Photo Album - November 2011 - Manoj's House

On my post, the snaps are taken from surroundings of my cousin Manoj Kumar's house in Nemom, where is in Trivandrum.  These things are locally I found.

Red Hibiscus
Malayalam: Chuvanna Chembarathi/ചുവന്ന ചെമ്പരത്തി

East Indian Rosebay
Medicinal plant used in Ayurveda
Malayalam: Nandyarvattam/നന്ദ്യാര്‍വട്ടം

Ixora Flower
Malayalam: Thetti Poovu/തെറ്റി പൂവ് 

Malayalam: Pappaya/പപ്പായ 

irecracker Flower
Malayalam: Kanakambaram/കനകാംബരം 

Banana Tree
Malayalam: Vaazha/വാഴ 

Bird's eye chili
Malayalam: Kanthari Mulagu/കാന്താരി മുളക് 

Malayalam: Chakka/ചക്ക 

Snap@Moment - Golden Shower Tree (കണിക്കൊന്ന)

While searching some files on my computer, I noticed some photos.  I would like to present those nostalgic photos to you, because they were from my initial photography and captured by my colleague Mr. Anulal’s camera.

Trivandrum/Thiruvananthapuram Museum, Kerala, INDIA

Recurring Deposit (RD) - A magic of interest compounding

I would like to share one of my experiences in the life.  Year back I had an old motorbike.  So I thought to buy a new one.  For that I needed Rs. 60,000/-.  But I was unable to collect that much money together.  I planned to apply for a loan and approached the Bank.  The procedure of the loan was very complicated because, they asked me to produce bank statements, cheques and we should pay the margin money also.  So I left that plan.

Then I thought to save a particular amount every month for a year from my income.  So planned to start a savings account.  But the problem with the saving account is there is a possibility to withdraw money at any time.  If so, our savings will not be enough for a year to buy a motorbike.

So I enquired in a bank that any other plan, which is suitable for my need.  One of the bank staff introduced me about the Recurring Deposit (RD).  This deposit can be start for a particular period (12 months to 120 months) with fixed monthly installment.  The interest of this deposit is same to the Fixed Deposit (FD).  No TDS(Tax Deducted at Source) is deducted for RD.  If we are unable to continue the deposit, we can withdraw the amount, but must pay a nominal penalty for that.  The main attraction of this deposit is Quarterly Interest Compounding (monthly interest is calculated on monthly balance and added to balance in every 3 months).  So I started a RD for a year with a monthly installment of Rs. 5000 and the interest rate is 7.5 % per annum. 

The Table shows the comparison of Savings Bank and Recurring Deposit
for same installment amount

Successfully I completed a year and I withdrew Rs. 62480/- with interest.  Really it was apart my expectation.  Now I have a new motorbike.  Next I am going to start new RD for 3 years to buy a car.  If you have a goal for any purpose in your life, I am sure that the RD will support you.  Wish you all the best.