Tips for Using Your Credit Card...

The invention of new technology is always helpful to the humankind. Credit card is one of them. It saves you a lot of time and is safe to use as well. The fear of theft of your precious cash is also removed from your mind. However, the use of credit card also has a flip side too. The impending danger of misuse of your credit card by someone else cannot be ruled out. The RBI, from time to time, issues suggestions for the use of credit cards.

Keep in mind some of the tips to have your credit card only for you and enjoy the benefits as well. Of foremost importance is not having a photocopy of your credit card that may be accessible to others easily. One side of the credit card bears the Card Verification Value or the (CVV). This is used for online transactions. You can imagine what the consequences will be.

If there is no use of certain documents that has sensitive information, dispose them off immediately. Do not ever give the information to any anonymous caller. Refrain from clicking on links on the web that is asking for your card information. Share the information only with the company if the need arises. Report the loss of your credit card without a moment to spare.

Don’t overlook the importance of property insura...

If one has insurance of properties, it would get easy to resurrect again from the position of debris. According to the terms and conditions while going through the property insurance, would make life easy for you. Either you may get the insurance amount for a new house or things would proceed according to the pre-determined understandings.

Another example of having property insurance is the vehicles that we use. There are some, who use vehicles as the only source of their income for the whole family. Just imagine what the plight of the family would be if the vehicle is damaged and smashed up in an accident!

The whole foundation of the family is in tatters. At least the general insurance would help in some way. Speaking about the bigger picture, these are the days when there cannot be any prediction about the next moment. One needs a backup of some sort. This backup is what we call insurance.

However, a good fellow you are, when the need of the money arises, your good values bring nothing to you. You are a deserted lot and none comes forward to help you. Money speaks these days and you have to have them.

The Importance of Property Insurance...

Property insurance falls in the general insurance sector. As life insurance is important in one’s life, so also is the importance of property insurance. Insuring your house, your vehicles, your shop etc. falls under this type of insurance. Now, why is it necessary to insure these things? For example, a place like the shop should be the first one on your list to insure.

Your shop is your source of earning. It should be kept safe from any sort of eventuality. Damaging a place like a shop, due to fire or any such sabotage is the same as stopping your income. Well, not only does the source stop, but you have to renovate it as well. Therefore, it is a double blow – no income plus spending for renovation.

At such a time, one should not feel repentant and hold the head in hands saying ‘alas, only if there were insurance’. One’s house is also an area that needs insurance. As shop insurance is important, so is the insurance of your house. Due to natural disasters, there have been cases when houses have been washed away. Where would one bring the funds from to get another shack to support oneself?

Never overlook the value of Life Insurance...

It is not only the head of the family; insurance is the need of everyone now. In these days of high risk associated with terrorism, natural disasters etc. insurance is the first thing that a sensible man would go for. Most insurance companies have quite a strong financial background. The foundation of these companies is their finance.

Therefore, buying an insurance policy from such companies is the safest thing in the world of life insurance. The major question these days is, is it necessary to buy an insurance policy? The very answer of this question is a big ‘yes’.

Among other reasons, the reason that is most common in life insurance sector is the fear of death. ‘Death’ is the nearest word associated with ‘life’ insurance. And why not? That is true too. One has to die, this day or the other. However, if you were to die suddenly, what would the people do and where will they go, who are dependent on you?

Now, that is why it is important to have at least one good life insurance policy. Whichever policy you buy, from whichever company, local or foreign, having a life insurance policy has no option.

The Importance of Life Insurance...

The importance of life insurance has started to take shape in India. There are now currently at least more than 12 life insurance companies like Max New York Life Insurance, ING Vysya etc. to name a few. The companies trading here with collaboration with Indian companies are doing brisk business in providing people with life coverage.

Any head of the family will consider having life insurance as a safety. And why is it not? What will happen to the family members if the head of the family, god forbid, is no more? Having a life insurance, at least makes way for the upbringing of the other family members if the head of the family has had a life insurance cover on him.

There is no denying the fact that, the life of any living being is invaluable. As far as life insurance is concerned, no company can insure any single life, however big it may be. However, this is the spiritual side of the value of a life terming it as invaluable. Nevertheless, in the practical sense, you have to pay the money in a certain currency and that is where the cash comes into play. No one might be able to tell the exact value of one’s life, but there can be some assigned to it through insurance.

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Life Insurance Corporation of India will launch LI...

Life Insurance Corporation of India, India’s largest and oldest life insurance company, is planning to launch its much awaited launch of Credit Cards in the month of October.

The insurance company was earlier in talks with a firm but due to some reason, the deal could not materialize. At present, the company is negotiating with some another firm and is in its final stages. On the 52nd anniversary of LIC, Senior divisional manager Bhausaheb Gujar said:

In all likelihood, LIC’s credit card will be launched in October 2008.

Although, the company has yet not finalized the name of the new company, but might name it as “LIC Credit Cards” or “LIC Card Services”. LIC offers it policyholders with the service to pay their premium with LIC’s own credit card and will further reduce the transaction cost for LIC.

Earlier LIC was roped in with Corporation bank and Axis bank for taking premiums from those who hold there accounts there. The mode of payment was either through Internet, electronic clearing service, automatic teller machines (ATMs) of Corporation Bank and Axis Bank, online collection at Axis Bank branches or through LIC’s portal.
The LIC premium can be paid through SMS, but currently this service is available to only account holders of Corporation Bank.

New Deposit Schemes and Interest Rates from Develo...

Development Credit Bank Ltd., one of India’s emerging private sector banks, has announced the deposit scheme- DCB Freedom1-2-3 fixed deposit and has also come up with some other fixed deposit rates.

As per the DCB Freedom1-2-3 fixed deposit, the scheme offers attractive and money saving policy to its customers by giving them aggressive rate of 10.50% for fixed deposit in the ‘375 days to 3 years’ slab. No additional amount will be charged for early withdrawal after 375 days.

In the launch of the scheme, Mr. Gautam Vir, Managing Director & CEO DCB, announced, “DCB has revised interest rates for various terms of deposit providing a bag of fixed deposit products under one roof to their customers to deposit in short term or long term.”

Further, the bank has also revised interest rates for 91 days deposit by increasing it to nine per cent from the previous seven per cent for the deposit up to Rs. 50 lakhs. Under the same scheme, the senior citizens on the day of the launch of the fixed deposit will receive additional 0.50 per cent interest from the current rates, as being stated by the bank.
The new rates will come into action form 0ctober 1st 2008.

SBI increases Interest Rates with new deposit sche...

India’s largest public-sector undertaking, the State Bank of India (SBI) has revised its interest rates and has came up with three slabs for the 2-3 years category which will be effective from October 1.
As per the scheme, the bank has increased the deposit rates by 1% to 10.5% for the 1000 days maturity deposit for the depositors.
On the other hand, the deposit rates for 2-3 year maturity have been increased from 9.5% to 12.50%. Under the same scheme, the senior citizen will be benefitted by getting additional 0.5% interest.
Apart from that, the bank will also offer an additional 0.25% rate above the card rate on a single term deposit of Rs 15 lakh and above, which will have tenure of 181 days to less than 2 years. Further, for the tenure of less than 181 days and the period of 2 years, the bank will also offer 0.1% above the card rate on a single term deposit of Rs 15 lakhs and above.

New Pension Fund Scheme will be launched by PFRDA...

The Pension Fund Regulatory and Development Authority (PFRDA) has come up with a pension fund scheme for all those employees who are working in unorganized sectors including retail, textile and mines. This pension fund is expected to be active in the next six months.

For this scheme, the PFRDA has already selected four companies namely Mercer, Ernst & Young, PricewaterhouseCoopers and Crisil, which will help in recruiting the institutional advisor.

The CEO of PFRDA, Mr. N R Rayalu has declared that the authority is in the process of appointing an institutional advisor to advice on the pension scheme. Further four parties have been selected and the advisor will be short listed in 10-15 days. He further added,

This will help PFRDA roll out the scheme for the unorganized sector within a period of six months.

The PFRDA expects to give benefits to many unorganized sector by giving them the privilege of having them the benefits of the pension plans.