Indians are everywhere. Yet they will remain as Indians, wherever they go. Here are some of the things that Indians think and do...
1) Men expects their wife to be a virgin at the time of marriage.
Isn't it a contrary, coz when God made men and women, He made sure that each one seduces another! A man, it is said, dreams of his girlfriend in bed. Yet Indians want their wife, to whom he marries to be a virgin.
2) Even before one buys a thing, he is concerned about the resale value.
Be it a scooter or a car, a flat or a computer; when one buys a product he calculates the resale value of the product 4/5 years down the line. People used to buy Bajaj Chetak instead of motorcycles because Chetak was seling like hot buns.
3) There is no thought of giveaway. Even though his things might rot in the cellar, we will sell it at a lower price or throw it away in a dustbin.
People in the West, whenever they move homes either giveaway their things which would o onger be needed or sell it at a low price sale. They are not concerned about how much he will earn back from the resale, he is concerned about the problems in transporting them. In India, you will find few people who donate or give away things like that. Even if one donates things, he will make it big, to let others know about it - kind show off.
4) They ensure that they get maximum of anything
Any customer would want to get the maximum benefit of his money. However Indians are one more step ahead, they bargain for the lowest price for the best product also.
5) If there is a FREE tag, they are reluctant to buy that thing than another without the tag
The word FREE or Discounts attracts Indian customers to maximum. Indians wait for a particular time/season to come to buy things at Discounted price rather than buy it when the product is hot. This however is changing with time, but still the mentality remains.
6) There is no idea of pooling. Most of them are willing to show it off that he owns it rather than share.
Indians like to show off of what he posses, be it a mobile, a laptop, car or anything. People like to leave an impression when they pass by. Just for the sake of the show off, people buy things.
7) Indians compare all the time
We people like to compare things all the time. His son is this and that, he has a benz, i have this and that etc. Apart rom comparisons, people just like to brag.
8) Jaanta hai mera baap kaun hai?
This is a very common word in India. People like to bring our the commons, their relationship or connections with high raking people in the society to feel the importance in the society.
9) Going by the looks
A majority of the Indians are uneducated, and do not possess the knowledge to decide. Most of them go by the looks of the other person. A person if dressed in his best dresses will be entertained, though he may be a crak in the head and broke. None likes a person who would come in dull coloured clothes and do not mingle. even though he may be someone in the society.
10) The costliest product ought to be the best
This is the most common thought of an Indian. No matter if the price tag falls in his range or not, he will try to get it.
Note: The comments made above does not apply to any particluar person and made in general.
11 Mar 2009
10 Mar 2009
Time - another season in life
When was the last time you enthusiastically waited to break your piggy bank to spend it on colours and new dresses for holi? When was the last time I waited for it to come? I guess its been more than 10 years now since i have celebrated holi at home. There was something in the air, you just come to know that its around the corner....children buying chunnis and new dresses for the festival, parents smiling, everyone seeming so colourful and the bazaars vibrant in different colours.
But i do not have the same enthusiasm left as it was years ago. I just know what is coming up and then i guess it just get me time for myself. Be it any festival, i have no enthusiasm left for anything...maybe coz its not the time to receive but give away things in life. Life indeed can be strange at times. I could not believe to remember those days where i used to fret and cry over buying a dress of my choice, a new toy to play with, a new bit of this and a new bit of that.
Maybe festivals are for the younger ones to celebrate and the elders to give away. And now that i am getting older day by day, i begin to realize that i am at the giving end and not receiving end now.
Festivals- like another season in life comes and go. You can tell a season from the change around you, the people, the places, the trees, a sniff of the changing wind....ah life can be so dramatic! Seasons change, so does time and people around. I hope people do remember those moments of changes and not just change for the sake of it. The transformation is in fact the interesting part, only if you get time to reminisce it! For some people who do not have time to celebrate this transformation, maybe either remembering them or not finding time to do either of them. I guess i am glad to be at that stage where i can distinguish if i am enthusiastic to celebrate or busy remembering the past, rather than not getting time to do either.
I guess i am not making sense. But i know that someday when i read this very blog, i will remember this day. Just like another season that comes, i will remember this time, this moment, a always.
But i do not have the same enthusiasm left as it was years ago. I just know what is coming up and then i guess it just get me time for myself. Be it any festival, i have no enthusiasm left for anything...maybe coz its not the time to receive but give away things in life. Life indeed can be strange at times. I could not believe to remember those days where i used to fret and cry over buying a dress of my choice, a new toy to play with, a new bit of this and a new bit of that.
Maybe festivals are for the younger ones to celebrate and the elders to give away. And now that i am getting older day by day, i begin to realize that i am at the giving end and not receiving end now.
Festivals- like another season in life comes and go. You can tell a season from the change around you, the people, the places, the trees, a sniff of the changing wind....ah life can be so dramatic! Seasons change, so does time and people around. I hope people do remember those moments of changes and not just change for the sake of it. The transformation is in fact the interesting part, only if you get time to reminisce it! For some people who do not have time to celebrate this transformation, maybe either remembering them or not finding time to do either of them. I guess i am glad to be at that stage where i can distinguish if i am enthusiastic to celebrate or busy remembering the past, rather than not getting time to do either.
I guess i am not making sense. But i know that someday when i read this very blog, i will remember this day. Just like another season that comes, i will remember this time, this moment, a always.
10 Feb 2009
Gifts exempt TAX,so start Gifting
Gift of any amount received is exempt from TAX if received
1. From Relatives or ,
2. On the occasion of marriage or,
3. Under a WILL or,
4. By way of inheritance or,
5.In contemplation of Death.
6.From any local authority 7
7.From any fund or foundation or university or other educational institution or hospital or other medical institution or any trust or institution referred to in clause (23C) of section 10; or
8. from any trust or institution registered under section 12AA.
In all other cases, gift above Rs 25000 received from any person other than list of persons given above is taxable. However, from Asst Year 2007-08 ,it has been provided that receipt of gift exceeding Rs 50,000 in aggregate is taxable.Meaning thereby , a person can receive maximum Rs 50000 from one unrelated person and total receipt of gift in a year from all person can not exceed Rs 50,000.
Whether Rs 50,000 will be deducted while computing taxable income out of gift?
No, even if the gift amount in aggregate exceeds by Rs one , the whole of amount becomes taxable and not Rs one.For example if Mr X receive RS 25000 each from Mr A , Mr B and Mr C . The total amount is Rs 75,000. Therefore from Asst Year 2007-08, tax free gift is only upto Rs 50,000 in aggregate . Mr X has to add in his taxable income Rs 75000 (75000- 50000)
So who are Relatives ?
1. Your spouse
2. Your brother or sister
3. Your spouse's brother or sister
4. Your parents' brother or sister
5. Your lineal ascendants or descendants
6. Your spouse's ascendants or descendants
7. Spouse of persons named in 2 to 6 above.
Follow these principal before accepting gifts ?
Remember, law is well settled that the donee has to prove Identification,genuineness of transaction and capacity of the donor
1. Always take gift by cheque or draft .
2.Get a gift deed mentioning the relationship.Its always better to mention PAN number of the Donor in the gift deed.
3.Its better if the donors' return , P &L account and balance sheet , if available , should also be kept ready .In case required , it should be submitted to A.O.
If you do that, gift can be enjoyed without any botheration in future.
Courtesy:
http://www.taxworry.com/
1. From Relatives or ,
2. On the occasion of marriage or,
3. Under a WILL or,
4. By way of inheritance or,
5.In contemplation of Death.
6.From any local authority 7
7.From any fund or foundation or university or other educational institution or hospital or other medical institution or any trust or institution referred to in clause (23C) of section 10; or
8. from any trust or institution registered under section 12AA.
In all other cases, gift above Rs 25000 received from any person other than list of persons given above is taxable. However, from Asst Year 2007-08 ,it has been provided that receipt of gift exceeding Rs 50,000 in aggregate is taxable.Meaning thereby , a person can receive maximum Rs 50000 from one unrelated person and total receipt of gift in a year from all person can not exceed Rs 50,000.
Whether Rs 50,000 will be deducted while computing taxable income out of gift?
No, even if the gift amount in aggregate exceeds by Rs one , the whole of amount becomes taxable and not Rs one.For example if Mr X receive RS 25000 each from Mr A , Mr B and Mr C . The total amount is Rs 75,000. Therefore from Asst Year 2007-08, tax free gift is only upto Rs 50,000 in aggregate . Mr X has to add in his taxable income Rs 75000 (75000- 50000)
So who are Relatives ?
1. Your spouse
2. Your brother or sister
3. Your spouse's brother or sister
4. Your parents' brother or sister
5. Your lineal ascendants or descendants
6. Your spouse's ascendants or descendants
7. Spouse of persons named in 2 to 6 above.
Follow these principal before accepting gifts ?
Remember, law is well settled that the donee has to prove Identification,genuineness of transaction and capacity of the donor
1. Always take gift by cheque or draft .
2.Get a gift deed mentioning the relationship.Its always better to mention PAN number of the Donor in the gift deed.
3.Its better if the donors' return , P &L account and balance sheet , if available , should also be kept ready .In case required , it should be submitted to A.O.
If you do that, gift can be enjoyed without any botheration in future.
Courtesy:
http://www.taxworry.com/
Gifts exempt TAX,so start Gifting
Gift of any amount received is exempt from TAX if received
1. From Relatives or ,
2. On the occasion of marriage or,
3. Under a WILL or,
4. By way of inheritance or,
5.In contemplation of Death.
6.From any local authority 7
7.From any fund or foundation or university or other educational institution or hospital or other medical institution or any trust or institution referred to in clause (23C) of section 10; or
8. from any trust or institution registered under section 12AA.
In all other cases, gift above Rs 25000 received from any person other than list of persons given above is taxable. However, from Asst Year 2007-08 ,it has been provided that receipt of gift exceeding Rs 50,000 in aggregate is taxable.Meaning thereby , a person can receive maximum Rs 50000 from one unrelated person and total receipt of gift in a year from all person can not exceed Rs 50,000.
Whether Rs 50,000 will be deducted while computing taxable income out of gift?
No, even if the gift amount in aggregate exceeds by Rs one , the whole of amount becomes taxable and not Rs one.For example if Mr X receive RS 25000 each from Mr A , Mr B and Mr C . The total amount is Rs 75,000. Therefore from Asst Year 2007-08, tax free gift is only upto Rs 50,000 in aggregate . Mr X has to add in his taxable income Rs 75000 (75000- 50000)
So who are Relatives ?
1. Your spouse
2. Your brother or sister
3. Your spouse's brother or sister
4. Your parents' brother or sister
5. Your lineal ascendants or descendants
6. Your spouse's ascendants or descendants
7. Spouse of persons named in 2 to 6 above.
Follow these principal before accepting gifts ?
Remember, law is well settled that the donee has to prove Identification,genuineness of transaction and capacity of the donor
1. Always take gift by cheque or draft .
2.Get a gift deed mentioning the relationship.Its always better to mention PAN number of the Donor in the gift deed.
3.Its better if the donors' return , P &L account and balance sheet , if available , should also be kept ready .In case required , it should be submitted to A.O.
If you do that, gift can be enjoyed without any botheration in future.
Courtesy:
http://www.taxworry.com/
1. From Relatives or ,
2. On the occasion of marriage or,
3. Under a WILL or,
4. By way of inheritance or,
5.In contemplation of Death.
6.From any local authority 7
7.From any fund or foundation or university or other educational institution or hospital or other medical institution or any trust or institution referred to in clause (23C) of section 10; or
8. from any trust or institution registered under section 12AA.
In all other cases, gift above Rs 25000 received from any person other than list of persons given above is taxable. However, from Asst Year 2007-08 ,it has been provided that receipt of gift exceeding Rs 50,000 in aggregate is taxable.Meaning thereby , a person can receive maximum Rs 50000 from one unrelated person and total receipt of gift in a year from all person can not exceed Rs 50,000.
Whether Rs 50,000 will be deducted while computing taxable income out of gift?
No, even if the gift amount in aggregate exceeds by Rs one , the whole of amount becomes taxable and not Rs one.For example if Mr X receive RS 25000 each from Mr A , Mr B and Mr C . The total amount is Rs 75,000. Therefore from Asst Year 2007-08, tax free gift is only upto Rs 50,000 in aggregate . Mr X has to add in his taxable income Rs 75000 (75000- 50000)
So who are Relatives ?
1. Your spouse
2. Your brother or sister
3. Your spouse's brother or sister
4. Your parents' brother or sister
5. Your lineal ascendants or descendants
6. Your spouse's ascendants or descendants
7. Spouse of persons named in 2 to 6 above.
Follow these principal before accepting gifts ?
Remember, law is well settled that the donee has to prove Identification,genuineness of transaction and capacity of the donor
1. Always take gift by cheque or draft .
2.Get a gift deed mentioning the relationship.Its always better to mention PAN number of the Donor in the gift deed.
3.Its better if the donors' return , P &L account and balance sheet , if available , should also be kept ready .In case required , it should be submitted to A.O.
If you do that, gift can be enjoyed without any botheration in future.
Courtesy:
http://www.taxworry.com/
25 Jan 2009
Windows and me- an enduring relationship
Ever since i was a child, i have been dismantling things that seem nice due to my curious nature.There was not a single mechanical toy or watch that has not stopped working due to that. My love for computers started that time when in the early 80's i heard stories from elders , who refer it as "magic box" that have answers to everything! Being from a corner on India, where there is lack of everything - from human rights to water, life has not been easy for me to pursue my dream of my relationship with computers. With my education, i had learnt GWBASIC(BASIC - Beginners All purpose Symbolic Instruction Code) and we used to run on DOS with large floppy disks. It looked like building blocks on the screen with line numbers.
GWBASIC - command line interpreter
What is an interpreter?
- Well an interpreter in simple language is nothing but is program (midleman) that interprets commans given by humans into their own understandbale language called machine language. A command line interpreter is nothing but an interpreter that reads the human instruction line by line and not all at a once.Are you wondering if computers talk to each other in their own language? They do; in a network... well but at least they do not conspire to hurt a human!! Remember Matrix movie? (Thanks Anand for reminding about the GWBASIC).
BBC Computer
Imagine everything in GREY coloured text, mostly because of th Black and white screen we had at that time. Colored monitors were not even heard of, forget seeing it! The Black BBC computer was like a God that time.
Floppy drive (with a dropping head)
Early Windows with GUI
Then Windows Millennium came, yet i still preferred Windows 98.
That was a time when all people were running for the latest version of Windows and i was still hanging on with my old version, out of love and respect for the time i spent fidgeting and dismantling it all over!Over the times,many OS came yet the hands on experience that Windows provided at such a time when there was no GUI was un comparable with others.Many people have different views and reviews about Windows various versions,no matter what reviews they give - users can tell the difference. The version is an unending story, Windows XP, Vista and now Windows 9... the era will go on, the version will keep on changing. However the experience that i have shared with Windows is worth treasuring
Image courtesy:
Windows 3.0 www.intelliadmin.com
BBC Computer www.rakewell.com
Floppy drive http://technabob.com
GWBASIC http://g.virbcdn.com
Windows http://www.granneman.com/
Floppy disk www.blogitude.com
GWBASIC - command line interpreterWhat is an interpreter?
- Well an interpreter in simple language is nothing but is program (midleman) that interprets commans given by humans into their own understandbale language called machine language. A command line interpreter is nothing but an interpreter that reads the human instruction line by line and not all at a once.Are you wondering if computers talk to each other in their own language? They do; in a network... well but at least they do not conspire to hurt a human!! Remember Matrix movie? (Thanks Anand for reminding about the GWBASIC).
BBC Computer
I still miss the sound of the Computer whining as it reads the system files while booting from the floppy disks. All the computers that time did not have the idea of hard disk as we call today for storing the System files needed to boot,everything was hard coded in a large 5.25' Floppy disk with a large hole in the middle. 
5.25' Floppy Disk
5.25' Floppy DiskFloppy drive (with a dropping head)After inserting the floppy disk, we have to turn down the tab on the floppy drive for the overhead head to read the contents of the floppy disk. Imagine 512 KBs only on the whole 5.25' floppy disk, as compared to today's mini USB drives!! If the floppy do not work, the computer cannot be started up!! And we had to run all commands line by line and not like as todays compiler does in a go, no GUI interface that time.Soon when Microsoft Windows came,life became easier.
Early Windows with GUIAs i did not have any PC of my own that time, i use to frequently visit my rich friends home to have a view of Windows and lay my hands on it. I wondered how Microsoft people managed to put all those thousands of codes away,we use to type while booting a PC as we used to do in DOS? PC whine lesser than it did when we ran DOS, and the most beautiful part was that it had DOS in it in the form of CMD. After computers, i fell in live with some girl...dragged on for few months..life felt like hell.
Still my relationship with Windows and PC (a term which came much later on, earlier we refered it as Computers only) ligered on. From DOS to Windows, from X286 to X386 then X486 machines and now..multi core machines.The transformation from the first version of Windows to Windows 98 was tremendous one, which till this date i feel indebted to Microsoft. Windows 98 is an amazing OS till now,with all customizations as per your wish. In fact, when i had bought the first PC in my life in Engineering days, with loan from my Junior, it was Windows 98 that i installed and kept fidgeting about. Thanks to that, i know the OS well now(though not inside out but to a manageable extent). When Windows launched Server and Enterprise Editions, i wished i could lay my hands on that to check out the OS inside out.At that time of my life, Server was a lingo ..some HI-FI stuff.Then Windows Millennium came, yet i still preferred Windows 98.
That was a time when all people were running for the latest version of Windows and i was still hanging on with my old version, out of love and respect for the time i spent fidgeting and dismantling it all over!Over the times,many OS came yet the hands on experience that Windows provided at such a time when there was no GUI was un comparable with others.Many people have different views and reviews about Windows various versions,no matter what reviews they give - users can tell the difference. The version is an unending story, Windows XP, Vista and now Windows 9... the era will go on, the version will keep on changing. However the experience that i have shared with Windows is worth treasuring
Image courtesy:
Windows 3.0 www.intelliadmin.com
BBC Computer www.rakewell.com
Floppy drive http://technabob.com
GWBASIC http://g.virbcdn.com
Windows http://www.granneman.com/
Floppy disk www.blogitude.com
Historical experience of Personal Computer -Part 1
Ever since i was a child, i have been dismantling things that seem nice due to my curious nature.There was not a single mechanical toy or watch that has not stopped working due to that. My love for computers started that time when in the early 80's i heard stories from elders , who refer it as "magic box" that have answers to everything!
Note: This post was written long back in 25th Jan 2009, but publishing it today only. Shall update soon.
Note: This post was written long back in 25th Jan 2009, but publishing it today only. Shall update soon.
3 Jan 2009
Recording Gtalk voice conversations
If someone ask me if it is possible to record and save the live voice stream of a chat partner on Gtalk. The answer is: yes, (and i came to know it recently). All you have to do is download Freebird's vEmotion with recorder, an excellent program to record an IM conversations. It is reporetd to be able to voice conversations on Msn, Skype, Gtalk, AIM .
Here is a screenshot image I have gotten from their website..
Install the program and start it up. In the user interface displayed in the above image, press down the last button on the toolbar to enable recording. Then start a voice conversation with your friends. The converation is recorded automatically. As you finish the converation, following window is displayed. It allows you to fill some infos for this new record.
In the above window, enter a topic for the new record, which will be displayed in the record list. And type anything you want to say about the conversation as "Comments". Also you can select more than one image to be stored together with the voice. One most exciting thisng is that by selecting a different audio frequency from the pull-down box which located directly beneath the text "Change Frequency", you can save the recorded voice with prefered frequency. After you are done with all of these, click the button "Save Record".
After the record is saved, one new item will be added into the record list in the user interface. Switch to "Call Records" window by clicking the tab. In the call record list, the newly recorded lies there.
Enjoy then playing around eh!!
Courtesy: Freebird's vEmotion
Here is a screenshot image I have gotten from their website..
Install the program and start it up. In the user interface displayed in the above image, press down the last button on the toolbar to enable recording. Then start a voice conversation with your friends. The converation is recorded automatically. As you finish the converation, following window is displayed. It allows you to fill some infos for this new record.
In the above window, enter a topic for the new record, which will be displayed in the record list. And type anything you want to say about the conversation as "Comments". Also you can select more than one image to be stored together with the voice. One most exciting thisng is that by selecting a different audio frequency from the pull-down box which located directly beneath the text "Change Frequency", you can save the recorded voice with prefered frequency. After you are done with all of these, click the button "Save Record".
After the record is saved, one new item will be added into the record list in the user interface. Switch to "Call Records" window by clicking the tab. In the call record list, the newly recorded lies there.
Enjoy then playing around eh!!
Courtesy: Freebird's vEmotion
Recording Gtalk voice conversations
If someone ask me if it is possible to record and save the live voice stream of a chat partner on Gtalk. The answer is: yes, (and i came to know it recently). All you have to do is download Freebird's vEmotion with recorder, an excellent program to record an IM conversations. It is reporetd to be able to voice conversations on Msn, Skype, Gtalk, AIM .
Here is a screenshot image I have gotten from their website..
Install the program and start it up. In the user interface displayed in the above image, press down the last button on the toolbar to enable recording. Then start a voice conversation with your friends. The converation is recorded automatically. As you finish the converation, following window is displayed. It allows you to fill some infos for this new record.
In the above window, enter a topic for the new record, which will be displayed in the record list. And type anything you want to say about the conversation as "Comments". Also you can select more than one image to be stored together with the voice. One most exciting thisng is that by selecting a different audio frequency from the pull-down box which located directly beneath the text "Change Frequency", you can save the recorded voice with prefered frequency. After you are done with all of these, click the button "Save Record".
After the record is saved, one new item will be added into the record list in the user interface. Switch to "Call Records" window by clicking the tab. In the call record list, the newly recorded lies there.
Enjoy then playing around eh!!
Courtesy: Freebird's vEmotion
Here is a screenshot image I have gotten from their website..
Install the program and start it up. In the user interface displayed in the above image, press down the last button on the toolbar to enable recording. Then start a voice conversation with your friends. The converation is recorded automatically. As you finish the converation, following window is displayed. It allows you to fill some infos for this new record.
In the above window, enter a topic for the new record, which will be displayed in the record list. And type anything you want to say about the conversation as "Comments". Also you can select more than one image to be stored together with the voice. One most exciting thisng is that by selecting a different audio frequency from the pull-down box which located directly beneath the text "Change Frequency", you can save the recorded voice with prefered frequency. After you are done with all of these, click the button "Save Record".
After the record is saved, one new item will be added into the record list in the user interface. Switch to "Call Records" window by clicking the tab. In the call record list, the newly recorded lies there.
Enjoy then playing around eh!!
Courtesy: Freebird's vEmotion
One more feather to Investment idea
I came to know this scheme a few days back through my roomie.
The scheme is available in all Banks and insurance agencies, but what marks the difference between this particular scheme and others ?? Read on..
Many might have come across "Whole Life Investment Plans" if you have are concerned with investment and insurance. But what i am referring here is Canara HSBC Bank plan for Whole life Investment plan. Other schemes have a minimum vesting period until the age of 50 years (most of them). So if you are aged 27 years, the minimum number of years you have to invet is 23 years.
In this particular Canara HSBC bank scheme, the minimum anumber of year is 5 years. That means that the scheme matures in just 5 years and not 23 years or more.
Here is a simple layout of what my friend had invested and the yield after 5 years.
Amount to be invested (annulay): Rs 50,000/-
Minimum number of years ( of investment) 5 years
Total amount invested: 5*50,000 = Rs 2,50,000/-
But upon maturity you will get an amount of whooping................................... 5 Lacs
That is double the amount you have invested. In other terms, if you have invested Rs 50,000 in a year, you are getting Rs 1,00,000 /- payable after 5 years time!
If the premium seems high for you to pay at a go, then heres a tip.
Tip: Go for a recurring deposit for say Rs 4200 per month for a year. While the term is over in a years time, you get the premium amount for the scheme, in return you earn the interest on the recurring amount.
Advantages:
1) Investment declaration
2) Can serve as both short term as well as long term investment, depending on ones terms
3) Might be the maximum yielding scheme known so far
Disadvantages:
1) Premium is high (50k/12 = 4167 per month)
2) You might need to open an account in HSBC Bank for beter transaction
3) Minimum balance for account opening/maintenance in HSBC is very high.
4) Tax deductible on interest amount
Courtesy: Room mate
Disclaimer: Please inquire the insurance agent before investing
The scheme is available in all Banks and insurance agencies, but what marks the difference between this particular scheme and others ?? Read on..
Many might have come across "Whole Life Investment Plans" if you have are concerned with investment and insurance. But what i am referring here is Canara HSBC Bank plan for Whole life Investment plan. Other schemes have a minimum vesting period until the age of 50 years (most of them). So if you are aged 27 years, the minimum number of years you have to invet is 23 years.
In this particular Canara HSBC bank scheme, the minimum anumber of year is 5 years. That means that the scheme matures in just 5 years and not 23 years or more.
Here is a simple layout of what my friend had invested and the yield after 5 years.
Amount to be invested (annulay): Rs 50,000/-
Minimum number of years ( of investment) 5 years
Total amount invested: 5*50,000 = Rs 2,50,000/-
But upon maturity you will get an amount of whooping................................... 5 Lacs
That is double the amount you have invested. In other terms, if you have invested Rs 50,000 in a year, you are getting Rs 1,00,000 /- payable after 5 years time!
If the premium seems high for you to pay at a go, then heres a tip.
Tip: Go for a recurring deposit for say Rs 4200 per month for a year. While the term is over in a years time, you get the premium amount for the scheme, in return you earn the interest on the recurring amount.
Advantages:
1) Investment declaration
2) Can serve as both short term as well as long term investment, depending on ones terms
3) Might be the maximum yielding scheme known so far
Disadvantages:
1) Premium is high (50k/12 = 4167 per month)
2) You might need to open an account in HSBC Bank for beter transaction
3) Minimum balance for account opening/maintenance in HSBC is very high.
4) Tax deductible on interest amount
Courtesy: Room mate
Disclaimer: Please inquire the insurance agent before investing
One more feather to Investment idea
I came to know this scheme a few days back through my roomie.
The scheme is available in all Banks and insurance agencies, but what marks the difference between this particular scheme and others ?? Read on..
Many might have come across "Whole Life Investment Plans" if you have are concerned with investment and insurance. But what i am referring here is Canara HSBC Bank plan for Whole life Investment plan. Other schemes have a minimum vesting period until the age of 50 years (most of them). So if you are aged 27 years, the minimum number of years you have to invet is 23 years.
In this particular Canara HSBC bank scheme, the minimum anumber of year is 5 years. That means that the scheme matures in just 5 years and not 23 years or more.
Here is a simple layout of what my friend had invested and the yield after 5 years.
Amount to be invested (annulay): Rs 50,000/-
Minimum number of years ( of investment) 5 years
Total amount invested: 5*50,000 = Rs 2,50,000/-
But upon maturity you will get an amount of whooping................................... 5 Lacs
That is double the amount you have invested. In other terms, if you have invested Rs 50,000 in a year, you are getting Rs 1,00,000 /- payable after 5 years time!
If the premium seems high for you to pay at a go, then heres a tip.
Tip: Go for a recurring deposit for say Rs 4200 per month for a year. While the term is over in a years time, you get the premium amount for the scheme, in return you earn the interest on the recurring amount.
Advantages:
1) Investment declaration
2) Can serve as both short term as well as long term investment, depending on ones terms
3) Might be the maximum yielding scheme known so far
Disadvantages:
1) Premium is high (50k/12 = 4167 per month)
2) You might need to open an account in HSBC Bank for beter transaction
3) Minimum balance for account opening/maintenance in HSBC is very high.
4) Tax deductible on interest amount
Courtesy: Room mate
Disclaimer: Please inquire the insurance agent before investing
The scheme is available in all Banks and insurance agencies, but what marks the difference between this particular scheme and others ?? Read on..
Many might have come across "Whole Life Investment Plans" if you have are concerned with investment and insurance. But what i am referring here is Canara HSBC Bank plan for Whole life Investment plan. Other schemes have a minimum vesting period until the age of 50 years (most of them). So if you are aged 27 years, the minimum number of years you have to invet is 23 years.
In this particular Canara HSBC bank scheme, the minimum anumber of year is 5 years. That means that the scheme matures in just 5 years and not 23 years or more.
Here is a simple layout of what my friend had invested and the yield after 5 years.
Amount to be invested (annulay): Rs 50,000/-
Minimum number of years ( of investment) 5 years
Total amount invested: 5*50,000 = Rs 2,50,000/-
But upon maturity you will get an amount of whooping................................... 5 Lacs
That is double the amount you have invested. In other terms, if you have invested Rs 50,000 in a year, you are getting Rs 1,00,000 /- payable after 5 years time!
If the premium seems high for you to pay at a go, then heres a tip.
Tip: Go for a recurring deposit for say Rs 4200 per month for a year. While the term is over in a years time, you get the premium amount for the scheme, in return you earn the interest on the recurring amount.
Advantages:
1) Investment declaration
2) Can serve as both short term as well as long term investment, depending on ones terms
3) Might be the maximum yielding scheme known so far
Disadvantages:
1) Premium is high (50k/12 = 4167 per month)
2) You might need to open an account in HSBC Bank for beter transaction
3) Minimum balance for account opening/maintenance in HSBC is very high.
4) Tax deductible on interest amount
Courtesy: Room mate
Disclaimer: Please inquire the insurance agent before investing
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