Asset Edition

How to withdraw 90% of your provident fund to buy a house
https://goo.gl/vQGxkX

How to withdraw 90% of your provident fund to buy a house In an effort to make its ‘Housing for all by 2022’ a success, the government has allowed for EPFO members to withdraw up to 90 percent of their provident fund accumulations to make down payments to purchase a house and to pay housing loan EMIs.

PPF rates reduced again!

The govt has reduced the rates on Public Provident Fund(PPF) from 8.1% to 8.0% w.e.f 1st Oct 2016.

Similarly, govt has revised the rates on

»Sukanya Samriddhi Yojna 8.6% to 8.5%p.a.

»KVP from 7.8% to 7.7% p.a.

»5Yr NSC from 8.1% to 8% p.a.

»1yr time deposit from 7.1% to 7.0%
Term deposits of 2,3, 5yr time deposits have also been reduced by 10bps to 7.1%,7.3% and 7.8% respectively.

»5yr senior Citizen Savings scheme from 8.6% to 8.5%

The govt has again set the platform for the RBI to reduce rates when the Monetary policy committee will meet on 4th Oct 2016.

This will signal banks to further reduce their FD rates and correspondingly interest rates on loans shall reduce.
Positive for Equity Markets.