Questions

This question is about the various doomsday scenario hovering around.
How would you advise going around the notion that there is a possibility of total financial system overhaul leading to extreme value dropping of your saved money? Especially in the sight of “policy paralysis” / “no-more-reforms” in India? A possible Eurozone collapse? Unpredictable future of the US economy. Is it reasonable to project long term plans in economy (local or global) which doesn’t know what will happen a year in the future? Isn’t it more rational to steadily convert ongoing money flow into more value-stable physical goods (like gold) instead of trying to save it for retirement?

Does it make sense to save resources for the future if there is significant risk for those resources’ value in the future? What do you think?

Dear all,

Hi my name is ajay, I am an NRI living in dubai for 10 years now and am employed here. I would like to take some investment related advice. I wanted to know is investment in mutual funds in india is it a good option. Please give your views

Hi,
I want to surrender my jeevan anand policy. However I heard that we have to go all the way to serving branch to request for cancellation(surrender) of policy. I am staying in Hyderabad and my serving branch is far away.

Is there any other option for me to apply for surrender in the city where I am living. Thanks in advance

I have done some calculations to undertand total outflow in home loan versus net returns on re-investment of tax savings, need your views on it.

House loan = Rs 25,000 (joint loan – 50% each)
Interest rate = 11%
Period = 180 months
EMI = Rs 28415 (joint emi)

Tax savings –
Maximum = Rs 150000 under Sec 24 on interest
Maximu = Rs 100000 under Sec 80C on principal

Assuming possession on day 1.

Assume = Rs 12000 per head per year principal taken under Sec 80C
Assume = tax bracket of 30% both

Tax savings (year 1) = Rs 106471 —> re-investment on FD for 15 years @ 8% post-tax rate = Rs 312726. (joint).

Similarly other data points will be –

Tax Savings on Interest u/Sec 24 @30% bracket joint loan + Rs 25,000 of principal u/Sec 80C Investment of tax-savings @ 8% rate
8%
Year Annual interest paid Tax savings “FD return
after completion of
180 months from 1st installment”
1 INR 271,570 INR 106,471 INR 312,726
2 INR 263,538 INR 104,061 INR 283,008
3 INR 254,576 INR 101,373 INR 255,274
4 INR 244,578 INR 98,373 INR 229,371
5 INR 233,423 INR 95,027 INR 205,156
6 INR 220,976 INR 91,293 INR 182,495
7 INR 207,090 INR 87,127 INR 161,266
8 INR 191,596 INR 82,479 INR 141,354
9 INR 174,310 INR 77,293 INR 122,654
10 INR 155,023 INR 71,507 INR 105,067
11 INR 133,504 INR 65,051 INR 88,502
12 INR 109,496 INR 57,849 INR 72,873
13 INR 82,709 INR 49,813 INR 58,101
14 INR 52,822 INR 40,847 INR 44,114
15 INR 19,477 INR 30,843 INR 30,843

Net, i wil pay Rs 51 lakh on principal + interst.

Investment returns will give Rs 23 lakh at the end of 15 years.

So, net i pay Rs 28 Lakh, which i think is good.

Am i thinking right?

Hi

My sister turned 18. I am goi to get a pan card . But she is not having any income. she s doi her engineering.

Am i allowed to invest on her name(some 2000) per month ?

As there is no tax if we gift among the blood relatives.

Pls guide me

Regards
Vignesh

I read about the credit card myths, well explained Manish & team. Now consider if i purchase any product say from European countries and the mode of payment offered by them is Credit card.
1. What are the things i’ve to be caution & checked before doing a CC transaction?
2. How this process happens(currency conversion example EURO ->INR) and what are the pros & cons involved?
3. Kindly recommend which is best for online purchasing, Credit card–Paypal–wiretransfer or any?

A situation question
4. Example if product order pricing is 800Euro (then 56,000INR)
a. situation: what if my credit card limit is upto 50,000INR how can i afford to remaining 6,000INR payment?
b. Credit card can be extended, if so how?
c. What are the alternatives to make this payment simpler?

Kindly help out resolving the above many thanks Manish & team.
Thanks my friend Prem for redirecting through FB.

sir,

I , venu gopala swamy.b an engineer. un knowingly i have been entered in CBIL. defaulters

list. recently i have been rejected by HDFC bank when i applied for personel loan. my score is

560. i have been entered in CBIL due to credit card settlements. now my request is please

clarify my doubts.

A) which is the best way to clearoff my name from CBIL to improve the score ?

B) any agency to correspond on behalf of me with CBIl to clearoff ?

c) Now i required personel loan to meet my emergencies. is there any genuine pvt.financiers or non banking agencies to provide personel loans without considering CBIL

D) i came to know that there is one site i.e takeawayloan.com. is it believable? to take loans or please intimate any other sites to provide personel loans ?

F) finally guide me to get personel loan guinienly without considering CBIL As I am engineer in govt.sector having salary 57,000 p.m take home

I have recently moved to Singapore and will be working there for at least the next 03 years.I have 4 SIPs running in India at the moment which I had started in 2009-10 including HDFC Top 200 and Equity Fund,IDFC premier equity and UTI Dividend Yield Fund.
Q 1. Does it make sense to make ADDITIONAL investments in MFs in Singapore or is it better to send the money back to India and make additional investments into my existing SIPs ?
( Savings bank interest rates in Singapore are laughably low!)
Q 2. If I do move money back to India , do I need to pay and file IT returns ?

Last year i have invested in UTI Equity Tax Saving (G) plan , the current NAV is lower . should i stay invested . what is its long term chances of giving a good return.

I want to invest Rs 2000 per month in Canara Rebeco Equity Tax saver. Is it a good one . what value can i expect after 10 yrs if i go ahead with it.

Pls advise

Regards

AK

Dear Manish,
I took a Life insurance policy from LIC called “Limited Payment whole Life with Profit, with DAB” with Sum assured of 10 lac. I pay yearly premium of 30,864 and the policy will be matured on 2033.Plus I have 22 LIC “Endowment assurance with profit with DAB” Policy which will mature from 2033 up-to 2054 Actually when i took the policy i didn’t know anything about it.

I am really confused where to continue or stop my policies, I pay yearly premium of 1,47000. Please help

Thank you