Why Should You Invest In A Company's Reputation?

When buying a product, what are the factors you consider? The product offering and price are two primary factors you think of. Reputation of the brand is another crucial factor to check. You are a store to buy a mobile phone. It looks great, offers several features, and promises value for money. But will you buy it if the brand is not a renowned one? A bad brand reputation makes its product quality questionable.

If you wish to build customer's trust, increase profit gains, and attract better talent, you should invest in your company's reputation. A reputation management advisory chalks strategies and executes them to create a favourable brand image. Here are the reasons to invest in one.

Word-of-mouth advertising

There are numerous ways to advertise your product today. But word-of-mouth advertising is the strongest of all. Primarily in India, it spreads faster than expected. In India, we live in a close-knit community. The smallest purchase you make, you share it with your family and friends. If your brand has a decent reputation, it spreads quickly. You need not spend additional money on marketing. Your goodwill does it for you.

Earns higher profits

As the word starts spreading, people learn about the brand. They purchase and see what the product offers. Moreover, you need not convince the customer to buy the product. They have heard about your brand name, given the brand's good reputation, and are not hesitant to invest in them. This helps churn out a higher revenue. 

Access better talent

Are you struggling to get talented employees for your brand? The reputation management advisory helps with this. Today employees are looking for more than just a 9 to 5 job paying them a six-figure salary. They take ownership of their work and wish to work for a company they can take pride in. Work on building a good brand reputation, and aspirants look forward to working with you.

Channelise negative feedback rightly

We live in the dynamic digital age. A negative tweet can be why companies' stocks take a hit. Reputation management executives also focus on your company's online reputation. They identify negative feedback and address them immediately before things get out of your hand. At times just addressing the issue may not be enough to restore the company's reputation.

Hence, reputation managers employ a corporate reputation management strategy to channel negative feedback in the right direction. Preparing for such situations is necessary, so you are not caught off guard during a crisis.

What Are The Perks Of Opening A Wealth Account?

Wealth creation is something humans learn from a young age. Before taking up a career or following your passion, maximum people are confident about making enormous money. It takes a lot of smart work and precious possessions like time for multiplication. Maintaining important income objectives helps accomplish a degree of satisfaction with your capital.

A Wealth Account opening allows you to access a wide range of privileges and specialised wealth solutions to meet your financial goals and aspirations. You get guidance from experienced wealth managers having exclusive market insights. Besides, the competitive rates on remittances and global travel assistance is a boon, especially for Indians having relatives residing abroad. Here are the other perks:

Family privileges

Get exclusive access to lifestyle privileges. Take care of your family with global education and medical concierge. Travel with complimentary airport privileges like pick-up and drop-off, lounge access, meet-greets, and international travel assistance. Benefit from property management services, legal services, tax and trust planning, golf green fees waivers, and more.

Wealth solutions and market insights

Be among the first customers to get the latest market insights and highlights from Indian and International markets with group research. You can invest in sophisticated wealth solutions like Bonds, PMS, AIF, structured products, etc. Invest in online Mutual Funds from the comfort of your home using the Wealth Management Account.

Digital banking experience

Manage your portfolio anytime, anywhere with your digital banking partner. Experience the power to manage your life however you desire. Get access to secure login, super-fast remittances, smooth navigation, and swift payments.

Experienced specialists

Get support from a dedicated Relationship Manager for all your banking and Wealth Account opening needs. As your trusted wealth partner, your Relationship Manager co-ordinates with a team of experienced specialists to provide you solutions in line with your financial objectives.

Premium Banking benefits

Enjoy Premium Banking solutions like remote account opening worldwide, preferential rates on remittances, free unlimited ATM withdrawals, exclusive offers on Infinite Debit Cards, and much more.

Other conditions

It is mandatory to follow the Premium Banking proposition of maintaining a minimum relationship value of up to Rs. 30 lakh over six months of Wealth Account opening. The TRV is across all accounts in a family and calculated by aggregating average quarterly Savings Account balances and end-of-period Term Deposits, Insurance, investments, and Mortgage Loan outstanding. 40% of the net balance of the Home Loan or Loan Against Property will be considered for TRV computation.

Conclusion

Wealth Management services are appropriate for wealthy individuals with broad needs. The advisors are high-level professionals and experts who work individually as a single person or as part of a small-scale business. A client receives services from a single designated wealth manager or has access to a team of specified wealth members.

7 Aspects Of NRE Accounts You Should Know About

Moving abroad invites a host of changes. Besides the obvious lifestyle ones, it also mandates changes in your banking ways. This implies swapping your old bank account to conduct everyday transactions. You must either opt for a new one with a foreign banking partner. You could also convert your old account into a Non-Indian Resident Account. An NRI Account is meant explicitly for NRIs.

It allows them to park their foreign earnings safely. It facilitates their banking and investment needs once they move away from India. Such an account comes in three distinctive types. They are as follows:

1. Non-Resident External Account
2. Non-Resident Ordinary Account
3. Foreign Currency Non-Resident Account

Out of these, we will cover the essential aspects of an NRE Account. The following points explain it:

1. Rupee denominated

An NRE Account is Rupee denominated. This means that it maintains your deposits in Indian Rupees. The function stays consistent across all types of such an account. For example, whether you have an NRE Current or NRE Savings Account, your funds will be retained in Indian Rupees.

2. Repatriability

This type of account offers you full repatriability. You can freely transfer the funds in your account to another country. Thus, many NRIs with financially dependent families open an NRE Account. It allows them to send money to India without any hassles.

3. Fund maintenance

You can contain funds received from another country in your NRE Account. The same goes for transfers obtained from another NRE/FCNR Account maintained in India. Also, it is possible to transfer money from your NRE Account to an NRO Account. The process involves no restrictions.

4. Joint facility

At times, you might want to open an account with a family member living overseas. Considering this, an NRE Bank Account offers you a joint facility. You are allowed to hold the account jointly with another individual. However, the co-holder must be an NRI. Else, you cannot avail of this facility.

5. Conversion

Many Indians move overseas for a brief period. When they come back, they get the option of converting this account into a regular resident account. The procedure for this conversion, however, varies from bank to bank.

6. Taxation

The most appealing aspect of an NRE Account is its taxation policy. Interest earned on deposits in this account is exempt from taxes. This way, the NRI can optimise their interest earnings without any worries.

7. Transfer rules

A resident power of attorney cannot open an NRE Account on the NRI’s behalf. However, they can make local rupee payments and transfers on the NRI’s behalf. There is no imposition on such transactions.

What You Should Know About Mutual Funds Portfolio

Investing in Mutual Funds is akin to building a house. There are numerous tactics, tools, and strategies, but each includes fundamental characteristics. To create the ideal Mutual Fund portfolio, you must go beyond the ancient saying, 'do not put all your eggs in one basket.' A long-lasting building necessitates a clever design, a solid foundation, and a simple mix. That is precisely what Mutual Fund portfolios are about.

Meaning

Fund managers professionally manage your Mutual Funds. They collect money from a group of individuals with similar financial goals and invest in Stocks, Bonds, Money Market Instruments, and other securities. After deducting expenses and taxes, the income or profits are dispersed proportionately among investors. Mutual Funds are a collection of money that many contribute.

Mutual Funds are suitable for those who do not have significant quantities to invest in or time to research the market. Professional fund managers invest the money collected in Mutual Funds according to the scheme's aim. In exchange, the fund company deducts a small fee. Mutual Fund fees are regulated and subject to certain limits set by the Securities and Exchange Board of India.

How does the portfolio work?

A Mutual Fund Portfolio includes investments in asset classes and securities such as Equity, Fixed Income, and other routes meticulously built and maintained by fund managers by the fund's objectives. Investment in such portfolios provides retail investors access to high-quality, professionally managed investments.  It invests in financial instruments such as Stocks, Bonds, Debentures, Government Securities, and other assets.

A Mutual fund Portfolio is a collection of such investments in diverse assets established using money collected from multiple investors.  The fund's purpose is communicated in advance, and an expert manager ensures that the fund adheres to the objective. Retail investors can accumulate wealth over time by investing in portfolios that match their risk tolerance and financial goals.

Reasons to build a portfolio

• You do not wish to pay any fees or charges.
• You cannot locate a Fund scheme that adheres to your investment principles.
• The Mutual Fund you want to invest in has an excessive expense ratio, firms you despise or weigh on specific industries or companies that are too high or low.
• You also want to invest in Bonds but do not wish to pay the additional fees and expenses associated with fixed income and Balanced Funds.
• You can adjust your investments as you age and as your goals change.

Conclusion

Combining various types of Mutual Funds creates a balanced portfolio. One core fund can serve as the basis, with the remainder funded from multiple categories. Knowing your risk tolerance influences the funds you select. Moving ahead with a long-term perspective is always a good idea.

Personal Loan Application Process: A Step-By-Step Guide

Personal Loans are a great financing option to meet several financial requirements. Since they are multiple purpose Loans, you can use them for anything: funding education plans, home renovation, planning your dream wedding, or even debt consolidation. Many prefer Personal Loans because of their hassle-free application and approval process.

Understanding the various steps involved is crucial if you plan to apply for one. Here is a detailed overview of the approval process.

Checking your eligibility: Before starting your application process, determine your eligibility. Using a Personal Loan eligibility calculator can be helpful here. It gives a clear picture of where you stand concerning the Loan eligibility and the amount you are eligible to apply for. 

Application process: Once you have checked your Loan eligibility, the next thing to do is make an application. There are two ways to apply for the Loan; you can either do so online or visit the nearest bank branch to complete the procedure. Applying for a Personal Loan online is simple and convenient. You can apply for a Loan online by logging into the bank’s website. A working computer and stable internet connection is needed for the request.

Documentation: After filling out the application form, upload certain documents on the bank’s portal. Also, upload the KYC documents, income proofs, tax filings, and other papers. You can find the checklist on the bank’s website. So, check it out.

Verification: The bank verifies all your details on completing the Bank Personal Loan application process. They check its accuracy. Sometimes, the bank would visit your place of employment for verification purposes, so be prepared.

Approval and disbursement: Post the verification process, if the bank is satisfied, they approve the Personal Loan request right away. The process becomes more time-saving and simple if you are eligible for a pre-approved Loan. On your Loan request being approved, you can expect funds to be credited to your Savings Account within one or two working days. In the case of a pre-approved Loan, the funds get credited to your account instantly.

Usually, the entire Loan process and approval takes up to four to five working days. However, the timeline can be prolonged if your documents are not in place, and you need not meet eligibility for Personal Loan. Applying at the earliest possible is best, considering delays in the Loan approval process. This ensures that you are not running around to arrange for funds during trying times.

Do not forget to maintain an excellent financial profile and have all necessary documents handy. 

What Are The Notable Features Of Banking Apps?

The customers of today do not like waiting. They want their needs met and issues resolved instantly. Banking requirements are no exception. Owing to the emerging preference, banks and financial institutions have introduced apps into the picture. Not only are these apps convenient, but they are also quite efficient. But to reap the benefits of any Banking app entirely, you should know about its features.

Only then can you use it to your advantage effectively. Else, it might be of no substantial use to you. So here are the most notable ones for your reference:

1. Security & fraud alerts

Despite being easily accessible, Internet Banking facilities like Banking apps are incredibly safe. They operate on advanced security features that go beyond simple log-in requirements. They are embedded with multi-factor authentication that ensures advanced level protection. This way, hackers cannot get access to your details whatsoever. If there is an unsuccessful log-in attempt from another device, you get notified.

You also get fraud alerts; at times, bank officials might contact you to verify suspicious transactions made through your online Bank Account. Here are some things you can do to take your security up a notch:

• Do not share your log-in credentials with anyone
• Change your PINs and passwords frequently
• Do not create obvious PINs and passwords. For example, your birth date, wedding anniversary date, etc.
• Create strong passwords to be on the safe side

Note that these come in handy while availing of any Online Banking facility. It is always good to take precautionary measures on your end.

2. QR payments

Nowadays, QR payments have become significantly popular. They are contactless payment facilities performed by scanning a QR code from a Mobile Banking app. You must go to your app and click the ‘Scan QR code’ option. Then, the app will open your camera to scan the code. Once that is done, you must enter the amount and your PIN to process the payment.

3. Cheque deposit facility

Earlier, you had to visit the bank to deposit cheques. But nowadays, you need not even step out of your house to do so. With an Android Banking app, this task becomes simpler. You need to scan the front and back sides of the cheque and follow the instructions given by the app.

4. Bill payments

Most apps provide you with options to pay your utility bills. For example, if you need to pay your electricity bill, you will find the option ‘pay electricity bill’ in the app.

Why Are Sips Suitable For First-Time Investors?

Investments play a significant role in our lives. They enable us to build our wealth strategically. They also come to our rescue in times of financial emergencies. Without them, it becomes challenging to establish our monetary goals on time. But for a first-time investor, specific Investment options could seem slightly intimidating. This is when a Systematic Investment Plan comes in handy. It is a systematic yet simple investment scheme.

It allows the investor to deposit small sums at regular intervals for a predetermined period. It serves as a hassle-free and convenient investment option for beginners. Here are other reasons why SIPs are suitable for first-time investors:

Easy to comprehend

As discussed, a SIP follows a simplistic investment structure. You only need to invest a fixed sum at regular intervals. You and the fund provider agree upon both when initiating the SIP.  This way, there is no confusion whatsoever.  

Reliable & safe

A SIP Investment is the safest investment option available. It is both managed and controlled by professional fund managers. You need not worry about security threats. Also, SIPs are not influenced by market fluctuations. They follow a rupee cost averaging structure that determines the average high and low amount based on your investment duration. Hence, they are highly reliable too.

Redeemable

Unlike other investment schemes, SIPs allow termination and withdrawals. It grants full redeemability of your invested funds. For example, you have invested in a SIP. For whatever reason, you wish to discontinue it and withdraw your money. In this case, your fund provider will disburse the total invested amount in your Savings Account. This way, you get full access to your investments.

Tax-saving perks

A significant chunk of investments gets deducted by taxation. But in the case of SIP Plans, the investor does not face this issue. As per section 80C of the Income Tax Act, such Investments are exempt from taxes. Hence, it is an excellent option for first-time investors. It allows them to reap the benefits of investing entirely.

Calculator

A SIP calculator is an online tool that helps investors compute their returns. This tool is readily available on most fund providing portals and the Mutual Fund app. It is highly beneficial to first-time investors who have little knowledge about investment growth.

Accessible

Nowadays, SIPs have become quite accessible. Several online banking portals and fund houses offer them at the click of a button. You need to meet their eligibility criteria and follow their application process. After this, you can start your SIPs.