Do you have an interest in becoming an expert options trader? If so, then understanding technical analysis is essential. Technical analysis allows traders to identify and evaluate price trends and provide insight into asset prices’ future direction. With strong technical knowledge, traders are better equipped to assess risk and make informed decisions when entering or exiting a trade.

In this article, we dive deep into how effective technical analysis can help you improve your options trading skills. We discuss the basics of chart patterns, support/resistance levels, indicators such as moving averages, and oscillators, among other topics related to day trading, so that you can develop a successful strategy for making profitable trades in financial markets more reliably.

Understanding Options Trading Basics

Options trading has long been a popular financial strategy among professionals and amateur investors. Understanding the basic concepts of options trading can give individuals a powerful tool for managing their financial portfolios. A key aspect of options trading is leveraging anticipated market changes to maximize profit. While options trading can initially seem daunting, with some research and practice, anyone can learn the fundamentals of options trading and reap the benefits of this flexible investment strategy.

From understanding the different types of options to mastering the art of reading market trends, there are countless avenues to explore regarding options trading basics. By taking the time to familiarize themselves with the ins and outs of options trading, investors can boost their confidence and build a strong foundation for their financial future.

Analyzing Market Conditions and Trends

At the heart of any successful options trading strategy is understanding current market conditions and trends. Technical analysis can provide traders with a wealth of information about the underlying movements of asset prices, allowing them to make informed decisions when entering or exiting trades. By studying chart patterns, support/resistance levels, and indicators such as moving averages and oscillators, traders can gain insight into past market behaviour to inform their future trading decisions.

In addition to these technical methods of analyzing price movement, investors should be aware of any economic or political news that could affect their investments. Staying up-to-date on global events and developments can help ensure your portfolio is prepared for potential changes in the market environment.

Learning to Interpret Price Charts 

Price charts are an integral part of any successful options trading strategy. By studying the patterns and trends of historical price movements, traders can gain insight into the future direction of asset prices and make more informed trading decisions. Traders use numerous chart types for technical analysis, such as candlestick charts, line graphs, or bar charts. Each type has unique benefits and weaknesses, so choosing the right chart type for each situation is essential to maximize accuracy and effectiveness.

In addition to studying chart patterns, investors should also consider indicators such as moving averages and oscillators, which can help identify changes in the trend earlier than traditional chart analysis alone. Gaining a thorough understanding of these tools can be invaluable in helping traders spot changes in the market and make decisions with greater confidence.

Utilizing Technical Indicators to Make Predictions 

The use of technical indicators is an essential component of any successful options trading strategy. By combining chart patterns, technical indicators, and fundamental analysis, traders can gain insight into the direction of asset prices and develop a profitable trading strategy. Technical analysis can identify support/resistance levels, determine entry/exit points, or anticipate future market conditions.

Traders use many different types of technical indicators, such as moving averages, oscillators, trend lines, and Bollinger Bands®, among others. Gaining a thorough understanding of how these tools work and how to interpret their signals is essential for making profitable trades in financial markets more reliably.

Applying Risk and Money Management Strategies 

Risk and money management strategies are essential for any successful options trading strategy. By controlling the risk taken on each trade, traders can protect their capital and reduce losses during difficult market conditions. It is recommended that traders utilize stop-loss orders to limit the number of potential losses from a single trade and position size limits, ensuring that no more than a certain percentage of their total account balance is exposed in a single trade.

Traders should also be aware of the impact of fees such as brokerage commissions and taxes, which could eat into profits if not managed properly. These risk management tools can help investors maximize returns while minimizing risks associated with trading options.

Utilizing Volatility Measures in Decisions Making

Volatility is an important consideration for any options trader. By studying the historical volatility of an asset, traders can gain insight into the degree of price movement experienced in the past and make more informed decisions about potential trades. Traders often utilize measures such as standard deviation and beta to gauge the level of volatility present in a particular market or asset.

By examining these measures and other indicators, such as price action and momentum, traders can understand how volatile markets may change and adjust their strategies accordingly. Understanding volatility is essential for any investor looking to succeed with trading options.

Earning Rs 1 crore seems tempting to many people because such a huge amount could provide a comfortable and financially secure life. But it cannot happen overnight. Besides savings, you will have to adopt a clear financial strategy, follow a disciplined approach, and most importantly, invest strategically. One smart way to make Rs 1 crore is to opt for a Systematic Investment Plan (SIP) and watch your returns multiply over time with the help of compounding.

But how much should you invest to reach your goal of Rs 1 crore? The answer depends on a number of factors, including your timeframe, and expected rate of return. That’s where an SIP calculator comes in. With an SIP calculator, you can find out how much you need to invest each month to reach your goal of becoming a “crorepati”. 

How to use an SIP calculator? 

Most reputable financial platforms offer an SIP calculator on their official websites for free. Here’s how to use it:

– Select the investment amount you plan to invest monthly 

– Select the number of years you plan to stay invested for

– Select the expected return rate

Based on the results displayed by the calculator, you can decide on your monthly SIP investment amount and the investment time period to reach the Rs 1 crore goal. 

1. Investment needed to earn Rs 1 crore in 20 years

Using an SIP calculator, you can ascertain that with an expected rate of return of 12% on an equity mutual fund, you would need to invest Rs 10,010 for 20 years to get approximately Rs 1 crore at the time of maturity.  

2. Investment needed to earn Rs 1 crore in 15 years

If you invest around Rs 19,830 per month in SIPs through mutual funds, with an average return of 12%, you will reach your goal of Rs 1 crore in 15 years. Of course, mutual fund returns can vary year-to-year, but long-term SIPs tend to see a lesser impact from market fluctuations. So, if you are consistent with your investments, you should be on track to reach your target.  

3. Investment needed to earn Rs 1 crore in 10 years

To earn Rs 1 crore in 10 years, you would need to invest close to Rs 43,050 per month in an aggressive portfolio (returns are assumed at 12% per annum). In case you start an SIP investment with around Rs 30,000 per month, you can also gradually increase your SIP through the years through the step-up option. 

Why are SIPs helpful in making a huge corpus like Rs 1 crore? 

Most experts believe that SIPs are a convenient way to invest in mutual funds and accumulate a large corpus, especially for investors who cannot make a lump sum investment. 

With SIPs, you can set up a regular investment schedule (weekly, monthly, quarterly, etc.), and the amount can be deducted automatically from your bank account. This makes it easy to stay committed to your investment plan over a long time. 

Also, when you invest in an SIP at regular intervals, the strategy of rupee cost averaging helps you buy more units when prices are low and fewer units when prices are high. Over time, this helps to average out the cost of your investment and maximise returns.

Closing thoughts 

With the right SIP investment, it is possible to save Rs 1 crore. However, it is important to stick to your SIP schedule and stay invested for the long term, irrespective of the market volatility. This is because the power of compounding plays a significant role in multiplying your wealth over time.  

Most people have poor credit histories, and it takes years before they can correct them and get their loans approved. Moreover, the falling economy after the pandemic has contributed to ruining credit scores drastically, as managing funds have become challenging. Bill payment delays and not keeping up with the EMIs fuel the fire, resulting in poor credit scores. 

Now, the challenge is that when your credit score is bad but you need some immediate funds, you cannot opt for loans. Any lender would reject your application after checking your financial history and credit details. Thus, it becomes a challenge to gather enough funds to deal with the debt and sail through the financial crunch. The only option you have in such a situation is the bad credit loans UK. Popularly known as same-day or payday loans, these are available immediately but at a higher interest rate. The best part is that the lender wouldn’t check your credit score, taking a lot of burden off your shoulders.

What You Should Do To Get A Bad Credit Loan

If you are already aware that your credit score is not up to the mark but still requires urgent funds, listed below are the things you can do. 

• Look for an online loan provider and create a list of options that are apt according to your requirements. There will be plenty of choices for payday loan providers, so you can keep narrowing your options based on the market reputation of the lender. 
• Read reviews, and check feedback and ratings of the loan provider you think you can trust. Ensure that every feedback speaks about the seamless loan process and supportive terms. 
• Finalize the amount you need as a loan and ensure the lender you choose offers that amount in their loan options. Even if the lender has options to offer higher amounts, you should stick to your needs and not get carried away, putting yourself in deeper debt. 
• Go through the loan terms by reading the contract thoroughly. Make sure you check every little detail and get your queries resolved before signing up for the loan. People often sign unacceptable terms out of impulsiveness. Thus, it will only lead to future disappointments. 
• Once you choose the lender providing bad credit loans UK, you only have to follow the process. Fill out the online loan application and wait for the lender to approve it. It will only take a few hours, and the money will reflect in your account.

These simple steps can help you get the loans even when your credit score is not in your favour. You only have to stay vigilant, gather all the necessary information and opt for a loan that is readily available at your favourable terms.

Making and managing a portfolio is often the hardest part of investing. You should consider multiple factors like your risk appetite and investment goals and select securities or investment options according to that. But your job doesn’t end there. After you have invested, you should keep a close eye on how your investments are performing and make necessary changes to your portfolio whenever needed. But this could turn out to be a chore, especially if you don’t have the time or expertise for the same.

That is where mutual funds could become useful. Let us explore mutual funds and see if they are a viable investment option for you.

What are mutual funds?

Mutual funds are a form of investment where a fund manager creates a portfolio according to a theme that is decided by the fund house and invests money pooled from different investors. Here, you can choose to invest in a fund that matches your risk appetite and goals. For instance, if you can afford to take higher risk and your goal is to create a corpus in long term, you could invest in a mutual fund that primarily invests in equities.

Steps to investing in a mutual funds

The steps to investing in a mutual fund start from understanding your investment horizon, as said above. Once that is done, with the help of an investment advisor, you can proceed to the below steps.

Choosing which funds to invest in

Mutual funds are designed to make investing easier for you. But, ironically, since you have to choose from two thousand funds, it could become confusing. But approaching this methodically can be of help. It starts from choosing which security you want to focus on in your investments.

Equity vs Debt

Equity and debt are the two most popular security options that mutual fund carries. Most mutual funds are focused on either one. Hence, choosing between the two helps you narrow down your options.

Here, equities are stocks of different companies. Instead of directly investing in them, you could invest in a mutual fund that has equities in its portfolio.

On the other hand, debts are fixed-interest securities like government and private bonds, treasury bills, commercial papers, etc.

Equities tend to give you a comparatively higher potential for returns since it depends on the growth of the stock markets. But there is a higher risk associated with investing in them as stock investments can get volatile.

On the other hand, debt has interest-based and not market-linked. Hence, historically, they tend to give lesser returns than their market-linked counterparts. But the risk associated with investing in them is close to zero.

Here, you could choose in accordance with your risk appetite and goals.

Choose the fund

Once you have chosen what kind of fund to invest in, now is the time to choose the fund. Here, the best course of action is to do proper research to find and compare what will work for you.

Lumpsum vs SIP

Next, you can choose whether you want to invest a lump sum amount of money or as monthly installments. The former method can be used when you have a corpus that you need to grow or park safely. SIPs can be used when you want to build a corpus in a longer time frame.

Direct vs indirect plans

For every mutual fund, you have an option to either directly invest in them or through brokers. If you need to invest with ease, you choose to invest through a broker, but it might cost you a little more. On the other hand, the expenses will be lesser if you choose a direct plan, but you will have to complete the whole process on your own.

Mutual fund investments work the best when you choose a fund that matches your horizon. Hence, make sure you do proper research before investing.

With the look and feel of both cards being very similar, it can be confusing to differentiate between a credit and a debit card. Both types of cards make purchases in stores or online super convenient and easy. And both cards offer you convenience and eliminate the need to carry large amounts of cash.

The major difference between the two types of cards, however, is that in a debit card, you spend money directly from the funds in your bank account. On the other hand, the money you spend via credit cards is borrowed from the card issuer and you will need to repay the borrowed amount by a specific due date. There are limits to the amount that you can spend with your credit card. This limit can be raised over time, especially if you have a good credit history.

What else should you know about credit card vs debit card? Here’s a look.

No Debt in Debit Cards

In comparison with a credit card, a debit card pays using the funds in your bank account, which means that you don’t actually go into any kind of debt. This payment method also ensures that you stay within your budget while spending. However, you could be charged an overdraft or return fee in case you spend more than your bank account allows.

Credit Cards for Credit History

Each time a payment is made using a credit card and then the balance is paid off on time, your credit history starts to build up. When you take a loan for any purpose, the first thing checked is your credit history. Paying off your credit card bill on time each month will have a positive impact on your credit score. It will tell any bank you want to take a loan from that you have a good history of paying off debt. 

Avoiding Bills Later

With a debit card, since the amount is deducted directly from your bank account, you can stay worry-free that there won’t be a surprise at the end of the month in the form of a bill. This also means you do not need to worry about accumulating interest on the bill. Debit cards also help you control your spending and make you more cautious about overdraft and return fees.

Emergency Convenience

In case of an emergency, using a credit card might be much more useful. If you need to repair your house, you can put that charge on your credit card, since it might be an unplanned expense. Your credit card issuer might even give you some grace time to pay the bill. This also gives you a little bit of extra time to pay for things you were not expecting to pay for. 

It might be a good idea to hold both types of cards in your wallet as a precaution. This is because the uses of a debit and credit card differ. Choose a card that offers you cashback and other rewards and matches your expected regular expenses.

There is no requirement to pay for anything when you start a blog using WordPress, with the exception of paying for your Wordpress hosting which is absolutely necessary. With this being said, however, it may be worth taking out a small loan in order to invest in the blog from the beginning, which will give you the very best chance of success. You won’t need much, but with a little bit of financial weight behind you, there is no reason that your blog can’t begin life one step ahead of the rest. 

With the cash that you have borrowed, here is how you can supercharge your blog from the beginning. 

Web Design 

One of the main reasons that people love to use a site such as WordPress is that it helps even the most technophobic person create a great-looking site. Whilst there are a number of tools and preset designs which you can use, your site is still going to look very similar to so many others out there. A much better option would be to pay for the services of a professional. There are many freelance sites on which you can post your job, and work with web designers who will deliver a great-looking site for you. Costs vary depending on what exactly you want for your blog. 

Link Building 

The more website online which have links that point to your blog, the better it will be ranked by the search engines. There is an organic way to go about this, but if you have some money to invest you can use it to really give your blog a boost. There are a number of services online which will help to build links for your site, which will take it one step closer to becoming a monetized blog. 

Social Media Marketing 

Social media is a great free tool that you can use to market your blog, but it is far more effective if you are able to invest some funds. You can use paid advertising to reach your target market and to drive more traffic to your blog. When you invest in this way you can also see insightful metrics which monitor the performance of your ads. The best part about social media ads is that you can set a financial limit, which will help you to avoid overspending. 

Paid Content 

If you are looking to get some really high quality and SEO-performing content for your blog then paying for it is a great way to do just that. There are writers out there with a wealth of experience in creating incredible content, and you can invest some money in designing some high-quality and long-term performing articles which will help to take your blog to the next level. As we have stated, you don’t have to invest in your blog, but in doing so you can increase its chances of success, and speed up the process to making it popular.

Earlier, if one wanted to buy life insurance, they would have the sole option of the traditional life insurance policy only. Now, one has a variety of options to choose from when it comes to life protection. Unit Linked Insurance Plan, or a ULIP, is one such option that has been attracting investors and insurance-seekers alike with the benefit it offers: that of achieving life protection and gaining investment-based returns at the same time. What is even better is that the ULIP policyholder-cum-investor gets the option to switch their investment from debt to equity and vice versa. Let’s take a deeper look.

How do ULIPs work?

When you pay a premium for your ULIP plan, the payment is used by the insurance companies for two purposes. One section of the premium is aimed to build the life cover you want for your loved ones, and the other is invested in market-linked financial instruments. In most cases, if the policyholder passes away, the beneficiaries receive the higher amount between the sum assured or the fund value of the ULIP. The workings of ULIP policies differ from insurer to insurer. 

What is fund switching in ULIP plans? 

The investment portion of your premium can be directed to equity funds or debt funds, depending on the risk appetite of the policyholder. Those looking for a mix of both can also opt for a combination of both. However, it must be said that the risk appetite of individuals shifts as per the changes in their life. Thus, the kind of asset class they want to invest in might also change. Unlike other investment products, ULIPs allow one to make a switch from equity to debt and vice versa with ease and convenience. The process of doing so is referred to as fund switching. 

What to consider before switching funds 

Are you considering moving your funds from debt to equity? Or, from equity to debt? Ensure to consider the following factors before you do so.

The performance of the market 

Equity funds are dependent on market performance. If the market is in a slump, the returns on the funds, too, will perform negatively. If the market is on a high, the returns will soar as well. So, do take a look at the market performance before opting for fund switching in ULIP plans. 

Inflation and rates of interest 

Just as the market affects equity funds, inflation and interest rates affect debt funds. As the rates of interest fall, the value of a debt instrument increases. This means better returns on your investment in debt funds.

The life stage you are at and the consequent financial responsibilities 

The amount of risk you are willing to undertake with your investment changes as you undergo different stages in your life. For instance, individuals in their early to mid-20s are more likely to have a stronger digestibility for risk. They have lesser financial responsibilities and are willing to bear risks in the present to create a more stable future for themselves and their family. On the other hand, when one is 40 years old, they are looking for more stability. They have a family to look after. Financial responsibilities such as children’s current education, their higher studies, and so on loom high. At this stage, one may want to devote 70-80% of their funds to debt funds in their ULIP. 

Charges associated with fund switching

Some insurers might charge you a small fee when you switch funds. They may offer a limited number of fund switches a year, after which you may be charged. However, there are some companies that allow as many free switches a year as the policyholder wants.

Does fund switching incur taxation? 

No, there is no taxation on ULIP fund switching. Instead, one can enjoy a host of ULIP tax benefits with their policy. You can claim deductions up to Rs 1.5 lakhs against your ULIP premium. Furthermore, the various pay-outs, such as the death benefit, the surrender value amount, and the maturity proceeds are exempted from taxation. 

However, note that the maturity proceeds can be taxed if the premiums of ULIPs bought after February 1, 2020, amount to more than Rs 2.5 lakhs. The other ULIP tax benefits, too, are subject to amendments in tax laws. 

Business is all about finding the right niche and working towards realizing it while the time is right. While sometimes, it’s all about actions, capital can make a big difference at other times. That is why procuring a business loan at the right time can give you a competitive advantage.

However, the business loan application process is a little more complex than applying for a personal loan. Your application goes through various stages of assessment for risk and creditworthiness before your business loan eligibility is determined. This could take days or even weeks.

In all this time, not knowing how your business loan application is progressing and by when you can expect a successful disbursal can prove to be costly for your business. Thus, it’s best to stay on top of the application process and track its status regularly. Here’s how you can do it:

Different Ways to Track Application Status

Most banking and financial institutions have established different customer-facing channels to manage loan application processing and subsequent customer service. As a result, you can track the status of your business loan application in three main ways:

Online (by visiting the website): As soon as your business loan application is successfully submitted, the lender generates a reference number or ID. Log on to the lender’s website and create a user account using the loan reference number and provide your personal details, such as full name, contact number, email id, PAN number, date of birth, etc.

Once your account is created, you can check at which stage your loan application is and estimate the time of disbursal.

Via Mobile App: You can also track the status of your business loan application via the lender’s mobile app (if they have any). Simply download the app from their website or the Playstore and create your user account, just like on the website. If you already have the account, you can log in via the mobile app and check the application status using the loan reference number. 

You may be required to verify yourself with an OTP (One Time Password), every time you will require a status update on the app, for security reasons.

Offline:  If you are not tech-savvy and need more personalized support with your loan application, then you can track its status offline too. You can call up the customer service number and provide your loan reference number to track its status. Alternatively, you can visit the lender’s branch office and make personal inquiries with a customer service executive.

By using any of these methods, you can track the status of one or multiple business loan applications any number of times.

Additional Actions to Avoid Delays in Loan Disbursal

Although you can’t make any changes after your application submission, you can follow some best practices to ensure the smoother disbursal of your business loan the next time. To begin with, you can use a business loan EMI calculator to estimate the cost of capital and effectively determine the suitable loan tenure.

You can also compare business loan interest rate to find the most favorable lender and loan type for your business. Your business loan eligibility increases if your credit score is high, and lenders can offer a lesser business loan interest rate. Therefore, before you apply for a business loan, make sure to check your credit score and ensure that it’s in the higher range.

In conclusion, it’s easy to track the status of your business loan application via online and offline methods. Knowing what to check and how to expedite the loan disbursal process can improve your chances of timely loan approval and meet your business needs on time.  

Investments including the ones in mutual funds carry certain risks. Does that mean that you should stay away from them? No, the best way to handle the risk is identifying and understanding it and taking adequate steps to manage it and earn decent returns. Here we talk about mutual funds, one of the most popular investment options and the risks attached to them.

What Makes Mutual Funds Risky?

Mutual funds in India are risky because they invest funds in instruments like debt, equity, corporate bonds etc, the prices of which tend to fluctuate in response to several factors and situations. A decline in the value of investments made by the mutual funds results in a decline in the net asset value or NAV of the concerned scheme. This erosion in the value of investor money can be avoided by analysing the markets, the factors affecting the various instruments and planning and diversifying the investments.

Types of Investment Risk

The nature of risk involved in mutual fund investments depends on the type of instrument in which the fund is investing. While equity funds in India invest predominantly in equity and equity-related instruments and so are subject to market risk, debt funds investing in debt instruments carry the risk of changes in interest rates. Similarly, fixed-income instruments do not have a market risk while equity funds protect against inflation risk. 

Some prominent risks associated with investments in mutual funds are:

• Market Risk or Volatility – Equity funds in India invest mainly in the company stocks whose prices are dependent on several factors like the company’s and industry’s performance besides policy issues. These factors may result in an increase or decrease in the price of a stock. A sharp decline in the prices of stocks or equities can erode the mutual fund NAV of your equity funds.
• Inflation Risk – High inflation levels can negate or reduce the returns derived from the gain in your mutual fund investments. Say if your mutual fund investment grows by 10% in a year and the cost of living rises by 4% during the same time, your real return stands at only 6%.
• Interest Rate Risk – A change in interest rates has a significant impact on the bond prices and the returns of the debt instruments. The interest rates and the bond prices have an inverse relationship which means that as the interest rates rise the price of existing bonds falls as they continue to offer the old interest rates. This interest rate risk varies for bonds with different maturities. While the bonds with longer maturities tend to witness higher price fluctuations, the ones with shorter maturities witness lesser fluctuations.
• Currency Risk – A decline in the exchange rate can reduce your gains or enhance your losses. This is important in the case of foreign currency-denominated funds. The changes in exchange rates may also impact the stock price movement of global companies or companies whose performance is highly dependent on the changes in the currency rates.
• Credit Risk – This refers to the risk of the bond or debt instrument issuer not having enough funds to make the interest payments or redeem the instruments on time. Such risk can be avoided by buying units of funds that invest in securities with high credit ratings or funds investing in bonds of government agencies. 

While all these risks are related to external factors and you cannot control them, diversification of your investments is the best strategy to deal with them.

What is the definition of an open-plan office?

An open-plan workplace, as the name implies, is one in which all workers work on the same level and in the same open space.

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Office cubicles have mostly been phased out in favor of a more collaborative and creatively stimulating workspace environment. For enhanced productivity, flexibility, and networking opportunities, co-working facilities frequently use open-plan office design.

In an open-plan office, how can you remain productive?

When it comes to their office, everyone has their tastes. Some people prefer working in a buzzy, active workplace where collaboration is encouraged, while others prefer quieter, secluded settings. If you enjoy working in the following areas, being productive in an open-plan office is simple:

Working in a fast-paced atmosphere, eager to network with coworkers, and thriving on communication and social interaction

Are eager to share ideas and create a sense of community

Would you like to be a part of a culture or a community?

Although open-plan workplaces are not for everyone, there are some advantages for individuals who love working in a collaborative and fast-paced setting.

Advantages

Collaborations

Employees are more likely to communicate with one another and share ideas when they work in an open setting. Even if you aren’t actively networking, talking to like-minded coworkers and sharing your ideas will undoubtedly ignite creativity and expand the scope of collaborative initiatives.

Networking

This only applies to open offices that have a coworking or hot desk policy in place (where employees from different industries work in the same). Every day, sitting next to a new person fosters the development of new relationships and the opportunity for collaboration.

Relaxed ambiance

The days of office cubicles with no natural light and little human connection are long gone. Having an open plan, communal workspace promotes morale and optimizes workflow, whether you work in a co-working or regular office environment.

Space

The goal of an open workplace is to provide employees more room and freedom. When comparing open plan vs. closed plan offices, an open plan comes out on top in terms of aesthetics:

Cubicles are impersonal and isolated, and in today’s ever-changing world, office design prioritizes communication, collaboration, and happiness. One of the main reasons why open-plan workplaces are beneficial to employee retention and morale is because of this.

Disadvantages

Noise

The noise level is arguably the most prevalent complaint people have about working in an open-plan workplace. If the office is very noisy or you are easily distracted, some employees may find it difficult to take phone calls. Furthermore, with no walls or cubicles to shelter you from office talk traffic, noise flows more easily in an open setting. If you’re looking for a noise-canceling solution for an open-plan office, noise-canceling headphones are a good option.

Distractions

Working in an open office compromises your privacy, and some people may struggle to concentrate on their tasks if they are easily distracted by coworkers. However, if you’re used to working in this type of setting, this shouldn’t be an issue.

Some employees will find it unsuitable.

Senior employees may find the atmosphere to be too unpredictable, making it difficult to focus on their work. Of course, the mood of an open workplace is determined by the individuals who work there, but co-working and hot desk-dominated places are frequently used by creative freelancers who will socialize and network.

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These days, one of the most common practices for carrying out any financial transaction is to do it online. In order to do that, you need to have a savings account. Banks also provide various types of savings account depending on the minimum balance requirement for account maintenance. However, it is a person’s choice to opt for either a zero balance savings account or a normal savings bank account, based on their requirement.

What is a savings account exactly?

A savings account is a bank-provided deposit account into which you can easily deposit your funds. Banks usually provide a savings account with the condition that you keep a certain amount of money in the account, otherwise, you will be charged with maintenance cost.

Here are some of the key features of having a savings account:

• It has a high transaction limit
• Know Your Customer compliance (KYC) is mandatory for such accounts
• A minimum balance must be maintained for such accounts, which may vary across different banks

What is a zero balance savings account?

If you want to open a zero balance account, the procedure can differ from one bank to another. In fact, salary accounts are also sometimes called zero balance savings account as there is no requirement of minimum balance maintenance. The basic concept is simple – you can open a savings account; however, you are not required to keep a minimum balance in it.

Here are some of the main features of a zero balance savings account:

No requirement for minimum balance

As the name suggests, this account is a zero-balance account. Therefore, there is no penalty even if the balance is zero. This is the key attraction for many customers when it comes to opening this type of account.

Easy mode of transaction

You can also use this account to make payments using a variety of net banking options. Further, you can also use this account to pay for your utilities such as phone, water, and electricity bills.

Facility for mobile banking and net banking

You can use net banking to view your bank statements as well as transfer and receive money. And all this you can do from your computer or smartphone.

There are many banks out there ready to offer a variety of savings accounts irrespective of whether you are a homemaker, salaried individual, student, or business owner. While both these types of accounts have their unique features, it is always better to first understand your requirements and then opt for one.

The ongoing pandemic has made us realize how crucial it is to have a health insurance policy as a backup plan. In a race to beat the soaring medical inflation and unpredictable medical emergencies, a health insurance policy is your best friend. However, selecting the right insurance cover can be confusing for a common man. But gathering some basic information about insurance policies like terminologies used, the implication of different clauses, how to optimize coverage can help you seek the right health insurance for you and your family. 

Among these, when it comes to raising a claim, not all claims made by policyholders get sanctioned. Some of these claims can be rejected due to various reasons. This article enlists five such situations where a claim can be denied that you should be aware of. Let’s have a look – 

• Improper information while buying or in claim form

The number one reason for the rejection of a claim is incorrect information. Starting with buying the policy, be it cashless health insurance or reimbursement cover, you must not provide false information concerning your health. This leads to wrong premium determination by your insurer and thereby leading to a rejection of your claim application. On similar lines, mentioning improper information in your claim form about the treatment sought or about the illness can be an outright reason for the rejection of your application. 

• Overlooking terms concerning pre-existing diseases

Some insurance companies may require you to wait for a specific duration to cover already existing ailments faced by you. This duration varies among the insurance companies and is based on the type of pre-existing disease. So, if you happen to overlook these terms concerning pre-existing diseases, your claim application might get rejected. For that reason, it is advised to thoroughly read the policy document before buying the policy and stay informed of any such caveats in your insurance plan. 

• Ignoring the exclusions of your policy

As every insurance policy has an exhaustive list of ailments and treatments covered under it, it also has some exclusions that expressly declare to not cover some treatments or events. These events are known as exclusions. At such juncture, if you make a claim for an event that is not covered by your insurance plan, the insurance company rejects the claim thereby requiring you to bear the entire cost of the treatment. 

• Procrastinating filing a claim

Every health insurance plan, be it an individual policy, family floater or a critical illness insurance, mentions a specific duration within which claims need to be reported to the insurance company. These details are mentioned in the terms of the insurance contract and any delay in such period may lead to rejection of your claim. This depends on the insurance company on what is the duration within which the claim needs to be filed but it is advisable to report at the earliest to the insurance company. 

• Exclusions regarding waiting period 

Every health insurance policy has a specific duration as a waiting period. Here no claims are entertained by the insurance company till the completion of such waiting period. Some of these are generic waiting periods whereas some are case-specific coverage like maternity cover. Thus, any claim during such a waiting period as mentioned in your policy may get rejected. 

Now that you know five of the most popular reasons for rejection of claims, avoid this rookie mistake and stay covered under your insurance plan. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.