Varishtha Pension Bima Yojana (VPBY) 2017 with 8% guaranteed Pension: Things to know

Varishtha Pension Bima Yojana (VPBY) 2017 with 8% guaranteed Pension: Things to know

The Varishtha Pension Bima Yojana (VPBY) 2017, a scheme unannounced by the Prime Minster  Narendra Modi on new year eve was approved by the cabinet on Tuesday. Post demonetisation banks are slashing interest rate on fixed deposits. Therefore, to guard the interest of the senior citizens (above 60 years of age) in case of falling interest rates, PM Modi announced this scheme with a guaranteed interest of 8 per cent for 10 years The scheme will be launched by Life Insurance Corporation of India on April 1st as per sources….

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BUDGET COUNTDOWN – `More tax benefits on home loans will push the economy…’

BUDGET COUNTDOWN – `More tax benefits on home loans will push the economy…’

The Union Budget for the financial year 2017-18 is less than a week away. There are many expectations of this Budget in the light of the recent demonetisation and the need to push growth in the economy. The realty sector contributes significantly to the GDP. A boost for this sector in the Budget will put more money to work, translate into more employment opportunity and contribute to the cause of `Housing for All’.   Anil Rego, a financial advisor, shares some thoughts on what prospective homebuyers can expect in this…

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5 ways to beat the sharp cut in FD rates

5 ways to beat the sharp cut in FD rates

Interest rates on bank FDs have started coming down and rates on other fixed-income products will also decline. Investors should lock into instruments offering higher returns, reports Sanjay Kumar Singh. Being flush with liquidity and having limited avenues to deploy their funds, banks have begun to cut deposit rates. The State Bank of India, ICICI Bank and HDFC Bank, among others, have reduced fixed deposit rates by 15 to 25 basis points (bps) for retail (small) deposits. For bulk deposits (Rs 1 crore and above), SBI cut rates by 125…

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For high lifetime regular income on insurance annuities, invest right NOW. Here’s why.

For high lifetime regular income on insurance annuities, invest right NOW. Here’s why.

Income from insurance annuities reducing, invest now If you are considering investing in an insurance pension product that provides annuities when you retire, for a steady flow of income during your golden years, you need to hurry. This is because annuity rates offered by insurers are likely to come down shortly in line with the downward movement on interest rates. Some insurers have already dropped rates and others may follow soon. There is a small window available with some insurers; if you apply now, you will be eligible for income…

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What you need to do to save enough for your Child’s Education?

What you need to do to save enough for your Child’s Education?

Best Investment Instruments & Strategies for Saving for a Child’s Education Providing the best education to their children is every parent’s dream and one of the biggest goals. But are you saving enough or investing in the right instrument to achieve this goal? From child plans offered by insurance companies to the Sukanya Samriddhi scheme for girl child, there are a plethora of investments in the market. So which option to choose and how much to invest are the most critical questions. First, you need to set a target. It…

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RBI keeps interest rates unchanged

RBI keeps interest rates unchanged

Interest Rates unchanges: Fixed Income investors should make full use of this opportunity “Potential upside risk from inflation”, is one of the major factor that made Reserve Bank of India (RBI) Governor Raghuram Rajan keep the policy rates unchanged in the 7th June monetary policy meet. This could mean the interest rates might not be coming down in a hurry. While EMI payers may not have anything to cheer about, fixed income investors may have a sigh of relief. In fact, the probability of a rate cut was low. Two…

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