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Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
If you were to choose one of these as long term investment (at least 15 years), which one would you opt for? What should be the reasons for you to choose one of these? Here is a comparison of these schemes based on certain important factors
Here's unlocking the real story behind your EPF's 8.25% interest and what it truly means for your retirement kitty.
The popular Five-Year National Savings Certificates will earn an interest rate of 8.1 per cent from April 1 as against 8.5 per cent, at present.
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Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Even if interest rates go down, they may continue to offer better returns than fixed deposits.
In a relief to savers, the government on Wednesday kept interest rates on small savings schemes, including NSC and PPF, unchanged for the second quarter of 2021-22 amid the COVID-19 pandemic. Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1 per cent and 6.8 per cent, respectively, in the second quarter as well. "The rates of interest on various small savings schemes for the second quarter of the financial year 2021-22 starting from July 1, 2021, and ending on September 30, 2021, shall remain unchanged from the current rates applicable for the first quarter (April 1, 2021 to June 30, 2021) for FY 2021-22," the finance ministry said in a notification.
The government on Friday raised interest rates on most post office saving schemes by up to 0.7 per cent for the April-June 2023 quarter in line with the firming of interest rates in the economy. While the interest rates for popular PPF and savings deposits have been retained at 7.1 per cent and 4 per cent, respectively, there has been an increase between 0.1 per cent and 0.7 per cent in other saving schemes, a finance ministry statement said. The highest increase was in the interest rate of the National Savings Certificate (NSC), which will now attract 7.7 per cent, up from 7 per cent, for the April 1 to June 30, 2023 period.
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>According to the latest RBI data, PPF receipts have already experienced a decline between April 2023 and February 2024. Other schemes like the Sukanya Samriddhi Account and National Savings Certificate are also witnessing reduced inflows.
The amount saved in a PPF account is actually saving for a rainy day.
God forbid, if bad days fall upon someone and debts pile up. A fascinating excerpt from Anil Lamba's Financial Affairs Of The Common Man: Master The Art Of Personal Finance Management.
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PPF is a long-term, government-backed small savings scheme of the Central government started with the objective of providing old age income security to the workers in the unorganised sector and self-employed individuals.
With a strong plan in mind, Public Provident Fund can become an important and strong part of your investment, says Naval Goel.
The government on Wednesday cut interest rates on small savings schemes, including NSC and PPF, by up to 1.1 per cent for the first quarter of 2021-22 in line with falling fixed deposit rates of banks. Interest rate on Public Provident Fund (PPF) has been reduced by 0.7 per cent to 6.4 per cent while National Savings Certificate (NSC) will now earn 0.9 per cent less at 5.9 per cent. Interest rates for small savings schemes are notified on a quarterly basis. The rates of interest on various small savings schemes for the first quarter of the financial year 2021-22 starting from April 1 has been revised, the finance ministry said in a notification.
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Equity-focused schemes may perform better in a bull market, while debt-oriented ones may offer greater stability during volatile periods.
The government on Wednesday said interest rates on post office savings schemes, except the PPF, will remain fixed throughout the term of the scheme.
People with modest incomes can also build a crore-worthy portfolio by investing small amounts consistently, says Ramalingam Kalirajan, and shows how the magic of compounding works.
The fear of losing purchasing power due to inflation and low-interest rates has led many to explore safe alternatives to fixed deposits with high returns
Millions of small savers and PPF account holders will earn less on their post office savings schemes, with the government deciding to reduce interest rates on them marginally by 0.10 per cent.
So, the next time someone tempts you with a slightly higher FD rate from a lesser-known bank, point them to hybrid funds that can deliver extra returns without the administrative and emotional rollercoaster.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Banks have been reluctant to transmit the entire policy rate cut by RBI to borrowers.
If you look at the interest rate offered, tenure of investment and tax implications voluntary provident fund scores over public provident fund.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
