Take a Glance at the Best ICICI Prudential Mutual Fund Schemes

The moment you hear the term Mutual Fund which is that first thing that strikes your mind? Is it NAV? The returns of previous years? Or the fund manager/s? Well, whatever the case with you but needless to say Risk associated with MFs is something which always grabs the attention of all. 

Yes, it is a matter of fact that investing in schemes is a risk, if you don’t know the nitty and gritty of the same, i.e. if you don’t know when and where to invest. Thus, it is important for you to know which schemes are the best for the investment purpose. And, in order to do so, you must know the market very well. 

You must be familiar with the best mutual funds that can give you good returns in the future. Whether its equity, debt or hybrid fund you want to park your money in, it’s important that you should have a thorough knowledge and of the same. 

 And, if you are looking to invest in the right fund as per your risk appetite, just read this article below as it will let you know about the best ICICI Prudential mutual fund schemes. So, let’s go through some of its to-performing schemes in the article below.

Take a Glance at the Best ICICI Prudential Mutual Fund Scheme

Equity Fund

ICICI Prudential Dynamic Plan

NAV:254.6

Return Since Inception:23.99%

Started On: 31 October, 2002

1 Year Return:25.99%

10 Year SIP Returns:16.03%

Minimum Investment:₹ 5,000

AUM:₹ 8640.96 Cr

Expense Ratio:2.29%

Fund Manager: Ihab Dalwai and Sankaran Naren

Portfolio Holdings: ICICI Bank Ltd. (4.75%), Infosys Ltd. (4.5%), Larsen & Toubro Ltd. (3.48%), Tata Chemicals Ltd (3.37%), Bharti Airtel Ltd (2.88%), State Bank of India (2.86%), Oil & Natural Gas Corpn. Ltd. (2.66%), ITC Ltd. (2.49%), Power Grid Corpn. Of India Ltd (2.49%), HCL Technologies Ltd. (2.43%)

Sectoral Holdings: Financial (15.64%), Energy (11.7%), Automobile (7.41%), Technology (7.08%), FMCG (6.69%), Healthcare (5.9%), Construction (4.06%), Chemicals (3.65%), Services (3.3%), Metals (3.11%)

Debt Fund

ICICI Prudential Constant Maturity Gilt Fund

NAV:13.7

Return Since Inception:10.41%

Started On: 12 September, 2014

1 Year Return:2.97%

3 Year SIP Returns:8.31%

Minimum Investment:₹ 5,000

AUM:₹ 35.55 Cr

Expense Ratio:0.33%

Fund Manager: Rahul Goswami

Portfolio Holdings: GOI 21/09/2027 8.28% (98.37%)

Hybrid Fund

ICICI Prudential Child Care Plan - Gift Plan

NAV:128.88

Return Since Inception:17.07%

Started On: 31 August,2001

1 Year Return:17.33%

10 Year SIP Returns:14.62%

Minimum Investment:₹ 5,000

AUM:₹ 438.94 Cr

Expense Ratio:2.61%

Fund Manager: Manish Banthia, George Heber Joseph  

Portfolio Holdings:GOI 01/12/2044 8.17% (9.39%), Thomas Cook (India) Ltd.(7.83%), Infosys Ltd (7.73%), Lupin Ltd. (6.25%), Blue Dart Express Ltd. (5.97%), ICICI Bank Ltd.(4.98%), GAIL (India) Ltd (4.04%), Glaxosmithkline Consumer Healthcare Ltd.(3.94%), Housing Development Finance Corpn. Ltd.(3.84%), HDFC Bank Ltd. (3.75%)

Sectoral Holdings: Healthcare (17.97%), Financial (17.95%), Services (15.45%), FMCG (12.55%),Technology (7.73%), Energy (6.03%),  Metals (2.66%) ,Automobile (1.5%)

Tax Planning

ICICI Prudential Long Term Equity Fund (Tax Saving)

NAV:340.39

Return Since Inception:21.31%

Started On: 19 August, 1999

1 Year Return:19.78%

10 Year SIP Returns:16.52%

Minimum Investment:₹ 500

AUM: ₹ 4753.1 Cr

Expense Ratio:2.32%

Fund Manager: George Heber Joseph  

Portfolio Holdings: State Bank of India (4.94%), Infosys Ltd. (4.78%),Thomas Cook (India) Ltd. (4.63%), Sundaram Finance Ltd. (3.99%), Ipca Laboratories Ltd (3.79%), ICICI Bank Ltd.(3.76%), Glaxosmithkline Consumer Healthcare Ltd (3.64%), GAIL (India) Ltd(3.63%), Lupin Ltd (3.3%), Larsen & Toubro Ltd (2.96%)

Sectoral Holdings: Financial (24.66%), Energy (14.04%) Healthcare (13.51%), Services (8.82%), Technology (8.1%),FMCG (6.79%),Construction (5.83%) ,  Metals (4.27%), Metals (3.46%), ,Automobile (3.41%)

Disclaimer - Mutual Funds are subject to market risks. Please read the scheme related documents carefully before investing.

Get Rid of Paperwork Hassles by Investing in Principal Mutual Fund Online

Want to get devoid of endless paperwork hassles that are associated with while transacting in Principal Mutual Funds? Well, in that instances, choose online transactions. The online transactions raise the frequency of selecting a particular scheme on a spontaneous basis or formulate decisions whether to buy, liquidate, switch or hold the Principal Mutual Fund units of a particular scheme. The online mode is a quick method to facilitate your all forms of transactions, thereby, sufficing you with Principal Mutual Fund statement in order to track your investments where they are heading to over a particular period of time.

Principal Mutual Fund Login

Invest in Principal Mutual Fund in the following ways:

1. For Existing Investors with IPIN

Existing investors are required to follow the simple steps:

• Get yourself registered with your User ID, Password, and IPIN
• Access to Net Banking Account with any one of the chosen banks that is associated with Principal Mutual Fund in order to invest in any of the schemes.
• Get the provision for online transactions by registering/conforming your PAN details
• Ensure that you have conformed with all the KRA Compliance requirements which are mandatory for all the Investors irrespective of the transaction amount.
  

2. For New Investors

Are you a new investor with Principal Mutual Fund? Just follow the simple steps as required:

(i) Select a Fund

• Recognize the scheme category and scheme name
• Identify the Investment Mode-Direct or Regular
• Select the 'Go' button in order to proceed further

(ii) Investor Details

Furnish the details of the applicant -First/Second/Third Applicant as mentioned below:

• Name of the Applicant
• Gender
• Father's Name
• First Applicant Date of Birth
• PAN of First Applicant
• Category-Resident/Non-Resident
• Status-HUF/Individual/Minor
• Occupation of First Applicant
• Mode of Holding-Anyone or Survivor/Single/Joint
• Income Slab of the First Applicant
• Politically Exposed Applicant1-Yes/No
• Related to Politically Exposed Applicant 1-Yes/No
• Country of Birth of First Applicant
• Place/City of Birth
• Address given at KRA
• Country of Citizenship/Nationality of Applicant 1
• Select country name of Tax Residency Applicant 1
• Foreign Tax Id No Applicant 1
• Applicant Residence No
• First Applicant Mobile No
• First Applicant Email

(iii) Purchase Application Form: This step request you to fill up the details where you are required to mention the number of units you wish to hold and the time frame you wish to stay within your scheme.

(iv) Investor Detail Confirmation : Give confirmation of your details.

(v) Purchase Confirmation: Subscribe the number of mutual fund units for which you are assured of. Give your confirmation details once you have finalized your purchase.

Principal Mutual Fund Online SIP

Don't wish to park away the entire lump-sum in one go while investing? Choose SIP then, as systematic investment plan is an option to go with whenever you wish to employ your money at frequent basis (either monthly/quarterly). In this manner, you may get a specified portion from your scheme and successfully been able to construct your corpus amount for a particular period of time. In short, SIP is the best alternative for you to invest in order to develop a disciplinary form of investing.

Principal Mutual Fund Common Application Form

Fill in the following details while you transact in Principal Mutual Fund schemes. Download the common application form online and start your journey of form filling.

1. Your name and complete address
2. If you are an NRI, your overseas address and proof to mention is compulsory
3. Bank details are obligatory, and should be correctly mentioned
4. Attach any of the mandatory documents, like proof of KYC compliance/acknowledgment wherever required.
5. Correctly fill-in your PAN details
6. Mention the mode of holding i.e. Single/Joint/Either
7. Signature of all the applicants is a must-to-do thing
8. For minor details, consider following details to be attached along with as:

• Date of birth with proof
• Name of the guardian(either the natural guardian or court-appointed legal guardian)
• Proof of guardian's relationship with the minor
• Signature of the guardian

    9. Fill in your scheme name in the application form, and select the Plan i.e. Regular and Option as of Growth/Dividend(For dividend option both Re-investment or Payout options are available).

Principal Mutual Fund Schemes

Amidst various schemes available, choose the one that exactly correlates your financial goals. Invest from amongst several Principal Mutual Fund schemes offered by the AMC.

• Principal Dividend Yield Fund
• Principal Emerging Bluechip Fund
• Principal Smart Equity Fund
• Principal Arbitrage Fund
• Principal Large Cap Fund
• Principal Growth Fund
• Principal Index Fund – Nifty
• Principal Equity Savings Fund

• Principal Personal Tax Saver Fund
• Principal Tax Savings Fund
• Principal Balanced Fund
• Principal Dynamic Bond Fund
• Principal Short-Term Income Fund
• Principal Debt Savings Fund
• Principal Money Manager Fund
• Principal Low Duration Fund
• Principal Credit Opportunities Fund
• Principal Government Securities Fund
• Principal Cash Management Fund
• Principal Global Opportunities Fund
• Principal Asset Allocation Fund of Funds

Disclaimer: Mutual Fund Investments are subject to market risks, read all scheme related documents carefully before investing.

PSU Banks Merger List : An Overview of Major Banking Reform

The merger did rounds of the approved framework by the Union Cabinet for merging state-owned banks. The consolidation of a total of 21 public sector banks with the other bank have to be done in order to phase out the bad loan problems. The merger will be able to bring the plethora of public sector banks from 21 to somewhere between 15.

 

Framework for Consolidation of Public Sector Banks

• Cabinet accepts the framework for consolidating public sector banks.
• Formulation of Alternative Mechanism(AM) to provide in-principle approval to bank proposals in order to prepare amalgamation schemes.
• After in-principle acceptance, the banks will take steps with respect to laws and SEBI's norms
• The final scheme will be disclosed by Central Government in consultation with Reserve Bank of India(RBI).
• Focus on creating strong and competitive banks in public sector spectrum in order to fulfill the credit requirements of a growing economy, absorb shocks and have the capability for raising resources without relying unduly on the state exchequer.
• The decision associating creation of strong and competitive banks would entirely be based on commercial consideration.

The decision of PSU banks merger list has been asked by Mr. Arun Jaitely, to consolidate state-run banks having a market share of about 70% and also having approx. 80% of bad loans in the Indian banking system, is focussed on building scale and strengthening their risk-taking ability.

The idea of bank mergers was first initiated around since at least 1991, when former Reserve Bank of India(RBI) governor  M. Narasimham suggested the merger of government banks into a three-tiered structure, with 3 large banks with a foreign presence at the top.

In 2014, the P. J. Nayak panel recommended that the government either merge or make the state-owned banks privately handled. The government has pinned up its hope on the performance of state-owned banks to achieve economies of scale and operational efficiency, while balancing risks in an accurate way after the merger.

Consolidation is also likely to assist in dealing better with their credit portfolio, consisting of stressed assets. Consolidation avoids multiplicity of resources being spent in the same space and bolster the banks to deal with shocks. Jaitley believed that the consolidation plan along with measures such as capital infusion i.e. capital injections in weak banks will infuse a revival.

Recently, the State Bank of India consolidated the operation of five of its associate banks and Bhartiya Mahila Bank with itself, recognizes the first consolidation move in the sector which was accompanied by the bad loan crises. Thereafter, the merger has fostered in reducing the  number of state-controlled banks to 21 from 26.

In parallel with the merger of state-owned banks(i.e. PSU banks merger list), complying of resolving stressed assets in accordance with Basel III norms are required to be done for maintaining a capital adequacy ratio of 10.875% by March 2018 and 11.50% by March 2019. Also, all eyes are set on the introduction of new accounting standards for the banks from 1 April 2018, which necessitates them to make higher provisions.

Which Bank will merge with which Bank?

1. State Bank of India

Associate Banks already Merged: State Bank of Hyderabad, State Bank of Patiala, State Bank of Travancore,  State Bank of Bikaner & Jaipur, State Bank of Mysore

Valuation of Assets:₹20,48,080 crores

2. Punjab National Bank

Banks to be Merged : Oriental Bank of Commerce (OBC), Allahabad Bank, Corporation Bank, Indian Bank

Valuation of Assets : ₹2,60,000 crores

3. Bank of Baroda

Banks to be Merged : United Bank of India, Punjab & Sind Bank

Valuation of Assets : ₹9,37,000 crores

4. Bank of India

Banks to be Merged :Andhra Bank, Bank of Maharashtra, Vijaya Bank

Valuation of Assets : ₹10,90,000 crores

5. Canara Bank

Banks to be Merged :UCO Bank, Syndicate Bank, Indian Overseas Bank

Valuation of Assets : ₹13,82,000 crores

6. Union Bank of India

Banks to be Merged : IDBI, Dena Bank, Central Bank of India

Valuation of Assets : ₹11,80,000 crores

Advantages of PSU Banks Merger

1. Improving efficiency and delivery performance of Public Sector Banks

2. Accessibility of an increased usage of the ATM network by customers

3. The reduction of cross-ATM charges would be done considerably.

4. Smaller banks customers will have the provision to access financial products like mutual funds and insurance products offered by Big Banks.

5. Larger banks have a huge capital base permitting them to provide big-ticket loans by themselves without being a member of the consortium.

Disadvantages of PSU Banks Merger

1. Smaller banks lose access base with every customer.

2. Only a few inter-linked larger banks expose the broader economy in greater percentage to financial risks.

3. The difficulty persists in the handling of human resources; career growth of senior-level managers and other workers.

Rejoice your Shopping Experience with American Express Credit Card

Explore the world of shopping experience that brings ample of emotions like happiness, ownership, caring and much more. Always remember, for your immediate purchases you are required to have your own credit card and American Express Credit is one such card that brings forward the finest range of experiences to rejoice online such as dining, shopping and travel privileges. 

Cherish the benefits of American Express Card that is enjoyable by customers that encompasses lifetime benefits, membership rewards, rebates, cashback offers, festive deals and much more.

Fulfill your plethora of requirements that exactly matches your lifestyle, taste and spending habits. Check out whether your eligibility criteria meets your worthiness to avail American Express Card.

American Express Credit Card Eligibility

Provide the following eligibility criteria for securing your own American Express Credit Card:

1. The minimum age limit of an applicant should be over 18 years of age.

2. The applicant should have a fair track record of past payments i.e. a good credit history with no default payments.

3. If you are a self-employed applicant, furnish an evidence highlighting your company's active operations for atleast 18 months(or 12 months, if you are an existing member of American Express Credit Card).

Types of American Express Credit Card

Select your preferences from a vast collection of credit cards which are available on the website of American Express Bank. They are categorized as follows:

• The American Express Platinum Card

• The American Express Gold Card

• The American Express Platinum Reserve Credit Card

• The American Express Platinum Credit Card

• The American Express Platinum Travel Credit Card

• The American Express Make My Trip Credit Card

• The American Express Membership Rewards Credit Card

American Express Credit Card Login

Wish to do transaction for maximum purchases online? Well, create a log-in account in order to undertake all the transaction activities on a single online portal. In this digital advancement, this is one of the speediest, flexible and paperless transactions which you can do immediately from any corner of the world and at any time.

American Express Credit Card Bill Payment

Wish to clear your household payments immediately? Just visit the website of American Express Credit Card account and provide your card details like 15-digit American Express Credit Card number and payment amount. Select your bank in order to initiate your payment processes. The minute you confirm your payment, you will be directed to a message indicating your online payment that has been successfully received.

American Express Credit Card Statement

Amex credit card statement is a precise overview of every billing cycle of a customer which includes several transaction list carried out on every time period and the amount required to be paid to the bank for releasing the credit card obligations. The statement is sent to every customer monthly at the customer's email id free of cost.

Amex Credit Card Statement entails the following record as under:

• Last Statement Balance

This characteristic shown on your Amex Credit Card statement indicates how much amount is outstanding on your Account during the last day of your Statement period.

• Recent Credits

This characteristic reflects sum total of payments and credits on your Account during the last day of your most recent Statement.

• Recent Debits

This characteristic reflects the total amount payable on all your purchases during your most recent Statement. It does not consist of the interest charges or fees.

• Current Balance

This characteristic indicates your last Statement balance excluding any up-to-date payments and credits that have been secured along with any charges that have been applicable on your Account since the last day of your most recent Statement period. Always rememver that the payments shouldn't involve any disputed items, suspense amounts, purchase returns or loan balances.

• Payment Due

Payments due section highlights you how much you require to pay by the date specified. It is based on the amount outstanding on your last Statement minus those payments or credit levied on your Account since the last day of your recent Statement. The applicants need to take a note that those payments should not involve disputed items, amounts in suspense, purchase returns or loan balances.

• Statement Opening Balance

Similar to your last statement balance, the statement of opening balance indicates your outstanding amount on your Card at the starting of your Statement period which includes the charges after your payments and credits have been cleared off.

American Express Credit Card Customer Care

Wish to apply from a vast range of American Credit Cards? Call your experienced customer care representative for availing  a card for all your requisite needs. Listing out the phone numbers for all the credit cards:

American Express Platinum Credit Card: 1800 419 1255/1800 180 1255/91-124-2801444/91-124-4650244

American Express Gold Card: 1800 419 1120/91-124-2801111

American Express Gold Credit Card: 1800 419 2122 / 91-124-2801122

American Express Platinum Travel Credit Card: 1800 419 2122/0124-2801122

American Express Make My Trip Credit Card: 1800 419 0691/0124-2801002

American Express Membership Rewards Credit Card: 0124-280 1418/1800 419 0167

All Bank Fixed Deposit Interest Rate: All you need to Know

Want to park away your investment without constant monitoring? Well, in this hectik life who has the time to monitor the footsteps of their investments day wise? It is easy to employ your funds in fixed deposit, a safe investment vehicle for all your needs where you don't have to seek supervision for your generated returns.

 

The time horizon you prefer investing along with the principal amount find its safe zone irrespective of the changes in monetary policies by the Government of India.

Fixed deposit as you know have been loved by all across the times throughout generations. It is believed to be a safe pavement for your returns to grow amidst time and principal amount. Now the question arises: which bank to consider? It's on you which bank to consider for your investment to give time to multiply through the power of compounding? Let's find out what rates various banks have to offer you.

Fixed Deposit Interest Rates in India

Explore various banks for fixed deposit interest rates on amount below ₹ 1 crore for both regular and senior citizens:

1. State Bank of India

Regular Citizen : 6.25% p.a.

Senior Citizen: 6.75% p.a.

2. ICICI Bank

Regular Citizen : 6.50% p.a.

Senior Citizen: 7.00% p.a.

3. HDFC Bank

Regular Citizen : 6.00% p.a.

Senior Citizen: 6.50% p.a.

4. Punjab National Bank

Regular Citizen : 6.25% p.a.

Senior Citizen: 6.75% p.a.

5. Axis Bank

Regular Citizen :6.25% p.a.

Senior Citizen: 6.75% p.a.

6. Canara Bank

Regular Citizen : 6.00% p.a.

Senior Citizen: 6.50% p.a.

7. Bank of Baroda

Regular Citizen : 6.50% p.a.

Senior Citizen: 7.00% p.a.

8. IDBI Bank

Regular Citizen : 6.00% p.a.

Senior Citizen: 6.50% p.a.

9. Bank of India

Regular Citizen : 6.25% p.a.

Senior Citizen: 6.75% p.a.

10. Bandhan Bank

Regular Citizen : 6.40% p.a.

Senior Citizen: 6.90% p.a.

Now let's explore various banks for fixed deposit interest rates on amount above ₹ 1 crore for both regular and senior citizens:

1.State Bank of India

Regular Citizen : 4.25% p.a.

Senior Citizen: 4.75% p.a.

2. ICICI Bank

Regular Citizen : 6.45% p.a.

Senior Citizen: 6.45% p.a.

3. HDFC Bank

Regular Citizen : 4.85% p.a.

Senior Citizen: 5.35% p.a.

4. Punjab National Bank

Regular Citizen : 4.50% p.a.

Senior Citizen: 4.50% p.a.

5. Axis Bank

Regular Citizen : 6.00% p.a.

Senior Citizen: 6.50% p.a.

6. Bank of Baroda

Regular Citizen : 5.25% p.a.

Senior Citizen: 5.25% p.a.

7. IDBI Bank

Regular Citizen : 5.50% p.a.

Senior Citizen: 5.50% p.a.

8. Bank of India

Regular Citizen : 4.25% p.a.

Senior Citizen: 4.25% p.a.

Fixed Deposit Interest Rate Calculator

Fixed Deposit Interest Rate calculator helps you in calculating the interest that your money will generate when employed in a fixed deposit of any bank. This will help you in getting the desired result which you are looking for. The FD Calculator discloses the principal amount on maturity which you will be getting along with the interest compounded on days or monthly, quarterly, half-yearly and yearly basis. The real figures show you the clear picture of your earnings at the end of your chosen tenure.

Fixed Deposit Form

Are you prepared to undertake fixed deposit from any of your chosen banks? Well, it's the time to fill up the application form which is compulsory for your application towards rendering your fixed deposit scheme. Simply log-in to the website of any Bank and download the application form. Fill the details such as your name,  joint account holder's name, house address, PAN number, phone number, deposit amount and tenor, attached with the nomination form which is required to start the cycle of your FD at your chosen time period.

Benefits of Fixed Deposits

• Guaranteed Returns : Fixed deposit is a safe investment vehicle which offers guaranteed returns on the amount of your investment.

• Develops saving habit : The investment deployed in a Fixed deposit is locked for a specified time period which instills a disciplined approach of saving habit in you.

• Better returns than savings account : It offers better returns in contrast as opposed to savings account as the interest rate is higher. In a savings account, you can earn interest upto 4% whereas, in fixed deposit, interest rate starts from 6.00% p.a.

• Early withdrawal : Withdrawal of invested amount in fixed deposit can be made prior to the maturity date by paying a penalty charge.

• Interest payment available at different tenures :  Interest is payable only at maturity, annually or monthly subject to the time period specified by the customer.

• Flexible tenure: The customers have the privilege of enjoying various tenure options and block their amount as long as they want. They are required to invest their money for a time interval ranging  from 7 days to 10 years.

Documents Required for Fixed Deposit

You are required to submit the following documents as particulars to be furnished for making your FD.

Identity Proof:

• Passport
• PAN Card

• Voter ID card
• Driving Licence
• Senior citizen ID card
• Government ID card
• Photo ration card

Address Proof:

•    Passport
•    Electricity bill
•    Telephone bill
•    Bank Statement with Cheque
•    Certificate/ ID card issued by Post office