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Common Account Number (CAN) for mutual funds

Common Account Number (CAN) for mutual funds

The Mutual Fund Utility (MFU) provides a common platform for investors to transact across different mutual funds using a common account number (CAN). The investor is allotted a CAN as a single reference for all investments. The investor gets the benefit of a single view of all MF investments, single payment for multiple transactions, centralized …

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Tax Benefits of Health Insurance and medical expenses

Tax Benefits of Health Insurance and medical expenses

As a first step in your financial plan, you must ensure that you have adequate health insurance for self and family members. Buying health insurance will serve the purpose of protecting financial instability and give access to quality health care. Premium paid for health insurance also enjoys certain tax benefits in income tax act 1961 …

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Loan against securities

Loan against securities

Many investors build portfolios of bonds, deposits, equity shares and mutual funds. When faced with an unexpected requirement, they feel unsure about whether to raise funds or liquidate investments. They are also worried about rebuilding the asset. Loan against securities a facility offered by banks and non-banking finance companies, can serve as a good alternative. …

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Benefits of Investing in Mutual Funds

Benefits of Investing in Mutual Funds

Benefits of Investing in Mutual Funds What are Mutual Funds? A Mutual Fund is a company that brings together a group of people and invests on their behalf. “Mutual Funds were created to make investing easy, so consumers wouldn’t have to be burdened with picking individual stocks” Scott Cook Why Mutual Fund? Diversification – ‘Don’t …

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EPF (Employee Provident Fund)

EPF (Employee Provident Fund)

EPF is mandatory for salaried employees working for companies with more than 20 employees Under EPF rules, you need to contribute 12% of your Basic pay + DA to EPF The employer matches this EPF contribution You have option to put up to 100% of Basic pay + DA to EPF. This is known as …

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Loan against life insurance policy

Loan against life insurance policy

Apart from an insurance cover that a life insurance policy provides, it can also be used to secure a loan at a competitive rate. These loans are provided by the insurance company itself or any other NBFC or bank, which provides loans against securities. This facility is, however, not available against term insurance policies or …

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