Hot Deal Regarding Investment (Need Advice)

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Deal Lieutenant
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I recently became an NRI and was looking to invest in Mutual Funds. As a rookie, I was browsing through policybazaar and subsequently entered my details. I received a call from a financial planner from Policybazaar accordingly today.

So, he made me understand a lot of terms and helped me understand the various available funds.

Finally, we agreed to invest 15k per month for 5 years in HDFC life Bond Plus fund as its current NAV value was about 11 INR. So, I invested 15k through policybazaar.

Is this a good decision?

Also, I told him I am planning to invest another 35k per month. And he will be coming up with details of other funds tomorrow.

Please let me know your views as an expert. Thank you in advance.

PS.: I have only NRE/ NRO account and do not have any Demat account (which I did not require while paying the amount through policybazaar)

48 Comments  |  
19 Dimers
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No need to buy Growth Plans anymore.
Just get fund names, check performances and then invest in their Direct Plans on your own.

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What did he say about the fund that convinced you to invest?

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Akash115 wrote:

No need to buy Growth Plans anymore.
Just get fund names, check performances and then invest in their Direct Plans on your own.

through demat acc?

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Majestic wrote:

What did he say about the fund that convinced you to invest?

First benefit was capital guarantee
{its written as “Your invested amount is 100% guaranteed and will be returned at maturity.”)

Second benefit was Inbuilt life Cover of ₹11.7 Lac throughout the policy term

Third benefit was I would not have to pay taxes on the interest earned.

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InvestPotato wrote:

Congratulations. You just purchased a ULIP policy.

any suggestions if its a good investment for starter or if I should withdraw?

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rahul2004 wrote:

any suggestions if its a good investment for starter or if I should withdraw?

you are only making the agent rich by giving him 15%-35% from whatever you’ll pay, forever in life as commission. so do your maths. if we assume commssion is 25%, your 100 will instantly become 75 and that will be invested so you might think you are starting at 100 but actually you are starting at 75, a cool 25 goes to agent who just fooled you calling it a mutual fund. ulips are one of the worst products in market and should have been banned long back but insuarance cartel will never allow this to happen and even lic has started doing this.

what you bought is a life insurance policy and you should know insurance is protection against liabilities and not building of assets. what you bought is a product which will fetch you minus returns for almost lifetime as it is market linked and markets are already at peak so getting poaitive returns in coming years will anyways be impossible.

take your money back, block that person and sleep well. don’t understand why people think making money is so easy. and thus greed takes away all savings. be sane and cancel that policy as soon as possible or cry after some times on making yourself poor by some money and agent rich by same money.

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marketdimer wrote:

you are only making the agent rich by giving him 15%-35% from whatever you’ll pay, forever in life as commission. so do your maths. if we assume commssion is 25%, your 100 will instantly become 75 and that will be invested so you might think you are starting at 100 but actually you are starting at 75, a cool 25 goes to agent who just fooled you calling it a mutual fund. ulips are one of the worst products in market and should have been banned long back but insuarance cartel will never allow this to happen and even lic has started doing this.

what you bought is a life insurance policy and you should know insurance is protection against liabilities and not building of assets. what you bought is a product which will fetch you minus returns for almost lifetime as it is market linked and markets are already at peak so getting poaitive returns in coming years will anyways be impossible.

take your money back, block that person and sleep well. don’t understand why people think making money is so easy. and thus greed takes away all savings. be sane and cancel that policy as soon as possible or cry after some times on making yourself poor by some money and agent rich by same money.

Thanks bro. just cancelled it. lets see how much time policybazaar takes to refund the 15k.

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P_A_N_K_A_J wrote:

@marketdimer @bikidas2060 @MrKool_JJ investment wale guruji

@rogerthat bank wale babuji

@drjpatwa insurance wale doctorji

Sorry in advance if tags are irrelevant to you 🥺

@malikcool @tristar @Original @vijkap201 @BubbleBoyChickenLittle @guest_999 @Bk100 @enapster @titamazon @homedimer bhi hain ji market me. Bahat kuch jaante hain 🥺🥺🥺

Ham toh chota baccha.
Aur aap kissi master 🐒🐒

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marketdimer wrote:

you are only making the agent rich by giving him 15%-35% from whatever you’ll pay, forever in life as commission. so do your maths. if we assume commssion is 25%, your 100 will instantly become 75 and that will be invested so you might think you are starting at 100 but actually you are starting at 75, a cool 25 goes to agent who just fooled you calling it a mutual fund. ulips are one of the worst products in market and should have been banned long back but insuarance cartel will never allow this to happen and even lic has started doing this.

what you bought is a life insurance policy and you should know insurance is protection against liabilities and not building of assets. what you bought is a product which will fetch you minus returns for almost lifetime as it is market linked and markets are already at peak so getting poaitive returns in coming years will anyways be impossible.

take your money back, block that person and sleep well. don’t understand why people think making money is so easy. and thus greed takes away all savings. be sane and cancel that policy as soon as possible or cry after some times on making yourself poor by some money and agent rich by same money.

Perfect. Not much to say further.

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bikidas2060 wrote:
@malikcool @tristar @Original @vijkap201 @BubbleBoyChickenLittle @guest_999 @Bk100 @enapster @titamazon @homedimer bhi hain ji market me. Bahat kuch jaante hain 🥺🥺🥺

Ham toh chota baccha.
Aur aap kissi master 🐒🐒

lol, I just come to Stock market thread to learn your quick hacks bikibhai biggrin

And follow rest of the dimers who are active in this forum smile

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Ask that agent you are interest in Term insurance and health insurance (if you don’t have already). Invest in SIP in index funds .

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rahul2004 wrote:

Thanks bro. just cancelled it. lets see how much time policybazaar takes to refund the 15k.

Dont get offended, being a dimer for last 6 years, you have not learnt personal financials.
So much of knowledge is available in DD. You became a targeted consumer.

Cancellation is another mistake without knowing the refund issues.

Salaried depended person must invest in Term insurance(NOT life insurance) and FD/Debt MF/Stocks/Lands/Houses etc.

The term insurance must be more than your liability of loans taken (and if possible, the expected expenses with inflation for next 20 years).

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ramadesidime wrote:

Dont get offended, being a dimer for last 6 years, you have not learnt personal financials.
So much of knowledge is available in DD. You became a targeted consumer.

Cancellation is another mistake without knowing the refund issues.

Salaried depended person must invest in Term insurance(NOT life insurance) and FD/Debt MF/Stocks/Lands/Houses etc.

The term insurance must be more than your liability of loans taken (and if possible, the expected expenses with inflation for next 20 years).

Nothing to get offended bro. I did not have much idea about financial management until recently bro. So I was not aware about ULIP. I thought I am investing in MF only. Only after the payment did i go through everything.

Also, although I made the payment, I did not upload any document before cancellation. Also the policy was not issued, So I am hoping they will make full refund hopefully.

And I do not get much time outside of work to understand the market. So thats an issue with me. I was hoping for a fee only investment advisor, but this policybazaar turned out to be wrong.

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rahul2004 wrote:

Nothing to get offended bro. I did not have much idea about financial management until recently bro. So I was not aware about ULIP. I thought I am investing in MF only. Only after the payment did i go through everything.

Also, although I made the payment, I did not upload any document before cancellation. Also the policy was not issued, So I am hoping they will make full refund hopefully.

And I do not get much time outside of work to understand the market. So thats an issue with me. I was hoping for a fee only investment advisor, but this policybazaar turned out to be wrong.

Ok.

Most of the NRIs invest in apartments (reputed builders gated communities) in India using housing loan in India. Follow them. Just blindly follow them.

They also take Term insurance for the loan account (at least 1.5 times the loan).

Caution: Without housing loan, never buy any Real estate.

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ZitOO wrote:

Ask that agent you are interest in Term insurance and health insurance (if you don’t have already). Invest in SIP in index funds .

Can you please suggest few index fund plans

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ramadesidime wrote:

Ok.

Most of the NRIs invest in apartments (reputed builders gated communities) in India using housing loan in India. Follow them. Just blindly follow them.

They also take Term insurance for the loan account (at least 1.5 times the loan).

Caution: Without housing loan, never buy any Real estate.

there is rera now. google rera for state one is buying property and should check if that property is registereted with rera or not. if developer fails to complete project on time he has to pay back amount with interest. also if project is developing, builder can’t ask full sum and needs to be paid in installments which goes into pool of third party bank from where bulider gets money only after rera’s registered engineer’s certificate. so chances of fraud and late possession is much much less now, just one has to be cautious and buy only rera registered projects.

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You have capacity to pay 50k per month for next 5 years? Why not just buy a flat in your hometown in upcoming area and resale it after few years? Till then you can even rent it out and add that money to your EMI + this 50k.

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sardasa wrote:

You have capacity to pay 50k per month for next 5 years? Why not just buy a flat in your hometown in upcoming area and resale it after few years? Till then you can even rent it out and add that money to your EMI + this 50k.

instead buy a commercial property, with lack of jobs and unavailabilty of land, a shop will fetch more rent and won’t depreciate ever, requires very less renovation charges and can be liquidate much easily. buying a piece of land is second preference. only one can get loan on flat, should invest if possible otherwise there are huge amount of housing property available beforehand. do the business where demand is more and supply is less. with pmay, till 2022 there will be overflow of residential property.

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marketdimer wrote:

instead buy a commercial property, with lack of jobs and unavailabilty of land, a shop will fetch more rent and won’t depreciate ever, requires very less renovation charges and can be liquidate much easily. buying a piece of land is second preference. only one can get loan on flat, should invest if possible otherwise there are huge amount of housing property available beforehand. do the business where demand is more and supply is less. with pmay, till 2022 there will be overflow of residential property.

bro renting a shop will not be possible for me. But I was hoping to buy a house later on. So instead if I start investing in one of such housing projects for a 2.5-3 bhk bungalow by taking loan…i can afford 50-70k installment per month without taking any loan though. will that be a good investment?

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@rahul2004
What is your Age? Risk and for how long you want to invest…
No1 cant provide you investment options without knowing that.

ULIPs are one of the worst investment options (Higher charges, Low life cover..its as good as not their and plus unnecessary lockin)

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Sudarshan61 wrote:

@rahul2004
What is your Age? Risk and for how long you want to invest…
No1 cant provide you investment options without knowing that.

ULIPs are one of the worst investment options (Higher charges, Low life cover..its as good as not their and plus unnecessary lockin)

Bro, currently i am 32. I can go for moderate risk options with diversity in mf and a little of stocks maybe. I am hoping to invest for atleast 5-7 years.

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rahul2004 wrote:

bro renting a shop will not be possible for me. But I was hoping to buy a house later on. So instead if I start investing in one of such housing projects for a 2.5-3 bhk bungalow by taking loan…i can afford 50-70k installment per month without taking any loan though. will that be a good investment?

depends where you are, how much loss, if any, you can digest, how much prices have increased in last 1 year and so on. there is no one size fits all solution. for example there are various projects in amravati which saw huge inflated prices while most property in india is seeing time adjusted inflation that is price is not increasing with time and hence becomes good buy in case said city sees good demand in future. when you go out to buy, contact nearby owners from other projects ranging from year old to 5 year old on how much they paid to get idea if you aren’t paying more than what price should be. get idea that this much increase happened in past few years and this much is fair value. also buy only rera registered project. as i said it depends person to person and requirement, financial and family background and loss taking ability. so it may be good option for you but not for say who is putting life time savings and has a daughter for marriage coming. loan is good idea because it helps in tax purpose and you can avail pmay scheme too with woman coapplicant if this is yours and coaps first home.

Missing