Sukra - Personal Finance

Types of Banks :-
Public Sector Banks :
- State Bank of India (SBI), Bank of India, Canara Bank, Central bank of India, Corporation bank, Indian Bank, Indian overseas bank, Syndicate Bank, UCO Bank
Private Sector Banks :
- HDFC Bank, ICICI Bank, Federal Bank, ING Vysya Bank, Axis Bank, Yes Bank
Foreign Banks :
- [...]

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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 [...]

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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 [...]

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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 [...]

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