Loopholes to SAVE more MONEY 💵

[KRISH#7171]

Hello members,

I as mention in title, We have all types of facilities provided by Banks and all, but they earn more from us (It's there right to get more)
But as a user or as a customer its our right OR priority to earn & save as much as more from various method

Kindly share your Thoughts, Knowledge, Ideas, Methods, Tricks, Tips & Looping points of market to save more MONEY

 

[financial12345]

All group member let's initiate some thing please contribute something to this thread

 

[rakesh07]

First - if you are planning to invest your money in banks for a short period of time ie 2/3 years then you can create an FD account in small finance banks where you can easily get 8% - 9%. If you are willing to do so then let me explain with and example -
If you have 15 lakhs to invest then you can create 3 FD's in 3 different banks of same year of time with equal amounts. I am telling this because suppose you invest your 15 lakhs in a single bank which later maybe bank got bankrupt then according to government rules you can only recover 5 lakhs from that amount it means that you have to face lose of 10 lakha that's why I am telling to in multiple banks.
Second - you can invest in T- bills. This is for short period of time mainly 6 months where you can easily get 6% to 6.5% returns safely. I am telling for this because it is started by government so it is much safer than banks.
One way to invest in T- bills is through zerodha.
Thankyou

 

[Kavish Anand]

If you are a salaried person then you have to follow rules that's means. There are three friends with income 20000 one of them expenses are 8000 or for chill 2000 it have 10000 to save he save in bank account but there was 3% interest so his money can 121986 in one year. Second one invest his 10000 in two types 5000 in bank and 5000 in mutual fund with a sip of 5000 after one year his 5000 sip will be invested 60000 and return will 66834 at lowest price of interest of mutual fund 18% rate and 60000 of bank account investment is 60984 total amount is 127818. Third person all his investment is save in mutual fund so his 10000 will 132368 at 18% interest rate. So guys if you want safe one then you go with 12% club app where you gain atleast 9.6 interest rate with a safe hand.

 

[abhimarda]

First - if you are planning to invest your money in banks for a short period of time ie 2/3 years then you can create an FD account in small finance banks where you can easily get 8% - 9%. If you are willing to do so then let me explain with and example -
If you have 15 lakhs to invest then you can create 3 FD's in 3 different banks of same year of time with equal amounts. I am telling this because suppose you invest your 15 lakhs in a single bank which later maybe bank got bankrupt then according to government rules you can only recover 5 lakhs from that amount it means that you have to face lose of 10 lakha that's why I am telling to in multiple banks.
Second - you can invest in T- bills. This is for short period of time mainly 6 months where you can easily get 6% to 6.5% returns safely. I am telling for this because it is started by government so it is much safer than banks.
One way to invest in T- bills is through zerodha.
Thankyou

If you have 15 lakhs to invest and you find one particular small finance Bank offering the highest rate of interest then you can actually put all 15 lacs in one bank only but do it in this way. Open each of the FD for 5 lacs. Just make sure that the account holders or the order of names are different. Like if you (Y), your mother (M) and your Father (F) are the in family, you can open in following ways, one FD in name of Y. Another one in name of Y and M. Another one in name of Y and F. Another one in name of Y, M, F. Another one in name of Y, F, M. For the purpose of DICGC coverage Y,F,M is different from Y,M,F. And you you are ok to change the first holder then you can have even more permutations.

 

[Banny]

If you are a salaried person then you have to follow rules that's means. There are three friends with income 20000 one of them expenses are 8000 or for chill 2000 it have 10000 to save he save in bank account but there was 3% interest so his money can 121986 in one year. Second one invest his 10000 in two types 5000 in bank and 5000 in mutual fund with a sip of 5000 after one year his 5000 sip will be invested 60000 and return will 66834 at lowest price of interest of mutual fund 18% rate and 60000 of bank account investment is 60984 total amount is 127818. Third person all his investment is save in mutual fund so his 10000 will 132368 at 18% interest rate. So guys if you want safe one then you go with 12% club app where you gain atleast 9.6 interest rate with a safe hand.

Could you please explain more about 12% club app? Thanks

 

[abhimarda]

Could you please explain more about 12% club app? Thanks

12% club app is peer to peer lending (P2P) whereby people invest their hard earned money to get 12% return. There are people who want money for short term and the app people will charge them 18-20% and keep their cut and give you 12% out of it. Is it risky? Of course yes! While 12% club or similar apps will claim that they do their due diligence and stuff, no one knows what are their standards. As they grow, they need to loosen the criteria so that they can give more loans. If a larger proportion of the loan takers default, then on a portfolio basis you may get lower than 12% return, worse still you can potentially lose part of your capital. Hence this is much more risky than putting in FD which is guaranteed or putting in a diversified MF whereby the risk is more evenly spread out as compared to personal loans. Rest is as per your risk appetite i.e. how much appetite you have if you were to lose money?

 

[Skylar]

He asked loop holes to save money
Like Tax harvesting, return on spend etc etc.

Not FD's and P2p

 

[nvsaditya]

Could you please explain more about 12% club app? Thanks

My friend had a bad experience as he is unable to withdraw is funds and he kept as no lockin investment. Also though they say 12% it's around 9.5% only

 

[raj164]

Hello members,

I as mention in title, We have all types of facilities provided by Banks and all, but they earn more from us (It's there right to get more)
But as a user or as a customer its our right OR priority to earn & save as much as more from various method

Kindly share your Thoughts, Knowledge, Ideas, Methods, Tricks, Tips & Looping points of market to save more MONEY

A dirty trick I used to do whenever I ordered food from swiggy is i immediately reported it as missing items and the automation bot gave me 70-80% refund without any customer care human intervention i managed to cash out 50-60 k as I used to order for my friends and as well as myself too sometimes got 100% refunded straight back to UPI.

 

[zacobite]

A dirty trick I used to do whenever I ordered food from swiggy is i immediately reported it as missing items and the automation bot gave me 70-80% refund without any customer care human intervention i managed to cash out 50-60 k as I used to order for my friends and as well as myself too sometimes got 100% refunded straight back to UPI.

that is not a loophole.. it is cheating someone..

 

[Bharatiya Nagrik]

A dirty trick I used to do whenever I ordered food from swiggy is i immediately reported it as missing items and the automation bot gave me 70-80% refund without any customer care human intervention i managed to cash out 50-60 k as I used to order for my friends and as well as myself too sometimes got 100% refunded straight back to UPI.

This is not a good thing to do and nothing to boast about. You don't realise but these app keep increasing their charges to cover loses from people who misuse the system. Coz of such abuse the overall costs are increasing.