Jagoinvestor
June 27, 2009
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Hello sir, I have all my account with idbi bank, but idbi bank not giving online fd closure Option. . Why they not give fd closure option. I choose this bank for all my family account (me, my wife, son, and huf) so what can I do? In idbi i do fd of my emergancy fund. But they can’t give online fd closing option. For fd closing we have to compulsory visit to the branch which is not possible in busy life. So i want to change bank or suggest me your view. I don’t like sbi, Bob, and pnb because then have lot of customers in branch When visited. Also they don’t give good service and value to Their customer. Give one of the good psu bank which give such kind of service, I put all my emergency fund in fd. Pls suggest. Also idbi bank give good service only problem is online fd closure. …Waiting for your reply. …
Sorry, but almost all the banks need you to visit the branch (any branch in India) to close the FD .
Hi Dr Mallikarjuna from Abu dhabi UAE.
Nice blog with logical thinking!!
My question: I got Jeevan Tarang for my son, started at his birth (policy start date 24-09-2009. Paid 7 premiums so far (premium Rs 24110, SA-Rs % lac).
Now i feel its not good to continue. i wish to make it paid up. Whats your opinion? instead i am planning to make SIP MF of Rs 2000 per mnth.
Pls suggest if should continue or what can be done??
Thanks,
Yes, its good to stop it and start a MF investments. Our team can guide you on that
We think our pro membership will help you as it fits in your requirement. We have various benefits under it like life insurance, health insurance, mutual funds and your financial analysis too..
Just check out our Pro membership once and schedule a FREE call with us to know more – http://jagoinvestor.dev.diginnovators.site/pro
Hello Manish,
I have a question about Jeevan Tarang LIC policy.
After maturity of the Tarang Policy, Vested Bonus is given. After yearly he will get 5.5% of sum assured for 100 years, if he survives 100 years then Sum Assured is given & policy terminated; if he doesn’t survive nominee will get sum assured.
So now what I want to ask is – If after Maturity I want to terminate the Policy will I get sum assured with bonus? Meaning I do not have 100 years life cover.
Kindly Reply, Thanks.
Yes, you can get it if you want to surrender it !
Hello Manish
I started investing in SBI Magnum balanced fund a month back. The percentage allocated to my profile is 40 % equity and 60% debt . Will it be considered as equity fund ?
No, only if it exceeds 65% , its considered equity fund
Hello jagoo team, I gain a lot of trust on jagoinvestor article and quality suggestion.
I have a query like- if I have financial goal for both Short term and Long term Like
Goal A – 60,000 INR – Duration 12 month — Each month deduct from saving account – 60,000/12 = 5000
Goal B – 500,000 INR – Duration 36 month – each month deduct from saving account – 500,000/36 =13888
I want that every month 5000 and 13,888 deduct from my account separately.
and i can see somewhere online that after how many month – deduct amount + interest will reach my target amount for Each goal.
Please guide me which option of investment is best suitable to meet my requirement
where i can see amount saved for each goal. any tool or investment option available ?
FD
RD
Mutual fund
or any other investment option ?
which one is the best and why ?
Please guide me
I am not aware of any tool as of now which will help you . You can basically keep an excel sheet at your end for this.
Sent from my iPhone
Begin forwarded message:
Subject: investing of funds in respect of grandmother
Sir, I am a serving officer (30 years) & have a query regarding investment of funds in respect of my grandmother (70 years). She has recently got her post office scheme matured (approx 3.5 lakhs) and FDs of approx 10 lakhs are in line to complete their terms next month. I want to park her money at a just place with following objectives :-
A. Money should be safe.
B. Should fetch her a monthly income of 6-7 thousand for her maintenance.
C. Should beat inflation to a fair amount.
D. Liquidity.
E. No taxation.
F. She wants to keep me as a nominee. Is there any taxation/ inheritance angle that I should take into consideration?
Looking forward for your guidance. Thanks & regards.
All the points are not possible in a single thing . A & C dont go hand in hand .
Debt mutual funds are the closest to the need, and there wont be taxation angle too as the income wont cross teh limit for a year
Hi Manish
I have experienced a unique problem with IRCTC and SBI Credit Card. I tried to make a reservation through IRCTC seeking confirmed LOWER Birth. I was directed to make payment by IRCTC and at the end they asked that the option of Lower Birth is NOT possible – whether I want to continue or, decline the transaction. As I badly needed Lower Birth (for Senior Citizen travelling with me) so I opted to decline. IRCTC said they will make the reversal of payment. After couple of days I got a refund from IRCTC (minus Rs. 180/-). When I asked their representative, I was told that IRCTC has ACTUALLY reimbursed what they have charged. Now my next stop was the SBI Credit Card Helpline. There I was told that as the transaction has actually happened, so the merchant has charged their transaction fee…. In this whole episode I last my money. My question is WHY IRCTC CANNOT SHOW THEIR INABILITY FOR ALLOCATING PREFERRED SEATS PRIOR TO PAYMENT GATEWAY? Or, is there any other way ( some other Credit Card etc.) to evade this loss?
Hi AlokAnand
This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that
Manish
Thanks manish,
I am following up with the Railways for their comments on this issue.
Hope sharing this experience will benefit other readers too
Thanks for your comment Alok
Hi
Manish, I just want to ask a question about PPF I have one account for self and one for my son.
Weather i can claim income tax rebate on my ppf account after 15 years complete when i would extend my ppf account for 5 years block in period twice or thrice ( extension with further contribution)
Please reply
Regards
Sanjeet Kumar ([email protected])
Yes, you will be able to take tax benefit for that too
Dear Manish,
I have a question: Legally is there a limit to the number of properties a salaried person can own?
No
Sir,
I have a JEEVAN TARANGH policy . Quarterly premium-Rs.17538. Sum assured Rs.10,00,000. premium payment term 15 yrs. I have already paid Rs.4,55,988 in six and half years. Please suggest me whether I should surrender or make it a paid up policy immediately.
rergards
I think you should apply for paid up
Hi Manish,
I have 3 LIC Money Back Policies, 2 LIC Jeevan Anand Policies and 1 Endowment assurance policy with profit. Now i am planning to surrender few policies. So please can u suggest me which of these policies i can surrender without any loss.
Details are :
1. Money Back Policy – 3 lakhs sum assured
DOC: Dec 2011
Premium term: 20 years
Yearly premium: Rs. 18,979
Paid till now with no Gaps (4 Years)
2. Money Back Policy – 3 lakhs sum assured
DOC: Dec 2012
Premium term: 20 years
Yearly premium: Rs. 19,051
Paid till now with no Gaps
3. Money Back Policy – 2 lakhs sum assured
DOC: Nov 2009
Premium term: 20 years
Yearly premium: Rs. 6386
Paid till now with no Gaps
4. Jeevan Anand Policy – 5 lakhs sum assured
DOC: Nov 2009
Premium term: 25 years
Half Yearly premium: Rs. 10,349
Paid till now with no Gaps
6. Jeevan Anand Policy – 1 lakh sum assured
DOC: July 2009
Premium term: 15 years
Half Yearly premium: Rs. 4,415
Paid till now with no Gaps
5. Endowment Assurance policy with profit- 1 lakh sum assured
DOC: Dec 2008
Premium term: 15 years
Half Yearly premium: Rs. 3,452
Paid till now with no Gaps
Waiting for your reply, thanks in advance
Heena
I think the loss will be there in all if you surrender
I bought flat in Oct 204 and currectly it is under construction.
I have taken home loan from SBI and opted for Pre EMI.
I have a query that PRE EMI which i paid/paying to bank, will it be considered for tax redemption even if i didnot get possession of my flat?
No , I dont think you can still claim it
Hello sir,
I am a 23 yr old fresher. Which LIC term policy i should buy?
there is only one LIC term plan .
I want get my newly built house insured for earthquake damage . My house is not as per the map that is sanctioned by municipal council. Will that create any problems in claims , if the situation arises.
Hi Dipak
This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that
Manish
I was taking jeevan tarang (T.NO.178)
Sum assured: 2,50,000.00
payment term:20
I was start at my age 24.
Explain about this plan d claim amount at the end of policy.
Hi ksrihari
The question asked by you is beyond our scope. Its suggested that you hire an expert on the issue and pay them for the advice.
Manish
our grace period is over n revivbal period is also over and we were not bable to pay money due to financial and health problem now we want our money back what should i do
Which policy is it ? If its a locked in policy, then you cant get it before the lock in period !
Mr.Manish Chauhan
I like Your explanation on Zurich futura. I am an NRI working in Bahrain. Recently one of agent from Zurich approached me and explained there plans.I am 38 years old . I want to take an insurance plan, which gives at least 2 crores to my family if anything happens to me.Here, my company provided health insurance only to me. So , i worried about my family. If any critical problem comes to them, I have to pay more money.So ,I am thinking of taking Zurich term policy with critical illiness cover , but premium is high. In india , if i take any term policy in india it covers only life . please suggest me. I want to take critical illness policy for my family ( spoise+2 children) and also term policy for myself which gives atleast 2 crores surrender value.
Why are you taking it there.. Why not from India ? If you plan to stay as NRI for longer years, then only you should take it outside India
Sir
I am 35 years of age and willing to invest upto 10000 rs per month for the next 20 years .I am self employed and want to retire at the age of 55 years have two kids . sir please sugest how and where should i invest.
Regards anshul
Hi Anshul
There are some good equity mutual funds you can start with .
We can help you find out the right mutual funds to invest in . Please check out this page – http://www.jagoinvestor.com/services/build-your-mutual-fund-portfolio
Hi, Manish,
I read your answer, but i am not understand properly, so request you to give me answer again.
Q- I have Jeevan Tarang policy, which bought in Jan-2011 and till date total 04 premium already paid. P.A premium Rs.73930/- and 20 yrs policy term.
(1)So if i am not paid any premium to lic, then how much amount i will get after 20 years.
(2) Can i paid 1-2 premium and then surrender this policy?
Which decision is more beneficiary for me?
If i surrender today and get back money then is that money taxable?
Please advice.
1. You will get 4*73930 after 20 yrs, if you choose to not pay any premium now .
2. You can pay 2 more premiums and then surrender, you will get 50% of your paid premiums instantly !
THe money will not be taxable in option 2
Manish
Sir
iam 32 years old NRI working in dubai for 6 years. I would like to take term policy SBI smart shield of 50 Lakh for 30 years. can I get the rider of Accelerated Critical Illness Benefit?(i am non smoker) Agent told me the CI rider is not available for NRI’s . is it correct? if yes which company gives CI rider for NRI’s
thanks
george
George
I think HDFC has it ! , I will email you