BankerBhai.com launches Money Meter

BankerBhai.com has been launched with a sole motive to address financial well being of an individual or small business. The portal allows the user to see how the money is performing by using proprietary tool Money Meter. The portal also allows inter-bank comparison of home loans, car loans, personal loans, credit cards including the rates offered by public sector banks also.

Indraprastha Advisors P Ltd announced the launch of its website, BankerBhai.com. The website is positioned to help small businesses and salaried individuals make the best of their money. They have introduced India's first online financial planning tool, called Money Meter. It helps salaried individuals get a financial health score along with sectional reports on their personal finances advising them on next course of action. The portal also has a feature to compare home loans, personal loans and car loans for best loan rates comparing even the rates offered by Public Sector Banks.

Manish Verma, Founder, BankerBhai.com commented on this occasion, "Having been in the banking industry for more than 15 years, I could clearly see a need for financial knowledge at retail levels. What best being done by the banks was to advise a client category-wise to sell their product. The loan guys will not know about investments. The investments person cannot talk about transaction banking and likes. BankerBhai was envisaged as a platform where the money matters could be looked in a wholesome manner. We have started with Money Meter (India's first online financial planning tool) and loan comparison across lenders. More exciting features will follow."

The team is working to have CIBIL scores estimation and advice on how to improve CIBIL scores. They already have useful calculators and blogs available on the site to help users. The site proposes to bring helpful features on tax management, financial decisions, and loan management in times to come.

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5 smart moves before availing a Home loan

5 smart moves before availing a Home loan

Investing in a home is the prime investment most people in the world care about. It is a lifetime dream for any individual. A home loan will be the biggest and most important loan an individual will ever go for in their entire life. This is the primary reason that there is a long list of banks and financial institutions which offer all types of home loans in India. People these days are choosing Home Loans for their different needs. Hence, it's important to make the right decisions when you approach a bank for a home loan to buy your dream house. Here are some important things to watch out for says Brijesh Parnami, CEO Destimoney Advisors

1. Do your own research

Home loans are marketed pretty aggressively by most financial institutions, luring investors with attractive interest rates and schemes. It however pays to take decisions wisely before taking the plunge. It is important to understand the terms and conditions of the loan agreement, penalties, charges etc. Do not hesitate to ask the sales person or the bank to explain or clarify even the slightest information.

2. Set your budget

The first step before embarking on a home-loan application is to decide on your budget. A standard home loan will cover upto 80% of your requirement (the overall cost of the property). You will need to raise a minimum of 20% and also separately, take into account stamp duty, registration charges, brokerage etc.

3. Know eligibility for a home loan

Loan eligibility is calculated based on your ability to pay and the cost of the house. There are a number of ways you can increase your loan eligibility. For instance you may choose longer loan tenure in return for higher eligibility. You may request the bank to club the incomes of close relatives like your spouse or parents.

4. Calculate Interest Rates and other Fees

These rates vary from institution to institution and through certain periods of time through the year when special promotional offers and discounts are in place. Beware of such banking terminology as ‘fixed rate’, ‘floating rate’ and ‘reducing balance’. Discuss these factors thoroughly before deciding on an option that suits you best.

5. Documents need to furnish

One should be aware of the requisite documents for a home loan procedure. Some of the basic documents include Photo Identity, Pan Card, Address proof, Bank Statement, Salary Slip, Form 16 etc. that one needs to submit for availing a home loan.

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Frugal Living: Choice is Yours

Frugal living the best ways to live as you like, it is not always wrong to consider that frugal living is about reducing all our wants and desires to save something.

Living in budget is the mantra for frugal living,whenever you are having plan to spend more, just quickly go through some of the tips for saving money.

Best thing you can do is to save some amount from your expenses daily, so that you would be able to face any contingency situation unexpected.

Regarding the budget - income and expenditure, you have be tough while saving money if at all your planning to make your life a part for frugal living.

Always remember that it is you who can save a penny, instead of spending it. Saving is the straight forward ways for progress.

Lets consider, what would happen barring the concept of frugal living, nothing major change but you would having less or no money left to meet some emergency or to any consistent expenses in life.

In life, there is need for consistency all the time be it the income or expenditure. The regular inflow of income make you comfort.

And you can't check the outflow - expenditure completely, but you can be selective - that is what frugal living is all about.

Cut your expenses as much as possible, but not to that extend where your life would feel about the scarcity of everything in life.

One can lead a good life by adopting frugal living tips and implementing those into day to day life.

While shopping check out for best deals there, so that could save money.

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Personal Finance Tips: Handle Your Insurance Payments

Personal finance is the subject for all irrespective of their stature, no matter who they are and how much they earn, still it matters them.

Managing personal finance is an art, some master there and excel while, some couldn't. That doesn't mean that the latter one is failed.

However, one much be cautious about their payments in all aspects, in order to maintain a sound financial condition in personal finance.

Lets consider the payment made to insurance companies for their products like - life insurance, health insurance, retirement solutions product or wealth management funds.

During the crunch time, one should focus on the payouts made for life security.

When its a tough time handling personal finance, then options should be explored - how to meet the payments towards your insurance installments.

There is one tedious task , when you plan to pay all the insurance installments, then you should also make sure that you have sufficient income or your paying major portion of you purse.

When income goes down, insurance installments would not go down in the same proportion. And yes, this could a rarest case, where the income is being compared to the insurance payments in personal finance.

One should also look forward about the returns from the investments in insurance sector, what he or she is going to get during the maturity, what would be inflation rate - merely the price of goods and services.

When you spend much on insurance at the current time and the return would  be less in a long-run, you could be a loser.

Rather planning to investment in insurance by paying huge chunk of your income, simple make some alterations in your personal finance management.

When your going through a tough time in life - simply try to alter the payments towards your insurance installments.

Talk to your insurance advisers, see what could be alternative or check the value of your investment, and if you feel its good deal then simply scrap the policies or alter it.

Try to find some flexible payment  options if your paying all the amount in once or lump sum. And if your having policies those could not be altered then you can take loan against your polices.

Many insurance companies do avail such facilities to pay you the amount you invested as a loan against the product you have opted.

Handle properly your payment to insurance policies or installments, and if there anything that could be in your favor do not hesitate to go for that option, since its you who is in trouble not the company.

And there is no need for many life insurance polices, one or two could be enough, and no need to pay huge amount for many same sort of products.

On the contrary, that amount could be invested in the stock market or mutual funds, where there is chance of high return, and this involves risk too.

One should pay attention towards the payment in order to have sound financial condition that would get you out from crunch time.

If you have not tried to handle your personal finance, then have a look on your income and payments.  

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Top 4 Ways to Earn a Big Pay Cheque

We can never say that wealth is everything in life, but it does play a very important role in making our life easy. We all work hard day and night spending more time in the office, than with our loved ones at home, for what? Just to make sure we secure wealth and to make our loved ones future secure.


But we know that fact that earning big amounts of money is not that easy as it sounds. But we can’t help wondering why some people are more successful in earning more, with the same capabilities and skills as we have, and we remain where we are. Well if we carefully study what is it that they are doing that makes them wealthy, and even we start doing it, then we can also become wealthy. Let us look at those points.

1. Become a Master: People don’t get paid more, just like that they have certain skills and expertise that makes them master in their field of work and so they get paid for it. So if your aim is to manifest wealth, look into yourself what can you master?

2. Sharpen Your Axe: Once you identify your area of mastery, concentrate and focus on improving and sharpening those skills. Do whatever it takes to be an expert in it, read more gain knowledge, practice have your hands on it and gain expertise. If you should be paid more than others than you should deliver that which other are not able to deliver.
3. First Create Wealth in Your Mind: You can manifest anything outside until you have first manifested it in the mind. Yes every action is a result of thought and if it is action that leads to more income, first you should have thoughts about wealth or more income in the mind. So, have thoughts of wealth in your mind and nurture them.


4. Have Confidence: Have confidence in your skill, in your expertise and above all have faith that you deserve to be wealthy, or deserve to earn more. Because you have made yourself deserving by working on those areas and if you are expecting high returns, it is because you are delivering more or may be the best.

So, working hard is not enough, work smart, gain more skills, knowledge, expertise, focus your thoughts on wealth and see how you will not get more income.

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ArthaYantra Ties-up with Faujnet to Provide Financial Advice to Over 3 Lakh Armed Force Personnel

ArthaYantra.com, India’s largest online personal finance advisor and Faujnet.com today announced a strategic partnership for the Armed Force Personnel. The partnership would help the companies to provide financial advice services to the highly under-served Armed Force Personnel segment of the market. As per the arrangement members of Faujnet would get automatic access to services of ArthaYantra.

ArthaYantra has become India's largest online personal finance advisor with 50,000+ registered individuals. The user friendly “Arthos” is an online and end-to-end personal finance platform which replaces the traditional human advisor and can generate customized personal finance advice instantly. One can create a financial plan, implement recommendations and monitor performance on a single platform.

Consumers with limited knowledge of finance can use “Arthos” easily and get actionable advice in real time and create a concrete action plan to achieve their financial goals. “Arthos” users get wealth management grade advice from the comforts of their home and don't have to depend on visiting individual financial advisors.

Commenting on the deal Nitin Vyakaranam, CEO of ArthaYantra says “It is a matter of pride for ArthaYantra that we can help our Armed Force Personnel to secure their Financial future. Our commitment to unbiased advice for salaried individuals will be further strengthened by this endeavor. We expect strategic alliances to further drive our exponential growth in the next few years.”

Faujnet, which provides solutions for Armed Force Personnel, would be expanding its portfolio of services through this partnership. Faujnet helps retired Armed Force Personnel to develop a career post their retirement from the services.

CEO of Faujnet, Captain Venkata Ramana adds “This strategic alliance will reinforce our core values of addressing the welfare of the Armed Force Personnel by not only finding employment opportunities in corporates but also helping them secure their Financial future. Majority of the Armed Force Personnel at the time of retirement are at an age where they have numerous un-finished responsibilities. With this service we would be able to fulfill the aspirations of soldiers.”

Armed Force Personnel who fight for our country and are often deprived of high quality financial services, can now get access by availing ArthaYantra’s services.

About ArthaYantra

ArthaYantra is India's largest online personal finance advisor. It helps salaried individuals grow their money and achieve their goals. It is an innovative company started by a group of alumni of the Indian School of Business (ISB), Hyderabad. Arthayantra provides holistic, customized and wealth management grade financial advice online to salaried Indian professionals. The advice encompasses all aspects of personal finance including financial health check, goal based advice, insurance advice for risk management, tax advice and behavioral finance driven investment portfolio. ArthaYantra caters to its clients through the web-based personal finance platform, “Arthos”, which is being used by more than 50,000 families across 500+ cities in India & abroad.

About Faujnet

Faujnet.com provides welfare solutions for current and Ex-Servicemen. Faujnet.com provides its members with career and financial management tools to plan and secure their retirement. The future secure solutions provided by Faujnet.com are utilized by the best and successful organizations across India. These solutions are suited for armed force members from newly commissioned officers to senior veterans across ranks.

Source: Business Wire India

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ArthaYantra Recognised for Innovation

Mumbai: Arthayantra.com, an India based online Personal Finance advisor, has been selected as one of the most innovative companies in Asia to present at FinovateAsia 2013. The event would take place in Singapore on November 14 and would be attended by world's leading financial services companies and investors. Finovate is considered the Mecca of Fintech innovations incubated across the world.

ArthaYantra would be presenting its online Personal Finance platform Arthos which has helped the company achieve 50 fold growth in less than 8 months. ArthaYantra has become India's largest online personal finance advisor with 15000+ registered individuals. The user friendly Arthos is an online and end-to-end personal finance platform which replaces the traditional human advisor and can generate customized personal finance advice instantly. One can create a financial plan, implement recommendations and monitor performance on a single platform.

Arthos uses ArthaYantra's unique proprietary framework, Personal Financial Lifecycle Management (PFLM)TM, to help customers achieve their financial goals. Consumers with limited knowledge of finance can also use Arthos easily and get actionable advice in real time (not just insights). Arthos users get wealth management grade advice from the comforts of their home and don't have to depend on visiting individual financial advisors.

Commenting on their selection for Finovate Asia 2013, ArthaYantra's Founder and CEO, Mr. Nitin Vyakaranam says, "Arthos provides actionable advice instantly and replaces a traditional human advisor who has to spend days to create financial advice for an individual or family. More than ever, the middle income population is in need of an advisor who can assist them even if they don't have a big bank balance. Arthos has enabled us to reach out to remote villages in India and help families with their finances. We are very excited to be part of FinovateAsia 2013 and ready to showcase Arthos to the world."

Finovate CEO, Mr. Eric Mattson said, "We're excited to have ArthaYantra demonstrating their cutting-edge Arthos platform at FinovateAsia 2013. Personal finance is an area of fintech that needs more innovative solutions like Arthos."

With the launch of Arthos, ArthaYantra has leapfrogged the existing product centric market structure and has made the entire financial services chain more unbiased and accessible. In its first phase of growth, ArthaYantra aims to reach out to 73 million middle income households in India.

About Arthayantra

ArthaYantra is India's largest online personal finance advisor. It is an innovative company started by a group of alumni of the Indian School of Business (ISB) Hyderabad and is backed by WFA Global, a New York based hedge fund. Arthayantra provides holistic, customized and wealth management grade financial advice online to Indian professionals. The advice encompasses all aspects of personal finance including financial health check, goal based advice, insurance advice for risk management, tax advice and goal and behavioral finance driven portfolio. ArthaYantra services clients through its web-based personal finance platform Arthos which is being used by more than 15000 familes across 500+ cities in India & abroad. For more information please visit www.arthayantra.com

Source: Business Wire India

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Personal Finance blues, top five tips

Money is everything and without it every task is incomplete. Personal finance is the science of managing the money in an efficient manner to gain or to being frugal. There are many tips and rule to be rich, and fact is that one can’t be rich over a night or a month. The process involves consistence practice and dedication in managing personal finance and money. Income and expenditure are the two greatest ways to accumulate and disperse money.

There is a good saying a penny is saved is a penny earned. And that is fact indeed, well there is no scientific rule to prove but personally that can be experience. It is also subject to certain conditions alike applicable with many theories in economics.

If you’re reeling under burden and looking for alternative option to manage your personal finance, then there are no short-cut mantras to fix it. But few tips you could follow to do-it-yourself (dIY). Here are top five tips; one could follow to check the imbalances in his or her personal finance;

1) Spend Less: when the income is low and the list of expenses goes up like anything, there is no way but to spend less. This is the great mantra to save something from the outlay that you have already planned for spending. Of course, this may not be applicable in the case of medicine or health concerns, where you can’t control. But in the other general cases, one could control on the spending and explore the best possible ways to have multiple income sources.

2) Best deals: Look for the best deals for the goods your planning to shop. Compare the price of various stores and outlets, before purchasing blindly those good and items. The best thing you can do is the look for the discount advertisements on the newspapers or free ads magazines.

3) Online shopping: Internet has become a major player in shaping the personal finance managements. Online shopping can save your lot of money. And the advantages of online shopping are time management and less marketing expenditure – traveling expenses. Most of time is being spend on the transport while outing for market, and all should visit from outlet to another to get their goods and items.

Visit couple of e-commerce sites or online shopping portals you can find varieties of items within few minutes spending there instead of running here and there in the market. There may be some limitations to the online shopping in some parts in the nation, but it could be the best option for many shoppers.

4) No credit: The most important thing one should keep in mind that the liability over shopping is the big burden. Many think they use their credit card initially and later-on pay to the credit card account, but that does not work often.

Having credit card has many advantages but also many demerits on the flip side. Credit card is the flexible in shopping but the burden of repay weighs high, whenever one plans to repay. If one fails to manage credit on credit card, the buyer may be trapped in it. Plan properly how to handle credit on credit cards. And also avoid purchasing goods on credit from retailer.

5) Cheaper Items: Look for substitute and cheaper items if possible while shopping. But the quality should not be compromised at all. Try to find the best alternative for the goods you are looking for. The globalization has made the market big today and alternative are available in the every market. Prefer goods having lower prices compare the tax levied on the goods and try to cut those if possible.

These five tips will help to manage your personal finance. Next time you visit to any outlet make sure you’ve prepared your mind over your expenses and personal finance tips.

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How to stay financially fit during crunch?

Uncertainty is the beauty of life; the personal finance is full of uncertainty as well. Having fixed income has been the best and secure way to lead a descent life, and that is what everybody tries to achieve in their life.

During the financial crunch, which may strike at any time, one should always be prepared for that. Managing personal fiancé involves discipline lifestyle and few management approaches those to be implemented.

Obviously, no one anticipate that it could strike so early, he or she is being already trapped in financial crisis. Hardly do there any time left for the person to undo his or her past actions.

While managing personal finance for a tough situation one should aim for sustainability alongwith meeting the current requirements. For that, the current savings could be allocated in portfolio to get proper return.

The big question is how much fund does one require to maintain the current income sources intact? The answer is very simple, but just more than impossible to implement. The answer to that query is, one does need around 130 times of his current monthly income, to get the equal amount of monthly income from the funds.

That sounds nonsense for many but true indeed, if you want to have your income regularly from sources without having single effort. In order to manage personal finance, one need to focus on the expenditure site, whether any waste expenditure is being incurred, which immediately need to be cut off from the expenses list?

The basic law is that one should maintain surplus in income to avoid any financially disturbed life. The best mantra is to strike a balance; it should be towards surplus side of income and deficit side of the expenditure.

Do not worry during the financial crunch time, rather you can sit down and plan everything beforehand it drown you completely into crisis.

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Top Five Tips to Save Money from Expenses?

“A penny saved is a penny earned” is true indeed. It is very hard to save from the household budget, no matter if you could be the best planner. In most cases, the house hold budge is being managed by women.

And they have been very keen in saving and cut off expenses from the big list. Women can save huge money if they wish to do so.

In many cases, they have been very good at managing the family and personal finance. Here are few tips to help you to save money from you expenses:

1) Plan Your Expenditure: First jot down those good and services you need and make an outlay of expenditure. Once that is done, you can figure out the exact amount you need for your expenses. While preparing outlay simply cut down your luxury items. No don’t feel about it, you can add those into list in your mid review if required, after all living better way is the life.

2) Look for Substitutes: While preparing a list of goods and services, look for the best substitute options you could go for. It is not bad always to look for substitute in your monthly expenses. There are many families saving huge chunk from their money option substitute or alternative products.

3) Search for Discounts and Offers: Shopping is incomplete without discount and discounts. Companies have been offering discounts for their customers, and to retain them. There will be discounts in every outlet, if not then once ask for the discount, you’ll get. Try to have some discounted all the items on your list.

4) Shop Online: Shop online for the goods and it would be much better if there is free home delivery. That could save you gasoline expenditure. There are many eCommerce sites have been offering huge discounts and assurance of free home delivery. These options could save your time as well as your money.

5) No Tips: Offering tips could be good, but if you’re striving hard to save a penny, so don’t waste that by paying tip. By paying Tips you’re purchasing the goods or service at higher price that it should be. Yes, it is for the promotional purpose but you need to take care about your habit if you’d like save some penny from your expenditure.

There are tips to save money from your expenses. And if you know any tips that could be included in this article, please comment below the article.

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Understanding Personal Finance in New Way

Understanding Personal finance is the sure fire way to secure is your future. Money is everything and without it future is insecure, right? So, start learning new methods to have best personal finance practices to balance your life and money.

Managing money or best practices in personal finance involving income & expenditure, is important as having secure income. The basic principle of personal finance is to balance the income and spending wisely, are the basic lessons in this arena.


During crisis, you best management over your finance will save your for a long time without hurting your current level or standard of living. If you’d like to focus on improving your personal finance, then your first target would be liabilities you have in any form – credit card, long-term insurance principals, and to be paid bills.

Always try to having minimum payout especially during the time of crisis, since those wouldn’t give you any return rather making you further tense.

Cut down you liabilities and focus on the income part, and in short term that can’t be fetch as much you need for a comfort living but by cutting the other site you can really reap the benefit of having more income.

There are many best practices those can be termed as new ways for having best personal finance practices. And involving decision of family members is the newest form that, you can have while chalking out new plans.

Never believe that you are the best at decision making, some other in your family, like spouse may have very good hidden plans that can save you from deepening further during crisis.

Sometimes, I also do feel that women are best at saving as much as they tend to spending in shopping’s! Hey, just listen to them and open you mind, you’ll learn few new lesion on personal finance management.

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Perfios Introduces Online Tax Filing

Press Release
Bangalore, Karnataka, India, Thursday, July 05, 2012 -- (Business Wire India) -- -- Option to Upload Form 16 reduces the risk of manual errors
-- Picks up additional info like capital gains, dividend, other income, deductions etc. from existing accounts within Perfios - no data entry
-- Supports both ITR1 and ITR2
-- Perfios is promoted by serial entrepreneur V. R Govindarajan, co-founder of Aztecsoft

With the user base reaching 300000, Perfios is already a well-recognized pioneer in the Personal Finance Management space. Earlier this month, Perfios enhanced its Online Income Tax Filing solution as a Value Added feature for its users.

Through this feature, Perfios users can file their tax returns from within their account, at a very nominal fee. Perfios provides its users the facility of uploading the soft copy of Form 16, thus avoiding the erroneous task of filling up data manually. For existing users of Perfios that have already been using the Personal Finance Solution, it picks up the additional investments and other income/deductions information from the relevant accounts in Perfios and computes the exact amount for which tax filing needs to be done - all this done with very little manual intervention, saving time and effort and reducing the errors that would have crept in otherwise with manual data entry.

Mr. V. R. Govindarajan, Co-founder and director of the Perfios, said, "With the new rule where people with a salary of more than 10 lakhs, have to mandatorily file their returns online, Perfios tax filing offerings that almost eliminates manual data entry is a great way for people to go online. The technology that we use and the resulting user experience that we provide are far better than what the competition provides and our timely response to our user support queries have been widely appreciated by our user community. In addition to all the benefits provided by the superior online filing process, Perfios, by virtue of being a personal finance management platform, provides a great way for users to track their financial data/returns so that they can use this as a single platform for all tracking all things related to their Personal Finance needs"

With the starting price for tax filing at Rs. 140 only, Perfios is the perfect answer to beat the tax filing rush as we approach the deadline of 31st July. Only an email id is needed to register for free at Perfios.

About Perfios:

Perfios offers an innovative online Personal Finance Software solution that provides a 360 degree view of one's Personal Finance. It helps manage an individual's money, in any form, in a safe and trusted environment and helps analyze and understand Personal Finance in a simple, easy and secure way. From bank accounts to credit cards, investments and taxes, every detail of one's Personal Finance can be tracked and managed at Perfios. Perfios is also completely Indian in character; it is constantly updated with the latest regulatory requirements including Tax Laws. The solution is available at www.perfios.com.


CONTACT DETAILS
Aditya Prasad, Perfios Software Solutions Ltd., +91 9886039444, adi@perfios.com

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