@UniQueme @Tarun You seem to be a Finvasia fan What kind of special services do they offer? I mean sometimes I feel all brokers provide somewhat similar services. Its a matter of satisfaction and support you get.
Posts made by Ishu
RE: Which is The Best Stock Broking Firm in India?
RE: Which is The Best Stock Broking Firm in India?
@Rahul00792 I feel Zerodha and 5paisa are the best stock brokers offering great services to their customers.
RE: What is Zerodha Varsity: Review, App for Simplified Investing
A nice education initiative by Zerodha to create awareness amongst common masses. Firstly, their innovative discount broking model loaded with a bulk pf products and unique features. And, then their easy ways to educate people about investing and trading. Quite impressive!!
RE: What is the most reliable and safest way to build wealth?
@invest19 Very rightly said! But, investing in stocks may not be the best option for all. A lot of risk is involved in direct stock market investing. So, one needs to be cautious and act wisely. What about people who don't wish to take any risk and don't want to put their hands in the dynamic stock market?
RE: What is an IPO or Initial Public Offering?
@DhruvShukla Hi, I also read that huge number of people who had applied for IRCTC IPO waited for their refund to be processed. I think you should contact Alankit, the official registrar of IRCTC. There are various modes to contact them, you can send an email, log into their site or contact them via phone.
For UPI payment gateway option, you can directly call at their helpline number to share your queries.
RE: Fincash Review: How to login and invest in SIP in Mutual funds?
@Anmol Hi, Fincash is a yet another online investing platform that was started in 2016 or you can call it a fintech startup. Having raised funding, it has grown fast to give tough competition to other market players.
I know, there are so many investment platforms these days, one is likely to get confused which one to select.
Briefing you, Fincash is a Mutual fund investment platform that offers simple solutions to your investing needs (as their site says).
Fincash: Key Products
The following are its main attractions:
- Tax Savers
- New Fund Offers
What I like is, they allow you to practice
- Smart Investment: Funds are selected by industry specialists.
- DIY approach: You can explore and choose funds yourself.
Although, its SIP plan sounds attractive, but no one can guarantee high returns in mutual funds. The returns are influenced by market fluctuations.
However, the investing platform looks easy to use and suggests you solutions based on your long term goals.
PPF Calculator: Calculate Maturity & Interest for your PPF Account
You might have read about online PPF calculators available. Do you know what it is and how does it work? PPF calculator refers to the simple calculator that determines interest earned on your investment in PPF account. The basic idea behind PPF calculator is compounding the interest on your investment.
Although, you can exercise this method manually when you have to calculate interest for one year. But, when it comes down to fifteen or ten years, the calculations can be messier. So, to save you from hassle, dozens of online calculators are available for PPF calculation.
What Is Public Provident Fund Account?
In simple words, Public Provident Fund is the saving scheme that helps income class to build the retirement corpus. With this scheme, you can invest your savings for fixed period and will earn the significant amount of interest. For quarter Jul-Sep'19 the PPF interest rate is 7.9% only. That is reasonable!
As mentioned in starting, the Government of India introduced this scheme for encouraging investments amongst different income groups. So, this account can be opened with a low and affordable amount of deposit.
The second attraction to this scheme is the tax benefits. The interest earned is completely tax-free. And, this scheme is backed by the government, so comes with security. No doubt, why PPF is so popular in India!
How to open PPF Account?
PPF is easily accessible. You will face no problem while registering for the account. To open a new account, you have to visit the authorized bank or post office. Simply, get the form, fill it and submit with required documents.
Why Should You Choose PPF Scheme?
Some people don't opt for PPF scheme because they don't know its features and benefits. For your convenience, I have outlined some of them as follows:
PPF Account: Key Features
1. Interest Rate
The Indian Government set the interest rate for PPF periodically, usually annually. You earn interest on investment per annum, and it will compound automatically. The interest rate for quarter Jul-Sep'19 was 7.9% that is pretty good!
To avail the benefits of PPF, you need to keep the account active for fifteen years. It means you need to invest in this account per year for fifteen years. After maturity, you can invest for further five years.
3. Initial Deposit
You can open the account with Rs. 100.
4. Minimum/Maximum Annual Deposit
To keep the account active, you have to make a deposit every year. The minimum amount is Rs. 500 and the maximum are Rs. 1.5 lacs per years. You can make deposits with a cheque, cash, PO, online funds transfer and DD, etc.
Withdrawal is allowed after maturity. Well, premature withdrawal can be made, but on certain conditions and after seven years from opening date. Otherwise, premature withdrawal is not possible!
6. Tax Advantages
The tax rebate is the main attraction of PPF. The interest earned is completely tax-free.
How To Calculate The Interest Using PPF Calculator?
Calculation of PPF interest is not difficult. So, what is the exact algorithm of PPF calculator?
As mentioned earlier, the interest will be compounded annually.
For instance, you have made the initial investment of Rs. 1.5 lac. So, you will calculate the interest on Rs. 1.5 lacs at the rate of 7.9% only. Pretty easy right! Now, we have to compound it. Next year, you will make an investment of Rs. 1.5 lacs again. Now, the rate will be applied to the sum of previous year's balance including interest earned and current year's balance. And this process will be continued for fifteen years.
Don't indulge in this hassle. Dozens of online calculators are available. Just Google it and calculate the interest for any amount of deposit.
Wish to learn more about it, here's a complete guide to PPF.
Which PPF Calculator have you tried? Do share your feedback.
RE: Best Intraday Tips App for Indian Stock Market
@ishaantsingh013 Hi Ishaant, You seemed to have done a lot of research on Intraday trading and related apps. There's another good one "StockEdge" App also. One of the popular Stock market analytics app in India. I like this personally.
You can get regular updates, technical & fundamental analytics through this stock trading app.
RE: What is full form of ELSS? Meaning
@DhruvShukla Well said! But, don't you think the introduction of Capital gain tax on Equity funds has somehow affected the popularity and charm of ELSS? It used to be a great tax saver option earlier. For claiming Tax deduction under section 80C we have other investing options.
ELSS used to outshine the rest of investing options due to its tax free nature previously. This is not so now. What do you think?
RE: Groww Review: Invest in Mutual Funds through Groww App
@Smart2Investor @Tarun @Sandra @ashish001 @GURUMOORTHI-G Have you read Groww wealth investment platform has raised another round of funding: Series B funding. https://yourstory.com/2019/09/funding-fintech-groww-ribbit-capital-sequoia-india-y-combinator
Wow!! I mean this can really make the company lead ahead of other similar players and competitors. The Groww paltform already has around 2.5 million users. I wonder at what robust pace it will groww now
What do you think? Waiting to hear your opinions.