savings bank account | wealthymatters

Planning to Retire This Year? Here is How You Should Prepare for the Next Tax Season

January 29, 2018 Leave a comment

wealthymatters It is crucial to invest your retirement corpus diligently. Before you make your investment decisions, evaluating and analyzing different options is beneficial. You do not want to speculate your retirement corpus. You may prefer earning slightly lower returns for the security of your funds.

Your primary objective is to generate fixed income through your limited savings. The first step is to collect all your funds from instruments, such as gratuity, Public Provident Fund (PPF), savings bank accounts, equities, fixed deposits (FDs), and insurance. Read more of this post

Filed under Tool Kit Tagged with best tax-saving options, capital safety, DDT, dividend distribution tax, EEE - excempt excempt excempt investment, ELSS, equities, equity-based balanced mutual funds, Equity-Linked Saving Schemes, Fixed Deposits, gratuity, how to invest your retirement corpus, Inflation, Insurance, life expectancy, MF-MIP, monthly post retirement expenses, mutual fund MIP, Mutual Funds, POMIS, Post Office Monthly Income Schemes, postaday, PPF, Public Providend Fund, retirement investment options, savings account, savings bank account, SCSS, Senior Citizen Savings Scheme, tax free retirement investment options, tax saving mutual funds

The One Address Proof Norm

October 17, 2014 Leave a comment

wealthymatters The RBI has now issued clear instructions to banks regarding the requirement of one proof of address whether permanent or current to open a bank account.

So if any banker still insists on submission of a proof of address for the current address even when you produce a proof of permanent address, you know that you can put him on the mat. Just escalate your complaint.

Now opening an account in a place you have gone to study in, work in, stay with relatives or where you own a business in, have property in etc.becomes easy.

Just be sure to hold bankers accountable.

Filed under Paper Assets, Tool Kit Tagged with address proof, One Address Proof Norm, postaday, savings bank account

Alternatives For Cash

December 22, 2012 Leave a comment

wealthymatters.com

Filed under Paper Assets Tagged with alternatives for cash, cash at hand, flexi accounts, FMPs, Inflation, liquid funds, liquidity, overdraft facility, postaday, rate of return, savings bank account, short term debt funds, short term funds, short term investments

Savings Bank Account Ownership

December 21, 2012 Leave a comment

Filed under Paper Assets Tagged with postaday, savings bank account, savings bank account ownership

The Nuances of Liquid and Liquid Plus Funds

July 10, 2011 1 Comment

Mutual fund schemes known as liquid funds /money market funds/cash funds and ultra short-term bond funds/liquid plus funds are options for parking funds for the short term.They allow for a high degree of liquidity.They are alternatives to keeping money in a savings bank account or a short term bank fixed deposit.

Liquid funds invest in money market instruments of residual maturity up to 91 days.Liquid funds have the lowest volatility in returns among all categories of mutual funds because there is there is no mark-to-market (MTM) valuation of the portfolio on a daily basis unless there is a trade in the secondary market in the underlying security .Practically there is no trade in money-market instruments and valuation of daily NAV happens on an accrual basis, i.e., by adding the coupon accrued for the day without any mark-to-market impact. Read more of this post