No Claim bonus is a reward in the form of a discount offered while you pay the renewal premium on your Motor Insurance Policy. No Claim Bonus is 20% for first claim free year and the same keeps on increasing by 5% for every claim free year till it reaches 50%. Afterall, why should'nt you be rewarded for being a good driver.
Sunday, March 27, 2011
Thursday, March 17, 2011
RBI Hikes Rep Rate and Reverse Repo rate by 25 basis points
In line with the market expectations, RBI has hiked the Repo Rate and the Reverse Repo Rate by 25 basis points each after Quarterly Review of Monetary Policy, and has also revised upward inflation target to 8% from earlier year-end expectation of 7%.
Food inflation may not come down in a hurry. Global oil & commodity prices, which have remained high for some time. With high inflation, real interest rates have remained negative and we expect that RBI would continue to hike rates as least by 50 bps more in the coming months in a phased manner.
Sunday, March 13, 2011
Invest in Gold? Invest in Kotak Gold Mutual Fund
After Reliance Mutual Fund, Kotak Mutual Fund has come up with Gold Mutual Fund. It is an open ended fund of funds. And we surely can expect more similar gold related mutual fund (which primarily invests in their respective Gold ETFs) from other fund houses pretty soon. This Kotak Gold Fund just like theReliance Gold Savings Fund invests primarily at the Kotak Gold ETF.
Tuesday, March 8, 2011
Employee Provident Fund (EPF) not to give interest for non operative accounts for 36 months effective April 1, 2011
All provident fund subscribers who have accounts which are not operative for 36 months will cease to accumulate any interest after April 1, 2011. Hence it is important that all non operative provident fund (PF) accounts should be transferred or settled before April 1, 2011.
According to EPFO estimates, there were 30.5 million inoperative accounts across 120 offices. In all, the agency had 47.1 million subscribers at the end of March 2009, which is estimated to have increased during the last financial year.
Monday, February 28, 2011
Budget 2011 and its impact explained : Rs 2060 is what all every males (Not women) would be saving as per new exemption limits
The budget is out. A quick look at what's in for all of us. Detailed coverage will follow in me next posts.
Brief Synopsis
- Unlike the last year, where the Finance Minister had announced high tax sops for individual tax payers, this year there are just minor tweaks on the income tax front.
- Males of all income group would be getting Tax Exemption of Maximum of Rs.2060 as per new tax slabs. No new tax exemption limits for women.
- The year was full of challenges for fiscal consolidation: FM
Sunday, February 27, 2011
Review LIC Samridhi Plus (Table no. 804)
Samridhi Plus (Table No.804) in a new ULIP plan which offers Highest NAV of 1st 100 months or fund value whichever is higher.
Summary
This is Guaranteed highest NAV ULIP plan in which you get highest NAV of First 100 months or the fund value at maturity (Whichever is higher), similar to LIC Wealth Plus but charges are much lesser in this plan.
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