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Tuesday, May 31, 2016

ICICI Prudential Capital Protection Oriented Fund

 ICICI Prudential Mutual Fund has launched ICICI Prudential Capital Protection Oriented Fund-Series X. The scheme will invest a portion of the portfolio in highest rated debt securities and money market instruments.
 
To provide capital appreciation, it will also invest in equity and equity related securities.The minimum investment required is `5,000 and the fund offer closes on 3 June.
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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 2016

Best 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

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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OR

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LIC Flexi Plus Review

 

Life Insurance Corporation (LIC), a well known name in the insurance industry has again come up with new insurance plans. LIC introduced two insurance policies with the name Flexi Plus and New Jeevan Nidhi in the beginning of the year 2013. Talking about LIC Flexi Plus policy, it is a unit linked policy which offers the benefit of both insurance and investment. Being a unit link plan, this policy offers you a good mix of protection and long term savings under a single integrated plan. This type of policies offers death benefits + maturity benefits irrespective of survival of the policyholder. Which means in case of death of policy holder nominee will get both death benefit i.e the sum assured + maturity benefit i.e the investment part of the policy. So lets have a look at the other features of Flexi Plus insurance plan and see is it worth investing in this policy or not.

Policy Term :- The minimum time that you can choose to invest in this policy is 10 years which can go upto 20 years. So as an investor you have a flexibility to choose the term of the policy i.e for how many years you want to be invested in this policy.

Policy Premium Modes:-  LIC offered all premium modes to make people pay premium amount as per their convenience. The different premium payment modes available are Yearly i.e ones in an year, Half yearly i.e twice an year, Quarterly i.e four times an year or monthly i.e every month.

 

LIC Flexi Plus

 

Policy Premium Amount :- LIC has set minimum and maximum premium amounts for different premium modes. One can decide the premium amount as per his need and pay the same as per the premium payment mode selected.

Premium Payment ModeMinimum PremiumMaximum Premium
YearlyRs 15,000Rs 100,000
Half-YearlyRs 10,000Rs 50,000
QuarterlyRs 5,000Rs 25,000
MonthlyRs 2,000Rs 8,000

Investment :- Flexi plus plan offers you to choose out of two investment funds i.e Debt fund and Mixed Fund. LIC will then invest the amount allocated for investment in the fund type chosen by the investor. Here is the details of the fund types:;-

Fund TypeGovt. Securities/ Govt. Guaranteed securities/ corporate DebtsShort term investment like money market instrumentsListed Equity SharesRisk/ Return
Debt FundNot less than 60%Not less than 40%Low Risk
Mixed FundNot less than 45%Not less than 40%Not less than 15%Steady Income with Medium Risk

Partial Withdrawal :- Policyholder can make partial withdrawal of funds in case of some financial emergency or otherwise after 5th policy anniversary.

Grace Period :- Like other policies LIC flexi plus gives a grace period of 1 month for the payment of policy premium to the policyholder in case of yearly, half-yearly and quarterly premium payment modes and 15 days for monthly premium payment.

Eligibility :- To buy this policy your age should be between 18 to 50 years. Any one less than 18 years or above 50 years will not eligible to get into this policy. The maximum maturity age is 60 years which means whatever your age at the time of purchasing this policy your policy will mature once you complete 60. So you should choose the term of the policy according to your current age.

 

Sum Assured :- In flexi plus insurance plan the sum assured will be higher of :-

10 times the annual premium

OR

105% of the total premiums paid including any premiums which have fallen due but not paid)

So if your premium payment mode is yearly and you choose to invest Rs 15,000 for 10 years then your sum assured will be higher of :-

10 * 15,000 = 1,50,000

OR

105/100 * 1,20,000 = 1,26,000 (Suppose you have paid yearly premium for 8 complete years)

So your sum assured will be Rs 1,50,000 which is higher out of above two cases.

Charges :- Like other unit linked plans insured will charge different charges like premium allocation charges, mortality charges etc. Here is the complete description of the charges levied on this policy.

  • Premium Allocation Charges: In ULIP insured deducts a part of the annual premium paid by the policyholder for providing different services. So LIC will deduct this charge before making any investment.
PremiumAllocation Charge
1st year premium7.50%
2nd – 5th year premium5%
After 5th year3%

 

  • Mortality Charges: Insurance company offering life cover charges mortality charges. It varies with the age of the insured and sum assured. Mortality charges gets deducted on a monthly basis.
  • Other Charges: The following charges shall be deducted during the term of the policy:
    • Policy Administration charge – This charge shall be deducted on monthly basis which will be Rs 50 for the first year, Rs 44.20 for the 2nd year, Rs 42.44 for the 3rd year, Rs 43.71 for the 4th year, Rs 45.02 for the 5th year and Rs 34.78 thereafter.
    • Fund Management Charge – This is a charge levied as a percentage of the value of assets at following rates:
        0.50% p.a. of Unit Fund for "Debt" Fund
      • 0.60% p.a. of Unit Fund for "Mixed" Fund
  • Switching Charge – If you plan to switch to mixed fund from debt fund or vice versa than this switching charge will be levied on you. Although this plan allows 4 switches within a given policy year free of charge. Subsequent switches in that year shall be subject to a switching charge of Rs. 100 per switch.
  • Discontinuance Charge – Due to some reason if you plan to discontinue your policy within first 4 years of the policy then you will have to pay discontinuation charges. Check discontinuation charges on your policy documents.
  • Service Tax – This is a charge which is levied by the insurance company as per the service tax laws and rate of service tax as applicable.
  • Miscellaneous Charge – This is a charge levied for an alteration within the contract, such as change in premium mode to higher frequency, and shall be a flat amount of Rs. 50.

Policy Surrender :- If policyholder want to surrender his policy within 5 years from the date of commencement of policy then you will have to pay surrender/ discontinuation charges and you will get the fund value of your units. But if you surrender after completion of 5 years then no surrender charges will be deducted and you will get the fund value of your units without any deduction.

Other Features

Guarantee of interest rate on Discontinued Policy Fund: Discontinued policies will get guaranteed interest rate as applicable to SBI saving bank account.

Cooling off period: If you don't find the terms and conditions of the policy as per your need than you can return the policy and get your money back within 15 days. You can apply to return the policy within 15 days from the day you receive the policy and your company will deduct some charges like medical examination charges, administration charges etc. and refund your money.

Loan : This insurance plan does not allow you to get loan based on your policy.

Exclusions: In case ofIn suicide by policyholder within one year from the date of purchase of policy, insurance company will not be liable to pay any claim by virtue of the policy except to the extent of the Policyholder's Fund Value on death.

Whether To Invest In LIC Flexi Plus Or Not ? Conclusion

This is a normal unit link plan where you get a good mix of insurance + protection. The most attractive feature of the policy is it gives death + investment benefits to the nominee in case of death. This is a plus point of this policy as there are very less amount of policies in the market which offers this both death & maturity benefit. In most of the other policies in case of death of the policyholder only sum assured is given to the nominee not the investment benefits.

Secondly if you are worried about the charges applicable on ULIP plans then it will be useful to know that the charges applied on ULIPs cost you almost half as compare to the charges applied on mutual funds. As in case ULIP the charges are applied on the premium you pay whereas on mutual funds expense ratio applies on the total AUM (Asset under management).

Other than this you have more investment options to consider. Here is a list of investment options which will offer you tax deduction under section 80C.

 

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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 2016

Best 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

Invest Online

Download Application Forms

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

-----------------------------------------------

Partial withdrawal from PPF

 Public Provident Fund (PPF) account has a lock in period
 
If you opened a PPF account to meet your retirement needs,, think twice about withdrawing from this fund before retirement. But provided it's an emergency here are the rules. Public Provident Fund (PPF) account has a lock in period before which you cannot withdraw your money.
 
The partial withdrawal is allowed after the completion of 6 financial years. This means that you will be allowed a partial withdrawal from 1 April 2017. The maximum partial withdrawal allowed is the least of the following:
  • 50 percent of the account balance at the end of fourth financial year, 31 March 15
  • 50 percent of the account balance of the end of previous financial year, 31 March 17.
 
There's a loan option available on your PPF account between the fourth and the sixth financial year. You can obtain a loan of up to 25 per cent of the balance in your account. However, this will attract interest of 2 percent more than the prevailing PPF interest rate.
-----------------------------------------------
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 2016

Best 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

Invest Online

Download Application Forms

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

-----------------------------------------------

Medical Cover From Life Insurance Companies

Medical Cover From Life Insurance Companies
 
Life insurance companies, too, have started offering health plans. Most of these are, however, defined benefit plans - the pre-specified amount which is the sum insured is paid as compensation, irrespective of the actual amount of expenses incurred.
 
Also, these are long-term, having a fixed premium for, say, three, five, or even 10 years. If you opt for a good combination of basic mediclaim, family policy and a critical illness plan, then these are not needed.
-----------------------------------------------
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 2016

Best 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

Invest Online

Download Application Forms

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

-----------------------------------------------

Gold Loans Eligibility

Apply for Gold Loans Online 

 Gold Loans Eligibility

Determinants of Eligibility for Education Loans
Age of the Applicant
  • Minimum 18 years of age
What Gold Can One Borrow Against
  • Gold ornaments with karatage in the range of 18 to 24 karats
  • Specially minted gold coins sold by banks with a weight of upto 50 grams
  • One cannot borrow against gold coins, gold bars, gold funds (gold Exchange Traded Funds) and specially minted gold coins of banks weighing more than 50 grams
Maximum Loan Amount
  • Maximum amount varies from lender to lender
  • Majority of lender banks fund up to 25 lacs
  • For existing customers with a good credit history, some banks may provide loans up to Rs 1 crore
Rate of Interest
  • Currently, 12.5%- 26% depending on tenure, loan size and loan to value (LTV) ratio
  • Most gold loans are on a fixed rate basis, which means that the interest rate charged remains fixed over the loan tenure
  • State Bank of India (SBI) and Federal Bank now offer floating rate gold loans benchmarked to their base rates with a spread of 2.5 to 4.0%
Security, Loan to value (LTV), Margin
  • Most banks and NBFC's fund up to 75% of the average market price of 22 carat gold (adjusted for relative purity of gold pledged)
  • Average market price is calculated as the closing price of 22 carat gold for the preceding 30 days
Repayment FrequencyBoth bullet repayment and EMI options are available on gold loans
  • Bullet Repayment: Simple interest is paid at monthly/ quarterly rests and principal is repaid on maturity date
  • EMI Repayment: Equal installments comprising interest on a declining basis and a portion of principal amount is paid every month
Repayment Period
  • Majority of gold loan schemes are with tenure of up to 12 months
  • However, a few banks such as HDFC Bank, SBI and Kotak Bank offer gold loans with tenure of up to 36 months for large value loans
Processing Fees
  • Mostly fixed nominal processing fees of Rs 200 - 550
Prepayment Charges
  • Most gold loan schemes carry zero prepayment penalty
  • Few banks offering fixed rate gold loans charge 1 - 3% prepayment penalty
Documentation
  • Basic KYC documents (PAN, Address proof, passport size photograph)
  • Verification of ownership of jewelry where gold pledged is more than 20 grams
  • Banks may ask borrower to have a savings account with the bank for availing gold loan
Processing Time
  • NBFCs - a few minutes to an hour as they have in-house gold valuation experts at their branches
  • Banks - up to a day or two
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 Saving Mutual Funds to invest in India for 2016 or Best 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

Invest Online

Download Application Forms

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

Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now
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