PERSONAL FINANCE


Moneylife Digital Team 08 February 2012
Needs to offer decent bonus to help save for child’s education Aegon Religare’s Educare is a traditional child plan platform, offering insurance cover along with savings. Traditional child plans are popular due to secured returns, even if they are low. This is due to the appeal that parents...

Read More



Moneylife Digital Team 06 February 2012
According to sources, the Bank's MD & CEO has resigned due to serious differences with other Board members Dhanalaxmi Bank Ltd's managing director and chief executive, Amitabh Chaturvedi has resigned from the bank. The Bank’s board of directors are meeting today at 4pm and may declare...

Read More



Health insurance claims data shows that as the sum insured increases, so does the average claims size. Co-payments brings partial responsibility of payment and hence scrutiny of bills by the insured. Are co-pays the new weapon to fight excessive hospital charges? Health insurance claims data...

Read More



Moneylife Digital Team 03 February 2012
Government-owned IDBI Bank Ltd has launched India’s first online retail G-Sec portal. The portal provides an opportunity for retail investors to buy and sell government securities (G-Secs). G-Secs are bonds issued by Central and state governments. The portal became operational on 17 January...

Read More



Moneylife Digital team 03 February 2012
If you are an account-holder of HDFC Bank, be prepared to pay Rs50 per quarter for a non-operational account of over a year and Rs25 for depositing cash of over Rs1 lakh. The Bank’s order came into effect from 1st January. Though there is no cash-handling fee for deposits of up to Rs1 lakh in a...

Read More



Moneylife Digital Team 03 February 2012
On 10th January, prime minister Manmohan Singh announced a new Pension and Life Insurance Fund (PLIF) for overseas Indian workers that would allow over five million workers, especially those working in the Gulf states, to save money for the future. PLIF, which was recently cleared by the...

Read More



Moneylife Digital Team 03 February 2012
The State Bank of India (SBI) has cut down the processing fee on home loans above Rs75 lakh to Rs10,000 from Rs20,000, while for loans between Rs30 lakh-Rs75 lakh, the fee has been reduced to Rs6,500 from Rs10,000 earlier, a senior SBI official said. The new fee structure became applicable...

Read More



Moneylife Digital Team 02 February 2012
The new Maruti Suzuki Swift DZire is wider, taller, has a larger wheel base and is yet compact as compared to the existing Swift DZire.  The new Swift DZire is more fuel efficient by almost 7% in petrol and 8% in diesel. Car market leader Maruti Suzuki India Limited, unveiled its much awaited...

Read More



The RBI has allowed other private sector banks to handle government business but a few more steps are required to ensure a level playing field for all players for healthy growth of banking in India The Reserve Bank of India (RBI) has just issued a notification whereby private sector banks are...

Read More



Health insurance claims data suggests average cashless amount of Rs45,000 compared to average reimbursement claim amount of Rs25,000. The insurance company trend of going for in-house claims processing is to help in better bargaining with hospitals for procedure rates Insurance companies are...

Read More



Moneylife Digital Team 27 January 2012
If you have already retired or are approaching retirement, what should you do to make yourself safe & smart regarding healthcare, regular income, living space, insurance and financial products? A Moneylife Special Report Retirement is a paradoxical word. It could conjure a vision of...

Read More



Kamalji Sahay, managing director and chief executive officer, Star Union Dai-ichi (SUD) Life ML: Will having a pension annuity product necessarily from the same insurer who serviced the accumulation phase be restrictive? KS: It is not restrictive. It is good for customers if the same company...

Read More



Moneylife Digital Team 25 January 2012
High ticket size of Rs1 lakh This is a single-premium, guaranteed-return product which offers tax benefit at entry under 80C and at exit under 10(10)D. Growth of corpus will be fixed over 10 years for all age brackets. Between ages 8-36, it is 1.90-1.97 times, between 37-47 it is 1.70-1.89...

Read More



Moneylife Digital Team 25 January 2012
Traditional plan; opaque charges Edelweiss Tokio Life Education Plan is a child plan that ensures guaranteed payout on maturity. The idea is that your child’s education should not suffer due to death of the insured. The product pays a lump-sum amount of SA on death of the life insured. The...

Read More



Moneylife Digital Team 25 January 2012
Innovative option, of course, at a price IDBI Federal Life Insurance launched Childsurance Dreambuilder Insurance Plan, for parents to build an education corpus for children aged between one month and 17 years. Child plans offer ‘waiver of premium’ (WoP) wherein the future premiums are...

Read More



LIC Jeevan Ankur is new addition to its existing bouquet of eight child plans. It offers inbuilt income benefit in case of death of the policyholder, paying 10% of the sum assured every year till the end of the policy term LIC (Life Insurance Corporation of India) has launched Jeevan Ankur, a...

Read More



IRDA has approved a product whose brochure does not mention critical information of premium waiver in case of death of policyholder. While the company’s intent may not be in doubt, ambiguity is not good for insurer and the insured Aegon Religare recently launched Educare, a traditional child...

Read More



Will RBI look at some of these banking practices? There is a variety of anti-consumer banking practices that the Reserve Bank of India (RBI) must address. For instance, banks gleefully charge BPLR (benchmark prime lending rate)-linked interest rate to their borrowers, every time the RBI hikes...

Read More



Moneylife Digital Team 19 January 2012
RBI has allowed cooperative and primary urban cooperative banks to fix interest rates on various non-resident deposit schemes. Extending the ambit of its recent decision to deregulate deposit rates, RBI said, “Banks are free to determine their interest rates on both savings deposits and term...

Read More



Moneylife Digital Team 19 January 2012
RBI barred non-banking financial company Money Masters Leasing & Finance (MMLF) from accepting public deposits as well as from selling, creating a charge or mortgage or dealing in any manner with property and assets for six months for violation of directions on deposit acceptance. “It was...

Read More

Free Helpline
Legal Credit
Feedback