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Rural Electrification Corporation (REC) Tax Free Bond
Rural Electrification Corporation (REC) Tax Free Bond Tax free bonds have emerged as a popular investment option due to the taxation benefits they offer. The interest income on this bond is exempted from taxation. AAA/Stable by CRISIL and AAA rating by CARE & ICRA makes it highly secure & safe regarding timely servicing of financial objectives Notified as Public Financial Institution, Rural Electrification Corporation Ltd. is granted “NA...
Bank Interest rates - Check latest Interest rates offered by different banks in India
   Check latest Interest rates offered by different banks in India Bank Name Bank Website.   Click here to know the interest rates  SBI  Visit bank  ICICI Bank  Visit bank  Citi Bank  Visit bank  HDFC  Visit bank  Axis Bank  Visit bank  Andhra Bank  Visit bank  ...
MAHATMA GANDHI PRAVASI SURAKSHA YOJANA (MGPSY)
  MAHATMA GANDHI PRAVASI SURAKSHA YOJANA (MGPSY) Ministry of Overseas Indian Affairs has introduced a Pension and Life Insurance fund scheme called Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY) for the Overseas Indian workers having Emigration Check Required (ECR) passports. The objective of MGPSY is to encourage and enable the overseas Indian workers by giving government contribution to: · Save for their Return and Resettlement (R&R) · Save for their old age, · Obtain a Life I...
SBI raises fixed deposit rate by 0.2% on select maturity
  SBI raises fixed deposit rate by 0.2% on select maturity Days after RBI hiked short-term lending (repo) rate by 0.25 per cent, State Bank of India (SBI) today raised fixed deposit rate by 0.2 per cent on select maturity. With the revision, term deposit between 180-210 days less than Rs. 1 crore would now earn 7 per cent against existing 6.80 per cent, SBI said in a statement. The new rate would be effective from tomorrow, it added. However, there is no change in the interest rates for othe...
All about Chit Funds
  All about Chit Funds   Chit Funds is a more than 1000 years old micro finance instrument used for both borrowing and saving of money at the same time.  The concept of Chit funds in Kerala came into being in the 1800's when Raja Rama Varma, ruler of former Cochin state gave a loan to a Syrian Christian trader, keeping a certain portion with himself for administrative and other expenses. Later, to manage the increasing demand for loans, he ordered a cast of lots and gave the accumulated amount to...
SBI Gold Deposit Scheme
SBI Gold Deposit Scheme SBI Gold Deposit Scheme (GDS) is in the nature of a fixed deposit in gold. The customers can deposit their idle gold under GDS which will provide them safety, interest earnings, tax benefits and a lot more. Under this scheme, you can deposit minimum 500 gram of gold with SBI and maximum as much as you want. Many Temples and trusts in India deposit literally hundreds of KGs of gold every year with SBI. Once you deposit your gold with SBI, The gold deposited is melted, assayed (tested) and mint...
Nine Fundamentals for Generating Income in Retirement
  Key points   ·         Have a plan to move from saving to spending as you transition to and live in retirement. ·         Following nine fundamentals can help you create a sound, long-lasting income plan. ·         Helpful information for anyone in or approaching retirement. So you've saved diligently and carefully for retirement—no...
What is National Pension System (NPS)?
What is National Pension System (NPS)? The Government of India (GOI) has rolled out the NPS for all citizens of India from May 01, 2009. The person (employee/citizen) who joins the NPS will be known as ‘Subscriber’ in the NPS. Under the NPS, each Subscriber will open an account with Central Recordkeeping Agency (CRA) which will be identified through unique Permanent Retirement Account Number (PRAN). Under NPS, two types of account would be available to subscribers i.e. Tier I & Tier II; Ti...
What are ETFs?
What are ETFs?   ETFs are mutual fund schemes and, like stocks, they are listed and traded on the stock exchanges. The prices of such funds are valued continuously and can be purchased/ sold throughout the trading day. This flexibility in buying and selling allows investors to take advantage of the intra-day price movements.   In comparison, those investing in a traditio...
Gold Accumulation Scheme
Gold Accumulation Scheme Gold Accumulation Plans (GAPs) are similar to conventional savings plans in that they are based on the principle of putting aside a fixed sum of money every month. The fixed sum then buys gold every trading day in that month. Like other unregulated investment schemes, there is an element of risk in joining various types of Gold accumulation schemes (Gold Purchase Plan) offered by jewelries. These types of gold purchase schemes are totally unregulated and highly risky.  Un...

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