Finance

Fulfilling my Life Goals one step a time with Bajaj Allianz

There is a popular song from a Hindi movie in which the protagonist, a music lover, sings during his college farewell about how everyone’s faces are so filled with dreams and hopes of becoming a successful engineer or continuing their family business and thus to fulfil their life goals. The protagonist further sings it out on how he plans to chart a career path less taken which above all will give him satisfaction and happiness in life. The song and its words continue to resonate with young minds today, despite it being three decades old.

“Get practical!”, one is told. “Money doesn’t grow on trees. To be successful you need money.” Undoubtedly money doesn’t grow on trees and money is essential for a successful life, the excessive stress laid on it makes it seem like money is the sole criterion for success. This is a wrong understanding of one’s life goals. This often leads to an individual ending up at either extreme of the spectrum between the achievement of personal life goals and monetary success. This, in fact, requires a balancing act. One feels a continual urge to fulfill their personal goals but also need money at different points of life to satisfy their needs and those of their family.

It is the alignment of our approach to living and working in line with our short-term goals and long-term life goals in mind. It is important to holistically save and invest with one’s money after understanding current and future needs. While we are driven to satisfy many of our short-term needs, like buying a house, owning a mobile phone, maintaining a car, travel expenditures, etc, we cannot let it overtake our future priorities of securing the best education for our child, ensuring medical facilities in case of future health risks, planning for old age, etc.

With the prices of education, housing and daily needs fluctuating with every passing year, a well-planned #LifeGoals oriented investment also involves noting the rising inflation rates. An unplanned way of saving, investing and expending often leads to the lack of resources when felt most necessary in life. It is very important to opt for planned investments which takes care of our obligations as well as dreams and helps us preplan ways to secure them. It helps us to differentiate our short-term goals as against out long-term life goals and to prioritize them in a practical way, thus allowing us to enjoy one end of the pie, while also ensuring there is more left for the future.

Bajaj-Allianz has gained a pan India following of trust with its various investment plans and has for the past 17 years brought many individuals and families closer to realizing and achieving their dreams. In a recent event, Suresh Menon used his comic style to speak of how in the past investments in Gold and term deposits in banks were considered the safest options. However, the trend today has changed and people’s trust in other financial instruments is growing stronger. These days people don’t just want to have a regular job, they crave adventure, experiments and excitement. Your dream could be your own startup or it could be to travel the world.

The ULIP offered by Bajaj-Allianz factors in the fact that we all want to fulfill our dreams as well as protect our families. Their ULIP or Unit Linked Insurance Plan offers us both –the benefits of having a life insurance and the benefits of holding a market-linked instrument. In this way it allows us to earn a regular income while also being able to claim the larger sum assured in case of an unforeseen circumstance. In our age of uncertainty, the Bajaj Allianz with its ULIPs helps both individuals and families to invest and ensure a secure future while also helping them to pursue their dreams. Why do I trust him? Simple, they have Rs. 50,000 crores of assets under management.

Now, I have to admit that ULIPs don’t have the best name in the industry and that is because there are several myths surrounding it. Why don’t I present some facts to change your mind?

Fact 1: ULIPs are ideal for long-term investments and they give you the flexibility to invest according to your risk appetite

Fact 2: The Fund Management Charge is levied between 0.95% to 1.35% which is amongst the lowest in the industry.

Fact 3: The Life Insurance cover is comprehensive and a ULIP coverage is protected from market volatility

Fact 4: You have the option to take a lump sum maturity benefit or in installments

Fact 5: Certain plans by Bajaj Allianz have 100% allocation of premiums.

ULIPs indeed helps one to #InvestBefikar and leads them to achieve their #LifeGoals. I am sure you are buzzing with questions now. Why don’t you take some time and plan your life goals, too and then let me know if you have any questions about your future ULIP investments?

Do visit Bajaj Allianz’s website and social media pages to stay updated 🙂

Please note: All Financial investments are subject to risks, please research well before you make your decision.

Why Investing in a child Education Plan is the Need of the Hour

The importance of early Education planning

When our parents were young children, food, clothing, and shelter were considered to be the benchmark of happiness and contentment. Everything above this was a luxury. Education planning wasn’t really though to be important in those days. My mom tells me that how in the 1960’s sending a girl child to an English medium school and later college was considered to be a wasteful expenditure and when she was sent to one, my grandfather earned great flak from the society. The 90’s middle-class children like me were sent to regular colleges with modest fees. But that is not the case anymore. These days quality education for children, besides learning, also involves sports, competitions, art classes, social work, and many other activities. There is great scope and opportunity to learn but the costs of higher education are beyond affordable today, making it a distant dream for the common man. Educational fees are exorbitantly high especially if your child dreams to go abroad or get into a prestigious institution. This is forcing families to take high-interest student loans led students to be stuck funding a debt right after their graduation. It is thus critical for every parent to begin education planning early and to invest towards securing their greatest future need. A child education plan with a detailed education planner right from nursery to post graduation if needed helps us in ensuring the same.

Education planning must begin when your child is still young as it is important to start early and choose wisely. Let me introduce you to Aegon Life’s child education plan, iMaximize, and its key features.

What is iMaximize?

iMaximize is an online Unit Linked Insurance Plan (ULIP), It is flexible and offers market linked returns while at the same time offering your protection and safety for your investment. An important feature of this plan is the Triple*Benefit payout option offered on the death of a parent which means:

i) Sum assured is paid immediately and future payments are waived

ii) Annual payout equal to the annual premium is given

iii) Receive total fund value at the end of the term

Often while investing in ULIPs, I have realized that the amount I have paid is not the amount that gets invested as there are a number of hidden charges. Aegon life, on the other hand, ensures that 100% of the premium gets invested and this makes it value for money for the customer.

What makes it different from other products in the market?

· You have the option to switch your premium funds from one to another without incurring a penalty. You will be allowed 4 free switches in one year and there 6 unit-linked funds available to you

· You can opt for monthly or lump sum payment options

· You have the option to boost your fund value through periodic top-up premiums

· In case of emergencies, you can withdraw up to 20% after 5 years

· Anybody can start investing as the minimum payment you need to make is Rs. 2000/-

· You will receive Tax benefits on premiums paid and benefits received

· Your child can access the money once she/he reaches 18 years of age

Finally, I would like to leave you with this. We live in uncertain times and while we should definitely hope for the best, we cannot ever predict what may go wrong. Now that education planning is getting easier and systematic, we must not delay lest we repent later.

A child education plan will help ensure no matter what, your child will definitely get access to quality education which will lead to his or her future. I think you should definitely check the education planner available on Aegon Life’s website which will give you a free estimate on how much you ideally need to save. This will help you plan your child’s future better. I also urge you to evaluate all the risks involved before you invest in with anybody.

The complete guide to home loan in India

A house is an inanimate piece of property while our home is where our heart truly is. It has taken me years to realize this sentiment and these days instead of aspiring for the latest gadget, I have started focusing on finding my own place. My home where I can relax in peace, host dinner parties for my friends, have a small library and a balcony where I can garden during the weekends. But I believe that like me, most of us don’t have the money to make a direct purchase. We require a home loan and an affordable home loan interest rate which we can pay off with ease. This is where the banks come to our rescue.

My extensive research on buying a house and on home loans has taught me one important lesson. It is prudent to plan ahead and closely scrutinize both the home loan provider as well as the home before we make a decision. With a plethora of banks out there, how does one know which one would serve their purpose the best? Which property should one invest in? Which location would be the best?

If these questions have set your mind abuzz, then do read my complete guide to home loans in India.

Things to remember while choosing your house

The first thing and the most important one would be to judge and ensure the people building your precious stay are legitimately following the rules of the land. If the property builder or the seller is not able to offer proper documents for you to submit to the bank, your home loan application will get rejected after review. Even otherwise, going forward with an unclear deal might bring trouble in the future.

Here is the list of documents you should ask for if you are buying a building/complex that is under construction:

i. A Sanctioned building plan

ii.Land record and construction clearances

iii. No objection certificate for the construction from the relevant authorities

vi. Possession/occupancy certificate from builder

If you are buying your home from a seller who has possession currently, you would require the following documents:

i. Absolute Sale Deed

ii. The seller should provide you with the tax receipt, electricity, and telephone bill for the past three months

iii. If the seller had taken any home loan from a bank, he should provide you the latest statement of any loan outstanding on the property,

vi. Copy of the agreement of sale and construction executed by developer in favour of seller

v. A No Objection Certificate from Apartment Association approving the sale

vii. All title documents of landowner

viii. RTC (Records of Rights and Tenancy Corps) or 7/12 extract

xi. Maintenance Service agreement

Besides these, the locality, the quality of life, the facilities available in the vicinity and the daily commute to your workplace becomes another important factor along with the quantum of home loan required.

7 Things to remember while taking a home loan

Once you have shortlisted your house, you need to keep these things in mind before making your home loan application.

1. RERA requirements

The legality of the property is a very important factor for a bank to sanction a home loan. Before you make your application, do check your builder’s details on RERA website.

2. Down payment

Generally, 20% of the value of the property is considered to be an ideal down payment. You should try and increase it to 25 to 30% by taking a soft loan from your employees or family if required. This will help reduce the principal amount of your home loan and the eventual interest you would have to pay.

3. CIBIL score

A CIBIL score of 750 is mandatory in all banking institutions for sanctioning a home loan. Besides this, your age, occupation, health, annual income and other factors become an important determining factor for your loan.

4.The rate of interest

Remember, while you may have a bank which gives you the best offer, they would want to know details and see documents of your present income, past loans taken/returned and so on. While a low rate of interest is certainly something one must look for, one must cautiously see whether the offer is being made based on a fixed or a floating interest rate. The difference simply lies in the literal meaning of the words, i.e. a fixed interest rate, the rate will remain the same throughout the loan repayment period while a floating rate might change to be higher or lower during this time. Which one to select is an important choice one must make.

5. Hidden costs if any

Home loans often come with a fee to be paid initially while making the application. The processing fees for the home loan is often high in certain banks and therefore, it is important that you look minutely at all the details to find out any hidden costs.

6. EMI options

While the EMI may seem easy to repay at first glance, you must calculate and foresee the expenses forthcoming. Marriage, children and school fees; stability of job–aspirations–medical expenditure and other factors are important to consider.

Remember, that while your home is your biggest aspiration today, during the period of repayment of your home loan, you will have many small and big needs to fulfill that you might not get to do with ease if you choose hastily. This is a long time engagement with a bank, so make a detailed assessment before making your choice. Check whether flexible choices to decide on a smaller EMI to be paid over a longer term period are offered to help ensure you are able to meet your future financial commitments.

7. Any additional benefits offered

Some banks take concern to manage your loan by extending other special benefits like services at your doorstep, premium access to a relationship manager, etc. throughout the repayment period. A few also accept prepayment of loan amount before the due date with no extra fee being charged for the same.

I would end with; choose wisely and find a home loan that gives you the freedom to secure your dreams rather than bonding you to a debt. Dreaming of a home needs a loving heart and a thoughtful mind to find fulfillment

Investment Simplified with ARQ

When I think of starting personal investments, I often begin to feel overwhelmed due to feeling a lack of knowledge. How can somebody who has little or no understanding about the financial world make such a big decision? Sure, there are hundreds of brokers and advisers out there but who do I trust and why should I trust them?

Starting Personal Investments

I know that starting personal investments early is important. But I do not know how to invest, what to invest and where to invest. Technological innovations have, however, started improving this situation. They have brought in a great deal of transparency and understanding of financial dealings. With the help of technology, i realise that investing my money can be an art. With the technological revolution, a lay woman like me can invest with the help of a magical tool called ARQ.

Angel Broking is one of India’s best brokerage companies has introduced this revolutionary technology called ARQ which is an app that will assist its users make investments based on scientific analysis.

What is so unique about the ARQ app?

It is based on real time financial performances and the most accurate results are provided. Starting personal investments based on this I can wisely stack my money and earn a profit.

Some key highlights of ARQ

This hyper intelligent technological tool guides the users the right investment plans
ARQ app helps the user to build an investment portfolio and concentrates on maximizing the wealth along with stability.
It predicts the future by analyzing the mutual funds and stock market
It takes emotions and human bias out of stock recommendations. Everything is based on concrete facts.
ARQ is a smart stock advisor; it learns from experts and uses cognitive algorithms which helps ARQ make sound investment decisions.
It gives each and every one of us the freedom to become our fund manager. Our money is in our own hands and all the share recommendation is made available through SMS.
This app engine is designed in such a way that this can interact with the users on one-to-one basis and suggest
With this revolutionary futuristic technology, a special future prediction is given after assessing the assets and the client have in hand.
It reduces the users time and provides with instant analysis and feedback system
This app uses expert knowledge, analysis of market trends and mathematical intelligence that provides concrete and unbiased guidance to all the special clients.
There is no fee that you need to pay to ARQ for its expertise nor do you have to mandatorily make any investment. You have full control over your money.
Angel Broking has stepped forward in fulfilling the company’s dream and vision of a ‘Digital Revolution’. With the ARQ technology, the past failures are being covered and foundation for future is made strong.
Angel Broking is one of the top 10 stockbrokers offering best robo advisory services to its clients.
With the ARQ app, wealth management becomes easy and this app simplifies the task with top recommendations in Mutual Funds, Derivatives, Equity Stocks and much more.
The ARQ app keeps a track of market trends and gives accurate market information for the users.
Angel Broking is providing its clients personal attention by providing ‘value for money’ and yet taking the company globally corporate.
Based on the future potential and scientific research this ARQ tool is very simple to use and provides the individuals with best stock market recommendations.

This convenient ARQ technology app is thoroughly tested and tried and it outperformed other applications built for similar purposes. So is ARQ the best share market broker? Why don’t you use it and decide 🙂

NPCI to revolutionize Digital Payments in India

Millenials are fickle; they have no brand loyalty is an oft-repeated statement. I wholeheartedly agree with it. If we don’t like something or some other brand offers something better, we switch. We want our work to be completed faster while maintaining the same level quality; if it is also cheaper, that’s a great incentive, too. Which is why; today when we are going to discuss three new financial products launched by NPCI to revolutionize digital payments. I will not appeal to your emotions and tell you it is Made in India or use it to support your country. No, we are going to look at concrete benefits they offer and then make our decision.

So last week, I visited the headquarters of NPCI which is National Payment Corporation of India. To be honest, I didn’t know much about them. I had read a few mentions here and there in the newspaper but beyond that nothing. So what does the NPCI do?

NPCI is a not for profit company and is an umbrella organization for operating retail payments and settlement systems in India. It is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) and their job is to create a robust Payment and Settlement Infrastructure in India. They work on the principles of inclusion and equality and they strive to touch lives of every Indian through their initiatives. Their latest mission is to revolutionize digital payments in India

Table of Contents

Mission to revolutionize digital payments

Of the several products launched by them through the years we are going to discuss two products that have received a lot of attention and appreciation recently. The first being BHIM or Bharat Interface for Money.

So what is BHIM and why should I care about it?

If you want to simplify life, then use BHIM. That is my one sentence answer but I want to talk about it a little more.

BHIM has been designed for everyone. From someone who owns an iPhone to someone who has a basic feature phone. Through BHIM, money transfers are as simple as sending a text message. You can transfer money 24 hours a day for 365 days of the year and the payment is credited instantaneously. You don’t have to wait for hours for your NEFT transfer, you can just do it with a click.

I hear you; you think BHIM is then just like any other e-wallet?

Absolutely no. What differentiates BHIM from all the competition is the fact that you can do direct bank account to bank account transfer using UPI ID or your Mobile number or your Aadhaar number or Account number and IFSC code. Do you now see BHIM ka Dum?

But wait, there is more!

With BHIM, you can generate and share your personalized QR code, get Instant notifications and transaction alerts, access BHIM App in your favourite language.

Do you want more? BHIM will give you more 🙂

BHIM has

Round the clock availability
Single Application for accessing different bank accounts
It uses UPI ID which is more secure, no credential sharing
Single click authentication
You can raise complaint from Mobile App directly

I am sure you are curious about this UPI that I keep mentioning. Want to know more?

Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India. Basically, it allows you to instantly transfer money between any two parties’ bank accounts through your UPID.

UPID is your personal identification code, for example, I can make one that says Munniofalltrades@ABCBank.

But UPI does not restrict its access to people who have a UPID. If you have the account+ IFSC or Aadhaar number, you can still pay them money.

The third product that I will introduce you to is called RuPay. I personally have been using a RuPay card for nearly 6 months now and to be honest I did not know the true extent of its benefits till the NPCI Bloggers meet.

So what is RuPay?

RuPay is a domestic, open loop, multilateral payments system to all banks and financial institutions in India which was launched on March 26, 2012.

It can support Debit, Credit and Prepaid cards.

Okay, so what is in it for me?

When you switch to RuPay, you get a welcome gift voucher from the bank as well as access to exclusive discounts.

All RuPay cards come with an in-built insurance and disability coverage and if you are a platinum card holder, you can access lounges in airports across the country.

It has also tied up with various international network partners and this means you can use your RuPay cards internationally.

The cards have also been enabled for e-commerce transactions using the Pay Secure technology whereby the existing ATM PIN is used for authentication instead of the additional password.

Did I manage to convince you of the many benefits of BHIM, UPI, and RuPay? NPCI ‘s initiative to revolutionize digital payments in India is really commendable. Do let me know over what you think in the comments below 🙂

« Previous Page

Fulfilling my Life Goals one step a time with Bajaj Allianz

Why Investing in a child Education Plan is the Need of the Hour

The importance of early Education planning

The complete guide to home loan in India