Savings & Investment Tips

How to open PPF Account online - SBI and ICICI bank

2012-09-08T22:17:00.000-07:00

Online PPF Account with SBI and ICICI bank India
Now you can open PPF or Public Provident Fund account online in India with ICICI bank and State Bank of India (SBI). This is a major step to increase popularity of PPF or Public Provident fund account among individual especially youngster who love convenient of net-banking from office or home. All major financial and saving product like fixed deposit or FD , recurring deposit or RD and mutual funds are already available online, which means hard to choose PPF account over these personal saving instruments.Now since PPF account is also available online you can get all benefits of PPF account with convenience of net-banking in India.

How to check EPF (Employee Provident Fund) account balance online - free

2012-09-07T04:35:00.001-07:00

How to find EPF (Employee Provident Fund) account balance online

You can now check your EFF (Employee Provident Fund) account balance online from comfort of your office and home. No need to endure stress on multiple run of government office. In order to check your EPF account balance online, You just need to click below link and enter your EPF also known as PF account number and mobile number and it will display your total EPF (Employee Provident Fund) account balance. Every salaried employee In India who contributes some part of his salary to EPF (Employee provided Fund) have been curious to know his or her EFF (Employee Provident fund) account balance from long time but going to EPF office and inquiring these details are troublesome job, given how government offices works in India. In the absence of visibility and control on EPF (Employee Provident Fund) account many salaried employee prefer to withdraw there EPF(Employee Provident fund) account balance when they change there job. By using this facility They not only can check there EPF account balance This visibility gives a sense on ownership and also motivates you on saving and investment.

How to deposit money in NRE and NRO account -Savings Fixed deposit

2012-09-02T01:50:00.000-07:00

How to deposit money in NRE account -ICICI, HDFC, SBI
You can deposit money in NRE account held with ICICI Bank, HDFC Bank, SBI Banks, Kotak, Axis by using following methods :

1) Best way to deposit money in NRE Fixed deposit or savings account is by remitting foreign currency to your NRE account by using any remittance services like money2India from ICICI, remit2India from HDFC, click2remit from Kotak and SBI Express from SBI. There is no restriction on which service you use to remit money to India, its up to you. you can even deposit money in HDFC NRE account by remitting money using ICICI money2India services or depositing money on Kotak NRE account by using remit2India service. Same method can be used to transfer money to your NRO savings account and FCNR fixed deposit account as well.

5 Differences between NRE and NRO Fixed deposit -HDFC ICICI SBI Kotak

2012-08-31T22:11:00.000-07:00

Difference between NRE and NRO fixed deposit

NRI has two option to invest in Fixed deposit in India NRE fixed deposit and NRO fixed deposit but you need to be careful whether you choose NRE or NRO fixed deposit as taxation rules on NRE and NRO Fixed deposit is different. In this article we will see some differences between NRE and NRO fixed deposit opened with any Indian banks like ICICI, HDFC, SBI or Kotak Bank and find out whether you should open NRE fixed deposit or choose NRO fixed deposit based upon your requirements.

Buying Online term Insurance Plans - Things to know

2012-08-25T03:18:00.001-07:00

Online insurance plans like online term insurance plan, online health insurance plans are getting popular due to there lower cost compare to buying similar insurance plans from agents or insurance agency. An online terms insurance plan for 1crore for 30 years may cost you around 5500 from ICIC Prudential iProtect which is way lower than if you buy it from any insurance agent. Since this cost saving comes due to reduced marketing cost on Selling insurance product, You also loose the opportunity to discuss this with your insurance agent. In order to take full advantage of cheap Online insurance plans you need to remember certain things about Online insurance plans before you buy them. here I am listing seven such important points about online insurance plans like term insurance which any insurance buyer should know.

FCNR fixed or term deposits - Good time to invest for NRI

2012-08-06T06:27:00.000-07:00

Should you Invest in FCNR fixed or term deposit?

FCNR (Foreign Currency Non Resident) Deposit is another way NRI can invest money in fixed deposit, Along with popular NRE and NRO Fixed deposit. Since deregulation of interest rate on FCNR deposit earlier this year, In an attempt to arrest Rupee slide against USD and attract more dollars from NRI customers, FCNR deposit has become an attractive alternative for NRI. As I mentioned in my earlier post Good time to invest in NRE fixed deposit that interest rates and exchange rate both are in favor of NRI and its really good time to invest money on NRI fixed deposits. Now like many other NRI first confusion comes on What is this FCNR deposits, Should I invest in FCNR deposit or NRE fixed deposit and several other doubts which prevents many of NRI from investing quickly. In this article we will looks some basics of FCNR deposit and given nature of FCNR deposit we will be able to decide whether investing in FCNR deposit is good option or not ?

NRE or NRO Savings Account – Which one NRI should open? Differences

2012-07-28T05:04:00.001-07:00

NRE or NRO savings account, which should I open is first doubt comes in mind of any Non Resident Indian (NRI) who wants to open saving accounts in India on Indian banks like ICICI bank, SBI bank, HDFC Bank, Kotak Mahindra Bank and several other public sector banks which offer this facility like Bank of Baroda. NRE and NRO are two kinds of accounts any NRI can open in India, NRE stands for Non Resident External while NRO stands for Non Resident Ordinary account, though both can be hold by Indians there are many differences between them and based upon your need you need to choose to open either NRE or NRO account in India. Almost all major banks both public sector and private sector like SBI, HDFC, ICICI, Kotak Mahindra allow NRI Indian to open both NRE and NRO account.

Recurring deposit for NRI – latest offering from Indian banks

2012-07-21T01:40:00.000-07:00

Recurring deposit for NRI customers

NRI recurring deposit is a new investment option offered by many Indian banks like HDFC Bank, SBI, ICICI and Kotak Mahindra, after there successful run with NRI fixed deposit. With almost 25-30% rise in exchange rates of USD to INR during the span of one year has made remitting money to India and investing in recurring and fixed deposit a lucrative option. Recurring deposit for NRI is available on HDFC bank and it may also available through other banks like Kotak Mahindra which I yet to check. I liked recurring deposit for NRI because it doesn't require you to invest wholesome amount and you can still take advantage of high interest rate combine with super exchange rate before it’s too late. As its quite clear that interest rates in India will only go down in near term, they are already fallen from there peak and exchange rate is also fluctuating I think locking money in recurring deposit is the best one can do if he wants to keep money in Indian rupees or want to pay EMI though that money or buy a house.

Good time to invest in NRE Fixed Deposit in India

2012-01-22T02:40:00.000-08:00

Invest in NRE Fixed Deposit in India

NRE Fixed Deposit is very hot at this moment with soaring interest rate and very lucrative Exchange rates from USD to INR, SGD to INR and from other foreign currencies. For all those Indian who are living abroad or working abroad mostly my fellow IT Professional it’s good to invest in NRE Fixed deposit in India. As we know successful key of Savings and Investment is diversification and Fixed Income forms a big part of it and always say that at least have your 50% money in Fixed deposits because of liquidity, security and ease of investment as an option it provide. NRE Fixed Deposit is even more special because all principle and interest earned on this account is TAX FREE in India. So it’s the best way to bring foreign currency in India. Earlier rate of Interest on NRE Fixed deposit was quite low as compared to Resident savings account but now its even at par of Resident account and many private banks are offering rates in range of 9.2 to 9.6% per year with quarterly compounding basis.

Current Tax band in India

2010-09-12T01:44:00.000-07:00

Tax Saving Mutual fund Scheme - ELSS (Equity Linked Saving Scheme) - India

2010-01-29T04:22:00.001-08:00

ELSS (Equity Linked Saving Scheme)- Tax Saving Mutual Fund

I came to know about ELSS during my stay in Mumbai and from my experience I have regarded ELSS as very important tax saving scheme, primarily because of its sheer tax saving and benefit of equity in long term, as its proved fact that Equity as an asset class leads in terms of long term investment and can significantly beat inflation.

Since all the tax saving scheme comes with fixed maturity or lock in period e.g. tax saving fixed deposit are mostly for 5 years, national saving certificate are of 6 years, Kishan Vikash patra are of 8 years, PPF are of 15 years etc, so if compare all tax saving scheme you will find only ELSS has least lock in period of 3 years.

Tax Saving Schemes and Investment options for Salaried employees Indian

2010-01-28T04:45:00.002-08:00

Tax Saving Schemes for salaried employees India
As the financial year proceeds to ends many of my colleagues and friends started thinking of about tax saving, though I have always suggested them to do it in planned way from start of the year it never happened. Since we all know that we can save upto 1 lac under Section 80C of the Income Tax Act and there are lots of tax saving scheme available.