Prajna Capital

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• Education Loans Guarantors or Collateral
• Catholic Syrian Bank
• CITI Bank Credit Card

Education Loans Guarantors or Collateral Posted: 13 Oct 2015 07:56 AM PDT   Do I have to provide guarantors or collateral? For loans below Rs. 4 lakh, banks may not require collateral but above that, collateral and guarantor both   You need to have a guarantor for the education loan to be sanctioned. If you fail or are incapable of repaying the student loan, the guarantor will have to clear the debt. Usually, most banks require the guarantor to have a net worth and/ or annual income equivalent or more than the education loan amount.  Only education loans above Rs 4 lakh require tangible collateral, security for the full value of the loan or third-party guarantee, depending on the amount. However, the co-borrower -- the parent or guardian - is required to furnish his/her bank account statement, tax returns of the last two years, statement of assets and liabilities and proof of income.  The usual security that banks accept are National Savings Certificates (NSCs), bonds, gold, vehicle, house, property, etc.  Loans above Rs 4 lakh and up to Rs 7.5 lakh: Collateral in the form of a suitable third-party guarantee. The bank may, at its discretion, waive third-party guarantee if satisfied with the net worth / means of the parent who is executing the document as a joint borrower.  Loans above Rs 7.5 lakh: Collateral security of a suitable value or a suitable third-party guarantee, along with the assignment of the student's future income for payment of installments.  When the education loan amount is greater than Rs 1 lakh, banks usually prefer students who have life insurance policies equivalent to, or more than, the education loan amount. This is nothing more than a security feature and also forms part of your collateral. If something unfortunate happens to the borrower, the bank does not lose money and can recover the outstanding amount from the insurance policy.  Some banks have tied up with specific institutions to provide education loans to students for select courses. In such cases, the banks may be willing to forgo collateral requirements.  Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015 1. BNP Paribas Long Term Equity Fund 2. Axis Tax Saver Fund 3. IDFC Tax Advantage (ELSS) Fund 4. ICICI Prudential Long Term Equity Fund 5. Religare Tax Plan 6. Franklin India TaxShield 7. DSP BlackRock Tax Saver Fund 8. Birla Sun Life Tax Relief 96 9. Reliance Tax Saver (ELSS) Fund 10. HDFC TaxSaver Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online Invest in Tax Saver Mutual Funds Online Invest Online Download Application Forms For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call --------------------------------------------- Leave your comment with mail ID and we will answer them OR You can write to us at PrajnaCapital [at] Gmail [dot] Com OR Leave a missed Call on 94 8300 8300 Invest in Tax Saving Mutual Funds Download Any Application Forms Buy Mutual Funds Online Invest Online Buy Gold Mutual Funds Invest Now

Catholic Syrian Bank Posted: 13 Oct 2015 07:28 AM PDT   Catholic Syrian Bank The Catholic Syrian Bank Ltd, started on 26th November 1920, is a private sector bank with good presence in South India, especially Kerala. During the first two decades of its functioning, the Bank concentrated only in Kerala. In August 1969, the Bank was included in the Second Schedule to the Reserve Bank of India Act 1934. In 1975, the Bank attained the status of "A" Class Scheduled Bank when its total Deposits crossed Rs.25 crores. At present, the bank has a network of over 364 branches which includes NRI/SSI/Industrial Finance and Service branches. The Bank also plans to open more number of branches in a phased manner.  Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015 1. BNP Paribas Long Term Equity Fund 2. Axis Tax Saver Fund 3. IDFC Tax Advantage (ELSS) Fund 4. ICICI Prudential Long Term Equity Fund 5. Religare Tax Plan 6. Franklin India TaxShield 7. DSP BlackRock Tax Saver Fund 8. Birla Sun Life Tax Relief 96 9. Reliance Tax Saver (ELSS) Fund 10. HDFC TaxSaver Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online Invest in Tax Saver Mutual Funds Online Invest Online Download Application Forms For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call --------------------------------------------- Leave your comment with mail ID and we will answer them OR You can write to us at PrajnaCapital [at] Gmail [dot] Com OR Leave a missed Call on 94 8300 8300 Invest in Tax Saving Mutual Funds Download Any Application Forms Buy Mutual Funds Online Invest Online Buy Gold Mutual Funds Invest Now

CITI Bank Credit Card Posted: 13 Oct 2015 05:07 AM PDT   CITI Bank Credit Card Citibank, one of the leading foreign banks operating in India, till recently, had the largest credit card base in India. Citibank has more than 27 types of credit cards on offer, including many affinity cards such as Citibank IndianOil card, First Citizen card, and Maruti Suzuki Auto Card. The women's Visa Mini card offers discount on home improvement products. Citibank has Visa, MasterCard and Diners card. Features Card Name CITIBank-Silver Card CITIBank -Gold Card CITIBank-Platinum Card Network Master Master Visa Joining Fee (in rupees) Free Free 1000 Annual Fee (in rupees) 350 NA 1000 Add On Card - Issue Fee Free NA NA Interest Rate -on revolving Credit 45.75%p.a 45.75%p.a 45.75%p.a Interest Rate -on Cash Withdrawal 45.75%p.a 45.75%p.a 45.75%p.a Interest Rate - on Balance Transfer 1.49% 1.49% 1.49% Reward points You earn 1 Rewards Point for every Rs. 200 spent on the Card. Earn 1 Rewards Point for every Rs. 150/- spent 1. Earn up to 5 Reward Points on spend of Rs. 125 at select merchants Surcharge on Fuel 2.5% (subject to a minimum of Rs. 10) waived at IndianOil outlets for transactions done on Citibank EDCs 2.5% (subject to a minimum of Rs. 10) waived at IndianOil outlets for transactions done on Citibank EDCs 2.5% (subject to a minimum of Rs. 10) waived at IndianOil outlets for transactions done on Citibank EDCs Cash Withdrawal Fee 2.5% (subject to a minimum of Rs. 250 and US $5 at International ATMs) 2.5% (subject to a minimum of Rs. 250 and US $5 at International ATMs) 2.5% (subject to a minimum of Rs. 250 and US $5 at International ATMs) Late Payment Charges Rs 300 for bills upto Rs 10000,Rs 600 for the bills upto Rs 10001-25000,Rs 700 for the bills above Rs 25000. Rs 300 for bills upto Rs 10000,Rs 600 for the bills upto Rs 10001-25000,Rs 700 for the bills above Rs 25000. Rs 300 for bills upto Rs 10000,Rs 600 for the bills upto Rs 10001-25000,Rs 700 for the bills above Rs 25000. Late Payment Fee NA NA NA Overlimit Charges 2.5% of the amount over the Credit Limit (subject to a minimum of Rs. 500) 2.5% of the amount over the Credit Limit (subject to a minimum of Rs. 500) 2.5% of the amount over the Credit Limit (subject to a minimum of Rs. 500) Maximum Credit Free Period Up to 30 days Up to 30 days Up to 30 days Please add service tax @ 12.36% to all interest and charges * For account holder Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015 1. BNP Paribas Long Term Equity Fund 2. Axis Tax Saver Fund 3. IDFC Tax Advantage (ELSS) Fund 4. ICICI Prudential Long Term Equity Fund 5. Religare Tax Plan 6. Franklin India TaxShield 7. DSP BlackRock Tax Saver Fund 8. Birla Sun Life Tax Relief 96 9. Reliance Tax Saver (ELSS) Fund 10. HDFC TaxSaver Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online Invest in Tax Saver Mutual Funds Online Invest Online Download Application Forms For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call --------------------------------------------- Leave your comment with mail ID and we will answer them OR You can write to us at PrajnaCapital [at] Gmail [dot] Com OR Leave a missed Call on 94 8300 8300 Invest in Tax Saving Mutual Funds Download Any Application Forms Buy Mutual Funds Online Invest Online Buy Gold Mutual Funds Invest Now

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