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| Jeevan Suraksha Deposit Scheme Posted: 15 Jul 2016 03:17 AM PDT Government today (9th August, 2015) launched a new drive called Suraksha Bandhan. Under this, you will get the different types of Jeevan Suraksha Gift Cheques (or Jeevan Suraksha Deposit Scheme). This scheme is going to be special on this year's Raksha Bandhan Festival (Rakhi Festival). You can gift these Jeevan Suraksha Gift Cheques Under this scheme, you can buy either Gift Card or Banker's cheque and gift it to your loved one. The receiver of this gift card must visit her Bank (if already have Bank Account) or open a zero balance account and deposit this gift card. These gift cards available in three denominations of Rs.201, Rs.351 and Rs.5,001. #1: Pradhan Mantri Jeevan Suraksha Deposit Scheme Rs.201. Under this Gift card, you are gifting your loved one to cover their accidental insurance for Rs.2,00,000 under the scheme of Pradhan Mantri Suraksha Bima Yojana (PMSBY). The rest of the amount will be converted to 10 years Bank FD at a rate of 8% per annum. Rs.201 will be used in below manner.
#2: Pradhan Mantri Jeevan Suraksha Deposit Scheme Rs.351. Under this Gift Card, you are gifting Rs.351 to buy Rs.2,00,000 of Accidental Insurance under Pradhan Mantri Suraksha Bima Yojana and Rs.2,00,000 of Life Insurance under Pradhan Mantri Jeevan Jyoti Bima Yojana. Rs.351 will be utilised in below manner.
#3: Pradhan Mantri Jeevan Suraksha Deposit Scheme Rs.5,001. Under this Gift Card, you are gifting Rs.5,001 to buy Rs.2,00,000 of Accidental Insurance under Pradhan Mantri Suraksha Bima Yojana and Rs.2,00,000 of Life Insurance under Pradhan Mantri Jeevan Jyoti Bima Yojana. The rest of the amount will be deposited in a bank to facilitate the premium for both the schemes on a yearly base. Rs.5,001 will be utilised in below manner.
Few Conditions–
----------------------------------------------- Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds Top 10 Tax Saving Mutual Funds to invest in India for 2016Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund 2. Axis Tax Saver Fund 3. Franklin India TaxShield 4. ICICI Prudential Long Term Equity Fund 5. IDFC Tax Advantage (ELSS) Fund 6. Birla Sun Life Tax Relief 96 7. DSP BlackRock Tax Saver Fund 8. Reliance Tax Saver (ELSS) Fund 9. Religare Tax Plan 10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online 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 ----------------------------------------------- |
| Posted: 14 Jul 2016 08:58 PM PDT You are probably the most vulnerable when it comes to debt traps as you start working. With few responsibilities and the new-found power of money and credit card, it's difficult to curb the consumerist urges. You should understand the difference between needs, wants and greed. Credit card is not the only path to debt hell. Here are the various ways you can plunge into liabilities when you start working: If you roll over credit card dues: When I started earning, I had a card with a limit of `40,000, but I got so carried away that once I spent `45,000 in a month. That was a wake-up call. I repaid the amount and stopped using the credit card. He hasn't carried out a single credit card transaction in the past six months. Nayyar, on the other hand, has avoided this situation with discipline and smart usage. I use a mix of credit and debit cards. The credit card is used only to earn and re deem points. He also makes sure to pay the entire bill every month and has never rolled over the due amount. This is a cardinal rule for credit card usage. Do not roll over the due amount and repay in full because the cards charge a very high interest of nearly 3% a month. So if you get a bill of `10,000 and pay only the minimum due amount of 5%, you will have to pay an extra `21,978 after a year. Fix a spending limit for yourself, say, 20% of your income. But if you can't discipline yourself, use a debit card There are so many lucrative offers on cards that people don't think twice about taking these up.Avoid buying expensive gadgets on loan even if these comes with 0% interest offers. These will add up and impact your other investments. If you take too many loans: The easy option of buying on credit can be your downfall if you do not set limits. Taking a personal loan while running loans for a car and a home can strain your finances, making it difficult to invest or save. As a rule, do not spend more than 40-45% of your income on loan repayments. Of this, 25-35% should be for home loan repayment and the rest for other forms of debt, including car and credit card loan. If you take personal loan for spending: Given the ease of securing a personal loan with pre-approved amounts, it is easy to give in to the urge. Know that personal loan is one of the most expensive forms of loan after credit cards and charges 20-24% interest per annum. Avoid these at all cost. If you buy a house with high EMI: Buying a house is a dream for most new earners, but consider several factors before taking the big decision. Know the difference between fixed and floating rate loans and understand how EMIs are calculated Understand that the EMIs for a home loan are big and a long-term commitment. So you need to be sure of your earning capacity on a sustained basis, otherwise it will turn into a liability that will impact all your other goals. If you sign on as a guarantor for a loan: When you are single and employed and have friends you can't refuse, you can be an easy target for a debt trap. If you sign on as a guarantor for a friend's loan, understand that if he cannot repay the loan, you will be asked to do so. The guarantee amount will show as outstanding liability in your credit card and affect your loan eligibility. So think twice before agreeing to such an arrangement. If you don't budget: If you fail to keep track of your expenses on a monthly basis, there is a good chance that you will run out of funds before the month ends. You may then have to consider loans to fulfil your needs. ----------------------------------------------- Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds Top 10 Tax Saver Mutual Funds to invest in India for 2016Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund 2. Axis Tax Saver Fund 3. Franklin India TaxShield 4. ICICI Prudential Long Term Equity Fund 5. IDFC Tax Advantage (ELSS) Fund 6. Birla Sun Life Tax Relief 96 7. DSP BlackRock Tax Saver Fund 8. Reliance Tax Saver (ELSS) Fund 9. Religare Tax Plan 10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online 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 ----------------------------------------------- |
| Posted: 14 Jul 2016 10:32 AM PDT Mutual Fund NAV Online The net asset value of a fund makes no difference to its returns. Consider a fund for its performance, not its NAV
If there is one myth that fund distributors love to propagate, it is that a fund with a low net asset value (NAV) is cheaper. 'The NAV is just R10,' is their sales pitch. As a result, investors flock to new fund offerings (NFOs) to exploit this so-called cost advantage.
In actuality, the NAV is totally irrelevant and should not even be considered when making an investment. Not convinced? Let's say that two funds have identical portfolios. One has been around for a while and the other is a newly-launched fund. As the value of their (identical) holdings increase, the NAV will rise by the same percentage. So investors in both will benefit equally.
To put it numerically, let's say the NAV of the two funds are R10 andR50 and they rise to R11 and R55, respectively. So it might appear that one has just risen by a rupee while the other by R5, but in reality, they have both shown a 10 per cent rise.
Of course, the number of units held would differ. A low NAV would imply a higher number of units and a high NAV would indicate a lower number of units. So let's say you invest R5,000. It would get you 500 units with an NAV of R10 but only 100 units if the NAV isR50 (assuming no entry load). Yet, in both cases, the value of the investment is identical. So R5,000 invested in each would show the same gain. The 500 units (for which you paid R10/unit) would rise to R5,500 at R11 per unit. The 100 units (for which you paidR50/unit) would rise to R5,500 at R55 per unit.
The 'cost' of a scheme in terms of its NAV has nothing to do with returns. What you want to buy in a scheme is its performance, not its NAV.
The only instance where a higher NAV may adversely affect you is where a dividend has to be received. This happens because a scheme with a higher NAV will result in a fewer number of units and as dividends are paid out on face value, higher NAV will result in lower absolute dividends due to the smaller number of units. But even here, total returns will remain the same. So from whichever angle you see it, the NAV makes no difference to returns. Mutual fund schemes have to be judged on their performance. And the simplest way to do this is to compare returns over similar periods.
The confusion over NAV arises simply because investors view a fund's NAV like a stock price. Nothing could be farther from the truth. The current price of a stock could be much lower or higher than its actual value. But the NAV just reflects the current value of the portfolio as it is.
Next time you are evaluating a fund, take a good look at the portfolio and returns over various time periods. Remember, it is the stocks that the fund manager has invested in that determine the returns. The value of the NAV is immaterial. ----------------------------------------------- Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds Top 10 Tax Saver Mutual Funds to invest in India for 2016Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund 2. Axis Tax Saver Fund 3. Franklin India TaxShield 4. ICICI Prudential Long Term Equity Fund 5. IDFC Tax Advantage (ELSS) Fund 6. Birla Sun Life Tax Relief 96 7. DSP BlackRock Tax Saver Fund 8. Reliance Tax Saver (ELSS) Fund 9. Religare Tax Plan 10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online 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 ----------------------------------------------- |
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