Interest Rates On Govt. Schemes Have Been Cut

Finally some good news that I have been waiting for. The interest rates for the governments schemes have come down. Just in yesterday’s post I have been complaining about the high interest rates of many of these schemes have been the barrier for the rate cut transmissions. I am not particularly happy about the rate cut because it does not really help. The banks rarely cut the lending rates because they still have to honor the FDs which are fixed at the previous interest rate for a fixed duration. Moreover the FD rates are quite high compared to the repo … Continue reading “Interest Rates On Govt. Schemes Have Been Cut”

Form 15G and 15H

It is the start of the financial year and now is a good time to figure out if you need to submit form 15G or 15H. For most individuals, this probably does not apply, but it may be applicable for your parents or if you or your spouse have a nil tax liability. In this post, lets go over when, why, where, who and how one can submit form 15G/15H. Why submit Form 15 If you have large savings lying in your bank which accrues interest, or invested in Fixed Deposits (FDs), or have invested in other fixed income plans … Continue reading “Form 15G and 15H”

Debt Funds vs Fixed Deposits

If you ask someone whether Fixed Deposits are better or Debt funds are better, more likely than not, you will hear a biased answer towards either of them. Some swear by FDs and their safety, while others say debt funds always give better returns than FDs. Lets bust some myths and try to get an understanding of how these two types of investments work. Before going any further, if you are eligible for Senior Citizen Saving Scheme (SCSS), then I would say that is the best fixed asset option for you, if your investment is less than Rs. 15 lakhs. … Continue reading “Debt Funds vs Fixed Deposits”