2010 was a defining year for the insurance industry. The ULIP controversy, SEBI versus IRDA fight, and dispute over cashless insurance scheme created enough ripples in insurance industry. Additionally IPO and merger and acquisition attracted the attention of regulators.
Today banks are keen in identifying new business niches and more customised services to handle the stiff market competitions. On the other hand inflation is continuing to haunt the policy makers. In this scenario, RBI is expected to continue putting pressures on banks to increase the interest rates further in the coming year, with the… Read More »
The possible deductions on the employee’s gross salary after exemptions are taken into account come under Section 16 of the IT Act. These include dues paid as professional tax, deductions for investing in various tax saving investments like PPF, life insurance premium, pension schemes by life insurers, Mediclaim premium, interest on loans for education, house… Read More »
Normally, banks only give 85%-90% of the total cost of the vehicle. The rest will need to be provided upfront as a down payment. Always opt for a higher down payment and look to save on total interest costs. When you book the car, you need to pay a booking amount, which can range anywhere… Read More »
Vipul needed a quick fix. Fortunately for him, he was in a hurry to invest also and had started young. Things like compounding interest, safe investment options like FDs and some shares that did extremely well, had stocked his treasury quite generously over time. Had he sat back and given a careful thought to his… Read More »
The clause known as the Force Majeure Clause states that “Provided further that from time to time, the bank may in its sole discretion alter the rate of interest suitably and prospectively on account of change in the internal policies or if unforeseen or extraordinary changes in the money market conditions take place during the… Read More »
For the retired people, the Post Office Monthly Income Scheme is a good savings instrument. The interest is 8% divided on a monthly payout basis. The payout if not required can be channeled to a recurring deposit. The effective returns increases by almost 10% by doing this. The interest can be credited to a savings… Read More »
What do the former customers of the lender have to say about the quality of service offered by the lender? Was the lender responsive to the customer requirements? Check the feedback given by the users on the customer review websites. It will give you an idea of what to expect from the lender, so that… Read More »
Equity mutual funds make a great investment. However, given the volatile nature of the market and the loss experienced by investors in the past months, one should keep expectations realistic and be willing to wait it out for at least 10-15 years to see a good return from equities.
Evaluate all loan offers. The first condition for loan offer selection is the total money outflow that the loan will cost. The second factor is the EMI. A loan offer with a lower EMI and a longer tenure may seem attractive, as it could be easy on your purse strings, however not all such loans… Read More »