Sanjay Matai, The Wealth Architects

The Most Authentic Guide on Personal Finance and Investments

Credit or Debit Card: How To Be A Smart User

Once upon a time... Cash was (the only) King.

Early 90s saw the emergence of a worthy competitor... Credit Card.

And, around 10-12 years back, the third alternative made a debut... Debit Card.

Cash, naturally, everyone understands. The card-based payment mechanisms, however, offer different... yet significant... advantages.

Watch Out! No Home Loan Tax Benefit On House Under Construction

You are, of course, well aware that your home loan enjoys tax benefits. For a self-occupied property, you can claim tax deduction on
a) interest payment (up to Rs.2 lakhs), 
b) principal repayment (up to Rs.1.5 lakhs).

This benefit is available every financial year, till the loan is fully repaid.

However, not many people know, that this rule applies ONLY on the properties ready for occupation.

The Ideal Mutual Fund Investment Platform Is Here

As I have repeatedly pointed out... mutual funds are the best way to invest in equities, debt and gold.

However, the process of investing in mutual funds has not been easy. This is especially true after the Direct Plans were introduced a few years back.

MF Utilities, launched earlier this year, has brought in unparalleled convenience to mutual fund investing (more particularly if you propose to make direct investments).

Wrongful Bank Account Debits? Act Fast To Minimize Loss.

Unauthorized access of bank accounts has become a grave threat in this digital age. Customer complaints on wrong debits, in their bank accounts and credit cards, have witnessed an increasing trend in recent past.

RBI is deeply concerned about this. Therefore, with a view to protect innocent people, it has drafted a circular on Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions; and has sought comments from the public.

RBI's KYC Norms For Bank Accounts Demystified

Complying with the KYC (Know Your Customer) norms is often a big pain. As such, most people hate their bank's (repeated) KYC verification process.

Fortunately, this need not be the case.

All it requires is the RIGHT information about the whole KYC process; and the inconvenience experienced by most customers would become history.

In this blog post, you will know (almost) everything you need to know about the 'Know Your Customer' rules, in just 21 brief key points.

Seduced or terrorized to buy an insurance policy?

I am certain that your bank has sold you, or at least tried to sell you, an insurance policy (even though you didn't need one at all).

And, I am also certain that you were lured into buying a policy, either
(i) by promises of (non-existent) exceptional returns, or
(ii) pressurized by some (non-existent) rules and regulations.

Insurance pays the highest commission to its agents, as compared to Post Office Schemes, Mutual Funds and various other investments. And, this continues year after year, till you are paying your premiums. Naturally, therefore, it is in agent's interest to sell you insurance.

Sachet (Be Alert): Is Your Deposit Scheme Illegal?

As we all know, lakhs of investors (repeatedly) lose crores of rupees... to dubious and illegal deposits.

Greed is the most common cause behind this.

Another important reason, that makes it easy for fraudsters to find numerous gullible investors, is the lack of "genuine" information.

If you are greedy, then 'you' are the ONLY solution. No one else can protect you from the swindlers.

But, if you are looking for the "right" information, there is now one easy answer — Sachet — a website designed to curb illegal collection of deposits.

You Learn A Lot By READING... And Even More By SHARING.

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Ignorance is like a SIGNED BLANK CHEQUE... anyone can MISUSE it.

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