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Showing posts from June, 2020

Sukanya Samriddhi Yojana - SSY

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Sukanya Samriddhi Yojana This Scheme was launched by Govt. of India on 22nd January 2015 as a part of Beti Bachao Beti Padhao campaign by Pradhan Mantri Narendra Modi. This scheme supports parents of girl child to build a corpus for her future expenses like Education and Marriage. This plan can be obtained in any Post office and authorized banks. Key Features Can be opened in the name of Girl child whose age is 10 years or below Birth Certificate is compulsory for opening the account Minimum investment is Rs. 250 / year Maximum investment is Rs. 1,50,000 / year Rate of interest is 7.6% for April - 20 to July - 20 (Rate of interest will be decided in every quarter by Govt. of India and compounded yearly) Deposit Duration is 15 years from the date of opening of account Account will mature after 21 years of date of opening of account After completion of 18 years of girl's age she can withdraw 50% of the total corpus for her education and for marriage she can withdraw 100% the corpus f

Kisan Vikas Patra - KVP

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Kisan Vikas Patra (KVP)  It is one of the post office saving schemes. In this savings scheme, along with good interest rate, government guarantee of investment protection is also available. One can earn good interest by investing in this savings scheme. The scheme is currently offering 6.9% interest. The money invested at this rate of interest doubles in 124 months. Image Source : Indian Post Types of accounts that can be opened under the Scheme Single Holder Type Account A Single Holder Type Account may be opened by an adult for himself, or on behalf of a minor or a person of unsound mind of whom he is the guardian, or by a minor who has attained the age of ten years Joint A -Type Account Joint A-Type Account may be opened jointly in the names of up to three adults payable to all the account holders jointly or to the survivors Key Features Minimum Amount of Investment : 1000 Rs Maximum Amount of Investment : No limit Tenure of investment                     : 124 months (at 6.9% inter

बचत और निवेश में क्या अंतर है?

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बचत और निवेश में क्या अंतर है? अगर आप 80,000 रुपये कमाते हैं और मासिक खर्च 40,000 रुपये है। इसका मतलब है कि आप 40,000 रुपये की बचत कर रहे हैं।  अब आपके पास 2 विकल्प हैं  इस पैसे को घर या बचत खाते में रखें  एक एफडी बनाएं, पीपीएफ में निवेश करें, म्यूचुअल फंड में एसआईपी करें, सोना, जमीन, स्टॉक आदि खरीदें। पहले मामले में, यदि आप घर पर या बचत खाते में पैसा रखते हैं तो आप इसे बचा रहे हैं लेकिन आपको जो रिटर्न मिल रहा है वह क्या है? आपके लॉकर में पैसे होने की स्थिति में कोई रिटर्न नहीं।  बचत खातों में धन रखने के मामले में लगभग 3.5%। उपरोक्त दृष्टिकोण के साथ समस्या यह है - आप मुद्रास्फीति (inflation) को हरा नहीं पा रहे हैं। भारत में मुद्रास्फीति लगभग 4% -5% है, जिसका अर्थ है कि यदि आप अपने पैसे को नकद के रूप में या बचत खाते में "सहेज रहे हैं" तो यह वास्तव में सिकुड़ रहा है। उदाहरण के लिए,  अगर आपने ऐसी चीज़ खरीदने के लिए 100 रुपये की बचत की है जिसकी कीमत अब 100 रुपये है और अगर आप इसे अगले साल खरीदना चाहते हैं तो आपको महंगाई की वजह से 104 से 105 रुपये का भुगतान करना होगा। हालांकि, आपके

National Saving Certificate

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National Saving Certificate National Saving Certificate (NSC) is the most popular saving scheme of the post office. Anyone can invest in this scheme. Then from whether profession he may be salaried, businessmen, farmer or others. The good thing is that it is much better than the FD of the bank or post office.  In this article I have explained what is NSC? What is its full form and meaning? Information about its rules and current interest rate is given. And also how can it is better than other existing Tax Saving Options? What is National Saving Certificate?  NSC means National Saving Certificate it comes under the Small Saving Schemes of the Government of India. These are in the form of certificates with a value of 100, 500, 1000, 5000, 10000. You can buy them by paying the price recorded on them. After 5 years, you can redeem these certificates. You are then refunded by adding the interest made on them along with your deposit. Note: The scheme originally had two types of certificates

Sovereign Gold Bonds - Alternate of physical Gold

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Sovereign Gold Bonds Sovereign Gold Bonds are Government securities denominated in multiples of gram(s) of gold. They are substitute for investment in physical gold.  To buy the bond, one should has to pay the issue price to an authorised SEBI (Stock Exchange Bord of India) Broker . On redemption, cash is deposited into the investor's registered bank account. These Bonds are issued by the Reserve Bank of India on behalf of the Government of India and are traded on stock exchange. Some important things about Sovereign Gold Bond  In gold bonds, you get interest of 2.5% per annum that will be deposited directly into your bank account every half yearly  You do not get interest in any other investment method of gold  If you want to invest, you have to buy at least one unit (one unit equal to 1 gram) You can buy gold bonds equal to a maximum of 4 Kgs for individual, 4 Kgs for HUF (Hindu undivided family) and 20 Kgs for trust and similar entities per financial year (April-March)  Gold

Best Ways To Save Money

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Many people think of saving money and achieving their dreams, But some how they are unable to make it. Followings steps may help you to build savings and achieve financial comfort.    1. Plan to Save Money  First,   one should plan that how much he can save monthly by not compromising his essential expenses like, House rent, Groceries, Essential Shopping, medicines, EMI's Etc. One should try to reduce his unnecessary expenses else he/she could not save money, Once Warren Buffett said,  “If you buy things you don't need, you will soon sell things you need.” By - Warren Buffett 2. Pay off debts  Pay your debts which are drawing maximum part of your monthly earnings (debts with high interest rates) like Car loans, Personal loans, etc and if you borrowed money from any personal finance with high interest rates then first pay of these types of loan before you start saving. Once you done with all high interest paying debts then you will be free to save money 3. Start with 70:3

Post Office Investments for Small and Safe Investors In India

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Post Office Investments include a number of saving schemes that provide high rate of interest as well as tax benefits and most importantly, carry the sovereign guarantee of Indian Government. All these schemes are tax exempt under Section 80c, i.e. tax exemption up to Rs. 1,50,000 is allowed. Some schemes like Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Post Office Time Deposit for a 5 Year Term and Senior Citizen Savings Scheme (SCSS). Small Savings Scheme Interest Rate Tax Deduction on Investment? Interest Taxable Post Office Savings Account 4.0% No Yes Post Office Recurring Deposit 5.8% No Yes Post Office Monthly Income Scheme 6.6% No Yes Post Office Time Deposit (1 year) 5.5% No Yes Post Office Time Deposit (2 year)