Money For Investment

Tax saving FDs offered by banks in India are good option for someone looking to save tax under Sec 80 C without taking any risk that is inherent in equity exposure that ELSS offers. So, if you are one of those conservative investors who want to save tax via FDs , then it would be pertinent to know which banks are offering you the best deal currently.  Following are the 5 best Tax saving FDs that are being currently on offer ( as on Sept 11).  Rank   Bank                                Rate On Int.(p.a.)  Rs 10000 will grow   1.   Tamilnad Mercantile Bank    10%                             Rs16386.  2.    City Union Bank                   9.75%           ...

There have been times , when we have been faced with situation of transferring money from bank account to another account without visiting bank branch. One can do cash transactions via netbanking if one doesnt want to visit the branch or the branch timings are over. But what if we in a place where internet isnt available and we need to transfer cash immediately . Relax, we have a solution now. Resereve Bank Of India has now allowed cash transaction upto Rs 50000 from mobile phones . To do so , we need to follow the following steps:- 1. Register with the bank for interbank Mobile Payment Service (IMPS). 2. Download the application on the mobile phone. 3. Log in to the application 4. Select bank account from which funds are to be transferred. 5. Select mobile money transfer service. 6. Enter 10 digit mobile number, 7 digit MMID and desired amount to be transferred. 7. Confirm all the details. 8. Done. You will recieve sms confirming the same. PROS OF THE FACILITY 1. Another p...

"The desire for gold is the most universal and deeply rooted commercial instinct of the human race." Gerald M. Loeb The above mentioned adage perfectly sums up the love investors have showered on the precious metal since times immemorial. This metal has retained its numero uno pisition as the "Metal of choice" over centuries. So what really makes this metal so desirable inspite of its very limited medicinal or industrial usage? Following are just the few of many reasons responsible for the same : 1. Its widespread use in Jewellery - It has always been used a metal of choice when it comes to Jewellery. In India, for instance, most of the gold demand is on account on Jewellery .This demand for gold jewellery has made India one of the leading countries as far as gold consumption is concerned. 2. It was used as Currency - Gold emerged as a major currency very early during human civilization where kings across continents used gold coins as currency in their respe...

We all use our cheque leaves while making payments to various parties/paying bills etc , but, have we ever wondered what all can go wrong with these cheque leaves? There have been numerous cases of fraud , where the modus operandi has been misuse of the cheque leaf. Hence it is imperative to know ,first, what all can go wrong and then what safeguards to take with your cheque leaves. What Can Go Wrong? 1. Cheque can be misused - Lot of fraudsters tamper with the cheque which one writes by adding a name of account number , making alteration, adding digits etc and then countersigning on it. This way they loot the unsuspecting guy , his hard earned money. 2. Cheque can be assigned - Since cheques are negotiable instruments , it can be assigned from one person to another and as such , one can simply cut the beneficiary name and assign the cheque in ones own name and then bank it with his own banker. This was he wont have to forge the drawers signature. He simply will have to sign for the...