Saturday, 31 December 2011

Happy New Year to all our readers and visitors

The year 2011 is already gone and we are welcoming a new year, the great year 2012.This is the time to check all our works and deeds in the last year. Yes we can check our investments also. Find out the ups and downs of your investments. There may be profit or loss, your money and investments may have grownup or diminished. Find out all diminishing tendency and try to rise up to the occasion. Study all growth and check how it is happened.



You could count all your efforts whether it is achievements or failures. Each failure must be a lesson for new achievements. No doubt you can win in this New Year 2012. Check your portfolios, investments, mutual funds, real estate investments. Your stock investments may fall at the end but your gold investments are in its peak. Yes you are on the journey of reaching your financial goals. Keep your goals intact and refresh your financial goals as per your current situation. Reach out your goals in time. Add a few words of prayer with all your efforts so that the almighty may lead you in the right path throughout the New Year and your whole life.

We investmentsandmoney.com wish you a bright and happy New Year

Happy New Year to all our readers and visitors


Recent Posts


AICPIN for the month of November, 2011 is 199

AICPIN-IW (All India Consumer Price Index Number for Industrial workers) for November, 2011 is 199 (Based on 2001=100). AICPIN for the month of November, 2011, is published by Ministry of Labour & employment. AICPIN for October 2011 was 198 and now it is just increased one point and reached 199. 

The AICPIN – IW for the month of  July was 193, in August, 2011 AICPIN was 194 & September 197 , in October, 2011 it was 198 point. When find the D.A of Central government employees, the AICPIN for industrial workers  consideredas a base.

The difference in AICPIN is happened due to the fluctuation of the price of necessary items such as wheat, edible oil, rise, vegetable, firewood, kerosene, clothing and similar items. This time in November, 2011 the maximum increase in Consumer price index numbers is recorded as 12 points in Mysore centre and the maximum decrease of 5 points in Lucknow centre. 

The differences in indices of the six major centers are as follows: in the order of November, October, September, August and July 2011.

Centre                               Nov  -  Oct -   Sept   -   Aug    -   July

1. Ahmadabad       -        192  - 195   -   193     -    191    -    188

2. Bangalore          -        200 - 198   -   197     -    194   -    194

3. Chennai              -        180  - 178   -   175     -     172   -    168

4. Delhi                    -        182  - 184   -   182    -    178    -    178

5. Kolkata               -        189  - 191    -   193    -    192    -    186

6. Mumbai              -        201  - 201   -   199    -    195    -    194 

Ahemadabad, Delhi & Kolkata shows a decreasing trend and Bngalore, Chennai & Mumbai shows an increasing trend. One of the important observation of AICPIN for November, 2011 is that the maximum increase in centre wise consumer price is very high (12 points) and the maximum decrease also shows as extreme difference of 5 points. 

The current trend of AICPIN shows that the next Expected D.A for January, 2012 will 65%. As per the current trend ofAICPIN, Dearness allowance, Expected D.A on January 2012 can accurately calculate after publishing the AICPIN for the month of December, which will publish on 31.01.2012.

 AICPIN for the month of November, 2011 is 199


See the calculation of D.A

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Friday, 30 December 2011

Finance tips & money spending habits for New Year

The year 2011 is almost over and a New Year is coming with all its hopes and expectations. This time we can take some decisions about our money spending habits and financial planning tips which are helpful to secure our financial future. If you follow these decisions strictly you can meet your financial goals easily. So think a lot about these tips and take a positive turn in your financial life to improve your economic status in this New Year, 2012 onwards.

Spend as per your income: This is the first thing we must keep strictly. Whatever may be our needs try to satisfy your financial needs within your income. Yes human wants are unlimited and each and every human being is compelled to satisfy all their financial needs with the limited resources he has. So do not overspend and destroy your financial life with debt and loss. Fix a priority for your needs and satisfy the most needed items first with your limited income. When you divide your counted bread, divide it properly and wisely. When you need bread, do not go for cake, satisfy with bread. You can go for bread occasionally, only if you can afford it easily.

Differentiate necessity and luxury: Try to break your high spending habit. You must give priority for your necessities than your luxuries. Avoid all unwanted luxurious items to cut your budget. Do not go blindly after high brand names. Grow a habit of cheapest items without compromise quality. Brand names offer quality products, but remember that some non popular brands also offer high quality products. Make a market study before buy items. Fix priorities for your necessities and give only second or third choice for luxuries. I do not mean that you become a miser, only say that avoid your unwanted luxuries which increases your budget very high.

Stay away from credit cards: Credit cards are convenient to use. Purchasing items with credit card is very easy. But do not overspend while using credit card. Here also you should control your purchases as per your income, unless you will fall prey of the trap of credit cards. Use credit card for convenience, not as device for spending more. Pay credit card bills fully on or before the due date.

Avoid unnecessary loans: Now it is a fashion to buy things on loan or instalments. But each and every loan or higherpurchase attracts interest and a part of your limited income is for paying interest on such loans. So avoid loan and habit of taking loan up to a certain extend. At the same time, pay off all your debts starting from high interest loans first. Do not allow interest to eat out a major part of your income.

Start savings: Grow your saving habit from the margin money you earned by keeping all the above habits. Start a small monthly saving in the form or recurring deposit in banks or post offices, Systematic investment plan or any other form of investments which helps to grow your money to satisfy your future financial goals.

The abovementioned simple financial tips help you to satisfy your financial goals up to a certain extent in the coming New Year and this will keep up your financial discipline and spending habit which is useful for your whole life.

Related Posts

Muthoot finance NCD offer double money in 5.5 years
New REC infrastructure bond offer 8.95% & 9.15%
Invest in Government of India small saving schemes

 

 

Thursday, 29 December 2011

Government Jobs in Employment News 24 Dec 2011

Government jobs listed in employment news 24 December 2011 – 30 December 2011. Government jobs listed in employment news 24 December 2011 – 30 December 2011.  Followings are the Job highlights of the Employment News 24 December 30 December. The job list in employment news is reliable and useful for those who are looking for a better job placement with government jobs. These job highlights are for the convenience of our readers and visitors. We strongly advice that those wish to apply for any of the jobs listed below should read the current issue of employment news for more details.

Delhi Technological University requires Professors and Associate Professors.

Indira Gandhi National Tribal University, Amarkantak (MP) requires Professors, Associate Professors and Assistant Professors.

Military Engineer Service, Pune invites application for various posts.

Public Service Commission, Uttar Pradesh invites applications for various posts.

Reserve Bank of India, Chandigarh requires Maintenance Attendant in Class IV cadre.

Kolkata Port Trust requires Commander, D&D Service, 2nd Officer, D&D Service and Chief Engineer Class I Vessel.

Employees State Insurance Corporation, Guwahati requires Multi Tasking Staff and Upper Division Clerks.

Department of Posts, India requires Postal Assistants and Postmen.

Ordnance Service Corps Records (AT), Bangalore, requires Lower Division Clerk and Peon.

Headquarters Southern Naval Command, Kochi requires LDCs, Stenographers Grade-III, Telephone Operators Grade-II, MT Fitter, Chargeman, Photo Printer etc.

Indian Coast Guard invites applications for the post of Navik (GD/DB)-02/2012 Batch.
Job highlights of  employment news 24 December 2011 to 30th December 2011 listed above. If you interested to apply for any of the abovementioned government jobs, please read the employment news for more details such as experience and mode application etc.

Government Jobs in Employment News 24 Dec 2011


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Government Jobs in Employment News 17 Dec 2011
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Friday, 23 December 2011

Muthoot finance NCD offer double money in 5.5 years

Muthoot finance ltd issues Non Convertible Debentures which double your money in 66 months, a guaranteed 100% growth in 5.5 years. The issue of NCD opened in the market on 22nd December, 2011 and the issue closes on 07thJanuary, 2012. This time, Muthoot finance, the largest gold loan providers in India issues their second issue of NCD.

Face value and Minimum investment: The face value of one unit of Muthoot Finance NCD is Rs. 1000 and theminimum required investment is Rs. 5000 and the multiples of Rs. 1000 (1 unit) afterwards.

Maturity and rate of interest: on maturity basis the Muthoot Finance NCD can divide into four options. Those are 24 months, 36 months, 60 months and 66 months NCDs. The rate of interest is 13% p.a for 24 months NCD, 13.25% p.a for 36 months and 60 months NCD and 13.43% p.a for 66 months NCD which offer 100% accumulated interest in 66 months. The interest rate is same for all investors such as institutional investors, Non institutional investors and retail investors.

Interest payment: Annual interest payment for 24 months, 36 months and 60 months NCDs and for 66 monthsMuthoot Finance NCD, the interest payment is only at the maturity, which gives compound interest and this will give double amount as maturity.

 

Maturity value or redemption amount: The Muthoot finance NCD offer face value as maturity value for all annual interest payment option and double amount (Rs. 2000 for NCD of Rs. 1000) for compound interest option which is 66 months NCD.

Issue details: Issue size is Rs. 3000 million and credit rating by CRISIL & CARE.

Lead Managers are ICICI Securities Ltd, A.K Capital Services Ltd, HDFC Bank Ltd, Karvy Investor Services Ltd and Co-Lead Managers are RR Investors Capital Services Limited, SMC Capitals Ltd for Muthoot Finance NCD.

Bankers to Issue the Muthoot Finance NCD are HDFC Bank, IDBI Bank, ICICI Bank, IndusInd Bank, Axis Bank,Dhanlakshmi Bank

Listing in Stock Exchange: The Muthoot Finance NCD will list in NSE and can trade like any other NCDs.

Muthoot finance NCD is attractive with its high interest and the high-profile of the institution.

Muthoot finance NCD offer to double money in 5.5 years


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Muthoot Finance Non Convertible Debentures


 

Thursday, 22 December 2011

Christmas Greetings to all our readers and visitors

Glory to God in the highest and peace to his people on earth. Christmas is the time to spread the message of love, harmony and peace. It is a time to get showered with gifts and wishes, but in the midst of all the commercialism, Let us not forget the real spirit of the Christmas. We can fill our heart with love and peace. Let us spread the real love of Infant Jesus who taken birth as human being and dwell among us.  



 We investmentsandmoney.com wish a Merry Christmas to all our readers and investors. Let the Infant Jesus shower his blessing upon all of us.

"The angel of the Lord appeared to them and the glory of the Lord shone around them, and they were struck with great fear. The angel said to them, "Do not be afraid; for behold, I proclaim to you good news of great joy that will be for all the people. For today in the city of David a savior has been born for you who is Messiah and Lord. And this will be a sign for you: you will find an infant wrapped in swaddling clothes and lying in a manger." And suddenly there was a multitude of the heavenly host with the angel, praising God and saying: "Glory to God in the highest and on earth peace to those on whom his favor rests." 

 Christmas greetings

New REC infrastructure bond offer 8.95% & 9.15%

REC issues new Infrastructure bond suitable for Income Tax Exemption under section 80CCF with 8.95% & 9.15% annual interest for 10 & 15 years maturity. REC (Rural Electrification Corporation, a Navaratna company offer this bond as non convertible long-term infrastructure bond. Like all other approved infrastructure bond an investment in REC infrastructure bond also get tax exemption under section 80CCF of income tax rule up to Rs. 20000 in addition to Rs, 100000 under section 80C.

Date of issue and closing date: The issue opened in the market on 19th December, 2011 and closing date is 10thFebruary, 2011.

Face value & minimum investment: Face value of one bond is Rs. 5000 and the least required investment is one bond for Rs. 5000 only. There is no maximum limit of investment for this REC infrastructure bond.

Maturity and buyback option: According to maturity period the bonds are two types such as 10 years and 15 years bond. But you can choose buy back option after 5 years (16th February, 2017) and 7 years (16th February, 2019) for 10 years and 15 years bond.

Rate of interest and interest payment: Rate of interest of REC infrastructure bond is 8.95% and 9.15% respectively for 10 years and 15 years bond. You can choose annual interest payment option or compound interest payment option for both 10 years and 15 years bond.

Maturity value and buy back value: The maturity value of 10 years compound interest option will Rs. 11783 and for 15 years bond will Rs.18592.  For 10 years compound interest bond can get Rs. 7677 on buy back option on 5 years + 1 day and for 15 years compound interest option can get Rs. 9231 on buy back option on 7 years +1 day. But for annual interest payment option the maturity value and buy back value will Rs. 5000 for all cases.

Lock in period: Lock in period of REC infrastructure bond is 5 years and after 5 years the bond proposed to list in BSE /NSE and can trade like any other listed bonds, if allotted in demat mode. Bonds can apply for physical mode also.

Who can invest: REC infrastructure bond is for Resident Indian Individuals (Major) and HUF through Karta of the HUF by both demat mode and physical mode.

How to invest: You can download REC infrastructure bond application form and can give in HDFC Bank, Indusind Bank orKotak Mahindra Bank

This is time of tax saving investments and we hope that this infrastructure bond by also accept by investors for saving their tax under section 80CCF.

REC infrastructure bond offer 8.95% & 9.15% interest


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New IFCI Infrastructure bond with 9.09% & 9.16%

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Wednesday, 21 December 2011

Invest in Government of India small saving schemes

Government of India small saving schemes helps to promote saving habit of people a lot. You can invest in these small saving schemes which are available from post offices all over India. Recently most of the small savings schemes renewed with more interest and more friendly terms. Government of India small saving schemes are safe and secure investments and it offer a good guaranteed return.

Government of India small saving schemes are suitable for investors those who are not ready to bear risk with their savings. A few of them are suitable for tax saving investments also. There is a post office in all cities, towns and villages in India. So these schemes are available to all people in India including villagers. List of such small saving schemes with brief details are given below:-

Post office Savings Account: Post office Savings Accounts or POSA is same as savings account in banks. At present Post office savings account offer 4% interest (earlier it was 3.5%). There is no maximum limit for the deposit in POSA. Interest of this account is not taxable up to Rs. 3500 (7000 for joint account)

Post office recurring deposit: PORD is a 5 years recurring deposit with smallest monthly investment of Rs. 10 gives Rs. 738.62 on maturity. 8% interest per annum (old rate 7.5%). No maximum limit.

Post office time deposit: POTD is just like fixed deposit in banks and in post office it allows 4 types of time deposits according to the maturity date of deposit (1 year, 2 years, 3 years and 5 years). Tax exemption under section 80C which allows exemption of Rs. 100000 is applicable for post office time deposit.

(a)  One year time deposit gives 7.7% interest (Old rate 6.25%)

(b)  Two years time deposit offer interest of 7.8% per year (Old rate 6.5%)

(c)  Three years time deposit offer 8% interest per year (Old rate 7.25%)

(d) Four years time deposit offer 8.3% interest per year (Old rate 7.5%)

5 year National Savings certificate: Now NSC (VIII issue) offer interest rate of 8.4% (Old rate 8.2%) for 5 years (Old 6 years). No maximum limit. Tax exemption under section 80C is available for NSC.

Senior citizen saving scheme: Interest 9% per annum, Tax exemption under section 80C up to Rs. 100000. Maximum investment is Rs. 1500000. Maturity is 5 years.

Public Provident Fund: PPF is for 15 years with interest rate is 8.6% per annum (old rate is 8%). Maximum deposit in a year is Rs. 100000 (Rs. 70000 earlier). Interest is not taxable and investment exempted under section 80C.

10 year National Saving Certificate: NSC (IX issue): Newly introduced scheme with 8.7% interest per annum. No maximum limit. Maturity is 10 years. Income tax exemption under section 80C is available.

All the above mentioned schemes are government of India’s small saving investment schemes and can invest through 155000 post offices all over India.  PPF account and Senior citizen saving scheme can also be operated from selected branches of 25 major banks. Interest of all the schemes except PPF is taxable and no TDS will deduct at source. If you interested to invest any of the small saving schemes may contact nearest post office or bank or small saving agents.

Courtesy: Advertisement of National Savings Institute

Government of India small saving schemes


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Tuesday, 20 December 2011

Government Jobs in Employment News 17 Dec 2011

Government jobs listed in Employment News 17 DECEMBER 2011 - 23 DECEMBER 2011. Employment news is a weekly which advertise important government jobs every week. Following is the job highlights of employment news 17 DECEMBER 2011 - 23 DECEMBER 2011. If you interest to apply for any of these jobs, we strongly recommend reading the weekly for more details.

Container Corporation of India Limited, New Delhi requires Sr. Assistant (Technical), Assistant Supervisor (Civil) and Stenographer Grade-I.

Dayal Singh Collage, New Delhi requires Assistant Professors/Lecturers.

Raja Ramanna Centre for Advanced Technology, Indore requires Scientific Officers/C. Technical Officer/C and Scientific Assistant/B.

Bhabha Atomic Research Centre requires Technical Officers (E), Medical Officer, Technical Officers (C) and Station Officer (A).

North Eastern Railway requires Medical Practitioner (CMP) Specialist/Doctors.

Security Paper Mill, Hoshangabad requires Jr. Data Entry Operators-cum-Office Assistants and Workman.

Jharkhand Public Service Commission, Ranchi requires Professors.

Central Public Works Department, New Delhi invites applications for recruitment of Group ‘C’ and Group ‘D’ posts.

New Mangalore Port Trust requires Pilot, JE Gr. ‘I’, Driver, Sarang Gr. ‘II’, Fireman etc.

Small Arms Factory, Kanpur invites applications for Group ‘C’ posts.

Vehicle Factory, Jabalpur invites applications for recruitment of Group ‘C’ posts of Semi-Skilled Grade.

Ordnance Equipment Factory, Kanpur requires Durwans.

Indian Navy invites applications from unmarried Male candidates for enrolment as Sailors for Artificer Apprentice (AA)-132 Batch.

The abovementioned government job highlights are the list of important jobs of employment news 17 DECEMBER 2011 - 23 DECEMBER 2011. If you wish to apply any of these jobs, please refer the current employment news for more details including educational qualification, experience, pay scale, mode of application etc. 

Government Jobs in Employment News 17 Dec 2011


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Sunday, 18 December 2011

Free advertisements for your investment needs

Free advertisements or free classified advertisements help you a lot, when you want to advertise your investment related matters. Sometimes we want to place ads related with our investment. If you want to sell your real estate property or sell your house property, buy land or house property, rent out your property etc., needs advertisement.

You can advertise in news paper or online through internet etc. But there is a lot of free advertising websites allows you to advertise free of cost. These online free advertisement websites publish your advertisements among the people you need to publish your requirements.

Most such free advertising websites are social networking sites also. There are a lot of users in such websites and you get a good publicity. You can categories your ads to get more targeted visibility. You can add photo, phone number or other related details about your advertised matters.

These websites allow any type of ads including real estate related matters, business related ads, ads for buying and selling anything, services and even advertisements related to your websites also.

Ablewise classifieds is one of such popular website which allows you free advertisements for all your needs. It is a social net work site also. You can display you advertisements with enough details and photos in a particular city or all around the world. You can just sign up with Ablewise.com free classifieds free of cost with your email id and can post your advertisements at the same time. The website allows you to post 10 free classified advertisements of one user at a time. You can post more ads after deleting any of them or can post more with a nominal payment.

Free online advertising websites help you to save a lot of money in advertising not only for your investment needs but for your business needs and personal needs also. So use such websites and save a lot of money in advertising.

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Small savings help you to lead debt free life

Saturday, 17 December 2011

L&T infrastructure bond, face value 1000, interest 9%

New L&T infrastructure bond issued with a face value of Rs. 1000 for each bond and with 9% interest. This is the time of tax saving investments and an additional investment of Rs. 20000 in infrastructure bond allows additional tax exemption under section 80 CCF. Few infrastructure bonds are already introduced and closed this year. At present the new L&T infrastructure bond is open in the market till 24th December, 2011. L&T infrastructure Finance Company Limited opened the issue of new L& T infrastructure bond on 25th November, 2011.

Face value of Bond is Rs. 1000: The main difference of this infrastructure bond is the face value of one bond which is Rs. 1000 only. The face value all other infrastructure bond which gets income tax exemption under section 80 CCF is Rs. 5000.

Minimum investment: The minimum required investment in L&T is 5 bonds which cost Rs. 5000.

Date of issue and closing date: The issue of L&T Infra bond opened in the market on 25th November, 2011 and the issue closes on 24th December, 2011.

Date of maturity: The time period for this long-term L&T Infrastructure bond is 10 years with five years lock in period.  The company offer buyback facility at 5 years and 7 years of the allotment of the bond.

Rate of interest & Interest payment option: There are two options for the bond in consideration of interest payment, annual interest payment option and compound interest option. The rate of interest is 9% for both the option. Interest will credit in your bank account in time.

Who can invest: Resident Indian can invest in this new L&T infrastructure bond in single name or joint name ofmaximum three persons. HUF also can invest in the bond in the name HUF itself or in the name of Karta of the HUF. In case of joint application the interest will paid to first applicant only. The joint holding can be with the status of either or survivor(s).

Taxability of Infra bond: The investment of Rs. 20000 in L&T infrastructure bond exempted under section 80CCF of present income tax rule. But the interest receivable from the bond is taxable under the head “Income from other sources” at the year at which it receive.

TDS from interest: No TDS will deduct from interest, if the purchase of L&T infrastructure bond is in Demat mode. But if the purchase is in physical form TDS will deduct for the interest, only if it comes in TDS limit which is Rs. 2500 per year. If you choose annual interest payment, the limit will not reach for TDS for Rs. 20000 in the bond. But for cumulative option you can submit Form 15G or Form15H , if applicable.

Availability of loan: For the first 5 years you cannot pledge L&T infrastructure bond for a loan. But after 5 years (After lock in period) you can avail loan by pledging the infra bond.

How to apply for the bond: You can download application form from the website of L&T infra bond and the filled application form with cheque or demand draft in the name of L&T Infra Bonds 2011B” can submit to collection centers or agents.

Ratings of bond: L&T infrastructure bond assigned to credit rating as CARE AA+ by CARE & [ICRA] AA+ by ICRA.

Collecting bankers: You can submit application forms in the following collecting banks namely, Axis Bank, City Union Bank, HDFC Bank, ICICI Bank, IDBI Bank, State Bank of India.

Listing in stock exchange: After 5 years the bond may list in Bombay Stock Exchange and can trade just like other financial instruments.

L&T Infrastructure bond and IFCI infrastructure bond are the infrastructure bonds presently available in the market. But with the face value of Rs. 1000 the L&T infrastructure bond is convenient for investors.

L&T infrastructure bond


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Friday, 16 December 2011

Early salary to Kerala Government employees for Christmas

Kerala government employees will get salary, pay & allowances early for the month of December, 2011 due to Christmas. Pensioners also will get their pension early. This is as per government order (G.O (P) No. 593/11/Fin) issued on 13th December, 2011 by the Finance (Establishment) Department.

The order says that Government (Government of Kerala) pleased to release pay and allowances/Salaries of employees of the state Government including full-time and part-time contingent employees, work establishment staff and N.M.R workers of all Departments and employees of Aided Schools, Colleges and Polytechnics for the month of December 2011 will disburse from the Treasuries as per the following dates.

Salary will disburse on 22nd December, 2011 for Educational Institutions and Department of Administration of Justice coming under part A and B schedule under Article 75 (b) (i) of KFC Vol-1.

On 23rd December, 2011 for Remaining Departments coming under part A and B schedule under Article 75 (b) (i) of KFC Vol-1.

On 24th December, 2011 for Departments coming under part C schedule under Article 75 (b) (i) of KFC Vol-1.

Pension for the month of January, 2012 will disburse on 20the December, 2011 & 21st December, 2011 for State Service Pensioners, Family Pensioners and K.F.F Pensioners.

The bills which cannot be encashed on the abovementioned dates can encash on next dates.

 We welcome the move of Government of Kerala to disburse salary early for celebrating Christmas.

Early salary to Kerala Government employees


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Car insurance quotes - avail cheapest car insurance policy

You can reduce your car insurance cost up to a certain extent and can avail maximum benefit from the car insurance policy by comparing insurance quotes carefully.  You have to spend car insurance cost, if you have a car or decided to drive your own car. You have to insure your car against theft and accident. A car accident may damage the car, the driver, the co passengers or others those who are not travel with you. So car insurance is to compensate theft, damage of car in accident and compensate the person who met with accident. As per the rule of the land car insurance is mandatory. You cannot avoid it.

Compare car insurance quotes: There are a lot of car insurance companies, and car insurance policies to choose from. You have to get more benefit with low car insurance premium. So you should compare various car insurance quotes of various car insurance companies. Not only the amount of premium but also the benefit they offer.

Age of the driver: Age of the driver also consider by car insurance companies while considering the premium for car insurance. This is with the consideration that the young drivers get only a little experience and the premium will be more for them.

Driving experience: An experienced driver seldom met with accident and the premium of the car insurance for such a driver is very less comparatively with inexperienced drivers.

Driving history: Driving history of the driver also important while fixing the premium of car insurance. If there is any accident history for the driver, the car insurance companies will charge high premium than that of a safe driver. A reliable safe driver can cut the premium up to a certain extent. At the same time an accident prone driver could not get approval easily from most of the insurance companies.

Be aware about discount offer: Most car insurance company’s offer discount for new car insurance policies, but from the second year onwards the premium may substantially high. Be aware about such situation. Do not fall in the attractive first time premium offer. Ask about the second year and following year’s premium.

Avail non claim discount: You can avail non claim discount for the renewal of a car insurance policy and this non claim bonus can carry forward to your new car insurance policy also. So avail this discount as an award for your cautious safe driving.

Discount for safety fittings: Car insurance companies offer discount in premium for safety fittings such as safety belts, anti theft devices, air bags etc. Avail these discounts when you go for a car insurance policy and this discount will continue for the renewal of insurance premium also.

Discount for your new car: Some insurance companies offer discount for your second or third car, if you take insurance policy from the same company. Avail this discount.

Student & senior citizen discount: If you are a student or senior citizen or retired person you can avail discount for car insurance policy as per the terms and conditions of insurance company.

Free insurance: Some car companies or car dealers offer first year insurance premium free of cost. Avail this offer, because the insurance premium for the first year is the largest amount, so that they consider the full value of the car

History of claim settlement: Last but not least you must check the claim settlement policy and practice of the car insurance company. Are there any haphazard to settle the claim? It is difficult to run pole to pillar to settle a claim.

Keep all these in mind when you go for a car insurance policy. Get quote from various insurance companies and compare all car insurance quotes and take a final decision. Then you can save a lot in your car insurance premium and car insurance cost.

Car insurance quotes, cheapest car insurance policy


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Wednesday, 14 December 2011

CEA or Children Education Allowance FAQs summary

Department of Personnel and Training published FAQs (Frequently Asked Questions) to clear all your doubts about children education allowance. Children Education Allowance (CEA) is one of the benefits of government employees for compensating the education expenses of their children. As per 6th pay commission the employee get a substantial amount (Rs. 1000 per month per children for two eldest children of a government employee and increases by 25% for every 50% hike of D.A) as Children education allowance. But there are a lot of doubts and confusions about this CEA. The summary of those FAQs are given below:-

CEA for 3rd Child allowed or not: Normally CEA is only for two eldest children whether availed or not for them. However, (a) the Birth of second child is twins or multiple births or (b) the third child-birth is the result of the failure of sterilization operation, CEA can avail for them also. (OM No.12011/03/2008-Estt.(AL) dated 11.11.2008)

Which fees are reimbursable under CEA: School fees under the heads of tuition fee, admission fee, laboratory fee, special fee for any subject such as agriculture, electronics, music etc., fee for practical work under work experience programme, fee for any aid or appliances provided for student, library fee, games or sports fee, fee for extracurricular activities etc. are reimburse only if these fees directly charged from student by school.

Purchases of education related items: One set of uniform including all items prescribed by the school, a single pair of shoes, and cost of normal study materials etc are reimburse. Whatever is the amount of fee and study related items, only the reimbursable amount for a child is Rs. 1000 +25% for additional 50% of DA per month. (OM No.1211/03/2008-Estt.(AL) dated 2.9.2008)

CEA increase only 25% for every 50% DA hike:  CEA will automatically increase by 25% for every 50% hike of Dearness allowance. At present the CEA is Rs. 1250 per month which increased 25% from Rs. 1000 after 51% D.A announced with effect from 01st January, 2011. (OM No. 12011/03/ 2008-Estt.(AL) dated 2.9.2008 and O.M. No. 12011/01/2011-Estt.(Allowance) dated 4th May, 2011)

CEA can avail twice for same class: CEA can avail for a child failed in his class. It is not linked with the performance ofthe child. But if the child admitted in another school in the same class where he availed CEA last year, even after he passed out from the class in old school or in the mid-session also, CEA not allowed for him.

CEA could not avail fully in first quarter: Only up to 50% of CEA for a year can reimburse for the first quarter of an education year and the balance can avail in third or fourth quarter. The entire amount for the academic year cannot avail in the first quarter itself.

Age limit of Children for CEA: There is no minimum age limit prescribed for nursery children, but the minimum age limit for physically challenged children is 5 years and the maximum age limit for availing CEA is 20 years for normal children and 22 years for physically challenged children.

Recognised Educational Institution: CEA can avail only for studying in any recognized school or education institution by any approved authority such as State or central government, university, Union Territory Administration etc.

CEA for Children studying abroad: CEA can avail for the children of an employee of government of India; studying abroad and even if the employee is a foreign citizen also. But only in presentation of a certificate from the Indian mission abroad which states that the education institution recognized by the concerned authority of the country at which the student is studying.

We hope that this FAQ will clear all the queries related with Children Education allowance.

CEA, Children Education Allowance FAQs


Related Posts
More clarification, Children Education Allowance Scheme
List of Allowances increase 25% when D. A is 51%
Allowances Admissible to Central Government Employees.

Tuesday, 13 December 2011

Job list in Employment News 10 December 2011-16 Dec

Government jobs listed in employment news weekly and the employment news (10 December 2011 – 16 December 2011) also listed a lot of government job vacancies. It is easy to find a job from employment news. Following are the job list in the present issue of employment news. If you wish to apply any of these government jobs, we strongly recommend you to read the employment news issued on 10th December, 2011 for more details.

Union Public Service Commission invites applications for the posts of Deputy Director (Administration/Insurance/ Training etc.) and Deputy Director (Finance).

Navodya Vidyalaya Samiti, New Delhi invites applications for recruitment of Post Graduate Teachers for Jawahar NavodayaVidyalayas.

Rifles Factory, Ishapore requires Durwan and Fireman.

Air India Air Transport Service Limited requires Customer Agents, Sr. Ramp Service Agents, Ramp Service Agents and Security Agents.

412 Air Force Station, New Delhi invites applications for Group ‘C’ posts.

Indian Oil Corporation Limited, requires experienced Non-Executive Personnel.

NMDC Limited, Hyderabad invites applications for various posts.

Machine Tool Prototype Factory, Ambarnath invites applications for Group ‘C’ posts.

Pharmacopoeia Commission for India Medicine Ghaziabad invites applications for various posts.

Public Service Commission, Uttar Pradesh notifies Combined State Engineering Services Examination-2011.

KLE Krishi Vigyan Kendra requires Programme Coordinator, Assistants, Subject Matter Specialist etc.

MP Power Transmission Company Limited requires Deputy Directors and Executive Trainees.

The above mentioned job lists are the job highlights of employment news (10 December 2011 – 16 December 2011). If you interested in any of these government job vacancies, read the employment news weekly for the details such as qualification, experience, salary, mode of application etc.

Job list of Employment News 10 December 2011


Related posts

Government Jobs in Employment News 03 December 2011
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Find a job from Employment News 19 Nov 2011

Monday, 12 December 2011

New IFCI Infrastructure bond with 9.09% & 9.16%

IFCI (Industrial Finance Corporation of India) issued new infrastructure bond with 9.09 percent & 9.16 percent interest. The new infrastructure bond is its 4th series of bonds which gives the income tax benefit under section 80 CCF. (Section 80  CCF allows additional income tax exemption for Rs. 20000 other than Rs. 100000 under section 80C of income tax act). The date of issue of the bond is 30th November, 2011 and the closing date is 16th January, 2011. The IFCI infrastructure bond – series 4 is in 2 types as per the maturity period. These bonds are   for individual and HUF investors only.

Face value of Infrastructure bond: Face value of one single IDFC infrastructure bond is Rs. 5000 and theminimum required investment is also Rs. 5000 and multiples of Rs. 5000 thereafter for additional investment.

Maturity period & Date of Maturity: The maturity period of New IFCI infrastructure bond is 10 years and 15 years and the date of maturity is 15th December, 2022 & 15th December, 2027 respectively for 10 years and 15 years infrastructure bond. But in each case the lock in period is only 5 years from the date of allotment which is expected on 15th February, 2012.

Interest payment and rate of interest: The 10 years IFCI infrastructure bonds offer 9.09% interest and for 15 years the rate of interest is 9.16% per annum. Bonds of 10 years and 15 years are available in both cumulative option and annual interest payout option.

Buy Back Option: IFCI infrastructure bond offer buy back option also. The investor can redeem the bond on buy back period. The 10 years bond offer a buy back option at the end of 5th year and 7th year of allotment and the 15 years bond offer buy back option at the end of 5th year and 10th year of allotment. The buyback dates are 15th February, 2017 & 2019 for 10 years bond and 15th February, 2017 and 2022 for 15 years bond.

Listing & Mode of issue: The New IFCI infrastructure bond is in dematerialized form and physical form. Those who have a deamt account can buy the bond through deamt account and can sell it through your demat account. Bond will list in Bombay stock exchange and one can trade it after 5 years lock in period. The bond issued in physical form can sell only in physical form and can redeem at the maturity or buy back period.

Interest payment and Redemption: Payment of  interest and redemption is through ECS or post dated cheques or through demand drafts.

IFCI infrastructure bond offers more interest than the recently issued IDFC infrastructure bond which offers only 9% interest. We hope that people welcome this infrastructure bond wholeheartedly, because the last quarter of the financial is very near and an investment of Rs. 20000 in infrastructure bonds helps to save a tax of Rs. 2060 for 10% tax brackets, Rs. 4120 for 20% tax brackets and Rs. 6180 for 30% tax brackets in addition to interest of infrastructure bond.

New IFCI Infrastructure bond


Related post

Additional Rs. 20000 exemption under section 80CCF

New IDFC infrastructure bond with 9% interest

 

Sunday, 11 December 2011

Reliance life insurance protection plans for life cover

Reliance life insurance or Reliance life insurance Company Limited is one of the leading insurance companies in India. This insurance company is a part of Reliance Capital Limited. Reliance insurance gives four types of insurance policies. Those are (1) protection plans, (2) savings & investment plans, (3) child plans and (4) health plans. Out of these four categories the life insurance products come under protection plans listed below. These policies give the life cover insurance of the insured with many other advantages.

Reliance Life Insurance Money Multiplier Plan - Gives life insurance coverage and growth of your money.

Reliance Term Plan – a pure life insurance plan gives life cover with least amount of premium.

Reliance Simple Term Plan – cost-effective pure life insurance plan gives affordable life cover for term of the policy.

Reliance Special Term Plan - affordable pure life insurance which gives back the premium paid on maturity as per the terms and conditions of the policy.

Reliance Credit Guardian Plan - secure your family from loan taken by you, if you died before paying off the loan. Premium paid will get back at the maturity, if the insured is alive till maturity.

Reliance Special Credit Guardian Plan – This is also a loan protection plan.

Reliance Endowment Plan – an endowment plans gives sum assured plus bonus.

Reliance Super Five Plus - Life coverage extended for a specified time period even after get back the sum assured.

Reliance Connect 2 Life Plan – your life cover is upgradable as per the change of your life style.

Reliance Whole Life Plan – this insurance plan offers your life cover can extend to 99 years and high premium rebate is also available.

Reliance Cash Flow Plan offers life cover and a specified percentage of money back in periodical intervals.

Reliance life insurance plans


 

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Reliance Life Insurance Money Multiplier Plan

Life insurance plans for individuals by LIC of India

Friday, 9 December 2011

Pension payment to Government pensioners by banks

Reserve Bank of India monitors payment of pension to government pensioners by banks. RBI released Frequently asked questions and answers about the doubts of pensioners in the head of scheme of payment of pension to Government pensioners by authorized banks. The summary of the same is as follows:- 

1. A pensioner can draw pension through a bank: Any pensioner including a government employee can make option to draw pension from any authorized bank’s branch, even if he is drawing pension from a treasury or post office.

2. Pension sanctioning authority: In case of government servant, the office or department at which the employee last worked is the pension sanctioning authority.

3. Fixation of pension: first time of fixation of pension made by the pension sanctioning authority and in case of re-fixation of pay or any other changes, if any, made by the paying bank branch as per the instructions of the government.

4. Need of separate pension account in a bank: There is no need to open a separate pension account in a bank, if the pensioner already has a savings account or current account in the bank branch where the pensioner selected for crediting pension.

4. Possibility of Joint account: A pensioner can open joint account with spouse to credit the pension amount and it canoperate with “Former or survivor” or “either or survivor”.

5. Minimum balance for pension account: There is no specified rule by RBI about the minimum balance of pension account. Even though some banks allow zero balance in the bank account for pension.

6. Pension Payment Orders (PPOs): Pension paying authority in Ministries or Departments sends PPOs to the bank branch where the pensioner opted for crediting pension amount.

7. Time of pension payment credit: The credit of pension payment in the concerned bank account in any of the last four working day of every month. But in March the payment made only in first working day of April.

8. Shifting of pension payment account: A pensioner can transfer pension payment account to another branch of the same bank or to any other authorized bank.

9. Procedure for transfer of pension paying bank account: With present the photocopy of the old PPO the pensioner can avail pension up to 3 months and within this time period the new bank branch should get all necessary documents.

10. Identification for pension: The pensioner should present the paying bank for identification and the bank has to collect specimen signature or thumb/toe impression of the pensioner. If the pensioner handicapped / incapacitated and not able to present in the bank branch, the bank official should visit the residence or hospital for identification and collecting specimen signature or thumb/toe impression.

11. Retain half part of the PPO: The pensioner can keep the half part of the PPO for record and can update it in time to time from the pension paying branch, when there is any change or addition such as revision of basic pension or dearness relief happened.

13. Keeping records by paying branch: The pension paying branch is liable to keep detailed record of pension of the pensioner in prescribed format and make it authorized by the concerned officer.

14. Excess credit in pension account: The pension paying branch can keep the excess amount if of pension if any, credited in pensioners’ account by any reason from the pensioner or from the legal hires of the pensioner.

15. Certificates to present by the pensioner: The pensioner is liable to give Life certificate/ Non-Employment certificate or Employment certificate in the pension payment branch in November every year. If the pensioner is not in a place to present in the bank due to serious illness or incapacitation, bank official will visit the pensioner for the certifying the life certificate.

16. Operate pension account by power of attorney: A pension account cannot operate by the holder of a power of attorney, but the pensioner can avail cheque book facility and can give standing instructions to transfer money from the pension account.

17. TDS from pension account: The pension paying branch is liable to deduct income tax from pension account as per the existing income tax rule and liable to issue TDS certificate on April every year. The pensioner can give form 15H to avoid Tax deduction at source, if the pensioner is not liable to pay tax.

18. Pensioner Unable to sign due to sickness or handicapped: If a pensioner is sick or lost his hands or legs or both can put any mark or thumb/toe impression as per the case in the pension account opening format and cheque or withdrawalform with identification of two independent witnesses including one bank official. If such a pensioner is not able to visit the bank branch can send anybody with such a marked cheque with identification of two independent witnesses and with the specimen signature of the person who withdraw money.

19. Commencement of family pension:  After the death of the pensioner the person who indicated in the PPO can receive family pension by producing the death certificate of the pensioner and filled up application form.

20. Payment of Dearness Relief at revised rate:   The extra relief on pension and family pension will release by the bank immediately after getting necessary orders from the government. The bank can collect this information from concerned website or other official medias to issue revised dearness relief or any such revision without waiting for individual orders.  The pensioner also can collect information about any changes of pension from related websites.

21. Availability of pension slips: The pension paying branch has to issue pension slips to pensioners in specified format at the time of first pension payment and after that any change or revision in pension occurred.

23. Grievances of pension: The pensioner can approach the manager of the bank branch and then to the head office of the concerned bank and then the bank ombudsman for any unsolved complaint related with the service of bank. For any other pension related issues, the pensioner should approach the pension paying authority.

24. Compensation for delayed payment: The pensioner can get compensation for any delayed credit of pension amount or any arrears of pension with normal bank rate and an extra 2 %, and this amount may credit to the account automatically without any claim.

The above mentioned points are the summary of the Frequently asked questions of government pensioners those who get payment of pension through authorized banks and we hope that this will clear all the doubts of government pensioners about payment of pension through authorized banks.

source-www.rbi.org.in

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Pension, PF, Gratuity through e-payment

Wednesday, 7 December 2011

Life insurance plans for individuals by LIC of India

LIC of India or Life Insurance Corporation of India is the largest insurance company in India, owned by Government of India. LIC of India has a number of life insurance plans for individuals. These individual insurance plans are best insurance plans suitable for various stages of the life of a person.

LIC individual life insurance policies include endowment policies, term insurance policies, Children insurance plans, money back insurance plans and other insurance policies. LIC of India introduces each insurance policy with much care. List of LICof India’s insurance policies for individuals are follows:-

Individual Insurance plans of LIC of India.

Jeevan Arogya , Bima Account 1,Bima Account 2, Endowment Plus

LIC Insurance plans for children

Jeevan Anurag, Komal Jeevan, CDA Endowment Vesting At 21, Marriage Endowment or Educational Annuity Plan, CDA Endowment Vesting At 18, Jeevan Kishore, Jeevan Chhaya, Child Career Plan, Child Future Plan

LIC Insurance plans for handicapped Dependents

Jeevan Aadhar, Jeevan Vishwas

LIC Endowment Assurance plans

The Endowment Assurance Policy, The Endowment Assurance Policy-Limited Payment, Jeevan Mitra(Double Cover Endowment Plan),  Jeevan Mitra(Triple Cover Endowment Plan),  Jeevan Anand, New Janaraksha Plan, Jeevan Amrit

LIC Insurance plans for high worth people

Jeevan Shree-I, Jeevan Pramukh

LIC Money back insurance plans

The Money Back Policy-20 Years, The Money Back Policy-25 Years, Jeevan Surabhi-15 Years, Jeevan Surabhi-20 Years,Jeevan Surabhi-25 Years, Bima Bachat

LIC Special Money back insurance plans for women

Jeevan Bharati – I,

LIC Whole life insurance plans

The Whole Life Policy, The Whole Life Policy- Limited Payment, The Whole Life Policy- Single Premium, Jeevan Anand,Jeevan Tarang

LIC Term Assurance plans

Two Year Temporary Assurance Policy, the Convertible Term Assurance Policy, Anmol Jeevan-I, Amulya Jeevan-I

LIC Joint life insurance plans

Jeevan Saathi

The abovementioned life insurance policies are from Life Insurance Corporation of India suitable for various stages of life of an individual. Read more about the abovementioned life insurance policies.

Life insurance plans from LIC of India


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Tuesday, 6 December 2011

Government Jobs in Employment News 03 December 2011

Employment news (03rd December, 2011 to 09th December, 2011) listed government jobs and job vacancies.  Those who wish to get a good government job can find a job from employment news. The job highlights of Employment News (03rd December, 2011 to 09th December, 2011) listed below. Those who wish to apply from any of the government jobs listed below may read the employment news for more information.

Staff Selection Commission invites applications for recruitment of Constables (General Duty) in CPOs and Rifleman (General Duty) in Assam Rifles-2012.

Staff Selection Commission (Southern Region) requires Sepoy.

Syndicate Bank invites applications for recruitment of Agricultural Assistants in Clerical Cadre.

Vijaya Bank invites applications for recruitment of Specialist/Generalist Officers.

Uttranchal Gramin Bank requires Officer Scale-I and Office Assistants.

State Bank of India requires Consultants.

Indian Oil Corporation Limited requires Junior Engineering Assistants-IV in various disciplines.

Indian Space Research Organisation requires Assistants and Junior Personal Assistant.

Indo Tibetan Border Police Force invites applications for the posts of Assistant Sub-Inspector (Pharmacist), Assistant Sub Inspectors (Laboratory Technician) and Head Constables (Midwife).

Hindustan Aeronautics Limited, Kanpur requires Technician Trainees and Diploma Trainees.

Central Institute of Fisheries Technology, Willingdon Island, Matsyapuri requires T-3 (Technical Assistant).

Indian Railway Catering and Tourism Corporation Limited, New Delhi requires Assistant Plant Managers, Assistant Managers, Micro-Biologists, Assistant Supervisors and Supervisor Quality Control.

The abovementioned job lists are advertised in employment news (03rd December, 2011 to 09th December, 2011). If you wish to apply for any of these government jobs, we strongly recommend you to read the current issue of employment news weekly for more details such as pay scale, mode of application, qualification etc.

Employment news (03rd December, 2011 to 09th December, 2011) 


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Government Jobs in Employment News 26 November 2011
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Government Jobs in Employment News 12 Nov 2011

Monday, 5 December 2011

High Income short-term deposit with high liquidity

Banks now offer a very lavish interest rate for savings account & short-term deposit with high flexibility and high liquidity. Today I have noticed a few advertisements from two leading banks which offer a flexible term deposit with high interest rate. Those deposit schemes listed below: And I am looking for more such safe short-term high return term deposit which will add here later.

KVB Flexi Term deposit


Kayur Vysya Bank Flexi Term deposit is a good high return short-term flexible deposit. The interest rate offered by the bank is 9% per annum. If you withdraw money (the deposit amount) any time after 15 days of opening this term deposit, there is no penal interest or penalty. You will get an interest rate of 9% per annum. You can withdraw earlier also with 1% penal interest from 7th day to 14th day of deposit. For the withdrawal before 7th day will not get any interest. The real tenure of the deposit is 300 days. But the least amount for this short-term flexi term deposit is Rs. 15 lakh and multiples of Rs. 10000 afterwards.

SBI unfixed deposit 

State bank of India also come with a short-term high liquidity deposit with 8.5% interest per annum. You can withdraw money any day form 7th day of deposit without any penalty. You will get an interest of 8.5% per annum. If you withdraw money before 7 days there is no any interest payable. But the least amount of deposit is Rs. 1 crore.

These bank deposits are suitable for those who earmarked money for any special short-term needs and can withdraw money when you need it  and at the same time you can avail a good rate of interest. For individuals, companies, Institutions, firms, trusts, associations, societies etc., this is a good investment scheme.

High Income short-term deposit with high liquidity

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Sunday, 4 December 2011

GPF (General Provident Fund) interest rate hike

There is a demand to increase the interest rate of General Provident Fund (GPF). The Government of India recently decided to increase the interest rate of small saving schemes such as PPF (Public Provident Fund), NSC (National Savings Certificate) etc. The rate of interest of EPF (Employees Provident Fund) is also higher than the interest rate of GPF.  In such situation government employees also expect a hike in their interest rate.

The interest rate of PPF (Public Provident Fund) rose from 8% to 8.6% and the interest rate of NSC rose from 8% to 8.4%. New Ten years NSC also gets 8.7% interest. Employees Provident Fund (EPF) also got 9.5% interest in the financial year 2010-2011.

Government employees invest a part of their salary in their GPF account for the use of their retirement fund. There is a demand to increase the GPF interest rate and make it par with EPF (Employees Provident Fund) from various associations and leaders.

We hope that the government will take a favorable decision in this matter and increase the interest rate of General Provident Fund as soon as possible.

Courtesy: Economic Times

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GPF (General Provident Fund) interest rate hike


 

Saturday, 3 December 2011

Reliance Life Insurance Money Multiplier Plan

Reliance Life Insurance Money Multiplier Plan is an endowment plan from Reliance life insurance. It is a non linked non participating endowment plan which provides financial protection to the family of the insured while the death of insured happened within the policy term and allows growing your money to satisfy your financial goals. It gives long-term life coverage and growth of your money through guaranteed annual loyalty addition and guaranteed maturity addition.

Benefits of the Reliance life plan


Reliance life insurance money multiplier plan gives both long-term life coverage and growth of your money through

(1) Double life cover which provides two times of the basic sum assured as life cover to the nominee of the insured while the death of the insured occurred during the policy term.

(2) Annually increasing life cover allows the life cover increases through guaranteed loyalty addition and

(3) Three times survival benefit on maturity which includes the basic sum assured, accrued guaranteed loyalty addition and guaranteed maturity addition which considered as the maturity benefit of Reliance life insurance money multiplier plan.

Tax exemption: The annual premium  exempted from income tax under section 80C of the present income tax rule which gives a total exemption of Rs. 100000/-

Minimum & maximum sum assured: The minimum sum assured is Rs. 50000 and there is not maximum limit for sum assured.

Term of the policy: The Reliance life insurance money multiplier plan is available for 10 years, 15 years and 20 years term.

Premium payment term: The premium payment term of the reliance life insurance plan is same as the term of the policy, which means you have to pay premium for 15 years for a policy of 15 years.

Minimum and maximum age: The minimum age of entry is 18 years and maximum age of entry is 65 years for the reliance life plan. The minimum maturity year is 28 years and the maximum maturity year is 75 years.

Premium payment mode: The premium payment mode of the reliance life insurance money multiplier plan is annually,half-yearly, quarterly and monthly. There is no single premium payment is for this reliance life policy. Quarterly and Monthly premium payment mode is through ECS payment.

Riders for Reliance life insurance money multiplier plan: The following riders are available for the reliance life insurance plan: (1) Reliance New Critical Conditions (25) Rider, (2) Reliance New Critical Conditions(25) Rider Premium Rates, (3) Reliance New Major Surgical Benefit Rider, (4) Reliance New Major Surgical Benefit Rider Premium Rates, (5) Reliance Term Life Insurance Benefit Rider, (6) Reliance Term Life Insurance Benefit Rider Premium Rates, (7) Reliance Accidental Death & Total And Permanent Disablement Rider, (8) Premium rate for Reliance Accidental Death and Total and Permanent Disablement Rider, (9) Reliance Life Insurance Family Income Benefit Rider, (10) Reliance Life Insurance Family Income Benefit Rider Premium rates

Premium Amount: Following table shows the premium payment for a basic sum assured of Rs. 100000 for different age of entry for the policy terms of 10 years 15 years and 20 years.


























































Age



10 Yrs



20 yrs



30 yrs



18



14640



11740



10465



20



14650



11745



10480



25



14665



11775



10520



30



14700



11830



10600



40



15010



12220



11075



50



15970



13320



12355



60



18315



16155



65



20970



You can avail loan against the policy as per the rules and regulations of the Reliance life insurance. If you wish to join the policy we strongly recommend reading more about the policy from the official website of reliance life insurance Company.

Reliance Life Insurance Money Multiplier Plan


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Friday, 2 December 2011

Increase your retirement savings as your income grows

Retirement saving is an important thing while you earn money as salary or profit from business etc. You can invest a certain percentage of your income every month in any good investment scheme for your retirement need. Your salary will increase every time or your business will grow and you get more money as profit. When you get more money you should invest more for your retirement plan also. You can set apart your saving as any of the following two methods.

1. Stick around the percentage of regular saving.

You can invest a certain percentage every time you get money. If you do so when your salary or income increase the amount of saving also will increase. For example, if you have a salary of Rs. 30000 and you saving Rs. 4500 (15%) for your retirement plan. When your salary increases to Rs. 34000 the amount of saving also will increase to Rs. 5100 (15%) while the percentage of saving remains the same.

2. Increase the amount of saving.

This is another method you can increase your retirement saving while you get more income.  Make an extra saving of the half of the increased amount every month. In the abovementioned example you were saving Rs. 4500 every month and when your salary increased by Rs. 4000 makes an extra investment of 50% of the increased amount. Here Rs. 2000 and then the total investment will Rs. 6500 instead of Rs. 5100 in the above mentioned example.

No doubt when you get more income the cost of living also may increase due to inflation or high standard of living. But you should invest the amount as per your decision for your happy retirement life.  Sometimes you may not save 15% of your income, but it is only an example and you may keep 10% or 20% or a convenient percentage, but do regular saving and increase the amount when your income increase.

For salaried people, the Provident Fund which is considering as a retirement saving automatically increase when the salary increase. For others those who are not getting salary income should keep investing for their retirement. If so they can enjoy a happy retirement life with enough income at the time of their retirement life.

Retirement Saving


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Thursday, 1 December 2011

AICPIN for the month of October, 2011 is 198

All India Consumer Price Index (AICPIN) for the month of October, 2011 is 198 (Based on 2001=100). Ministry of Labour & employment published the AICPIN for the month of October, 2011. This is one point more than the AICPIN for the month of September, 2011 which was 197. The hike is only 1 point and it is only a nominal hike when compare to August and September. On September 2011 there was a steep hike of 3 points from the AICPIN of August, 2011.

The increase of AICPIN due to the difference in the price of necessary items such as wheat, edible oil, rise, vegetable, firewood, kerosene, clothing and similar items. When considering Consumer price index numbers of various centers the maximum hike of 8 points recorded in Darjeeling centre and the maximum decrease of 3 points recorded in Mysore centre.

The indices of the six major centers are as follows: in the order of October, September, August and July 2011.

Centre                              Oct    -   Sept   -   Aug    -   July

1. Ahmadabad       -        195   -   193     -    191    -    188

2. Bangalore          -        198   -   197     -    194   -    194

3. Chennai              -        178   -   175     -     172   -    168

4. Delhi                    -        184   -   182    -    178    -    178

5. Kolkata               -        191    -   193    -    192    -    186

6. Mumbai              -        201   -   199    -    195    -    194

This time also Mumbai shows the highest consumer price index number of 201 which is higher than the AIPCIN. The Index number of Bangalore is same as the AICPIN and Chennai is the least consumer price index number when compare with the abovementioned major centers. But in Kolkata it is lesser than the previous month.

As we posted before the D.A of Center Government employees are correlated with AICPIN of industrial workers. The next Dearness allowance, Expected D.A on January 2011 can accurately calculate after publishing the AICPIN for the month of November and December.  

See the calculation of D.A


AICPIN for the month of October, 2011 is 198


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AICPIN for the month of September, 2011 is 197
AICPIN for the month of August, 2011
AICPIN for the month of July, 2011