A base rate is the rate of interest below which a bank cannot lend money to any company, institution or individual, except under some special situations. This is the rate that the RBI mandates every bank to calculate taking into consideration several factors, including the bank's cost of funds. In July 2010, base rate replaced prime lending rate (PLR) for banks, while non-banking financial companies (NBFCs) are still allowed to continue with PLR, which is the rate at which lenders could lend to their best borrowers and also for some products backed by securities. For example, home loan rates could be a few percentage points below PLR.
Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015
1.ICICI Prudential Tax Plan
2.Reliance Tax Saver (ELSS) Fund
3.HDFC TaxSaver
4.DSP BlackRock Tax Saver Fund
5.Religare Tax Plan
6.Franklin India TaxShield
7.Canara Robeco Equity Tax Saver
8.IDFC Tax Advantage (ELSS) Fund
9.Axis Tax Saver Fund
10.BNP Paribas Long Term Equity Fund
You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds
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