Where should I make investments?

Mohit said:
4. I am also thinking of starting a monthly SIP but I don't know which one to go for. Please advise here. Thanks.
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Am not sure as to which bank provides good SIP's, as an SIP involves investment of your money in various funds and bonds and is managed by the fund manager.
You can also buy funds on your own,depending on your knowledge on profit/loss of the funds.
The process actually involves buying of NAV's(Net Asset value),which indirectly is invested in various funds like equity and debt.
The risk is diversified by the fund manager who invests it in multiple funds.
Ultimately the profit obtained is definitely more than fixed and recurring deposits.
 
sabby said:
medpal Does it really matter which do we choose for PPF ?
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Nope it does not matter which bank or post office we choose for PPF. Banks may have additional facility of online deposits, while POst Office does not have that.
Select which ever is near to your place and convenient one.
 
medpal said:
Nope it does not matter which bank or post office we choose for PPF. Banks may have additional facility of online deposits, while POst Office does not have that.
Select which ever is near to your place and convenient one.
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Just one point(my personal thinking) if possible avoid PO.

I have read cases where the PPF owners account matured or its heir had trouble getting matured sum because of government official 'bribe-me' attitude.

Though it got cleared once RTI name comes in picture.
If online checking and transferred is allowed than do go PO.

Also ICICI allows PPF now but you need o visit a particular branch in your city once to open than do online transfers.
 
I just calculated this if we keep it as fixed deposit in a bank and as per inflation I have just taken 8% interest and investment is just 1 time only and not every year. You just keep rolling your money each and every year after earning the interest

Investment Rate of Interest Interest amt Total Amount each Yr
100000 8 8000 108000
108000 8 8640 116640
116640 8 9331.2 125971.2
125971.2 8 10077.696 136048.896
136048.9 8 10883.912 146932.812
146932.8 8 11754.624 158687.424
158687.4 8 12694.992 171382.392
171382.4 8 13710.592 185092.992
185093 8 14807.44 199900.44
199900.4 8 15992.032 215892.432
215892.4 8 17271.392 233163.792
233163.8 8 18653.104 251816.904
251816.9 8 20145.352 271962.252
271962.3 8 21756.984 293719.284
293719.3 8 23497.544 317216.844
 
John4321 said:
I just calculated this if we keep it as fixed deposit in a bank and as per inflation I have just taken 8% interest and investment is just 1 time only and not every year. You just keep rolling your money each and every year after earning the interest

Investment Rate of Interest Interest amt Total Amount each Yr
100000 8 8000 108000
108000 8 8640 116640
116640 8 9331.2 125971.2
125971.2 8 10077.696 136048.896
136048.9 8 10883.912 146932.812
146932.8 8 11754.624 158687.424
158687.4 8 12694.992 171382.392
171382.4 8 13710.592 185092.992
185093 8 14807.44 199900.44
199900.4 8 15992.032 215892.432
215892.4 8 17271.392 233163.792
233163.8 8 18653.104 251816.904
251816.9 8 20145.352 271962.252
271962.3 8 21756.984 293719.284
293719.3 8 23497.544 317216.844
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Interest on fixed deposit is subjected to income tax on bracket of slab you fall on.

Interest of PPF is tax free.
 
MAGNeT said:
Also ICICI allows PPF now but you need o visit a particular branch in your city once to open than do online transfers.
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You need not visit the PPF branch in your city, you can submit the documents at any ICICI branch and they will forward the documents to the main branch. I submitted the docs in a Bangalore branch and got the account the account opened in the Kochi branch.
 
Vince said:
@varkey: You also had to physically present yourself at the bangalore i presume?
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Yes, had to visit the branch. I just printed the form from their net banking portal, signed it and submitted along with proof of identity and address (you need to submit the proofs again even if everything is current with respect to your savings account)

They were a bit reluctant to open the account in Kochi as I was submitting the docs in Bangalore, but finally they agreed after checking with the Kochi branch. But it took about 10 days for the account to be set up as they had to courier the documents to Kochi before it could be processed.

One other thing, anything related to PPF is done only by the concerned branch. Even the CC is not aware of anything in detail and asked me to contact the specific branch.
 
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varkey said:
Yes, had to visit the branch. I just printed the form from their net banking portal, signed it and submitted along with proof of identity and address (you need to submit the proofs again even if everything is current with respect to your savings account)

They were a bit reluctant to open the account in Kochi as I was submitting the docs in Bangalore, but finally they agreed after checking with the Kochi branch. But it took about 10 days for the account to be set up as they had to courier the documents to Kochi before it could be processed.

One other thing, anything related to PPF is done only by the concerned branch. Even the CC is not aware of anything in detail and asked me to contact the specific branch.
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I must say you might are lucky.Here they follow strict policy.
 
Sorry for bumping old thread.

Can anyone suggest some risk free investment options ? My dad currently invests the money in different banks as FD on around 9.5% (senior citizen) for 390 days or so. Basically I am interested in earning from the savings.
Shares is an option but it is full of risks and also I am not much into shares (although I do own some), and even if I have shares them I just buy and keep, no daily trading or anything.

What other options do I have to generate income from savings which would otherwise lye dormant in bank account.
 
alekhkhanna said:
^^ National Savings Certificates is what I'm investing right now. Also new demat account holders can invest in RGESS.
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How much does one get in the NSC ? And what is the time period of investment ? Basically i am asking if i can get more than i am getting now ? Which is 9.5% for 390 days.
 
raksrules said:
Sorry for bumping old thread.

Can anyone suggest some risk free investment options ? My dad currently invests the money in different banks as FD on around 9.5% (senior citizen) for 390 days or so. Basically I am interested in earning from the savings.
Shares is an option but it is full of risks and also I am not much into shares (although I do own some), and even if I have shares them I just buy and keep, no daily trading or anything.

What other options do I have to generate income from savings which would otherwise lye dormant in bank account.
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You already investing in best risk free option.
Which banks are the fixed deposits are in?I mean are those in some co-operative bank or so?

NSC gives low interest around 8.6% something.But thats a good option for tax saving purpose.
Other option is too look for debt funds and gilt funds(liquid funds).They will be better option rather than shares.

But the least risk investment is fixed deposits.But mind you co-operative banks are a bit dicey stuff.
 
raksrules said:
@MAGNeT

Risky in the sense ? If the bank shut downs or what ?
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Yes Co-operative one especially.

Co-Operative banks are not strictly following KYC and hence RBI are going strict after them.

You Never know when some of them go dud.

I myself have my families fixed deposits worth 10L with them and maturing as late as November 2014.But i am deciding to move the money in private bank and see for some liquid MF option rather than risk principal.


http://www.moneylife.in/article/whi...-chit-to-money-laundering-by-banks/32469.html
 
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The banks where i know Dad would have put money are probably ICICI, Corporation and may be Dena Bank (unsure about this...will ask).
 
raksrules said:
The banks where i know Dad would have put money are probably ICICI, Corporation and may be Dena Bank (unsure about this...will ask).
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ICICI is a private private banks and Cooperation and dena is government supported(nationalised).Its safe.

Example of co--operative banks are Tamilnad,Abhyudaya,bombay mercantile ,PMC ,Bharat ,etc.
 
@MAGNeT

I am very reluctant in putting my money in such not so known banks. We have been saved from losing like 50K some years ago when i had just collected the FD money from ABAD Bank (Ahmedabad something) and the next day the bank had packed its bags.
 
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