Monday, April 15, 2019

How to deposit Indian Rupees to NRE Account? Can you transfer from Saving, NRO or another NRE Account?

If you know about NRI banking facilities and different accounts they can open in India i.e. NRE, NRO, FCNR, and RFC then you know that there are different rules to deposit money on these accounts, but it's not clear to many Non-resident Indians. Most of the doubt comes from the fact that NRE account is a Rupee saving account but you cannot deposit Indian Rupees into It. There are some strict rules to deposit funds into NRE saving accounts.Some of the common questions many NRI friends ask me is that is it possible to transfer money to NRE account from India? or how to transfer money from savings account to NRE account, or can you deposit Indian rupees to NRE account etc.

Friday, April 12, 2019

Best Family Floater Health Insurance Plan in India - LIC vs ICICI Lombard vs Bajaj Allianz Policies

I was searching   for a good health insurance plans for my family recently when I come to know about this "family floater health insurance plans". I have not heard this term before, so I did a bit of research about family floater plans and benefits of taking this type of medical insurance and surprised to know that now you can cover almost all members of your family with just one health insurance plan. This is a big relief because you don't need to buy and maintain separate health insurance plans for different family members, in just once insurance policy you can cover yourself, spouse (wife or husband), children, parents (mom and dad) etc.

Saturday, April 6, 2019

How much TDS is deducted on Bank, Company and NRO Fixed Deposits?

TDS stands for Tax deducted at source, is income tax levied on interest earned by Fixed deposits. The rate on which TDS is applied varies, depending upon, whether the Fixed deposit is with a bank, a company or the post office. TDS also depends upon total interest earned on a financial year. For bank Fixed deposits, TDS is triggered when interest earned in a financial year (1 April to 31st March) is higher than 10K and for company fixed deposit or post office deposit, TDS triggered when interest earned on a financial year is more than Rs 5000.

Monday, April 1, 2019

Best Bank to Open NRI Savings Account India - HDFC vs Kotak vs YES Bank

Recently I was doing some research to open an NRI Savings account in India, and given their is  so many banks, both public and private sector are providing NRI services, I thought to do some quick checks on the best NRI savings account I can get this moment. One of my friends suggested me to open your NRI Savings account in HDFC bank, other suggested that he has an account in Kotak Mahindra and very happy with their services especially rather offered on their remittance service click2Remit.

Sunday, March 24, 2019

Difference between Public and Employee Provident Fund - PPF vs EPF

People often mistook Public Provident Fund or PPF for Employee Provident Fund or EPF, though both are provident fund and backed by the government of India, they are independent of each other. The main difference between PPF and EPF is that former is totally controlled by you and only you can make a contribution on that account, on the other hand, EPF is for both you and employer to contribute money.

Thursday, March 21, 2019

5 Things NRIs should know before Sending Money to India from Abroad

When a young software engineer gets his first onsite opportunity, whether it's short term or long term, he is full of excitement. Nothing beats the excitement and adventure of going abroad, especially America or Europe. As they settle down there are receive their first month's salary, it can be a little difficult for them to send money back home. They are new and not aware of all the options they have for sending money to India. Many of them settled to what they are colleagues are using without doing any research about other options available and whether the option his colleagues are using giving the best value for his money or not.