The Privilege of Making Unwanted Investments

Posted 4 CommentsPosted in Finance

ICICI Bank’s Privilege Banking is awesome! If you’re “privileged” enough to have it, you can simply walk into any Branch, push a couple of buttons on the quirky token dispensing machine (an entirely optional step), and walk right up to the Privilege Banking Counter and get your work done while the rest of the “non-privileged” […]

Reliance Life Traditional Golden Years Plan — A Guaranteed Pension Plan Or A Guaranteed Tension Plan?

Posted 1 CommentPosted in Finance

I first read about this pension plan in the ET dated June 22, 2010. I was intrigued. Basically, Reliance Life Traditional Golden Years Plan is a regular premium retirement plan that provides guaranteed return, which is declared at the beginning of every financial year during the product term. So far so good. But, The minimum […]

What Does Your ULIP Premium Do?

Posted 2 CommentsPosted in Finance

Makes you poor and your agent/insurer rich. Look what I found in my email. A job (commission-based) that allows you to be your own boss. Life insurance consultant with LIC of India (part-time or flexi-time). The job involves prospecting, understanding life insurance needs, advising on suitable options and closing the sale. It’s a freelance marketing […]

Awareness Fridays: Financial Alchemy Packaged in an Attractive Presentation is Still Financial Alchemy

Posted 2 CommentsPosted in Finance

The first time I saw this presentation (it was emailed to the administration head at my office), I screamed “WTF mate?” multiple times and in quick succession. Go through this presentation and give me one decent reason for why you would ever want to invest in this attractively packaged recipe for financial alchemy? [slideshare id=855587&doc=returnguaranteefund-1229571730583996-2&w=425] […]

Tweets on 2008-06-21

Posted 2 CommentsPosted in Finance

I hate Mutual Fund ads that harp on completely useless facts and then expect you to invest in them. The latest issue of Outlook Money carries an ad from Sundaram BNP Paribas who tout: Blah blah blah… Over a 28-year period, if you missed just the 10 best market days, the number of times your […]

Lame Finance: ICICI Bank Flexi Cash — How Dumb Does ICICI Think You Are?

Posted 3 CommentsPosted in Business & Management, Finance

From an ICICI Bank flyer, FlexiCash is a special overdraft facility offered to salaried individuals. Simply put, it gives you the benefit of having a pre-approved and pre-sanctioned cash limit in your bank account. With FlexiCash, you enjoy the double benefit of ready cash for what you need, whenever you need. From filling those shortfalls […]

Seriously Lame Finance: Reliance Index — Oops! — Quant Plus Fund — When You Don’t Know How To Manage A Fund Ask The Computer To Do That For You

Posted Leave a commentPosted in Finance

Reliance Mutual Fund has announced changes in the features of Reliance Index Fund (Nifty Plan and Sensex Plan) w.e.f. April 18, 2008. As per the proposed changes, the existing Reliance Index Fund’s name will be changed to Reliance Quant Plus Fund. Source: Moneycontrol. A classic “WTF mate?” situation. But this was to be expected sooner […]

Tweets on 2008-04-01

Posted Leave a commentPosted in Finance

Logged into my ICICI Bank account today morning in order to execute an urgent intra-bank transfer. Was greeted with the message: On account of our financial year end, this service will not be available till 15:00 hours (IST). Why should customers be inconvenienced just because a financial year ended? Can’t you close your books in […]

Tweets on 2008-02-05

Posted Leave a commentPosted in Finance

My recent experience at a State Bank of India ATM: Successfully withdraw Rs 15,000 at 09:35 IST. Successfully withdraw Rs 10,000 at 09:36 IST. The third withdrawal at 09:37 IST pops up the message: “Sorry. Your daily withdrawal limit is Rs 15,000.” WTF mate? So much for technology and core-banking and what not. I should […]

Bad Jargon, Lame Product, Lame Advertising: Bharti AXA’s AspireLife Unit-Linked Insurance Plan

Posted 1 CommentPosted in Finance

From a full-page advertisement in today’s edition of Bangalore Mirror: Bharti AXA Life Insurance presents a unit-linked insurance plan that guarantees you return of your first year premium of up to 175% at maturity and invests up to 100% of all your subsequent premiums. What kind of financial misguidance is that? Incredible. I am being […]