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Introduction People commonly use mortgages to purchase a home. Borrowers are often quoted interest rates based on basis points when obtaining a mortgage. Define Basis Points A basis point is a measure commonly used in finance to describe interest rate changes, bond yield, and other financial instruments. One basis point equals one-hundredth of a percentage point or 0.01%. Basis Points in Mortgage Explained Mortgage interest rates are typically expressed in terms of basis points. If a borrower takes a loan on a 30-year fixed-rate mortgage, then the interest rate may be 4.25% plus 50 basis points. This means the total ... Read More
Introduction Individuals and businesses depend on outward remittances as it is important to international trade and commerce to send money from India to other nations for various needs. It is essential to understand the rules and regulations governing remittances abroad to guarantee smooth transactions and avoid legal problems. Outward Remittance in India An outward remittance refers to sending money from India to a foreign country. It could be for various purposes, such as education, medical expenses, investment, or family maintenance. Individuals and businesses use various transfer modes, including wire transfers, credit card payments, or online money transfer services. Significance ... Read More
Introduction A prospectus must be submitted to the SEC, a regulatory authority, when a firm wants to go public. A prospectus is a legal document containing thorough information about the firm, business activities, financial performance, etc. However, before the final prospectus is issued, companies often release a preliminary prospectus known as a red herring prospectus. Meaning of Red Herring Prospectus RHP is the first document filed by the firm that wants to go public through an IPO. The document is called a "red herring" because there is a disclaimer on the cover, written in red, stating that the herring is ... Read More
Introduction Mutual funds are the best investment option for people who want to expand their investment choices. This method will help them earn larger returns. Mutual funds allow investors to move their investments from one mutual fund to another via switch option. What Switching in Mutual Fund Means? Switching in mutual funds refers to transferring your investment from one mutual fund to another within the same fund family. Fund families are groups of mutual funds managed by the same investment company. For instance, if you invest in an NYC mutual fund, you can convert to another NYC mutual fund ... Read More
Introduction Tax-saving bonds are a popular strategy to minimize taxable income and save money on taxes. These bonds are long-term investments. They have a lock-in period of 5 to 10 years, during which the investor cannot redeem the bonds. In this tutorial, we will learn about tax-free bonds and their advantages. Define Tax-Saving Bonds Tax-saving bonds are financial instruments issued by the government or public sector undertakings (PSUs) to provide tax benefits to investors. These bonds are purchased with the idea of profit in the long run. The investments are kept in a lock-in period for 5- 10 years. ... Read More
Introduction Underbanked individuals/households have minimum access to basic banking services like loans, credit cards, and savings accounts. This could be due to a lack of credit history, a poor salary, or living in places where banks or financial services are less or unavailable. Being underbanked can majorly affect a person/household's financial well- being. It will reduce their ability to save, invest, and grow wealth. Meaning of Underbanked Being underbanked involves having limited access to common banking institutions' financial services and their products. Some of the examples include checking and savings accounts, credit cards, and loans. These financial products help people ... Read More
Introduction An important element of financial planning is wealth management. It involves handling finances to accomplish long-term goals. Investment management, financial planning, and estate planning are all included in wealth management. The ultimate purpose of this financial service is to assist individuals and families in maintaining and growing their wealth while minimizing risks and tax liabilities. Meaning of Wealth Management Wealth management is a detailed approach to financial management. It includes various services such as investment management, financial planning, and estate planning. Wealth Management Explained Wealth management covers many services meant for controlling an individual's finances. Investment management manages one's ... Read More
What is IT? IT can be expanded to Information Technology. IT uses computer systems and many other electronic devices like smartphones to access different types of information. IT is being used in personal and professional level. Businesses use the technology to enhance their business skills. If we talk about the usage of IT at personal level, people can use it to communicate with others play games, watch movies, and do a lot of other things. At the professional level, IT can be used to enhance business operations, train employees regarding new technologies, and do a lot of other things. Information ... Read More
Introduction Compulsory convertible debentures (CCDs) are becoming increasingly a popular method by companies to raise capital. They are a unique financial instruments that combines debt and equity features, providing investors with a steady stream of interest payments while offering the potential for capital appreciation. Define Compulsory Convertible Debenture A compulsory convertible debenture is a financial instrument issued by companies to raise capital. It is a type of debt security converted into equity shares at a predetermined time or when certain conditions are met. As the name suggests, converting the debenture into equity shares is mandatory. Overview of Compulsory Convertible Debenture ... Read More
Introduction Coupon bonds are a fixed-income asset that pays the bondholder interest through periodic coupon payments. A coupon bond issuer borrows money from investors and offers to repay it with interest over a set period. What are coupon bonds? Coupon bonds are debt security issued by corporations or governments to raise funds. They are called coupon bonds because they typically pay interest in the form of coupons, which are detachable pieces of paper attached to the bond certificate. The coupon rate is the interest rate paid to bondholders, usually fixed when the bond is issued. How do coupon bonds ... Read More