit Card Scheme’ portion on the website of chosen NBFC.
  3. Click on ‘Apply Now’ and fill in the required details.
  4. Wait for 3-4 days for an executive of the financial institution to contact you regarding further formalities.

You can also apply offline by visiting any branch of your chosen NBFC.

Applying for a regular credit card, on the other hand, follows a different process. There are various ways in which you can check your credit card application status if you choose to avail a standard card instead.

However, applying for the Kisan credit card scheme following the above mentioned process has several advantages –

  • Loan repayment tenor is flexible during the cropping and harvest season, as the demand for funds is the highest during this time.
  • Disbursement of the loan amount is hassle-free – minimal documentation and other verification processes are required for the transfer of funds in the borrowers’ name.
  • Credit limit on the card is flexible, depending upon the financial institution from where you are availing it.

The interest rate payable on the credit under this scheme is lower than the rate at which other loans are offered via private lenders. This allows farmers to procure high-value funds at nominal interest rates.

  • Crop insurance can also be obtained under this scheme. It enables farmers to secure their financial interests in case of a poor harvest or low produce during the season.
  • Cash withdrawal facility is also provided under this credit card scheme. This helps farmers gain access to liquid funds during emergencies.

Not all credit cards offer such ATM withdrawal facilities. Financial institutions such as Bajaj Finserv offer RBL Bank SuperCard which comes with a 50 day interest-free period on ATM withdrawals against nominal processing charges.

They also provide pre-approved offers that make availing loans quick and easy. Pre-approved offers are available on numerous financial products including credit cards, secured credits like home loans, unsecured credits like business loans and personal loans, etc. You can take a look at your pre-approved offer by providing your name and phone number.

The advantages of the Kisan Credit card scheme can only be availed if you are eligible for it. The criteria you need to fulfil to procure such a card are –

  1. Applicant should be the owner/cultivator of his/her agricultural land.
  2. Sharecroppers, tenant farmers, or oral lessee can also apply.
  3. Self-help groups, joint liability groups having members involved in this sector are eligible as well.

Credit cards under this scheme can be used only to fund agricultural needs of farmers, and not for personal uses. However, if you avail a standard credit card, the benefits of various kinds can be procured.

For example, reward points are credited with every transaction on regular cards, which can be redeemed to avail numerous discounts. There are numerous other things you can do with your credit card reward points. Make sure to check such benefits before you opt for the card.

The interest rate under the Kisan credit card scheme is charged at 9% per annum. However, interest deduction and other waiver facilities are provided by the government to enhance the wellbeing of the farmers.

Interest payable on standard credit cards do not work in the same way as other financial products such as loans. You should know about credit card interest rate calculation before availing such a card.

More than 2,35,28,133 credit cards have been issued in India as of March 2018 (RBI data released.) This has boosted the agricultural growth of the country, significantly, as well as improved the purchasing power and thereby the quality of life of the farmers of the country.