Archive for March, 2009

Sahara Short Term Bond Fund launched

March 12th, 2009

Sahara Mutual Fund unveils Sahara Short Term Bond Fund an open ended income fund which will opens on March 12 & will close on April 8.

Durin NFO period, the units of Sahara Short Term Bond Fund are available for subscription at Rs 10 per unit.There is no entry load. Under the scheme one can choose for dividend reinvestment option or growth option.

“This fund offers better opportunity to earn attractive returns besides having relative tax advantages.”Naresh Kumar Garg, Chief Executive Officer, Sahara Mutual Fund said,

The benchmark index for “Sahara Short Term Bond Fund” is CRISIL Liquid fund index.

Jeevan Amrit Lic Insurance policy Benefits

March 12th, 2009

Jeevan Amrit Lic Insurance policy   – Benefits – Features

About LIC Jeevan Amrit Plan:
This is suitable for the younger ones who desires  high cover at a low cost and do not want  to pay premiums for a longer duration. Under this plan premium payment is limited to 3 or 4 or 5 years and the premium payable during the first year is higher than the premiums payable in subsequent years.

Options:

You may choose Sum Assured (S.A.), Premium Paying Term, Policy Term and Mode of premium payment.

Payment of Premiums :
Option to pay premiums yearly or half-yearly during the premium paying term of 3 or 4 or 5 years.

Eligibility Conditions and Other Restrictions :
Minimum Entry Age     :  12 years (last birthday)
Maximum Entry Age     :  60 years (nearest birthday)
Maximum Maturity Age     :  70 years (nearest birthday)
Minimum Sum Assured     :  Rs. 1,00,000
Maximum Sum Assured     :  No limit
Premium Paying term     :  3 to 5 years
Policy term     :  10 to 30 years

If you are not satisfied with the “Terms and Conditions” of the policy you may return the policy  within 15 days.

Check more details at LIC website here

Ambuja Realty launched three new projects in Rajarhat worth Rs 550 cr

March 12th, 2009

Kolkata based real estate developer Ambuja Realty launched three new real estate projects in West Bengal.

It includes a 150-room hotel, a mall and an IT park (ecospace) at Rajarhat.

“We will invest Rs.250 crore (Rs.2.5 billion) for building the hotel and the mall, and Rs.300 crore (Rs.3 billion) for Ecospace,” Ambuja Realty chairman Harshavardhan Neotia said.

“All these projects will be ready in another four to five months,” Neotia said.

ASK Investment launched Rs 500 cr real estate fund

March 12th, 2009

ASK investment Holdings  a private equity firm has launched its Rs 500 crore real estate fund in the Indian market . This fund will focus on the  seven emerging cities in the country. Ask is looking to invest mainly in the residential market with a focus on 200 fundamentally strong real estate developers.

ICICI Bank reduced its home loan rates by 25-50 bps

March 9th, 2009

First large private sector Bank ICICI has slashed its home loan interest rates by 25-50 bps for new home loan customers. Earlier SBI and  Canara Bank had cuts its  interest rates on home loans.

New interest rate structure

  1. For home loans less than that of Rs 20 lakhs, the interest rates would be at 9.75% as against 10% earlier.
  2. For loans between Rs 20-30 lakhs, the new rate would be at 10% as against 10.5% earlier.
  3. For loans of Rs 30 lakhs and above, the interest rates would be at 11.5% as against 12% earlier.