P F Consultant on LinkedIn: #epfo #pfwithdrawal #pfconsultant #pftransfer (2024)

For your Emergency Fund:Liquid fund or Fixed deposits? What if I said – BOTHEmergency fund – Eh?Since all of your saved money may have been blocked or invested for the moment, an emergency fund relieves your pain by providing you instant liquidity; like your child’s tuition fees, your insurance renewal, urgent need of deposit or a spontaneous vacation – the decision lies with youHow much should it be?6 months worth of expenses. If that’s too much, start with 3 months expensesHow are they liquid? > FDs can be broken via netbanking or mobile banking (app based) > Liquid funds with insta redemption facility can easily provide Rs. 50,000 or 90% of fund (Lower of them) in 30 minutesSuggestion:> Follow a 50:50 rule dividing 50% in Liquid funds and 50% in FDs> Better returns with liquid funds; Peace of mind with FDs > Amazing features: Insta redemption (Liq Fs); Instant liquidity (FDs)> Create SIP and RD Note:> Penalty may be charged on breaking FDs> Returns earned on liquid funds are taxable when withdrawnFollow for more#investment #taxplanning #SIP #wealth #personalfinance #finance #manageyourmoney #investright #engineers #corproates #employeebenefit

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RBI: RELEASES FAQS ON DEPOSITOR EDUCATION AND AWARENESS (DEA) FUND SCHEME, 2014RBI issues FAQs in respect of Depositor Education and Awareness (DEA) Fund Scheme, 2014, inter alia clarifies that the amounts credited to the DEA Fund are the credit balances in any deposit account maintained with Commercial or Co-operative banks, which have not been operated upon for 10 years or more by the depositor, or any amount remaining unclaimed for 10 years or more, and includes savings bank deposit accounts, fixed or term deposit accounts, current deposit accounts, cash credit accounts, etc.; States that the banks are required to transfer the entire credit balance, including the accrued interest, in such accounts to the DEA Fund on the last working day of the month subsequent to the month of completing 10 years of its continuous inoperative/unclaimed status, and specifies that a customer/depositor can claim a refund of their unclaimed amounts from their banks, wherein banks shall repay the customer and then lodge a claim for a refund from the DEA Fund for an equivalent amount; Apex Bank further informs that there is no specific time limit prescribed in the scheme for claiming a refund, however, customer/depositor or their legal heirs are encouraged to claim such amounts as soon as they become aware of unclaimed amounts, moreover, apprises that in case of a bank under liquidation, the depositor has to approach the Liquidator of the bank for such claim: RBI

Have you ever wondered if borrowing in a self-managed superfund (SMSF) is right for you, or just wanted to know more about borrowing in this type of structure?It is first important to be aware of the role licensed financial advisors play in the process of setting up an SMSF.At Duo, we work in concert with financial advisors to ensure the lending process complements their investment advice to ensure you are making an informed decision.Check out the infographic below, for more info on borrowing within SMSFs.#DuoFinance #MelbourneBusiness #SelfManagedSuperFund #SMSF #SMSFLending

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When exploring avenues to expand your property portfolio, consider the power of SMSFs to overcome borrowing limitations.Many investors face roadblocks due to high debt levels and bank assessment rates, SMSFs offer a solution by segregating serviceability assessments from individual finances. This opens doors for acquiring additional properties, driving wealth growth.Consult with specialists to assess if an SMSF aligns with your financial goals. It could be the key to unlocking your property investment potential and securing your financial future. If you would like more information or would like to discuss your property journey, don’t hesitate to reach out.#smsf #propertyinvestment #propertyinvestmentstrategy

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What is a Fixed Deposit? Comprehensive Guide for BeginnersA fixed deposit (FD) is a financial instrument offered by banks and non-banking financial companies (NBFCs) where you can deposit a lump sum amount for a fixed tenure at a predetermined interest rate. Unlike savings accounts, FDs offer higher interest rates, making them a popular choice for risk-averse investors. The tenure for FDs can range from a few months to several years, and interest can be compounded quarterly, half-yearly, or annually.Read More:https://lnkd.in/dmu7r9t8#finance #investment #fixeddeposit #business

It's been a week filled with hurdles and statements from lenders stating no exemption(s) or waiver(s) will be granted ..... challenge accepted!Here are this week's samples:- No waiver of Accountant Letter to confirm entity is profitable; (WAIVED). - No waiver on Independant Legal Advice for new customers; (WAIVED).- No waiver on ATO Portals; (DEEMED N/A AFTER CHALLENGING THE REQUEST).- Children receiving income distributions from parents must complete a Statutory Declaration confirming they are not financially dependent; (DEEMED N/A AFTER CHALLENDING THE REQUEST). - All directors must sign the loan documents (DEEMED N/A AFTER CHALLENGING THE REQUEST - PURSUANT TO CORP ACT 127). Having the ability to formulate a reasonable argument allows me to challenge the lender's "default" requirement.#tenacity #commonsense#exemptions

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In my opinion LAMF can fuel the growth of Mutual Fund investment. Here is how - 👉 Advantages for Investors1. Maintaining Investment Positions: One of the key benefits of obtaining loans against mutual funds is that investors can continue to benefit from the potential growth of their investments. By not selling their holdings, investors can ride out market fluctuations and capitalize on long-term market trends.2. Tax Efficiency: Selling mutual fund units can trigger capital gains taxes. 3. Avoiding Opportunity Costs: The stock market’s dynamic nature means that timing is crucial. Selling mutual fund holdings prematurely might lead to missed opportunities for potential gains. 👉 Benefits for the Mutual Fund Industry1. Increased Investment Inflows: As investors become more aware of the option to access liquidity through loans against mutual funds, the attractiveness of mutual fund investments could increase. 2. Stability During Market Fluctuations: During market downturns, investors might panic and withdraw their funds from mutual funds. 3.Enhanced Product Innovation: The emergence of loans against mutual funds could inspire other financial institutions to innovate further. LARK FINSERV

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In today's update on Account Aggregator 101, read about NBFCs. 💼Reading updates on Account Aggregator, you would come across the term "NBFCs" often. If you've wondered what their scope extends to, this one's for you.NBFCs, or Non-Banking Financial Companies, are financial institutions that provide banking services without meeting the legal definition of a bank. Unlike traditional banks, NBFCs do not hold a banking licence but engage in a variety of financial activities similar to banks.🏦These activities include lending and credit facilities, investing, asset management, money market operations, and other financial services. NBFCs play a crucial role in the financial sector by catering to specific financial needs and segments that may not be adequately served by traditional banks.💰#TallyEdge#AccountAggregator#finance #NBFC

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How do digital, marketing and data collaborate to change the game for a product?Here’s a good use case from #bfsi where marketing serves a critical role in awareness generation, data is critical for relevant targeting and digital channels ensure convenient & seamless application - for a product which is newer, relatively complex and sorrounded by myths.#marketing #digitalmarketing #data #digital

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