These plans are best suited for individuals with a lower risk appetite as they provide guaranteed benefits.

'Try to obtain a secured personal loan or credit card by offering some collateral, such as a fixed deposit or gold.' 'Not only will this improve your eligibility, but the lender may even offer a lower interest rate.'

'Look not just at the interest rate but also the processing fee.'

Rebalance your portfolio in case it has become overweight on equities vis-a-vis your strategic asset allocation.

Try to assess whether the broker has good knowledge of the prices prevailing in the area you are interested in, and is able to provide the pros and cons of various projects.

Keep revising the sum insured at the time of renewal to keep it in line with inflation.

The impact of currency depreciation can also be mitigated by holding a portion of your investment portfolio in dollar-denominated assets.

Group term insurance is far more cost-effective than an individual cover.

'Investors don't have to worry about underperformance in passive funds, which earn market-equivalent returns.'

While equity savings funds could offer higher returns over three-five years, they would also be more volatile.

'Banks will continue to increase FD rates to attract more deposits and meet the increasing demand for credit.'

Be wary of co-operative banks which have historically been most vulnerable.

Suppose you had bought a television set that came with a one-year warranty. It breaks down two years after purchase. You can't react emotionally and say that such an expensive set should last for at least five-six years.

A term plan's premium is lower than that of a wholelife plan.

In contrast with their strong performance in 2020 and 2021, pharmaceutical and healthcare funds experienced a decline in 2022, with returns plummeting by an average 9.8 per cent. This trend has continued in the current year, with year-to-date return remaining in the negative (-4.9 per cent). In the past three months, pharma funds have been hit hard, experiencing a 7.9 per cent decline.

Improved credit profile may make you eligible to transfer your existing home loan to another lender at a much lower rate.

Make sure that the person you are buying the plot from is the rightful owner.

Rebalance the portfolio at least once a year to ensure it remains in sync with the target asset allocation.

Many investors want to exit equities now and re-enter when they begin to rise. Such timing is difficult to pull off.

End users should take the plunge despite higher home loan rates as these tend to be cyclical.