Finance Care in India - Credit Card, Credit Score, Fixed Deposits

Any individual needs to save money for any future situations. They aim to save money but ends up spending it all if proper budgeting is not done. There are multiple ways to save money like mutual funds, investing in the stock market and many more but they all are subject to market risks. However, Fixed deposit , on the other hand, is the most secure form of investment where the investor deposits all the amount at one go for a certain fixed period and gets a fixed return including interest after maturity with no risk. There are multiple reasons which attract the customer to invest as it offers a higher interest rate than usual savings bank account. The money invested here is for a long tenure which cannot be closed in between, however, if needed, can be closed with premature withdrawal penalty. You can also use it as collateral to avail loan or credit card. It also exempts tax up to a certain limit. Fixed deposits are one of the best forms of investment. Read full info: How

When you look to avail loans, one of the most common eligibility requirements which you find is a good credit score. Lenders offer you a loan only if your score is 650 or 700 and above. The higher the score the better deals can you find on the loan. The Cibil score depicts your creditworthiness and tells the lender the possibility of repayment of the loan. While many of you know that a good credit score is needed, what you might not know is the fact that there are some factors which affect your credit score. If you know these factors and how you can influence them, you can improve and build a good credit score. So, here are five of the most important factors which affect your credit score – Repayment history The repayment history of your existing debts influences the major part of your credit score. It contributes to 35% of the score. That is why to improve your score you should always pay your liabilities on time. 2. Credit utilization This is th