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Old 28th September 2010, 22:31   #361
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Thanks carboy, that answers my question perfectly & some more
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Old 29th September 2010, 08:06   #362
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And @Techno - You can make only upto 12 deposits per annum. For more information see the rule book here.
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Old 29th September 2010, 08:50   #363
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Another plus point of PPF. If you want to deposit amount on monthly basis, you can have an ECS mandate provided you have an account with SBI.
I have given an ECS mandate to transfer X amount (limited to 70K) every month from my savings account to PPF account. I get a consolidated statement annually and passbook updated. The only hitch is I cant see the PPF account balance online as of yet.
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Old 29th September 2010, 09:04   #364
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Quote:
Originally Posted by ghodlur View Post
If you want to deposit amount on monthly basis, you can have an ECS mandate provided you have an account with SBI.
For this facility of ECS, the PPF should be opened with SBI otherwise the ECS facility cannot be used if opened in a PO. The talks are going on (for years) to bring ECS facility with PO
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Old 29th September 2010, 14:04   #365
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Originally Posted by aargee View Post


So that was one of the reason as why I was determined with LIC, but then RKG helped me understand the lower premium on Aegon Religare & the strong backup of Religare with Aegon. So in a way both you & RKG were most influential.

Let me once again compare & see as my PO agent's wifey works in LIC & for Religare, I can pay through online. So both are hassle free IMO. I'll keep this posted the updates.
Hi aargee,
Which is the Aegon Religare plan you took for term-insurance? Could you elaborate on the term and the premium amount?

Thanks,
Ramki

Last edited by ramki067 : 29th September 2010 at 14:08.
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Old 29th September 2010, 21:35   #366
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Quote:
Originally Posted by aargee View Post
And @Techno - You can make only upto 12 deposits per annum. For more information see the rule book here.
Thanks a lot man

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Originally Posted by ghodlur View Post
Another plus point of PPF. If you want to deposit amount on monthly basis, you can have an ECS mandate provided you have an account with SBI.
I have given an ECS mandate to transfer X amount (limited to 70K) every month from my savings account to PPF account. I get a consolidated statement annually and passbook updated. The only hitch is I cant see the PPF account balance online as of yet.
That's strange, you should be able to see it online, please check with your branch.
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Old 29th September 2010, 21:43   #367
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Excellent thread! Can you guys help me in deciding between FD and RD? For short term investement like 1 year to 3 years.
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Old 29th September 2010, 21:58   #368
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Excellent thread! Can you guys help me in deciding between FD and RD? For short term investement like 1 year to 3 years.
I don't understand - RD & FD aren't competing products at all. Can you explain the situation where you have chose between a RD & a FD?
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Old 30th September 2010, 05:08   #369
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Quote:
Originally Posted by Tecnocrat
Thanks a lot man
Thanks for the homologation thread too

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Originally Posted by ramki067 View Post
Hi aargee,
Which is the Aegon Religare plan you took for term-insurance? Could you elaborate on the term and the premium amount?
I haven't taken anything so far. But will be soon going to Aegon Religare's iTerm or LIC. Still not decided as Wifey is against Aegon & I'm against LIC. So hopefully we'll settle our disputes quicker & take one before Oct mid.

Edit - The premium amount discussion is here - http://www.team-bhp.com/forum/shifti...ovider-12.html (Best Life Insurance provider)

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Originally Posted by _raVan_ View Post
Can you guys help me in deciding between FD and RD? For short term investement like 1 year to 3 years.
Like Carboy says, they're not competing products. If you've a Lakh & don't know what to do, go for FD, if you need a Lakh or more in 3 years, then go for RD.

FD means Fixed Deposit, means, your money is fixed for certain tenure
RD means your deposits are recurring, you need to keep depositing the same amount every month for a specific tenure so that the wealth accumulates over a period of time.

Quote:
Originally Posted by Carboy
Can you explain the situation where you have chose between a RD & a FD?
They aren't competing, but the situation is different; I've a lumpsum = FD, I need a lumpsum = RD.

Last edited by aargee : 30th September 2010 at 05:17.
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Old 30th September 2010, 09:06   #370
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That's strange, you should be able to see it online, please check with your branch.
Thanks Technocrat, will surely ask the SBI branch to link my PPF account to my internet banking.
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Old 1st October 2010, 23:05   #371
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Guys,

Is it true that you need to open a savings account in SBI (if you don't have, already) to start a PPF from it?
Heard it somewhere.

Last edited by NK@Hyd : 1st October 2010 at 23:08. Reason: alignment
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Old 7th October 2010, 15:19   #372
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Thanks aargee and cowboy for your inputs. I know they are not competing products, but was wondering about the rate of interest offered. Is there a significant gap?
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Old 7th October 2010, 15:31   #373
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Originally Posted by Technocrat View Post
I have one question here, is there a 70k cap for PPF a/c or is it that the max gain on PPF a/c in a year is only 70k & hence people dont put more money?
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It's a hard cap. You can't put more than 70K in a year.
You can however open an account in your spouse's name also & put 70K there, irrespective of whether she is working or not.
I hoppe you guys know that even though combined contribution can be more than 70k, tax exemption will be limited to 70k only.
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Old 7th October 2010, 16:35   #374
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Originally Posted by _raVan_ View Post
Thanks aargee and cowboy for your inputs. I know they are not competing products, but was wondering about the rate of interest offered. Is there a significant gap?
It depends upon the financial institution where you're investing. PO offers about 8% for POMIS (a.k.a FD in PO) & I hope its the same ROI with banks for a period of 5 years. Otherwise the interest rates are low with bank.

Point - You need to check with your bank for the ROI.

Question to all - Has anyone taken loan against their MIS or RD in PO? Would the ROI be lesser compared to bank? Any info is appreciated. Tks.
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Old 7th October 2010, 17:06   #375
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Quote:
Originally Posted by _raVan_ View Post
Thanks aargee and cowboy for your inputs. I know they are not competing products, but was wondering about the rate of interest offered. Is there a significant gap?
It totally depends on the bank or institution. There isn't any general thumbrule.

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Originally Posted by DCEite View Post
I hoppe you guys know that even though combined contribution can be more than 70k, tax exemption will be limited to 70k only.
Sure. But the reason I am thinking of opening a 2nd account, is because PPF is one of the few instruments available where the interest is tax-free.
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