Investment, Financial Planning, Mutual Fund & Income Tax Queries

What are the best Mutual Funds in ELSS Category and the best way to invest in ELSS Mutual Funds

Which are the best mutual fund in ELSS category? Which is the best way to invest in ELSS mutual fund through SIP or Lumsum?

Aug 14, 2015 by Sandeep Patil, Mumbai | Taxation

The best way to invest, in our opinion, would be Systematic Investment Plan way. The advantage of SIP is that you can ride the volatility, get into in a disciplined way of investing and benefit from rupee cost... Read More

Suggest Best ELSS Funds for 5 years

Please suggest best ELSS for 5 years and also suggest best plans for 80ccc?

Aug 14, 2015 by Arun Kumar, | Taxation

Some of the best ELSS Plans on the basis of 5 years returns are AXIS Long Term Equity Fund, Franklin India Taxshield, BNP Paribas Long Term Equity Fund, Reliance Tax Saver ELSS Funds and Birla... Read More

How to plan retirement through Mutual Funds

How to plan retirement through mutual fund? Is it worth to make through PENSION FUND or any other way?

Aug 6, 2015 by Sandeep Patil, Mumbai | Retirement Planning

Retirement planning is a vast topic. We will discuss some broad guidelines. There are 10 high level steps for retirement planning. You need to estimate your monthly income need during your retirement... Read More

How to reduce the Home Loan EMI and invest in Mutual Funds through SIP

I have an ongoing home loan from, HDFC bank. Details are as follows: Home loan amount - 49 lakhs, Insurance of loan - 1.5 lakhs, Start date - March 2012, Initial EMI was - 51,000, Current Rate of interest - 10.8%, Current outstanding - 46 Lakhs, Current balance EMI - 144, Special situation - I had asked bank to increase my EMI from 51k to 58k in sep 2012, so as to pay faster. Query 1 - After discussion with bank if I want to reduce my ROI to 9.9%, I need to pay minimum of Rs. 5700+500. After which, with my current EMI of 58K, the balance EMIs will go down to 130. Shall I opt for it? Because if ROI by RBI goes down further, I will again be asked to pay conversion fees to bank. Query 2 - Should I reduce my EMI back to Rs. 52k, in that case my balance EMIs will go to 163. I am planning to invest this additional 6K per month in mutual fund, is this a good idea?

Aug 4, 2015 by Sudhir, Indore | Financial Planning

HDFC charges 0.5% conversion fee (plus tax) on the outstanding principal balance to move to the current adjustable rate of interest. The current adjustable rate offered by HDFC is 9.9%, has been in effect... Read More

Interest Rates of NSC and Bank Fixed Deposits

Please give suggetions which one is better National Saving Scheme or Tax Saver 5yeras FD?

Aug 4, 2015 by Karthik, Hyderabad | Taxation

NSC 5 Years – 8.50%. Tax Saver 5 Year Fixed Deposits – Between 8% - 9% depending upon the... Read More

Investment of lumpsum amount for emergency purpose

I want to invest Rs. 1 lakh in mutual funds as a lumpsum amount for a 3 year period. I want to get best returns and i want to keep as an emergency fund that whenever emergency requirement comes for me i will take back. Kindly suggest me the best funds for above amount. This money will be reserve money for the emergency situations?

Aug 4, 2015 by Sunil Kumar, Chennai | Mutual Fund

Even though your investment horizon is 3 years, you want to keep the funds for emergency purpose. Therefore, you should not invest in equity oriented mutual funds. You may, however, invest in Short Term Funds... Read More

How to empanel with BOB PIONEER Mutual Funds as an Advisor

I am a newly ARN holder. I want single Co empannel with BOB PIONEER MUTUAL FUND. this decision are right for me? Please reply about BOB PIONEER related information?

Aug 3, 2015 by Ravindra Kumar Dubey, Jaunpur | Mutual Fund

Congratulations for becoming a Mutual Fund Advisor. Please check the following link and get the... Read More

How to get Monthly Returns from Lumpsum Investments in Mutual Funds

I want to invest lumsum amount in Mutual Funds Rs. 500000 from next monthly returns in small amounts Rs. 8000 per month it can be possible?

Aug 3, 2015 by P Mohan Rao, Hyderabad | Mutual Fund

Your query is not very clear. We are assuming that you want to clarify, if a monthly income of Rs 8,000 from a lump sum investment of Rs 500,000 is possible. A monthly income of Rs 8,000 from an investment of Rs 500,000 implies a dividend yield of 19%. We think, such a high dividend yield is not possible... Read More

Investment of Retirement Corpus

I want to invest my retirement corpus. Please suggest suitable debt portfolio for regular secure income?

Aug 3, 2015 by Chitra Mahajan, Asansol | Retirement Planning

Financial planning experts recommend retirees to have some allocation to equities, as opposed to 100% allocation to debt. While risk is an important consideration for retirees, with retired lives getting increasingly longer, equity over a sufficiently long time horizon, can not only beat inflation but also grow your retirement corpus... Read More

SPELLING MISTAKE IN NOMINEE NAME

There is a slight spelling mistake in the name of the nominee for the life insurance. Will the nominee face problems if he/she claims the insurance stating his/her name with the correct spelling? This is question arising from a real life situation?

Aug 3, 2015 by Byronkhiangte, Hnahthial | Life Insurance

We suggest you to get the nominee name corrected as soon as possible. During the claim process, Insurance companies ask for Identity and Address proof of the nominee. This should exactly tally with the... Read More