'Avoid taking excessive credit risk via mutual funds such as high-yield fixed maturity plans and credit opportunity funds.'
BoB's offer of a lower home loan rate to customers with credit scores of 760 and above makes it incumbent on everyone to pay heed to this all-important number.
When looking at fund returns, avoid looking at just the past 12 months' performance, says Sanjay Kumar Singh
'To ensure you remain with the better performers, you need to consistently monitor your MF portfolios and weed out the non-performers, even if they are from a star fund manager or a fund house with a sound record.'
An investor would pay much less when he invests through a registered investment advisor than a distributor.
Losing a phone has become even more costly after the government's push for a cashless society
Taxation has played spoilsport despite double digit returns.
The government has made employers responsible for verifying whether the claims filed are according to the law. Earlier, companies went only by self-declaration of employees.
The main concern among industry and market experts is that the governance in these companies needs to be strengthened and the focus on social insurance has to come down.
'It is like bombing a building with 200 people to kill 5 terrorists.'
These funds carry low risk and should be able to beat the returns from fixed deposits.
Electronic transactions are rising fast, so are cases of payment failure and delayed settlement. One needs to be proactive.
Over a five-year period, the benefit of a sharp drop in interest rates would mean saving Rs 76,880 -- a significant number. But if the rate cuts are slimmer, say 25 bps or the number of years left is barely one or two years, shifting may not make too much sense.
'Everyone is still trying to understand the quantum of impact demonetisation will have on the economy.'
A combination of ELSS or PPF with a term plan offers better coverage and returns
Prepare your replies with expert help, if necessary. Keep relevant documents ready to support your replies.
If you are making any drastic changes, make sure there is adequate documentation
Even if the government didn't plan for demonetisation properly, it could have taken steps on a war footing later to ensure the situation improves.
Joydeep Ghosh takes stock of personal finances after the life-altering surprises of 2016.
Expect more volatility in the coming year as the economy and markets price in the demonetisation drive.
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