Monday, 31 October 2011

Gold loan or loan against gold jewelry

Gold loan or loan against gold jewelry is the quickest and easiest loan option, when you unrgently need money. You can pledge gold or gold ornaments as collateral security and can avail money for your emergencies. You need to submit gold with proper identity and residence proof to get a gold loan. Normally no any surety is required for gold. Some specialized bankers for gold loan will give you money against gold loan within one hour in any working time of the bank.

Margin of Gold Value and Loan Amount 

Near about 60% of the market value of the gold will be available as loan.
The interest rate may be comparatively less if the margin of market price of gold and the amount you required as loan is bigger. For example if you need only 50% of the value of gold as loan, the interest rate may be lesser than 60% of the market value as loan. Loan insurance or loan protection insurance 

Disadvantages of Gold Loan 

If the person who takes the loan has not paid interest and the principal amount in time, the gold you pledged may be sold by the money lender and close your loan account. Then you won’t get back the gold. Normally ornaments have an emotional value and most of the cases the person will pay back the amount in time and get back the gold he or she pledged in.

Gold loan pay back pattern 

The money lender will check the quality of the gold you submitted for pledging before allowing you the loan. You can pay back the gold loan in various repayment patters as agreed with the money lender.

  1. Paying interest on loan in regular installments and the principal amount at last when you closing the loan account. If you follow this method you should pay back the principal amount only at the closing of loan account and the simple interest may be charged for the entire terms of loan

  2. Paying principal amount and interest in regular installments such as EMI and when the last installment is paid the loan will be over. The principal amount will be coming down as you pay in installments and you can pay off the loan amount within a stipulated time span. The interest will be charged only for the remaining loan amount after each installment.

  3. Paying principal amount an interest together at the time of closing the loan account. The interest may be charged in compound interest method and the person who takes the loan should pay a bigger amount at the time of closing the loan and sometimes he or she could not pay off the loan amount and the gold may be sold by the money lender to compensate his loan amount and interest. Read Various methods of repay your loan amount 

Interest of Gold loan

The interest of Gold loan is varying from bank to bank and from money lender to money lender. As a good collateral security the interest must be less than unsecured loan. The interest rate may vary as per the variation of margin between the market value of gold and the loan amount. however the lowest interest rate is 12% and the highest interest rate is 17% for gold loan. Some private money lenders may charge higher rate of interest.

Almost all banks and some private money lenders give loan against gold or gold jewelry. Gold is a precious metal and convenient to sell it off easily. Most banks are ready to give loan against gold without any hard and fast procedures. You can pledge gold etfs also for gold loan. But deal with care and take a gold loan only when you are in emergencies.

Sunday, 30 October 2011

Investment Ideas, how, when & where to invest

When you earn money, you have to invest a part of it for your future needs. You must be aware that where to invest your money and how to invest. You should invest your hard earned money with caution. You have to get a good profit from your investment or a good return out of it. There are so many financial websites, agents and brokers give you good advice about investing your money. But the decision should be taken by you only, about your investment.

Investment Ideas to make grow your money

An investment idea must show a method of investment which could save your hard earned money and make grow your money through the investment. If there is no growth in investment, it could not say as an investment. Invested money should grow. It may be through interest, profit, bonus, appreciation etc. An investor must check whether the invested money is growing or falling. Read investment ideas helpful to grow your money 

Find New Investment Ideas Yourself 

You earn money yourself through your job or business. A part of that money should be saved for your future financial goals and retirement life. But how can you invest it profitably and legally? You should find good and better investment ideas. But do you know that you can find investment ideas more suitable to you. You can find it yourself, yes it is possible.  Read how to find investment ideas yourself. 

How to invest money and where to invest? 

An investor must know how to invest their hard earned money and also should be aware where he or she has to invest money. One thing should be noted that it must be safe and secure and the return must be assured. You should be aware how much time should be taken to get back your money and it should be compatible with your financial goals. The risk factor is also important. You should learn how much risk is involved in your investment. Read How to invest and where to invest.

If you keep all the above mentioned directions you can be a good investor. Your money will not be ruined. It will be helpful to you when you require it. So save and invest your money wisely for your better future.

Saturday, 29 October 2011

Pension, PF, Gratuity through e-payment

The Government of India decided to transfer all pension, Provident fund refund and gratuity of all retired government employees through electronic payment to individual bank account of the employees. This will be open from o1st April, 2011 to all retired government employees. The PF and gratuity will be transferred the next day of retirement and the pension will be transferred from the next month of onwards.

A fully developed e-payment gateway has been developed by the controller General of Accounts (CGA) and will be inaugurated on 31st October, 2011 by the union finance minster. This e-payment gateway will be linked to all government offices from panchayat level onwards.

According to the CGA this new e-payment system may save more than 5,000 crore on interest payments to government a year. It is mandatory to all government offices to be linked with this e-payment system within 01st April, 2012 and the payment should be transferred through this e-payment system.

This new payment gateway will help to monitor all the disbursement of government offices. At present all payments are made through cash, cheque or demand draft. This new system help to deliver the payments successfully to all beneficiaries accounts under secured e-payment method.

The new e-payment method is transparent and can ensure that the amount has been credited the employees account itself and the employees will get an immediate credit of the amount. There may be an SMS alert also to their mobile phones which inform them the transfer at once. The cost of cheques and related paperwork will be very less when compare with the traditional system of payment.

Related articles
Gratuity Calculation and Tax Implication
Online PF balance, Step by step instructions
Proposal for separating PF and pension accounts

Thursday, 27 October 2011

EPF,PPF & Tax Saving Fixed Deposits under 80C

Under Section 80C of Income Tax Act you can save tax for an income up to Rs. 100,000 for an investment in certain investment options. As per the section 80C of Income tax act you can invest in Employees Provident Fund, Public Provident Fund, Tax Saving Fixed Deposits, National Saving certificates, Equity Linked Saving Schemes (ELSS or Equity Linked Mutual Funds) etc. Some payments also included in Rs. 100000 Tax exemption under section 80C, such as housing loan repayment (Principal amount), LIC Premium payments, and Tuition fee of your children paid to recognized regular educational institutions etc. But here let us compare the PF, PPF & Tax Saving Fixed deposits.

Employees Provident Fund (EPF)

EPF or Provident Fund is a compulsory deduction from your salary by the employer and deposit the amount with employer’s contribution for the retirement needs or CERTAINS emergencies of the employee. The amount deposited, interest earned and also the amount withdraw after a certain period are exempt from income tax. At present there is 9% interest is available for the EPF investment. 9% Tax free interest means 10.03%, 11.34% & 13.02% taxable interest as per 10%, 20% & 30% tax bracket respectively. If you invest in EPF account you can get a profit of at least 10.03 % income (gross income) P F Deduction Makes You Rich when Retire

Public Provident Fund Account (PPF)

PPF is also a tax free investment which can open in any post office or selected nationalized banks. The amount invests in PPF, the interest earned from PPF and the amount withdrawn from PPF is also tax free. Now there is 8.5 % tax free interest for PPF and you can invest a maximum of Rs. 100000 in PPF account in a year (at present the maximum amount can invest in PPF is Rs. 70,000 and there is a proposal to increase up to Rs. 100,000) and the minimum amount is Rs. 1000. The tax benefit is applicable in PPF also with a slight difference of income of 9.48%, 10.71% & 12.30 % of taxable interest as per the tax brackets of the investor. Public Provident Fund (P.P.F) Explained

Tax Saving Fixed Deposits

Tax Saving fixed deposit is also a tax saving investment option which can invest in nationalized and scheduled banks which earns an interest rate varies from 8.25% to 10% in different banks (0.25 % to .50% more interest for senior citizens). But the interest is taxable. The maximum gross tax return is 10% and the net tax return is 8.97%, 7.94% and 6.91% respectively for 10%, 20% and 30% tax brackets. Top Ten tax saving investment options

For EPF & PPF the net tax and gross tax return is 9.5% & 8.5%. So for 20% & 30% tax brackets the EPF & PPF are better option for Tax saving instruments under section 80C.

But you have to consider the maturity period of PPF, EPF and Tax saving fixed deposits. The maturity period of tax saving fixed deposit is only 5 years, but the maturity period of PPF is 15 years (You can make conditional withdrawal once in a year only after 6 years of the opening of PPF account). In case of EPF account you can withdraw only for certain specified purposes after 6 years of opening EPF account. Otherwise PPF & EPF combination is the better option as tax saving investment under section 80C.


Wednesday, 26 October 2011

Basic types of life insurance policies

Life insurance policies can basically be divided in to four named Term life insurance policies, Whole life insurance policies, Universal life insurance policies and Variable life insurance policies. Whatever may be the name and performance of a life insurance policy, it includes in any of these classifications.

Term Life Insurance Policies 

Term life insurance policies cover your life for a stipulated pre determined period; say one year, ten years, 20 years etc. These insurance policies allow you to pay a fixed amount of premium throughout the term of the insurance and your life will be covered for the sum assured throughout the entire term of the insurance. If you want to continue the insurance cover after completing the pre determined term, you have to renew your insurance policy and the premium amount will be more than that of the earlier premium. Term life insurance is a pure life insurance and there is no investment factor inside. The nominees of the insured could receive the sum assured, only if the death of the insured occurred before completing the predetermined period. If the insured is alive till the maturity, nothing will get back. Term life insurance is suitable for those who need only insurance cover and the insurance cover with lowest premium. There is not investment in it. The premium of Term life insurance is very less comparatively with other insurance policies.

Whole Life Insurance Policy

The insurance policy which gives life long life cover of the insured is known as whole life insurance policy. The insurer gives compensation for the entire life of the insurance policy holder. But the premium for the whole life insurance policy is higher than term life insurance policy. The insurer offers some guaranteed additional payment other than sum insured and this may be called as bonus or guaranteed addition. This type of insurance policies are not a mere insurance policy, it has some investment factor also. Premium for some whole life policy needs to be paid for the entire life, while others need premium payment only up to a certain age of the insured. Most insurance companies grant loan against the insurance policies under certain conditions.

Universal Life insurance policy

Universal life insurance policy is a mix between term life insurance policy and a separate savings & investment account. The premium will be deposited in an investment account and whatever may be the cost of term insurance deduct from the savings account and the interest or income received from the investment account will be credited in the savings account. If any time your savings account becomes zero balance the term insurance and the insurance coverage will be over. You can increase or decrease the premium payments and insurance cover at any time you wish to do so. You can choose a fixed death benefit option for a fixed term (fixed number of years, say 10 years, 20 years etc. ) or increasing death benefit option (including increasing sum assured and increasing term of insurance). For fixed death benefit option you should pay premium only up to the term ends, but increasing death benefit option you should pay premium for your lifetime. This policy is good to those who wish to get a lifetime insurance coverage and wish to include investment factor along with insurance policy.

Variable Life Insurance policy

Variable life insurance policy is a combination of whole life policy and universal life policy. But the investment factor gets more importance here. The money in the investment account will be invested in stocks, bonds and money market funds. You can choose where to invest and the death benefit and cash value will be according to the performance of your investment portfolio. This is suitable for those who wish to mix their insurance with a little risky investment.

Your life insurance policy is any of these basic insurance policies and the name may be endowment policy, money back policy, Unit Linked Insurance Policy etc. Fix your insurance goal and choose a suitable insurance policy.

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Tuesday, 25 October 2011

Government Jobs in Employment News 22 Oct 2011

There are a lot of government jobs in Employment News (22 OCTOBER 2011 -28 OCTOBER 2011). The important government job vacancies in this issue of Employment News are Railway Apprentices, various posts in UPSC and PSC (Uttar Pradesh), various government job vacancies in Delhi Subordinate Service Selection Board, Rangers, Sports Quota Vacancies, Engineers and Trainees, Assistant Professors, Directors and Office Managers, stenographers, U.D Clerks etc.   The Important government job highlights of Employment News (22 OCTOBER 2011 -28 OCTOBER 2011) are listed below for the convenience of our readers. If any of the following job vacancies are suitable for you, read the present employment news for more details before applying for the post.

Union Public Service Commission notifies Special, Class Railway Apprentices Examination, 2012.

Union Public Service Applications for various posts.

Public Service Commission Uttar Pradesh invites applications for various posts.

Delhi Subordinate Services Selection Board invites applications for recruitment to various posts in different Departments under Government of NCT of Delhi and its autonomous/local bodies.

Staff Selection Commission (North Western Region), Chandigarh requires Deputy Rangers.

South Central Railway invites applications for recruitment of Group ‘C’ and ‘D’ categories against Sports Quota.

Steel Authority of India Limited, Bhilai requires Attendant-cum-Technicians (Trainees)

Bharat Heavy Electricals Limited needs experienced Engineers for Power Project sites.

Neyveli Lignite Corporation Limited invites applications for various posts.

Kamla Nehru Mahavidyalaya, Korba requires Assistant Professors (Education).

Competition Commission of India, New Delhi requires Director, Joint Director, Deputy Directors, and Office Managers.

Institute of Design of Electrical Measuring Instruments, Mumbai requires Sr. Stenographer, Jr. Technical Assistants, Upper Division Clerks, Jr. Technician etc.

These government job highlights are from the Employment News (22 OCTOBER 2011 -28 OCTOBER 2011) and if you are interested in any of the above mentioned job vacancies, we strongly recommend to read the employment news for more details such as educational qualifications, work experience, salary scale and how to apply for the post.

Related posts

Government Jobs in Employment News 15 Oct 2011
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Wish you a Happy Deepavali – Make it happy

Deepawali or Diwali is a festival of light which leads us to light from darkness. It is a loving memory of mankind travels from the darkness to light. We wish all our readers a happy and prosperous deepavali.

How can we make deepavali a happy event? There are so many ways to make deepvali a happy one.

1.Distribute sweets to all

Deepvali is a festival of sweets also. There is a tradition in India that distributes sweets among relatives and friends during deepavali. The distribution of sweets strengthens the love and friendship.

2.Lighting lamps

Deepavali is a festival of lights. The word deepavali means group of lights (deepam). People lights lamps, diyas and candles during deepavali. The cluster of lighted lamps fills our minds with joy and happiness.

3. Have good food

During deepavali people like to have special tasty foods. Tasty special foods also fill our hearts joy and happy. People used to distribute such special foods also on the occasion of deepavali.

4. Invest in Gold.

People believe that deepavali is the right time to invest in gold and precious metals. So today the stock exchanges also open for long time exclusively for gold exchange traded funds. Those who wish to invest in gold, gold etfs are the safest method to do so.

5. Crackers.

People like to celebrate deepavali with crackers. But now people are more conscious about air pollution and the usage of crackers during deepavali is very less.

Wish you a happy Deepavali

Once again we wish all our readers a happy deepavali. Enjoy a wonderful deepavali

Recent posts


Saturday, 22 October 2011

How to Find a Suitable Life Insurance Policy

Life insurance compensates the loss of income due to the death of a person just like other insurances compensate the financial loss of an asset. Through insurance you can secure the financial loss up to a certain extent. You can ensure the financial stability of your family even after your death through life insurance.  Somebody does not like to join a life insurance policy, because the benefit of life insurance is available after the death of the insured.

Need of life insurance

With life insurance, you can secure the financial stability of your family even after your death.

You can protect a mortgaged property through life insurance. If the person who takes loan died before paying off the mortgage loan, the compensation from life insurance is helpful to settle the loan and release the asset from mortgage.

Children of life insured can meet their education expenses from the compensation of life insurance, if the untimely death of their parents happened before completing their studies.

A business firm can protect their business form the death of business partner.

So everybody with any financial responsibility needs a life insurance to compensate their death, financially.

Type of life insurance

In a broad sense there are two types of life insurance.

1. Term life insurance

2. Permanent life insurance

Term life insurance is temporary insurance for a fixed term, says 10 years, 20 years, 30 years etc. and if the life insured is alive till maturity nothing will get back. This is the cheapest form of life insurance and it secures the financial loss due to the death of the insured for the sum assured. Very low premium for high sum assured and the premium vary from person to person as per the age, health status, term of insurance etc, of the insured. Term life insurance is suitable for younger age and those who have dangerous nature of work.

Permanent life insurance is insurance with high premium but provide benefit to the insured at the maturity also. Whole life insurance, universal life insurance, variable universal life insurance etc. are various form of permanent life insurance.

How to select a life insurance policy

If you could not choose a life insurance policy yourself , you can get help of a financial consultant or an insurance consultant. These consultants know various insurance products and its nature and he can easily help you to choose a suitable life insurance policy for you as per your financial and family status.

An insurance broker also can help you that he is aware of so many life insurance products.

All most all countries allow tax exemption for life insurance premium and amount received from life insurance. Learn more about life insurance policies and choose a suitable life insurance for you and your family.

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Friday, 21 October 2011

IDBI Gold Exchange Traded Fund from IDBI

IDBI Gold Exchange Traded Fund launched by IDBI Mutual Fund on 19th September, 2011. The Gold ETF is an open ended Fund which invest physical gold.

Investment objective of the fund is to invest in physical Gold with the aim to replicate the performance of Gold in domestic prices. The IDBI Gold ETF will adopt a passive investment strategy and will seek to achieve the investment objective by minimizing the tracking error. The ETF aims retail investors.

NFO period-New Fund Offer (NFO) opened on 19th September, 2011 and the NFO period will be over on 2nd November, 2011.

Issue Price of IDBI Gold Fund. The unit price of ETF gold fund is Rs. 100 at NFO and the minimum required investment in the gold etf is Rs. 10000 and multiples of Re. 1 thereafter.

Allotment of Gold Fund. The allotment of the gold fund is on 2nd November, 2011 to the applicants.

First Gold Fund of IDBI. This is the first gold fund from IDBI Group and will invest in physical gold and the bench mark of the fund will be domestic price of gold.

How to buy and sell the gold etf. You can buy and sell IDBI Gold Exchange Traded Fund units with most of the branches of IDBI Bank. The Gold fund can use as a collateral security for getting loan from IDBI Banks and also can exchange with gold jewelry from some jewelers in India.

Entry load and Exit load. There is no entry load or exit load for the IDBI Gold Exchange Traded Fund and it is an open ended fund which can buy or sell any time after NFO period.

Conclusion. Gold exchange traded fund is a safe method to invest in gold and can fetch the real value of gold without taking risk of keeping pure gold and at present the stock exchanges show high volatility and investment in gold is a good method of investing.

Related Posts

Why should you invest in gold?

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Thursday, 20 October 2011

Employees Provident Fund, things should know.

Employees Provident Fund is a statutory and compulsory deduction from your salary and the deducted amount with employers share will be deposited in a recognized provident fund account for the welfare of the employee. A recognized provident fund account may be a government managed fund or the fund managed by private trusts of the organization as per Employee Provident Fund and Miscellaneous Provisions (EPF & MP) Act 1952. Whoever may manage the provident fund, but the rules are same and same benefit should be given to employees.

Benefits of Employees Provident Fund

The Employees provident fund is meant for the retirement needs of the employee those who have no any direct pension from the employer. The Employer also will contribute in the fund so it is called Contributory Provident Fund (CPF) also.

The amount contributed by the employee is exempted from income tax up to Rs. 100000 under section 80C of present income tax act.

The interest earn from Employees Provident fund is also exempt from income tax act.

You can earn 9.5% tax free interest (will be changed as per the policy of government) for both employees contribution and employers contribution.

As the interest is tax free you can earn 10.5%, 11.5% & 12.4% interest as per your tax slab, while consider with other taxable investments.

At maturity the total amount in your EPF account is tax free. But the employer’s contribution will be taxable, if the maturity is before completing 5 years in the same EPF account and if the PF account is not active.

This PF account will be a good contribution for your retirement and at the time of retirement you can invest it in any profitable investment schemes or any annuities and can earn a good regular income.

You can make conditional withdrawal of money from EPF account in certain emergencies such as marriage of children or siblings, higher education of children, purchase of a residential house, treatment specified illness etc., after a stipulated period starting your EPF account.

Things to remember by an EPF Subscriber

Nominate your spouse or children or any immediate relative to get back the money, if you die before withdraw EPF account.

Do not withdraw EPF account when you change your job. Just transfer your EPF account soon after you left your old employer. You can get the compound interest of your account balance and also the tax benefit.

You can contribute an additional amount monthly in EPF account up to 88% of your basic and this additional contribution is known as Voluntary Provident Fund (VPF). The employer will not contribute for the VPF portion, but you can earn the same tax free interest and tax exemption under section 80C up to Rs. 100000.

Make regular checking of your EPF status  to ensure that the employer is depositing the amount in time and the amount is properly crediting in your EPF account with proper interest. Now you can check your PF balance online also. Read step by step instructions to check EPF balance online.

Always keep these in mind about your Employees Provident fund account and secure your old age and retirement life.

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Wednesday, 19 October 2011

Government Jobs in Employment News 15 Oct 2011

Highlights of Government jobs, advertised in Employment News (15 OCTOBER 2011 -21 OCTOBER 2011) are shown below. This time the vacancy of Material Officers, Professors, Scientists, Engineers, LDC, Scientific Assistance, Mazdoors,Ex-ITI Trade Apprentices and so many other vacancies are listed in Employment News (15 OCTOBER 2011 -21 OCTOBER 2011). If you are interested to apply for any of these government jobs, please read the current employment news weekly for more details.

Garden Reach Shipbuilders and Engineers Limited require Material Officers.

Indian Space Research Organisation, Valiamala invites applications for various posts.

Gautam Buddh Technical University, Lucknow requires Professors, Associate Professors and Assistant Professors.

Aryabhatta Research Institute of Observational Sciences, Nainital requires Scientists ‘C’, Engineers ‘B’, Scientific Assistants, LDC etc.

Railway Recruitment Cell, North Eastern Railway, Gorakhpur invites applications for recruitment in Gr. ‘C’ and ‘D’ posts against Sports Quota 2011-2012.

East Central Railway, Railway Recruitment Cell, Patna invites applications for Group ‘C’ category against Sports Quota.

Central Tibetan Schools Administration, Delhi invites applications for various posts.

Employees’ State Insurance Corporation, New Delhi requires Professors, Associate Professors and Assistant Professors.

Employees’ State Insurance Corporation, New Delhi requires Professors, Associate Professors and Assistant Professors.

28 Ammunition Company invites applications for the posts of Mazdoors.

Combat Vehicle Research and Development Establishment, Chennai invites applications for Selection of Ex-ITI Trade Apprentices for Training under the Apprentices Act 1961.

Ammunition Depot Dappar invites applications from Indian Nationals for the posts of Mazdoors.

The above mentioned government job vacancies are advertised in the Employment News (15 OCTOBER 2011 -21 OCTOBER 2011). If you wish to apply for any of these vacancies, we highly recommend to read the employment news weekly or visiting the concerned website of the advertiser.

Related posts
Government Jobs in Employment News 08 Oct 2011
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Tuesday, 18 October 2011

Gold, keep these in mind when you buy gold

Gold is a precious metal and the price of gold is always shows an upward tendency. Gold has its value from ancient time also.  Kings and Emperors were using gold in their thrown and crowns. People use to wear gold ornaments to enhance their beauty. So gold is more important while marriage functions and other related ceremonies. People used to wear more gold ornaments in such occasions.

But you have to be aware when you buy gold as an ornament or as an investment. For making ornaments copper or silver is added with gold for the convenience of making ornaments. The ratio of these metals and gold affects the value of gold. So when you buy gold ornaments or gold coins, the following matters should be kept in mind.

Always ask for a gold purity analyzer

Now all gold jewelries and shops have gold purity analyzer. It is an electronic device which shows you the percentage of real gold in any ornaments in no time. You can confirm the purity of gold you purchase and can pay the real value.

Get Discount for the making charge.

You should pay a huge making charge for fashionable gold ornaments. The making charge is a fixed percentage of the value of gold. It may vary from 5% to 35% as per the ornaments. But you can bargain for the making charge and can save a good percentage of money. When you buy gold for wedding and such related functions you can save a good amount of money in making charge.  Remember that you will not get back the making charge when you sell these ornaments.

Be aware about reduction sales and free making charge.

Some gold ornaments will be sold with discounted price and free making charge. You must be aware that gold has a standard price and it is sold everywhere as per the daily index price of gold. If any jewelry offer discount sales or free making charge, buy gold from such shops only after checking the purity of gold with gold purity analyzer.

The purity of gold measured in carrot

The measuring unit of the purity of gold is known as carrot abbreviated as kt. The pure gold is 24 kt. When the copper or silver is added with, the quality will be reduced as per the norms of each country. In India the normal quality of gold for gold ornaments is 22 kt. When the purity is coming down the price also should be come down proportionately.

Always collect bills for the payment

When you buy gold, you should collect bill from the shop. The shop keeper may say that there will be taxed, if you ask for bill for your purchase. But keep in mind that the bill is the proof of your ownership and you must collect it and keep it with you in safe custody. You should pay only a small percentage as tax. You pay the tax and keep the bill.

If you follow the abovementioned instructions when buying gold you can save money and can assure that you are the proud owner of pure gold.

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Monday, 17 October 2011

List of Mutual Fund Houses (Fund House)

Mutual Fund House normally called Fund house organize and manage mutual funds. A Mutual fund is a trust which accumulates money from investors who have common financial goals and invested in the market in various financial instruments, stocks and securities and the income arise from it will be distributed among the unit holders (investors). The entire process of a mutual fund is done by fund houses.  There are a number of fund houses to issue and manage mutual funds. SBI Mutual Fund, Reliance Mutual Fund, HDFC Mutual Fund, ICICI Mutual Fund etc., are examples of Mutual Fund houses.Fund houses appoint expert fund managers to manage a particular mutual fund. Following are the list of fund houses that operate various mutual funds.

AIG Global Mutual Funds

Axis Mutual Funds

Baroda Pioneer Mutual Funds

Bench Mark Mutual Funds

Bharti AXA Mutual Funds

Birla Sunlife Mutual Funds

BNP Paribas Mutual Funds

Canara Robeco Mutual Funds

Daiwa Mutual Funds

Deutsche Mutual Funds

DSP Black Rock Mutual Funds

Edelweiss Mutual Funds

Escorts Mutual Funds

Fidelity Mutual Funds

Franklin Templeton Mutual Funds

HDFC Mutual Funds

HSBC Mutual Funds

ICICI Prudential Mutual Funds

IDBI Mutual Funds

IDFC Mutual Funds

ING Mutual Funds

JM Financial Mutual Funds

JP Morgan Mutual Funds

Kotak Mahindra Mutual Funds

L&T Mutual Funds

LIC Mutual Funds

LIC NOMURA Mutual Funds

Mirae Asset Mutual Funds

Morgan Stanley Mutual Funds

Motilal Oswal Mutual Funds

Peerless Mutual Funds

Pramerica Mutual Funds

Principal Mutual Funds

Quantum Mutual Funds

Reliance Mutual Funds

Religare Mutual Funds

Sahara Mutual Funds

SBI Mutual Funds

Shinsei Mutual Funds

Sundaram Mutual Funds

TATA Mutual Funds

Taurus Mutual Funds

Union KBC Mutual Funds

UTI Mutual Funds

To know more about each mutual fund house and their mutual funds, please visit concerned websites.

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Type of Mutual Funds to satisfy investors needs
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Type of Mutual Funds to satisfy investors needs

All leading Mutual Fund houses offer a variety of mutual fund schemes to satisfy the financial needs of investors. One can choose any one or a set of mutual funds as per his or her financial goals. The financial goals of each and every investor varies from investor to investor and the investment need is also varies. So SBI Mutual Fund, Reliance Mutual Fund, HDFC Mutual Fund, ICICI Mutual Fund and other major Mutual Fund houses give a wide range of mutual fund schemes. Each scheme has its own strategy, risk pattern and rewards. Mutual Funds can be classified in six major assets classes. These classifications are normally as per the assets which the mutual funds are invested in.

Equity Schemes 

Equity Schemes or Equity Mutual Funds offer Capital Growth or Capital appreciation and the pooled money of investors will be invested in long term and medium term equity related financial instruments of different companies. These mutual funds are good schemes for those who wish to get profit from stock exchanges and other equity related products. These equity schemes are further classified in to Equity/Growth Funds, Sector Funds, Thematic Funds, ELSS Funds, Index Funds and Market Neutral Strategy Funds.

Example of Equity Fund - Reliance Equity Fund - Retail Plan (G)

Debt or Income Schemes 

This type of mutual funds invest the money collected from investors in securities which gives fixed income such as bonds, corporate debentures, Government securities, money market instruments and this mutual fund is organized to give a regular, stable income to investors. This schemes offer short term and long term mutual funds and a major portion of such mutual funds are close ended mutual funds which has a fixed maturity period. This risk involved in this mutual fund is comparatively low with equity schemes.

Example of debt fund - HDFC Debt Fund for Cancer Cure 

Liquid Schemes 

This type of mutual funds invests in short time investment instruments such as cash assets, treasury bills, certificates of deposit, commercial paper etc. The maturity period of liquid funds are ranging from three months to one year. If the financial goal of the investor is to be fulfilled within one year this liquid fund is suitable for them. They can gain from a mutual fund and at the same time they can fulfill their short-term financial goals.

Example of liquid fund - SBI Premier Liquid Fund (SPLF)

Hybrid Schemes

The mutual fund which has a mixed investment strategy of invests in equity securities and debt securities in different proportions. The ratio will be shown in the Scheme document and the ratios may be changed from time to time, if it is mentioned in the scheme information. The investor can gain from stock markets and also from secured investments. The risk factor is a little bit less than equity schemes but more than that of pure debt schemes.

Example of Hybrid Fund - Reliance Regular Savings Fund -Hybrid Plan 

Fixed Maturity Plans (FMP)

Fixed Maturity Plans are a type of debt scheme which has a close ended nature and have a fixed maturity period. This scheme invests money in debt & money market instruments which has a maturity on or before the maturity of the scheme.

Example of FMP -  ICICI Pru FMP - Series 45 - 3 Year Plan - Retail Plan (G) 

Exchange Traded Schemes 

Exchange Traded Schemes or Exchange Traded Funds (ETF) tracks the index of a commodity, or any other assets and acts like an index fund. The ETF can be traded in stock exchange like stocks and the price varies throughout the day as per the changes of the index or the asset represented the ETF. Gold exchange traded funds are very popular now.

Example of Exchange Traded Fund - Reliance Gold Exchange Traded Fund.

The above mentioned type of mutual funds are varies as per the investment strategy and the assets invested in. To take advantages of mutual fund the investor should plan mutual funds as per the financial goals.

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Fund of Funds (FOF) is the best option for Mutual fund investors

Saturday, 15 October 2011

Check PF Balance online with 7 Simple Steps

The Employees Provident Fund Organisation (EFPO) allows you Check PF balance online at any time. Just follow these simple steps to know your Employees provident fund (EPF) balance on your mobile phone. Read the entire post carefully before visiting the EPFO website.

1. Select PF Office State. This is the first step to check PF balance online. Select the State where your PF office is situated from the first Check PF Balance Onlinedrop down Window.  Check with your employer, if you do not know you the state at which your PF account is maintained.

Data Available For 119 Offices

Total requests served: 7420108 (updated - 11-07-2012 17:45:01)

Select your PF Office State


Example: Select Delhi for the PF office in Delhi where your PF account is maintained

2. Select your PF Office. Select your PF office from the Popup window “Select your EPFO Office

Example: Select DELHI (NORTH) if your PF office is Delhi North

3. Enter your PF Account Number. Type your PF Number in the next Popup Window. Your PF account may have Alphabets and Numerals. The Alphabetic portion will already be there. You should enter the Numeral part only. If there three  sets of Numeral Numbers,  place first set in the first empty column, second set in the  second empty column and the remaining part in the last column.

IF you have only two sets of numeral parts in your PF Number, avoid the second empty column. Fill first part in first column and second part in third column. You should fill anything in the middle in such case.

Example : IF your PF account Number is DL/CPM/ 6445/581/199

Type :

6445 in the first empty column

581 in the second empty column

199 in the third empty column

IF your PF account Number is DL/CPM/ 6445/199


6445 in the first empty column

199 in the third empty column

4. Enter your name. In the next box fill your name as in the PF slip. You should give the correct name with correct spelling, unless your name will not match with the EPFO records. Example: Jerry Jose

5. Enter your mobile phone number. Enter your mobile Number in the box provided for the same. Enter one mobile No. for one PF account and the mobile number will be added to your PF account. Now you can check PF Balance Online from the SMS they sent you to your mobile No. If you enter the same mobile number for more than one PF accounts. You will get the following warning message.

“WARNING: Information has been accessed for different EPF accounts against the same mobile number several times. Please verify. Any misuse of this facility in any manner will attract suitable legal action under relevant laws.”

6. Agree the terms and conditions. Read the terms and conditions carefully in the next box and click on the box for “I Agree”. IF you are not agreeing to the conditions written there, you will not get the balance in your mobile.

Last Step to Check PF Balance Online

7. Submit your details. After clicking “I Agree”, the submit button will be clickable and click to submit the details to check PF balance online.  After the successful submission of the details, you will get the following message

STATUS for Member ID: DS/CPM/0006445/581/0000199

Your EPF balance has been sent through SMS on your specified mobile number. You shall receive the SMS shortly. 

**Data updated till 09-07-2012 17:33:35

And you can check PF balance online through the SMS in your mobile number after some time. This is convenient for PF subscribers to check PF balance online and also can check the accuracy of the PF amount in your account.

Now Click here to Check PF Balance online

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Monthly Provident Fund Statement to all PF Subscribers

Friday, 14 October 2011

No Maximum limit for Post Office Savings Account

The maximum limit of balance in the Post Office Savings Account has been removed by an order dated 27.09.2011. The Maximum limit of Post office savings account was Rs. 100000 for single account and Rs. 200000 for joint account. But now that limit has been removed and the Post office saving account holders can hold any amount in the account just like other savings account in banks. This has done through an amendment of Post office savings account rules 1981. The major benefits of the amendment rule is follows:-

There will be no limit for retaining balance in post office savings account, from 01st October, 2011 onwards, whether it is a single account or joint savings account.

The depositors can deposit any amount in Post office savings account irrespective of the number of account holders.

Maturity value of any post office savings schemes, irrespective of the amount can be credited in the post office savings account.

Any cheque issued by anybody else can be credited in post office savings account.

As per Section 10(15) of Income Tax Act the interest on post office savings account up to Rs. 3500 for single account holders’ and Rs. 7000 for Joint account holders’ will be exempted from Income Tax with effect from the financial year 2011-12.

The depositor should show the interest income above the above mentioned limit in his or her income tax return and should pay tax accordingly. This is the duty of the depositor.

With all these amendments the Post office savings account also uplifted to the other savings accounts in any banks. The depositor can use the post office savings account also just like other savings account. The interest exemption from income tax is an added advantage from other banks savings account. There is no such tax exemption for interest on savings account in other banks. No doubt the depositors will welcome this new amendment whole heartedly and the benefit of this amendment is more useful in villages where there are no other banking facilities.

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Income Tax on Post Office Savings Account

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Wednesday, 12 October 2011

HDFC Mutual Fund launched HDFC Gold Fund

HDFC Mutual Fund launched HDFC Gold Fund on 07th October, 2011. This is a Fund of Fund which invests in HDFC Gold Exchange Traded Fund. The investment objective of the HDFC Gold Fund is getting capital appreciation through the investment in HDFC Gold Exchange Traded Fund (HGETF). At present the Mutual fund offer only growth option.

Opening and Closing Date of NFO 

The HDFC Gold Fund is already launched in the market form 07th October, 2011 and the new fund offer will be closed on 21st October, 2011 and the offer price of each unit in NFO period is Rs. 10.

Minimum and Maximum Investment 

The Minimum required investment in HDFC Gold Fund is Rs. 5000 and the multiples of any amount thereafter at NFO period. After NFO period the minimum investment is Rs. 5000 and multiples of Rs. 1000 thereafter.

But for Systematic Investment Plan (SIP) in NFO period and after NFO period, the minimum monthly investment is Rs. 500 and for Quarterly SIP, the minimum quarterly investment is Rs. 1500 and multiples or Rs. 100 thereafter for both cases.

Lock in Period 

As it is an open ended fund the HDFC Gold Fund has no any lock in period. The investor can redeem it or switch over in any time after allotment with 2% exit load for the fund before 6months of allotment and 1% exit load before completing one year of allotment, but after 6 months.

Investment Portfolio of HDFC Gold Fund

95% to 100% of the pooled money of HDFC Gold Fund will be invested in HDFC Gold Exchange Traded Fund which has Medium to High risk profile and 0% to 5% will be invested in Reverse repo and /or CBLO and / or money market instruments and/or Schemes which invest predominantly in the money market securities or Liquid Schemes with low risk profile.

At present the world stock market shows a volatile trend and investment in Gold is appreciating up to certain extend. Gold Funds and Gold Traded Funds make convenient the investment in Gold. So we recommend a part of (say 10%) your investment portfolio may be in Gold.

Related articles

Reliance Gold Saving Fund from Reliance Mutual Fund
SBI Gold Fund,Conveniently Invest in Gold
Gold investment – different methods

Tuesday, 11 October 2011

Government Jobs in Employment News 08 Oct 2011

Government Jobs are advertised in Employment News (08 October 2011 – 14 October 2011).  Job highlights of Employment News (08 October 2011 – 14 October 2011) is listed below. Employment News weekly shows many government job vacancies which you can apply for. For the convenience of our readers we are posting here the highlights of Government job vacancies advertised in the latest edition of employment news weekly. Those who are interested in any of the government jobs should read more about the job from the Employment news or the concerned website to know more details.

Union Public Service Commission invites applications for various posts.

Union Bank of India requires Customer Relationship Executives.

Ordnance Factory, Itarsi requires Chemical Process Workers, Turners, Fireman, Fitter.

The Indian Navy invites application from unmarried Indian Citizens for Short Service Commission (SSC) as Pilot/Observer in the Executive Branch.

The Indian Navy invites application from unmarried male candidates for grant of Permanent Commission in Logistics, Naval Armament Inspection Cadre or Education Branch.

The Indian Army invites application from married/unmarried name candidates for grant of 38th Short Service Commission (Technical).

Parliament of India invites applications from Indian Citizens for the posts of Junior Clerks in Lok Sabha Secretariat.

Government Engineering College, Bharatpur required Associate Professor, Professors and Assistant Professors.

Indira Gandhi National Tribal University, Amarkantak invites applications for various posts.

Jawaharlal Institute of Postgraduate Medical Education and Research (JIPMER) require Staff Nurses.

South Eastern Railway invites applications for recruitment against Scouts and Guides Quota-2011-2012 in Group ‘C’ and ‘D’ categories.

Headquarter, Eastern Naval Command, Vishakhapatnam invites application for various posts.

If you are interested in any of the above mentioned government job vacancy, we highly recommend for reading the Employment News (08 October 2011 – 14 October 2011) for more details such as educational qualifications, pay scale, maximum age etc.

Related Posts

Employment News Job Highlights 01 Oct 2011 

Employment News Job Highlights 17 Sept 2011

Employment News Job Highlights 24 Sept 2011

Monday, 10 October 2011

Stock Market Investment, how to select shares

Stock market investment is a high liquid investment. At any trading day you can convert it into liquid cash. But one should give much care and attention when select a share to invest in. If you have a trading account and Demat Account you can invest in shares and can trade with shares.

But investment in stock market is not an easy thing. One should study the market and the individual share with a researching mentality. You should analyze the market and particular shares you wish to invest.

There are around 3000 shares are listed in Indian stock market. Out of these 3000 shares and investor must select a few profitable shares. The first and foremost thing is that the investor must select shares from strong companies. But how can we find a strong company? The investor should study and analyse the following things about a company where the investor is interested to invest in.

Know about the business of the company

An investor must study about the business of the company. What business they are doing? Is it a manufacturing company or a service providing company? What type of products they are dealing with? What is the demand and supply of the product? What competition the company should face in the market with whom? If it is a manufacturing company, what are the raw materials and the availability of the raw materials? What is the capacity of the company? Is the company is working at equilibrium point? Are there any promotional chances for the company? What are the challenges and weaknesses of the company? The investor must find answer for such so many questions before buying  shares of the company? When you wish to purchase a house property, you will check all aspects of the house. Just like an investor in shares should check all aspects of the business and shares as they are sharing the ownership of the company with other share holders of the company. So they have to see all aspects of the business of the company.

Management of the company

The investor must know that who is running the company and how. Are they hard working, Competitive etc., Are they running any other business and if so how it is going on? Are they keeping interest of the share holders and they are capable to lead the company to profitability etc., should be checked by the investor.

Whether the company is profitable or not

If all other aspects are fine, the company could not make profit from the business, it is not advisable to invest in such companies’ shares. If the company is continuously running in loss, you must not buy shares of that company. The net profit after tax must be a favorable figure comparatively with their capital investment.

Value of shares is justifiable or not.

The investor must see whether the current market value of the shares of the company is justifiable or overvalued. If the shares are overvalued, you should not buy such shares. So the investor must check the value of shares with a few valuation techniques such as Price Earnings ratio (P/E ratio) Market Value ratio (MV ratio) etc.

Read more about the share and the company

You must read more about the company to know the status and position of the company. You may discuss with any stock investors forum to know the opinion of other stock investors. You can seek the advice of a reliable stock broker. You can evaluate all news about the particular shares. You should study Today stock market, world stock market, live stock market, stock market tips, stock market news etc., to evaluate the shares you are going to buy. World stock market, Indian stock market etc. may affect the value of your shares.

After investing hold it for a long time.

If you are not a day trader, you can hold the shares for a long time, if you invest in strong companies’ shares. When the time goes, the reputation and profitability of the company will be stronger and the value of your shares also will be more.

Related articles
Stock Market Trading, the things should be considered.
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Sunday, 9 October 2011

Aviva i Life, aviva term life insurance plan

Aviva i Life is a term life insurance plan from Aviva India, one of the life insurance providers in India. Aviva i Life is a pure online term life insurance plan which gives the sum assured to the nominees as the death benefit of the insured. But if the insured alive till the maturity, no any amount will be received. Aviva i Life is one of the cheapest term life insurance plan in its kind.

As an online term life insurance plan you can save the agent commission also from the premium. So it becomes cheaper. This is one of the best term life insurance plans those who wish to insure with a high sum assured. The higher the sum assured the premium will be comparatively low.

Benefits of Aviva i Life policy.  As it is a pure term life insurance the sum assured will be given to the nominee at the death of the insured. As we mentioned above there is no any maturity value for the policy, as it is a pure protection plan. The insured can avail tax exemption under section 80C of the present income tax rule for the premium paid for the concerned financial year.

Features of the Aviva i Life policy

Sum Assured. Minimum sum assured is Rs. 25, 00,000 and there is no maximum limit of sum assured for the policy.

Age of Entry. The minimum age of entry of the online term insurance policy is 18 years and the maximum entry age is 55 years.

Age of Maturity. Maximum age of maturity of the term plan is 70 years

Term of policy. The Minimum term of Aviva life insurance policy is 10 years and maximum 35 years and the premium paying term is same as the term of policy.

Premium payment plan. Premium can be paid by half yearly or yearly and the premium payment plan can be switch over in policy anniversaries with the payment of a nominal alteration charge. The present alteration charge is Rs. 100.

Rebate on premium. It is according to the amount of sum assured. The premium will be comparatively less than small sum assured such as below 50 lack, below 1 crore etc. There is 5% rebate of premium of the term policy for females.

Other details

Only resident Indians can apply for the Aviva i Life policy. Premium may be varied as per the profile and health status of the person insured. You can apply online from the Aviva India’s website and the documents such as Photo identity, Pan Card; income proof etc can be uploaded for the speedy processing.

If you stop paying premium, all benefits will be stopped after the grace period of the premium. But you can renew the policy within 2 years of stopping the premium by paying the premiums due and interest thereof. There is neither any surrender value nor any loan is available against the premium.

Premium for Aviva i Life online term life insurance

The following table shows the annual premium payable for Aviva i Life online term life insurance calculated as per the Aviva India’s Aviva i Life term insurance premium calculator.

The premium calculated for non smoking male as follows (Premium may be changed as per the profile and health status of the insured)

Annual Premium for 20 years of Age (Date of Birth 01st April, 1991)

Term of                             Sum Assured in Lakhs

Policy                         25           50          100           200

Annual Premium in Rs.

10 yrs                      2966        3847        6675        13351

20 yrs                      2968        3853        6686        13373

30 yrs                      2971        3858        6697        13395

For 30 years of Age (Date of Birth 01st April, 1981)

30 yrs                      3565        4550        8127        16254

For 40 years of Age (Date of Birth 01st April, 1971)

30 yrs                      6855        8397        15813      31625

The above table shows that if a person join the policy at an young age, the premium payable will be very less and it will be increasing when the entry age becoming high.

Aviva i Life online term life insurance is more suitable for young professionals and we recommend to join any pure term life insurance at an young age and for the maximum term and make secure the life of your beloved ones.

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Life Insurance – How much should I Insure

Saturday, 8 October 2011

Life Insurance – How much should I Insure

Life insurance is supposed to maintain almost same financial status to the dependents of a deceased person when he or she is alive. But how much money should need to maintain the same financial status. Can you imagine? If you are an earning person, your earnings will be increased over time due to various factors.  But after your death, could your family can survive as you are alive. 

Nobody can predict the financial needs of a family after their death. The circumstances may be changed and the needs also. But financial experts tell that one should need a life insurance worth around 10 times of his or her annual income. If you are getting an annual income of Rs. 5 Lakh, you have to take life insurance policy which could earn Rs. 50 Lakh after your death.

But this may differ from person to person and family to family. Some of your income may continue to be received even after your death. Rent, interest, profit from your business etc. Then you can reduce such income while calculating the desired sum assured. So you have to find out your sources of income which could be continued as a sources of income even after your death.

Calculate your families annual expenses. You can easily determine it by making a family budget. You should consider all expected expenditures such as expenses of food, education of your children including higher education, entertainment expenditures, medical expenses, marriage of your children, loan repayment, paying off liabilities etc. Consider whether your spouse is a stay at home person or working. Reduce all income which can earn even after your death. Then multiply the amount with 10 to calculate 10 years desired income. This should be your sum assured for your life insurance. At least this much amount could be received by your dependents from your life insurance after your death.

The amount may be high and the expected premium for life insurance for the desired sum assured is also may be a high amount. But we strongly advise you to g o for a pure term life insurance and if it is an online term life insurance the premium will be very less. Start such insurance as early as possible to reduce the premium amount and the maturity should be near about your retirement age.

Do not forget to make a Will and show all the details and mention to whom your assets including insurance claim should be given. Read more about making a will in time. So keep an adequate sum of life insurance and update it time to time.

Read more about online term life insurance.

Life insurance, secure your family financially

Friday, 7 October 2011

15 Money Saving Tips which can follow easily

If you look around you can see so many money saving tips. You may think that you should avoid some necessary expenses from your life to save money. But if you are a little bit cautious you can find many small things which make big holes in your pocket. The important thing is to find it out and avoid such things or reduce the use of such things.

Lead a healthy lifestyle. One of the important unavoidable expenditure in your life is cost of medical treatment. But you can reduce such cost by leading a healthy life style and healthy eating habit. You may think that a good health insurance may solve the problem of medical treatment expenses. But do you know that the a healthy life style will reduce the cost of medical insurance and life insurance up to a certain level.

Be a good driver. If you are an expert cautious driver, you can reduce the cost of your travel and conveyance expenses including your vehicle related expenses such as cost of auto insurance, cost of repair and maintenance of your vehicle, fuel cost of your vehicle etc., and you can save a good portion of your income by having a good and healthy driving habit.

Be prompt in your bill payments. If you pay your utility bills and credit card bills in time, you can avoid penalties and interest. By this way you can save a few bucks in a year.

Good cooking habit. A good cooking habit not only reduces your gas bill but also reduce the cost of eating out. You can reduce the frequency of eating out and can save a good portion of money.

Reduce your electricity bill. Use CFL lamps and use the electrical equipments carefully and follow manufactures directions, switch off all electrical items soon after use etc., will reduce your electricity bill.

Reduce investment cost. When you go for investment try to invest good investment schemes with good income and low cost. If you are vigilant you can reduce the investment cost of Mutual funds, stocks etc.

Choose service providers wisely. You may have internet connection; Telephone connection and Cable T.V network connection. But some service providers will give all these services together with a good discount. Go for such connection and avail monetary discount and the privilege of paying a single bill for all services.

Switch over to prepaid mobile connection. This may reduce your telephone bill a little bit less and when you choose prepaid connection you can change the service provider easily. So if convenient go for prepaid mobile connection and can avail various discount offers.

Purchase things online. Online shopping gives you more discounts and voucher coupons and when you purchase online the manufactures or wholesalers should no pay huge commission to retailers and you also will get a part of the benefit. Search online and purchase things or purchase form a particular online shop such as eBay, etc. and avail more regular customer benefits.

Avail cash backs and reward points. Purchase things with credit cards and avail cash back offers and redeem reward points for your regular purchase. Some partnership credit cards offers redemption facility of reward points with regular purchasing items such as petrol, clothes etc.

Purchase on happy hours. Some retailers and restaurants offer a good discount on happy hours where there is no much rush in their shop. If your time is suitable, try to purchase on such happy hours and avail the discount offers.

Purchase more quantities and avail discounts. Some shop keepers offer heavy discount for bulk purchase. Avail these discounts, if you need such items.

Avoid unnecessary loans. Go for a loan only if you cannot afford without the loan. For a loan you have to pay processing charges, interest etc. and this must be paid from your hard earned money. So try to avoid loan if you can.

Pay off your loans. You should pay off all your loans as soon as possible and try to pay off the loan with high interest first and then with low interest.

Insure you assets. No doubt you can compensate your monetary loss from theft, fire, natural calamities etc., by insuring your assets.

If you follow the above mentioned easy to follow money saving tips, no doubt you can save a good portion of your regular income and can improve your financial status, which is helpful to fulfill your financial goals. See money saving tips video

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Thursday, 6 October 2011

Prepare your Will today itself to avoid confusion

Prepare your Will today itself, if you have not made a Will yet. Without a Will you cannot guarantee that your properties will be owned by your spouse or children after your death. You may think that you have nominated them for your deposits and bank accounts. But only a Will can assure that your wealth will be distributed among your beloved ones after your death.

A Will is a document which has your directions to the way of distributing your assets and belongings to whom after your death. In India a person with an age of 21 or more can make a valid will. A Will can be made in plain paper also. It is better to write yourself in your own handwriting than typing the Will or writing by anybody else to avoid disputes after your death.

Will must give a clear idea of your intention and you should write your name, address and your age to know that you are in sound situation when you write the Will. List out all your properties and investments and if possible mention the estimated value also. Mention your liabilities also to be paid off and how to pay off them. Give a clear idea of what proportion of which assets you wish to give whom. Write the name of those person you wish to give your assets other than mention “my spouse” “my elder son” etc. to avoid fake relatives.

Make sure in writing that you have revoked all other Wills you have made before this Will. Normally the last will is considered as the legal Will. Do not forget to sign the bill at the end and the end and both sides of every page with date and time. Get the signature of two loyal witnesses, who are not the beneficiaries of your will, on every page and end of the Will.

Appoint an executor who is a trusted person to do and ensure that the assets and belongings are divided properly as per your Will. Make a second executor also, if the first one died before you. Make provisions to charge all related expenses regarding the execution of your Will from your assets.

In India it is not compulsory to register the Will; just writing in plain paper with the signature of two witnesses is enough. However you can register the Will, if your wish to do so. You can keep the Will in a safe place, but you should make sure that the Will be found by concerned persons after death. Make two or more photo copy of the same and individually sign all copies and keep in various places.

When you write the Will you should mention your assets which have full ownership right for you. If you have shared ownership or lease hold you must mention the type of ownership and the percentage of your ownership to avoid confusion or dispute.

A Will is to avoid all confusion and disputes regarding the sharing of a deceased persons belongings. It should not make more confused and miserable. You must make the Will with justice also. We mean that giving a lion share to one son and a bad portion to other one without any particular reason. Even if it is your wealth, distribute among your beloved ones without any confusion. After the execution of the Will also, the love and consideration among your beloved ones should be continued.

If you have any doubt you can consult a lawyer. A Will must create love and care among relatives, not confusion and rivalry. You can make the Will with condition also. For example, if you have any liability, clearly state that who should pay off the liability and how. We hope that our readers will make a Will today itself to secure the life of your beloved ones.

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Wednesday, 5 October 2011

Aakash Android Tablet, World's Cheapest Tablet

Aakash Android Tablet, World’s Cheapest Tablet launched. This is 7 inch touch screen tablet with Android 2.2 operating system. The weight of this Aakash tablet is 350 grams with 800 x 480 resolutions. This tablet comes with WiFi connectivity, optional 3G modem support, 2 USB port, 256 MB RAM, 32GB expandable memory port, 3.5mm headphone jack and will support  formats such as DOC, DOCX, PDF and PPTX etc. The newly launched cheapest Aakash Tablet comes with 12-month replacement warranty.

The Government of India is buying the Tablet for Rs. 2250 each and wishes to distribute to students for free in a pilot run of 100000 units.

"The rich have access to the digital world, the poor and ordinary have been excluded. Aakash will end that digital divide," Kapil Sibal, Telecoms and Education Minister said.

The Aakash Android tablet is running with a rechargeable battery which can be continuously used for 2 to 3 hours.

The tablet is manufactured by a British based company in India and will be available in the market from November, 2011 onwards with an expected cost of Rs. 2999 and when the product will be in full swing the cost may be further reduced.

India is far behind four using connected technologies and internet and we hope that this low cost Aakash Android Tablet will allow connecting a majority of India’s population with internet and other information technologies. This new revolution is more useful for students and our government is trying to introduce it among school students also. The Government planning to give 50% cost for students. And we can assume that our students will take all positive advantage of this new invention and information technology.

Recent posts



Employment News Job Highlights 01 Oct 2011

Employment News (01 October 2011 – 07 October 2011) Job highlights listed below. Employment News weekly shows many government job vacancies which you can apply for. The highlights of such Government Job Vacancies posted here for the convenience of our readers. If you are interested to get a suitable Government Job, you can apply for.

University Grants Commission notifies UGC National Eligibility Test for Junior Research Fellowship and Eligibility for Lectureship. Public Service Commission invites applications for various posts.

Staff Selection Commission notifies Recruitment of Scientific Assistant in Indian Meteorological Department, 2011.

Indian Oil requires Engineers through GATE-2012.

Footwear Design and Development Institute invites applications for various posts.

Indian Institute of Technology, Madras invites applications for various posts.

Bharat Heavy Electricals Limited, Bhopal requires Artisans.

UCO Bank, Kolkata requires Specialist Officers.

Malwa Gramin Bank, Sangrur requires Officer Scale-III, Officer Scale-II, Officer Scale-I and Office Assistant.

Headquarter Training Command, Indian Air Force, Bangalore invites applications for recruitment of Group ‘C’ (erstwhile Group ‘D’) Civilian posts.

Indian Audit and Accounts Department, Kerala requires Multi-Tasking Staff.

Intelligence Bureau requires Personnel Assistants, Junior Intelligence Officer Grade-II (Wireless Telegraphy) and Junior Intelligence Officer Grade –II (Electronics Data Processing).

Ordnance Clothing Factory, Avadi requires Tailors Semi-skilled.

If you find any of the abovementioned government jobs suitable to you and wish to apply for the same we strongly advise you to read the Employment News (01 October 2011 – 07 October 2011) or visit the concerned website of the advertiser for more details including educational qualifications, salary scale, experience and the method of submitting application etc.

Related posts

Employment News Job Highlights 10 Sept 2011

Employment News Job Highlights 17 Sept 2011

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Tuesday, 4 October 2011

Investment Ideas to make your money grow

There are so many investment methods around you and the important matter is to find a suitable and profitable investment idea to grow our money legally. Each and every investor wishes to grow their investments. But in a few methods you must give much attention to make grow your money. Otherwise you will loss all your effort in no time. Here we try to list out a few investment ideas in the order of lower risk factor to higher one.

Short term deposits

Bank deposits including saving account, recurring deposits and short term fixed deposits etc. are included in this method of investment. This is considering as the safest method of investment. Because, there is no risk factor in it. But the income from such investments is very low comparatively with other investment ideas, but the income is guaranteed.

Government Securities & deposits

National Savings certificates, Public Provident fund, Post office Monthly income Scheme and such related investments can be included in this category of investments. These investments are also included in safe investments, but the money will be held up for a fixed time period and can withdraw only after such time period. Some relaxation is there in case of time period with some penalties. This investments are good and safe and the investor can earn an interest income more than the above motioned short term deposits. Most of these schemes are tax saving investments and the interest of a few such investments is exempted from tax also.

Gold investments

The idea of Investing in gold is also a good investment method and the investor can earn profit when the gold is selling back. You can invest around 10% of your total investments in gold and can keep it as a cushion against inflation.

Mutual Fund Investments

Investment in Mutual funds also considered as a good investment idea and the fund house will manage the pooled money of investors and the investor will get back the enhanced Net Assets Value or dividend as the case may be. Mutual funds are also affected by market fluctuations, but it is managed by professional fund managers and they can handle it professionally to get the maximum benefit.

Real estate investment

Invest in immovable properties such as house property or land is also a good investment method. The investor can earn rental income or profit from the escalation of price or both. Invest in construction linked property in developing areas is a good option in real estate investment. Investment in real estate need large capital investment or you should go for any mortgage loan. Different Methods of real estate investments

Stock Market investments

Investing in stock market is also a good investment option and it is riskier than all the above mentioned investment options. Investment in stock market requires more training and experience. At the beginning you can seek help from any stock brokers. Learn all aspects of stock trading

Forex trading

Forex trading or foreign exchange trading is becoming more popular and the margin form exchange of currencies of different countries is the profit. You can see so many forex trading platforms and some of them are offer free training with free virtual money. When you get enough experience you can turn to real trading.

All the above-mentioned investment ideas are practical to common man and some of them need training and experience. If you decided to go with any of the above mentioned investment ideas or a few of them, keep in mind that all your eggs should not lay in one basket. Diversify your investments and investment methods and allow to grow your money. Keep in mind that it is your hard earned money and take enough precautions before taking any step ahead. Ultimately all these must help you to satisfy your financial goals.

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Monday, 3 October 2011

Reverse Mortgage brings Money for Senior Citizen

Reverse Mortgage is a method of bringing money to senior citizens to survive without others help.  Through Reverse Mortgage, banks give money to senior citizens by converting their fixed assets such as house property, Land etc. In terms of bank they allow loan to senior citizens by mortgaging their equities (fixed assets which has no any other claim or liability).

Reverse Mortgage is an agreement between the senior citizen (Borrower) and the lender (Bank). The borrower is supposed to pledge his property which has no any other claim (liability) and the bank allows loan in a lump sum or regular payment over a period of time or the life span of the borrower. The borrower can avail money periodically throughout his or her life, or a lump sum payment.

The borrower should not pay off the loan in his or her life time and the property will be with the borrower and he can enjoy the full right of the property and any income from the same, if any. The borrower can spend the money as he or she like and the borrower should not mention any particular purpose.

When the borrower dies the property will be sold by the bank (lender) and the principal amount along with interest will be kept by the bank and the left over will be given to the legal hires of the borrower. (Normally after the death of the borrower the lending institution approaches the legal hires to pay off the principal amount and interest.  If they could not pay off the same the lenders will sell off the property) If the sale proceeds are less than the principal amount and interest, the borrower will suffer the loss. (Normally the bank will not lend more than the expected value of property)

The borrower can make free their property any time by paying the amount withdrawn and the interest thereof to the lender.

Reverse mortgage is helpful to senior citizen those who have no income and normally banks will not give any loan to them in consideration that they could not pay off the loan. But if they have any house property or such fixed assets they can go for a reverse mortgage and can enjoy a lifetime income without selling off their property and they can enjoy the full right of the property till their death.

This is helpful for senior citizens those who have nobody to look after their financial needs. This reverse mortgage can be in joint name also with his or her spouse.

The reverse mortgage is popular in United Kingdom and U.S.A and now it is being popular in India also. In India the reverse mortgage is available in Dewan Housing Finance, State Bank of India, Punjab National Bank, Bank of Baroda, Central Bank of India, Union Bank of India, LlC Housing Finance, Indian Bank, Andhra Bank, Corporation Bank and Canara Bank.

Bank gives the payment for minimum 10 years and maximum 15 years and some banks in India allows another extension also as per the value of the property pledged. If borrower is still alive even after the payment term the bank will allow the borrower to stay in the house till his or her death and only after the death they will settle the loan amount.

Normally after the death of the borrower the lending institution approach the legal hires of the borrower to pay off the principal amount and interest.  If they could not pay off the same This Reverse mortgage is a good method of getting benefits of your home or fixed assets by retaining the ownership and also without making any repayments. This is a good solution for the financial needs of senior citizen after retirement and helps them in regaining their feeling of independence. The minimum age of availing reverse mortgage is 60 years and in joint name the wife should have at least 58 years of age.

Reverse mortgage is suitable for the old age retired people who do not have any income to survive and have a house property their own and nobody is there to look after their financial needs.

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