....missed out on A great way to save and create more wealth is to stop paying high interest rates to banks on home loans etc.
The best way to get out and .....stay out of high interest rates of banks is by using some of the NBFC and private institutions which offer lower rates of 6.5-7.5%.
I changed from citibank rippoff rate of 12.75% to 7.5% from private finance company using one of my contacts.
I'll be saving over 16.4 lacs over the next 15 years by changing over to private finance company. I can now save and invest this amount to earn more or repay the loan 35% faster than before.
why work to make the bank richer at your cost ?
If interested in lowering your interest u can contact
Re: Very Informative Article but ,...
by Balaji Rajagopalan on Oct 28, 2010 07:39 AM
dude, i think you are wrong. check whether the private finance company offered you 7.5% flat or diminishing. If it is 7.5% flat, your interest rate has actually gone up. The cost of NBFCs is actually much higher than banks. If you need help contact on 9819521169. I dont represent citibank or any banks, am an independent wealth manager. Balaji
I had invested in LIC ULIP for a 3 year lock period. Three years are over, and i am in need of money. I don't have any conultant with me. I want to know what is the process for breaking it and availing my money back.
Re: Re: How to get out of ULIP after 3 years of lock period.
by rajendran Nair on May 31, 2009 07:24 PM
ULIPs are going to have good growth period, so if u have invested dont be sorry and dont get out of it, but enjoy the growth and withdraw when sensex shows above 20000. However if u want money badly and if no other source is there, then u are at liberty to withdraw.
Re: How to get out of ULIP after 3 years of lock period.
by Balaji Rajagopalan on Oct 28, 2010 07:40 AM
Am an independent wealth manager. I work on a fee based model and help clients get out of sticky investments into more productive investments. You can reach me on 9819521169.
Hello Everybody Here is some simple Investments without ULIPs sample 1 lacs investment is as follows 1) Maximum money in PPF 40%(Low risk,medium returns) 2) Some good Tax saving Mutual Funds like SBI/HDFC/Sundaram etc 30% 3) Term policies which gives you insurance coverage from 15 lacs to 50 lacs and premiums starting from 6000 rupees yearly 4) Mediclaim policy to protect your family in case of emergencies 4) Some good insurance policy like Jeevan Anand/Jeevanshree from LIC These investments will give you decent returns with high insurance coverage and protection for your family. What else do you want? The insurance agent will tell you about ULIP,show good returns.He will not tell you about term policy because he gets less commission on such policies and in case of claim settlement,the company has to pay that promised amount.In case of ulip,The company can blame the markets in case of bad returns and will provoke you to invest more in low markets Also ULIP has very high Hidden charges for first three years so why waste your hard earned money! Also about Fixed deposits in reputated nationalized banks for longer terms can save your tax and give good returns. Think friends.I do follow this type of investments Bye Bye to Ulips and those exorbitant charges. he Insurance company paints a good picture,increases the greed of investor by showing returns from markets and provokes him to buy it.
To save tax, never go for insurance, at least with private companies. I have paid Rs.55000 to Aviva Life Insurance in last four years, saved tax of Rs.4500 in first two years & now they are paying only Rs.18000, likewise with Max New York life, I have paid Rs.28660 in last 5 yrs & they are only paying Rs.5600
Re: Insurance_Beware
by sapna mukherjee on May 30, 2009 03:15 PM
can showing investments to avoid tax lessens the amount of form-16. Please let me know on this.
Re: Insurance_Beware
by virat v on May 30, 2009 02:40 PM
u clarify how they r paying 18000? what is ur anual premium, in what tax slab u r? dont just blame insurance companies.
Re: Insurance_Beware
by journalist on May 29, 2009 10:41 AM
For Salaried employees, donations to trust amount is not considered in Monthly Tax Deductions, Why is it so?
Re: Insurance_Beware
by Sanjay Mittal on May 29, 2009 12:01 AM
You really need to understand product features & characteristics..... majority of the people with ULIPs have burnt their fingures for multiple reasons......
Re: Re: Insurance_Beware
by journalist on May 29, 2009 10:42 AM
For Salaried employees, donations to trust amount is not considered in Monthly Tax Deductions, Why is it so?
Re: Dont Pay tax simple
by ravindra avsare on May 30, 2009 12:43 PM
Its that simple, income upto Rs.1.5 lakhs even afater all allowable deductions is exempted from tax.
Re: Dont Pay tax simple
by mahibhushan jauhari on May 30, 2009 01:34 PM
Please help me Tarun I earn 1.2 Lakhs per month and pay an annual IT of 1.6 Lakhs after all deductions.Your reply will help others too.Thanks
Re: Dont Pay tax simple
by srinivasan mv on May 28, 2009 11:14 AM
Tarun, Are you a small time politician? Otherwise, you must be a Congress Party member or you are Quattarochi or Sonia Gandhi's friend. Reveal your true identity.
Re: Re: Dont Pay tax simple
by Sri Das on May 30, 2009 12:38 PM
it seems everybody who pays tax are beggars my dear...so as you said we are beggars at the end of the annum...
Re: Dont Pay tax simple
by Sukumar Mehta on May 27, 2009 09:10 PM
Just state your name and address. I will send some friends to meet you. (Incidentally, the friends work for Income Tax Department ! ! ! )
Re: Dont Pay tax simple
by ramesh suresh on May 28, 2009 04:01 AM
paying tax is d minimum social responsibility .. waana get nailed by IT officials?? pay tax and help the nation....
Re: Re: Dont Pay tax simple
by srinivasan mv on May 28, 2009 11:15 AM
IT officials are getting richer? Have you ever visited an IT Dept. They ask for bribe even for refunds.
Re: Dont Pay tax simple
by nilesh mishra on May 30, 2009 02:25 PM
don't declare us as fool,we all are just ignorent,please share your knowledge about shaving,
Re: Dont Pay tax simple
by Raj rai on May 28, 2009 02:16 PM
You must be the driver of Priyanka Gandhi family as all their workers are paid in cash so no tax involvement.
Re: Re: Dont Pay tax simple
by indi man on May 29, 2009 01:37 AM
why does he have to pay taxes, the government doesent give anything in return. Furthermore he is earning for his services, what did the government do to earn a part of his money. They can tax other stuff like property stocks everything else.
