Author: ifscco

If you have ever applied for a loan or a credit card, you have likely heard of the CIBIL score. It is one of the most important factors lenders use to determine your eligibility for home loans, personal loans, or even a simple credit card application. But what exactly is a CIBIL score? Managed by the Credit Information Bureau (India) Limited (CIBIL), this score represents your entire credit history. It shows how responsible you have been with your debt repayments. This blog discusses everything you need to know about CIBIL scores, why they matter, how they are calculated, and how to…

How to Calculate FD Fixed deposit (term deposit) is an investment type where a person deposits a lump sum of money with a bank for a certain amount of time. Interest is paid on deposits made into the FD at a predetermined rate that is decided upon when the account is opened. FD is calculated using a formula that considers compounding interest over the investment period. Formula Used to Calculate FD Here is a formula that you can use to calculate FD: In this formula: For instance, if you invest ₹60,000 at an annual interest rate of 6% compounded quarterly…

Net banking is defined as a facility offered by banks which allow its customers to conduct banking transactions over the internet. This facility greatly reduces the physical presence at the bank, and that’s the reason it’s also called ‘Anytime and Anywhere Banking’. Net banking is also known as online banking, e-banking, internet banking, etc. With the advent of internet banking, gone are the days when a person had to take a trip to his bank even to check his account balance. The concept of internet banking began in 1983 in the UK, when the Bank of Scotland started provided internet…

More than 400 million people are credit active in India. This number is approximately half of India’s working population and has at least one loan or an active credit card. With this rising number and very little understanding of loans, many people are struggling to keep up with their EMIs. Be it a personal loan, home loan, car loan, or education loan, one must know how to calculate monthly EMI. In this blog, we will review and understand how to calculate monthly EMI, the factors that go into the calculation, and some useful suggestions on how to handle loans. What…

How to Calculate Mutual Fund Returns Mutual Fund Returns are the profit or loss created by a mutual fund over time. This represents the performance of its underlying assets. The formula for mutual fund returns calculates the percentage gain or loss of a mutual fund investment over a defined time period, taking into account changes in Net Asset Value (NAV) and any dividends issued. Formula Used to Calculate Mutual Fund Returns To compute mutual fund returns, you can use the following formula: Where, If you invest ₹2,000 per month for 24 months with a 12% expected return and a periodic…

How to Calculate Lumpsum Returns A lump sum investment is investing a large quantity of money all at once rather than breaking it down into smaller, recurring payments. This strategy invests all of the investor’s available cash in one transaction, usually into mutual funds or comparable investment products. A lumpsum calculator is a tool for estimating the future worth of an investment based on the amount deposited, interest rate, and duration. Formula Used to Calculate Lumpsum Returns The lumpsum returns can be calculated using the formula: A = P (1 + r/n) ^ nt Where, You may use this method…

As of 30th June, more than 500,000 people worldwide have died of the COVID-19 pandemic, and more than 1 million have been infected. The seriousness of the pandemic can be seen from the fact that it has managed to bring the entire world to its knees. The times in which we are living is unprecedented in terms of economic losses. Superpower countries like the USA have even declared it a national emergency in mid-march and all outdoor activities and travel came to a complete standstill. The work of keeping ourselves and our families safe is the paramount concern of every…

SIP stands for Systematic Investment Plan, under which people invest a fixed amount of money periodically in mutual funds. It is a prudent method of investing that helps accumulate wealth in the long run. Investors need to know how to calculate SIP interest so that they can manage their money and investments effectively. In this blog, we will explain how to calculate SIP interest in detail and provide calculations for better understanding. What is an SIP? As we know, an SIP enables an investor to invest a fixed amount on a fixed date every month in a mutual fund scheme.…

EMIs are a major part of our monthly commitment that has a major influence on our monthly planning. Whether home loan or personal loan, these monthly prepayments affect the overall loan tenure and interest payments. This is why it is important to calculate these monthly EMIs for strategizing your prepayment. As part of this planning, monthly EMI calculators have proved to be a useful instrument. You must consider using an EMI calculator to choose your loans wisely. Here is a step-by-step guide on EMI structure and the basics of monthly EMI calculators. What are Monthly EMIs? EMI or Equal Monthly…

Do you know 63% of Indians lack a comprehensive financial plan? This can make reaching financial goals such as a child’s education or retirement appear difficult. But what if you could invest small amounts regularly and watch them grow significantly over time? This is where SIP (Systematic Investment Plan) comes into the picture. SIP is one of the most popular and equally efficient ways of investing systematically in mutual funds. But to fully reap the benefits of SIP, the concept of SIP calculators must be well understood and applied. In this blog, we will cover all the core fundamentals of…