Skip to main content

Featured Post

The Orange Economy A Put Where Development Drives Wealth

  In a time when mechanization and machine learning are changing conventional businesses, a flourishing portion of the worldwide economy is illustrating that human resourcefulness is still a important asset. The "Orange Economy"—also known as the imaginative economy or social industries—has played a major part in protecting culture, making occupations, and developing the economy. But what is this energetic thought, and why is it picking up conspicuousness in discussions almost worldwide development?   What is the Orange Economy?   The express "Orange Economy" was at first utilized by previous Colombian President Iván Duque Márquez and previous Culture Serve Felipe Buitrago. Concurring to the Inter-American Improvement Bank, it is "the organize of interconnected forms through which thoughts are turned into social merchandise and administrations whose esteem is decided by mental property."   Orange was particularly picked since it has been related with devel...
Post a Comment

These 4 investment tools can be a better option for bank fix deposits

 

These 4 investment tools can be a better option for bank fix deposits


With low returns in bank FDs, most investors want to invest their money elsewhere in a good and safe place. Bank FD interest rates are now quite different from 2004–05. State Bank of India is offering an interest rate of between 2.9% and 5.4% to its customers in different tenures. Currently, bank fixed deposit interest rates are equivalent to the savings bank account. In fact, for the short term, banks pay less interest to their investments than FD bank savings accounts. For this, if investors want to earn big profits by investing money in another investment scheme, then learn about some investment options here.

 

Post Office National Savings Monthly Income Account (POMIS)

 

The Post Office National Savings Monthly Income Account is a five-year investment, in which investments of up to Rs 4.5 lakh as a single and up to Rs 9 lakh under joint ownership can be made. A minor kid over 10 years of age can also open an account through a guardian. The Post Office National Savings Monthly Income Account pays interest at the monthly rate of 6.6%.

 

Saving bonds

 

The maturity period of the RBI savings bond is seven years. The Government of India has given permission to issue floating-rate saving bonds from July 1, 2020. The interest rate for the period of July 1, to December 31, 2020, is 7.15%, which will be payable on January 1, 2021. The interest rate on floating rate saving bonds will be reset every six months period. Interest on RBI floating rate saving bonds is fully taxable and tax will be deducted from time to time while paying interest on the bond.

 

5-Year National Savings Certificate (NSC)

 

Post Office Savings Scheme National Savings Bank is popular among investors for its fixed-income portfolio. This certificate is safe and useful for those who want the protection of capital. The National Savings Certificate is currently offering an interest rate of 6.8% per annum, but it is payable at maturity. Minor kids over 10 years of age can purchase NSC.

 

Senior Citizen Savings Scheme (SCSS)

 

A person 60 years of age or older can invest in Senior Citizen Savings Scheme. Currently, the Senior Citizen Savings Scheme pays interest at the rate of 7.4% per annum. Depositors may also operate more than one account according to personal capacity or with the spouse. Its maturity period is 5 years. After maturity, the account can be further extended for three years.


Labels:

Comments

Post a Comment

Popular posts from this blog

Know All About Sovereign Gold Bond Scheme (SGB)

    The first time Sovereign Gold Bond Scheme was first introduced by the Government of India in the Union Budget of 2015-16. It was introduced by the Government of India to reduce the demand for the physical gold form and a part of this physical gold is bought every year in the form of gold bands for the purpose of invest in SGB.   Latest on Sovereign Gold Bond Scheme    A tenth tranche of the buy SGB Series – The Sovereign Gold Bond Scheme 2021-22 - Series X in which the Reserve Bank of India (RBI) sell gold bonds linked to the market price of gold on behalf of the government made available for investment will be open for buy SGB for the period from February 28th to March 4th.   What is Sovereign Gold Bond?   The Sovereign Gold Bond is an initiative taken by the Government of India to reduce the demand for physical gold as per the Reserve Bank of India as the increasing import of gold is affecting the growth and investment of India. Large quantities ...
Post a Comment
Read more

Know that senior citizens get many special concessions in income tax

  People above 60 years of age, i.e., senior citizens, not only get the benefit of income tax exemption but also receive special relief from income tax on investments and returns. Elderly citizens do not have to pay any income tax on income up to Rs 3 lakh.   Exemption in tax limit under 80C limit: The tax exemption limit for old citizens in a financial year is Rs 3 lakh, while a common man gets tax exemption only up to Rs 2.5 lakh. For very senior citizens who are above 80 years of age, it is Rs 5 lakh. That is, if the annual income of a senior citizen is up to Rs 3 lakh and TDS has not been deducted, then he need not file an income tax return. Similarly, very senior citizens need not file income tax returns if they do not have an annual income up to Rs 5 lakh.   If the age is more than 75 years then no return is required: Those above 75 years of age are not required to file tax returns. There is no any need to file ITR for people above 75 years of age who are ...
Post a Comment
Read more

What is Nifty and how to invest in it? Learn all the important tips

  Everyone who has gained proficiency from mutual funds to the stock market should know that investing in both is different. For example, the Nifty is an index that includes the top-50 listed companies on the National Stock Exchange (NSE). On the other hand, the SENSEX is a 30-stock index of the Bombay Stock Exchange (BSE). These are the blue-chip stocks of the best-performing companies belonging to various sectors. If an investor is still planning to invest in Nifty, then let us know what you should keep in mind.   Set Investment Goal   One of the most important things you can do for yourself is to know how to help the investor achieve his financial goals. And a common investor does not have to be an expert to do this. The investor only needs to know a few basics, make a financial plan and be disciplined enough to follow it.   Ask the investor what he or she wants and list your most important financial goals. You have to decide whether the investors are ...
Post a Comment
Read more