'While many policies say that they will cover mental illnesses, the wordings of a few still have mental illness as a permanent exclusion.' 'After the new IRDAI circular, such exclusions should go away.'
An NCD's credit rating will tell you whether risk possibility is high or low. Instruments rated below AA are regarded as high-risk.
Going through the credit report regularly will make you aware of a number of issues. One is identity theft.
'The long maturity of these funds makes them well-suited for long-term financial goals such as saving for retirement or children's education or marriage.'
'Individuals can consider dividing ownership of properties between related persons to ensure that the sale transactions are below the Rs 50 lakh limit and therefore not subject to TDS.'
'Set aside around six months' monthly expenses for emergencies.' 'Keep this money in safe and liquid options, such as liquid funds and fixed deposits.'
'Negotiate a longer agreement with the escalation clause fixed now.' 'This will enable you to control future cost increases.'
NPS is a cost-effective instrument with low fund management and other fees. Unlike in mutual funds, investors get the benefit of tax-free rebalancing here.
Buy from an established agent rather than a novice who may not be around when you need his assistance.
'Continue with your SIPs to get the benefit of lower average prices in this challenging market environment.'
The advantage of leasing is that you can get a new car every few years. You can also get to drive a high-end car without paying its entire price.
End users should take the plunge despite higher home loan rates as these tend to be cyclical.
Don't exit from growth-style funds as they may benefit next from a shift in investor preference.
These funds can fetch double-digit returns over the long term which debt tax-saving products can't.
Besides high portfolio yield, investors may enjoy capital gains in debt funds in 2023 as bonds rally in anticipation of rate cuts.
Since infrastructure projects have long gestation periods, investors need to enter them with a long horizon of at least 10 years.
Make sure that the person you are buying the plot from is the rightful owner.
NRIs can repatriate the proceeds from the sale of a residential property in India, provided they meet a few conditions.
'Many non-resident taxpayers faced issues in filing Form 10F since the portal didn't allow those who didn't have PAN to file the form.'
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
'Sector funds like IT funds should be included only in the satellite portfolio.' 'Limit your exposure to IT sector funds to around 5-10 per cent of your equity portfolio.'
A person who has cancer and doesn't have any health insurance will find it difficult to buy a regular hospitalisation cover. An indemnity-based cancer plan may cover them.
Make sure buying a house won't lead to compromises on other crucial financial goals.
TMFs invest in a public index, so investors know beforehand which instruments the fund will invest in.
'Comparing the rates of interest with PSU banks, the three- and five-year time deposit rates of the post office are more favourable.'
Investors not comfortable investing directly may take the mutual fund route, where they get exposure to a diversified portfolio of bonds.
Rebalance the portfolio at least once a year to ensure it remains in sync with the target asset allocation.
If you don't have a specific goal, but want intermittent liquidity, then ladder your FDs, that is, invest in FDs of varying maturities, such as one, two, three, five or even 10 years. Laddering ensures FDs mature at regular intervals.
Improved credit profile may make you eligible to transfer your existing home loan to another lender at a much lower rate.
Invest only if you wish to go overweight on the sector.
Many investors want to exit equities now and re-enter when they begin to rise. Such timing is difficult to pull off.
Borrowers should be careful if the app promises too-quick disbursal, and doesn't provide adequate information on the terms of the loan, such as interest rate, repayment schedule, etc.
Over longer periods of three, five and 10 years, small-cap funds have rewarded their investors handsomely.
'If you wish to make a big-ticket purchase on EMI without having to pay additional charges, no-cost EMI would be the right choice for you.'
The returns from liquid funds, currently, look better than what savings accounts of leading banks are offering, points out Sarbajeet K Sen.
Enter multi-cap funds only if you can stay invested for the long term.
If you opt for a term-life cover, buy separate policies to cover the loan for all the co-borrowers in a home loan for a sum assured equal to the home loan amount.
When we are unwell, we consult a doctor, take a prescription, and then buy medicines from a chemist. In finance, too, it is best to keep investment advice and product purchase separate, suggests Bindisha Sarang.
The SIP route suits the salaried class, by matching their income flows with investment frequency.
While the purchases of celebrity investors become public knowledge, what is not known is the price point at which they bought them.
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