The Vibe Journal: Finance Blogs

Public Provident Fund (PPF) is an investment plan for individuals that is totally backed by the Government of India. It is known as one of the best long-term savings options. Moreover, you can take out a PPF loan against your balance instead of breaking your savings.  A loan out of the PPF is a smart option for your short-term financial needs, which, at the same …

If you’ve ever taken a close look at the bottom of a cheque, you may have seen a series of numbers in a special font. That’s not just some random numbers; that is what we call the MICR code.  Read on to understand what an MICR code is, its purpose and also how it is relevant in today’s digital banking environment.  What is an MICR Code?  MICR code full form: Magnetic Ink Character Recognition. Banks use this technology for …

If you’ve ever applied for a loan, you’ve probably come across the term collateral. You must have wondered what it means and why lenders care so much about it.  Simply put, collateral means an asset you pledge to a lender as security for a loan. In any circumstance you fail to repay the loan, the lender has the legal right to seize and sell that asset to recover their money.  …

If you’ve ever opened an FD and later thought, ‘I should just move this FD to my spouse/daughter/parent,’ you’re not alone. Deposits are a huge part of how Indian households save. RBI’s household savings publications consistently show deposits as a major component of financial savings.  [Source: Reserve Bank of India]  But here’s the catch: in most banks, an FD is not like a movable asset you can …

GSTIN (GST Identification Number) is your unique GST identity used to log in and file returns. Think of it as your GST ‘account number’ for compliance and tracking. If you’ve ever filed a GST return and wondered, ‘Did it actually go through?’ then, you’re not alone. GST status checking is one of those small habits that saves you from late-fee surprises, missed ITC claims and unnecessary vendor follow-ups.  But the best part is that the official …

TDS (Tax Deducted at Source) is a tax system where the payer deducts a part of the payment as tax and deposits it with the Government, so tax is collected at the time income is earned, not just at year-end.  Now, let’s decode Section 194J of Income Tax Act in a simple, real-life way: whenever a business (or specified payer) pays a resident for professional …

Getting a loan approved feels like a win but before you hit accept, there’s one document you should never neglect: the Key Fact Statement (KFS).  The KFS document is exactly like your loan’s summary card. It gives you a clear picture of the cost, tenure, charges and repayment details, no fine print surprises later. That’s why having a KFS checklist before loan acceptance is a must.  To make things easier, here’s a simple, no-jargon guide covering the …

If you’re taking a loan, chances are you’ve seen 2 important documents pop up: KFS and the Loan Agreement. Most people quickly scroll through them or skip them entirely, assuming they say the same thing. But they don’t.  Understanding KFS vs Loan Agreement can save you from confusion, unexpected charges and post-loan regrets.  Here’s a breakdown about the difference between KFS and loan agreement in simple terms, so you know what to trust, when and why.  What …

When you take a personal loan, the EMI may look like just one fixed amount you pay every month. But there’s more going on behind the scenes. This is where the EMI breakup in the KFS becomes important.  The Key Fact Statement (KFS) is your one-page snapshot of the loan. It clearly shows how much you’re borrowing, how much you repay, and how each …

When you apply for a personal loan, one document quietly does all the heavy lifting — the Key Fact Statement (KFS). It’s short, standardised and designed to tell you exactly what you’re signing up for, without any hidden surprises. Yet, many borrowers either skim through it or don’t fully understand it. Let’s change that.  Here, we’ll break down how to read a Key Fact Statement, what to look for, common …