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      Small Savings Schemes Interest Rates Retained For 3rd Quarter (October-December) Of Financial Year 2017-18

      Friday, October 13th, 2017 Amritesh no responses

      Government has retained the interest rates on popular Small Savings Schemes for the 3rd Quarter of the Current Financial Year (2017-18). Last Year, Government had decided to align the small savings interest rates with the relevant market rates of Government Securities. The rates are now recalibrated every quarter in order to maintain it at par with the current market rates. The interest rates on Small Savings Schemes are slightly higher as compared to rates offered by Banks. The Central Bank (RBI) had been clamoring for revision in rates as it is leading to distortion in rate structure. Government is trying to provide a level playing field to the Banks by aligning the deposit rates to the market rates. The slashing…

      How to Improve Your CIBIL Credit Score?

      Friday, September 22nd, 2017 Amritesh one response

      Credit Report is a very informative data used to evaluate loan and credit card application, as it provides detailed record of one’s Credit history (Loans, Credit Card Dues, Repayment, etc) and helps lenders to determine the Credit worthiness of an applicant. Earlier, it was a parameter considered only when an Individual used to apply for a new credit card or loans. But now some Companies are asking for the Credit Report even while offering jobs. Therefore, it has become very important to have a Good Credit Score as the implications are high. CIBIL TransUnion Score is a Credit Score given to individuals based on their past financial records. Credit Score is entirely based on the Credit Report prepared from data…

      National Pension Scheme (NPS): Benefits and Drawbacks (Series-2)

      Thursday, September 14th, 2017 Amritesh 2 responses

      National Pension Scheme is one of the Government social security initiatives which aims to provide financial cover to the individuals post retirement. The scheme is being widely promoted by the Government and even Corporate Houses are encouraged to avail the scheme so that employees working in private sector are also benefited from the same.   The National Pension Scheme (NPS) is hailed as one of the cheapest and citizen friendly scheme while Personal Finance experts are terming it as an ordinary retirement benefit plan. However, in my opinion it is a decent retirement plan, and like any other financial product it too has its own shares of pros and limitations. In my previous article, I have discussed about the NPS…

      National Pension Scheme (NPS): Retirement Benefit Plan

      Tuesday, September 12th, 2017 Amritesh no responses

      About National Pension Scheme (NPS): An Insight National Pension Scheme (NPS) is introduced by the Government to provide better Social Security to the Individuals post retirement and help them lead comfortable life. The National Pension Scheme (NPS) was launched on 1st January,2004 and was made mandatory for all Central Government Employees. Since 2009 the Scheme has been opened for all the citizens between 18 years to 65 years of age. The NPS is managed by Professional Fund Managers. Now even various State Governments and Corporate entities have also subscribed to the scheme for the benefit of their employees. Pension Fund Regulatory and Development Authority (PFRDA) formed in 2003 by the Government of India to manage and regulate the Funds under…

      One Stop Solution to Manage Your Investment: ARQ Investment Advisory Engine

      Thursday, August 31st, 2017 Amritesh no responses

      A recent study showed that major portion of the young population is pretty confused when it comes to Personal Finance and matters pertaining to Investment. Individuals need to be prudent when it comes to investment because it is their hard earned money which is being invested with the expectation of maximizing their wealth. The availability of numerous financial products often confuse the Investors even more. However, the advent of technology has simplified the art of investing. I strongly believe that technology has a huge role to play in the Financial World and it is steadily making it presence felt. Technology has ensured seamless Financial transaction across globe but has also brought about great deal of transparency in the Financial dealings.…

      Employees’ Pension Scheme (EPS): Should You Opt for Deferred Withdrawal?

      Wednesday, August 30th, 2017 Amritesh 4 responses

      Recently, Government made amendments to the Employees Pension Scheme (EPS) norms allowing Subscribers to defer withdrawal of pension (After 58 years) for minimum of 1 year and maximum of 2 years along with additional interest of up to 8.16% on actual pension. The amendments offer two options to the Subscriber with regard to deferred withdrawal of the pension fund. First, the Subscriber may continue to contribute to the Pension Fund for the extended period and the same will be considered while calculating Pensionable Salary and Pensionable Service. Second, the Subscriber decides to defer the withdrawal for 2 years but opts not to contribute during the deferment period. Employees' Pension Scheme (Series-1) Benefits Under Employees' Pension Scheme (Series 2) Calculation Of…

      Employees’ Pension Scheme (EPS): Increase Your Pension with Deferred Withdrawal

      Monday, August 28th, 2017 Amritesh no responses

      Government recently made few amendments to the Employees’ Pension Scheme (EPS). These amendments are aimed at reducing the deficit in Pension Fund and provide Subscribers with an option to receive higher pension. The new changes allow Subscribers to defer withdrawal of pension for 1 year or 2 years after reaching the age of 58 but not beyond 60 years. Member will enjoy an additional increase of 4% in case of deferral for 1 year and 8.16% in case of deferral for 2 years. Members will also have the option to contribute to the Pension Fund till the age of 60 which would be included while calculating pensionable service and contribution period. Members who do not wish to contribute during the…

      Power Of Compounding: Invest Early Reap Huge

      Thursday, August 17th, 2017 Amritesh no responses

      “Principle of Compounding” is a very powerful tool in Finance and Economics. Compounding in simpler terms means interest being added to the principal, thus the addition of interest to the principal is called compounding. “Principle of Compounding” means that not only the principal amount earns interest but the interest amount also earns interest (interest on interest). Thus it leads to accelerated growth of Wealth. COMPOUNDING IN PERSONAL FINANCE In “Personal Finance” it is very important to understand the power of compounding as you plan your investment or even when you plan to take a loan. In modern times all the interest calculation is Compounded irrespective of it being a Financial Institution, Bank or any other organization. Hence one has to…

      Direct Equity or Equity Mutual Funds: Plan Your Investment

      Saturday, August 5th, 2017 Amritesh 3 responses

      Investment decisions at times can be very confusing and cumbersome. In current market you have plethora of financial products to chose from which makes the task even more tedious. However, Each Financial Product is designed to meet specific needs and one should understand their purpose before deciding to invest. Pure Investment product is something which should be considered by Individuals as it offers better returns when compared to other Investment Instruments. In this post, I will discuss about strategic advantages one can enjoy by investing in Equity Mutual Funds instead of Direct Equity Investment. Direct Equity Investment is a viable option only for Individuals who have good knowledge about the Stock Market and can afford to devote considerable amount of…

      Portfolio Management: 5 Must Have Investments For Every Individual

      Thursday, July 27th, 2017 Amritesh no responses

      Individuals are often confused when it comes to Investments. It is primarily due to the fact that wide range of products is available for investment. Individuals are often influenced by friends, relatives or even the promotional campaigns used by the BFSI (Banking, Financial Services and Insurance) companies. Thus, in this post I will discuss the 5 most popular Investment Product which every Individual should try to include in their portfolio. The aim is to ensure an ideal balance between Investment, Insurance, Risk and Return. The most important aspect which one should keep in mind while managing their portfolio is to diversify funds into various Investment avenues. This not only helps in mitigating the risk but also ensures that you are…