HDFC Bank INFINIA Card Launched for Only 5000 Individuals

Recently, HDFC Bank announced to launch a new credit card for the rich people of the country named – INFINIA. Initially, the bank will issue only to 5000 individuals.

The ultra premium credit card is featured with virtually “no limits” – not just in terms of spend, but also the luxuries as per the announcement of HDFC Bank.

An online news portal - economictimes.indiatimes.com about business and economy, quotes a statement of HDFC Bank Managing Director Aditya Puri about INFINIA Credit Card,

“…What prompted us to conceive INFINIA was the need our clients felt for such a product. We are confident INFINIA will soon be the card of choice for India's rich.”

So, INFINIA is launched by HDFC to satisfy the need of the Bank’s clients. The card is introduced as the choice for India’s rich.

Further the news portal quotes a statement of HDFC Bank Country Head (Retail Assets and Credit Cards) Pralay Mondal,

“…HDFC Bank already enjoys the highest mind and wallet share in credit cards. With INFINIA, we will redefine the lifestyle experience of the elite.”

So, HDFC Bank thinks to redefine the lifestyle experience of the elite. The bank has already targeted highest mind of India to share experience of credit cards.

INFINIA Card will be available in both Visa and MasterCard format. The card is launched for India's High Networth Individual (HNI) population.

HDFC Bank INFINIA card will became the honorable card for the rich population of India. The bank will initially offer the card only to 5000 HNI population.

HDFC Bank has 186 distribution network and 5,471 ATMs in 996 cities in India as on March, 2011. HDFC is one of the most influencing banks in Indian banking sector. Indian financial market is taking a new shape with banking institutions. Loans against Gold ETF Units of Muthoot Finance have given a new vision to the Indian investors.

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Loans against Gold ETF Units to be offered by Muthoot Finance

Recently, Muthoot Finance Ltd announced to offer loans against Gold ETF (Exchange Traded Funds) units as security. The Company claims to be the largest gold finance NBFC in India.

An online news portal about business and economy - economictimes.indiatimes.com quotes a statement of Muthoot Finance Ltd Managing Director George Alexander Muthoot about loans against gold ETF units,

“loans against gold ETF units was a scheme through which Muthoot Finance plans to venture into a totally new segment of gold financing, which would not only add value, but also enable the company to service the financial requirements of newer customer segments.”

Further he adds,

“The new scheme would come into force by this month end and would enable the customers to avail finance at the rate of 15 per cent interest against their Gold ETF units to the extent of 85 per cent of the Net Asset Value of ETFs.”

The news portal quotes a statement of Sunita Anand also who is National Stock Exchange Assistant Vice-President and Southern Region Head,

“Gold ETFs have seen a progressive rise in popularity throughout the country over the past two to three years, attaining a whopping size of over Rs 5,000 crore as of June this year, resulting out of active investments from over 320,000 investors.”

In an analysis of the fund, the news portal writes,

“Commonly referred as 'paper gold', gold ETFs are mutual fund units issued by asset management companies against 99.5 per cent purity physical gold deposited with a SEBI-registered custodian.

These funds are passively managed and mirror domestic gold prices. By enabling investors to invest in gold without holding it in physical form, gold ETFs offer a rather unique investment opportunity to investors.”

So, essence of the gold ETFs offer is giving a rather unique investment opportunity to investors by Muthoot Finance Ltd. It is introduced just after Loan against Gold Units of Reliance Commercial Finance.

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Loan against Gold Units Launched by Reliance Commercial Finance

Recently, Reliance Commercial Finance (RCF), part of the Anil Dhirubhai Ambani Group, launched a unique initiative plan – loan against gold.

An online news portal - economictimes.indiatimes.com, writes about the offer,

“Customers can avail of loans up to 90 percent of the value of gold units held, while the minimum amount offered under this initiative would be Rs.100,000 and the maximum would be Rs.1 crore.

The tenure of the loans will vary from 6 months to 12 months and can be paid in easy repayment options available under the initiative.”

The news portal adds a statement of K.V. Srinivasan, chief executive of Reliance Commercial Finance also,

“These loans, being offered by RCF, are part of an exclusive tie-up with Reliance Mutual Fund and would initially be available to investors of Reliance Gold Savings Fund only. We strongly believe that gold funds have opened an entirely new avenue for offering loans to customers. We expect this segment to ramp up aggressively as investors start embracing this form of gold for future investments. The tie-up provides a unique opportunity for Reliance Gold Savings fund investors to unlock the value of their savings held in form of Gold mutual fund units. Investors will continue to enjoy benefit of gold price appreciation during the tenure of loan.”

The news portal writes about the character of loan against gold units,

“Reliance gold savings fund enables investments in the precious metal in paper form, without having to open a dematerialised account. In other similar funds, a demat account is mandatory.”

This facility is offered across 17 locations in India. These are launched with an exclusive tie-up with Reliance Mutual Fund. It would initially be available to investors Reliance Gold savings fund only. So, it enables investments in the precious metal in paper form. It is launched just after Reliance SIP in gold savings fund.

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Equity Plus Scheme Launched by Sundaram Mutual Fund

Recently, Sundaram Mutual Fund launched Equity Plus scheme, an open-ended scheme. The scheme was open for only May 16, 2011. It is closed now. It was open from May 4, 2011.

An online news portal about business and economy - economictimes.indiatimes.com, writes about the Sundaram Mutual Fund Equity Plus scheme,

“Sundaram Equity Plus aims to invest between 65-85 per cent in equity to give all the tax advantages of a designated equity fund and a maximum of 35 per cent in gold ETF.”

So, Sundaram Equity Plus is aimed to invest more than 80% equity to give all the tax advantages of a designated equity fund.

The portal quotes a statement of Sundaram Mutual Fund's Director-Sales & Marketing, Sunil Subramaniam also,

“The scheme will primarily focus on opportunities in Indian equities with the addition of gold-ETF to provide diversification and exposure to the relative attractiveness of gold in certain phases. The investors will get benefit from equity and gold ETF- two asset classes in terms of capital appreciation and avail tax benefits.”

It provides diversification and exposure to the relative attractiveness of gold in certain phases as per the stamen of Sunil Subramaniam who is the Sundaram Mutual Fund's Director-Sales & Marketing.

It quotes the statement of Sundaram Equity Plus Fund Manager, Srividhya Rajesh also,

“The performance of the scheme will be benchmarked to the S&P CNX Nifty index for the equity and equity related instruments and to the price of gold for the investments in gold-ETF. The objective of this scheme would be to seek capital appreciation by investing in equity and equity-related instruments listed in India to the extent of at least 65 per cent and in gold-ETF up to 35 per cent.”

The news portal writes about the Sundaram Mutual Fund,

“Sundaram Mutual Fund, a major player in the fund management has an average asset under management (AUM) of about Rs 14,556 crore as on April 2011.”

We already have experienced Samridhi Plus of LIC. Now, tell your experience with Equity Plus Scheme of Sundaram Mutual Fund.

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Pramerica Fixed Duration Fund-Series 2 Launched by Pramerica MF

Recently, Pramerica Mutual Fund announced to launch of a close-ended income scheme. It is Pramerica Fixed Duration Fund-Series 2.

About Pramerica Fixed Duration Fund-Series 2 an online news portal about business and economy - economictimes.indiatimes.com writes,

“Pramerica Fixed Duration Fund-Series 2 is open for subscription from March 24 till March 28, 2011. The duration of the fund will be for 366 days from the date of allotment, including the date of allotment.”

Further it quotes a note of press release,

“The scheme seeks to provide reasonable returns, commensurate with a moderate level of risk, through investments in a portfolio of debt and money market instruments. The scheme has low credit risk and is tax-efficient.”

So, the scheme is aimed to provide reasonable returns with a moderate level of risk. It is a low credit risk and tax-efficient scheme.

The online news portal quotes a statement of Mahendra Jajoo who is the Pramerica Executive Director and CIO-Fixed Income,

“FMPs can be an ideal product for all investors who wish to invest in a product with moderate risk for a fixed tenure and earn tax-efficient returns. In the mid-quarter Monetary Policy review conducted on March 17, RBI hiked key rates by 25 bps.”

"Bank CDs are currently trading at attractive yields and with the fresh round of rate hike, they are expected to stabilise around these attractive levels. Thus, this could be an opportune time to invest in a FMP.”

It is time to invest in a FMP when bank CDs are currently trading at attractive yields. It is being considered as an ideal product for all investors who wish to invest in a product with moderate risk for a fixed tenure and earn tax-efficient returns. It is the most appreciating product like Samridhi Plus of LIC.

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Bright Stars Power Plus and Wonder Years Retirement Plan Launched by Bharti AXA Life

Recently, Bharti AXA Life announced to launch two new insurance plans - Bright Stars Power Plus and Wonder Years Retirement Plan.

Wonder Years Retirement Plan is a retirement plan of Bharti AXA Life. It is a traditional product and offer combined benefits of guaranteed returns and life insurance cover.

Bright Stars Power Plus is a child plan of Bharti AXA Life. The insurance plan is featured with protecting and building savings for the child's key lifestages.

An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement of Bharti AXA Life Chief Marketing & Operations Officer Mark Meehan,

“Both the products are based on extensive consumer research and hence address the needs highlighted by customers. They have been specifically designed to provide returns at the key life stages.”

So, both products have been introduced after having researched of market and consumers’ requirement. The plans have been designed to provide returns at the key life stages.

The news portal writes about the insurance plans,

“While the retirement plan - Bharti AXA Life Wonder Years Retirement Plan - will be a traditional product and offer combined benefits of guaranteed returns and life insurance cover.

The child plan - Bharti AXA Life Bright Stars Power Plus - would have the features that protects and build savings for the child's key lifestages.”

So, these insurance plans are compatible with new requirement of customers. These are as impressive as Samridhi Plus of LIC.

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Samridhi Plus Launched by LIC under ULIP Portfolio

Recently, Life Insurance Corporation of India launched - Samridhi Plus. It is launched under unit linked portfolio. It is aimed to offer insurance protection, safety and growth.

An online news portal about business and economy - economictimes.indiatimes.com, writes about the Samridhi Plus,

“The minimum age at entry level for Samridhi Plus is 8 years while the maximum age is 65 years.

The minimum premium ranges from Rs 1500 (monthly - ECS) to Rs 30,000 (single premium) depending on the mode of payment while the maximum is Rs 1 lakh per annum under any mode for the 5 year premium paying term.”

So, LIC has minimized and maximized the age of entry level for the Samridhi Plus. There is 8 years minimum age and 65 years maximum age for the insurance policy.

Premium of Samridhi Plus is also affordable and flexible which starts from 1500 monthly amount. There is 1 lakh per annum under any mode for the 5 year premium paying term.

It quotes a statement of LIC also,

“Samridhi Plus safeguards policyholders' investment from market fluctuations. Accident benefit option is also available under this plan that will be equal to the life cover up to a maximum of Rs 50 lakh; subject to certain conditions. The policy term for the plan is fixed for 10 years.”

So, there is an accident benefit option also under this plan. It will be known as equal to the life cover up to a maximum of Rs. 50 lakh. It is fixed for 10 years for the policy term.

Samridhi Plus is launched with the new aspect of flexibility in the insurance sector. You are able to choose it according to your needs and requirement. The plan is really impressive for all age. The plan is as impressive as Life Shield Platinum and Aviva Dhan Varsha of Aviva Life Insurance.

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