Saving center Headlines

How to save money in 20’s?

Rajesh Singla

How to save money in 20’s? This article is for the people in job still figuring out how and where ...

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How to do Savings?

Rajesh Singla

How many of you are able to save enough for your future. Most of the people tend to focus on  ...

Shriram City comes with NCD Issue

Rajesh Singla

  For the ones who are disappointed with the interest rate offered by the bank and looking for safe bets ...

Risk free high interest FD for NRI

Rajesh Singla

  Federal Bank is offering high interest rate FD where you can get 10% non taxable return without taking any ...

Shriram Transport comes with secure high interest NCD issue

Rajesh Singla

    Shriram Transport Finance Company Limited is coming out with a public issue of Secured, Redeemable, Non-Convertible Debentures (NCDs) of face value ...

Mahindra Finance FD starts on 20 July

Rajesh Singla

If you are looking for a high interest rate fixed deposit, then this article is for you. Interest rates for ...

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First Leasing comes with NCD

Rajesh Singla

If you are looking for good fixed returns without taking any risks, then First Leading NCD is for you. Interest ...

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How much interest Corporate FD’s yield?

Rajesh Singla

Corporate fixed deposits are similar to banking FD’s, except that the money invested is with a company and not a ...

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Hike in interest rate in PPF, NSC and Post office Schemes

Rajesh Singla

Government has come up with new interest rates which will be effective from tomorrow, 1st April, 2012. Government has announced higher interest rates in small savings schemes by up to 0.5%. Check out the new interest rates.

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Muthoot comes again with NCD for doubling your money in five and half years

Rajesh Singla

Muthoot finance comes back with their third NCD series after their successful response to second issue of NCD series. Investors can actually double their investment in just 5 and 1/2 years with this issue of NCD series

Double your money in five & half years through NCD’s

Rajesh Singla

The golden days of lates 1990’s when Kisan Vikas patra used to double the money in 5 & half years are back but this time the investment is Non convertible Bonds from Muthoot Finance& not KSV. Investors can actually double their investment in just 5 and 1/2 years with this NCD.

Need a HRA exemption? Bring the PAN Card of House owner

Rajesh Singla

According to the notification issued by the Income tax department, now landlord PAN card is must to get tax exemption against HRA allowance. One will have to submit PAN card as a proof if he is applying for more than 15,000 Rs. as monthly rent which means from now on, he needs to submit original rent receipts as proof of rent as well as PAN card copy of the landlord to get the tax exemption on HRA.

Will you continue to hold your saving account with HDFC?

Rajesh Singla

HDFC Bank, largest private bank of India, is revising its service charges from 1st January, 2012. The new charges will make a serious dent in the pocket of a small retail investor. Here is the list of new charges which will be effective from the coming 1st January,2012.

Is this is a new beginning or beginning of an end for PPF & NSC?

Rajesh Singla

In order to attract more investors, Government has revised Interest rates on PPF, NSC & has scrapped agent’s commission. Small investors will directly benefit from this move. SEBI has burnt their hands by trying to pass the max. Benefits to investors & cutting the agents commission couple of years back. The question here arises. Is this is a new beginning or beginning of an end?

What Saving Interest deregulation means for a common man?

Rajesh Singla

Interest rate on savings account has been deregulated by RBI. According to RBI, each bank will offer uniform rate on savings of up-to Rs 1 lakh. Thereafter, Banks may provide differential rates on savings above Rs 1 lakh. RBI has mandated that savings bank account rate be linked with the policy rate at which the central bank lends short-term funds to commercial banks. RBI increased the savings interest to 4% in April after keeping it unchanged from the last 8 years from 3.5%. With the RBI freeing interest rate on savings deposits, mid-size private lender Kotak Mahindra Bank, Yes Bank has announced new interest rates by being the aggressor for this move. It will offer 6 per cent interest on savings deposits above Rs. 1 lakh and 5.5 per cent on those below Rs. one lakh from November 1. How it impact a common man & his life? Pros The most obvious benefit is the increased return to regular savers on their money lying in normal savings account. According to estimates, Indians have 26% of the money deposited in the savings account. In the past 12 or 18 months the savings rate there has been a significance rise in the saving rate. For those who tend to be less financially prudent about their money lying idle in their salary accounts, this would result in better returns. Further short-term deposit rates(for 90 days, for 180 days & for 1 year) are also expected to rise which will help old age investors and pensioners looking for short-term deposits and debt funds as investment opportunities. Further the competition amongst banks will increase which if effectively monitored and controlled would lead to increased efficiencies in the banking space. Increased competition will lead to development of innovative products thereby transforming the savings account from a bank account to a safe & secure investment avenue. This will increase the attractiveness of savings deposit account, which is expected to improve the savings profile of a common man. Cons: While RBI for long has been keen on freeing it, the industry body IBA was opposing it saying any such move would push up the costs of banking services like ATMs charges, money transfers and cheque books to protect margins. The second largest private lender HDFC Bank head Aditya Puri was categorical in stating that "whether banks increased the SB rates or not, the cost of banking services would definitely go up following the RBI move". The RBI move is not good news for larger banks with high savings account balances like SBI, HDFC Bank, ICICI Bank, PNB and Axis Bank or any other state-run banks. While the Other larger banks are in wait & watch mode, interestingly, both the banks which has increased savings interest rate have not put any new additional charges on their customers bringing little cheer to the customers who are tired of Inflation & increased rise interest on their loans.

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