Sunday, August 25, 2013

Flexible Savings

To be frank, have always been a little scared of saving or recurring deposit schemes which expect  you to pay fixed money for a fixed period. It would also be difficult in closing or withdrawing from those schemes with some making you pay penalty as well. That is why i have one of the least possible life insurance policies. infact i discarded a second policy after paying the first premium in the fear of not paying the future fixed premiums. In these times have come the below three options that have given me hope. The beauty is all three could be managed online, what else will a so called IT guy ask for. (Note: Fourth option of NPS added later)

1. Flexible gold savings: One year back started  with a online savings scheme with Tanishq. it is an 18 month plan where you pay a flexible amount every month online and on completion, Tanishq will give you a bonus which i expect would approx be atleast 6% and you buy for the accumulated total sum with Tanishq at store. The sad part is this scheme is not available anymore but only the 11 month fixed payment scheme where 12th payment is borne by Tanishq. So i had some luck then.

2. Iwish : This is a flexible recurring deposit scheme by ICICI and is available for all ICICI account holders. Ofcourse payment amount is flexible and you are not penalized for missing a month. All maintenance online on your ICICI account that includes opening and closing of the recurring deposit. Am banking on this so much that I hope and wish this will continue for my lifetime with ICICI. Would be great if this spreads to all possible banks.

3. PPF (Public Provident Fund): Ok, this is a retirement planning option, provided by nationalised banks and ICICI, SBI and also ofcourse post office. It would be my savior alternate for the low insurance i have. Since ICICI allows online maintenance with very less paper work for opening it, am looking forward to it as i have just submitted all the docs with the ICICI branch. You can pay as low as Rs 500 for a whole year and as max as 1L per year. Interest compounded annually. It has loan and withdrawal options starting after 3rd year. Maturity on 15 years and option to continue after that as well. Its a EEE scheme which means the Principal, Interest and maturity all exempted from tax where the principal exemption though depends on your 80C limit..

Let me know of other options if any available online or not.

Update 29-9-2013: Successfully using my PPF thru ICICI online. My wife wants to open one for herself as well now. Also, heard from a colleague that SBI also provides online maintenance of PPF.

Update: 22-10-2013:
4. NPS (New Pension Scheme) : Was aware of this earlier through icici  demat account online but got the understanding only now. Under this you can do savings thru two types of accounts (Tier 1 and Tier 2) for future pension. While non-withdrawable Tier I account is mandatory for opening of an NPS account, opening of Tier II account is optional based on your requirements. However, an active Tier I account is a pre-requisite for opening a Tier II account.
Minimum of Rs. 6000 required per year for Tier 1 and Rs. 2000 for Tier 2. Savings under Tier 2 can be withdrawn any time. Most important to note is that you can choose to invest the money in your NPS the way you want in the available 3 options as mentioned below, that too with your choosen fund manager (SBI, ICICI...etc) for better returns
Asset Class E - investments in predominantly equity market instruments. --Max 50%
Asset Class C- investments in fixed income instruments other than Government securities.- Max 100%
Asset Class G - investments in Government securities.- Max 100%
You can also select Auto Choice Investment instead where the distribution is done based on your age.
Though the returns has been good so far (>10%), there is no guarantee on the returns on maturity.
Upon attainment of the age of 60 years at least 40% of the accumulated pension wealth needs to be utilized for purchase of annuity. ICICI demat online helps you open it online. But there are also attached charges and penalties as needed with NPS in general. Tax deduction under 80CCD available
For more details :

This post is only to help and give an idea about available saving options in India. Make sure to carefully verify the options before using them yourself. I wouldnt be liable or responsible whatsoever for any kind of loss or impact or effect...etc due to the usage of this blog post.

Friday, August 16, 2013

I hate puppies

Original Date of Post: 06-Mar-2008

Location : Vellore, just in front of gate of our house. (in the first pic we are sitting facing our gates, ie photographer is in our gate side)
Story now: I was with my kutties (lokkesh and rajalakshmi playing cricket, do u see the tennis ball in the 1st pic?). Infact they were 4 puppies, much identical you could see, from the next street, caught them when they just crossed my home. But unfortunately cudnt get them all in one shot, all were running in diff directionsL

Last weekend,

They ran awy from me after some time J

Thanks & Regards,

A day out

Original Date of Post: 26-Jul-2008

We booked the tickets for 12.30 show @ Satyam for Subramaniapuram. And we also planned to go for spencers after that.

After nice Ghee Pongal @ uppii, we (Me, Giri anna, Anni, Abi, Daniel from Infy, Arun from Ford) caught the 9.40 train at sp Koil as planned.

Train journey was so pleasant for myself and abi as we were listening to music with my N70 J. On reaching Egmore, Giri anna and Daniel finished their lunch while others had a coffee @ vasantha bavan. Everyone again took Lemon Soda.

I thought we need 2 Autos, and while I was bargaining with auto wallahs, Giri Anna, confirmed one auto for all of us (5 elders and Abi J). We did make it to theatre for Rs. 50.

Interval went off with Popcorn and Coke as usual.

When the film was over Giri anna as usual scolded me for taking to that film as he felt the movie too violent. Wat to do, I already informed them abt the violenceL

And luckily for me, Abi forced us everyone to Marina Beach. I wasn’t that much interested in initial plan of spencers as it is month end you know…he he he

One auto again to Marina…….:J

            Note : Abi won the above race with Daniel J

Note : Beautiful Abi with Beautiful Sea

Me and Abi enjoyed a lot in the salt water…..

Note : Yes… she is vomiting the salt water….he he he

And, We started our dream Fort in the Sand…Giri anna and Arun, helped us to complete the Fort with flag and other decorations.

            Note : Here we Go….

Note : The Fort… Dream Fort….

We also had a snake and a boat from Giri anna, a teddy bear from Abi besides the fort!!!

            Note: You see the snake above and  Boat below?

Note : yes, the same teddy you saw abi was drawing in the above pics…

Daniel Performed the Official Photographer Role there with great Photos.

Note: Daniel, driving the boat somewhere…in the sand……

Note : Abi’s Best Again …..

As we discussed in the auto while traveling to beach, we all started to Triplicane Parthasarathy temple. Anna took us by walk in the house packed streets.
Was wet with full of sand all over my body and hungry as well and badly wanted a break. After reaching the temple we saw a small mess, we entered in and had a great time (Bajji, Bonda, Vadai, Chola Poori and a coffee to finish J).

Wow, we had beautiful Darshan of Parthasarathy (special darshan – Rs 10 each),

We started by walk after our purchases (drums and whistes….which we used all the way until we reached home….he he he), spent some time in the street’s book show rooms. Then an auto to beach station. We caught the 6.42 direct train to chengalpet, everyone got the seats. We had a final drink of Aavin flavored milk. And then started the slide show of all the pics we had taken the whole day from morning. As we had been chatting and enjoying, reached the sp. Koil station.

Do you think its done, wait, reaching home (uppili), we almost finished the prasadham we bought in the temple, and also a great Anni’s Rasam saadham to end the day.

I left to room with filled Heart J

Some more pics:

Note : Mr Smart (Arun)

Me and Abi enjoyed a lot in the salt water…..

Note : Yes… she is vomiting the salt water….he he he

Note : A lil exhausted .....?
        Note : Here we Go….

Note : Top View…

Note : Do u see the pair out of focus ? ;)

            Note : Can I name it Two Giants ?

Note : Abi’s Best Again …..


Original Date of Post: 17-Aug-2007

I visited this temple a month back approx with my uncle and the two kutties. A lovely peaceful one which is approx 4 kms dist from my home. Its in Vasur. This temple is for lord Muruga.

The sad part is I came to know abt this temple only an year back, and from then on I was very much longing to visit. It fulfilled only now. Check the pics below. It has two ponds one at the top near the main tower other at the foot of the hill, near the start of the steps.

Pond at the foot of the hill

From the top, can u see the lit tube lights in the road?

Nearing the tower.

At the top, before the main tower.

Thats Beauty!!!

The pond at the top:

A big Banyan Tree!! Must be very old.

Low Light view: