Prajna Capital |
- ICICI Prudential Tax Plan Dividend Reinvestment
- Education Loans offer Tax benefits and Home loan offer Interest rate benefits
- Credit card reward Points
| ICICI Prudential Tax Plan Dividend Reinvestment Posted: 23 May 2014 05:02 AM PDT Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Leave a missed Call on 94 8300 8300
ICICI Prudential Tax Plan - Invest Online
ICICI Prudential Mutual Fund has announced to discontinue the fresh subscriptions under dividend reinvestment option under direct and regular plans of ICICI Prudential Tax Plan.
The aforesaid change will be effective from June 01, 2014.
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
Leave a missed Call on 94 8300 8300
Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund Application Forms ---------------------------------------------
Best Performing Mutual Funds
B. Large and Midcap Funds Invest Online
C. Mid and SmallCap Funds Invest Online
D. Small and MicroCap Funds Invest Online
2.Franklin India Smaller Companies E. Sector Funds Invest Online
F. Tax Saver Mutual Funds Invest Online 1. ICICI Prudential Tax Plan 2. HDFC Taxsaver
G. Gold Mutual Funds Invest Online
H. International funds Invest Online 1. Birla Sun Life International Equity Plan A 2. DSP BlackRock US Flexible Equity 3. FT India Feeder Franklin US Opportunities 4. ICICI Prudential US Bluechip Equity 5. Motilal Oswal MOSt Shares NASDAQ-100 ETF |
| Education Loans offer Tax benefits and Home loan offer Interest rate benefits Posted: 23 May 2014 04:30 AM PDT Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Leave a missed Call on 94 8300 8300
Going to a financial planner for the first time? Be ready for this question — How much have you borrowed? But a financial planner won't consider all loans as bad. If there is a big amount on the credit card, he will ask you to pay it immediately. If you are short of cash and the bill is too high, he may even advise you to take a personal loan. After all, a personal loan comes at 15- 20 per cent whereas credit card companies charge over 40 per cent annually. But some loans like an education loan have actually created an opportunity for the generation to fund themselves even before they are his goals achievable. It boosts his capacity to acquire assets. It gives an individual confidence to fulfil his materialistic aspirations.
Provides tax advantage
There are two loans that immensely help an individual by getting her some tax relief. These are home loan and education loan. Any time any individual takes a home loan from an HFC ( housing finance corporation) the interest that he pays and the principal payback up to ₹ 1 lakh gets exempted from tax liability every financial year during the lifetime of a loan account. The interest amount is capped at ₹ 1.5 lakh if it is for a self- occupied house and if it is for a let- out property, there is no cap on the interest amount exempted An education loan creates a culture encouraging youngsters to pursue their academic dreams and not feel paralysed due to unavailability of funds at their personal level. This deduction u/ s 80( E) is allowed only if the education loan is taken from any financial institution or approved charitable institution. Education loans from relatives and friends do not qualify. Also, the exemption u/ s 80E is allowed to be claimed in the year in which the individual starts paying the interest on the education loan and in seven succeeding years.
Building credit history/ score
Any loan taken from a financial institution puts the borrower's PAN under observation throughout the loan period. The Cibil ( Credit information transaction details of every borrower from the financial institution that lends the money to the borrower. Since the records are centralised with Cibil, every bank before processing anew application checks the applicant's PAN with Cibil to check if the borrower has had any defaults on his part on previous loans. The credit score plays a critical role in the loan approval process. An individual's Cibil credit score provides a credit institution with an indication of the probability of default of the individual based on his/ her credit history that is, the past pattern of credit usage and loan repayment behaviour. Credit history is an important part of financial record. And loans play an important role in building one's credit history.
Inculcating a sense of financial discipline
When an individual is taking a loan he is giving a commitment to the lending institution to pay equated monthly instalments for the lifetime of the loan. He is ensuring that his accounts have sufficient balance to pay an instalment every month for the loan he has taken. This builds a sense of financial discipline in the person. The person also understands that if he defaults, he would be ruining his credit record with Cibil which will make his/ her new loan applications in future difficult to get approved.
Financial independence
Gone are the days when you would turn to family and friends for financial help. With the loan eligibility an individual can always borrow money from a lending institution and set out on the path of financial independence. The only favour you would need from your close relatives and friends is to ask them to be your guarantor and assure them of your repayment capability through EMIs. Loans have helped people become responsible and mature in their financial transactions. On a softer side it has benefited individuals become confident and competent in managing their financial life. When should loans be avoided? Watch out for the following when deciding to take a loan.
Is a loan being taken for an appreciating asset or depreciating asset? Any loan taken on an appreciating asset like a house or education loan that builds human capital value, creates financial leverage i. e. the borrowed money creates more money than it costs. Tax exemptions, capital value appreciation and increase in human capital value drive leverage. Loans on depreciating assets like electronics and cars must be avoided unless you don't have the lump sum to make 100 per cent down payment. Is this loan an unsecured one? Home loans and auto loans ( commonly known as secured loans) are likely to be better than unsecured loans because secured loans are cheaper and secured loans impact one's credit score favourably. Credit card loans and personal loans are two prime examples of unsecured loans that must always be avoided. Is a loan being offered at a competitive rate? Understanding the cost of borrowed money is very important. If the loan product is not competitively priced, it must be avoided.
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
Leave a missed Call on 94 8300 8300
Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund Application Forms ---------------------------------------------
Best Performing Mutual Funds
B. Large and Midcap Funds Invest Online
C. Mid and SmallCap Funds Invest Online
D. Small and MicroCap Funds Invest Online
2.Franklin India Smaller Companies E. Sector Funds Invest Online
F. Tax Saver Mutual Funds Invest Online 1. ICICI Prudential Tax Plan 2. HDFC Taxsaver
G. Gold Mutual Funds Invest Online
H. International funds Invest Online 1. Birla Sun Life International Equity Plan A 2. DSP BlackRock US Flexible Equity 3. FT India Feeder Franklin US Opportunities 4. ICICI Prudential US Bluechip Equity 5. Motilal Oswal MOSt Shares NASDAQ-100 ETF |
| Posted: 23 May 2014 02:29 AM PDT Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Leave a missed Call on 94 8300 8300
Devendra Kumar saved ₹ 200250 on airline tickets from Mumbai to Raipur when he redeemed the reward points accumulated on his credit card. In his case, these were accumulated on a Payback card, linked to his ICICI Bank credit card.
Dipen Kutty purchased a Nokia Lumia mobile phone worth ₹ 9,000odd for around ₹ 6,000. The rest of the money was paid for by the reward points he had accumulated on his Citibank credit card, from other purchases.
The trick is in knowing how the discount and reward schemes on credit and debit cards work and how to make the most of them.
Reward schemes
Credit and debit cards offer reward points through cash back, cash discount, discount on next purchase, air miles or frequent flier rewards, and fuel point rewards. Points can also be redeemed for gifts and merchandise. One can avail of discounts on credit programmes, which could be available on movie tickets or restaurants.
Many of these discounts are also available for online booking and shopping. Another method is real- time burn offers, which is redeeming the points instantly at the store. Several online stores offer real- time redemption, too.
How points accrue
The way points accrue varies from card to card. In general, card holders get one reward point on every ₹ 150 spent. Apart from regular points, the card provider also offers bonus points. It could be for occasions such as the cardholders birthday, for the first time the card is used or shopping at a partner location. While choosing a card, it is important to compare not only the reward points but also the redemption value of those reward points and opt for the one offering more benefit.
For instance, one card company or bank might offer one point for every ₹ 100, while another might offer three points on every ₹ 150 spent.
Even rules for redeeming the points can be different. One airline card may offer one point equal to one air mile, while another could offer four points equal to one air mile.
Watch the fine print
Reading the fine print and billing statements is the best way to stay up to date with any changes or developments in the reward system
For instance, in case of many credit cards, the reward points accumulated can only be redeemed for purchasing their listed merchandise on their own website. This restricts the choice for the cardholder.
In fuel credit cards, the points can be redeemed only at specific petrol stations and only when swiped at the EDC machine of that particular card provider. Sometimes, this is the condition for getting the accelerated or bonus reward points, too. So, you have to fulfill both conditions, of specific fuel pumps and using the specific machine for swiping to get the accelerated reward points.
In the case of airline cards, discounts might be available only if you book through the partner airlines website and you could miss out on the lowest- priced air tickets available on travel portals. Reward points will not accrue if you are not regular with payments. If you're one of those who's always behind time with payments and have to pay late fees frequently, you might not get any reward points. Hence, a healthy payment record always helps.
Expiry dates are another tricky condition. You might want to save your reward points to redeem against abig- ticket purchase you are planning. But in case of many cards, the points are available only for one year. If you dont utilise it within that year, they will lapse. In some cases, there could be additional processing fees while redeeming the points
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
Leave a missed Call on 94 8300 8300
Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund Application Forms ---------------------------------------------
Best Performing Mutual Funds
B. Large and Midcap Funds Invest Online
C. Mid and SmallCap Funds Invest Online
D. Small and MicroCap Funds Invest Online
2.Franklin India Smaller Companies E. Sector Funds Invest Online
F. Tax Saver Mutual Funds Invest Online 1. ICICI Prudential Tax Plan 2. HDFC Taxsaver
G. Gold Mutual Funds Invest Online
H. International funds Invest Online 1. Birla Sun Life International Equity Plan A 2. DSP BlackRock US Flexible Equity 3. FT India Feeder Franklin US Opportunities 4. ICICI Prudential US Bluechip Equity 5. Motilal Oswal MOSt Shares NASDAQ-100 ETF |
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