A forex card is a safe option to carry while travelling abroad. It also protects against exchange rate fluctuations during the travel period. It is very easy to obtain a forex card and it can be bought from any authorised dealer or bank.
Form
A prescribed form must be filled by the traveller. This can be downloaded from the bankdealer website or from the nearest branch. Some banks also provide for online application for forex cards.
Type of cards
A multi currency card allows more than one currency to be loaded. A student card bundles insurance and discounts on educational material. Choose a card according to your requirements.
Information
Personal details of the traveller, dates of travel, passport number, PAN, types of foreign currency to be loaded on the card should be filled in. Amount of forex to be loaded should be mentioned in the form.
Fees
A card issuance fee may be charged by the bank at the rates prescribed from time to time.
Documents
The application needs to be supported by a copy of one's passport. A copy of the air ticket may be required. A cheque or debit instruction for the amount to be loaded with the fees needs to be submitted. It takes about 4 -5 days to process and receive personalised forex cards.
Reloading the card
The card can be reloaded with additional forex by filling up a reload form and submitting a cheque or a debit instruction for the required amount.
An existing bank account is not required with the bank to obtain a forex card.
Banks provide online access to view statements and reload the forex card online.
Invest Rs 1,50,000 and Save Tax up to Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds. Save Tax Get Rich
For further information contact SaveTaxGetRich on 94 8300 8300
OR
You can write to us at
Invest [at] SaveTaxGetRich [dot] Com
OR
Call us on 94 8300 8300
SAA is a portfolio building method which is completely aligned to investor objectives (return) and constraints (risk).
SAA involves detailed assessment of an investor's goals and their preferences toward risk through discussions and questionnaires.
It is usually implemented by determining the risk and return profile of the investor and assigning a model portfolio that reflects their preferences.
SAA involves periodic rebalancing resulting either from the shift in allocations due to performance of asset classes over time or change in investor needs leading to changes in desired allocation.
Asset class selection does not take into account any positive or negative views of asset class performance in the near future.
Invest Rs 1,50,000 and Save Tax up to Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds. Save Tax Get Rich
For further information contact SaveTaxGetRich on 94 8300 8300
OR
You can write to us at
Invest [at] SaveTaxGetRich [dot] Com
OR
Call us on 94 8300 8300
Aditya Birla Sun Life Balanced Advantage Fund (An Open ended Asset Allocation Scheme) not only offers a balanced approach to investments but also provides equity taxation benefits on investments.
This fund is structured in a way that the minimum exposure to equity is at 65% which allows the fund to be eligible for tax benefits under Equity on the entire amount invested after 1 year of investment. (Holding Mutual Fund investments in equity oriented funds for more than 1 year classifies it under the Equity category hence the outcome being Long Term Capital Gain or Long Term Capital Loss which is not taxable).
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