Ultimate Guide to Effective Savings Plans for Your Financial Goals
TABLE OF CONTENT
Everyone sets aside some excess portion of their income to accumulate their wealth over time. This is called saving because the money is saved for the future, where it could be used to meet some emergency expenditure or fulfil some dreams, or even support the investors after retirement. By investing in the right instruments, investors can save their money while growing their wealth and getting good returns.

Investors have different risk appetites and may have different objectives for savings. For instance, some investors may be willing to bear the high risk to get higher returns but want short-term returns, while others will want low risk and can afford to invest for a longer duration. Some may want more liquidity, and some may be okay with investing in financial instruments with a lock-in period of a few years.

Even the current situation of the economy plays an important role in analyzing which savings options are the best. If the equity markets are too volatile, investors may prefer saving in instruments offered by banks and the government instead of market-linked saving instruments.

Factoring in all the different types of investors, here are the top 10 savings plans for investors in 2023 that offer adequate returns and tax benefits and are for an appropriate tenure.

Top 10 Savings Plans

1) Provident Fund:

Managed by the Employee Provident Fund Organization (EPFO), this is a government-led initiative to ensure employees (salaried individuals) indulge in savings that can help them after their retirement. Every month, the employer deducts a portion of the investment towards the EPF and contributes the same amount to the PF account of the employee. This gets accumulated at the annual rate of interest set by the government and can be withdrawn upon retirement or in certain emergencies. A PPF is best for someone who is planning for retirement and for those who want to avail any tax benefits. Expected returns range from 12 - 15% p/a while the risk involved in this investment product is low.

Features and benefits of PF:

  1. Up to 12% of the employee's monthly basic salary is deducted and invested in the PF account.
  2. The amount invested comes with tax benefits in the form of deductions.
  3. The employer must make an equal contribution from their end.
  4. Employees can opt for VPF (Voluntary Provident Fund) and invest a higher amount which is deducted from their salary. The employer will not have to match the VPF amount.
  5. On the first of every month, the interest is credited to the employee’s PF account and reinvested.
  6. Every year, the interest rate for the year for provident funds is announced by the government.
  7. This option is not available to non-salaried individuals. However, they may opt for Public Provident Fund, which has slightly lower returns.

2) Equity-linked Savings Scheme (ELSS):

Equity Linked Savings Schemes, or ELSS Funds, are tax-saving equity-oriented mutual funds. In order to qualify as an ELSS fund, an equity fund must invest at least 80% of its capital in equities or products with an equity component. ELSS funds are well-liked tax-saving strategies since they provide a tax exemption of up to Rs. 1,50,000 from the annual taxable income in accordance with Section 80C of the Income Tax Act. The returns from this plan have a three-year lock-in period, and beyond that time, they will be subject to long-term capital gain (LTCG) tax at a rate of 10%. (if the income is above Rs. 1 lakh). Equity-linked savings scheme offer market-linked returns with tax savings and is considered as a high-risk investment which involves liquidity risk and market risk.

Features and benefits Of ELSS:
  1. There is a lock-in period of 3 years for ELSS investments.
  2. An investment of as low as Rs. 500 per month can be made.
  3. Since they would fall under long-term capital gains, taxpayers have an exemption from tax if their returns are less than Rs. 1 lakh.
  4. At least 80% of the fund's assets should be equities.
  5. The returns can be a part of deductions under Section 80C.

Also Read: Why ELSS Should Be Your First Mutual Fund?

3) Government Bonds:

Government bonds are issued by the government to encourage investor contribution in the domestic bond market. They can be issued by both the state and the central governments. Most of the government bonds are fixed-rate bonds that carry a pre-determined interest rate which is distributed at regular intervals or can be reinvested. The maturity value is higher than the investment value, thus giving good returns. Long-term bonds carry higher returns. Government Bonds are best for someone who is looking for a safety investment option, as the risk involved is particularly low in this investment product.

Features and benefits of Government Bonds:
  1. The tenure can be 1 year and even go up to 40 years.
  2. They are debt instruments.
  3. They can carry a floating rate or a fixed rate.
  4. There are many different types of government bonds with varying maturity periods, interest rates and offers or schemes.
  5. Their returns are lower than other investment options.
  6. They are not as liquid as some other financial instruments.
  7. Apart from some specific bonds, the returns from the bonds will be subjected to regular income tax regulations.
  8. The government issues them and is entrusted with giving the returns.
  9. Some government bonds are specifically meant to offer returns that beat inflation.

4) National Pension Scheme (NPS):

National Pension Scheme (NPS) is a retirement-planning savings instrument. Anyone between the ages of 18 to 60 can opt for this scheme. It is a non-market linked savings instrument where the investor can choose from different pension fund managers and asset groups, like equity, bonds, etc., to invest in through the National Pension Scheme. It is split into two - Tier I NPS and Tier II NPS. A portion of the returns can only be withdrawn upon retirement, and the remaining portion of the returns will be distributed as monthly pension payments to the retired individual. It's best for individuals focusing on retirement planning with tax benefits for those who don’t have a liquidity crunch. It is a low risk investment

Features and benefits of NPS:

  1. If the investment in National Pension Scheme has taken place for 3 years, the investor can withdraw up to 25% of the funds for certain specified purposes.
  2. The specified purposes include medical expenses, purchasing a house or higher education for self or dependents.
  3. Upon retirement, 60% of the corpus is distributed as a lump sum, and the remaining is distributed as monthly pension payments to the individual.
  4. Only 3 withdrawals can take place before maturity, but each should have a gap of at least 5 years between them.
  5. Tax benefits are available under Section 80CCD, where a total of Rs. 2,00,000 can be claimed as a deduction if invested in NPS every year.
  6. An investor can choose to invest in NPS any number of times in a year.

5) Sovereign Gold Bonds (SGBs):

This is also a type of government bond, but they are linked to the prices of gold. Since the underlying asset is gold, these bonds are denominated in grams of gold. Therefore, investors invest in Sovereign Gold Bonds for 10 grams, 50 grams or any quantity of their choice. They carry interest and are issued at a discount and maturity at the current gold rates on the date of maturity. While the interest payouts carry tax, the maturity amount is tax-free. SGBs mature in 8 years but can be redeemed within 5 years. Sovereign Gold Bonds are a good fit for individuals looking for investments that are long-term but not if retirement, commodity non-market linked investments to balance the portfolio. The risk involved is low to medium risk.

Features and benefits SCBs:

  1. The price of gold is almost inversely proportional to the price of equities; therefore, this is a good hedge against market-linked risks.
  2. The interest payout happens at 2.5% per year, paid twice a year.
  3. The maturity period is 8 years.
  4. There is a 5-year lock-in.
  5. They can be traded on the secondary market at a profit since they are issued at a discount.
  6. Returns upon maturity are tax-free.
  7. RBI issues SGBs multiple times a year.

Also Read:Find Out How to Invest in Sovereign Gold Bonds Online Expected returns range: 2.5% per year as interest paid twice (1.25% each time), issued at a discount of Rs. 50 per gram.

6) Unit-Linked Insurance Policies (ULIPs):

Unit-Linked Insurance Policies (ULIPs) offer the dual benefit of being an investment and offering insurance coverage to investors. The investor pays a periodic premium for the insurance plan. The funds collected are invested in equity and debt-based funds to maximize returns. They come with tax benefits under section 80C and are generally long-term investments of 10 years with a lock-in period of 5 years. In some cases, the investor can choose to stop paying the premium after three years and let the invested amount grow over time. Unit-Linked Insurance Policies are medium to high-risk investments.

Features and benefits of ULIPs:

  1. Tax benefits are on the premium paid as well as the proceeds received upon maturity or funds withdrawn at the end of the 5 years lock-in.
  2. They offer market-linked returns, which is why they carry high risk against potentially high returns.
  3. They come with insurance and a sum assured of up to 10 times the amount invested.
  4. The premium paid can be claimed as a deduction under section 80C up to Rs. 1,50,000 per year, which is the cap of the entire section 80C.
  5. The sum assured and returned upon maturity or withdrawals at the end of 5 years will also be tax-free.
  6. ULIPs may have some hidden charges; therefore, investors must assess their investments carefully.

7) Real Estate Investment Trusts (REITs):

Investing in real estate has been an extremely popular form of investment in India. However, real estate prices can be extremely high and maintaining a property also comes with additional costs. Real Estate Investment Trusts (REITs) were introduced with the objective of making it easier for investors to invest a small amount and get partial shares of a commercial property on which they can enjoy the commercial rental yield. Investments are made through initial public offerings (IPOs) and follow-on offers (FPOs) of REITs that are listed on stock exchanges. A minimum investment of Rs. 10,000 to INR 15,000 is required. At least 90% of the net rental income from a REIT's portfolio must be distributed as dividends or interest to shareholders. Thus, as a REIT investor, you can profit from dividends and growth in stock value. Real Estate Investment Trusts offer commercial yield-based returns and the risk involved is medium to high-risk.

Features and benefits of REITs:

  1. The trust distributes units of Rs. 10,000 and above that can be purchased by investors. These can be understood as fractional ownership of a commercial property.
  2. At present, there are three REITs in India. They are the Embassy Business Park REIT, Mindspace Business Parks REIT, and the Brookfield India REIT.
  3. REITs don’t have too many tax benefits. Still, there are many different forms of income that the investor receives, like dividends, interest and returns from increases in the value of the units.

8) Fixed Deposits:

Fixed deposits offer a higher rate of interest than interest on funds parked in a regular savings bank. They offer fixed and guaranteed returns from the bank, but the interest rate is usually not as high as other forms of investments. Fixed Deposits are mostly liquid assets; however, if funds from a fixed deposit are withdrawn before maturity, the investor will not receive the interest and will have to pay the penalty. As a long-term investment option with minimal risk, fixed deposits could accumulate in value over time. They are also an excellent hedge for market-linked investment options. Fixed Deposits offer fixed and guaranteed returns with very low risk overall.

Features and benefits of FD:

  1. Fixed deposits have a fixed pre-determined rate of interest.
  2. Senior citizens get a higher rate of interest than other individuals from a fixed deposit.
  3. Fixed deposits come with tax benefits under section 80C for the interest earned during that year.
  4. Recurring deposits are periodic investments like fixed deposits.
  5. Fixed deposits are non-market linked; therefore, they are not affected by market volatility.

Expected returns range: 4% to 8% per annum.

9) Post Office Senior Citizen Savings Scheme:

The Post Office Senior Citizen Savings Scheme or simply called Senior Citizens Savings Scheme (SCSS), is a post office investment scheme that primarily offers financial security and a source of regular income to senior citizens post-retirement. This is applicable only to those who have reached the age of 60 or those who are 55 years of age but have retired. Considering the scheme’s target audience, the risk involved is low.

Features and benefits of Post Office Senior Citizen Saving Scheme:

  1. Deposits can be made in multiples of Rs. 1,000, but the maximum investment that can be made is Rs. 30,00,000.
  2. It has a 5-year lock-in period.
  3. The interest rate is pre-determined and announced every year.
  4. Tax benefits are available on the returns, but if the interest is above Rs. 50,000, TDS will be deducted.
  5. After the first year of the account's creation, premature withdrawals are permitted. A penalty of 1.5% of the entire deposit amount is applied to withdrawals made after one year. In contrast, a 1% penalty on the deposit value is removed for withdrawals made after two years.
  6. Using PDCs or the post office's money order system, the interest can be withdrawn.
  7. Investors are allowed to open as many accounts as they want and even do so with family members.
  8. Hindu Undivided Families (HUFs) and Non-Resident Indians (NRIs) are ineligible to invest in the Senior Citizens Savings Plan.
  9. On the first working day of January, April, July, and October, the accumulated interest is paid.
Expected returns range: 8.20% per annum for the financial year 2023-24.

10) Sukanya Samriddhi Yojana:

This is an initiative launched by the Central Government to protect and educate the girl child in India. With a minimum investment of Rs. 250 and a maximum investment of Rs. 1,50,000, this investment can only be made by family members with a daughter of less than 10 years of age. Only one account can be opened per child, and only two daughters per family can be covered under this scheme. Upon turning 18 or 21 years of age, if the girl is still in this scheme, she will get guaranteed returns. It naturally becomes a long-term investment, and investments must be made every year. Sukanya Samriddhi Yojana offers long-term investments for young girls/women with triple tax benefits with low-risk and assured returns.

Features and benefits of SSY:

  1. Tax benefits under Section 80C are available on the amount invested.
  2. The triple benefit is that the amount invested, the interest earned and the amount of returns on maturity are all exempt from tax.
  3. Withdrawal before maturity is only allowed for the higher education of the girl, and only up to 50% can be withdrawn.


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FAQ

  • Is the National Savings Certificate a good savings instrument ?

    National Savings Certificate (NSC) is a good savings instrument because it carries low risk and has a fixed income along with tax benefits.

    An individual can opt for a National Savings Certificate (NSC), which is a fixed-income savings plan, through any post office in India. The Government of India created this savings program to encourage investors, particularly those who fall into the low- or middle-income brackets, to invest while reducing their taxable income. National Savings Certificates are typically opted for by people looking for mid-range investments with tax benefits. This is because NSCs offer a fixed return and carry low risk.

    You can purchase this savings plan from your neighborhood post office. Investors must be 18 years of age or older. As a joint account, you can also purchase an NSC for a juvenile. There are two predetermined maturity years for NSCs: 5 and 10. The maximum number of NSCs that may be purchased is also unrestricted. According to Section 80C of the Income Tax Act, investments made in this savings plan up to one lakh fifty thousand rupees per year may qualify for a tax credit.

  • Are all types of savings plans tax-free ?

    Not all savings plans offer tax advantages. Only investments in some savings plans are allowed as a deduction and become tax-free. In some other cases, the interest and maturity sum are tax-free by being exempted from taxes.

  • What are the benefits of having enough savings ?

    It's vital to save money to live a hassle-free life in any circumstance. It will make it easier for people to manage any unforeseen costs and ambiguous circumstances. Having an emergency fund that can cover expenses for at least six months to a year is recommended by experts. Savings can help in the following ways:

    1. Emergencies: At any time, anyone's door could be knocked by an emergency. Having a liquid emergency fund is crucial for being ready.

    2. Uncertainties: These days, it's more likely that you'll lose your job. A family may be impacted by a sudden loss of income.

    3. Financial Discipline: Regular saving and investing can foster discipline in a person's life.

    4. Future Planning: Everyone should make plans for a brighter future. Retirement or any other financial goals can be aided by investing in long-term plans like PPF, NSC, and FDs.

 

DISCLAIMER

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.

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The Facilities Provider, ABCL, ABC Companies and the providers of information shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information contained at this Website.

Manner of Use of Personal Information

All Personal Information including Sensitive Personal Information provided/related to you, shall be stored/used/processed/transmitted expressly for the Purpose or facilities indicated thereon at the time of collection and in accordance with the Privacy Policy. Other than those otherwise indicated and agreed by You, this Website do not collect or store or share your Personal Information. Aditya Birla Capital is the brand and accordingly all products and facilities are provided by respective ABC Companies as applicable. Therefore, for any of these Purposes, the Website will use ABC Companies their authorized third party vendors, agents, contractors, consultants or facilities providers (individually a ‘Third Party Service Provider’ and collectively, the “Third Party Service Providers”) and to that extent you understand and authorize the Facilities Provider to share/transmit such information to Third Party Service Providers. Such sharing of information will be solely for the purpose to fulfill / complete / authenticate your specific requests/transaction execution and for providing information about any ABC Companies product or facilities or services or for data analytics or to deliver to you any administrative notices, alerts or communications relevant to your Purpose (and which may include sending promotional emails or SMS or calls or any other mode permitted under law) or to analyze the usage and improve the facilities/solutions offered or for any research or troubleshooting problems, detecting and protecting against errors or to improve features, tailor the facilities on the Website to your interests, and to get in touch with you whenever necessary.

Except in the manner as stated in the Privacy Policy, the Website will not disclose your Personal Information with any affiliated or unaffiliated third parties,

You may receive e-mails /communications/notifications from the Third Party Services Providers regarding facilities updates, information/promotional e-mails/SMS and/or update on new product announcements/services in such mode as permitted under law.

Use of Website in India

This Website is controlled and operated from India and there is no representation that the Materials/information are appropriate or will be available for use in other locations. If you use this Website from outside the India, you are entirely responsible for compliance with all applicable local laws. There is no warranty or representation that a user in one region may obtain the facilities of this website in another region.

Information published on the Website may contain references or cross references to products, programs and facilities offered by ABC Companies/third parties that are not announced or available in your country. Such references do not imply that it is intended to announce such products, programs or facilities in your country. You may consult your local advisors for information regarding the products, programs and services that may be available to you.

In your use of the Website, you may enter correspondence with, purchase goods and/or facilities from, or participate in promotions of advertisers or members or sponsors of the web site, including those of ABC Companies. Unless otherwise stated, any such correspondence, advertisement, purchase or promotion, including the delivery of and the payment for goods and/or facilities, and any other term, condition, warranty or representation associated with such correspondence, purchase or promotion, is solely between you and the applicable ABC Companies and/or third parties.

You agree that Facilities Provider / ABC Companies has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any other ABC Companies and/or third parties.

Third party websites

This Website may be linked to other websites (including those of ABC Companies) on the World Wide Web that are not under the control of or maintained by ABCL. Such links do not indicate any responsibility or endorsement on our part for the external website concerned, its contents or the links displayed on it. These links are provided only as a convenience, in order to help you find relevant websites, facilities and/or products that may be of interest to you, quickly and easily. It is your responsibility to decide whether any facilities and/or products available through any of these websites are suitable for your purposes. The Facilities Provider or ABCL is not responsible for the owners or operators of these websites or for any goods or facilities they supply or for the content of their websites and does not give or enter into any conditions, warranties or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external web site to which this web site includes a link infringes the intellectual property rights of any third party).

USE of APP

In case any facilities/services, access/dissemination of information or execution of transaction is done through use of any APP related to ABC Companies, the additional terms and conditions governing the Use of APP shall be applicable and to be read along these Terms of Use.

Postings and monitoring

The Facilities Provider or ABCL or ABC Companies does not routinely monitor your postings to the Website but reserves the right to do so if deemed necessary if it is related to the facilities offered on the web site and to comply with law. However, in our efforts to promote good citizenship within the internet community, if the Facilities Provider or ABCL or ABC Companies becomes aware of inappropriate use of the Website or any of its facilities, any information, opinions, advice or offers posted by any person or entity logged in to the Website or any of its associated sites is to be construed as public conversation only, and the Facilities Provider or ABC Companies shall not be liable or responsible for such public conversation. You agree that in such cases, we will respond in any way that, in our sole discretion, as deemed appropriate. You acknowledge that Facilities Provider or ABC Companies will have the right to report to law enforcement authorities any actions that may be considered illegal, as well as any information it receives of such illegal conduct. When requested, ABC Companies/Facilities Provider will co-operate fully with law enforcement agencies in any investigation of alleged illegal activity on the internet.

Submissions and unauthorized use of any Materials contained on this Website may violate copyright laws, trademark laws, the laws of privacy and publicity, certain communications statutes and regulations and other applicable laws and regulations. You alone are responsible for your actions or the actions of any person using your user name and/or password. As such, you shall indemnify and hold Facilities Provider, ABCL / ABC Companies and its officers, directors, employees, affiliates, agents, licensors, and business partners harmless from and against any and all loss, costs, damages, liabilities, and expenses (including attorneys' fees) incurred in relation to, arising from, or for the purpose of avoiding, any claim or demand from a third party that your use of the Website or the use of the Website by any person using your user name and/or password (including without limitation your participation in the posting areas or your submissions) violates any applicable law or regulation, or the rights of any third party.

We reserve the right to terminate access to this Website at any time and without notice. Further this limited license terminates automatically, without notice to you, if you breach any of these Terms of Use. Upon termination, you must immediately destroy any downloaded and printed Materials.

If you come across any breaches/violation or offensive material you must report to us at abc.secretarial@adityabirla.com

Use of Cookies

You agree and understand that the Website will automatically receive and collect certain anonymous information in standard usage logs through the Web server, including computer/computer resource-identification information obtained from "cookies" sent to your browser from a web server or other means as explained in the Privacy Policy.  

Facilities Changes and Discontinuation

The Website reserves the right to discontinue or suspend, temporarily or permanently, the facilities. You agree that the Facilities Provider/ ABC Companies will not be liable to you in any manner whatsoever for any modification or discontinuance of the facilities. The format and content of this Website may change at any time. We may suspend the operation of this Website for support or maintenance work, in order to update the content or for any other reason.

ABCL, ABC Companies, and its directors, employees, associates, or other representatives shall not be liable for any damages or injury, arising out of or in connection with the use, or non-use including non-availability of the Website and also for any consequential loss or any damages caused because of non-performance of the system due to a computer virus, system failure, corruption of data, delay in operation or transmission, communication line failure, or any other reason whatsoever. The Website will not be responsible for any liability arising out of delay in providing any information on the Website.

Compliance with the Law

You agree that you will not:

  • Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, programme, algorithm or methodology to access, acquire, copy or monitor the Website, or any portion of the Website.
  • Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation, browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Website, other than the search engines generally available by third party web browsers
  • Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interferes with the proper working of the Website or the facilities.
  • Attempt to decipher, decompile, disassemble, or reverse engineer any of the software, comprising or in any way making up a part of the Website or the facilities.
  • You agree not to use the facilities for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another's privacy, abusive, threatening, or obscene, or that infringes the rights of others.

Restrictions on Commercial Use or Resale

Your right to use the facilities is personal to you; therefore, you agree not to resell or make any commercial use of the facilities. In addition, the Website welcomes your feedback as a user of the facilities. Any feedback you provide will become the confidential and proprietary information of the Website, and you agree that the Website may use in any manner and without limitation, all comments, suggestions, complaints, and other feedback you provide relating to the Website. The Website shall have a worldwide, royalty-free, non-exclusive, perpetual, and irrevocable right to use feedback for any purpose, including but not limited to incorporation of such feedback into the Website or other Website software or facilities.

No Endorsements

All product and facilities marks contained on or associated with the facilities that are not the Website marks are the trademarks of their respective owners. The Website would require you to respect the same. References to any such names, marks, products or facilities of third parties or hypertext links to third party sites or information does not imply the Website’s endorsement, sponsorship or recommendation of the third party, information, product or facilities.

Promotional Offers

You may receive from time to time, announcement about offers with intent to promote this Website and/or facilities/products of ABC Companies (“Promotional Offers”). The Promotional Offer(s) would always be governed by these Terms of Use plus certain additional terms and conditions, if any prescribed. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these Terms of Use, to the extent they may be in conflict with these Terms of Use. The Website reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion.

Charges for use of Website

There are no charges or fees to be paid by you for use of this Website. However, you are responsible for all telephone access fees and/or internet service fees that may be assessed by your telephone and/or internet service provider. You further agree to pay additional charges, if any levied by Third Party Service Provider(s), for the facilities provided by them through the Website (Additional Charges).

No Endorsement

You are advised to be cautious when browsing on the internet and to use good judgment and discretion when obtaining information or transmitting information. From this Website, users may visit or be directed to third party web sites. The Website makes no effort to review the content of these web sites, nor is the Website or its licensors responsible for the validity, legality, copyright compliance, or decency of the content contained in these sites.

In addition, the Website does not endorse or control the content of any other user and is not responsible or liable for any content, even though it could be unlawful, harassing, libelous, privacy invading, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable, or that it infringes or may infringe upon the intellectual property or other rights of another. You acknowledge that the Website does not pre-screen content, but that the Website will have the right (but not the obligation) in their sole discretion to refuse, edit, move or remove any content that is available via the facilities.

Electronic Communications

These Terms of Use and any notices or other communications regarding the Facilities may be provided to you electronically, and you agree to receive communications from the Website in electronic form. Electronic communications may be posted on the Website and/or delivered to your registered email address, mobile phones etc either by Facilities Provider or ABC Companies with whom the services are availed. All communications in electronic format will be considered to be in "writing". Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. If you revoke your consent to receive communications electronically, the Facilities Provider shall have the right to terminate the facilities.

Assignment

You shall not assign your rights and obligations under this Agreement to any other party. The Website may assign or delegate its rights and/or obligations under this Agreement to any other party in future, directly or indirectly, or to an affiliated or group company.

Legal Disclaimers

The information provided on or through the Website is for general guidance and information purposes only and they do not in any manner indicate any assurance or opinion of any manner whatsoever. Any information may be prone to shortcomings, defects or inaccuracies due to technical reasons. Certain information on Website may be on the basis of our own appraisal of the applicable facts, law and regulations in force at the date hereof.

The information (and opinions, if any) contained on the Website may have been obtained from public sources believed to be reliable and numerous factors may affect the information provided, which may or may not have been taken into account. The information provided may therefore vary (significantly) from information obtained from other sources or other market participants. Any reference to past performance in the information should not be taken as an indication of future performance. The information is dependent on various assumptions, individual preferences and other factors and thus, results or analyses cannot be construed to be entirely accurate and may not be suitable for all categories of users. Hence, they should not be solely relied on when making investment decisions. Your investment or financial decision shall always be at your own discretion and based on your independent research; and nothing contained on the Website or in any information would construe ABCL/ABC Companies or any of its employees/authorized representative as having been in any way involved in your decision making process. Any information and commentaries provided on the Website are not meant to be an endorsement or offering of any stock or investment advice.

Nothing contained herein is to be construed as a recommendation to use any product, process, equipment or formulation, in conflict with any patent, or otherwise and Facilities Provider / ABCL/ABC Companies makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. Information on this Website sourced from experts or third party service providers, which may also include reference to any ABCL Affiliate. However, any such information shall not be construed to represent that they belong or represent or are endorsed by the views of the Facilities Provider or ABC Companies. Any information provided or sourced from ABCL Affiliate belongs to them. ABCL is an independent entity and such information from any ABCL Affiliate are not in any manner intended or to be construed as being endorsed by ABCL or Facilities Provider. The information does not constitute investment or financial advice or advice to buy or sell, or to endorse or solicitation to buy or sell any securities or other financial instrument for any reason whatsoever. Nothing on the Website or information is intended to constitute legal, tax or investment advice, or an opinion regarding the appropriateness of any investment or a solicitation of any type. Investment in the securities market and any financial instruments are inherently risky and you shall always assume complete and full responsibility for the outcomes of all the financial or investment decisions that you make, including but not limited to loss of capital. You are therefore advised to obtain your own applicable legal, accounting, tax or other professional advice or facilities before taking or considering an investment or financial decision.

No Solicitation

No Information at this Website shall constitute an invitation to invest in ABCL or any ABC Companies. These are meant for general information only or to meet statutory requirements or disclosures. ABCL or any of its employees are in no way liable for the use of the information by you, when making any decision or investing or trading through any investment vehicles or ABC Companies, or any other third party which may be engaged in offering of these services.

The information contained on this Website does not represent and should not be used to construe (i) the terms on which a new transaction would be entered into by ABCL or ABC Companies, (ii) the terms on which any existing transactions could be unwound by ABCL or ABC Companies, (iii) the calculation or estimate of an  amount that would be payable following an early termination of any past/existing transactions or (iv) the valuations given to any transactions by ABCL or ABC Companies in their books of account for financial reporting, credit or risk management purposes.

Statutory Disclosure

ABCL and ABC Companies are engaged in a broad spectrum of activities in the financial services sectors. You understand and acknowledge that Aditya Birla Money Limited (‘ABML’), Aditya Birla Finance Limited (‘ABFL’) and Aditya Birla Sun Life Asset Management Company Limited and trustees and sponsor of Aditya Birla Sun Life Mutual Fund (‘ABSLMF’) are group companies and ABML / ABFL also acts as a distributor of ABSLMF.  Any recommendation or reference of schemes of ABSLMF if any made or referred on the Website, the same is based on the standard evaluation and selection process, which would apply uniformly for all mutual fund schemes. You are free to choose the execution facilities in the manner deemed fit and proper and no commission will be paid by ABSLMF to ABML / ABFL if you choose to execute a transaction with ABSLMF on the Website, unless otherwise agreed by you and ABML/ABFL separately. Information about ABML/ABFL, its businesses and the details of commission structure receivable from asset management companies to ABML/ABFL, are also available on their respective Website.

Similarly Aditya Birla Money Insurance Advisory Services Limited and Aditya Birla Insurance Brokers Limited are insurance intermediaries and engaged in the distribution of Insurance Products and it may services may include products of Aditya Birla Sun Life Insurance Company Limited and Aditya Birla Health Insurance Company Limited. However there is no conflict on these services and commissions if any payable are in accordance of the extant regulations.

Force Majeure

The Facilities Provider, ABC Companies and any of its Third Party Service Providers shall not be liable for any delay or failure in performance resulting directly or indirectly from acts of nature, forces, or causes beyond their reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, labour disputes, riots, insurrections, civil disturbances, shortages of labour or materials, fires, flood, storms, explosions, acts of God, war, earthquake, governmental actions, orders of domestic or foreign courts or tribunals, non-performance of third parties, or loss of or fluctuations in heat, light, or air conditioning.

Indemnification

You agree to protect and fully compensate Facilities Provider, ABCL, ABC Companies, subsidiaries, licensors, suppliers and facilities providers, employees, officers and directors, from any and all third party claims, liability, damages, expenses and costs (including but not limited to reasonable attorneys fees) caused by or arising from your use of the facilities, your violation of the Terms of Use or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.

No Waiver

The Facilities Provider, ABC Companies or any of its third party service providers and processor bank/merchants etc. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

Exclusive Agreement

You agree that these Terms of Use are the complete and exclusive statement of agreement supersede any proposal or prior agreement, oral or written, and any other communications between you and the Facilities Provider and its Third Party Service Providers or processor bank/merchants relating to the subject matter of these Terms of Use. These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the Website and/or the processor bank.

Termination

Either party can terminate this Agreement by notifying the other party in writing. Upon such termination You will not be able to use the facilities of this Website.

Governing Law and Jurisdiction

The Website specifically prohibits you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use. The Website is specifically for users in the territory of India. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Mumbai having exclusive jurisdiction.

These Terms and Conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. You agree, in the event of any dispute arising in relation to these Terms and Conditions or any dispute arising in relation to the Website whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Mumbai, India for the resolution of all such disputes.

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