Skip to main content

Gift Cards

Download Tax Saving Mutual Fund Application Forms

Invest In Tax Saving Mutual Funds Online

Buy Gold Mutual Funds

Leave a missed Call on

94 8300 8300

Gift Cards





Looking for the perfect gift for your loved ones? A gift card from a bank is a cool option because it lets the recipient buy the stuff he wants. It is also a safe way to introduce youngsters to plastic

 

1 What are gift cards?

Gift cards are a cool alternative to cash or gift vouchers that tie recipients to a particular store and leave them with limited choices. Several banks, including SBI, Central Bank of India, ICICI Bank, HDFC Bank, Axis Bank and IDBI Bank offer these pre-paid cards. You can buy one over the counter at designated branches of these banks. The card is activated as soon as the bank receives the payment. The service providers are either MasterCard or Visa. You don't have to be a customer of the bank to buy the card. However, it helps if you have an account, otherwise you need to provide Know Your Customer (KYC) documents such as address and identity proof. While KYC details of the recipient are not required, you will have to mention his name, address and contact details. Some banks like HDFC Bank and SBI allow personalisation of the card by letting you add the beneficiary's name on them.

2 How do they work?

Gift cards can be used at any establishment that accepts plastic. Some gift cards like those issued by the Central Bank of India and Axis Bank can be used for online shopping as well. These cards work just like debit cards. Every time the user makes a purchase, the amount is deducted from the balance. The card can be disposed of once the balance is exhausted. Some cards like the ones from Axis Bank come with 4-digit PINs that allow them to be used in ATMs to know the balance amount. But you can't use them to withdraw cash. Some banks even let you check the balance online. For most others, however, the user must approach the call centre to know the balance in the gift card.

3 What are the features?

A number of banks offer gift cards. While some finer details may vary, the broad features remain the same. The card can be loaded with any amount between `500 and `50,000 and the amount has to be exhausted within three years. Till recently, the validity was one year. There is a card issuance fee of around `100, plus taxes. HDFC Bank is offering a 50% discount on issuance fee till 31 December 2014. There is no transaction charge and the gift card can be used for multiple transactions. But if you use another bank's ATM to know the balance, there will be a transaction charge of about `8. Also, the user will have to pay any surcharge applicable on the transaction. For instance, if you use the card to buy petrol, you will have to bear the surcharge payable on such transactions.

4 Can you get a refund?

Gift cards cannot be reloaded once the balance is used up. When the validity expires, even if there is some balance remaining in the card, some banks may not allow the card to be used. For instance, Central Bank of India's Cent Gift Card does not allow unused funds to be redeemed after the validity expires. But some, like Axis Bank, do allow unused funds to be withdrawn. But the original card purchaser (not the recipient) must take the card to an Axis Bank branch where the bank will refund the balance (minimum `100) after deducting some charges. This refund can be claimed within three months from the date of expiry of the card. If the card has a PIN and the recipient forgets it, the original buyer will have to step in again. The bank will give a new PIN, but only to the original buyer.

5 What to do if card is lost?

Like any another card, a gift card too can be lost or stolen. The first thing to do is inform the bank about it, so that the card can be deactivated to prevent possible misuse. Some like the ICICI Bank gift card comes with zero card liability once the loss of card has been reported to the bank. After this, the card holder will need to file a police report and submit a copy of the FIR to the bank. The bank will then give the original buyer the unused amount after subtracting charges, if any. Some banks like ICICI Bank won't refund the money but reissue a replacement card on payment of `199. You might have to undergo the KYC procedures again for getting a new card.


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

Leave a missed Call on 94 8300 8300

Leave your comment with mail ID and we will answer them

OR

You can write back to us at

PrajnaCapital [at] Gmail [dot] Com

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

Invest Mutual Funds Online

Invest Any Mutual Fund Online

Download Mutual Fund Application Forms from all AMCs

Download Mutual Any Fund Application Forms

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

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Franklin India Bluechip
      4. ICICI Prudential Top 100 Fund

B. Large and Midcap Funds Invest Online

      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
      4. Birla Sun Life Front Line Equity Fund
      5. Franklin India Prima

C. Mid and SmallCap Funds Invest Online

      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
      5. Birla Sun Life Dividend Yield Plus
      6. SBI Emerging Businesses Fund
      7. HDFC Mid-Cap Opportunities Fund
      8. ICICI Prudential Discovery Fund

D. Small and MicroCap Funds Invest Online

      1. DSP BlackRock MicroCap Fund
      2. Franklin India Smaller Companies

E. Sector Funds Invest Online

      1. Reliance Banking Fund
      2. Reliance Banking Fund
      3. ICICI Prudential Banking and Financial Services Fund

F. Tax Saver Mutual Funds Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

      1. DSP BlackRock Tax Saver Fund
      2. Reliance Tax Saver (ELSS) Fund

G. Gold Mutual Funds Invest Online

      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund
      4. Birla Sun Life Gold

H. International funds Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF

Popular posts from this blog

SBI Magnum Tax Gain Scheme 1993 Applcation Form

    https://sites.google.com/site/mutualfundapplications/tax-saving-mutual-funds-elss     Investment Details Basics Min Investment (Rs) 500 Subsequent Investment (Rs) 500 Min Withdrawal (Rs) -- Min Balance -- Pricing Method Forward Purchase Cut-off Time (hrs) 15 Redemption Cut-off Time (hrs) 15 Redemption Time (days) -- Lock-in 1095 days Cheque Writing -- Systematic Investment Plan SIP Yes Initial Investment (Rs) -- Additional Investment (Rs) 500 No of Cheques 12 Note Monthly investment of Rs 1000 for 6 months and quarterly investment of Rs 1500 for 4 quarters.
Read more

Birla Sun Life Tax Plan Online

Invest Birla Sun Life Tax Plan Online   An Open-ended Equity Linked Savings Scheme (ELSS) with the objective to achieve long-term growth of capital along with income tax relief for investment.   After a bad patch from 2008 to 2010, Birla Sun Life Tax Plan has made a big comeback in the last five years, with a particularly good run since 2014. The fund's rankings, which had slipped to two stars in 2011-12, recovered sharply to three-four stars in the last three years. The fund has delivered a particularly large outperformance over its benchmark and peers in the last couple of years. The fund's investment strategy focuses on a diversified and high-quality portfolio, with parameters such as capital ratios and balance-sheet strength used to judge quality. It uses a combination of top-down and bottom-up approaches to take sector/stock positions. The fund avoids highly leveraged plays. Staying more or less fully invested at all times, the fund parks roughly half of its portfoli
Read more

Should you Roll Over 1 year Fixed Maturity Plans?

The period between January and March typically sees an uptick in the launch of fixed maturity plans, or FMPs. Not this year. Instead, fund houses are busy rolling over or extending the tenure of their one- year FMPs launched last year to three years. Investors in one- year FMPs have a choice. Either redeem units or roll over to three years. If you exit now, your gains will be added to your income and taxed in line with your individual slab rate of 10, 20 or 30 per cent. If you stay invested for two more years, you pay 20 per cent tax with indexation benefit. Yields have softened in the past few months on expectations of a rate cut. If the central bank continues its soft monetary stance, yields are likely to fall further. In such a scenario, it makes sense for investors, particularly those in the 30 per cent tax bracket, to roll over their investments and lock in at a higher yield now. In a surprise move, the Reserve Bank of India cut repo rate by 25 basis
Read more

Mutual Fund Review: IDFC Premier Equity Fund

  IDFC Premier Equity Fund, which falls under the presumed high risk group of mid- and small-cap schemes, can rely on astute and timely equity picks. These make it less vulnerable to fluctuations compared with others in the category   IDFC Premier Equity Fund is designed to invest in upcoming, but promising businesses available at cheap valuations, and hold on to these businesses until they reap desired returns. The experiment has been successful so far, and IDFC Premier Equity has emerged as one of the top performing mutual fund schemes in the mid- and smallcap category of equity schemes.    While the scheme is an open-ended equity fund, i.e. open for subscriptions throughout the year, it has a unique philosophy to limit fresh inflows. Thus, while an investor can always take the systematic investment plan ( SIP ) route to invest in the scheme throughout the year, inflows through a lumpsum investment have been restricted. Since inception, IDFC Premier Equity has been opened for l
Read more

IDFC Premier Equity Fund dividend

  IDFC Mutual Fund   has announced dividend under the dividend option of   IDFC Premier Equity Fund Direct-D . The quantum of dividend shall be   R 4.3464 per unit.   The record date has been fixed as May 06, 2015. Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015 1. ICICI Prudential Tax Plan 2. Reliance Tax Saver (ELSS) Fund 3. HDFC TaxSaver 4. DSP BlackRock Tax Saver Fund 5. Religare Tax Plan 6. Franklin India TaxShield 7. Canara Robeco Equity Tax Saver 8. IDFC Tax Advantage (ELSS) Fund 9. Axis Tax Saver Fund 10. BNP Paribas Long Term Equity Fund You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds Invest in 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]
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now