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Personal Finance Queries For The Day (01-01-2019)

Sajeesh, ssmnair2401@gmail.com, Chennai: Sir, my annual income is ?750000, I have an outstanding personal loan of ?700000. Where I pay monthly 19000. Credit card outstanding of ?152000. Gold loan. Of ?100000. I have two kids. Elder one studying in 1st and second is 1.5-year-old. I Like to close all my loan at the earliest. Can you help me out where do I invest so that I can close in min two years?

As per the income details shared, you are already paying more than 50% of your annual income towards personal loan EMI & credit card outstanding. Considering additional liabilities of gold loan, children education & living expenses it will lead to minimum monthly savings. As your goal is short-term, you need minimum Rs 25,000 to 30,000 monthly savings & investments in recurring deposit or mutual fund SIP in debt or large cap funds to repay your loans in next two years.

Jignesh Desai, jigneshdesai05@yahoo.com, Rajkot: Watch of SEBI is almost negligible on PMS as compared to Mutual Funds. My family has some shares. However, we are not sure which to keep & which to sell. Also, on the one hand, GST has been implemented which may raise India's growth by 2% but market is quite overbought. So, real expertise would be required in selecting the correct stocks to restructure our portfolio. So, we are thinking to start pms with Yes Securities. Is this wise thing to do or better to sell shares & re-invest proceeds in MF?

SEBI approved PMS schemes are available for investments above Rs 25lakh with various asset options and proven performance track records. PMS services are offering more customized services in compare to MF for large size investments, including existing stock transfer option to start PMS investment. PMS fund manager keeps the promising stocks and liquidates rest for new as per selected stock portfolio of scheme. We would suggest to check all PMS options available from known AMCs with proven performance track record of returns and consistency for your investments. Some known PMS schemes were one can invest are Motilal NTDOP, Reliance High Conviction/Enhanced Equity Portfolio(Capital Protection), ICICI Contra and IIFL Multicap Advantage Strategy.

George, gchummar@gmail.com, Kochi: Please advise whether there is any institutions in India who can insure fixed deposits of individuals held in a scheduled bank.

Scheduled bank fixed deposits are insured up to Rs. 1 lakh by the Reserve Bank of India.

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