Information of Indian financial products - Banking, Investments, Mutual Funds, Fixed Deposits, Loans and Insurance. Invest in India.
National Savings Certificate (NSC)
National savings certificate (NSC) are certificates issued by Department of Post, Government of India. You can buy the certificate in any post office.
Currently NSC provides an interest rate of 8.0% compounded annually.
- Certificate is Backed by Government of India
- Principal Amount is assured / guaranteed
- Certificates are transferable to any person.
- Income tax benefit
If the certificate is lost due to theft, fire or mutilated, a duplicate certificate is issued with proper verification.
Kisan Vikas Patra
Kisan Vikas Patra are available through the Post offices. They are one of safest investment tool, as it is backed by Government of India.
The investment doubles in specified number of years (depending on the interest rate).
Currently the amount doubles every 8 years and 7 months.
That gives you 8.40% compounded annually.
- Certificate is Backed by Government of India
- Principal Amount is assured / guaranteed
- Patras are transferable to any person.
- Nomination facility is available
New Pension System (NPS)
It is a pension scheme introduced by government of india in 2009.
You open the Permanent Retirement Account (PRA) with one of the Point of Presence (POPs). The savings you put into the account is managed by the pension fund managers. The pension fund managers invest the money in 3 different asset classes 1) Government Securities 2) debt instruments like corporate bonds and fixed deposits and 3) Equity.
Permanent Retirement Account (PRA) -
- Minimum contribution per year is Rs.6000 and you have to make a minimum of 4 contributions of Rs. 500 each in a year.
links
Partner Links
The fee to add your website link in this page is Rs. 3000.
Rajapalayam
A website about the Rajapalayam City. It gives information like schools, attractions , businesses and industries in rajapalaym.
Sri Saravana Fabrics
Textile weaving company specialized in grey cotton fabrics. The weaving mill produces woven gray fabrics using air jet looms.
Home Loan Insurance Policy
Home loan insurance policy is also called as mortgage redemption plan covers your home loan balance payment when something unfortunate happens to you.
Types / Choices
- Term plans in which Sum assured is adjusted against your home loan liability.
- Sum Assured remains constant during the term of the loan
- Choice of one time premium or regular premiums
Premium is based on the Loan tenure, amount of the loan, age of the person and medical history.
Events covered by the policy
- Critical Illness
- Permanent disability
- Death
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Public Provident Fund - PPF
This is also called PPF - 15 Year Public Provident Fund. The scheme was introduced by the Central Government of India in 1968.
Individuals can open the account in any branch of State Bank of India, Nationalised banks and in Post Office. Only one account is allowed per person. The duration of Fund is for 15 years.
Investment Amount :-
Minimum deposit of Rs.500 and a maximum of Rs. 70,000 can be made in 1 year.
Rate of Interest :-
Rate of Interest on Public Provident fund is 8% per annum as of 2007.
Income Tax Benefit on Home Loans
Principal and Interest payments on home loans are eligible for tax benefits under the Income Tax Act, 1961.
Resident Indians -
Interest repayment of Rs. 1,50,000 per year can be deducted under Section 24(b). This will reduce your tax liability by about Rs. 50,490 per year.
Principal amount upto Rs. 1,00,000 per annum can be availed under Section 80©. This will get you a tax saving upto Rs. 33,660 p.a.
For more information - http://in.taxes.yahoo.com/homeloan.html
Home Loan Types
There are different types of Home Loans available.
Home Purchase Loans -
Home Purchase loan is used to buy a new or used property.
Home Improvement Loans -
Home Improvement loan is used to improve your home. Purpose of loan is to finance External and Internal Repairs, renovation and any additional construction. They are also called as Home Extension Loans
Home Equity Loans -
Home Equity Loans can be used for any purpose like wedding, education etc.
Bridge Loans -
Investing in Gold
Gold is valued as a global currency. It is a safe haven in uncertain times and hedge against inflation. You should invest at least 10% of your portfolio in gold.
Demand :-
Mine Production is unable to fulfill the Global Demand. The supply deficit is fulfilled by Gold reserves of Central Banks. Most of the central banks have identified the importance of gold as a monetary asset. Hence, demand may rise from Jewellery / Retail and Governments.
Historical Gold Price :-
Gold Chart in Rupee
Gold Chart in Rupee
