Dec 08, 2002 04:46 PM
6790 Views
(Updated Dec 08, 2002 06:05 PM)
The math’s of money is no rocket science. All you need is the right someone to start you off in making your own financial decisions.
This is the message that the Times-Citigroup’s web-site https://TimesOfMoney.com gives to the Indian Investor. For any rookie or a novice with cash to spare and a heart to dare, here is a place in the ether-world where he or she can makes money’s worth sitting at home or office.
Remit2India
With the usual paraphernalia of any investment web-site (quotes, news and the works), the site also provides for buying mutual funds and transfer of money. Its Remit2India service in association with UTI Bank allows you to transfer money from the comfort of your home or office to the doorstep of the beneficiary. You can track the status of your funds, from initiation to completion and also send a personal message to the beneficiary, at no extra cost. This is an easy service for all overseas Indians who wish to send home some money.
Credit Cards
The site helps you choose a card and apply for it. it does the paperwork. Plus, it helps you choose an appropriate card based on the inputs you give using a comparison of cards. Though I thought of finding something fanciful, I ended up with a big table of comparisons between the 4 cards I selected. Nevertheless, it is a useful indicator of choice if you want to avoid the badgering of the sales guys. You can find all the information you need on credit and debit cards here.
Loans
On the loans front, you just have to tell which city you live in, the loan amount that you want and how long for. The firm’s representative will deal with the formalities, do all the legwork once they match your criteria for a personal loan. There is even a caution advice ‘before you take the plunge’ in form of FAQ’s.
The Market
For the absolute rookies on the stock market scene this site tells you how to weigh your options and how to invest wisely. You get to know how financially fit you are, what kind of an investor you are and what you can do to secure your future. Plus the usual buzz of top picks, market commentary and reviews.
You can get the following information on your investments:
o Calculate my total return from a stock
o Should I sell or hold?
o What price will give me my desired return?
o What is my dividend yield?
Small savings schemes
There is a comparison of most of the small savings options like NSC, P.O Deposits, PPF and Kisan Vikas Patra and a table comparing Interest rates of various banks apart from online investment options.
Best Of All
But the feature that caught everyone's attention a few month's ago was the Tax In 20 Minutes feature. There is a tax simulator that allows you to estimate and plan your taxes for assessment year 2002-03. This is also a one-stop shop for all tax forms. If you prepare to file returns with the site, they would even process your PAN application. First time tax payers better take a look. The best offer is that upon filling in your income details, they will work out the deductions, exemptions and liabilities. In minutes, your returns are computed and are ready for print! Moreover, they also offer submit the forms for you at the IT office and send you an acknowledgement! It works. There is the usual list of deductions applicable to guide you. A useful tax calendar to remind you of deadlines. The latest tax rate table plus tips to tax-saving investment options. There is even a quick tax calculator to provide you an arbitrary tax figure for an income you key in.
General stuff
Their Money4dummies, a financial guide to the un-initiated is no entirely for dummies. I found quite a bit of information. Like , you can use your life insurance policy as a collateral at the time of taking various kinds of loans such as housing loans, education loans and the like. Believe me, I never knew it!
The web-site provides the usual login service. It is secured by Verisign. (There are people who don’t think high of this company).
Final word
The benefits are many, principally being the convenience and the added support. The site was the first one on investments I had ever logged into. So the graphics and layout cannot be compared. The site is quite user-friendly with most options neatly laid with straight-talk captions.
The site would be exhaustive for a first-time onlooker. But if you knew what you are looking for, the road is straight. Register into it. It’s free. And use it for all those personal finance activities that you were shy of asking about.
