Pradhan Mantri Vaya Vandana Yojana (Modified- 2020) Scheme
Pursuant to Finance Ministry modified the PM Vaya Vandana Yojana (PMVVY) pension scheme for senior citizens, Life Insurance Corporation of India (LIC) has launched the non-linked, non-participating, pension plan subsidized by the Centre. The scheme will provide an assured rate of return of 7.40% per annum. This plan will be available for sale commencing from…
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Benefits of Investment in PPF Account
PPF – TAX rule (EEE): Investment in PPF is eligible for tax exemption u/s 80C IT act. Income is exempt from tax, and Redemption proceeds are not added to tax PPF is one of the top-ranked investments all these years because of the following advantages. The balance available in PPF account is free from court…
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A comprehensive overview of bank Deposits: Various account types, their features
[This post answers questions about the rules related to addition or deletion of names in FD, TDS in case of joint accounts, interest calculation in leap year, conditions for deposits held in minor’s name, transfer of fixed deposits, interest payment on prematurely closed deposits, renewal of Overdue deposits, and deposits in the joint names of…
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Overview: Wealth Management Process
The wealth management process is a structured and comprehensive approach designed to help individuals achieve their financial objectives. It integrates various aspects of financial planning, investment management, and tax optimization to deliver personalized financial solutions. The process typically involves the following key stages: 1. Assessing the Client’s Current Financial Position This foundational step involves a…
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Understanding Senior Citizens’ Savings Scheme -SCSS
Originally posted on October 26, 2022, updated on June 4, 2025 The Senior Citizen Savings Scheme (SCSS) is a government-backed savings plan designed for individuals aged 60 and above, or those aged 55-60 who have retired. It offers a fixed interest rate (currently 8.20%) and allows for either individual or joint accounts (with spouses). The…
Investment Planning for Retirement: Make Informed Choices
Retirement can be great joy all through your life if you have sufficient money to spend. One of the greatest difficulties after retirement you may face is handling of lump-sum money you have received from PF, Gratuity, Leave encashment, commutation of pension etc. Retirement planning begins with determining your long-term financial goals and tolerance for…
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