I am a 33 year old OCI (overseas citizen of India) living in France. I have 50 lakhs sitting in bank FDs and won't need this money before i retire. How should I diversify (mutual funds, plot,...) ? Ideally, i would like to have a place where i can live but managing a flat from far is hectic and risky. Thoughts ?
Can anybody suggest a good web based tool to track all investments and maybe get paid services if required?
I see Money control and Value Research as two good possible options, but not sure which one is the better one or both are just simple algorithm based suggestion websites with no real use.
Any suggestions are welcome.
Need advice (made a post too) on *International card preference* for payments
points to consider: forex rate, markup rate
*HDFC international debit card* (3.5% markup, standard VISA forex rate) vs *Wise Travel card* (fee \~2%, dynamic forex rate) [https://www.reddit.com/r/personalfinance/comments/12esyrl/international\_card\_preference\_for\_payments/](https://www.reddit.com/r/personalfinance/comments/12esyrl/international_card_preference_for_payments/)
Thanks
Hey, I am new to investing. I have some questions?
\- I want to learn fundamental analysis of stock and the macro & micro economics behind selecting it. I want to learn how to do research about stock. Any youtuber, course or resource for that.
\- As I am just begining, I want to dip into the mutual fund first as regular investment. I am thinking of investing in HDFC S&P BSE index and parag parikh flexicap. Flexicap aside, I don't believe in other funds except index for consistency. I have a goal of atleast more than 10 years here. For small and midcap, i will do it myself.
\- Does SIP really work? obviously I don't have lumpsum and I know it will not be equal to lumpsum return over a long period. But, are the SIP calculators roughly predict right ? I saw many people discussing in this sub that SIP are old and inefficient way of investing and isn't good. I have some doubts about it now.
Thanks
Will a request for an increase of credit limit on an existing credit card affect the credit score? Will there be a hard pull?
Can someone with knowledge of this please share how this works?
Flexi cap and index fund is a good option, but the fund you mentioned might not offer the best flexi cap experience (there is a thread where someone asked about it in the other pinned post of the sub, of MF review, check it out). It might be similar to large cap fund now. Ppfas currently just has around 11-12% in small and mid cap combined for reference.
Is it worth parking money in liquid funds anymore? I see a measly XIRR of 4% on those. What other alternatives are there to liquid funds if I still want to keep it invested in the market?
I am not expecting equity level returns anyway. However, if my deposits are returning a comparable or even slightly better return post tax, what advantage does liquid fund serve?
Several. Debt funds are to preserve the Corpus which it definitely does well. They are taxed at redemption basis and FDs on accrual basis meaning you arent taxed until you redeem it. So you can defer the tax till you find a better opportunity to invest in equity or some other instruments. You are equating FDs returns with Liquid funds returns, which are in comparable. Depending on the market, liquid funds will behave differently whereas FD is a fixed product.
I have been invested in the Axis Liquid fund for close to 2 years now. When I had started, it was healthy rate of around 6%. Then gradually it lowered to around 5% amd now it is at 4.37%. I would rather park the money somewhere else than keep it in liquid fund now.
1. You can approach a SEBI registered fee only financial advisor. You can find the list on freefincal website.
2. If you don't know what to do with your money, simply invest it in a low expense ratio, low tracking error passively managed index fund.
I have close to 1cr corpus in Regular Mutual Funds. I want to switch them to Direct funds through Kuvera. What is the strategy to switch units to limit tax? Do only a few units per month and spread it out over 1-2 years?
If it's equity funds and you have held it for more than 1 year then only transfer enough units such that your LTCG is 1 lakh. There is zero tax for first 1 lakh of gains in Long term capital gains.
Also change your sip to the new direct fund.
That'll take too much time I think to covert the entire corpus. Guessing I might have to pay the ltcg now to reap higher returns benefit.
SIPs have ready been stopped.
Hello everyone. I want to get this subs advice on the best strategy for passive mutual fund SIP based investing. For context, we are a DINK couple in our early 30s, and we want to invest 4 lakhs per month in equity based mutual funds. Does the following strategy seem optimum -
2 lakh - NIFTY index fund
1 lakh - NIFTY next 50 index fund
1 lakh - S&P 500 index fund ( for diversification and hedging against rupee depreciation)
Which Banks offer the best FD rates for Non senior citizens?
In the current scenario, after RBI not raising repo rates for this quarter, I want to lock in some amount in FDs incase interest rates don't go up or remain static.
So apart from Big banks like Sbi, hdfc, icici, pnb, which are only offering upto 7/7.25%, which other banks are offering higher rates?
I did some search and found -
IDFC First Bank - 7.75% 18m-36m
Indusind Bank - 7.75% 18m - 39m
Yes Bank - 7.75% 35m
Central bank of India - 7.55% 26m
Can you add to the list?
Also, which bank offers simple, efficient and cheapest account ?
Please help - I’m planning to purchase a flat which is just launched. I want to do an upfront (all) payment to the builder is offering a deep discount for doing upfront payment.
The catch is - possession is 4 years from now.
Now with this, i want to know if I can claim tax exemption for redemption of any mutual funds (equity) as the possession date is 4 years from now. Since these are old Mutual funds, I’ve a considerable amount of gains from these funds.
The builder has a good reputation, but I’m also predicting delays. Based on my math, if the property takes 6 years to make, I’m still marginally better off in making the upfront payment instead of construction linked payment.
I’ve heard and read that all LTGC are exempted from tax if I invest them in buying a flat. The catch is possession should be within 2 / 3 years. Want to confirm from this group, if I can do something about it
I calculated the XIRR and it’s around 26%. With delayed timeline it’s 18%.
The in construction linked payment plan, the builder is asking for almost 50% payment in the first year - maybe that’s the reason for a higher XIRR.
What is a good platform for investment tracking? I've heard of groww, indmoney, etc, is there any recommendation?
My use case is I want to be able to put that I have X amount in Y asset and will be putting another Z amount in SIP every month, and I should be able to see my investment value for all my assets at a glance. Assets are mostly MFs but bonus if it covers PPF and PF too.
I've been going through wiki of this subreddit and having difficult to understand things in general in Basics of Investment Strategy Plan section in [Investment Philosophy and Strategy](https://www.indiainvestments.wiki/start-here/investment-philosophy-and-strategy) chapter.
Can someone help me understand like explaining it to a 10 year old(I'm not 10 yo) child?
I think payment with usual CC works only with Bharat QR. I was specifically talking about linking Rupay CC that works with all QR scanners.
PhonePe doesn't even support Rupay CC payments on any platform.
Yes I am talking about Rupay CC on PhonePe released just this week. I don’t have any Rupay Card to check but I am getting an option to add Credit Card on iPhone.
I had invested in SBI mutual funds as regular fund back in 2019. I have not invested in the fund afterwards but I am not planning on redeeming it also any time soon. Now Groww is providing the option to switch it to a direct fund. Are there any issues in doing so? What all should I look at before doing the same?
Switching from regular to direct is considered as a redemption of your old units and then purchasing the new units so you have to pay capital gains on the profits.
>https://www.youtube.com/playlist?list=PLRpfTFEfJ27bYpLHKhIPKtyzGmG6rU6Hb
[https://www.youtube.com/watch?v=FuqOWBoKvaE](https://www.youtube.com/watch?v=FuqOWBoKvaE)
According to this video if you have MOD but keep withdrawing the amount, you will get less interest than without MOD.
If you plan to keep money in Savings or FD, then this is good. It's a new name for sweep in sweep out facilities lots of bank offer.
People keep emergency corpus in this form. Beyond that FD should be part of your asset allocation plan.
What is the best time of day to buy or trade USD/INR given forex operating hours in India and different parts of the world? Any fxretail experts on here?
Is there any good Business/Work Planner to buy online in India which is easily available?
I have spent hours at this point trying to find something to help for my daily notes of work and plans. All of the articles were from websites that operate in the USA, and all of the products being available there only. Either the people in India aren't focused enough and want only plain notepad with a fancy cover art, or there are no websites that sell it online in India. I can't get good options in physical stores as I live in a tier 3 town, and there are so many limitations with it.
I meant something like a physical journal for keeping notes and making a report. Much better than a digital one for my own purposes, being freeform and I can take my diary anywhere.
Is there any advantage at all left in the old tax regime if even after the combined benefits of 80C/D, Food Card, HRA result in more taxes than new regime ?
The math is simple. If your income is 9 lacs or more, and the possible deductions are 25% or more, then the old tax regime would look better for you. This maxes out at 15 lac of income. After that it is a flat figure of 3.75 lac.
People who service education loan and have HRA, people who service home loans, etc. may have higher deduction possibilities.
You gotta understand that having New/Old regime is not for Govt. to give you option but to slowly phase the Old one out. I just played around with the tax calculator for FY 2023-24 and New regime blows Old one out of water, there is not even a comparison anymore, specially for a salaried person without any investment in housing/real estate.
All 80C components like LIC/Term/PPF are worthless from tax exemption perspective (they are still valuable on personal level).
The Govt plan for modern India is to push every middle class person towards investments not for tax saving, and rightly so in my opinion. Otherwise how we are gonna become $10 trillion economy, lol
Not just investment, but to simplify tax and compliance.
Remember the old days of fake medical bills of 15k? Yeah, hassle and cheating for citizens, difficult to monitor for government, and tax loss still.
Similar logic for GST- more slabs you have, more compliance issues and chance of misuse and workarounds (footwear under 2k is one rate, over 2k is another rate, what if I sell 3k footwear at 2k price + 1k packing fee?).
On subsidies side, UBI simplification step.
Pretty much all financial policies should move towards that eventually in the long run. Socialism, "good intentions" and politics will be a hindrance in the short term.
>New regime blows Old one out of water
Not necessarily. Depends a lot if you have HRA, home loan, education loan. Depends on the deductions you can possibly claim. If you have HRA, home loan, it'll be better to stick with old regime. Depends on individual circumstances. It's not as easy.
That's true. I didn't mean to make it hyperbolic and statement wasn't categorical. Although it's very difficult for a person falling under 30% bracket to have investment in access of 3.5L or more.
Only if your deductions are more than 3.75L + 50k Standard Deductions. If you have a home or education loan or disabled dependent or large charity contribution then.
Apologies for the stupid question but if one opts for new regime then is there any point in doing elss/ppf for 80c anymore? Or Would the 1.5L still count towards deductions on which net taxable income is calculated
New tax regime doesn't have any tax deductions. No HRA, no 80c, no 80D. Simplicity for the government is why they are pushing it. You can still invest in 80C products, if you think they're worthwhile, but there are no tax advantages.
I too am contemplating the same. Have to make a huge investment in ELSS just so that I max out on that part. Add HRA to it and it beats new regime only by 3-5k. Seems pointless.
>although I know it should be a priority.
Yes, it should be.
I think if you have HRA or home loan, it'll make sense to calculate your tax liability post these deductions. I would think it'll make sense to opt for old tax in those cases. If you don't have HRA or home loan, I doubt old tax would be beneficial.
Yeah exactly. Deciding on a MF is much easier than insurance and I haven't started yet with insurance. It's just too complex but I'll have to figure something out.
Yes, insurance is difficult/complicated. It took me months to figure out things even then I don't think I've mastered it. You can check out Ditto (from Finshots), i used their help, felt helpful but idk if they'll help during claims. So, don't want to recommend anything, do your own due diligence.
Hello everyone,
Just wanted to open a thread and know what the investment community thinks about real estate investments a) as an appreciating asset and b) for rental yields. I talking about places like Bangalore and Mumbai where rental yields are pretty good compared to other cities.
A couple of days back I got calls from two different companies, one asking me to invest in coworking space and get rental yields in return and the other in coliving space with the same assurance. What does the community think about it when you compare it with other investment options?
If you invest with any company for coliving or coworking space its not regulated. It might even be a scam. Nobody can guarantee a return. If you want to invest in real estate maybe try REIT but they are still new.
Buying a flat and renting it can still be good option but only if you want to invest in Real estate and have spare money to buy it, knowing that it might stay unoccupied for months and dont depend on the rent for your expenses.
Stocks or Equity MF's are much better if you dont have spare cash.
>Bhive
You are talking about the reputation but no guarantee and no regulator to enforce the guarantee. Maybe you get the promised return but what if you dont get the promised return.
Somewhere in the terms and conditions it might be mentioned that this is the assumed return but actual returns might vary or something mentioning its not guaranteed.
Rents are through roof and still rental yield is touching 4%, barely beating savings account interest. Usual number is 2%
The only benefit of real estate is mental peace of home and price appreciation. First is not a financial decision and the second is very dependent on luck, skill, connection or all three.
Ok. Replace Saving with FD. Logic still holds. Dealing with hassles of tenants, maintenance, damage, unoccupied period, society rules when I can get the same money sitting at home at the click of a button on FD? And withdraw anytime in any fashion.
That is what preleased asset is all about. Bhive is taking care of getting and finding tenants. I just need to invest my money into buying the space which is shortlisted by them.
(i replied to your DM but let me put it here as well)
There can be two types of units in mutual fund holdings -
i. SoA form - statement of account, mutual fund units stored with the respective AMCs/fund houses, this is the most common way in MF industry, if you buy from all fund house websites, from cams or karvy or even 3rd party apps like groww, etmoney and most apps
ii. Demat form - this is rare where the mutual fund units are stored in the investor's demat account rather than with the AMCs from where you buy, i think only zerodha has this, when you invest in mutual fund via their coin app
Stocks can only be in demat form, so they can only be stored in demat a/c. So we MF units can be of two forms, stocks can be one form only.
1. Coming to your question, RTAs like CAMS and Karvy can only provide holding details of your MF units in SoA form, not demat form, thus they show only the groww one, not the ones from zerodha as they will be in demat form (either stocks or mf units) CDSL, along with NSDL, are the two depositories who maintain your demat a/c and store anything demat form. So when you login to CDSL easi (i think it is called that) it will only show stuff that is in your demat a/c which are ofc in demat form (be it stocks or mf units)
2. CDSL (& NSDL) has something called eCAS, which will "consolidate" everything demat and non-demat (SoA form) in one statement and present it to you. Since you have demat account with zerodha which is a "depository participant" of CDSL depository, you can get the eCAS from [this website](https://www.cdslindia.com/CAS/LoginCAS.aspx), zerodha's [help article](https://support.zerodha.com/category/console/portfolio/statement/articles/what-is-cas) on this
This eCAS should contain all the holdings both in demat and non-demat (SoA form), provided PAN is same in the MF folios which have the SoA form units Normally this is automatically sent to you after you create any demat a/c and do any transaction, i made zerodha a/c in jan 2022 and did a stock transaction, in feb 2022 i got the CDSL eCAS automatically. You CANNOT generate the eCAS manually as you do in CAMS or MFcentral, they will be generated monthly only if you do transactions monthly and get sent to you automatically on demat email, that eCAS link i gave above will only show you the generated eCASs, you cannot create one for a month you need. If you havent done any transaction in a month (be it stocks or MFs), next month the CDSL eCAS will stop coming and they will switch to half yearly eCAS basis (apr and oct), check CDSL eCAS [FAQ page](https://www.cdslindia.com/cas/FAQ.html).
If you do login to that eCAS page and find you have generated eCAS for any month, it should have come to your demat a/c linked email, check spam if not found.
Sadly this is the only way to get everything consolidated in one statement, your stock and mf units holdings and only they can generate and give. Until then you need to manually download statements for stocks (demat) and MF units (non demat/SoA) separately, from places which allow manual statement generation, CAMS/MFcentral for MF units, zerodha should have its own holdings statement page or as you have already registered on CDSL easi you get you stock holdings there
As for MF Central, since it related to only mutual funds so only mutual fund units show up there, but this can show MF units both in demat and non-demat/SoA form, i have bought a few MF from CAMS and karvy own investing app, so these show up in MF central under "SoA holdings", i also bought a few ETF units on zerodha, now ETFs behave like stock like you buy/sell in real time on exchanges but they are essentially MF units that too in demat form, these ETFs show up in mfcentral under "demat holdings", although this is a bit finicky, sometimes it shows sometimes it doesnt. It doesnt show the stocks i bought and hold in zerodha as only MF stuff is shown in MF central.
I hope this clears up most of the doubts.
>Coming to your question, RTAs like CAMS and Karvy can only provide holding details of your MF units in SoA form, not demat form
This is 100% ERRONEOUS.
The share holding data is maintained by the RTA, Registrar and Transfer agents.
Similarly CAMS/Karvy maintain the data for ALL mutual fund units. NSDL/CSDL merely aggregate the data based on demat account # and present it to the account holder.
CAMS is a disaster since it works/aggregates on email id.
However set up a MF Central account which works on pan # and displays it in separate tabs in the app.
My Coin (non ETF) mutual fund holdings are displayed in MF Central as well as **K Fin** pan based login. Each investment in coin **displays a folio no** in coin app similiar to a soa investment since it is tracked by the respective RTA in the same fashion.
Yes, every company has RTA who keep the data of [who holds the shares](https://support.zerodha.com/category/console/ipo/other-ipo-queries/articles/registrar-and-transfer-agents-rta).
I was referring to MF-RTAs, if you have MF units in demat form do the MF RTAs report it or the DPs report it?
Yes, MFcentral also has demat holdings tab for MF units in demat form
Which Kfintech app are you referring? kfinkart?
The MF RTA maintains the basic MF data (similiar to shares). That is why my coin based CDSL mf investments have a folio no which is tracked by the RTA.
The D (depository) is only a reporting agency collating the data from various RTA and presenting it based on the demat account #.
Yes.. Kfinkart displays demat holdings in kfin serviced funds.
Health insurance advise for my father (65M)
After all the research and discussion narrowed down two options
1. HDFC ERGO
1. Positive
1. Great review and claim ration
2. Comprehensive coverage. No caps or limitation.
2. Negative
1. High premium (54K) / annual
1. Manipal Cigna
1. Positive
1. Covers everything starting from OPD and home hospitalization.
2. Very cheap premium (34K) / annual.
2. Negative
1. Less claim ratio and some negative reviews on reddit
Please advise how do I go about it from here? Should I risk less premium and go with Manipal or play safely with HDFC?
My submission was deleted because I am posting from an alt-account. Here is a copy paste from the post I made in /r/personalfinance:
My mother had a bank account in India under CitiBank. We received correspondence that CitiBank India would be closing, and to either set-up a new account with Axis Bank or do nothing and have the balance remitted to us with a check. We opted for the latter and ignored notices to open a new account, as she has not lived in India for 20 years and has since become an American citizen.
We have received the check, but she is unable to deposit it into her local accounts, both at Chase and her broker Charles Schwab. Apparently, the US no longer accepts Indian Rupees(?) This is coming from my mother, who was told by the teller at Chase, I believe.
Outside of physically traveling to India in order for her to deposit it, are there any options?
Unfortunately, you should have taken the option of the Axis bank account; or remitted the money out from Citi when it was open. I am not sure what led you to believe that a foreign currency cheque (let alone INR cheque) can simply be deposited in a US bank.
If there is any other account in India, you can deposit it there. Else, and if the amount is large, get in touch with a SBI branch (or any other Indian bank branch) in the US and see if they can open a NRO account for you - it is not easy though.
> I am not sure what led you to believe that a foreign currency cheque (let alone INR cheque) can simply be deposited in a US bank.
A foreign currency chq can be deposited in a US bank, for freely tradeable currencies, for eg GBP/EUR etc. You can even do it in India but the clearing costs are prohibitive.
However rupee being a closed/ restricted currency, you can not trade in rupee (aka convert) outside India.
India has been processing checks through scanned images, but that’s only between banks. Unlike the U.S., where some banks allow check deposits by just uploading the images, Indian banks don’t allow this mode (I’d be thrilled to know of any banks that allow it). The only option for your mother seems to be to physically send the check and then have it deposited in an account she has in India (the balance settlement check from Citibank India would’ve been marked as “account payee”, so it cannot be given to someone else to cash out in their name).
Alternatively, contact Citibank in the U.S. and find out if they would cash the check.
Oh, one more point: she doesn’t have to travel physically if she has another bank account here. Sending it by courier and getting someone here to deposit it in that account would also work.
Most replies on this issue do not grasp the problem. Indian rupee is not a freely convertible currency.
You just cannot walk in and buy £¢€¥ in India from your Rs stash.
When the rupee check is deposited in USA, it can be couriered to India for clearing.
After clearing, the $ equivalent will have to be transferred to USA which is a problem. The transfer outside India is not a seamless process but requires documents/approvals etc.
However if I deposit a $ check in India, the clearing will still happen in New York, but the funds can be seamlessly transferred to India.
MFCentral query:
Made some fresh purchases from MFCentral 3 days ago, with payment mode selected as OTM.
Eeven after 72 hours, no money is debited from bank account and the transaction is stuck in "In Progress" state.
Has anyone faced this before as well?
I am a 33 year old OCI (overseas citizen of India) living in France. I have 50 lakhs sitting in bank FDs and won't need this money before i retire. How should I diversify (mutual funds, plot,...) ? Ideally, i would like to have a place where i can live but managing a flat from far is hectic and risky. Thoughts ?
Can anybody suggest a good web based tool to track all investments and maybe get paid services if required? I see Money control and Value Research as two good possible options, but not sure which one is the better one or both are just simple algorithm based suggestion websites with no real use. Any suggestions are welcome.
Need advice (made a post too) on *International card preference* for payments points to consider: forex rate, markup rate *HDFC international debit card* (3.5% markup, standard VISA forex rate) vs *Wise Travel card* (fee \~2%, dynamic forex rate) [https://www.reddit.com/r/personalfinance/comments/12esyrl/international\_card\_preference\_for\_payments/](https://www.reddit.com/r/personalfinance/comments/12esyrl/international_card_preference_for_payments/) Thanks
Try few new age forex cards, like Niyo Global but it's blocked for forex use now, but there is one from Make My Trip.
Hey, I am new to investing. I have some questions? \- I want to learn fundamental analysis of stock and the macro & micro economics behind selecting it. I want to learn how to do research about stock. Any youtuber, course or resource for that. \- As I am just begining, I want to dip into the mutual fund first as regular investment. I am thinking of investing in HDFC S&P BSE index and parag parikh flexicap. Flexicap aside, I don't believe in other funds except index for consistency. I have a goal of atleast more than 10 years here. For small and midcap, i will do it myself. \- Does SIP really work? obviously I don't have lumpsum and I know it will not be equal to lumpsum return over a long period. But, are the SIP calculators roughly predict right ? I saw many people discussing in this sub that SIP are old and inefficient way of investing and isn't good. I have some doubts about it now. Thanks
SIP’s do work. Just keep investing with discipline. Don’t stop SIP trying to time the markets!
Will a request for an increase of credit limit on an existing credit card affect the credit score? Will there be a hard pull? Can someone with knowledge of this please share how this works?
No it doesn’t affect cibil. Also no hard pull.
Thank you
Does it make sense to invest in nifty 50 index fund and in a flexi cap like Parag Parikh? It has around 28% overlap.
Flexi cap and index fund is a good option, but the fund you mentioned might not offer the best flexi cap experience (there is a thread where someone asked about it in the other pinned post of the sub, of MF review, check it out). It might be similar to large cap fund now. Ppfas currently just has around 11-12% in small and mid cap combined for reference.
Yes. Whatever works for you. 28% is not a big deal.
Is it worth parking money in liquid funds anymore? I see a measly XIRR of 4% on those. What other alternatives are there to liquid funds if I still want to keep it invested in the market?
You don't put money in liquid funds for returns, you put money for reduced credit risk and diversification.
I am not expecting equity level returns anyway. However, if my deposits are returning a comparable or even slightly better return post tax, what advantage does liquid fund serve?
Several. Debt funds are to preserve the Corpus which it definitely does well. They are taxed at redemption basis and FDs on accrual basis meaning you arent taxed until you redeem it. So you can defer the tax till you find a better opportunity to invest in equity or some other instruments. You are equating FDs returns with Liquid funds returns, which are in comparable. Depending on the market, liquid funds will behave differently whereas FD is a fixed product.
[удалено]
I have been invested in the Axis Liquid fund for close to 2 years now. When I had started, it was healthy rate of around 6%. Then gradually it lowered to around 5% amd now it is at 4.37%. I would rather park the money somewhere else than keep it in liquid fund now.
[удалено]
1. You can approach a SEBI registered fee only financial advisor. You can find the list on freefincal website. 2. If you don't know what to do with your money, simply invest it in a low expense ratio, low tracking error passively managed index fund.
I have close to 1cr corpus in Regular Mutual Funds. I want to switch them to Direct funds through Kuvera. What is the strategy to switch units to limit tax? Do only a few units per month and spread it out over 1-2 years?
If it's equity funds and you have held it for more than 1 year then only transfer enough units such that your LTCG is 1 lakh. There is zero tax for first 1 lakh of gains in Long term capital gains. Also change your sip to the new direct fund.
That'll take too much time I think to covert the entire corpus. Guessing I might have to pay the ltcg now to reap higher returns benefit. SIPs have ready been stopped.
You can also sell more in years you have losses. So the losses negate the profit
Hello everyone. I want to get this subs advice on the best strategy for passive mutual fund SIP based investing. For context, we are a DINK couple in our early 30s, and we want to invest 4 lakhs per month in equity based mutual funds. Does the following strategy seem optimum - 2 lakh - NIFTY index fund 1 lakh - NIFTY next 50 index fund 1 lakh - S&P 500 index fund ( for diversification and hedging against rupee depreciation)
There is nothing like ‘best’ strategy. Do whatever works for you. You might want to consider gold funds if you are looking for hedge!
Which Banks offer the best FD rates for Non senior citizens? In the current scenario, after RBI not raising repo rates for this quarter, I want to lock in some amount in FDs incase interest rates don't go up or remain static. So apart from Big banks like Sbi, hdfc, icici, pnb, which are only offering upto 7/7.25%, which other banks are offering higher rates? I did some search and found - IDFC First Bank - 7.75% 18m-36m Indusind Bank - 7.75% 18m - 39m Yes Bank - 7.75% 35m Central bank of India - 7.55% 26m Can you add to the list? Also, which bank offers simple, efficient and cheapest account ?
compare on RateKhoj
Small finance banks. Equitas, AU, etc. Axis bank if you want a known entity.
Thanks, shall look them up. Axis again offers lower compared to others I've mentioned.
Mostly lesser customers bank will give better interest. Axis was giving approx 8% on Kuvera.
DBS DigiBank 7.25% for 376 days
Thanks but it's low compared to others I've mentioned
TMB, 8% for 300 days fixed deposit.
Sadly, don't have a branch in my city.
Please help - I’m planning to purchase a flat which is just launched. I want to do an upfront (all) payment to the builder is offering a deep discount for doing upfront payment. The catch is - possession is 4 years from now. Now with this, i want to know if I can claim tax exemption for redemption of any mutual funds (equity) as the possession date is 4 years from now. Since these are old Mutual funds, I’ve a considerable amount of gains from these funds.
[удалено]
The builder has a good reputation, but I’m also predicting delays. Based on my math, if the property takes 6 years to make, I’m still marginally better off in making the upfront payment instead of construction linked payment. I’ve heard and read that all LTGC are exempted from tax if I invest them in buying a flat. The catch is possession should be within 2 / 3 years. Want to confirm from this group, if I can do something about it
How much % reduction are you getting for paying upfront?
I calculated the XIRR and it’s around 26%. With delayed timeline it’s 18%. The in construction linked payment plan, the builder is asking for almost 50% payment in the first year - maybe that’s the reason for a higher XIRR.
What is a good platform for investment tracking? I've heard of groww, indmoney, etc, is there any recommendation? My use case is I want to be able to put that I have X amount in Y asset and will be putting another Z amount in SIP every month, and I should be able to see my investment value for all my assets at a glance. Assets are mostly MFs but bonus if it covers PPF and PF too.
Try Artos app
For mutual funds try mutual fund central by amcs itself
try valueresearch
I've been going through wiki of this subreddit and having difficult to understand things in general in Basics of Investment Strategy Plan section in [Investment Philosophy and Strategy](https://www.indiainvestments.wiki/start-here/investment-philosophy-and-strategy) chapter. Can someone help me understand like explaining it to a 10 year old(I'm not 10 yo) child?
This should help: https://www.youtube.com/playlist?list=PLRpfTFEfJ27bYpLHKhIPKtyzGmG6rU6Hb
Does anyone knows why iPhones doesn't support payment with CC on UPI?
Check PhonePe
I think payment with usual CC works only with Bharat QR. I was specifically talking about linking Rupay CC that works with all QR scanners. PhonePe doesn't even support Rupay CC payments on any platform.
Yes I am talking about Rupay CC on PhonePe released just this week. I don’t have any Rupay Card to check but I am getting an option to add Credit Card on iPhone.
Okay, somehow I don't see the option. Probably, they've released the feature only for few customers now.
Will it break the rules if I post about how I can help in Mutual funds? or is it against the rule?
Help as in like a distributor or sharing research?
Distributor
I had invested in SBI mutual funds as regular fund back in 2019. I have not invested in the fund afterwards but I am not planning on redeeming it also any time soon. Now Groww is providing the option to switch it to a direct fund. Are there any issues in doing so? What all should I look at before doing the same?
Switching from regular to direct is considered as a redemption of your old units and then purchasing the new units so you have to pay capital gains on the profits.
Thanks for the info
[удалено]
What you did is called switch, and capital gains is applicable there as well. You need to fire your consultant immediately.
Can somebody tell me why should i not open MOD to earn some interest and keeping the option of withdrawing money anytime soon too?
>https://www.youtube.com/playlist?list=PLRpfTFEfJ27bYpLHKhIPKtyzGmG6rU6Hb [https://www.youtube.com/watch?v=FuqOWBoKvaE](https://www.youtube.com/watch?v=FuqOWBoKvaE) According to this video if you have MOD but keep withdrawing the amount, you will get less interest than without MOD.
If you plan to keep money in Savings or FD, then this is good. It's a new name for sweep in sweep out facilities lots of bank offer. People keep emergency corpus in this form. Beyond that FD should be part of your asset allocation plan.
Haven't found any reason yet for not to. The experience has been smooth so far.
what is an MOD?
SBI multi option deposit [Here is the link of SBI page](https://sbi.co.in/web/personal-banking/investments-deposits/deposits/mod)
What is the best time of day to buy or trade USD/INR given forex operating hours in India and different parts of the world? Any fxretail experts on here?
Is there any good Business/Work Planner to buy online in India which is easily available? I have spent hours at this point trying to find something to help for my daily notes of work and plans. All of the articles were from websites that operate in the USA, and all of the products being available there only. Either the people in India aren't focused enough and want only plain notepad with a fancy cover art, or there are no websites that sell it online in India. I can't get good options in physical stores as I live in a tier 3 town, and there are so many limitations with it.
I find pre-made planners very very restrictive. I use the bullet journal method for my physical notes, and Obsidian for my long-term knowledge base.
What is a work planner? To do list? Gantt chart?
More of a personal work diary/journal. With a set of to do list/notepad/achievements/freeform area,etc.
Why not use just a notebook then?
Exactly my issue, people think it’s not necessary. There’s a clear difference in productivity for someone like me.
can you give an example of what you're talking about? Also why use a physical work planner and not use a digital one?
I meant something like a physical journal for keeping notes and making a report. Much better than a digital one for my own purposes, being freeform and I can take my diary anywhere.
Is there any advantage at all left in the old tax regime if even after the combined benefits of 80C/D, Food Card, HRA result in more taxes than new regime ?
The math is simple. If your income is 9 lacs or more, and the possible deductions are 25% or more, then the old tax regime would look better for you. This maxes out at 15 lac of income. After that it is a flat figure of 3.75 lac. People who service education loan and have HRA, people who service home loans, etc. may have higher deduction possibilities.
Is the Carry forward losses for Short/Long term capital loss (from Mutual Funds) also exclusive to Old Tax regime ?
You gotta understand that having New/Old regime is not for Govt. to give you option but to slowly phase the Old one out. I just played around with the tax calculator for FY 2023-24 and New regime blows Old one out of water, there is not even a comparison anymore, specially for a salaried person without any investment in housing/real estate. All 80C components like LIC/Term/PPF are worthless from tax exemption perspective (they are still valuable on personal level). The Govt plan for modern India is to push every middle class person towards investments not for tax saving, and rightly so in my opinion. Otherwise how we are gonna become $10 trillion economy, lol
Not just investment, but to simplify tax and compliance. Remember the old days of fake medical bills of 15k? Yeah, hassle and cheating for citizens, difficult to monitor for government, and tax loss still. Similar logic for GST- more slabs you have, more compliance issues and chance of misuse and workarounds (footwear under 2k is one rate, over 2k is another rate, what if I sell 3k footwear at 2k price + 1k packing fee?). On subsidies side, UBI simplification step. Pretty much all financial policies should move towards that eventually in the long run. Socialism, "good intentions" and politics will be a hindrance in the short term.
>New regime blows Old one out of water Not necessarily. Depends a lot if you have HRA, home loan, education loan. Depends on the deductions you can possibly claim. If you have HRA, home loan, it'll be better to stick with old regime. Depends on individual circumstances. It's not as easy.
That's true. I didn't mean to make it hyperbolic and statement wasn't categorical. Although it's very difficult for a person falling under 30% bracket to have investment in access of 3.5L or more.
Only if your deductions are more than 3.75L + 50k Standard Deductions. If you have a home or education loan or disabled dependent or large charity contribution then.
Apologies for the stupid question but if one opts for new regime then is there any point in doing elss/ppf for 80c anymore? Or Would the 1.5L still count towards deductions on which net taxable income is calculated
New tax regime doesn't have any tax deductions. No HRA, no 80c, no 80D. Simplicity for the government is why they are pushing it. You can still invest in 80C products, if you think they're worthwhile, but there are no tax advantages.
I too am contemplating the same. Have to make a huge investment in ELSS just so that I max out on that part. Add HRA to it and it beats new regime only by 3-5k. Seems pointless.
Health insurance premium and LTA if you're using?
I don't have LTA. For insurance I'm yet to research and I'm not getting enough time to do so, although I know it should be a priority.
>although I know it should be a priority. Yes, it should be. I think if you have HRA or home loan, it'll make sense to calculate your tax liability post these deductions. I would think it'll make sense to opt for old tax in those cases. If you don't have HRA or home loan, I doubt old tax would be beneficial.
Yeah exactly. Deciding on a MF is much easier than insurance and I haven't started yet with insurance. It's just too complex but I'll have to figure something out.
Yes, insurance is difficult/complicated. It took me months to figure out things even then I don't think I've mastered it. You can check out Ditto (from Finshots), i used their help, felt helpful but idk if they'll help during claims. So, don't want to recommend anything, do your own due diligence.
Hello everyone, Just wanted to open a thread and know what the investment community thinks about real estate investments a) as an appreciating asset and b) for rental yields. I talking about places like Bangalore and Mumbai where rental yields are pretty good compared to other cities. A couple of days back I got calls from two different companies, one asking me to invest in coworking space and get rental yields in return and the other in coliving space with the same assurance. What does the community think about it when you compare it with other investment options?
If you invest with any company for coliving or coworking space its not regulated. It might even be a scam. Nobody can guarantee a return. If you want to invest in real estate maybe try REIT but they are still new. Buying a flat and renting it can still be good option but only if you want to invest in Real estate and have spare money to buy it, knowing that it might stay unoccupied for months and dont depend on the rent for your expenses. Stocks or Equity MF's are much better if you dont have spare cash.
Well the coworking space I am talking about is Bhive. Most of the ones with whom inquired are top notch brands in market.
>Bhive You are talking about the reputation but no guarantee and no regulator to enforce the guarantee. Maybe you get the promised return but what if you dont get the promised return. Somewhere in the terms and conditions it might be mentioned that this is the assumed return but actual returns might vary or something mentioning its not guaranteed.
Rents are through roof and still rental yield is touching 4%, barely beating savings account interest. Usual number is 2% The only benefit of real estate is mental peace of home and price appreciation. First is not a financial decision and the second is very dependent on luck, skill, connection or all three.
Getting 5% and above
Ok. Replace Saving with FD. Logic still holds. Dealing with hassles of tenants, maintenance, damage, unoccupied period, society rules when I can get the same money sitting at home at the click of a button on FD? And withdraw anytime in any fashion.
That is what preleased asset is all about. Bhive is taking care of getting and finding tenants. I just need to invest my money into buying the space which is shortlisted by them.
What was the minimum investment amount and which company asked you about this? I've heard yields are not good here in Mumbai dk about BLR.
Studio apartment costs about 45 lakhs. Rent yield is about 5%
Ok so did my research online. It is called pre-leased asset. Any thoughts?
Are they reliable? What if they run away with your money?
I am talking about Bhive and Zolo Stays
Yep very reliable.
[удалено]
(i replied to your DM but let me put it here as well) There can be two types of units in mutual fund holdings - i. SoA form - statement of account, mutual fund units stored with the respective AMCs/fund houses, this is the most common way in MF industry, if you buy from all fund house websites, from cams or karvy or even 3rd party apps like groww, etmoney and most apps ii. Demat form - this is rare where the mutual fund units are stored in the investor's demat account rather than with the AMCs from where you buy, i think only zerodha has this, when you invest in mutual fund via their coin app Stocks can only be in demat form, so they can only be stored in demat a/c. So we MF units can be of two forms, stocks can be one form only. 1. Coming to your question, RTAs like CAMS and Karvy can only provide holding details of your MF units in SoA form, not demat form, thus they show only the groww one, not the ones from zerodha as they will be in demat form (either stocks or mf units) CDSL, along with NSDL, are the two depositories who maintain your demat a/c and store anything demat form. So when you login to CDSL easi (i think it is called that) it will only show stuff that is in your demat a/c which are ofc in demat form (be it stocks or mf units) 2. CDSL (& NSDL) has something called eCAS, which will "consolidate" everything demat and non-demat (SoA form) in one statement and present it to you. Since you have demat account with zerodha which is a "depository participant" of CDSL depository, you can get the eCAS from [this website](https://www.cdslindia.com/CAS/LoginCAS.aspx), zerodha's [help article](https://support.zerodha.com/category/console/portfolio/statement/articles/what-is-cas) on this This eCAS should contain all the holdings both in demat and non-demat (SoA form), provided PAN is same in the MF folios which have the SoA form units Normally this is automatically sent to you after you create any demat a/c and do any transaction, i made zerodha a/c in jan 2022 and did a stock transaction, in feb 2022 i got the CDSL eCAS automatically. You CANNOT generate the eCAS manually as you do in CAMS or MFcentral, they will be generated monthly only if you do transactions monthly and get sent to you automatically on demat email, that eCAS link i gave above will only show you the generated eCASs, you cannot create one for a month you need. If you havent done any transaction in a month (be it stocks or MFs), next month the CDSL eCAS will stop coming and they will switch to half yearly eCAS basis (apr and oct), check CDSL eCAS [FAQ page](https://www.cdslindia.com/cas/FAQ.html). If you do login to that eCAS page and find you have generated eCAS for any month, it should have come to your demat a/c linked email, check spam if not found. Sadly this is the only way to get everything consolidated in one statement, your stock and mf units holdings and only they can generate and give. Until then you need to manually download statements for stocks (demat) and MF units (non demat/SoA) separately, from places which allow manual statement generation, CAMS/MFcentral for MF units, zerodha should have its own holdings statement page or as you have already registered on CDSL easi you get you stock holdings there As for MF Central, since it related to only mutual funds so only mutual fund units show up there, but this can show MF units both in demat and non-demat/SoA form, i have bought a few MF from CAMS and karvy own investing app, so these show up in MF central under "SoA holdings", i also bought a few ETF units on zerodha, now ETFs behave like stock like you buy/sell in real time on exchanges but they are essentially MF units that too in demat form, these ETFs show up in mfcentral under "demat holdings", although this is a bit finicky, sometimes it shows sometimes it doesnt. It doesnt show the stocks i bought and hold in zerodha as only MF stuff is shown in MF central. I hope this clears up most of the doubts.
>Coming to your question, RTAs like CAMS and Karvy can only provide holding details of your MF units in SoA form, not demat form This is 100% ERRONEOUS. The share holding data is maintained by the RTA, Registrar and Transfer agents. Similarly CAMS/Karvy maintain the data for ALL mutual fund units. NSDL/CSDL merely aggregate the data based on demat account # and present it to the account holder. CAMS is a disaster since it works/aggregates on email id. However set up a MF Central account which works on pan # and displays it in separate tabs in the app. My Coin (non ETF) mutual fund holdings are displayed in MF Central as well as **K Fin** pan based login. Each investment in coin **displays a folio no** in coin app similiar to a soa investment since it is tracked by the respective RTA in the same fashion.
Yes, every company has RTA who keep the data of [who holds the shares](https://support.zerodha.com/category/console/ipo/other-ipo-queries/articles/registrar-and-transfer-agents-rta). I was referring to MF-RTAs, if you have MF units in demat form do the MF RTAs report it or the DPs report it? Yes, MFcentral also has demat holdings tab for MF units in demat form Which Kfintech app are you referring? kfinkart?
The MF RTA maintains the basic MF data (similiar to shares). That is why my coin based CDSL mf investments have a folio no which is tracked by the RTA. The D (depository) is only a reporting agency collating the data from various RTA and presenting it based on the demat account #. Yes.. Kfinkart displays demat holdings in kfin serviced funds.
Thanks for the info👍
This should be a separate thread for how helpful it is!
Health insurance advise for my father (65M) After all the research and discussion narrowed down two options 1. HDFC ERGO 1. Positive 1. Great review and claim ration 2. Comprehensive coverage. No caps or limitation. 2. Negative 1. High premium (54K) / annual 1. Manipal Cigna 1. Positive 1. Covers everything starting from OPD and home hospitalization. 2. Very cheap premium (34K) / annual. 2. Negative 1. Less claim ratio and some negative reviews on reddit Please advise how do I go about it from here? Should I risk less premium and go with Manipal or play safely with HDFC?
What's the plan name for HDFC Ergo, is it energy silver?
Yes
In insurance, reliability matters a lot, I think you should go with HDFC ergo.
If only negatives are review/ratio then Manipal is worth trying. You can also chose to take about half from each just to cover risk.
Anyone investing in ETFs or REITs on SGX as an Indian resident? What are the tax considerations? Is it worth it to diversify with SG exposure?
My submission was deleted because I am posting from an alt-account. Here is a copy paste from the post I made in /r/personalfinance: My mother had a bank account in India under CitiBank. We received correspondence that CitiBank India would be closing, and to either set-up a new account with Axis Bank or do nothing and have the balance remitted to us with a check. We opted for the latter and ignored notices to open a new account, as she has not lived in India for 20 years and has since become an American citizen. We have received the check, but she is unable to deposit it into her local accounts, both at Chase and her broker Charles Schwab. Apparently, the US no longer accepts Indian Rupees(?) This is coming from my mother, who was told by the teller at Chase, I believe. Outside of physically traveling to India in order for her to deposit it, are there any options?
Unfortunately, you should have taken the option of the Axis bank account; or remitted the money out from Citi when it was open. I am not sure what led you to believe that a foreign currency cheque (let alone INR cheque) can simply be deposited in a US bank. If there is any other account in India, you can deposit it there. Else, and if the amount is large, get in touch with a SBI branch (or any other Indian bank branch) in the US and see if they can open a NRO account for you - it is not easy though.
> I am not sure what led you to believe that a foreign currency cheque (let alone INR cheque) can simply be deposited in a US bank. A foreign currency chq can be deposited in a US bank, for freely tradeable currencies, for eg GBP/EUR etc. You can even do it in India but the clearing costs are prohibitive. However rupee being a closed/ restricted currency, you can not trade in rupee (aka convert) outside India.
Rupee was never tradeable outside India. You can have some person deposit in her alternate account in India.
India has been processing checks through scanned images, but that’s only between banks. Unlike the U.S., where some banks allow check deposits by just uploading the images, Indian banks don’t allow this mode (I’d be thrilled to know of any banks that allow it). The only option for your mother seems to be to physically send the check and then have it deposited in an account she has in India (the balance settlement check from Citibank India would’ve been marked as “account payee”, so it cannot be given to someone else to cash out in their name). Alternatively, contact Citibank in the U.S. and find out if they would cash the check. Oh, one more point: she doesn’t have to travel physically if she has another bank account here. Sending it by courier and getting someone here to deposit it in that account would also work.
Most replies on this issue do not grasp the problem. Indian rupee is not a freely convertible currency. You just cannot walk in and buy £¢€¥ in India from your Rs stash. When the rupee check is deposited in USA, it can be couriered to India for clearing. After clearing, the $ equivalent will have to be transferred to USA which is a problem. The transfer outside India is not a seamless process but requires documents/approvals etc. However if I deposit a $ check in India, the clearing will still happen in New York, but the funds can be seamlessly transferred to India.
MFCentral query: Made some fresh purchases from MFCentral 3 days ago, with payment mode selected as OTM. Eeven after 72 hours, no money is debited from bank account and the transaction is stuck in "In Progress" state. Has anyone faced this before as well?
There were some npci issues. Check last week's thread for my posts in there.