Page 732 - Personal Finance

General Insurance: Rakesh Jain

Construction delayed? Builder must return money on demand

Weed out non-performing funds

While returns are the key factor, one may also remove funds by viewing the outlook and avoiding duplication

Digitising insurance policies is free for customers

Insurance company will bear the cost of digitising. It will in turn benefit from lower expenses on servicing policies

Avoid parental guidance on some financial habits

Investing and saving have to be much more aggressive now, but do learn to live within a budget

EPFO targets to make UANs operational by Oct 15

It has set a target of seeding 2 crore bank account numbers by August 31

Opt for lower tenor when taking loan

The extra tenor that you are eligible for will come in handy if the interest rate increases

Charging for higher ATM use will lead to more branch visits

Till now, banks were only allowed to charge customers if they transacted at non-home bank ATMs more than five times a month. That is now being reduced to three

Holidays on EMI are hassle-free, but costly

Interest rates, processing charges will push up the cost

Professionals preferred for 30-year loans

Their incomes are expected to grow exponentially compared to others

Money goes social with Oxigen's new wallet

The product enables users to share money over social networks and messaging platforms like Facebook, WhatsApp, Google+ and Twitter

For senior citizens, check health insurance clauses

Age ailments shouldn't have high waiting periods or low sub-limits

Reits could be good portfolio diversifiers

While riskier than debt, Sebi's stringent guidelines may ensure a safe and liquid product

Case study

Readers' Corner: Anuj Agarwal

Today, Anuj Agarwal, CEO of Bajaj Allianz Life Insurance, answers your questions

Hot Spot: Kanjurmarg, Mumbai

Affordability & connectivity

Tax law penalises buyers for construction delay by builders

At that time, nobody would have thought a construction period of three to four years would be grossly inadequate

PPF still the best among tax-exempt instruments

Since PPF has become market-linked, any reduction in rates will make it unattractive in comparison to deposits and tax-free bonds as these lock the rate of return

Currency impact of a rate cut

A rate cut can trigger some depreciation in the value of the currency, making it more difficult for companies to import. Exporters, of course, stand to gain

Currency fluctuation can increase cost in overseas card transactions

In case of a dispute, there is a window of 7-45 days for reversal of charges