Saturday, 26 January 2013

Interest on Fixed deposits Increased by Canara Bank

Canara Bank, one of the leading nationalized banks decided to raise the interest on fixed deposits by 1%.  This is applied for some selected fixed deposit schemes only. 

The rate of interest on fixed deposits with a maturity between 1 Interest on Fixed Deposityears to 2 years  and between 3 to 5 years increased to 9.05%.

Interest rate on fixed deposits with 270 days increased to 9% from 8%.

The Interest rate of 5 years to 10 years fixed deposit also has been raised to 9.05%.

But the interest rate of the fixed deposits of 180 days to 269 days decreased by 0.5% and the present rate is 8 percent against the earlier rate of 7.5%

Through the decision to increase the interest rate of fixed deposits, Canara Bank has taken a great decision which is beneficial to long term investors. But for short term investors the rate of interest has been coming down by 0.5% which shows that the bank discourages short term investment and wish to encourage long term fixed deposits.

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Saturday, 19 January 2013

Do You Need Life Insurance Agent?

Have you ever thought that do you need life insurance agent. A life insurance agent is a committed fellow who encourages and listens to the needs and wants of a person who is ready to buy a life insurance policy. It doesn't concern what kind of life insurance you are looking for, whole life insurance  policy or term life insurance policy. An insurance agent is able to select a competent rate for you. At the time you reach a life insurance agent, you can easily select the life insurance you are looking for from a reputed life insurance company  even from a nearby city or state. This life insurance product you might not hear about or you are very familiar with it. There are a variety of benefits when you deal with a life insurance agent while you purchase a life insurance policy.

Do You Need Life Insurance Agent

The agent  is able to understand the requirements of various insurance companies do you need life insurance agentand knows which ones offer the best rates on life insurance. He is not charging extra money to give the consultancy service he offers you to choose a good life insurance policy as per your needs.


When you get in touch with a life insurance agent, he/she is ready to hear you and help you to decide your needs. He can help you to decide what type of policy you require. The expert agent is capable to determine your families need, if any untimely death of you  happened. He can also determine which type of policy you need, whether it is whole life insurance or term life insurance policy. When you could identify your need he will look for a suitable but a beneficial insurance company and insurance policy which offer a best rate for you.

The agent then contacts the selected life insurance companies and acquire insurance quotes and application forms as per your requirements. You can choose the best suited one for you as per your needs and benefits. Your life insurance agent can guide you here also, to choose the best quote and he let you to take the final decision. Once decided he will do all necessary documentations to make the policy alive.  A life insurance agent gets a commission from the insurance company for the business he has done and you are not supposed to pay him.

How to choose a life insurance agent?

You can choose one from your friends, relatives or contacts or can search online for a good life insurance agent. It is better to go through a life insurance agent than contact a number if the insurance companies yourself. A life insurance agent is an experienced person and also able to help you from his experience. But before taking a final decision you must evaluate everything and fill the application form yourself or check carefully the filled application form. You must not hide anything which the insurance company asks you to reveal through the application form. Give all true information and it will be beneficial for you while making any settlement.

So a life insurance agent is helpful to you to choose and join in a suitable life insurance policy.

Why do you need life insurance agent


Friday, 18 January 2013

3 Tips to Maintaining Your Nest Egg and Sanity

Investing money can often times be a very stressful and confusing process, especially if you are lacking experience in investment and are not quite sure exactly where to begin. It’s a process that requires a bit of learning and there are many aids floating around on the internet to help ease the transition of investing your hard-earned money. These three tips are definite ways that assist you in protecting and growing your savings without losing your mind:

1. Divide Your Savings and Your Portfolio

You don’t want to lump all your savings together. After all, you probably have some expenses coming up in the next few years that you’ll need some savings for. On the other hand, you probably have some money that you hope you won’t need for close to a decade.

[caption id="" align="alignright" width="240"]investing Image via Flickr by Images of Money[/caption]

Instead, you should put the money needed for expenses for the next five years in a short-term savings plan, and invest the rest in a balanced portfolio.

So how do you decide on a balanced portfolio? It depends on your personality, your goals, and how much risk you are comfortable with. It’s important to be able to differentiate your personal attributes and circumstances from the cookie-cutter directions that you may find on in internet investment forums. Other factors such as current income, age, and stage of life can make a difference as well. There are many different investment portfolios to choose from. For example, these three portfolios look very different but are all examples of a wise investment.

2. Watch Out for Frauds

Fraudulent investment schemes are usually rare but can devastate your savings. Books like How to Smell a Rat and The Only Three Questions That Still Count, the New York Times best seller by Ken Fisher, offer some great advice on investing and how to avoid the dishonest money manager. Red flags include an advisor who has control of assets (as in, they tell you where to send the money and write the check for you), and an investing strategy that is “too complicated” to be explained. Honest advisors will clearly lay out their investing strategy for you. There should be nothing murky about it.

3. Pay Off Debt

The one way you can always get a great return on your investment is by paying off debt. Interest from an auto loan or a mortgage takes money away from you without offering anything in return. In some cases, it would be wiser to pay off old debt than to invest in a new portfolio because the debt’s interest rate is higher than the investment would be. A great example of this is college or graduate school debt, which can have interest over 10 percent, and credit cards, which regularly have rates over 15 percent.

By dividing your savings, recognizing scams, and paying off old debt first, you can learn to invest with plenty of security and peace of mind.

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Monday, 14 January 2013

Keep Your Investments are Safe Investments

Invest money safely is a dream for all investors. But how? All investments are risky in one way or another. But one can control the level of investment risk. Some investments are just like a gamble and  some others are almost safe investments. Stock trading , Forex Trading etc., can be included in high risk investments.

Normally bank deposits and government securities are considered safe investments. Mutual funds other related securities can be termed as a medium risk investment and shares and Forex are high risk investments.

Safe Investments

An investor must keep in mind the following points while investing his hard earned money.

First he must decide that how much risk he can take for the desired investment. There are a lot of things he must consider. What  financial goals he has to satisfy with this investment. Is it a short term goal or a long term financial goal. How much money he needs keep your investments are safe investmentsfor this goal. How much money he has right now for the goal. He must consider all these facts and take a proper decision to keep his investments are safe investments.

Identify some possible investment opportunities and the risk factor in it. While identifying these investment avenues he must choose the most suitable investment method also. When you compare investment methods he must keep in mind his need also. Take a best suitable decision and invest in them.

Do not choose only one single investment method. Invest in a variety of investment schemes. If one fails the others will give you enough profit to satisfy the failure and so you can make safe investments.

Do not  invest in long term investment opportunities for short term goals. IF so you could not satisfy your need successfully with the investment.

Fix a risk hierarchy of investments, just like a bank savings account, bank fixed deposits, Fixed maturity plans, Gold ETF, equity mutual funds, shares and Forex. If you could fix the hierarchy successfully, you can survive in the field of investment and your investment will be safe for ever.

Please keep in mind that I didn’t mean high risk investments are not safe investments.High risk investments can offer high profit or high growth. But when you have enough gap between your investments and the financial goal you have to satisfy with it, those high risk investments also can consider safe investments. If there is enough time, one can make a good benefit from high risk investments also. So keep a safe distance between you investments and investment goals. That is enough.

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Sunday, 13 January 2013

Trade the Virtual shares of your web site with Ranktrader

Ranktrader is a website with a difference. It is an interesting website which can be dealt with as a fun game, but at the same time it acts as a serious SEO website. The website accepts membership only through invitation.  A webmaster can be a member of this website by filling an invitation request or being invited by other  members.

After joining the website you can list your website and can exchange Virtual shares (V Shares) of your  website. You can issue IPOs of Ranktrader trades shares of a websiteyour website and others can buy it with a price. All dealings are through virtual money which is freely issued by the website. But remember that the physical ownership of your website is not transferred or shared with anybody else. That is why the action can be termed as a fun game.

Even if the physical ownership of shares are not transferred, the popularity of a website can be measured by the exchange and exchange rate of shares of a particular website. The website is in its beta stage.

One can list their website by adding them to the site. After verification and approval, the site will be listed on the Ranktrader website. A webmaster can issue IPOs (Initial Public Offerings)  of his website. When the popularity of the website increases the rate of shares also will be increased. One can easily understand the popularity of a particular website by viewing its position in the market place. You can remove your website whenever you wish to do so.

The Ranktrader website owners claim that it is in the beta test period and now they allow free entries through invitation by the members or by filling the invitation request form by the webmasters themselves. I am not sure, whether they will charge fees for membership or start trading of shares with real money after the beta stage. Anyway let us wait and see what would be the next step of this new trend in the internet.


Friday, 11 January 2013

Simple Ways to Clear Off Your Debts

Are you struck in the vicious circle of debt trap? Are you piled with huge chunk of debts? Are you looking for ways to clear off your debt? Here are the answers to come out of debt trap and to free yourself from the debt circle. Everybody in this world is a victim of debt at least once in their lifetime. Few people clear their debts in easy way and few suffer a lot to pay their debts. The success lies in proper planning. Financial gurus are suggesting ways to clear your debts easily without much trouble. Debts can bring misery, pain, stress and worry, if you don’t clear debts on time. Financial experts compare
debt with quicksand which is easy to stumble and hard to come out. In reality the more you struggle to come out of debt trap, the faster you start to sink. However, here are a few ways to help you break-free from your debts:

List out the current debts:  Before going to fix your debt problem, you need to understand the real situation by listing out the current debts and analysing them. You need to know the debt amount currently you are holding, the type of debt you have whether a mortgage, credit card or loan. You should also list out your value assets such as investments, savings, cars and homes. Then you can easily find a way to clear off your debt.

Work out on a debt-free strategy: Draw a simple plan to clear off your debts and find ways to pay debts. But the plan you design depends on your debt situation. It is based on saving stamina, spending ability and clearing capacity.

Pay off smallest debts first: It is the simplest ways to clear your debts. First settle your small debts which may add more interest in the future rather than clearing bigger debts which are manageable.

Consolidate your debts: You can ask your banker to combine all your debts to make your clearing process easy. Some bankers may deduct your loan interest; you are paying the other loans on time. So make sure that you are paying monthly interest on time to increase loyalty from your banker. To meet your urgent financial needs, you can apply for payday loans which are easy and instant.

Minimize your expenses:  Cut short all your unnecessary expenses to save extra money to clear the debts. Small modifications in your lifestyle for at least one year may show larger results in the form of savings.

Use credit cards: Never close your credit cards. Better you don’t use them for few days until you clear your debts.

The above are a few simple ways to clear the debts. Avoid taking loans or debts as this may lead you into a viscous cycle that is never ending.

Author Bio:

I am Jessica Williams from USA. I'm into Finance who had experience in writing quality guest posts. Catch me @financeport

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Friday, 4 January 2013

Credit Life Insurance Policy Protects Loan

Have you ever thought the after effect of a person die before settle his loan amount? Normally the bank or the loan provider will attach the asset which is mortgaged for the loan. IF there is any personal security the surety should pay off the loan. But if there is credit life insurance policy attached to the loan, the insurance company will deposit the outstanding loan amount and settle the loan.

What is credit life insurance. Credit life insurance policy is for
Credit Life Insurancepaying off the outstanding loan amount, if the borrower died before paying off all the loans. The policy amount will be decreased proportionately with the balance of the principal amount. When  the loan amount
reaches zero the policy amount also will reach zero.

Credit life insurance

Credit life insurance protects the dependents of the borrowers if the death of the borrower happens. The dependent will be saved from paying off the balance amount of loan.

Credit life insurance also protects the sureties, when the borrower  expired without paying off the loan. Then the sureties should not pay off the loan as it is paid off by the insurance company itself.

Credit life insurance saves the assets which was mortgaged for the loan. When the death of the borrower happens, the assets will not be attached by the loan provider. The insurance company will pay off the outstanding loan amount.

Life Insurance for credit protection protects the loan providers also. While the death occurred, they should not be worried about attaching the mortgaged assets or get back the loan amount from the sureties or dependents of the borrower.
Totally a credit life insurance policy is a necessity while taking a loan. It protects the interests of all parties related to the loan. So ask for a credit life insurance protection when you go for a loan.


Tuesday, 1 January 2013

AICPIN-IW for the month of November, 2012 is 218

(All-India Consumer Price Index Number for Industrial workers) AICPIN-IW for the month of November, 2012 is 218. This is one point more from the AICPIN-IW for the month of October, 2012. The percentage change of one month is 0.46 percent higher than October, 2012.

Normally AICPIN-IW here (AICPIN-IW for the month of November, 2012) is calculated on the basis of the price fluctuation of daily using commodities such as rice, wheat, vegetables, Atta, Medicine, vehicle hire charges etc. This time the price variation in food items gives a major contribution in ACIPIN. But the diminishing change of the price of pulses helped a lot to control the increase of AICPIN over 1 point.

The largest increase of 7 points in Consumer price index recorded in Mysore Centre and Vijaywada is just after them with 6 points. The biggest downward tendency shown by Nagpur with two point decrease. In 19 centres the change was stable as last month.

AICPIN for December will be published on 31st January, 2013. The D.A (Dearness Allowance) of Government employees is determined on the basis of AICPIN-IW.  As per the Current Scenario the Next Dearness Allowance for central government employees may be near about 80%. It may increase to One or Two percent more. The real picture will get only after declaring the AICPIN-IW for December, 2012 only. The present D.A is 72% which is declared on the basis of AICPIN-IW from 01st Jan 2102 to 30th June 2012.

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