The tax season is here and I have started getting mails and comments asking for the “Best Tax Saving Investments”. Unfortunately there is no straight answer to this. The best investment is different for different people and is aligned with their return expectations, risk taking ability, personal circumstances, and alignment with their financial goals among other […] Continue reading →
Government of India announces interest rate on small saving schemes like PPF, Senior Citizen Savings Scheme, Post Office Fixed and Recurring Deposits and Sukanya Samriddhi Account every quarter effective April 2016. This is done to keep these interest rates in sync with the market rates. The table below shows the interest reset schedule: Interest Rates […] Continue reading →
The government has finally cut the interest rates offered on small savings schemes like PPF, Senior Citizen Savings Scheme, Post Office Fixed and Recurring Deposits and Sukanya Samriddhi Account by 0.4% to 1.3%. The much publicized Sukanya Samriddhi Yojna would have 8.6% interest as compared to 9.2% earlier. Similarly for Senior Citizens Savings Scheme the […] Continue reading →
Ministry of Finance has come out with additional guidelines and new rules the way interest rates are determined for small saving schemes. These small saving schemes cover the following investments: PPF (Public Provident Fund) Sukanya Samriddhi Scheme Post office Monthly Income Scheme Senior Citizen Savings Scheme KVP (Kisan Vikas Patra) NSC (National Savings Certificate) Post […] Continue reading →
In this post we cover the major Personal Finance news that happened in the week of January 4 – 10 , 2016 10-year National Savings Certificate Discontinued National Savings Certificate (NSC) issue IX which had tenure of 10 years and was offering interest rate of 8.8% has been discontinued with effect from December 20, 2015. […] Continue reading →
Government has declared the interest rates to be paid on small saving schemes for FY 2015-16. These interest rates are revised at the start of every Financial Year. The interest paid on Sukanya Samriddhi Account has been raised to 9.2% from existing 9.1%. The investors of Senior Citizens Savings Scheme (SCSS) would also get increased […] Continue reading →
The Interest Rates on Small Saving Schemes like PPF (Public Provident Fund), SCSS (Senior Citizens Saving Scheme), NSC (National Saving Certificate), Monthly Income Scheme (MIS), Post Office Recurring Deposit (RD) and Post Office Term Deposits have been cut by 0.1%. However the interest rate on term deposit for 1 Year and the Post Office Savings account have remained […] Continue reading →
We know that we can save taxes by investing in various instruments. But a few days back I got queries on whose name can various investments eligible for tax saving investment be done. There are people who want to invest in their wife’s or child’s name or jointly and claim tax exemption on the same. […] Continue reading →
Today is the last day of 2012 and thanks to SEBI, RBI, and Finance Ministry among others which made some significant changes in your personal finance and investment. I have listed 12 of them. 1. One Scheme One Plan for Mutual Funds: Mutual Funds till now had multiple version of the same scheme – one […] Continue reading →