Prajna Capital |
| Investing in Mutual Fund SIPs with NACH Posted: 30 Jul 2016 07:36 PM PDT Mutual fund investors doing SIPs will have to use National Automated Clearing House (NACH), a new system of clearing, which has been implemented by National Payments Corporation of India (NPCI), instead of the erstwhile ECS (Electronic Clearing Service). All new mutual fund (MF) SIPs will have to be registered using NACH mandates only. 1. What is NACH OTM (one-time mandate) in mutual funds? NACH is a one time registra tion process which allows an inves tor to register systematic investment plans (SIPs) in MFs. By registering this mandate, you authorise your bank to debit a certain amount to enable investments in a mutual fund scheme. This mandate can either be given for a fixed period (say one year or three years) or perpetual till you cancel it. Every folio needs a separate man date. If you have SIPs in different fund houses, you will have to fill in separate NACH forms. 2. How to register for NACH OTM? Registration is just a one-time process per folio that you hold in a mutual fund scheme. Investors need to fill and submit the duly signed `OTM Form'. The signatures on the form should be as per your bank records because the form will be sent to your bank branch. Investors also need to attach a cancelled cheque which will help the fund house validate the bank account. 3. What details do I need to mention on the OTM form? Besides mentioning regular and mandatory details like bank account number, bank name and branch, contact details, one must also mention the amount or daily limit that can be debited. 4. I have existing SIPs running in mutual funds. Do I need to do anything for that? Your existing SIPs will continue to run till the time you have given an ECS mandate. Once the tenure or current ECS mandate ends, if you wish to renew the SIP, you will have to fill in a NACH form, for the same. ----------------------------------------------- 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: 30 Jul 2016 11:31 AM PDT Invest SBI Magnum Midcap Fund Online The scheme aims to provide investors with opportunities for long term growth in capital along with the liquidity of an open-ended scheme by investing predominantly in a well-diversified basket of equity stocks of Midcap companies. A climber in this space, this fund recorded a middling show until 2010 only to manage a steady improvement in its performance from 2011. From a one-star rating in 2011-12, the fund has climbed to four stars in 2015. The fund isn't defined as a small-cap fund by mandate and seeks to invest 65 to 90 per cent of its portfolio in stocks that figure between the 100th and 400th stock by market cap. The fund is quite true to label, with large-cap allocations rarely crossing the 10 per cent mark. The fund hunts for structural growth stocks, emerging companies in any sector which are growing faster than the peers and companies where there is a turnaround in business fundamentals. A growth-style fund, it also filters for capital-light business models, high scalability, strong management and history of consistent tax payouts. Stocks where promoter holdings are minuscule (at 10-15 per cent or less) are usually avoided.
The good show over three years, with the fund outpacing the category by 7 percentage points, has lifted long term returns as well. The ten-year returns of 15 per cent from this fund, don't build in a very good compensation for taking on the risks of mid- and small-cap stocks. But the returns are nevertheless ahead of the benchmark and the category.
Overall, it's a promising small/mid-cap fund. But monitor it for sustained good ratings. ----------------------------------------------- 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: 30 Jul 2016 10:54 AM PDT Apply for Any Loan Online Cross-check the costs involved and interest rates of a loan, not just the speed of approval, before taking it Are you looking to take a loan from a bank? With the use of technology and ability to access information such as your transactional data, income data and credit scores, existing as well as new customers are able to get faster approvals compared with 2-3 years ago. "For existing customers, we offer pre-approved loans through Net banking. By and large, the turnaround time for loans has been reduced by 50-60% thanks to the use of technology. Overall, we see a lot of enquiry generation through mobile and internet
Many banks even offer instant loans. But faster loans doesn't mean the risks and caveats that a borrower needs to be aware of, change. The basic rule remains the same: don't take a loan you can't service. So, before you are attracted by the speed of getting a loan rather than a real need for it, you need to understand the kind of loan that you are taking and the costs attached to it.
Mint Money looks at three major types of loans that many individuals take and the real cost of taking those loans. Personal loans
Personal loans are easy to get, but expensive to repay. Since a personal loan is an unsecured loan, the interest rate on it is higher-ranging from 11.59% to 32% per annum, depending on your income, profile, the company you work for and residential status. You can get a maximum loan amount of R40 lakh, depending on your job profile. The tenure for these loans is generally 12-60 months. Besides the interest rate, you need to check the processing fee, prepayment charges and late payment charges on the loan. For instance, if you take a R5 lakh personal loan at 14% interest rate for 5 years, you will end up paying back the lender R6.98 lakh. Your monthly instalment will be R11,634. Usually, the processing fee is 0.25-3% of the loan amount, which the banks charge upfront.
So for the same loan amount, if the processing fee is 2%, you will pay R10,000 as processing fee. Some banks charge a flat fee. In case you want to foreclose your loan, the foreclosure charges can go up to 5% of the outstanding loan amount.
Auto loans
Home loans
Along with the charges and interest rates, look at how smooth the process is going to be. Since a home loan is a longer-term loan, you don't want to get stuck with a bank that doesn't service you well. You could talk to people who have already taken a loan from the bank that you plan to approach.
What you need to do ----------------------------------------------- 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. Religare Tax Plan 4. DSP BlackRock Tax Saver Fund 5. Franklin India TaxShield 6. ICICI Prudential Long Term Equity Fund 7. IDFC Tax Advantage (ELSS) Fund 8. Birla Sun Life Tax Relief 96 9. Reliance Tax Saver (ELSS) Fund 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 ----------------------------------------------- |
| You are subscribed to email updates from Prajna Capital - An Investment Guide. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment