Invest Time And Money

Time is Money. People rarely realize how true this is! It is important to invest as early as possible for the future. People in their 20s and 30s don't think about investing because they think this is the time to enjoy their money. Little do they know how much of a difference it makes in the long run. You will realize the difference if see the chart ......

BankEffectiveFrom
Andhra Bank August 8th, 2014
Bank of Baroda November 1st 2014
Bank of India Febuary 20th, 2014
Bank of Maharashtra September 22nd, 2014
Canara Bank October 1st, 2014
Central Bank of India 3rd April, 2013
Central Bank of India 2nd April, 2013
Corporation Bank November 1st 2014
Dena Bank November 1st 2014
Indian Overseas Bank September 29th, 2014
Punjab and Sind Bank September 23rd, 2014
Punjab National Bank October 10th, 2014
Syndicate Bank October 10th, 2014
Union Bank of India November 11th , 2013
United Bank of India May 1st, 2014
Vijaya Bank September 6th, 2014
State Bank of Hyderabad November 1st 2014
State Bank of India October 7th, 2014
State Bank of Travancore April 1st, 2014
Deutsche Bank July 10th, 2014
Barclays Bank August 1st, 2014
Citi Bank November 1st 2014
Standard and Chartered Bank April 1st, 2014
HSBC Bank India October 18th,2014
Axis Bank November 1st, 2013
City Union Bank September 15th, 2014
Allahabad Bank March 4th 2014
HDFC Bank September 17th, 2014
ICICI Bank 16th August , 2013
IDBI Bank January 16th, 2014
IDBI Bank January 1st, 2014
IndusInd Bank October 1st, 2014
ING Vysya Bank August 26th, 2014
Karnataka Bank October 15th,2014
Kotak Mahindra Bank November 21st, 2013
Tamilnad Mercantile Bank Limited October 13th,2014
The Catholic Syrian Bank June 25th, 2014
The Jammu and Kashmir Bank Limited December 27th, 2013
The Karur Vysya Bank Limited July 14th, 2014
The Lakshmi Vilas Bank September 15th,2014
South Indian Bank Limited March 1st, 2014
TNSC Bank May 14th, 2013
TNSC Bank May 14th, 2012
DBS India November 1st 2014
Post Office April 1st, 2013
Yes Bank 1st August, 2013
State Bank of Mysore March 4th, 2013
Development Credit Bank Ltd. July 7th ,2014
State Bank of Bikaner and Jaipur September 1st, 2014



How Franklin India Blue Chip Fund has performed from 2001 to 2011

You can find how investment of Rs.1000 per month in Franklin India Blue chip fund has performed over 11 years starting from January 8th 2001 to December 8th 2011. As can be seen the investment of Rs 1,32,000 has grown to 4,85,404. In this entire period of 11 years the value of investment went below the original investment only for just 7 months of the total 132 months.


Financial Education

Our goal at Way2goals is to help readers take well informed decisions before investing in financial products.


How to insure your bank deposit?

Check with the bank if it is insured with Deposit Insurance and Credit Guarantee Corporation (DICGC).

Each depositor in a bank is insured maximum of Rs. 1 lakh inclusive of principal and the accrued interest. All the Deposits savings, Fixed, current and recurring collectively kept in different branches of of one bank will be aggregated and maximum insurance cover of Rs. 1 lakh is paid, as all these accounts will be considered as the accounts held in the same capacity and in same right. Putting money in different branches of one bank will not protect your money of more than 1 lakh. Then how do we safeguard our deposit? Is there a way to secure your money of more than Rs. 1 lakh. Yes.

For e.g. Ramesh and Sudha have two children, Kartik and Veena. How is it possible to secure your money in one bank? You can open accounts with different combinations. In case children are minor, check with the bank.


First holder

Second holder

Savings a/c

Fixed Deposit

Current a/c

Total Deposits Rs.

Deposits Insured Rs.

Ramesh

Sudha

10000

50000

20000

80000

80000

Sudha

Ramesh

5000

200000

5000

210000

100000

Ramesh

Kartik

5000

30000

5000

40000

40000

Ramesh

Veena

2000

100000

5000

107000

100000

Sudha

Kartik

1000

5000

-----

6000

6000

Sudha

Veena

2000

-----

10000

12000

12000

Kartik

Ramesh

-----

-----

5000

5000

5000

Kartik

Ramesh

2000

1000

-----

3000

3000

Veena

Ramesh

10000

100000

5000

115000

100000

Veena

Sudha

5000

80000

20000

105000

100000


For more information and detail check with RBI. http://www.rbi.org.in/scripts/FAQView.aspx?Id=64

One more way of securing your deposit is open accounts in different banks. If you have accounts in different banks, then the deposit insurance coverage will be Rs. 1 lakh in each of the bank.



How important is it buy term insurance?

How do you manage the risk of untimely death of the bread winner of a family? The thought itself is scary. The loss can't be filled of course, but the financial condition of the family may not get affected badly if proper term insurance is bought. Term insurance is an excellent financial product to manage this risk. One Thumb rule commonly suggested is that the sum assured should cover all liabilites such as home loan, car loan and any other loans plus 10-20 times the annual expenses of the family. Unlike ULIP and endowment policies Term Insurance policies are much cheaper....