Showing posts from January, 2021

Know What Are The Types Of Mutual Funds Available In India And Where They Invest - Part - 1

If you want to know completely about the Mutual fund industry in India, then this article is for you. As this topic is very wide and has lots of information to know and learn, we have decided to divide this article in Parts and this is Part - 1. In this article we going to explain about the types of mutual funds and there subcategories in detail (Only about Equity mutual Funds) so that one can get a compete information about Equity mutual Funds in a single article. First of all if you want to know what is Mutual Fund and how it Operates then Click here.. Types of Mutual Funds Equity Mutual Funds Hybrid Mutual Funds Debt Mutual Funds Solution Oriented Funds Fund of Funds Index Funds / Exchange Trade Funds (ETF's) Ok, now will understand each types of Mutual Funds in detail along with their sub-categories Equity Mutual funds  In this type of funds Asset management Company(AMCs) will invest primarily in Stocks listed on BSE/NSE.  The sub-categories of this funds are as follows. Lar

Does Investing In Mutual Fund Provide Income Tax Benefit? Yes it's ELSS Fund!

Equity Linked Savings Scheme  If you are thinking to invest in mutual fund and also at the same time want to get tax benefits on your investments, Then ELSS (Equity Linked Savings Scheme) is the way to get it done! About ELSS An Equity Linked Savings Scheme (ELSS) is an open-ended mutual fund that doesn't just help you save tax, but also gives you an opportunity to grow your money.  It qualifies for tax exemptions under section (u/s) 80C of the Indian Income Tax Act up to 1.5 Lac investment. ELSS funds are a category of mutual fund promoted by the government in order to encourage long term equity investments. Under this scheme, most of the fund corpus is invested in equities or equity-related products.  There are two categories in ELSS mutual funds which are dividend and growth. Some key Features of Equity Linked Savings Scheme You can invest in ELSS through the way of Lump-sum investment or through SIP (Systematic Investment Plan)   Minimum Investment is as low as Rs. 500/- Lock-

Senior Citizen Saving Scheme

Senior Citizen Saving Scheme SCSS is an excellent investment option for senior citizens looking for long-term saving schemes which offer security with other additional benefits. Senior Citizens Savings Scheme (SCSS) is a government-backed savings instrument offered to Indian residents having age over 60 years. This deposit will be matured after 5 years from the date of account opening but can be extended only once for additional 3 years (Total - 7 Years) .   You can avail the scheme from P ost offices and recognized banks all around India. Some Key Features of Senior Citizen Saving Scheme Minimum Investment - 1,000/- Per Person Maximum Investment - Rs. 15,00,000/- Per Person Minimum entry age - 60 Years Rate of Interest (From 01-04-2020) - 7.4% per annum (Interest paid quarterly) By investing Rs.15 lac one could earn Rs. 27,750 every quarter (1,10,000/ year) Benefits Of Senior Citizen Saving Scheme Highest Interest rate (7.4% per annum) among all the investment options available