Hi Lakshmi, could you please tell me when can one withdraw the amount from the account without penalty? is there any time limit? age 58 or under 58? any information regarding this would be appreciated.
Shanvy, As you say liquidity is important ans safety too-so better to put your eggs in various baskets. I feel Mfs give you instant liquidity . PPF and NSCs help you save tax, gives security + loan facilities. I think you can avail loans after 4 yrs in PPF.(Not sure abt time frame) and with nscs you can also get bank loans.
hi there are some gold funds like goldex, kotak gold funds, and now i think HDFC is coming with some goldfund.
Radhika, Which is better ETFs or regular gold MFs? Bcoz ,Ibought DSPBR world gold fund @ 13.35 nearly 1.5 years back and today it is almost the same value-but physical gold has appreciated tremendously.
Shakambari, Dad and DH both always advocate that i should learn the difference between forced saving and voluntary saving. forced saving is purely on the taxation point of view. voluntary savings is something you want to do apart from the forced. like buying gold, real estate, and to a extent mutual funds. so if i were to go for tax benefits i would definitely look NSC/Kisan vikas patra, and other aspects. even lic gives loans against your policies, for that matter. I was thinking on the lines of education loan, which has tax benefits, and would benefit the kids on the long run.I do have accounts for both my kids with regular deposits. I am assuming the 10000 you are asking here is besides the regular forced savings. Gold ETF's are a great rage these days.:thumbsup
Yes Shanthi, The 10k I posed here is different from your regular(forced or voluntary -as you put it) savings which is in form of bank fds,land apts ,ELSS,LiCs...etc. Education for kids is off my mind now as mine is past that stage!
Hi, Money in PPF account can be partly withdrawn after 7 years of starting the investment and completely withdrawn after 15 years of starting the investment. It is not linked to age but the date of starting the investment. For ex: you started your PPF account when you are 30 years of age, the total amount (investment + interest) can be completely withdrawn after 15 years, when you are 45 years of age. -Lakshmi
