SBI Mutual Funds
SBI Mutual Fund is India’s largest bank sponsored mutual fund and has an enviable track record in judicious investments and consistent wealth creation. The fund traces its lineage to SBI - India’s largest banking enterprise. The institution has grown immensely since its inception and today it is India's largest bank, patronized by over 80% of the top corporate houses of the country. SBI Mutual Fund is a joint venture between the State Bank of India and Society General Asset Management,…
Retirement Plans
What is Retirement Plan ? In today’s life, very few things come with guarantees. Life can be uncertain but your financial planning need not be. The rising inflation has put the fear of the unseen in every working person’s life. Today, more than ever, it is vital that you save for the golden years post retirement so that you can maintain your lifestyle as today. Retirement Plans comes with a unique Lifestyle fund which systematically reduces the risk to your…
Manappuram Finance Ltd NCD issue to close early
Manappuram Finance Ltd NCD (Non Convertible Debentures) issue is to be closed early on Aug 26th instead of Sept 5 as declared earlier by the company. It seems they have already raised the amount they needed. Read Full Report Manappuram Finance Ltd has informed BSE that in terms of the prospectus dated August 09, 2011 filed with the Registrar of Companies, Kerala and Lakshadweep (the "Prospectus"), the public Issue by Manappuram Finance Ltd (the "Company") of secured, redeemable, non-convertible debentures…
SBI Gold Fund – NFO
Brief on SBI Gold Fund : The two most important concerns while buying gold are purity and safety (in terms of storage). To address both these concerns, SBI GETS (Gold ETF ) was launched where investments are made in dematerialized (demat) form. Considering that dematerialization is a new concept in India and there is very low penetration of demat accounts amongst Indian investors. This low penetration has prevented access to gold as an asset class for investors who don’t have…
Muthoot Finance – Secured, Redeemable NCD
About Muthoot Finance Ltd Muthoot Finance Ltd is a NBFC incorporated in 1997 primarily provides loan against household used jewellery and offers other products and services like money transfer, insurance, securities, foreign exchange, vehicle and asset finance services. Gold loans account for 99% of Muthoot's assets under management with predominant exposure to South India. Issue Size The company plans for a public issue of secured, redeemable, non-convertible debentures (NCDs) of face value of Rs 1,000 each aggregating upto Rs 500…
What are NCDs ?
Non Convertible Debentures or NCDs are debt (fixed income) instruments that are issued for fixed maturity. NCDs shall be issued at face value and will carry a coupon rate as determined by the issuer. Normally redemption periods of these instruments range from 3-10 years. These instruments offer coupon rate ranging from 11-12%. Investors have the option to exit from these instruments before full tenure by selling in the secondary market, when these instruments are listed on exchanges. In the recent past,…
Certificate of Deposit in India
CDs are negotiable money market instrument issued in demat form or as a Usance Promissory Notes. CDs issued by banks should not have the maturity less than seven days and not more than one year. Financial Institutions are allowed to issue CDs for a period between 1 year and up to 3 years. CDs are like bank term deposits but unlike traditional time deposits these are freely negotiable and are often referred to as Negotiable Certificates of Deposit. CDs normally…
Post Office Monthly Income Scheme (POMIS)
The Post Office Monthly Income Scheme (PO MIS) is a small investment and savings scheme. Main Features/ Rules - This scheme provides a regular monthly income to the depositors and has a term of 6 years. Minimum amount of investment is , and maximum amount in case of single account is ,50,000/-, and in case of joint account is ,00,000/-. Interest rate is 8% payable monthly with a bonus of 5% payable on maturity. Nomination facility is available. Rebate under…
Senior Citizen Savings Scheme
Senior Citizen Savings Scheme is an investment instrument directed towards Senior Citizens. Eligibility is 60 years of age or above, on the date of opening the account. Proof of age and a photograph of account holder are required. The age limit is reduced to 55 years in case of an individual retiring on superannuation or otherwise, or under VRS or special VRS, provided the account is opened within one month of date of receipt of retirement benefits. The retired personnel…
National Savings Certificate (NSC)
National Savings Certificate, also popularly known as NSC is a tax saving investment instrument with a maturity of 6 years. Features and Details - Minimum investment Rs. 500/- No maximum limit. Rate of interest 8% compounded half yearly. Rs. 1000/- grow to Rs. 1601/- in six years. Two adults, Individuals, and minor through guardian can purchase. Companies, Trusts, Societies and any other Institutions not eligible to purchase. Non-resident Indian/HUF can not purchase. No pre-mature encashment. Annual interest earned is deemed…