The medium-term varies from person to person, so the choice of fund type varies. As far as this issue is concerned, I think the medium term is 4-6 years. At this time, one can quickly get benefits from the ELSS scheme, or no hybrid fund will do well. Now investing is a personal choice. Those who know the medical industry would prefer to invest in the pharmaceutical sector, while those who want to take the risk can choose a fund that invests in small and medium-sized companies, and a person seeking a fixed income can go for a debt fund. Therefore, choose a mutual fund as per your choice.
As the risk exposure is high, equity mutual funds are not suitable for the medium term.
- Some of the equity funds last year, when the Sensex crossed 23000, have received negative returns of over 10 percent.
- If you want to invest for a period of fewer than 12-15 months, then it is better to invest in mutual bond funds, which can contribute to 8-10%.
- If you have a period of more than 15-24 months, invest in a balanced mutual fund with exposure to equity of 60 percent.
If you invest in equity mutual funds, you need a much more extended period. By investing in mutual funds, the rate of inflation falls and your money increases on a long-term basis. You can also choose the best 2-3 funds and create a SIP portfolio. More diversification is also not good for the portfolio.
Equity mutual funds to achieve your long-term goals. While a ‘best’ fund is arbitrary and complicated, a good list of your portfolio can be narrow. Has a laundry list of equity funds with a good track record; Here are some essential considerations that you need to keep in mind before choosing for yourself:
- Select a fund house that has a strong global or domestic track record in asset management.
- Choose a plan that has appropriate funds.
- Watch for schemes that have a consistent long-term track record.
If you want to save taxes under Section 80C, then choose these ELSS schemes
- Birla Sun Life Tax Relief 96 Fund
- DSP Blackrock Tax Saver Fund
- Franklin India Tax Shield Fund
- Axis Long Term Equity Fund
- ICICI Prudential Long Term Equity Fund
In the Large-cap
- SBI Blue Chip fund
- Kotak Select Focus fund
- Franklin India Oppor.
- BNP Paribas Equity fund
- Reliance Focused Large Cap Fund
- Birla Sunlife Frontline Equity Fund
In the Multi-Cap
- ICICI Prudential Value Discovery Fund
- Reliance Equity Opportunities
- DSP Blackrock Opportunities
And these funds have done well in small/mid-cap
- Birla Sun Life Midcap
- Franklin India Smaller Companies
For medium investors
- SBI Magnum Multi-Cap
- Kotak Select Focus Fund- Regular Plan
All of these are superb funds with a long track record and growing corpus. While aggregate returns in the equity world can be unpredictable, given enough time, they will undoubtedly beat inflation by a significant margin.
Here’s why you still need Personal Health Insurance instead of relying on Corporate Insurance
Most corporate jobs, along with the salary, offer additional perks. One of the biggest attractions among these various benefits is corporate health insurance. However, these corporate plans are limited to the benefits they offer. At times, they prove to be as good as not having an insurance plan at the time of need. Due to the increased risk of lifestyle diseases and critical illnesses, these plans are insufficient to cater to all healthcare needs. Therefore, it is essential to have a personal health insurance plan covering your healthcare needs with an adequate sum insured. Here is a list of things to analyze about the insurance plan offered by your employer to get a clearer picture of why you need to invest personal health insurance policy:
● Not Customized:
The option of customizing the plan as per your needs is restricted as in corporate insurance. You can opt for personal medical insurance from Care Insurance Company or HDFC Ergo. They offer customized plans according to your preference and need of sum insured.
● No Consideration of Medical History:
There is no thought given about the individual family’s medical history. There are restrictions on things like types of diseases and critical illnesses covered, the inclusion of dependents, etc. On the other side, one can opt for individual health insurance plans, as per the medical history.
● No Coverage after Job Change:
You can get the benefits under corporate health insurance till you are on the job. Once you leave the job, you cannot file the claim. These plans cannot be extended or renewed like individual plans and solely depend upon the employer’s decision.
● No Additional Benefits:
Under these health insurance policies, you cannot get additional benefits such as no claim bonus, automatic recharge, lifelong renewability, etc. Whereas, in personal health insurance, you can avail such benefits to enhance the policy coverage.
● No Adequate Coverage for Family Members:
Coverage for family members is solely the discretion of the employer. It may be possible that you cannot cover your parents or children, or spouse in your corporate policy, or you need to pay a higher premium for the separate cover.
Therefore, if you are also facing the above issues in your current corporate health policy, opt for personal health insurance to assure your health and safety in the future.
Top Health Insurance Companies offer Best Health Insurance Policy in India
|Health Insurance Company||Network Hospitals||Claim Settlement Ratio|
|Care Health Insurance||8350+||92.3%|
|Max Bupa Health Insurance||4500+||83.92%|
|Star Health||8800+||78. 15%|
Benefits of Personal Health Insurance
Look at the below benefits that individual health policy has over corporate health insurance and why it is the best health insurance policy:
- Offer cashless hospitalization facility during a medical emergency and planned hospitalization in the network hospitals
- Provide coverage for in-patient hospitalization, pre and post hospitalization, domiciliary hospitalization, and AYUSH (Ayurveda, Unani, Sidha, Homeopathy) treatment
- Coverage for diabetes, hypertension, thyroid, and other pre-existing diseases
- Provide coverage for on-going treatment, medication, and therapies
- Offer coverage for advanced treatment, daycare treatment, and alternate treatments
- Annual health check-ups help
- Offer tax benefit under section 80D of the Income Tax Act of India 1961
Thus, corporate health insurance offers minimal coverage. But, if you really want to secure yourself and your family against medical emergencies, then opting for personal health insurance is crucial.
Personal Loan or Bike Loan – Which One Would Be More Helpful For Buying a Bike?
If you’re planning to buy a bike, it is essential for you to know the difference between a personal loan and a two wheeler loan. Knowing the ways in which both loans differ from each other will help you make a more informed decision. If you’re wondering which one among these two would be more helpful in your journey to make your dream of owning a two wheeler come true, continue reading to find out.
What is a personal loan?
A personal loan is essentially a loan credit facility offered by a financial institution. One of the main highlights of this loan is that you’re not required to put up any collaterals for availing the credit facility. This essentially makes a personal loan an unsecured loan. And, a personal loan has no restrictions with respect to the usage of the disbursed loan amount. This effectively means that you can use a personal loan for funding almost any expenses such as for traveling, medical expenditures, and even for purchasing a two wheeler.
What is a two wheeler loan?
A two wheeler loan is a loan credit facility offered by a financial institution for the purchase of a two wheeler such as a motorcycle or a scooter. Unlike a personal loan, a two wheeler loan can be used only for the purchase of a two wheeler and not for satisfying any other expenses. Also, since a two wheeler loan is secured, you’re required to put up collateral, which is almost always the two wheeler that you purchase.
Which loan facility would be more helpful when it comes to purchasing a two wheeler?
To answer this question, let’s first compare both of these loans side-by-side.
|Particulars||Two wheeler loan||Personal loan|
|Usage of the loan amount||Restricted to the purchase of two wheelers alone.||Completely unrestricted. Can be used to purchase anything including two wheelers.|
|Maximum amount of loan that can be availed||The price of the two wheeler.||Depends on the individual. Can be anywhere between Rs. 5,000 to Rs. 20 lakhs and above.|
|Loan down payment||Required to pay a down payment of around 10 to 20% of the two wheeler’s cost.||No need to pay any down payment.|
|Interest rates||Since the loan is secured against the two wheeler, the interest rates generally tend to be lower than that of personal loans.||Since the loan is unsecured, the interest rates on personal loans are much higher.|
|Maximum tenure of the loan||Can be extended till 7 to 10 years.||Restricted to a maximum of 5 years.|
|Eligibility criteria||Since the loan has the two wheeler as a collateral, the eligibility criteria is generally more relaxed.||Is dependent on the lender.|
|Documentation||Requires you to submit some documents.||Requires minimal documentation.|
|Ownership of the two wheeler||The two wheeler is hypothecated to the financial institution till the repayment of the loan is complete.||Remains with the owner.|
|Lenders||Banks and financial institutions like NBFCs offer two wheeler loans.||Banks, financial institutions like NBFCs, and even online lenders offer personal loans.|
Although the above table does quite a good job of giving you an objective comparison between the two types of loans, the choice is ultimately dependent on you and your needs and requirements.
If you’re a person who prefers to not make any down payments, then a personal loan may just be the right choice for you. In addition to that, you also don’t have to put your two wheeler up as a collateral for the loan.
On the other hand, a two wheeler loan also has its own advantages. Firstly, the interest rates are far lower and secondly the tenure can be extended till 7 to 10 years, giving you ample time to settle the loan.
Therefore, as you’ve already seen above, choosing between either of these two options completely depends on the individual and their preferences. That said, if you’re ever in the market for a two wheeler loan, always make sure that you take a look at the bike loan eligibility criteria and use a two wheeler calculator before applying for one.
How to Open a Craft Beer Bar and Make your Business Successful
Many men’s dream is to have a beer bar because such a business is profitable and pleasant. However, you should explore each step of starting a business. For example, it’s easy to find employees, order drip trays and other bar equipment on the Internet, and so on.
Create a Business Plan
The first step is to draw up a clear plan to open. It’s necessary to build a picture of a future business. Solve the following issues:
- Naming. The title should be easy to read, short, and catchy. The name has to evoke an association with the product.
- Business scale. There are different beer business types: a beer shop, a small bar with a few seats, a brewery restaurant. The amount of money that will be required depends on the type chosen.
- General concept. Choose the style of the establishment, the main idea, direction, product quality.
- Price policy. It is essential to create a portrait of future customers: are they people with a low, middle, or high income? Products of which quality do they consume? Set prices on the market average of the costs for a similar outcome.
A business plan should contain a budget calculation. Think over your expenses as much as possible and add about 30% (or better 50%) of this amount for unforeseen expenses.
You need to determine the source of your capital. If you do not have the required amount, you can take out a business loan or find an investor. When you partner with an investor, you lose part of control over business decisions.
It is better to hire an accountant who will help distribute and control finances from the first steps. Also, use a lawyer’s services and purchase a license for alcohol; you can get a very high fine without it.
Calculate money for rent of premises, salary, equipment, products, and related goods. Write down a financial strategy: the period when the business will pay for itself when there is a net profit and a term when the company breaks even. Consider every tiny detail, and your business will be successful.
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