HDB Financial Services

The time between the engagement ceremony and marriage is said to be the best for the couple as both dreams of wonderful times ahead together. Planning and dreaming about the future is a preferred way to escape into the future. However, there are a few practical things that also need to be taken care of, the most important one being that of managing money as a couple. Each financial decision after marriage should be taken after discussing with each other, be it about taking a loan against property , buying insurance or opening a bank account. The three most common ways for a couple to manage money are:  Using separate bank accounts  Using joint bank accounts  A combination of separate and joint bank accounts Separate Accounts Prior to marriage, if the couple is habituated to managing their finances on their own using independent bank accounts, keeping separate bank accounts could be a good starting point for most couples. When the couple begins to live together, certain d...

If you are buying a car or replacing an existing one, then this article is for you. These are important decisions and need careful thinking as you will be investing a substantial amount. A vehicle is considered to be a status symbol in our society and till recently, was a privilege of the rich and famous. The pricier the car, the higher one is placed on the societal strata. This drives a lot amongst us to buy a car without giving it a thought about its actual use, the maintenance costs or the depreciation. Time for some introspection Nowadays, one can easily purchase a car by applying for a loan as a car loan and personal loan interest rates can be negotiated and are well within the common man’s reach. Yet, it would be wise to as yourself the following questions before committing to the decision:  When do I need a car?  Will my car be an asset or a liability?  Is it time to replace the old car for a new one?  What should my budget be for the first car? Asset or Liabilit...