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Sunil Lala |201 Answers |Ask -Follow

Financial Planner - Answered on Feb 16, 2023

Sunil Lala founded SL Wealth, a company that offers life and non-life insurance, mutual fund and asset allocation advice, in 2005. A certified financial planner, he has three decades of domain experience. His expertise includes designing goal-specific financial plans and creating investment awareness. He has been a registered member of the Financial Planning Standards Board since 2009.... more

Question by Raghunadh on Feb 06, 2023Hindi

Money

I have already invested 15lacs in SCSS with 7.4% interest rate. Can I convert it to 8% interest rate? Can I invest another 16lacs in the sane scheme?

Ans: No you cannot convert to 8 % however you can add further 15 Lakh

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Question by Ghansham - Feb 03, 2023Hindi

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Earlier in the scss account one could invest only 15 lakhs, but now the limit for investment has been raised to 30 lakhs , then can a person who invested 15 lakhs some years back can such a person now invest in scss account another 15 lakhs from his savings account.

Ans: Yes. You can invest Rs 15 lakh more.

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Question by PRAKASH - Apr 16, 2023Hindi

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In Nov. 2020,I have invested Rs.15 lacks in Senior citizen savings scheme in SBI at 7.4% interest. Can I close the account and open a new SCSS account since the present interest rate is 8.2%

Ans: Yes you can, provided there is not exit clause or penalities in closing the SCSS at SBI.

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Mutual Funds, Financial Planning Expert - Answered on Aug 06, 2024

Asked by Anonymous - Jul 14, 2024Hindi

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SCSS investment max ceiling is ?30 lakhs now. MIS investment max ceiling is ?9 lakhs per individual or ?15 lakhs if account is joint

Ans: SCSS (Senior Citizens Savings Scheme): The maximum investment limit has indeed been increased to

?30 lakhs per individual.

MIS (Monthly Income Scheme): The maximum investment limit is:
?9 lakhs for a single account holder.
?15 lakhs for a joint account (held by a husband and wife).

Best Regards,

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Chief Financial Planner,

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Milind Vadjikar |399 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Sep 12, 2024

Question by Soumendra - Sep 12, 2024Hindi

Money

I am 71 years and retires. Invested Rs. 30 Lakhs in SCSS and Rs. 15 Lakhs in PMVVY. Would like to invest another Rs. 10 Lakhs for requirement of Annuity. Pl suggest.

Ans: You may invest in Post Office monthly income scheme. 5 year tenure. Monthly interest payment. Current rate is 7.4%. If singly held maximum investment limit is 9 Lac and for joint holding it is 15 Lac. It is GOI scheme offered through Posts hence comes with sovereign guarantee.

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Milind Vadjikar |399 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Oct 14, 2024

Asked by Anonymous - Oct 12, 2024Hindi

Money

I am 44 years old just this month I got a very nice job with salary 2 lacs. Sad part is that I have 5 yrs more and sad part is I don't have any savings or fd or any property. How can I secure the rest of my life in investment

Ans: Hello;

Belated birthday wishes!

You may do a monthly sip of 1.5 L into combination of pure equity mutual funds.(PPFAS flexicap fund: 50 K, Kotak Emerging Opportunities Fund: 50 K, Nippon India Growth fund: 20 K, SBI small cap fund: 15 K, Tata Digital fund: 15 K)

After 5 years you may expect receive a corpus of 1.27 Cr.(13% return considered)

You may invest it lumpsum in a equity savings type fund for eg ICICI Pru equity savings fund (low to moderate risk) for 2 years and let the corpus grow to 1.51 Cr. (9% reture assumed). Here you may do 3% SWP to earn a monthly income of 37.75 K which you may hike every year to keep in line with inflation.

Do not increase SWP rate beyond 3% because if you do so then during market drawdowns you may eat into your corpus significantly.

Happy Investing!!

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

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Insurance, Stocks, MF, PF Expert - Answered on Oct 14, 2024

Asked by Anonymous - Oct 12, 2024Hindi

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I have invested 80000 in Sip in following funds JM midcap-10000, motilal oswal 8000, quant small cap 6000, Nippon small cap 6000,sbi small cap 6000,SBI contra 6000,sbi consumer opportunity 6000, Kotak pioneer and motilal oswal 5000each, Axis nifty, Nippon vision, Tata midcap,and HDFC midcap opportunity 5000 each, do I need to revise or review

Ans: What is your targeted fund corpus and the time horizon available to achieve the same?

Kindly clarify so as to answer suitably.

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Insurance, Stocks, MF, PF Expert - Answered on Oct 14, 2024

Asked by Anonymous - Oct 14, 2024Hindi

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Sir / Madam, please suggest if entering into NPS investment at an age of around 55-56 (5 years to retire) a rational decision? How long one has to keep continue to invest, once started?

Ans: Hello;

You may invest in NPS upto the age of 70.

However even auto choice would also only allow 60-50% equity allocation at this age.

If this is okay with then please go ahead.

Else you may also think about investing in ICICI Pru Retirement Fund (G) -Hybrid Aggressive plan which is a type of solution oriented mutual fund for retirement planning.

It comes with a mandatory 5 year lock-in.

Equity allocation maybe between 65-80% and debt allocation maybe 35-20%.

Select whatever suits your risk tolerance.

Happy Investing!!

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

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Asked by Anonymous - Oct 10, 2024Hindi

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Is it normal to graduate at age of 24 BTech

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Career Counsellor - Answered on Oct 14, 2024

Question by Aakshaj - Oct 09, 2024Hindi

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is engineering physic at iit delhi better or ece at iit hyd

Ans: Aakshaj, Both are GOOD. However, please note, engineering physics is a research-based course that combines physics and engineering to solve technical challenges. ECE includes the study, design, development, and application of electrical circuits, electronics, and communication systems. Which one you should choose depends upon your interest & long-term goal. All the BEST for Your Prosperous Future.

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My son is in 1 st semester BTech AI&DS. Kindly let me know the requirements to get MS in USA in Ivy league universities. Does overall cgpa matter or if cgpa is low in one semester affect his chances.

Ans: Its fine if CGPA in one of the semesters is low as long as he has a good overall cgpa. Admission to IVY league colleges focusses on a lot more aspects apart from Academics. Try to build a good profile and a good story on why you want to do the course with relevant information to back it up.

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Career Counsellor - Answered on Oct 14, 2024

Question by sunil - Oct 09, 2024Hindi

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my son is in 12th standard. Which are colleges in India which have bachelors in AI technology and also abroad. How to proceed. Is it good to computer engineering and then in Masters in AI. Kindly advise.

Ans: Sunil Sir, your son should look into engineering colleges that offer computer science courses with an emphasis on artificial intelligence. He must take entrance exams such as JEE, BITSAT, SITEEE, COMEDK, or the State Engineering Entrance Exam etc. for which he is eligible. It is recommended that he consult with a professional/approved foreign education expert about his undergraduate studies abroad. However, you should conduct a basic study on abroad education, such as preferred countries/courses, selection processes, admission criteria, visa processes, scholarships, work permits, and so on. All the BEST for Your Son's Prosperous Future.

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Asked by Anonymous - Oct 14, 2024Hindi

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I am 48 years old, I have an annual expense of approx 15 lakhs, a single kid who is currently in 9th standard. If I have to retire tomorrow, how much corpus should I have?

Ans: Hello;

You should have a minimum corpus of 3.75 Cr which if utilised to buy an immediate annuity would provide you a monthly payout of 1.31L(post tax) considering 6% annuity rate.

Happy Investing!!

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Asked by Anonymous - Oct 14, 2024Hindi

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What careed options are available after 12th commerce without maths

Ans: Hello.
There are a lot of options available after 12th commerce without mathematics. But it is highly recommended that, at least from a passing point of view, one should learn mathematics for more options. The entire mathematics is not needed for many courses but the applications of mathematics help to excel in some subjects.
Here are some options for you: (1) Law (2) Management (3) Finance (4) Hospitality (5) BBA (6) Hotel Management (7) CS (8) CA and many more. Explore your potential and interest in the relative field and choose the path.

If you are dissatisfied with the reply, please ask again without hesitation.
If satisfied, please like and follow me.
Thanks.

Radheshyam

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MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Oct 14, 2024

Question by Bhalchandra - Oct 14, 2024Hindi

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I have completed my 12th in 2013 and wish to give NEET Exam now in 2025-26. But I have less than 150 in PCB subjects, so not eligible for NEET. Can I give 12th in Maharashtra again. If yes then how? Is my plan feasible?

Ans: Hello Bhalchandra.
(1) You can appear for NEET 2025-2026.
(2) You can appear 12th again for Improvement.
(3) Approach your nearest college or board office to know how to enroll for improvement. Take your mark sheet with you when you visit the office.
(4) Your plan is not feasible. Yet, if you have decided to go for it, then you can go. Nothing is possible in the life.
What you have done after 2013, you did not mention. If you do not have any touch with science subjects after 2013, then it is recommended to drop the plan. Yet the final decision is yours. Best of luck for your future.

If you are dissatisfied with the reply, please ask again without hesitation.
If satisfied, please like and follow me.
Thanks.

Radheshyam

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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