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Life is full of unwanted accidents you should be sure that your family remains secured dependably. For a secure future, you should choose an insurance company between the best insurance companies in India. There are multiple insurance companies that provide the best insurance at very low premiums. You can choose the most reputed company to secure your family’s future. Accidents never give warnings you should always be prepared for any unwanted incident. So insurance is the best option to secure yourself and your family.

Here Is The List Of Best Insurance Companies In India LIC (Life Insurance Corporation of India)

After passing the bill of Life Insurance Corporation Act, LIC was formed in 1956. It is one of the oldest insurance companies and also dominates the market. Over a period of time, LIC has grown bounds and leaps and still continues to dominate. They had served more than 250 million people till now and counting. LIC is one of the oldest and managed by the government that’s why people have more trust in it.

ICICI Prudential Life insurance

It is among the first private insurance company which started insurance by December 2000. This is a joint venture between ICICI Prudential Life insurance company and ICICI Bank. Their Assets Under Management (AUM) as on 31st March 2019 were `1,604.10 billion. ICICI Prudential Life insurance became the first private insurance company to attain assets under management of `1 trillion.

Must Read: INSURANCE TYPES – DIFFERENCES YOU MUST KNOW Bajaj Allianz Life Insurance

This is a joint venture between Allianz and Bajaj Limited. To make process faster claim deposits via electronic transfer. They have a solvency ratio of 592% as of March 2018. Bajaj Allianz serves you in the most convenient and faster manner when you need them. They have many plans like ULIPs, group life insurance, term life insurance, child plans, retirement plans and many more. Therefore it is good for insurance. With customized products and services, customer-centric operations and digitally enabled processes, it always works to gain more customers.

Reliance life insurance

It is a part of the Reliance Capital Company and Reliance group. The company has over 10 million policyholders, 727 branches and 55,492 advisors as on March 31, 2019. It has 97.71% claim settlement ratio. This private company is one of the largest non-bank life insurers.

Reliance life insurance caters to five distinct segments

  1. Protection
  2. Child
  3. Retirement
  4. Saving and investment
  5. Health
Must Read: E INSURANCE ACCOUNT – HOW TO OPEN, BENEFITS AND USE Birla Sun Life insurance

It is a joint venture between the Sun Life financial INC and the Aditya Birla group. Previously it is known as Aditya Birla Financial Services Limited. It has a strong presence across asset management, life insurance, corporate lending, private equity, project finance, wealth management, general insurance broking, etc. Birla group has more than 17,000 employees and 2,00,000 agents. At the end of 2018, they manage aggregate assets worth Rs. 3,000 billion.

SBI life insurance

It is a joint venture between BNP Paribas Cardiff and State bank of India. BNP Paribas owns 26% and SBI owns about 74%. State bank group has 23,000 branches in India and 198 offices in 37 countries. SBI life has many insurance plans like protection plans, online plans, wealth creation, with insurance retirement plans and child plans. They provide insurance and pension products at competitive prices. With customer satisfaction and high standards, they have world class operating efficiency.

Max life insurance

It is a joint venture between Mitsui Sumitomo Insurance Co.Ltd and Max India Ltd. in Max life claims paid percentage is 98.26% and they have 221 offices approved by IRDAI. They offer various plans like life insurance, online insurance, term insurance, online term, child plan, retirement plan and many more.

  • Sum assured 5,11,541 crores
  • Assets under management 52,237 crores
  • The solvency ratio of 275%
HDFC standard life insurance

It is one of the leading insurance companies. This is a joint venture between standard life plc and Housing Development Finance Corporation Ltd. in this venture Standard Life Ltd. holds about 26% equity and HDFC Ltd holds about 72.37 % equity. For a long term sustainable business, they believe in social responsibility. They cover various sectors like education, health, livelihood, environmental sustainability and many more.

Must Read: HEALTH INSURANCE BENEFITS – YOU MUST CHECK THE POLICY Tata AIA life insurance

It is a joint venture between Tata Sons Ltd. and AIA Group Ltd. they have 98% claim ratio and 83.5% 13th-month persistency. This is among the best insurance companies in India. They provide the simplest and best life and health insurance solutions. Tata AIA life insurance sets and achieves the highest standards. They support their customers when they need some extra push. Therefore with this customers gain extra confidence to do some more or extra.

Exide Life Insurance

Exide Life Insurance serves more than 15 lakh customers and manages assets over 12000 crores. With a 96.8% claim settlement ratio, it is capturing the market with exciting policies. They focus on affordable premiums so many customers can take benefit of insurance policies. It has a choice of 3 payout options monthly Income for 120 months, 50% Lump sum + Monthly Income for 60 months and 100% Lump sum.

In the above discussion, we only discussed some of the best insurance companies in India. Therefore it does not mean that these are only insurance companies. You can also choose an insurance company apart from this. These insurance companies provide good products and services. Products of these companies are suitable and versatile for all needs in one’s life. Choosing an insurance company is a tough task because there are so many options.

The best way to secure your family’s future when you could not be there then taking insurance policy is the best option. Insurance policies always cover you and your family in hard times. So before any accident or unwanted incident take insurance policy. Insurance helps you to own a home, vehicles, maintain the standard of living, cover health care costs, run a small business, take a vacation and many more. So take the benefits of insurance policy and choose the best one which suits you the most.

The post TOP 10 INSURANCE COMPANIES IN INDIA – BEST IN CLASS appeared first on Money Investor.

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With the help savings account, you can teach your children the importance of money. Savings account for kids is a great step and with this, you can save for your children early. Experts believe that it is never too late to start saving. The sooner you start the better it is for you and your child’s future.  Many parents start saving from their child’s birth. For this, there are various ways like fixed deposit, insurance policy, savings account. If you go with savings account then you build a corpus for your child’s future needs.

Some Of The Popular Savings Account For Kids In India Pehla Kadam And Pehli Udaan By SBI Bank

Both of these savings bank accounts are loaded with banking features like mobile and internet banking, it will help your children with different channels of modern-day banking. Pehli Udaan account is for minors above 10 years old who can sign uniformly and it doesn’t need jointly opened with parents. But Pehla Kadam is jointly opened with parents.

Must Read: SMALL FINANCE BANK IN INDIA

Kids Advantage Account By HDFC Bank

In this kind of account, kids get ATM/International debit card. Your child gets the daily shopping limit on this account is set at Rs. 10,000 and can withdraw Rs. 2,500 through an ATM. Free education insurance cover of Rs. 1,00,000 is available in this account. Other key benefits are also available like free cash withdrawals and free personalized cheque book.

My Junior Account By Kotak Mahindra Bank

This account comes with a personalized junior ID card for children and has a host of privileges across entertainment, dining and shopping on kid’s brands. It offers 6% p.a. interest rates on a savings balance over Rs. 1 lakh. And a 5% interest rate on an account balance up to Rs. 1 lakh.

Young Stars And Smart Star Account By ICICI Bank

Young stars account is for minors and the smart star account is for children between the ages of 10 and 18. If you are interested in this savings account for kids then you can contact any ICICI bank branches across the country. Kids can only spend Rs. 5,000 on a daily basis.

Future Stars Savings Account By Axis Bank

Parents of children below 10 years of age can operate their child’s account. If one wants to open an account for their child then they have to deposit Rs. 2,500 in the beginning. In this account, a personal accident insurance cover of up to Rs. 2 lakhs is provided.

Must Read: MUTUAL FUND DEFINITION- WHAT IS MUTUAL FUND?

Power Kids Account By IDBI Bank

It is an attractive account because it requires a minimum balance of Rs. 500. No penalty charge for AQB (Average Quarterly Balance). Five free ATM withdrawals at other bank ATMs with a daily withdrawal limit of Rs. 2,000. Free monthly e-statements, personalized cheque book and free passbook facility. In this savings account education loan at competitive interest rates is available.

Therefore if you open a savings account for your kids then you are encouraging your child and also teaching them the value of money. So choose the best savings to account for your kids depending on your needs.

The post 6 BEST SAVINGS ACCOUNT FOR KIDS IN INDIA appeared first on Money Investor.

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Forex trade India defined as trading in foreign currency. Investors invest to take advantage of currency trading in the short and medium term. Indian exchanges like NSE, BSE, MCX-SX trade forex and forex trade India is legal, only if it is through registered Indian forex brokers. The main currency pairs are EURINR, USDINR, JPYINR and GBPINR. You can also trade with the help of brokers but they should have membership in mentioned exchanges.

How Does Forex Trading from India Work?

Forex trading is the same as equity trading. In forex trading exchange rate matters but in equity trading rate of shares matters. Further, investors can buy or sell their currency pair as per movement in currencies.

Some Examples To Understand Forex Trade India clearly:
  • Let’s take the dollar if you want to take the benefit of the growing dollar. You have to buy USDINR contract on the exchange at the present price. If the price of dollar increases then you can sell it to take the profit but if you sell it in decreased value then you lose some of your invested money.
  • An investor can square off their position whenever they want during the period of the contract. By selling currency future contract investor can short close their position.
  • The investor can take a similarly short and long position in EURINR, JYPINR or GBPINR.

Must Read: ULIP RETURNS IN 10 YEARS- HOW GOOD AS AN INVESTMENT OPTION?

Available Forex Trading Brokers in India

Foreign currency trading is done with registered Indian brokers. The most common exchanges are the NSE (National Stock Exchange) and MCX-SX (Multi-Commodity Exchange). COMEX is used as regulators at the international level exchange. RBI and SEBI regulate currency market.

Some of the best Forex brokers:
  • SBI FX Trade
  • eToro
  • LiteForex
  • Nord FX
Risk In Forex Trading

Forex trade in India may not suit everyone and carries a high-level risk. Before investing in forex trading you should know your risk-carrying capacity, investment objectives and level of experience. If you are interested in forex trading then you should take advice from a financial advisor.

How Are Currency Prices Determined?

Various political and economic conditions are responsible for the change in currency prices. But, apart from these, international trade, interest rates, political stability and inflation are also responsible for currency prices. Many times governments also participate in the foreign exchange market to affect the value of their currency. They do this by lower or raise the price of their domestic market. These factors are highly responsible for currency prices.

Must Read: SMALL FINANCE BANK IN INDIA

Therefore if you know your objectives then you can make money by forex trade in India. Some examples of hard currencies are – the Euro, the US Dollar, the Japanese Yen, and the Pound. The central bank of the country like Federal Reserve Bank of US, Reserve Bank of India etc. issues the currency for every country.

Some investors have a myth that only the US dollar in the base currency in currency trading. But it is not necessary you can use any currency as the base currency. So the investors who are looking for forex trade India should know their aims and then only invest in this.

The post WHAT IS FOREX TRADE IN INDIA – KNOW IN DETAILS appeared first on Money Investor.

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Pension plans in India or retirement plans are investment plans that distribute a part of your savings to collect over a period of time and provide you with a regular income after retirement. Savings can exhaust very fast and sometimes used in emergencies. So if exhaust your savings then what will happen to your post-retirement period? Hence choose the best pension plans in India which suit you the most.

Types Of Available Best Pension Plans In India

For securing the post-retirement period then pension plans are better investment options. These plans have multiple classifications, based on benefits and plan structure. Here are the types of pension plans in India:

Deferred Annuity

This scheme allows you to collect a corpus through single premium or regular premium over a policy term. Deferred pension plans are immense and also include tax benefits. This plan has different types of payments mode so it suits all kind of investors. And one of the best pension plans in India.

Must Read: TOP 10 PENSION PLANS IN INDIA BEST FOR RETIREMENT LIFE Guaranteed Period Annuity

In this plan, the annuity is given to the assured for certain periods like five, ten, fifteen or twenty years, whether the assured survives or not during that duration.

With Cover And Without Cover Pension Plans

“With cover” plans cover life cover. After the death policyholder, a lump-sum amount is given to the family members. In “without cover” plans don’t have any life cover. After the death of the policyholder, the nominee will only get the corpus.

Immediate Annuity

In this scheme, the pension begins immediately. Pension will start instantly after one deposit lump-sum amount. Policyholder’s nominee will be entitled to get money after the death of the policyholder. This scheme also includes tax benefits.

Annuity Certain

The annuity is paid to the annuitant for a required number of years. In this plan, if the annuitant dies before taking all payments, the annuity will be paid to the nominee. The annuitant can also choose the period.

Life Annuity

This plan pays to the annuitant until death. In this plan, there is an option to choose with the spouse option. In case of the death of the annuitant, the pension will be given to the spouse of the policyholder.

Must Read: WHAT ARE THE BEST MONTHLY PENSION PLANS? Pension Funds

PFRDA (Pension Fund Regulatory and Development Authority) is a government body that has allowed 6 companies as fund managers. These plans remain for a long time and giver better returns at maturity.

National Pension Scheme (NPS)

This scheme invests in the equity and debt market. Only 60% of the amount can be withdrawn at the time of retirement. Then the remaining is used to purchase the annuity. Also, its maturity amount is not tax-free. It is one of the best pension plans in India.

Some Of The Best Pension Plans Available In India LIC Jeevan Akshay 6 Plan

This plan comes under immediate annuity plan. You just have to pay a lump sum amount to start this plan. After buying this plan you will get a pension immediately.

Features and benefits

  • Premium paid in a lump sum
  • The pension can be received yearly, half-yearly, quarterly or monthly
  • Entry age 30 years to 85 years
  • Also, Income tax benefits
  • Minimum purchase price Rs. 1 lakh for offline and Rs. 1.5 lakh for online
SBI Life Saral

It is a non linked, individual, participating, traditional pension plan. It also offers protection from market volatility and fluctuation to the policyholder.

Features and benefits

  • For the first 5 years guaranteed bonuses
  • Minimum premium payment of Rs. 7,500 with no maximum limit
  • Entry age 18 years to 65 years
  • Maturity age 40 years to 70 years
  • Also, Income tax benefits
Must Read: PROS AND CONS OF NEW PENSION SYSTEM HDFC Life – Click2retire

It is an online unit linked plan. It offers the assured market linked returns with minimal charges. Further, this plan suits post-retirement requirements.

Features and benefits

  • Maturity age 45 years to 75 years
  • Entry age 18 years to 65 years
  • Income tax benefits
  • Death benefits to the nominee will be 105% of premiums paid till then
  • Guaranteed vesting benefits.
Reliance Smart Pension

It is a non-participating unit linked plan. Hence, it helps to save in a systematic manner. So the policyholder can build a lump sum amount for regular income after retirement

Features and benefits

  • Policy term from 10 years to 30 years
  • Guaranteed loyalty additions
  • Vesting age 45 years to 75 years
  • Income tax benefits.
Bajaj Allianz Pension Guarantee

This plan assures for guaranteed, regular income. So, the policyholder gets the pension till death, with a range of immediate annuities to choose from.

Features and benefits

  • Entry age 37 years to 80 years
  • Minimum purchase Rs. 25,000 with no maximum limit
  • The annuity can be extended to the spouse
  • Six annuity options are available.
Must Read: NATIONAL PENSION SCHEME A NOBLE STEP TO PROVIDE PENSION ICICI Pru Easy Retirement

This plan invests in equity and provides regular income in the post-retirement period. Also, it offers protection against market volatility and generates good long term returns.

Features and benefits

  • Entry age 18 years to 70 years
  • Policy term ranges 10 years to 30 years
  • Different payment modes available
  • Minimum premium of Rs. 48,000 with no maximum limit.
Birla Sun Life Empower

This plan focuses to enhance the policyholder’s savings post-retirement. Further, it is a non-participating and unit linked pension plan.

Features and benefits

  • Policy term between 5 years to 30 years
  • Entry age 25 years to 70 years
  • Freedom to choose policy premium amount
  • Freedom to choose a risk profile.
Max Life Guaranteed Lifetime Income Plan

This plan guarantees the policyholder a regular stream of income after his or her retirement. Also, it is a non-linked traditional annuity plan.

Features and benefits

  • Lifelong payments for you and your spouse
  • Four annuity options available
  • Yearly, half-yearly, quarterly and monthly options available for the pension.
HDFC Life – Assured

It is a unit link plan. This plan offers market linked returns with loyalty additions. Generally, it invests in multiple plans to give better returns to the policyholder.

Features and benefits

  • Entry age 18 years to 45 years
  • Single and limited pay options
  • From the 11th year onwards loyalty additions every alternate year
  • Income tax benefits.

Therefore in the above article, we can clearly see that investing in pension plans is a good investment. So choose the best plan which suits you the most. Hence if you are looking for a pension plan then here are the best pension plan in India.

The post PENSION PLANS IN INDIA – COMPARE ALL BEST PLANS appeared first on Money Investor.

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Unit Linked Insurance Plan (ULIP) is a mix of insurance along with investment. ULIP Returns in 10 years are increased.The main motive of this plan is to provide wealth creation along with life cover. In this plan, the insurance company invests a portion in life insurance and remaining portion into a fund that is based on debt or equity and matches with your long term goals. These goals could be children’s education, retirement planning or another important event you may wish to save for.

How Does ULIP Work?

The insurance company invests a portion of the premium in bonds/shares etc. and the remaining amount is utilized in providing an insurance cover. Fund managers manage investment in insurance companies. ULIPS allow you to switch your knowledge of the market’s performance as well as your portfolio between equity and debt based on your risk appetite. This is a huge factor in the popularity that investor can switch easily.

Lock-In-Period Of ULIP

Lock in the period increased from 3 years to 5 years by the Development Authority of India (IRDAI) and the Insurance Regulatory in the year 2010 as regards ULIPs. Insurance is a long term product so the policy can range from 10 to 15 years.

Must Read: ULIP VS MUTUAL FUNDS – PROS & CONS

Why You Should Invest In ULIPs & ULIP Returns in 10 years.

Income Tax Benefits: ULIP is eligible for a tax deduction under Section 80C. Apart from this, the returns in this policy on maturity are excluded from income tax under Section 10(10D) of the Income-tax Act. Therefore this is a double benefit that you can claim with this policy.

Life Cover: ULIP gives you a life cover with investment. It offers security to the family of the taxpayer in case of emergencies like the death of taxpayer etc.

Finance Long Term Goals: If you have long term goals like buying a new car, a house, marriage etc. then it is a good investment option for you. Money gets compound effect in this plan. So the returns are better. In ULIP plan the policy always goes for a longer time to reap the best out of it.

The Flexibility Of A Portfolio Switch: ULIPS allow you to switch your knowledge of the market’s performance as well as your portfolio between equity and debt based on your risk appetite. Apart from this insurance companies offer very few numbers of switches free of cost.

ULIP Returns in 10 years Vs Mutual Funds returns
Particulars ULIPs Mutual Funds
Nature Investment cum insurance product Pure Investment product
Withdrawal Only after 5years lock-in-period Can be withdrawn anytime
Switching Here, Switching between funds is permitted and not subject to taxation. Switching between schemes of the same fund house is permitted. However, it’s treated as redemption and the resulting capital gains are taxable.
Charges Premium allocation charge, mortality charges, fund management charge and administration charges No entry load, the annual fund management charges apply and an exit load, if applicable.

Must Read: HDFC ULIP PLANS CHECKPOINTS FEATURES BENEFITS

Best ULIP Returns in 10 years Plan To Invest In 2019
ULIP Plans Entry Age Minimum Premium Premium Allocation Charges Policy Admin Charge No. Of Free Switches In A Year
Bajaj Allianz Future Gain 1 to 60 years Rs 25,000 0% to 1.5% Rs 33.33 per month Unlimited
PNB Metlife Smart Platinum 7 to 70 years Rs 30,000 to Rs 60,000 1.25% p.a
Rs 40
4
Max Life Fast Track Growth Fund 18 to 50 years Rs 25,000 to Rs 1 lakh 2%(in Single Premium) to 4% (for Annual premium)
Rs 1,500 per year
12
Sbi Life Wealth Assure 8 to 65 years Rs 50,000 3% of Single Premium Rs 45 per month 2
Hdfc Life Pro Growth Plus 14 to 65 years Rs 2,500 to Rs 10,000 2.5% of the Annual premium Rs 500 per month unlimited
Types Of ULIPs

These are divided on the following parameters

  1. Funds that ULIPs invest in

Balanced funds: Where the premium is paid balanced between the equity and debt to low the risk for investors.

Equity funds:  Premium is invested in the equity market.

Debt funds: Premium is invested in debt instruments that carry lower risk and also offer a lower return.

Must Read: INSURANCE TYPES – DIFFERENCES YOU MUST KNOW

  1. The end use of funds
  • Child education
  • Retirement planning
  • Wealth creation
  1. The death benefit to Policy Holders

Type I ULIP: This pays the fund value to the nominee or higher of the assured sum value in case of death of the policyholder.

Type II ULIP: This pays the fund value and the assured sum value to the nominee in case of the death of the policyholder.

Types Of Fees And Charges Premium allocation charge

It is deducted as a fixed percentage from the premium in the starting years of the policy. It includes the renewal and initial expenses and intermediary commission expenses.

Fund Management Charges

It is the fee charged the insurance company for the management of the various funds in the ULIP. The charge on non-equity funds is much lower and insurers levy the maximum amount allowed in equity funds.

Mortality Charges

It is for the insurance coverage under the plan. Mortality charges depend on a number of factors like the sum assured, age etc and are deducted on a monthly basis.

Policy administration charges

It is deducted on a monthly basis and charged for the administration of the policy. ULIP Returns in 10 years are increased and it is a good choice because it offers benefits of insurance with investment.

Must Read: INCOME TAX DEDUCTION 2019-20 DO NOT MISS ANY POINT

Switching your funds

The moving of investments between options is called switching. There are certain limits per year in which you have options to switch your funds. Some changes may charge of Rs. 100 – Rs. 250 per switch.

Things To Consider As An Investor
  • Personal financial goals
  • Compare ULIP offerings
  • Risk factor
  • Investment horizon

ULIPs offer an advantage in terms of being customizable and flexible. ULIPs provide the option to move your money between debt and equity funds, the flexibility of premium payment, and allow you to withdraw a part of your money whenever you need it. ULIP returns in 10 years can be obtained on your risk appetite you can also choose where to invest. ULIPs are investment instruments that combine the benefits of both investments and life insurance in money markets.

The post ULIP RETURNS IN 10 YEARS- HOW GOOD AS A INVESTMENT OPTION? appeared first on Money Investor.

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Mutual fund KYC form is defined as a standardized format that is used to capture the key information of an investor. There are many mutual fund KYC form variants depending upon the individual/non-individual applicant or updating existing KYC information with new data or is seeking a fresh KYC for the new investor.

What is KYC – Know Your Customer?

Most financial processes and activities become digitally paperless with the digital revolution. In order to stop the misuse of online financial facilities, regulatory authorities such as the Securities and Exchange Board of India and the Reserve Bank of India came up with compliance requirements such as Know Your Customer (KYC).

KYC Form online Download

There are five different KYC Registration Agencies (KRAs). Each KRA provides KYC form that can download, fill up and submit with the required documents.

You can download Mutual fund KYC form directly from here.

Here Are Those 5 KRAs
  1. CAMS KRA form
  2. CVL KRA form
  3. NSE KRA form
  4. Karvy KRA form
  5. NSDL KRA form

 

Must Read: UAN MEMBER PORTAL ONLINE TO UPDATE KYC DETAILS EPF

Mutual Fund KYC Documents

For the proof of identity, the central government of India has given the list of six documents which are officially valid documents. If these documents do not contain the residential proof then you have to provide a valid document which has a complete address.

Here is the list of the KYC documents:
  • Identity Proof Documents
  • Passport
  • Driving Licence
  • Voter’s Identity Card
  • PAN card
  • Aadhaar Card
  • NRGEA Job Card
Address Proof Documents
  • Electricity Bill
  • Gas Bill
  • Bank Account statement
  • Landline Bill
  • Life Insurance Policy
  • Registered Lease Agreement
Main Reasons For Filling Out A KYC Form

New Investor Registration

This is the most common reason for non-individuals or individuals investors to fill out and submit a KYC form. The information filed by the investor is collected by the 3rd party fund house or financial institution and passed on to the one of the KRAs (CVL KRA, CAMS KRA, etc.) operating in India.

Change Details Registration

Investors details may vary from time to time and these details have to update on the KYC website. It ensures the accuracy of the investor’s available information. Details change after marriage, moving somewhere, etc. so they should update the changed address, phone number, email id, bank account and so on.

Limitations Of Paper-Based Mutual Fund KYC Form

First of all, it is time-consuming. After the submission of KYC document, many go through each and every page. They see whether the documents are legible and acceptable. This is SEBI-mandated KYC procedure.

Introduction Of Aadhaar-Based Online KYC Registration

Paper KYC system still exists but now people go for Aadhaar-based online KYC registration. The key requirement is a valid Aadhaar card. This online process is less time-consuming. By filling some details investors can check KYC status online.

Must Read: MUTUAL FUND DEFINITION- WHAT IS MUTUAL FUND?

Key benefits of Aadhaar-based KYC Registration
  • Faster processing
  • Investors can apply for KYC from their office or home
  • Eliminated duplicate efforts
  • Completely paperless and eco-friendly

Therefore we have discussed here the complete details of KYC form. It has its own benefits and with the provided link one can directly download them.

The post MUTUAL FUND KYC FORM- HOW TO DOWNLOAD? appeared first on Money Investor.

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Investment schemes which are professionally managed are known as mutual funds. There are many mutual fund companies in India. Further, only expert mutual fund managers manage these funds. The fund managers keep a record of the growth and performance of these funds. For performing funds well, they make required alterations so the investors receive the best possible returns.

The List Of The Best Mutual Funds In India
  1. ICICI Prudential Focused Bluechip Equity Fund
  2. HDFC Monthly Income Plan – MTP
  3. Aditya Birla Sun Life Small & Midcap Fund
  4. Tata Equity PE Fund
  5. Kotak Corporate Bond Fund
  6. L&T Tax Advantage Fund
  7. SBI Nifty Index Fund
  8. Axis Liquid Fund
  9. Canara Robeco Gilt PGS
  10. DSP BlackRock Balanced Fund
Different Types Of Mutual Funds:

Equity Funds: These funds invest money primarily in stocks.

Debt Funds: It invests in fixed income securities.

Diversified Funds: These funds allow you to invest your money in industries or diverse sectors.

Must Read: MUTUAL FUND CONSOLIDATED STATEMENT DOWNLOAD IN FREE?

Gilt Funds: These funds invest money in central and state government securities.

Index Funds: It invests money according to how stock market index functions.

Liquid Mutual Funds: These are investment plans that will assign funds primarily to money market instruments like term deposits, treasury bills, commercial papers etc.

Debt-Oriented Hybrid Funds: In these funds money invested in debt and equity.

Arbitrage Funds: These funds are used as equity plans for taxation purposes.

Dynamic Bond Funds: Money will be invested in money-market and Debt Instruments.

How To Select The Best Mutual Funds?

Every investor wants to end up with the best mutual fund. This process has guided by three points:

  • Life goals
  • Risk profile
  • Investment horizon
Some Steps To Choose The Best Mutual Fund Companies in India:

Investment goal

After considering one’s needs make an investment. Mutual funds have an investment objective which may match your goal. So, choose the fund which covers your financial plan and risk appetite. You can get all the information of mutual fund in information document which has strategy, goal and asset allocation.

Fund history

Mutual funds which have long track record show the strength of the fund in the tough times. But, a newly launched fund may not perform well in the tough times. A good track record shows the accuracy of the mutual fund’s investment strategies.

Must Read: MUTUAL FUND EXPENSE RATIO – DEFINITION AND DETAILS?

Financial ratios

Return go and risk hand in hand. Examine mutual funds risk-return potential before finalizing it. Financial ratios can help to do this easily. Alpha and Sharpe ratio are handy to indicate the relevant information.

Expense ratio

Expense ratio is a measure which is used to analyze while selecting a mutual fund scheme. It is expressed in percentage and the fund manager charges for managing your account.

Performance fund manager

Fund manager plays an important role in the performance of the fund. With the help of the fund manager, we can know the track record. Generally, a fund which has given contained losses and consistent returns during the bear runs show robust fund management.

The post BEST MUTUAL FUND COMPANIES IN INDIA – A QUICK REVIEW appeared first on Money Investor.

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Micro ATMs are a small POS type machine. Hence, it allows customers to perform financial transaction like cash withdrawal, deposit and fund transfer.

What are Micro ATMs?

It is a mini version of an Actual ATM. Micro ATMs are a modified point of sales terminals. This terminal can connect to the core banking network through GPRS to perform banking transactions.

This POS has a card swipe facility and a fingerprint scanner. These machines are available to the bank representative at remote locations.

Further, these machines are portable and handy. But is not designed to keep any cash. Generally, the bank representative carries the cash with him. He is also responsible for collecting and depositing cash.

What transactions can be done at Micro ATM?

The Micro ATMs can perform the following functions

  • Cash Withdrawal
  • Cash Deposit
  • Balance Enquiry
  • Fund Transfer
  • Service Request acceptance
  • Aadhaar feeding
  • eKYC based saving account opening
 How does Micro ATM Work?

Working of Micro ATM is almost the same as the normal ATM machine.

  1. You need to go via a verification process. For the verification process, the Aadhaar card with fingerprint scanning or card swipe option is available.
  2. After successful verification, Micro ATM will display various transaction options.
  3. Next, select the option and device will process the transaction.
  4. After a successful transaction, a message will come on the screen and you will get a print receipt.
  5. Further, you will also get SMS alert from your bank about the transaction.
  6. This Micro ATM has the facility for the transaction for all banks. However, it is mandatory to link your Aadhaar card with your bank account in order to use this facility.
Advantages of micro ATMs.
  1. The installation cost of a Micro ATM is lesser than that of an ordinary ATM.
  2. It is portable and handy.
  3. Micro ATM works through GSM connectivity.
  4. Boost in banking services anywhere in the remote area using Micro ATM.
  5. It is a low-cost option alternative to the existing ATM.
  6. Micro ATM is a portable device.
  7. Easy to set up anywhere in the remote area & easy to carry.
  8. The facility of Biometric enabled secured transactions.
  9. This device is usable for any bank.
Disadvantages:
  1. Micro ATM cannot provide money anytime.
  2. If the bank correspondent is unavailable or the bank representative is not available, you can not do any financial transaction.
  3. Or in connectivity problem, you can not use this device.

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What is Aadhaar Micro ATMs?

It is a card swipe machine through which banks can remotely connect to their core banking system. Further, this POS machine comes with a fingerprint scanner. In other words, micro ATMs are the point of sale terminals. Generally, it is to disburse cash in remote locations. So, Micro ATMs are similar to point of sale (PoS) terminals. Also, are a doorstep mobile banking arrangement cum-mobile ATM device.

Basics of Aadhaar Micro ATMs.

Aadhaar micro ATMs provides basic financial transactions using only Aadhaar number and fingerprint as identity proof. It is like a modified POS or Point of sales device.

Aadhaar is a 12-digit unique identity number provided by UIDAI. Aadhaar ATM is an Automatic trailer machine for banking transactions without ATM card or PIN. It is mentioned by UIDAI (Unique Identification Authority of India).

Aadhaar micro ATMs payment is a new method to provide a complete payment solution where individual’s Aadhaar number is enough to make transactions.

How does micro ATM work with Aadhaar?

Bank assigns a correspondent who signs up customers in remote areas. It is done after verifying their identity like a fingerprint can be used as an authentication mean for rural people. The fingerprint and personal details may also be linked to the Aadhaar Card, which will then serve as the ID proof required to withdraw money.

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Know about Aadhaar micro ATMs
  1. Aadhaar micro ATMs is to perform basic financial transactions using only their Aadhaar number and their fingerprint as identity proof.
  2. Also, the payments done by Aadhaar micro ATMs are authorized by banks, according to UIDAI.
  3. The authentication is via biometric association with the database of UIDAI.
  4. Aadhaar micro ATMs payment solutions are to forward card less and PIN-less banking.
  5. Bank representative carries these POS. So, you get basic banking services at doorsteps.
  6. There is no service charge on this transition process.
  7. Here an operator controls the cash-in / cash-out functions, opposite to normal ATM. Hence, this brings down the cost of the device and the cost of servicing.
  8. The micro ATMs supports basic financial transactions like cash deposit, cash withdrawal, funds transfer and balance inquiry for the bank account holder.
  9. These are suitable for Indian rural areas where the reach of ATMs are less.

The post WHAT ARE MICRO ATMs – BENEFITS, USAGES & FUNCTIONS appeared first on Money Investor.

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Mutual Fund Consolidated Statement is a statement of all your mutual fund’s holdings. In a given period it also shows all your mutual fund transactions. You can get this statement from Karvy or CAMS. But, you must have registered email to your mutual fund to avail this service. The best way to get a complete mutual fund consolidated statement is to register your email address with all your mutual funds.

The Process To Download Mutual Fund Consolidated Statement
  • Go to www.camsonline.com
  • Click on ‘Investor Services’
  • Select ‘Mailback Services’
  • Click on Consolidated Statement – CAMS+Karvy+FTAMIL+SBFS
  • Provide your registered email and its password

After this process, you will get your statement via email. You might need your password to open the statement.

Benefits Of Mutual Fund Consolidated Statement

The Consolidated Statement keeps a record of all your transactions and mutual fund holdings.

Performance Evaluation: You can use it to know when these funds become long term and to evaluate the performance of your funds. Debt funds become long term after a 3 year holding period. But, Equity funds become long term after a 1 year holding period.

Tax Liability: Mutual fund consolidated statement gives you a record of all your transactions. So you can use it to calculate your tax liability. You can also submit a tax saving investment and CAS proof to your employer so they deduct the correct amount of TDS.

Must Read: MUTUAL FUND DEFINITION- WHAT IS MUTUAL FUND?

Details Checking: You can also check your complete details about name, PAN details, account details. Check whether they are correctly mapped to your mutual fund investments. Know that you have been recorded as FATCA compliant or not. It is a procedure required to ascertain your tax residency (Indian or NRI).

Redemptions and Dividends: With the help of CAS you can track all the dividends you have obtained. Also, all the redemptions you have made from mutual funds.

Contents Of Consolidated Statement Information carried by CAS:
  • Transaction-related information and financial purchases like merging or switching of funds, dividend or bonus payments
  • Details regarding new fund offer or reinvestment options
  • Type of investment – whether systematic or lump sum investment plan, Systematic Transfer Plan or Systematic Withdrawal Plan
  • Opening and closing the share unit portfolio balance.
  • Mode of holding units.
  • UCC and ISIN for each scheme and portfolio.

ISIN is an International Securities Identification Number. It is a 12 character code that identifies debt, equity or other securities. It identifies securities for their settlement and trading in the market.

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Why Consolidated Statement Is Important To Investors?

It provides information regarding the condition and financial health of a company. Also, it shows you the condition of the company’s standing in the financial market. So this information can be helpful for investors and vendors.

Further, it reduces paperwork because a single report contains all the financial data.

Investors can know the overall performance of the company.

All investors get their statement on a monthly basis before the 10th.

Therefore with the above discussion, we can say that Consolidated account Statement is necessary for the mutual fund investors. So, with the help of this statement, they can have all the information regarding investment, transactions and details.

The post MUTUAL FUND CONSOLIDATED STATEMENT DOWNLOAD IN FREE? appeared first on Money Investor.

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Mutual fund expense ratio is an annual fund operating expenses. This is the percentage of payable assets to the fund manager. With the help of team analysts and other analysts, the asset manager manages, divide and advertise the fund to manage risks and maximize returns.

What Is The Definition Of Mutual Fund Expense Ratio?

It calculates per unit cost of managing a fund. So it can be calculated by the ratio between the fund’s total expenses and its assets under management. Asset management companies hire qualified professionals to check developments in debt, money markets and equity. Therefore, they also transact accordingly in the asset markets.

Must Read: MUTUAL FUND DEFINITION- WHAT IS MUTUAL FUND?

What Are The Components Of Expense Ratio?

For running the mutual fund scheme expense Ratio includes many charges in a smooth way. They recover this expense from the mutual fund investors on a day-to-day basis. Hence in every six months, they disclose it to the investors.

There are 3 main kinds of expenses as a part of the Expense Ratio:
  1. Management fees

Mutual funds need formulation of investment plans before actually investing money in the underlying assets. Further,  Fund managers require possessing a high level of educational, relevant fund management professional credentials and experience. Investment advisory fee or management fee is compensation for these managers’ expertise. This annual fee is about 0.50% – 1.0% of the funds on average assets.

  1. Administrative costs

These are the expenses of running the fund. Hence,  this would include customer support, record keeping, communications and information emails. They can be different and can be shown as a percentage of fund assets.

  1. 12-1b Distribution Fees

Many mutual funds collect the 12-1b distribution fee for promotional and advertising purposes. Usually, they promote the fund to the investors and charge their shareholders to market.

Mutual Fund Expense Ratio Implications

Mutual fund expense ratio indicates the percentage of sales to the total of a group of expenses or individual expense. So a higher ratio means less profitability. Also, a lower ratio means more profitability. So, you may use the expense ratio to differentiate between passively managed and actively managed funds.

Comparative Analysis Of Expense Ratios

In the selection of mutual funds expense ratio can be an important criterion because it impacts the overall returns a unitholder can earn.

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Here are the analysis and comparison of the funds

Name Of Mutual Fund Type Of Mutual Fund Expense Ratio
Axis Long Term Equity ELSS 1.97%
Edelweiss Tax Advantage ELSS 2.68%
SBI Small And Mid Cap Small and Midcap 2.28%
Reliance Small Cap Small cap 2%
HDFC Growth Direct Large-cap 1.61%

Hence we can clearly see that expense ratio is important but it is not only criteria when you are selecting a mutual fund scheme.

Therefore high mutual fund expense ratio impacts the fund returns. If the funds are managed in a truculent manner then the high returns can be an outcome of high expense ratio. It is due to the choice of good stocks and investments in the asset.

The post MUTUAL FUND EXPENSE RATIO – DEFINITION AND DETAILS? appeared first on Money Investor.

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