Sukanya Samriddhi Yojana (SSY): Empower The Girl Child

Friday, December 7th, 2018 Amritesh no responses

Sukanya Samriddhi Yojana (SSY) is a deposit/investment scheme for Girl Child. It is a Government initiative started vide notification dated 02.12.2014 under the Beti Padhao Beti Bachao (Save and Educate Girl Child) campaign keeping in mind the welfare and educational needs of a girl child. The Scheme is aimed at empowering the girl child, encouraging Parents/Guardian to invest towards their daughter/s future, enabling them to go for higher education or meet any other financial obligations arising later. Government has amended the maturity and withdrawal norms via Sukanya Samriddhi Account Rules, 2016. Those changes have been incorporated in this article. Small Savings Schemes Comparison: Find Out the Best In this post we will look at the Salient Features and Benefits under…

Kisan Vikas Patra (KVP): All You Need To Know

Tuesday, November 27th, 2018 Amritesh 6 responses

Kisan Vikas Patra (KVP) is a guaranteed return certificate scheme re-introduced in 2014. The scheme is mainly targeted at the Individuals who do not have access to proper banking facilities and financial intermediaries. Another reason for re-introduction of KVP is to dissuade lower income group individuals from falling for any ponzi schemes and losing their hard earned money. The features offered is identical to other Savings Scheme offered by the Government but with tweaks in the rate of interest, tenure and benefits. The Investment doubles on completion of tenure. It must be noted, investment in KVP is not eligible for Income Tax deduction and even the interest earned is Taxable. National Savings Certificate (NSC), Equity Linked Savings Scheme (ELSS), Public…

Small Savings Schemes Interest Rates Revised For 3rd Quarter (October-December) Of Financial Year 2018-19

Saturday, September 22nd, 2018 Amritesh no responses

Government has revised the interest rates on popular Small Savings Schemes for the 3rd Quarter of the Financial Year 2018-19. The news is definitely going to delight the investors, as the rates have been raised across popular small savings schemes by up to 40 basis points. Previously, 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…

Online Financial Planning: Simple & Easy Step Towards Smart “Financial Planning”

Tuesday, September 18th, 2018 Amritesh no responses

“Lack of Investment Strategy along with undefined financial objectives is hampering your Financial Planning?” Well, most of the Individuals are often confused when it comes to investment decision. This is largely due to the fact that many of the investors lack the expertise when it comes to choosing the right investment strategy, leading to bad investment decision. Hence, it is important for an Investor to get an expert guidance which would help them choose the ideal investment strategy to accomplish their “Financial Goals”. Online Financial Planning Services is one such platform which helps Individuals with their “Financial Planning”. The service may be easily accessed from the comforts of home or office, enabling Investors to take an informed decision in alignment…

SIP By SIP, Plan for a Secure Future!!!

Tuesday, July 17th, 2018 Amritesh no responses

Ever imagined that securing one’s future could be as easy as taking a “SIP” of Coffee? Sounds weird!!! Well, I’m going to explain as to how one can easily secure his/her future just by being financially disciplined. In my previous post I have already expressed the need to “Plan Your Investment”, in this post I will discuss the possible ways to achieve your Financial Goals with small investments. Attainment of Financial Goals does not necessarily require lump sum investments. The same may be achieved with the combination of smart planning, financial discipline and defined objectives. How SIP helps in “Planning Your Investment”? As all of you are aware, Mutual Fund is fast emerging as the preferred choice of investment among…

Investment in Mutual Funds: All You Need To Know

Thursday, June 28th, 2018 Amritesh 2 responses

Mutual Fund is emerging as the preferred choice of investment among investors. Moreover, since the interest rate in Small Savings Schemes is dropping, Individuals are turning to Mutual Funds. In my opinion too, Investment in mutual fund is one of the effective ways to manage your funds and ensure that one is able to meet his/her future financial obligations. Individuals with minimum or no knowledge about the Capital market may also invest in Mutual Funds and enjoy the benefits of high returns. Even though, investment mutual is prone to market fluctuations, but in the long term the returns are higher as compared to Endowment Insurance Plans or the Fixed Return Instruments. Mutual Fund industry began in India in 1963 with the…

Plan Your Investment: Be Wise, Choose Wise!!!

Tuesday, June 26th, 2018 Amritesh 4 responses

“Investment”, if you go by the meaning of the word, it simply implies the “the act or process of investing money for profit”, it is simple isn’t it??? Well with respect to personal finance, the honest answer is a “Yes” and a “No”, the same will be explained as I continue further. Just at the end of the year 2015, Standard and Poor’s Financial Services released the findings of the Global Financial Literacy Survey, according to the report close to 76% of the Indian adults do not properly relate to the key financial concepts. It is very important to understand the term “Investment” in real term. Individuals without any “Financial Plan” may think this post is not for them but…

Small Savings Scheme Comparison: KVP, NSC, PPF, SSY, SCSS, Tax Saver FD

Thursday, May 17th, 2018 Amritesh one response

Investment in Small Savings Scheme yields guaranteed returns. Individuals invest in small savings schemes not only for guaranteed returns but also with the objective of saving tax. The interest is declared on quarterly basis on Small Savings Schemes. The Public Provident Fund (PPF), National Savings Scheme (NSC), Kisan Vikas Patra (KVP), Sukanya Samriddhi Yojana (SSY) and Senior Citizen Savings Scheme (SCSS) are some of the popular small savings schemes. In this post, comparison between KVP, NSC, PPF, SSY, SCSS and Tax Saver FD (Fixed Deposits) to understand the most attractive Savings plan in terms of return and tax benefit among fixed return investment instruments. However, in my opinion investing in Mutual Funds is a better option as it provides better returns in…

Public Provident Fund (PPF): Should You Invest?

Thursday, April 19th, 2018 Amritesh no responses

Public Provident Fund (PPF) is a small savings investment scheme for the Individuals. PPF yields guaranteed returns on the investment. However, the return is not as attractive as observed in the Equity Mutual Funds or other Securities linked investment plans. But with Long Term Capital Gains Tax (LTCG) being re-introduced on Equity Oriented Funds, it is time to revisit the investment schemes in the current Financial Year 2018-19. Interest Rates on Small Savings Schemes The LTCG tax does bring down the margin of return on investment in Equity Funds. However, one should not panic, as even after the incidence of Tax, the return is expected to be higher when compared to other fixed return instruments. Furthermore, it also allows Individuals…
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