Fixed maturity plans (FMP) are closed ended debt mutual funds which are very similar to fixed deposit by banks. These are of varying tenures like three months, six months, one and two years and rarely for three years. These schemes portfolio consists of debt securities such as Government Securities, certificate of deposit and commercial papers of [...]
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There is good news for six crore subscribers of EPF (Employee Provident Fund) and VPF (Voluntary Provident Fund). EPFO has decided to increase the interest rate on both EPF & VPF to 8.6% for FY 2012-13. This was reduced to 8.25% for FY 2011-12 from 9.5% a year earlier. The cut in interest rate had [...]
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India’s largest bank State Bank of India (SBI) has reduced its NRE/NRO, Senior Citizen, Domestic Term Deposit Rates from April 24, 2012. Below are the revised rates. Premature withdrawal of SBI Term Deposits: Domestic Term and NRO Deposits should remain for a minimum period of 7 days and NRE Deposits should remain for a minimum period [...]
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SBI (State Bank of India) recently advertised its rates for NRE Term Deposit Rates in leading newspapers. The advantage of NRE Term deposit is that the interest paid is tax free in India and both principal and interest is fully Repatriable. The interest rate is 9.25% across tenures. The other thing to note is No [...]
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Fixed deposits are considered to be one of the most simple investments – easy to understand and not may complicated terms and conditions. But as all other investment products have increased in complexity with time, so have fixed deposits. There are few terms which you should know and this will help you to calculate your [...]
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There are times when you are very close to your financial goal and want to park your money for short term somewhere where it’s safe, it can easily be withdrawn and in the meantime get some reasonable returns. Here I am considering short term as less than 1 year investment horizon. There are three options [...]
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We have always been told that stocks always outperform fixed deposits in the long run. But is this always true? Lets do some analysis. Below is the graph showing annual returns for Sensex and Fixed Deposits (for 1-3 years tenure) from year 1991 to 2011. As you can see in 21 years period Sensex has [...]
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If you are still worried about allotment your investment in Tax free bonds, Infrastructure bonds or NCDs last year, I have summarized the links where you can check your allotment status using your Application Number, PAN Number, etc.
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With start of new financial year 2012-13, a lot would change from today in personal finance space. Here is the list. Good News: Increased Interest on Small Savings Scheme like PPF, NSC, etc: The government has increased interest rates on post office deposits like PPF, NSC, Fixed Deposit, Recurring Deposit, and Senior citizen Scheme in [...]
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Below is the list of top banks Term Deposit or fixed deposit (FD) rates for tenure of 6 Months – 1 Year, 1 – 2 Years, 2 – 3 Years, 3 – 5 Years and more than 5 years. The best fixed deposit rates for 6 months to less than a year is offered by Corporation Bank at 9.75% [...]
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State bank of India (SBI) has increased its short term Fixed Deposit (FD) rates by 1% from March 28, 2012. Its expected more banks would follow deposit rate hikes. This hikes comes after Government announced Interest rate hikes in the range of 0.2% – 0.5% on small savings schemes such as public provident funds (PPF), post office deposits and National Savings [...]
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When the stock market is volatile the market is flooded with capital protection funds. These funds promises investors to give a minimum guaranteed return which is the capital invested or may be a nominal appreciation of 10% on the same at the end of investment tenure. But do you know you its easy to create [...]
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State bank of India (SBI) has increased its short term Fixed Deposit (FD) rates by 1% from March 28, 2012. Its expected more banks would follow deposit rate hikes. This hikes comes after Government announced Interest rate hikes in the range of 0.2% – 0.5% on small savings schemes such as public provident funds (PPF), post [...]
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Finally the interest rates for small savings schemes such as public provident funds (PPF), post office deposits and National Savings Certificate (NSC) have been increased by 0.2% – 0.5%. The above interest rate increase would be effective from April 1, 2012. Now, deposits in PPF account will fetch 8.8% a year, compared with 8.6% now, [...]
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