The new fund offer will open on September 26 (Monday), and close on October 7. The minimum application amount for the Motilal Oswal Gold & Silver ETF FOF is Rs 500, followed by a multiple of Re 1.
FD rates for senior citizens: Lenders such as HDFC Bank, ICICI Bank, IDBI Bank, SBI had introduced special fixed deposit schemes for investors above 60 years during the Covid-19.
Fixed deposit schemes: When it comes to investment and long-term savings schemes, fixed deposits are still the most popular instrument for risk-averse people. One should note that like all other investment options, returns on FD schemes are taxable.
National Pension Scheme: As per the new rule, the timeline for execution of withdrawal requests under the NPS account has been reduced to T+2 from a T+4 basis.
As per the bank's website, it is offering rates ranging from 2.75 per cent to 5.75 per cent for FD schemes below Rs 2 crore. The new rates are effective from September 20, 2022.
Bank of Baroda has increased interest rates of fixed deposits by up to 20 basis points (bps) across tenors for amounts less than Rs 2 crore, while Hawkins tweaked its FD rates after keeping the rates unchanged from last year despite a hike in key rates
National Pension Scheme: As per financial experts, NPS is one of the most effective long-term investments for one’s retirement, and also offers decent tax benefits. Here are steps you can follow in order to open an account.
Now, the exit form of NPS will be treated as proposal form for purchasing annuity, thereby reducing the time and efforts of senior citizens as well as insurers.
Under Saral Pension, the modes of annuity available are yearly, half-yearly, quarterly, and monthly. The LIC in its policy document states that the annuity rates are guaranteed at the inception of the policy and annuities are payable throughout the lifetime of the policyholder(s).
Insurance policies in Demat format: With this rule, policyholders can have only one e-Insurance Account with an insurance repository of their choice.
Gold prices on September 9 are at Rs 51,000 for 10 grams of 24-carat, and Rs 46,750 for 22-carat. Silver prices increased by Rs 1,400 per kg, with the metal trading at Rs 54,200.
ICICI Bank FD rates: ICICI Bank will offer interest rates between 2.75 per cent and 6.10 per cent for tenors from 7 days to 10 years for regular citizens. The rate for senior citizens is slightly higher and ranges from 3.25 per cent to 6.60 per cent.
For the general investors, Axis Bank is offering fixed deposit rates of 2.5 per cent to 5.75 per cent for schemes maturing between 7 days and 10 years, whereas for senior citizens the rates are a bit higher and are between 2.5 per cent and 6.5 per cent.
New rule for mutual fund subscribers: According to Sebi, AMCs will have to provide an option to the subscribers to submit either the nomination form or the declaration form for opting out of the nomination in physical format or online format as per the choice of the unit holders.
Gold, Silver Price on September 8: Domestic gold prices dipped yesterday with MCX gold futures sliding by 0.48 per cent and touching Rs 50,038 per 10 grams. White metal futures dropped 0.72 per cent to Rs 50,038 per kilogram.
LIC New Pension Plus Plan: Investors can either buy a single premium payment policy or a regular premium payment. The pension plan can be later converted into regular income by the purchase of an annuity plan once the term is over.
Domestic gold prices on September 7 surged even though most of the commodities in the non-agro segment saw a decline in the past few weeks. In the international market, gold prices dipped on Wednesday as the US dollar got stronger and Treasury yields rose.
The young scions of family business houses are managing family offices and are typically more adventurous with riskier investments such as putting money in seed-stage start-ups, unlisted companies, newbie venture funds and greenfield real estate projects among other things, says Soumya Rajan, Founder & CEO, Waterfield Advisors, one of the largest multi-family office firms of India.
Gold rates for 22-carat gold were Rs 46,750 per 10 grams on September 6, while silver was at Rs 53,200 per kilogram in all major cities. The MCX gold futures climbed by 0.33 per cent.
Personal finance: The sooner you start financial planning, the earlier you can retire. However, if you missed the bus of starting early and are now 35 but still want to save Rs 5 crore for retirement at 45 years, then you need to save Rs 2,17,355 lakh each month in the next 10 years.
Both Axis Silver ETF and Axis Silver Fund of Fund will be benchmarked against the LBMA Silver daily spot am fixing price. Both new fund offers (NFOs) will be open for subscription on September 2 and close on September 15.
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