You are frustrated about your bank not passing interest rate cuts to you. You are not alone. They are many borrowers like you. Even the Reserve Bank regularly expresses its displeasure since monetary transmission is affected if the bank don’t pass the rate cuts swiftly to the borrowers. The Reserve Bank tried to bring many measures to hasten the transmission and bring relief … [Read more...] about A home loan that is truly floating
LIC has recently launched a new moneyback plan: LIC Bima Shree (Plan 848). The plan is quite similar to LIC Jeevan Shiromani, that was launched a few months back. There are only a few differences (or those that I could see). LIC Jeevan Shiromani has an inbuilt critical illness plan. LIC Bima Shree does not have it. With LIC Bima Shree, you can purchase critical illness … [Read more...] about LIC Bima Shree (Plan no. 848): Middle class’s LIC Jeevan Shiromani
Have you shifted your NPS PoP to eNPS? We know that shift to eNPS helps reduce the cost of investment by a small margin. However, once you have shifted to eNPS, you may face a problem in updating details in your NPS account. After all, now, you don't have a physical PoP. If you have to submit a form or document, you can't do it visiting a bank branch (PoP). As I … [Read more...] about How to update information in your NPS account through eNPS portal?
Many investors look towards Small Savings Schemes not just as tax-saving options but also as reliable means of investment. However, you do not always earn a constant rate of return on these investments. The interest rate keeps fluctuating. Interest rates for the small savings schemes get revised every quarter i.e. the Ministry of Finance notifies these rates every quarter of … [Read more...] about Latest PPF, Sukanya Samriddhi, SCSS, Small Savings Scheme Interest Rate (January-March 2018)
The Govt. of India announced 7.75% Savings (Taxable Bonds), 2018 recently. Let’s understand the salient features of these bonds and whether you should consider investing in these bonds. Firstly, these are not new bonds. The Govt. withdrew 8% taxable bonds (2003) recently and has introduced these new 7.75% taxable bonds, 2018 in its place. The earlier bonds had a maturity … [Read more...] about 13 Things to know about Govt. of India 7.75% Savings (Taxable) Bonds, 2018
Conventionally, when you borrow, you borrow from an institution, say a bank or a Non-Banking Finance company (NBFCs). In case of Peer-to-Peer lending, you don’t borrow from an institution. Instead, the lenders are common individuals like you and me. To put it another way, in case of peer-to-peer lending, both the borrower and the lender are common individuals. Please … [Read more...] about All you need to know about Peer to Peer Lending Platforms
On a recent visit to a leading jeweller, I came across a gold scheme. Typically, the gold schemes go like this: You pay a fixed amount (instalment) every month and at the end of a specific period, you can purchase jewellery from the jeweller. Of course, the jeweller gives you an incentive to participate in such a scheme. In this, I will discuss Golden Harvest Scheme … [Read more...] about Is it wise to invest in Gold schemes by Jewellers?
Aadhar is assuming greater and greater importance in our lives. We are required to link our Aadhar information to bank accounts, investments, insurance, mobile connections, PAN card and at many more places. In addition, even from a transaction standpoint, Aadhar verification is required to get new mobile connections, file income tax returns etc. Aadhaar verification is … [Read more...] about How to check online where and when your Aadhaar has been used for Authentication?
Atal Pension Yojana (APY) was launched to provide life-long pension to the underprivileged and workers in the unorganized sector. If you join the scheme, the Central Government guarantees you and your spouse a minimum pension for life. Atal Pension Yojana (APY): Benefits and Scheme Details Based on your contribution per month, you will receive a minimum guaranteed pension … [Read more...] about Atal Pension Yojana (APY): Features, Benefits, Tax Treatment and Review
Though I have talked about the difference between Tier 1 and Tier II NPS accounts in many of my earlier posts, I still receive a number of queries from investors asking about the difference between the two. In fact, I had a query where the investor invested in Tier 2 NPS to avail tax benefit (figured out later). Therefore, I think it will be useful to dedicate a post to the … [Read more...] about What are Tier 1 and Tier 2 NPS accounts? What is the difference?