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Old 3rd January 2017, 10:51   #601
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Originally Posted by lambuhere1 View Post
A bit off topic :

Can we deposit a Post Office Savings account Cheque in either SBI or HDFC or any nationalized bank ?

Reason for asking is a few of my NSC are getting matured and need the funds. We dont want to carry the cash from Post office and deposit in the bank.

Not sure if RBI has provided the banking license to India Post for seamless banking transactions.

Appreciate your help
I've never received a Post Office cheque on NSC maturity. I have received SBI cheques from the PO on maturity. I believe they maintain accounts with nationalized banks in the name of the postmaster of the branch.

One of them also did a fund transfer to my account - it was actually done from the GPO. But the next time they gave me a cheque and refused an online transfer.
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Old 3rd January 2017, 11:00   #602
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Default Re: Income Tax savings, Investments and Insurance

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I've never received a Post Office cheque on NSC maturity. I have received SBI cheques from the PO on maturity. I believe they maintain accounts with nationalized banks in the name of the postmaster of the branch. But the next time they gave me a cheque and refused an online transfer.
Receipt of SBI cheque is news to me. Earlier, whenever the NSC got matured, the funds used to get transferred to Post Office Savings account from which we could withdraw with the withdrawal slip.

If Post office provides SBI cheque, it will work wonders. Not sure if it is applicable to all post offices in current scenerio

Appreciate your kind reply
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Old 3rd January 2017, 11:21   #603
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Default Re: Income Tax savings, Investments and Insurance

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Originally Posted by lambuhere1 View Post
Receipt of SBI cheque is news to me. Earlier, whenever the NSC got matured, the funds used to get transferred to Post Office Savings account from which we could withdraw with the withdrawal slip.

If Post office provides SBI cheque, it will work wonders. Not sure if it is applicable to all post offices in current scenerio

Appreciate your kind reply
I have a PO savings account but never transferred the maturity amount to it due to cash handling problems , just like you. I've insisted on a cheque or fund transfer , and the cheque has always been from a Nationalised Bank. That has been my experience in Bangalore.

The best thing to do would be to inquire at the branch and find out the options they have. They might prefer a transfer to the PO savings account as that's the easiest option for them, but do insist that won't work for you.

Last edited by sdp1975 : 3rd January 2017 at 11:24.
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Old 3rd January 2017, 14:28   #604
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Default Re: Income Tax savings, Investments and Insurance

Quote:
Originally Posted by lambuhere1 View Post
A bit off topic :

Can we deposit a Post Office Savings account Cheque in either SBI or HDFC or any nationalized bank ?

Reason for asking is a few of my NSC are getting matured and need the funds. We dont want to carry the cash from Post office and deposit in the bank.

Not sure if RBI has provided the banking license to India Post for seamless banking transactions.

Appreciate your help
This was very much possible pre CTS era, not sure if this will work now.
My PO in Bangalore are more than happy to provide a Cheque(SBI in my case) in my name, which got cleared in the normal process.
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Old 6th June 2017, 18:17   #605
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Default Re: Income Tax savings, Investments and Insurance

Anyone has any recommendation for a decent Financial Planner in Bangalore, whom you have used or had good experience with? I searched some time for Certified Financial Planners in Bangalore, but getting mixed information.
I'm planning to start investing, and have been suggested to take services of a for-fee-financial-adviser, rather than shortlisting funds myself.
Any other insights are also welcome!
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Old 6th June 2017, 18:34   #606
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Default Re: Income Tax savings, Investments and Insurance

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Anyone has any recommendation for a decent Financial Planner in Bangalore, whom you have used or had good experience with? I searched some time for Certified Financial Planners in Bangalore, but getting mixed information.
I'm planning to start investing, and have been suggested to take services of a for-fee-financial-adviser, rather than shortlisting funds myself.
Any other insights are also welcome!
Honestly, you don't need a financial planner to identify good funds. There are tons of information available online to identify good funds. But it does take some effort from your end. I use Value Research Online and FundsIndia.
Just my 2 cents!
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