Personal Finance

Money Alerts - PMS asks for more

BL RESEARCH BUREAU | Updated on November 15, 2017 Published on February 04, 2012

If you are considering going for a portfolio management service, be prepared to shell out more money.

The Securities and Exchange Board of India (SEBI), in a recent move, has hiked the threshold limit of the PMS schemes to Rs 25 lakh a client from the current level of Rs 5 lakh.

The enhanced investment threshold will however apply only on a prospective basis. This means it will only apply to new investors; existing accounts will not be affected. Of course, existing investors in PMS will be welcome to increase their investments.

Buy G-Secs with a click

Interested in lending to the Government of India? Well, now you can do it with a click. IDBI Bank has recently launched India's first online retail G-Sec Portal that will allow you to invest in Government securities. Note that Government Securities are bonds issued, both by Central and State Government.

The portal, christened “IDBI Samriddhi G-Sec Portal” will allow you to freely buy and sell Government bonds at the click of a button through the bank's Web site. You will however need a demat account for the same.

Never mind your language!

Language will no longer be barrier for communicating with SBI Life Insurance. The insurer has recently launched a multi-lingual Web site in nine Indian languages to facilitate communication with its customers. The Web site will provide you information in Hindi, Marathi, Gujarati, Tamil, Telugu, Malayalam, Bengali, Kannada and Punjabi.

Take debt, the professional way

If you are a professional, here's a good piece of news. Andhra Bank has recently launched a new loan for practising professionals just like you! Called AB Professional Loan, the bank will now provide collateral-free loans for professionals including chartered accountants, engineers, advocates and management consultants.

You can avail the loan for establishing offices, buying furniture, purchase of tools, equipment and books, among others. The maximum amount of loan however will be limited to Rs 10 lakh with a 14 per cent interest a year.

Now ride-an-insurance

You can now buy a life insurance policy too while buying a vehicle. IndiaFirst Life Insurance has launched a life insurance cover for vehicle-buyers.

The product, called Autolife, will offer a life insurance cover up to Rs 20 lakh in four different options and a pure protection plan. The premium rates will approximately be in the range of Rs 600 to Rs 4,000 a year for persons aged about 30 years.

While the product is currently available only in Andhra Pradesh through two-wheeler and four-wheeler dealer network of Varun Motors, it will be extended to other States based on the response for the pilot roll-out.

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