Monday, November 23, 2015

Prajna Capital

Prajna Capital

LIC Housing Finance

Posted: 23 Nov 2015 05:52 AM PST

 

LIC Housing Finance

LIC Housing Finance Ltd. promoted by Life Insurance Corporation of India, is one of the largest Housing Finance Company in India. LIC housing Finance is regulated by National Housing bank.

LIC Housing Finance is mainly engaged in the business of providing long term housing loans to individuals for purchase or construction or repair and renovation of new / existing residential properties. LIC Housing Finance also provides loan against existing properties for business or personal needs and for professionals for purchase or construction of nursing home, clinics, diagnostic centers, office space, etc.LIC Housing finance also provides financial assistance to builders and developers. 

One of the most popular product of LIC Housing Finance is "Griha Prakash", which is designed for individuals to provide finance for purchase or construction or repair and renovation of new / existing residential properties.

LIC Housing Finance offers maximum loan amount of 85% for property costing below Rs. 20 lakhs and 80% for above Rs. 20 lakhs. This amount includes stamp duty and registration charges. This loan amount can be repaid by way of Equated Monthly Installment (EMI) within tenure of 240 months i.e. 20 years.

Other products of LIC Housing Finance are:-

"Griha Vikas" is a home equity product where loan is provided by LIC Housing Finance against mortgage of residential or commercial property for purpose of any personal needs for child education, child marriage, foreign travel or financial needs for business. 

The minimum loan amount an individual can borrow under this scheme is Rs. 2 lakhs and has to be repaid by way of Equated Monthly Installment (EMI) within a period of 15 years.

To avail "Griha Vikas" the age of the property to be mortgaged should not be more than 35 years.

"Apna Office -1" is a loan from LIC Housing Finance to professional for purchase, repairs and renovation of commercial property to carry out professional activities and also to buy equipments. The minimum loan amount to be borrowed under this scheme is Rs. 5 lacs and can be repaid within a period of 10 years.

"Reverse Mortgage Loan" for senior citizens who can borrow against their existing self-acquired and self-owned property. 

The loan is provided by LIC Housing Finance through monthly / quarterly / half-yearly / annual disbursements or a lump-sum or as a committed line of credit or as a combination of the two. The maximum tenure of the loan is 15 years. The borrower can continue to stay in the residential property as long as his is alive and after him, his spouse can stay till her/his death. You can even prepay the loan, whenever you feel so during the tenure without any prepayment charges. 

The only pre-condition is the borrower should be the owner of a self-acquired and self-occupied house or flat located in India, with clear title indicating the ownership of the property. The residential property should be free from any encumbrances and the residual life of the property should be at least 20 years. 

LIC housing finance charges a processing fee of 1% of loan amount for all the loans

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
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Universal Account Number (UAN) for Provident Fund

Posted: 23 Nov 2015 02:41 AM PST

 

Universal Account Number (UAN) for Provident Fund

Retirement Fund body Employees Provident Fund Organization (EPFO) has been very quick in assigning Universal Account Number (UAN) to the members who are currently contributing to the Provident Fund.

What is Universal Account Number (UAN)?

Universal Account Number is a unique 12 digit portable number assigned to a member of EPFO i.e. person registered with EPFO and currently contributing to it. This UAN will become the identity of the member till his retirement.

Features and Benefits of UAN

  1. UAN will make hassle free transfer of PF balance while switching jobs.
  2. Employee can view PF Balance, File and View Transfer Claim Status, Download UAN Card, Update KYC norms etc.

Since UAN is to be allotted to only contributing members, all the dormant/inactive account is going to get closed.

Have you got your UAN? If not, then before reaching to your employer, first check whether you have been allotted UAN or not by EPFO.

 

How to Check Universal Account Number Status of Provident Fund?

Step 1: Start with clicking on the link: – http://uanmembers.epfoservices.in/

The above link is for employees, there is a separate link for employers: –https://employerclaims.epfoservices.in/

Step 2: On the upper left side, click on the blinking text "Know your UAN Status"

Universal Account Number (UAN)

Universal Account Number (UAN) Portal

Step 3: Fill out the required details in the next page "Check UAN Status"

Universal Account Number (UAN) Status

Universal Account Number (UAN) Status

  1. Select the state where your office s registered. It may be different from the state in which you work. The best way to know it is to check the first 2 letters of your PF number. The first two letters denotes the state for example RJ for Rajasthan, HR for Haryana, MP for Madhya Pradesh and UP for Uttar Pradesh.
  2. Second box is for selecting the PF office region. Once again this can be confirmed by the next 3 letters of your PF number.
  3. As soon as you hit enter the first two column of the next row will be filled automatically.
  4. Third box should be filled with the organization number. First set of digits of your PF number denotes the organization number. You can check it with your colleagues as they should have the same the organization number.
  5. In the EXT box you need to fill the extension, it may be 000 or any word letter. You can better leave it empty if it's not in your PF number.
  6. The last box of A/C no. is the box where you need to put your unique PF number.

Step 4: As soon as you hit Check Status button, a message will appear that UAN is allotted or not.

Universal Account Number (UAN) Status

Universal Account Number (UAN) Status

How to Get UAN from your Employer?

In case the above status shows that you have been allotted UAN number by the EPFO, than you should approach your HR asking about it.

how to get UAN from your employer

how to get UAN from your employer

How to activate your UAN?

Once you have got your UAN, the next step is to activate it.

  1. Login into http://uanmembers.epfoservices.in/
  2. Click on the "Activate UAN Based Registration" and check the read and understood the instructions box.
  3. Enter your UAN Number, Mobile number, member id and select state and office.
  4. Click on the GET PIN button after entering the case sensitive words.
  5. You will then receive an authorization PIN code on your mobile.
  6. Put the PIN received in the box and hit submit button to activate your UAN.

At this phase your UAN is verified and activated. On the next screen you will have to create your login credentials i.e. user name and password.

How to Download your UAN Card?

1 Login to http://uanmembers.epfoservices.in/ with the username and password you have created in the above step.

  1. Hover on the download menu and click the option "Download UAN Card".
  2. Again Click on the "Download" button present on the screen. You can either take print out or save it on your computer.

In case you need any help or have any query, you may contact:

Helpdesk Number: 1800 118 005

Helpdesk Email Id: uanepf@epfindia.gov.in

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

Education Loans Documents needed

Posted: 23 Nov 2015 12:29 AM PST

 

Documents you need to submit

There are a list of documents to submit for loan approval llike admission proof, income proof and course related documents

 

Different banks have different document requirements for granting education loans. But here are some of the documents you will typically have to submit along with your loan application: 

1. Mark sheets of the last qualifying examination. 

2. Proof of admission/ scholarship. 

3. Schedule of expenses for the specified course. 

4. Bank account statement for the last six months. 

5. An income tax assessment order for the previous two years. 

6. A brief statement of assets and liabilities of the co-borrower, which is usually the parent or guardian, and proof of income, if any. 

Some banks require all or any of the following as pre-sanction documents for an education loan. These should be furnished along with the completed application form. The relevant information of both the guardian and the student should be given when the student loan is jointly taken: 

1. Mark sheets of the qualifying examinations for school and graduate studies in India. 

2. Proof of admission to the course. 

3. Schedule of expenses for the course. 

4. Copies of letters confirming scholarship, etc. 

5. Copies of foreign exchange permits, if applicable. 

6. Passport-size photographs. 

7. Statement of the borrower's bank account for the past six months. 

8. Income-tax assessment order not more than two years old. 

9. Brief statement of the borrower's assets and liabilities. 

10. If you are not an existing bank customer, you will also need to give proof of identity and residence. 

Note: the specific list of documents varies from bank to bank. 

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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