Have you been thinking about moving to the United States of America [US]? Becoming familiar with the current immigration laws may well be your first step. While you are at it, give some thought to where you should set up your new home. Many US cities welcome immigrants with open arms. What are some of these immigrant-friendly cities where you can live in peace, earn a good living, and transfer money to India with ease? Let’s find out.

Moving to the US

Many Indians move to the US for various reasons. You may know of techies who are sent to the US by their employers on onsite visits. Some people move there for higher education. Still others may be on the lookout for better career opportunities. Whatever be the case, each person needs to find a city that has favourable immigration laws. This can help make the immigration process smooth.

Best US cities for immigrants

1. San Francisco – San Francisco is one of the most expensive cities in the US. But it is a great place to live. Very welcoming towards immigrants, San Francisco is close to Silicon Valley, which is home to many Indian techies and their families. Salaries are high, which means expatriates here are able to send money to India in large volumes.

2. New York – The cultural melting pot of New York is home to people who hail from all over the world. For an immigrant from India, this could be a great place to call home. You will find multiple options when looking for homes and schools. You will find grocery stores stocking the ingredients you need and restaurants serving different cuisines. Whether you are moving there to work or study, New York can be a great introduction to life in the US.
3. Chicago – This cold and windy city is actually amongst the warmest and most welcoming places in the US. Chicago has been a leading immigration hotspot for decades now. The city is great for living and working. Plus, with all the skyscrapers and art galleries, there is plenty to see. 4. Washington, D.C. – People from the US and abroad are constantly moving into and out of Washington, D.C. Immigrants represent approximately 15% of the city’s population. The city beckons students of all ages thanks to great educational opportunities. Plus, as this is the capital city, one could find well-paying jobs with good benefits.
5. Seattle – Seattle is yet another immigrant-friendly city in the US and it is home to many Indians. The city has some favourable immigration laws in place. For instance, the Ready to Work programme helps immigrants to develop job skills and integrate into the workplace in a better way.

6. Los Angeles – Los Angeles has immigrants from not just India but other Asian countries too. The locals are friendly and the city has a high employment rate. That makes it easier to find a job, start saving up, and send money to India for loved ones back home.

Summing up

For people immigrating to the US, earning a higher income is generally a big priority. Many people chase lucrative jobs and better standards of living when starting a new life in the US. Perhaps they have financial liabilities back home that they wish to take care of in a better way. If this is the case for you, find out about the different remittance routes before you move to the US. For instance, you could look for a trustworthy service provider like Axis RemitMoney to transfer money to India from USA. Then, once you start earning in dollars, you can remit to India in just a few clicks.

With everything happening on the internet these days, you can make buying a car fast and easy. Dozens of sites let you shop at will for the brand, model, year, and condition that make sense to you. If you are anxious to get the wheels on the road for work, family, or school, you can expedite the sale by using a car loan calculator.

Jaiveer Mehra, writing for Autocar India suggested

It’s hard to separate emotions from such a large purchase and so, for many, the time to buy a car is during festivals like ‘Dhanteras’, where it is considered auspicious to buy metal, or on a birthday or anniversary.

Regardless of the best time to buy, you need to be prepared.

Five reasons to try a car loan calculator

1. Fit your budget!

Even car dealers recommend you know how much room your budget has for a car loan. Your budget should focus on the monthly bill, not the grand total. The monthly allowance is a clearer indication of what you can afford.

So, before you shop among cars in a certain price category, you should determine what you can afford to pay each month along with your other obligations. Working with what you know you can afford saves you a lot of time.

2. Free and easy to use!

The EMI Calculator, for example, is risk-free and user-friendly. You plug in a few figures, and it does the rest for you. You enter the gross asking price of the car, the interest rate, and the length of the loan. That’s it! The calculator takes care of the computation.

3. Learn a bit!

While the calculator works simply and you only need to enter three terms, it requires you to look into a few things. For instance, when you enter the gross asking price, it must include the cost of add-ons, required fees, taxes, and so on.

Checking on these details may adjust your thinking on what you want and are willing to pay. It may convince you to drop an extra feature or accessory to lower the price. You might decide to increase the down payment or adjust the tenure of the loan. Being well-informed gives you the edge.

4. Increase your leverage!

With the help of car loan calculator, you can figure out what you want and what you can afford before approaching the seller. With a firm monthly payment in mind, you can negotiate better and more confidently.

5. Shop smarter!

You may have had your mind set on a specific vehicle. You liked the colour, and it fit your preferences for model, year, and features. But once you have used the auto car loan calculator, you have the information to shop for comparable vehicles because you know what you can afford. You can shop smarter and more widely.

Put your wheels on the road!

A car purchase is a major investment for anyone. Most buyers find themselves making concessions on style, accessories, and features. But with more information at hand, you can secure more value for money.

If Rs. 8 Lakh is your target going in, a car loan calculator will compute your monthly payment. Vinay Dwivedi at The Economic Times advises, ‘Instead of splurging on an impulse, it’s important to consider the financial viability of owning and selling the car’. And, a car loan calculator can help.

With the advent of technology, a majority of customers opt for online or electronic transactions since they are the easiest and convenient options. In order to suit the needs of the customers, insurance companies have availed the policies on their websites wherein the customers can purchase and renew it online.

After the presence of health plans and motor insurances online, a Unit Linked Insurance Plan [ULIP] is the next suited alternative for the investors. So if you’re wondering how an online ULIP plan is beneficial than a traditional ULIP, go through the following points mentioned below. Take a look:

What are online and offline ULIPs?

• Online ULIP Policy

Ever since the insurance companies have introduced online ULIPs on their respective websites, every investor prefers investment in online ULIPs rather than offline ones. This is simply because of the fact that these online ULIPs are not only time saving but also a cost-effective means of investment. Moreover, an investor can purchase a ULIP insurance online by sitting in any part of the world. Take a look at these simple tips of investing in online ULIPs:

1. Log in to the online portal of your insurance provider
2. Submit the required personal details as asked by the insurance company
3. Make an online payment either via credit or debit card in order to make the online purchase of a ULIP Policy.

• Offline ULIP Policy

When you purchase ULIPs directly from an insurance agent, the cost raises as compared to the charges of online ULIPs. Due to the applicable commission charges, the offline ULIP costs are higher. Additionally, the other painstaking procedure of the offline ULIP purchase is the involvement of heavy paperwork. Take a look at the entire process of purchasing a ULIP Policy offline

1. Contact the agent of the insurance company
2. Fill in the application form and submit all the important details
3. Provide the insurance company with the mandatory documents
4. Submit your health certificate
5. Make the payment in order to purchase the ULIP Policy

What is the difference between online and offline ULIPs?

Due to the presence of ULIPs both, online and offline, there are times when investors often confuse them with one another. Since both these options are different from one another, it is essential to understand the difference between the two, separately. In order to make things easier for you, here’s a look at the major differences between these two

Why choose online ULIPs over offline ULIPs?

• Value for money

Due to the lack of involvement of any middleman like the insurance agent, the cost of buying a ULIP Plan online is typically less. Hence, the insurance companies avail these online ULIPs at low rates. The online ULIPs are approximately 30-50% cheaper than offline ULIPs.

• Claim settlement

Online purchase of the ULIP Policy helps the investors to get a better picture of the claim settlement ratio directly from the website. Opting for a ULIP Policy online means getting easy access to the insurance company’s claim settlement ratio.

• Transparency

The lack of involvement of the third party in online ULIPs keeps the entire process clean and transparent. However, in the case of offline ULIPs, the insurance agent is the whole and soul throughout the entire process. Since an agent is majorly involved, there are times when the agent might either mislead the policyholder or keep away things from him in order to gain maximum commission charges.

• Comparison

Before opting for an online ULIP Policy, every customer can make online comparisons on a tool called ‘aggregator’. This tool enables the policyholders to compare multiple policies on the basis of the costs, premiums, features, and ULIP benefits.

Now that you know these 4 benefits of online ULIPs, what are you waiting for? Invest in an online ULIP Policy since it promises a hassle-free investment experience. Before you opt for a ULIP Policy, choose a credible company and base the selection of the policy based on the ULIP performance. In the end, the best ULIP plan you get for yourself is going to make all your hard-earned money worth it due to its high returns and low costs.

Not everyone is born with a golden spoon in their mouths. A majority of the population has to strive hard to accumulate funds in order to turn their dreams or goals into reality. With the help of a Unit Linked Insurance Plan [ULIP], an investor can easily save a humongous cash fund and fulfill his life goals with ease. So if you’re wondering how to utilize your ULIPs savings in order to meet your long term goals, go through these few productive ways of optimizing your ULIP corpus at its best. Take a look

Nine life goals to fulfill with the help of a ULIP Investment

Secure your family needs

Since a ULIP Policy is dual in nature, it is a perfect blend of investment and insurance under a single plan. These dual ULIP benefits allow the investors to financially support his family in times of emergencies. At the time of death of the policyholder, the nominees receive the sum assured amount from the insurance companies.

Participate in equity markets

With the help of a ULIP Policy, the investors can effortlessly participate in the equity markets. Moreover, investment in the equity funds of the ULIP Policy promises higher returns. After the market bounces back, an investor makes profits from these returns on investment.

Generate wealth for the long run

A ULIP Policy guarantees a lock-in period up to a maximum number of 5 years. During the course of the tenure, the invested money grows and generates into a larger corpus. The longer your period of investment, the longer is the creation of your wealth.

Enhance the value of life coverage

As you grow old, the risk of unwanted diseases is typically high. However, opting for a ULIP Policy at a later phase of life comes with a high price. Hence, invest in a ULIP Policy at an early stage in order to avail lower payment of premiums.

Invest in a retirement plan

At the time of your retirement, every individual requires a steady flow of income. In order to ensure that you are financially secured during your retirement phase, invest in a ULIP Policy. With the help of high returns and tax benefits, you’ll not only be earning more but also saving more money which is important to survive the crucial phase of your life.

Pay off the debts

Due to lack of resources, an investor ends up taking up either a home loan or a personal loan in order to meet his goals. However, you won’t have to do so when you invest in a ULIP Policy for yourself. In order to pay off the un-cleared debts, utilize the ULIP corpus which has been accumulated in the past few years.

Buy your dream car

No matter how much you’ve paid for the repairs of your previous car, the old car stops functioning due to optimum usage. In case your car has undergone several repairs, make use of the ULIP savings in order to buy an extravagant car in order to suit the needs of your entire family.

Make a real estate investment

Another effective way of putting your ULIP savings to use is by investing in real estate. An investor can use this money as a down payment in order to purchase the assets. Since an investment in real estate increases the value, you are liable to receive a bigger corpus, at the time of liquidation.

Opt for the renovation of your homes

In order to prevent the wear and tear of your house, timely maintenance and renovations is a must. Typically, a facelift in the form of fresh painting or upgraded fittings can enhance the value of your house. In order to renovate your house, use the investment ULIP amount to do so.

Now that you know these nine life goals you can fulfill with the help of a ULIP Plan, what are you waiting for? Before purchasing a ULIP Policy, understand what is ULIP thoroughly. Additionally, make use of a ULIP return calculator in order to compare multiple features and benefits, premiums of different policies. If you invest in a ULIP Policy wisely today, only then you’ll be able to save up more for the future.

A savings account helps managing the personal finances like paying the utility bill, transfer money, withdrawals, to shop, to address contingency needs, to invest, to receive money, and so on.

The balance in the bank account can earn you interest at the rate of 3.50%-7% per annum, as opposed to it lying idle and perhaps unsafe at home. Moreover, Section 80TTA of the Income Tax Act, 1961 provides a deduction of up to Rs. 10,000 on the interest income earned on the savings account.

Savings account are offered by almost all banks in India and in various types of saving bank accounts today, with frills and no-frills, with distinguishing features catering to your needs.

A regular savings account, salary account, senior citizen savings account, youth account, women’s saving account, zero balance savings account, linked savings account are some of the types of savings bank accounts.

Such availability confuses many on which savings account is the best for them.

Below is a list of points which will help you choose the right savings account

Interest rates

Interest rates are the first thing you must check which the bank is offering. Before 2011, interest rates were fixed at 3.5% per annum, but now interest rates for savings account have deregulated by RBI since 2011.

Banks are offering interest rates at a range of 3.50% – 7% per annum, so choose the one which gives you the highest rate of interest.

Balance requirements

Savings account have to maintain a certain amount of balance. The minimum balance requirements vary with the type of savings account you choose. Government banks have a much lower minimum balance requirement when compared to the private ones.

If you are not interested in maintaining the minimum balance requirement, then you open a Basic Saving Bank Deposit account. But the facilities and services of such account is minimum.

Online banking

Nowadays, almost all banks have online facilities. It is necessary to check out whether the online banking facilities of the bank is up to the mark or not. Check out the online banking website of the bank on the internet to see whether it is customer-friendly or not.

Banking apps

Banking apps have made life easier for account holders. Banks apps linked with your bank account makes payment of bills, fund transfer, checking account balance etc. much easier through a smartphone. Make sure your bank offers the best bank app.

Service fees

Avoid bank that charges high service and maintenance fees on the bank account. Such high service fees will eat up your savings. Such charges are levied while banking transactions, removing a bank statement or fund transfer. Services charges are usually less in public banks compared to private banks, but their service may not be up to the mark.

Account safety

Always choose a bank that will provide top-notch security to your money and personal details. You do not want your money and personal information to fall into the wrong hands.

Motor law in India makes third-party insurance policy mandatory since it covers the liability in case of an accident. The three-year tenure will reduce the cost of issuing policies, administering them and follow-ups for renewals. This could also lead to lower premiums as insurers could pass on the savings to the customers.

The insured gets a 30% discount on the three-year cover and will be entitled to no-claim bonuses post the tenure. Insurance companies offer discounts of 20% and 30% on two-year and three-year policies respectively. You could also save on premiums if you buy a long-term third-party liability cover as IRDAI hikes third-party cover tariffs by 20% every year.

Benefits of Long Term Bike Insurance

1. Convenience

In today’s hectic lifestyle and so many EMIs to pay one can easily miss the deadline for a bike insurance renewal. Long-term two-wheeler insurance addresses this very issue by providing a cover for three years which removes the need for renewal every year.

2. Avoiding Issues Related To Non-renewal Of Lapsed Policy

Lapsed policyholders are subject to certain risks in case of non-renewal of policy or till the policy is restored by paying the premium. Any motorist whose bike insurance renewal has lapsed would not be eligible for reimbursement in case of the vehicle being stolen or damaged. The insurance company can demand their right to get the entire vehicle checked all over again in case of a lapse. The motorists would then have to bear the entire financial loss themselves. This can be clearly avoided for three years with the purchase of long-term motor insurance.

3. Discount On Own Damage Premium

Insurance companies have started offering a discount on the damaged parts with a premium. They can do this to save the costs associated with administrative and issuing costs.

4. Premiums Are Frozen For Three Years

Long-term bike insurance can save you from the annual hike in the third-party premium rates which are fixed by the IRDAI, generally, 10% to 15% hike is an average. Based on their own experience, insurance companies can also raise their premiums for own damage from time to time.

5. No Claim Bonus Advantage

On the parameter of a No-Claim Bonus [NCB], some insurance companies mention that long-term insurance for two-wheelers scores over one-year policy, but the NCB structure is different in case of renewal of a long-term policy and one-year policy.

One main advantage of buying long-term insurance is that you need not worry about renewing your policy annually. A break in renewal can delay a policy purchase process in future. Once the policy lapses, most insurance companies insist on inspecting the vehicle before renewing it or issuing a fresh policy. Long-term bike insurance is worth considering due to the advantages it offers that outweigh the disadvantages.

Tip – Always secure your bike with a reliable insurance provider like Bharti AXA for the security & assurance of your claims.

People spend most of the time researching about the latest model, colors, specifications and safety features of the car. But while choosing the insurance, most of the people blindly proceed with the deal without making sound research about the different policies. Thus they find it hard to pay the premium cost in the later stages.

It is mandatory in India to have an insurance policy for all the cars plying on the road. To avail the motor insurance policy, one needs to pay a certain amount of premium. If you don’t get involved in an accident where you claim your insurance, you lose the premium amount paid for the protection. However, on the other hand, you receive the No Claim Bonus [NCB] as a reward, if you don’t make a claim in one policy year. By making own damage premium, one can avail the benefits of NCB ranging from 20% to 50%. Following points illustrate the benefits on Own Damage Premium on account of no claims for consecutive years.

• 20% – No claim made during the preceding full year of insurance
• 25% – No claim made during the preceding 2 consecutive years of insurance
• 35% – No claim made or pending during the preceding 3 consecutive years of insurance
• 45% – No claim made or pending during the preceding 4 consecutive years of insurance
• 50% – No claim made or pending during the preceding 5 consecutive years of insurance

Before buying motor insurance you must need to know about the IDV of your vehicle. Your insurance policy is based on the IDV- Insured Declared Value. It is the amount your insurer pays you which is equal to the market value of your vehicle. Initially, when you buy new motor insurance, the IDV is calculated on the showroom price of your vehicle. However, IDV is never constant. During the time of motor insurance renewal, the IDV gets decreased because of the rate of depreciation. Also, make sure to complete motor insurance renewal before the stipulated amount of time to avoid paying penalties. This period is usually 90 days.

Before signing the policy papers, you need to know what are the inclusions and exclusions of the motor insurance policy.

Inclusions

Comprehensive policy covers loss or damage due to natural calamities. It also covers loss or damage caused due to man-made calamities. For example, natural calamities such as lighting, earthquake, flood, hurricane, storm, etc and man-made calamities like theft, riot, and terrorist activity.

The motor insurance policy also covers personal accident damage. This includes permanent disability or death of the insured person. You can get coverage of rupees 2 lakhs for the damage caused due to an accident.

Motor liability insurance is also called as third party insurance. As per the Motor Vehicle Act 1988, it has made mandatory in India. This protects you against any legal liability and the damage or bodily injuries cause to any third party in an accident.

Nowadays, all general insurance companies also offer ‘add-ons’. It increases the protective cover compared to the basic policy. However, addition of the add-ons in your policy increases your premium cost.

Exclusions

Insurance companies try to claim the best coverage to protect you against any mishap. However, there are some exclusions to the motor insurance policy.

The exclusions are as follows:

• Normal ageing, wear and tear of your vehicle
• Mechanical or Electrical Breakdown
• Damage caused by a person driving without a valid driving license
• Damage caused by a person under influence of alcohol, drugs and any other intoxicating substances
• Loss or damage outside India

Are you in search of a new bank to avail the best of benefits? If yes, then stop for a while and give the idea of shifting your banking to online a chance. Opening savings accounts online mostly opens the avenue to best rates right in front of you, and these also furnish you with top notch services with fees lower than the most.

The reason online banks have rode up the scale of popularity over the last few years is as easy as ABC: they have in store a better deal in terms of higher interest rates against your savings account.

Let’s have a look at the three key benefits compelling you to get into the current online banking scenario!

Lucrative Interest Rates

Listing down the benefits won’t be quite right if it doesn’t start with better interest rates that an online savings account offers. Due to its cheap operating cost compared to that of the brick-and-mortar banks, online savings account produces better return. The business model costs a lot lesser due to its convenient and easy requirements- smaller space needs, fewer staff, and almost no waste to name a few .

As the expenses are cut down in almost every aspect, online banks can share portion of their savings to you causing a visible hike in savings rates.

Nominal Fees

Another prospect that keeps online savings account way ahead of traditional banks is that they charge strikingly lower fees for every segment- right from checking overdrafts ranging up to account maintenance per month. Bank fees might seem small, but over a period they can add up to a visibly huge amount.

Even, an online bank may waive off total overdraft fees, charging just the  interest on an overdraft line of credit. Lower fees on the investment accounts is also worth mentioning. Generally, debit cards are free.

Streamlines Mindset

Online banking goes good with savings accounts. Opening an online savings account, you only make it  a bit more difficult to get to. Though withdrawing cash or making purchases is no biggie with a debit card issued by traditional banks, money transfer from an online savings account to another brick-and-mortar bank can take up to two business days.

That sounds like a limitation, but then your aim with a savings account is to save and not spend money. The two-day delay discourages instant spending.

That mindset, and the safety of having your money a bit tougher to access, is the mental trump card to turn spendthrifts right into savers.

Online Savings Accounts – Thumbs Up or Thumbs Down?

If you are one who gets paid in cash, inclined to make frequent deposits and withdrawals, or do not have ample access to digital medium, opening an online savings account might cause more inconvenience to you instead of providing you with the desired benefits.

However, if you can keep an amount of your savings untouched for a certain period of time, advantages from great online savings account rates would still bear its fruits for you, though. All that you have to do is to link your online savings account to your local checking account and voila! The benefits would be right at your fingertips.