Wednesday, July 24News That Matters

Misc

Kotak 811 Bank Account – Details & Review – Zero Balance online account with 6% interest

Banking
Kotak 811 is a digital or online bank offered by Kotak Mahindra Bank. You can open a 811 account by downloading the Kotak Mobile Banking App and registering using your Aadhaar number, PAN and other basic details. You can set up a mobile banking PIN and start using your account immediately.   Features of Kotak 811 Bank Zero minimum balance requirement Savings Interest rate upto 6% p.a Free online money transfers (IMPS, NEFT and RTGS)  Kotak 811 debit card : free virtual VISA debit card. Also, you can get the physical card for 299 p.a. charge. Login to your Kotak 811 account through app   Interest Upto Rs 1 lakh – 5% Rs 1 lakh to Rs 1 crore – 6% Above 1 crore – 5.5%  DigiBank by DBS offer similar account and gives interest upto 7% p.a. See details of DigiB...

9.1% Dewan Housing Finance (DHFL) NCD Issue May 2018 – Details & Review

Bonds
Dewan Housing Finance is opening its public issue of NCDs on 22nd May 2018. This NCD issue is offering  yield upto 9.10% and have 7 different investment options. Last 2 issues from DHFL in 2016 were over-subscribed on the first day itself. In this post, I am trying to put details around how good this DHFL NCD is ? What are the postive and negative factors of Dewan Housing Finance NCD? Who should invest in Dewan Housing Finance NCD?     Key Features of Dewan Housing Finance (DHFL)  NCD NCD Issue Open: 22- May-2018 NCD Issue Closing date: 4-June-2018 (but expected to subscribe early - Last 2 issues from DHFL in 2016 were over-subscribed on the first day itself.) Type of Instrument: Secured Redeemable Non-convertible debentures (NCD) for 3 - 10 years Size of Issue:  Ba...

Inv-IT – Meaning, Details & Review (Infrastructure Investment Trusts)

Bonds
If you are wondering what is Inv-IT or what is the meaning of Inv-IT, then this post should clarify some of these things: What are Inv-IT (Infrastructure Investment Trusts)? Infrastructure Investment Trusts (InvITs) are similar to mutual fund companies that allow pooling the infrastructure projects into separate trust and allow investors to invest in the units of InvITs. Investors will get the portion of income from such infrastructure assets. Regulations InvITs are regulatedby SEBI in India. SEBI notified SEBI (Infrastructure Investment Trusts) Regulations, 2014 on September 26, 2014, providing for registration and regulation of InvITs in India. Structure: InvITs are set up as a trust and registered with SEBI. An InvIT has 4 parties -  Trustee, Sponsor(s) , Investment Manager and Projec...

Personal Tax Impact – Indian Budget 2017-2018

Misc
Budget 2017 was unique in the sense that it changed two things the age-old tradition of being presented on the last day of February, this year it was done on 1st of Feb and for the first time in independent India, the Railway Budget was combined with the general Budget. Key Personal Taxation Change 1. Tax Slab changes The rate of income tax is proposed to be reduced to 5% (from 10%) for income between INR 2.5 to INR 5 lakhs. This is likely to bring tax saving of at least INR 12,875 for all taxpayers with an income exceeding INR 5 lakhs. Other tax slab and rates remain unchanged. TOTAL Income Proposed Tax (AY 2018-19) Existing tax AY 2017-18) upto Rs 2.5 lakhs Nil Nil Rs 2.5 - 5 lakhs 5% 10% Rs 5 - 10 Lakh 20% 20% above Rs 10 lakh 30% 30% 2. Surcharge A surcharge of 1...

9.25% Muthoot Finance NCD Issue Jan 2017 – Details & Review

Bonds
Muthoot Finance has opened its public issue of NCDs on 17th Jan 2017. This NCD issue is offering  yield upto 9.25% and have 11 different investment options. Latest NCD issue of Reliance Home Finance (22nd Dec 2016) was over-subscribed 3 times the issue size on day one itself. NCD issue of SREI Equipment finance was subscribed in 4 days only. In this post, I am trying to put details around how good this Muthoot Finance NCD is ? What are the postive and negative factors of Muthoot Finance NCD? Who should invest in Muthoot Finance NCD? Key Features of Muthoot Finance NCD NCD Issue Open: 17-Jan-2017 NCD Issue Closing date: 17-Feb- 2017  (but expected to subscribe early) Type of Instrument: Secured redeemable non-convertible debentures (NCD) for 18-60 months, Unsecured for 96 months....

How to open Airtel Payment Bank Account- 7.25% Savings Account Interest

Banking, News
Jan 2017 Airtel has now rolled out its payment bank across India.  If you want to earn its attractive 7.25% interest, you can open an account.  You donot need to submit any kind of documents as it is a paperless approach, using Aadhaar-based e-KYC.  Anybody who is an Airtel user, having an Aadhaar card, PAN card and carrying a smartphone with Internet connectivity can become a member of Airtel’s Payments Bank and earn an interest of 7.25% p.a by depositing a maximum of Rs.1 lakh. Here are the steps for you to open an Airtel Payments Bank account: 1) Register at www.airtel.in/money Users Who are already a member of Airtel money and are using the wallet for making the transaction, only needs to update their app to use the payments bank facility. 2) Once you have opened the website, you n...

9.75% SREI Equipment Finance NCD Issue Jan 2017 – Details & Review

Bonds
SREI Equipment Finance will open its public issue of NCDs on 3rd Jan 2017 &  it closes on 20th Jan 2017. This NCD issue is offering  yield upto 9.7% and have 7 different investment options. Latest NCD issue of Reliance Home Finance (22nd Dec 2016) was over-subscribed 3 times the issue size on day one itself. In this post, I am trying to put details around how good this SREI Equipment Finance NCD is ? What are the postive and negative factors of SREI Equipment Finance NCD? Who should invest in SREI Equipment Finance NCD? Key Features of SREI Equipment Finance NCD NCD Issue Open: 3-Jan-2017 NCD Issue Closing date: 20-Jan 2017 Type of Instrument: Secured redeemable non-convertible debentures (NCD) for 3 & 5 years Size of Issue:  Rs. 250 crores with a green-shoe option of an...

9.4 % Reliance Home Finance NCD Issue Dec 2016 – Details & Review

Bonds
Update:  Reliance Home Finance NCD is oversubscribed 3 times on the opening day. Seeing the overwhelming response, the issue will be closed on Friday instead of the scheduled date of January 6.   Reliance Home Finance will open its public issue of NCDs on 22nd Dec 2016 &  it closes on 6th Jan 2017. This NCD issue is offering  yield upto 9.4% and have 4 different investment options. In this post, I am trying to put details around how good this Reliance Home Finance NCD is ? What are the postive and negative factors of Reliance Home Finance NCD? Who should invest in Reliance Home Finance NCD? Key Features of Reliance Home Finance NCD NCD Issue Open: 22 Dec 2016 NCD Issue Closing date: 6 Jan 2017  (now closed on 23-Dec because fo oversubscription) Type of Instrument: Se...

What is Benami Property – All you need to know

NRI
You must be hearing this word a lot now a days - "Benami property". Government is taking actions to remove corruption and black money. After demonetisation of Rs 500 / 1000 notes, government is now starting to take action against benami properties. What is Benami property - As the name suggest, it means property without a name. In such transaction, the person doesnot buy the property in his / her name but buys in some other name. Exclusions for benami transactions: If the property purchased in name of spouse or child if the joint property with brother, sister etc for which amount is paid out on known source of income charitable or religious properties are excluded Benami Transactions (Prohibition) Act - Aug 2016 In order to tackle this issue, parliament has passed the Benami Transacti...

10% Edelweiss Housing Finance NCD Issue July 2016 – Details & Review

Bonds
Edelweiss Housing Finance Limited (EHFL) is opening its first public issue of NCDs on 8th July 2016 &  it closes on 27th July 2016. This NCD issue is offering  yield upto 10% and have 7  different investment options. In this post, I am trying to put details around how good Edelweiss Housing Finance NCD is ? What are the postive and negative factors of Edelweiss Housing Finance NCD? Who should invest in Edelweiss Housing Finance NCD?   Key Features of Edelweiss Housing Finance NCD NCD Issue Open: 8th July 2016 NCD Issue Closing date: 22nd July 2016 Type of Instrument: Secured redeemable non-convertible debentures (NCD) Size of Issue:  Rs. 250 crores with a green-shoe option of another Rs 250 crores Minimum & Maximum Investment: minimum 10 NCD of Rs 1000 each = Rs 100...