PERSONAL FINANCE


Moneylife Digital Team 05 April 2012
The Union Budget 2012 increased the minimum insurance requirement from five to 10 times the premium to qualify for full tax benefit at entry under Section 80C and at exit under Section 10(10D). There are many existing products like money-back traditional and single premium plans which do not...

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Moneylife Digital Team 05 April 2012
ICICI Bank has launched a new card for the super affluent segment and the Bank’s wealth management clientele called ICICI Bank Sapphiro. The card is linked to a single card account with a single statement and single fee. It provides access to a host of privileges from American Express and...

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Moneylife Digital Team 05 April 2012
In a move that would help a large number of home loan customers to reduce their interest burden, State Bank of India (SBI) has decided to allow them to re-price their existing loans at lower rates. The switchover will be subject to a small fee 1% of the outstanding loan amount. The move is...

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Moneylife Digital Team 05 April 2012
MetLife India Insurance Company has launched Deferred Monthly Income Plan (DMIP). It is not a pension plan which has an accumulation phase and annuity phase. It is a retirement plan which has an accumulation phase of five to seven years and monthly payout phase starting from year 11 of your...

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Moneylife Digital Team 05 April 2012
LIC Jeevan Vriddhi is a classic Jan-Feb-Mar plan for tax-savers seeking to invest up to Rs1 lakh to save income tax under Section 80C. It is a single-premium traditional plan offering guaranteed maturity sum assured (SA) along with loyalty addition (if any) after completion of the policy term...

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Moneylife Digital Team 05 April 2012
Mis-selling is common but so is mis-buying. Savers make dozens of mistakes while buying financial products—partly because they are careless and partly because we humans find it hard to deal rationally with money. A report by Sucheta Dalal, Debashis Basu with Aditya Govindaraj studded with...

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Moneylife Digital Team 04 April 2012
SBI Life Annuity Plus is a competitive immediate annuity product. Immediate annuity plans provide a fixed stream of income at regular intervals throughout the life of the annuitant. The annuitant can subscribe to the plan by choosing a lump sum or the desired regular fixed income for life,...

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Moneylife Digital Team 03 April 2012
The new Fluence will be powered by 1.5 litre diesel engine, which will give a mileage of 20.4 kilometre per litre Car maker Renault India launched a new diesel variant of its premium sedan 'Fluence' in the country, priced at Rs15.2 lakh (ex-showroom, Delhi). "Fluence was the first offering...

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Moneylife Digital Team 29 March 2012
The all new 'iGen i20' from Hyundai will replace the existing i20. Hyundai Motor India (HMIL) has launched a new version of its premium compact car i20 priced up to Rs 7.67 lakh (ex-showroom Delhi). The all new 'iGen i20' will replace the existing i20. The petrol variants of the new...

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Moneylife Digital Team 29 March 2012
IDBI Bank launched the country’s first online G-Sec portal ‘Samriddi’ to enable retailers to purchase government bonds and securities. Observing that retail investors’ participation in government bonds and securities was much lower in India than countries like Japan, Mexico and Argentina,...

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Moneylife Digital Team 29 March 2012
SBI Cards and Payment Services Pvt Ltd launched two new initiatives. The first called ‘No Income Documents’ simplifies procedures for existing mortgage and auto loan customers as it eliminates the need to provide income documents while applying for a new card. Kadambi Narahari, CEO, SBI...

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The press and the media have ignored RuPay, which can bring about a revolution in India. But the ordinary bank customer can help spread the good word The press and the financial and business channels have...

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Anil Agashe 27 March 2012
Goldman Sachs executives invariably described their clients as ‘muppets’, a disparaging term equivalent to ‘bakras’ in Hindi. Indian banks seem to have similar attitude to their customers, according to this first-hand account I am a “classic customer” (whatever that means) of HDFC Bank....

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Moneylife Digital Team 27 March 2012
The South Mumbai District Consumer Disputes Redressal Forum held New India Assurance Co Ltd guilty of arbitrarily hiking the premium and ordered it to refund Rs2,595 with 9% interest (from March 2010), with Rs10,000 as compensation, to Ria Alimchandani. In 2009, Ms Alimchandani was...

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Moneylife Digital Team 23 March 2012
Audi will start selling the car from June this year German luxury carmaker Audi has launched its sports car TT in India, priced at Rs48.36 lakh (ex-showroom). The company will start selling the car from June this year and it will be sold as a completely built unit (CBU). “We are already a...

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Moneylife Digital Team 23 March 2012
IRDA wants softer impact of DTC IRDA has written to the government seeking changes in the provisions of the Direct Taxes Code (DTC) which proposes a minimum level of 20 times the annual premium as cover on a life policy. Currently, an insurance policy with five times the annual premium as...

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Moneylife Digital Team 23 March 2012
SBI General’s tie-up with My TVS and India Assistance ensures that customers get professional assistance and hassle-free services. It also offers an optional add-on cover to vehicles as old as eight years SBI General’s tie-up with My TVS and India Assistance will provide 24x7 emergency...

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Moneylife Digital Team 23 March 2012
Bajaj Allianz Women Critical Illness Plan offers some benefits that are not offered in regular critical illness products. However, there is no competitive advantage with premium pricing Bajaj Allianz Women Critical Illness Plan offers some benefits that are not offered in regular critical...

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Moneylife Digital Team 23 March 2012
Reliance Life Classic Plan-II is a classic ULIP with all its premium charges in line with those of many new ULIPs. It is a classic plan that may be ignored Reliance Life Class Plan-II is a classic ULIP with all its premium allocation and policy administration charges in line with those of...

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Moneylife Digital Team 23 March 2012
Aegon Religare Guaranteed Income offers 7.5% of the sum assured ever year, after the end of the policy premium payment term, until the age of 85. It competes with LIC’s Jeevan Tarang Aegon Religare Life’s new plan offers life cover along with regular guaranteed income. After the end of the...

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