jayantharde.com

India Post offers it’s customers the facility of a 5-Year Recurring Deposit   Account which is essentially a deposit scheme allowing customers to add to their savings by investing money which earns interest over a fixed period of time. An RD is usually opened for a fixed period of time and deposits must be made at predetermined intervals which may be monthly, quarterly, depending on the terms and conditions of the deposit scheme. Unlike a fixed deposit, an RD is not a one-time investment and may be closed before its maturity date. The India Post Recurring Deposit Account is an ideal investment option for first time investors or young professionals as it does not require customers to invest large sums of money towards installments but does earn you handsome interest at the end of the maturity period.   Features of India Post Recurring Deposit ·          Customers can open an RD Account with a minimum of Rs 10/- per month or any...

Currently, there are two most popular methods of investing - Fixed Deposits & Debt Mutual Funds. These two methods of investment are normally do meet primary goals of an investor which are low risk investment avenue, seek returns in 5 years & to gain atleast 8% to 9% of rate of returns. But then there are certain aspects like benefits, features that differentiate them & the difference in the way they work can be of advantage or disadvantage depending on the type of investor one is. Debt Mutual Funds Bank Fixed Deposits Return is market dependant hence may vary as per the prevailing conditions Returns are fixed & not subject to any market fluctuations There is a scope for capital gain & loss In FDs, there is no scope for capital gain or loss Tax liability only arises when the investor sells the units of the mutual fund These attract higher tax rate. Tax is also applicable on accrued income which is due to be received There is no concept of premat...

SWP is a facility offered by mutual funds to enable the investors to redeem the units in small portions at regular intervals so that short term goals or monthly income needs are met. The intervals period can range from monthly or quarterly. SWPs are preferred choice by retired individuals as it can help in creating regular flow of income from their investment corpus in mutual funds . Other investors can opt for this to pay EMIs, pay bills, & to take care of other expenses. SWP can be effectively used to make better use of surplus funds as it allows you to invest that amount in mutual fund schemes & facilitates withdrawal as per your requirement. It also offers capital protection as returns on arbitrage funds are risk-free. Benefits Tax Advantage: When one withdraws through SWP, the amount doesn’t attract any tax. All the money withdrawn will be capital itself. Fixed Income: This facility is a good choice for those who are looking for regular income over a...

For more than a century now, post offices have been working in India and their reach is far and wide. They are able to reach even the farthest of rural areas where banks fail to operate. Apart from just delivering mails, post offices have also spread their reach in insurance sector, small savings account scheme and money transfer services. The post office savings account scheme is presently one of the oldest as well as largest banking enterprises in the country. The total number of operative savings account comes up to a total of more than 238 million accounts.The different types of savings account schemes offered by post offices are mentioned below: ·          Post office savings account. ·          Post office recurring deposit account. ·          Post office monthly income account scheme. ·          Post offic...

Post Office Savings Account is similar in many ways to a regular savings account. It is considered to be a highly secure instrument to deposit funds into and offers the option of full or partial liquidation of funds at very short notice in case the need arises. These accounts generally offer a guaranteed return on investment and are ideal for senior citizens and people who are looking to earn a regular income without exposure to risk Post Office savings accounts are also best suited for those individuals living in rural and semi-rural areas, which have limited exposure to banking. Due to the large network of post offices in India, the government introduced the concept of opening savings accounts through post offices, especially since the country-wide reach of post offices is far greater than banks. How to open Post Office Savings Account A Post Office savings account can be opened at any post office with a minimum balance of Rs 20. Single account holders can deposit a m...

Most of us are often tend to ignore the importance of sound policy as we think it not required and what could possibly happen to us. This leads us to believe that life insurance is not worth the money for but a sudden mishap/accident leaves us feeling fearful of the future-for us & our family. There is no two ways about what an individual want- financial security & protection; for which life insurance is the best option available. There are multiple advantages to availing a life insurance plan, let us glance at them: Offers Risk Cover In case of an unfortunate event, you and your family are protected with a high-risk cover. Death Benefits Sudden demise of a family member leaves the dependents grief-stricken and during such situations financial worries should be the least they should think of. An adequate life cover ensures that one’s family is well taken care of in case of such incidents. The insurer pays up the bereaved family the sum assured along with...

The Sukanya Samriddhi Yojana Account is an initiative started by the Government of India with the view of helping the girl child. According to the scheme parents of a girl child can deposit up to 1.5 lakhs in the name of the girl in this account every year. Once the deposit is made it accrues interest at the rate of 9.2% per annum and is set to mature when the girl turns 21 years old or get married, whichever comes first. The account can be opened with a minimum deposit of Rs. 1,000 and subsequent deposits can be multiples of Rs. 100. The account even allows for a partial withdrawal to be made when the girl turns 18 years old to support payments towards expenses for her education or even her marriage. Another advantage of this scheme is that investments in it need to be made only for 14 years after which none are required and the amount at credit at the end of 14 years will continue to gather interest till the scheme matures. How to Open the Sukanya Samriddhi Account? 1. Guar...