Different Schemes Offered By The Post Office Of India

Different Schemes Offered By The Post Office Of India

A post office offers different sorts of store schemes for financial specialists. These are otherwise called little savings schemes. The USP of these schemes is their sovereign assurance, i.e., it is upheld by the local government. A portion of these schemes, for example, NSC likewise offer tax-saving advantages under segment 80C of the Income-tax Act. 

The interest rate offered on these schemes is audited and fixed quarterly by the administration. The legislature has kept the interest rate unaltered for the quarter between January and March 2020. The interest rates are presently due for a survey in March 2020. Here is a glance at these schemes: 

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Senior Citizen Savings Scheme (SCSS) 

Senior residents matured 60 years or above can put resources into this plan to gain customary interest pay. Interest in stores under this plan is payable quarterly. There is a lock-in time of 5 years for the head yet untimely withdrawal is permitted after the fulfillment of one year in the wake of taking care of a punishment. Presently, the greatest that can be put resources into this plan by any individual has topped at Rs 15 lakh. 

Sukanya Samriddhi Yojana (SSY) 

The plan goes under the ‘Beti Bachao Beti Padhao’ battle. The plan appreciates exempt-exempt-exempt (EEE) tax status. The investment sum, the interest earned and development sum are exempted from tax. Guardians or legitimate gatekeepers can open just one account for every young lady kid and a limit of two accounts for the sake of two distinctive young lady kids. 

Public Provident Fund (PPF) 

PPF is another mainstream investment road that has an EEE tax status. The plan has a lock-in time of 15 years yet halfway withdrawal is permitted from the seventh year. The advance facility is additionally accessible from the third year. Snap here to realize how to open a PPF account. A PPF account can’t be appended by an individual or substance in lieu of unpaid obligation or risk. 

Post Office Monthly Income Scheme (POMIS) 

POMIS just offers month to month interest installments to speculators. People (separately or jointly) or minors matured 10 years or more can put resources into the plan. The plan has a residency of five years. The interest will be auto-credited into the financial specialist’s savings account at a similar post office. The untimely withdrawal facility can be benefited after the finishing of one year by paying some corrective sum. 

Post Office Recurring Deposits (RD) 

To contribute little fixed measures of cash at customary interims, one can open a 5-year RD account with the post office. There is no restriction on the number of accounts that can be opened. There is a default expense of Rs 0.05 for each Rs 5 of the store. After 4 customary defaults, the account will be suspended however can be restored inside two months. 

Kisan Vikas Patra (KVP) 

On the off chance that you wish to twofold your investment sum, at that point you can hope to put resources into KVP. Concerning other little savings schemes, the pace of interest is evaluated quarterly by the legislature and the timespan in which the cash contributed copies, along these lines, shifts with this interest rate. The rate and the timeframe ordinarily stay fixed for one quarter.

If you have opted for any of the above-mentioned schemes from post office you should take out some time and  Calculate Monthly income scheme by Post office to review your monthly earnings on your investment amount.

Make Your Retirement Peaceful With the Systematic Withdrawal Plan

Make Your Retirement Peaceful With the Systematic Withdrawal Plan

Retirement is an unpleasant truth of life that can’t be changed or disregarded. Individuals buckle down in their pre-retirement period to store up a decent sum before they arrive at a brilliant age so as to spend a straightforward post-retirement life. This procedure of social event the capital is known as amassing. When you really resign and start gathering capital from different ventures for usage or allotment is the dispersion stage. 

The two stages hold their significance time permitting, yet the appropriation stage consistently has a more grounded case. Two in number motivations to help this are — first, shrewd arranging of the collected riches in danger free places and second, keeping up a normal income to manage the expansion affected costs. The hardship is the point at which you realize you are not an administration worker who approaches standard income as an annuity. 

Things being what they are, how might you savor and consume a tranquil time on earth after retirement? The ideal answer for this might be utilizing SWP or Systematic Withdrawal Plan gave by mutual funds. 

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What Procedure Is Required to Avail the Benefits of SWP? 

Financial specialists are required to initially move the gathered add up to an okay venture store and afterward, apply for an SWP plan for customary withdrawal. The vast majority of the resigned individuals lean toward moving their ventures or gathered corpus to safe choices which incorporate obligation mutual funds, retirement plans, and so forth. Then again, a few retirees who can bear high hazard decide to move their collected corpus imbalance so as to stash in more significant yields and keep up normal income. Finally, speculators can choose the date and recurrence of withdrawals. 

 

The Tax Advantage 

At this point, we realize that SWP is an inversion of SIP (Systematic Investment Plan) and since it is viewed as reclamation, it is additionally exposed to impose. To see how to assess counts are conveyed in SWP, let us envision a situation wherein a resigned authority has gathered a corpus of Rs 1 crore with him, however, he isn’t certain about how to give this cash something to do. 

The estimation is accomplished for one year on the corpus of Rs 1 cr. The premium earned on FD is 7.2% (which makes the month to month enthusiasm of Rs 60,000) and the withdrawal sum in SWP is kept Rs 60,000 every month from value reserve and obligation funds. Notwithstanding, the normal yearly profit for the rest of the equalization is thought to be 12-15% in value and 8%-10% underwater ventures. This is an extra advantage of interests in value and obligation funds, yet such advantages are not considered in the assessment correlation. 

 

SWP charge computation on SWP equity & debt funds v/s FDs For 1 entire year :

 

Equity fund – 60,000*12 = 7,20,000 

> 1,00,000 (Exempt from Tax as per LTCG) 

> 6,20,000 (Taxable Amount)

> 10% of 6,20,000 = 62,000

 

Debt Fund –  60,000*12 = 7,20,000

> No Exemption

> 7,20,000 (Taxable Amount)

> 20% of 7,20,000 = 1,44,000

 

FD’s – 60,000*12 = 7,20,000

> No Exemption

> 7,20,000 (Taxable Amount)

> 30% of 7,20,000 = 2,16,000
It is clear that long term capital gains under the systematic withdrawal plans are the best-suited option for all the retired employees to enable tax benefit. If you still confused about the SWP amount try an online SWp calculation function for this purpose. You can VISIT THE TOOL here.

Best Side Income Sources In 2019

Best Side Income Sources In 2019

Do you want to generate some extra income for yourself? Are you looking for opportunities for side income? If yes, you have come to the right place. In this post, I’m going to share some of the best sources of online income that you can use to generate some good income on the side regularly. Some of these income sources are so easy that you can start working on them immediately. You don’t need any special skills to get these done. All you need is some passion and a little bit of smart work.

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Read on to find out what these sources are and how you can make a decent side income using these.

1. Creating apps

One of the best ways to generate some extra income on a regular basis is to create and launch apps on the Playstore and App Store. Apps are always in demand. Once you monetise your apps, you can make some good earning from them and you can do this for a long time.

2. Blogging

All of us have something that we are interested in and can talk about continuously. Blogging is about expressing your thoughts about what you love. You can share your articles on your blog and monetise it to create a regular stream of income. This is actually one of the most interesting ways to get a decent side income.

3. Investing

If you’re interested in making your money do all the hard work for you, stock investments and mutual fund investments are really good options. This can help you get a regular flow of income that you can use for your other businesses or your savings.

4. Selling books online

Another great way to earn online is to sell ebooks. You can create ebooks on anything that you’re interested in and promote them on your blog or social media accounts. This will help you enjoy some extra bucks every single month.

5. Affiliate Marketing

Affiliate marketing is one of the most common ways to make side income in 2019. There are many affiliate programs today that offer good commissions on sales. You can join these affiliate programs to generate regular income.

6. Dropshipping

Dropshipping is another interesting means of extra income. You can create a dropshipping store and promote it to get customers. This can be a great way to get some extra income.

Bonus tip:

Use credit cards while shopping. This can help you save a good amount of money. Here are some of the best credit cards in India you can get today. 

These were some of the best ways to earn some extra cash in 2019. Which of these methods are you going to try? Do you have more ideas for generating extra online income? Do let us know about it.

We hope you found this post helpful and informative. Let us know your thoughts and suggestions in the comment section below. Also, let us know if you have any questions or suggestions for us. We will be glad to address your queries. Thank you very much for reading!

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Which is the highest currency in the world?

Which is the highest currency in the world?

The top economists of the world are in a state of shock seeing the growth of the developing economies of the world, especially India. While there are reasons for the development of a nation in terms of economic prosperity and GDP growth, a lot of people search for the highest currency in the world.

So, which currency holds this status? Read on to find out.

There are more than 150 nations in the world which have their own currencies. Some of these nations are growing rapidly economically. People think that economic growth is the only factor for the growing value of the currency of a nation. While this is true to some extent, there are actually many other factors which add up to make a currency strong or weak.

According to a recent report, the Kuwaiti Dinar is the highest currency in the world. There are many reasons for the growth of this currency. The major reason for this is mentioned below:

One of the major reasons for the growth of the Kuwait Dinar is that ruling authority in the country has made it a rule that whichever country wants to buy oil from them has to buy in Kuwaiti Dinar. This way their currency remains in their country and buyers buy their currency in huge amounts. This is one of the main reasons behind such a high value of the Kuwaiti Dinar.

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Most people think that the currency with the highest value is the US Dollar or the Euro. There is so less popularity of the most valued currency in the world that the general people have no idea about it. Ask any Tom, Dick or Harry about it and they will tell you that the US Dollar is undoubtedly the most valuable currency in the entire world. The reason for this kind of perception among the masses is because of the fact that the US Dollar has popularity all over the world, unlike any other currency. The US is a wealthy nation just confirms this theory in people’s minds.

This article has in a way busted a myth which has been believed to be true for so long. There is a lot that I could tell you about the Kuwaiti Dinar and the US Dollar. However, for the sake of keeping this article short, I have demonstrated the main point that serves as an answer to the question which is the topic of this article.

I really hope you found this post useful and informative. Do you have any queries or suggestions related to this post? If you have any, feel free to leave your thoughts and opinions in the comment section below. I will try and answer all your questions and take your feedback into consideration. Also, let me know if you want to find out more about the most valued currency in the world. I will be glad to share more insights with you.

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Top Instant Cash Loan Apps in India

Top Instant Cash Loan Apps in India

In this age of digital economy, there is a solution for most of our day to day problems. One of the biggest problems faced by millennials in India is the problem of financial shortage. There are times when you have to fulfil a certain need for yourself or the family and you do not have a clue where to arrange the money from. While there is the option of getting loans from banks, we all know how cumbersome the whole process can be. Moreover, it is not the most viable option for short term financial emergencies.

Since this is a big problem for the general Indian person, a lot of Fintech companies have come up with a solution to this in the form of instant cash loan in India. These companies have launched their services as apps so that people can easily get access to them and make use of the services.

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So, here are the top apps which provide instant cash loan in India.

1. EarlySalary

Founded by Akshay Mehrotra in 2015, this Pune-based company gives instant loans to borrowers. The borrowers then get the option to return the money through EMIs that range from 7 to 50 days.

2. CrediFiable

Founded by Presha Paragash in 2017, CrediFiable is a Bengaluru-based Fintech that offers personal loans ranging from 5000 rupees to 5 lakh rupees. You can then repay the loan through EMIs.

3. PaySense

Founded by Prashanth Ranganathan and Sayli Karanjkar in 2015, this Mumbai-based company offers instant loans that can be paid back through timely EMIs.

4. MoneyTap

Founded by Anuj Kacker, Bala Parthasarathy, and Kunal Varma in 2015, this Bengaluru-based company gives instant loans up to 5 lakh rupees. The repayment of the loan can be done through easy EMIs over a period of 2 to 36 months.

5. CASHe

Founded by V. Raman Kumar in 2016, this Mumbai-based Fintech company has a unique concept. It uses something called Social Loan Quotient and curates credit profiles of salaried employees using social media platforms that help them in instant loan disbursement.

6. InstaPaisa

Founded by Rohit Agarwal and Nikhil Sarma, this Delhi-based company does the job of connecting borrowers with lenders that results in instant loan transactions.

7. Flex Salary

Founded by Anil Pinapala and Srinath Kompella, this Hyderabad-based company offers one of the top instant loan apps in India. It lets you borrow loan amount of up to 2 lakh rupees.

These were the top apps that offer instant loan in India. While there are a lot of other apps and services that provide personal loans, these were the one that made it to our list.

Hope you found this post helpful and informative. If you have any questions or suggestions related to this post, please let us know about it in the comment section below. Also, if you want to know more about cash loan apps, feel free to reach out to us. We would be glad to help you.

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Top 6 Business Ideas For Indians

Top 6 Business Ideas For Indians

One of the best things about the human species is that we are full of ideas. Ideas make the world a better place to live. It is the core of a successful business. Everyday a lot of people start new businesses and fail miserably. While there are many factors for the failure of a business, lack of the right business idea is a factor that accounts most for the failure of any kind of business.

Even before starting a business most people fear about the end result. This is what makes them fail. When you have the right business idea and you are sure about doing it, there is nothing that can stop you from being successful in your business. Here are 10 successful business ideas that you can think about trying out.

1. Recruitment Agency

One of the biggest problems in India is unemployment. The growing rate of unemployment makes it a good opportunity for starting a recruitment agency.

There is not much investment that goes into starting a recruitment agency. Companies are ready to pay a good amount of money for getting the right candidate for their firm. This is a really good opportunity for business in India.

2. Restaurants

This is one of the most successful business ideas today. If you are someone who is passionate about food and like to serve others healthy and tasty food, this is the business for you.

A lot of people do not have the time to prepare meals at home and prefer eating in restaurants. This is the reason why a lot of restaurant businesses are doing so well.

3. Retail Garment Store

There is a reason why retail garment stores are very common – they are profitable. The profit margin from this kind of business is really high. There are many options for opening retail garment stores in India. Becoming a franchise for a popular garment brand is a good approach for getting success in this business.

Patanjali Paridhan franchise is a great opportunity for starting a profitable garment business in India. You can now apply for Patanjali Paridhan franchise and open a store right in your city/town.

4. Travel Planner

This is a great business idea if you have the right geographical knowledge. You will need a lot of contacts and might have to tie up with major online portals for making your travel planner business a success.

Considering the fast growth of the travel industry in India, this could be one of the most profitable businesses in India.

5. Wedding Planner

Weddings in India are a matter of huge expenses. People are ready to spend a lot of money to make a wedding event successful. Wedding planning is the right business for you if you have creative skills and management ability.

6. Coaching Classes

For a country obsessed with education, coaching classes are a really good opportunity. The level of education in India has got really high and parents want their children to be at the top. This is the reason parents prefer sending their children to coaching classes.

Hope you found this post helpful. Let us know your thoughts in the comment section below.

What Is Financial Management

What Is Financial Management

This article covers in detail the concept of financial management. Finance is the soul of any business. It is not possible to operate any form of business without finance. The concept of financial management is very wide. The main goal of financial management is to maximize the corporate value while reducing risks in the business operation. Read on to understand the concept of financial management in detail.

The concept of Financial Management:

The concept of financial management covers segments like planning, organizing, controlling and directing all kinds of investment decisions in order to help businesses attain their goals. To help achieve these goals various tools are used. Most of these tools are for statistical and economic calculations. In other words, financial management is a method of making the best use of financial resources for the better of the organization.

Financial management is implemented across various sectors of government and non-government organizations today. This indicates the importance of financial management in today’s world. Financial management involves taking three important decisions. These are as follows:

  1. Investment decisions:

Investment decisions are the decisions which are taken with regards to investments in current assets and fixed assets. Decisions regarding efficient allocation and use of capital are considered as crucial investment decisions. Basically, Investment decisions can be categorised into two broad categories:

  • Investment in own business
  • Investment in outside business

Read more about it here.

  1. Financial decisions:

It is concerned with the borrowing and allocation of funds for Investment Decisions. There are two sources involved in financial decision using which funds can be raised – using the company’s money in the form of share capital or borrowing funds in the form of loans, debentures, etc.

  1. Dividend decision:

The dividend decision is a crucial decision that a financial manager has to take. The financial manager has to take decisions such as:

  • Should the profits made be put back into the business to finance investment decisions?
  • Should any dividend be paid? If yes, how much dividend should be paid?
  • In what forms should the dividends be paid?

These are the three important decisions that have to be taken by the financial manager. A proper risk analysis has to be done by the financial manager while performing these three functions. Steps have to be taken to understand the debt-equity leverage, currency and interest rates and other minor details in order to reduce risk. A financial manager has to always stay ahead of the curve when it comes to implementing the best practices for the interest of the company. Check this website to know about the least valued currencies in the world and get updates from the world of finance.

We hope you found this post useful and informative. If you have any queries and suggestions regarding this post, please let us know about it in the comment section below. Also, let us know if you want to know more about Financial Management. To show your support, share this post with your friends on social media and elsewhere. Thank you very much for reading.

7 Passive Income Ideas (That Work)

7 Passive Income Ideas (That Work)

Everybody wants to get rich, but very few know the tricks for generating consistent wealth and making it grow. In this article, we are going to talk about some of the most profitable passive income ideas you can start implementing and generating a regular income. These are simple yet effective steps that can make you more money than you can think of. So, here are 7 actionable passive income ideas that you can start working on.

  1. Build apps

One of the best sources of passive income is to build apps for Android and iOS devices. With the increase in mobile phone purchase and the ever-increasing reach of the internet, mobile phone apps are one of the best ways to generate regular passive income.

  1. Build websites and blogs

Websites and blogs can be great sources of passive income. When you have a good amount of traffic coming to your website on a consistent basis, you can make a good living out of it.

  1. Invest in stocks, bonds and mutual funds

You can use your ideal money as a tool for wealth generation through investments. There are various ways to put your ideal money to use. You can invest your money in mutual funds. You can buy stocks or bonds. There are a lot of ways to put your ideal money to use and earn more money from it.

  1. Trade in cryptocoins

This is one of the most recently known ways of generating passive income. It has been hardly a decade since the introduction of the first cryptocurrency and since then these have become a great way to generate passive income. You can buy and sell cryptocurrency on crypto trading platforms and make huge profits from it. A good place to look for information about the recent updates from the world of cryptocurrency would be coinscalendar.net.

  1. Sell online courses

People on the internet look for courses. You can create guides and course books about anything that you are skilled in. You can earn a good deal of money by selling online courses to people who are looking for that specific course you are offering them. This is an effective way of generating more passive income.

  1. Affiliate Marketing

Affiliate Marketing is one of the most popular means of passive income today. It is about promoting products and earning commissions on the sale of products. All you need to start affiliate marketing is a blog or a website. You can describe the product to your audience and earn affiliate commissions when they purchase those products through your link.

  1. Sell goods on eBay or Amazon

Become registered sellers on eBay or Amazon and start listing your products. You can make a decent amount of money by selling through these websites as they have a wide reach.

These were some of the best passive income ideas that you can start working on and start generating a decent amount of money. We hope you found this post helpful and informative. Let us know your thoughts and suggestions in the comment section below. Thank you very much for reading!

VAT Calculator UK

VAT Calculator UK

What is VAT?

VAT or Value Added Tax is a form of consumption tax which is placed on products or services. This kind of tax is added at all the stages of the supply chain right from the production/origin of the product or service to the final point of sale. The Value Added Tax that the final user of the product has to pay is calculated on the product excluding any of the costs of materials which are already taxed in the earlier stages of the supply chain.

When was the Value Added Tax introduced in the United Kingdom?

The history of Value Added Tax in the United Kingdom goes back to the 70s decade. Value Added Tax was introduced for the first time in the United Kingdom on 1 April 1973. It was implemented as a means of replacing the previously active Purchase Tax and Selective Employment Tax. With the implementation of the Value Added Tax in the United Kingdom, the financial scenario of the United Kingdom changed for the better. The implementation of Value Added Tax in the United Kingdom is considered to be a major step for boosting the economy of the nation. The results of this can be seen in the economic uprise of the United Kingdom.

What are the conditions for charging Value Added Tax in the United Kingdom?

There are certain conditions which need to be fulfilled for you to start charging Value Added Tax in the United Kingdom. Value Added Tax in the UK is charged on goods and services which are provided by a VAT-registered business. Value Added Tax is also applicable to goods and services which are imported from countries within or outside the European Union.

Which items and services is the Value Added Tax imposed on in the United Kingdom?

Not all items and services in the United Kingdom are applicable for Value Added Tax. The goods and services on which Value Added Tax is charged in the United Kingdom are as follows:

  • Sale of goods and services
  • Sale of items to staff/team
  • Sale of business assets
  • Commission
  • Hiring goods to others
  • Business goods used for personal reasons

How VAT calculator UK helps you calculate Value Added Tax in the United Kingdom?

VAT calculator UK allows you to calculate the amount of Value Added Tax on goods and services in the United Kingdom. This is very useful for businesses operating in the United Kingdom. Using this calculator, you can easily know the Value Added Tax charged on a net amount or the Value Added Tax contained within a total amount on a product/service.

Conclusion

We hope you found this post useful and informative. If you have any queries or suggestions related to this post and if you want to know more about this calculator please let us know in the comment section below.  We would be glad to help you out. To show your support, share this post with your friends on social media and elsewhere.

Thank you very much for reading!

College Guy Gets Rich With Investments In Top Performing Mutual Funds In India

College Guy Gets Rich With Investments In Top Performing Mutual Funds In India

Raghu Verma was a regular college goer just like any other boy of his age. While most of his friends spend their money on their habits, Raghu was diligent in his practice of saving. He didn’t like the idea of wasting his pocket money on unnecessary things. He had this habit of saving a quarter of his pocket money right from his school days. Later during his college days, he had taken up another habit, the one that had a big impact on his life. This habit we are talking about is the habit of investing. He started putting a part of his pocket money into mutual funds. However, this decision of investing in mutual funds was not made in a day or two. He took his time in understanding the concept of mutual funds and figuring out the various mutual fund schemes that could bring him the desirable returns.

Early Beginnings

Raghu started his journey with mutual funds with short-term investments. He spent a lot of time in research and acquired some valuable information about mutual funds and other investment options. Being a beginner in the investment industry, he decided to start low and slowly build up his mutual fund investments. Therefore, he went ahead with SIP investments for short term. Soon, he realized the power of investment and started making more investments. He was clever enough to figure out the top performing mutual funds in India. Hence, there wasn’t any problem in investment.

Growing Passion

Within two years, his investments brought him good returns and he became passionate about this new income source. He started spending his time in understanding the world of investment in a better way. He started reading about the most successful investors in the world. He became familiar with the power of compounding. Having known a little more about the investment world, he eventually started adding more investment schemes to his portfolio. He even got a loan with some of the gold he got gifts from his relatives. He used tools like goldloanemi.com to calculate his EMI and made sure to pay back on time. This was another thing that helped him grow financially.

Career Option

By the time he was in the last year of his college, his net worth had grown immensely. He started looking at investment as a career option. His skills at picking investment options had become much better. He has plans to keep growing his investments regularly. He now looks forward towards a lucrative career as an investment analyst.

This was the mutual fund journey of Raghu Verma so far. This story comes with the lesson that the sooner you begin your investments in mutual funds, the better are your chances to get higher returns. There are so many more success stories about mutual fund investments. Read them here to get inspired and become a better investor.

We hope you found this post useful and informative. If you have any queries or suggestions related to this post and if you want to know about the top performing mutual funds in India, please drop your comments in the comment section below.  We would be glad to help you out. To show your support, share this post with your friends on social media and elsewhere.

Thank you very much for reading!