Using My Money

Airlines in India across cities and towns

Posted by admin on November 11th, 2011

In Delhi, the top airlines are Jet, Kingfisher and Kingfisher Red respectively. Bangalore has Kingfisher Airlines as the lead airline followed by Jet and Kingfisher Red. Ahmadabad believes in Jet as the best airline followed by Spice Jet and IndiGo. Lucknow’s most popular airline is Jet Lite followed by IndiGo and Kingfisher.

Jaipur’s top airline is Kingfisher Red followed by Spice Jet and Jet. Indore’s leading airline is Jet, Indian airlines and Kingfisher. Kolkata’s most flown airline is Jet, followed by Indigo and Indian airlines

Jet airline is the leading airline in Mumbai followed by Spice Jet and Kingfisher Red. In Chennai as well, Jet Airlines is supreme followed by Kingfisher and Spice Jet. Jet airlines is top in Hyderabad, followed by Spice Jet and IndiGo.

The Best Airlines in India

Posted by admin on November 11th, 2011

What does an Indian traveler wants from an airline that she travels in- the choices can be anything from ‘on-time schedule’ to quality of food’ to ‘inflight entertainment’. Needless to say, value for money is the most important factor while travelling in an airline.

Once upon a time, air travel was a luxury in India. Not anymore, the amount of domestic passengers flying have increased from 1. 5 crore to 4.6 crore between the period of 2000 and 2010. Out of all the airlines, Jet Airways is rated the best airline in India in terms of many parameters which include ‘check-in process’ to ‘boarding’ and ‘meals’.

The second best airline in India is Kingfisher Airlines. The third best airline in India and the most popular low-cost airline in India, IndiGo is growing at the fastest rate and with the news of Kingfisher Red being shut down, IndiGo may just be the preferred airline of a growing number of air passengers.

The reason why air travel in India is becoming is due to increase in fares charged by low-cost carriers, increase in tourist traffic and cargo. It is estimated that 42 percent of the domestic demand for air travel in India will come from smaller towns by 2015. The deals in the form of frequent flying options are getting more popular and commonplace with time.

A study by the International Civil Aviation Organisation suggests that $100 spent on the airline industry generates $350 for the economy overall and 100 additional jobs in air transport creates 650 new jobs across the economy.

With more airports and greater connectivity to metros, smaller towns are expanding their business avenues, fuelling growth. Flying from smaller towns can be quite appealing because you can report to the check-in counter a good 40 minutes in advance.

The best airlines in India for landing/take off

Jet Airlines

Kingfisher

Kingfisher Red

The best airlines in India for Airport Services

Jet

Kingfisher

Kingfisher Red

The top three airlines in India for arrival services

Jet

Kingfisher

Soice Jet

The best airlines in India for cabin crew

Jet

Kingfisher

Kingfisher Red

The best airlines in India for check-in process

Jet

Kingfisher

IndiGo

The top three airlines in India for flight boarding

Jet

Jet Lite

Kingfisher

The best airlines in India for inflight meals/catering

Jet

Jet Lite

Kingfisher

The best airlines for incabin experience

Jet

Kingfisher

Indigo

Kingfisher Airlines News, Customer Service

Posted by admin on November 11th, 2011

Cash-strapped Kingfisher Airlines, which has been cancelling flights across several routes, is facing more trouble because some companies that lent aircraft to Kingfisher are now taking them back. Also 130 staff pilots have quit adding to the woes of the airline company.

Kingfisher Airlines is also facing problems because it is not able to raise funds from either the debt or equity markets and is running out of cash to spend for fuel supplies. The Economic Times reported that Kingfisher has continued to cancel flights for the third day.

Leasing firms like International Lease Finance Corp, Investec Global Aircraft Leasing and GE Commercial Aviation, which have arranged for leases for the carrier with aircraft manufacturer Airbus, are in talks with Kingfisher over taking back the planes, the Economic Times said.

While the country’s No. 2 carrier claimed it was cancelling 50 flights every day till November 19, it operated only 269 flights of its allocated winter schedule of 418 daily flights on Thursday, The Times of India said.

Kingfisher has said that since it has not been able to show profits since it got listed and undergone debt restructuring, it would take leave of the low-cost version and focus on the premium segment.

“No shutdown, only ensuring loss minimization by a flight rationalisation and enhanced revenue through reconfiguration of aircraft,” chairman Vijay Mallya addressed to the media.

The customer service of Kingfisher Airlines however still reigns supreme even though it has slipped up to the number 2 spot. The airline is known for its comfort factor and attention to detail. Competition from IndiGo and other low-cost airline carriers are making Kingfisher feel the heat, so much that Kingfisher Red is slated for a closure soon.

Rita Sardesai has good things to say about Kingfisher’s customer service. “Once I had exceed the baggage limit by 9kg but the staff did not charge me for it. Low cost airlines are quite strict about baggage limits but Kingfisher Red was quite accommodating. It is actually my favorite airline and it is hard to say go”

With its loss based controversy ahead, Kingfisher is still on top of customer service parameters in places like Delhi, Bangalore, Chennai and Indore. Three things that make people warm up to Kingfisher Airlines customer service is the superb inflight service, polite staff and a good ambience in the craft.” People still do not mind spending more for the royal treatment provided. Kingfisher despite its problem is still the ‘King of Good Times’.

Kingfisher scores 91.5 percent on on-time performance, has coverage in 63 domestic centers in India. Flight cancelations account for 1.4 percent. The market share of Kingfisher Airlines is 18.8 percent.

Jet Airways-Best Airline in India

Posted by admin on November 11th, 2011

Jet Airways is being called the best airline for all the main four metros in India, according to a recent survey. Jet has usurped Kingfisher Airlines which is hitting new lows, in parameters like airport services, cabin crew and many other services.

It is not that Kingfisher is facing customer disrepute, the customer service of Kingfisher is also good but nowhere as good as Jet. The latter has lived up to its tagline ‘The Joy of Flying’

Jet Airways along with its subsidiaries Jet Konnect and JetLite which work in sectors where Jet is not able to operate their full service carriers, have won a lot of acclaim wherever they run or rather fly their business. Its international operations have also garnered a lot of praises.

Jet Airlines however has to face stiff competition on the home turf from Indigo Airlines. Though Jet has been doing reasonably well internationally, the overall customer service level of IndiGo is the best in India along with GoAir.

But Jet still has high standards and professionalism”, said Kapil Kaul, CEO South Asia, Centre for Asia Pacific Aviation. One of the nags of Jet Airlines is the rapidly declining quality of food offered.

Jet Airways scores 92 percent on on-time performance. It has 18.2 percent of market share and has 46 numbers of domestic centers. Flight cancellation with Jet Airways is just 0.6 percent.

How to close a car loan

Posted by admin on November 11th, 2011

To know how to close a car loan, the procedure is similar to how to close a home loan. But there are some additional things to do. The bank has to send out some documents to the RTO and the insurance company.

Obtaining a no-dues certificate addressed to the RTO is vital. You have to also fill a form for removal of the financer’s endorsement and send it to the RTO. This endorsement is done to prevent the customer from selling the car.

The bank would also need to prepare a similar letter addressing the insurance company. After obtaining these three letters, you need to submit them to the individual authorities. Bear in mind that you need to take your RC and insurance papers while submitting the removal of endorsement form with the RTO.

How to close a home loan

Posted by admin on November 11th, 2011

To close a home loan, ask for an acknowledgement of the check through which you pay the last EMI of your home loan. The bank will give your documents back once the check gets cleared. If your home loan is from a cooperative bank and you are paying your last EMI in cash, the documents are given to your right away

How to close a credit card account

Posted by admin on November 11th, 2011

Let us find out how to close a credit card account, there are two scenarios here

Undisputed credit card case

• Pay all dues, together with all transactions not yet charged to the account, well in time. You can simply call up the credit card call center or send a letter saying you want to cancel the card. Destroy the card by cutting it and sending it to the bank along with the letter.

• The bank typically reconfirms the cancellation once it gets the intimation from the customer. In many cases, it is better to send a letter as it’s written proof that the cancellation is being sought Getting an acknowledgement is essential.

• Never put an undestroyed card in any drop box of the bank. You can hand it over to bank officials if they give you an instant acknowledgement. Retain a copy of all correspondences with the bank and with any other official of the bank.

Disputed credit card case

• In cases where the billing has not been cleared or there are other disputes, it’s best to first settle the issue with the bank.

• If you have a savings account with the same bank and haven’t settled the issue, the banks have a right to adjust the credit card billing through your savings account balance. The bank will give you a notice before doing so.

• Always inform the bank before destroying the card. In case of unwanted delivery of card, inform the bank immediately in writing and destroy the card according to instructions received from the bank.

How to close your Demat Account

Posted by admin on November 11th, 2011

Shares are stored in the dematerialized or electronic form in two depositories – National Securities Depository Limited and Central Depository Services Limited. Depositories obtain shares through depository participants (DP) and not directly from investors.

DPs are registered with the Securities Exchange Board of India (SEBI) and acts as agents for depositories. To do share trading, you need two accounts-– a trading account with a share broker and a demat account with a DP. You can have these two accounts with different names but it is advisable to keep trading and depository accounts with the same entity to stay away from settlement issues. You can change your DP if your present one is not timely with settlement of shares you buy or sell. If that is the case, you will have to open a new depository account and then close the old one.

How to close a Depository Account

Here is the procedure in which you can close a demat account

1. Submit Application: A demat account can be closed only if there are no shares in it. Submit the Application in the prescribed format, annexure Q, to your DP. Simply download the application from the DP website, for instance www.nsdl.co.in. Submit all new delivery instruction slips, which are issued by DPs and are used by investors for share transfer, with the demand form. All the stocks would be transferred to your new depository account, which are stated in the depository application form.

2. Negative Cash Balance: If your account has negative cash balance, it is necessary to settle it before requesting for closure. Negative cash balances happen in relation to charges connected to the account, like the annual maintenance charge. If you request closure without settling the negative balance, the DP can either refuse your request or approve it with a waiver of charges.

3. Dead ISIN: The demat account cannot be closed if it contains ISIN. The International Securities Identification Number (ISIN) is an ID number that is exclusive for all the shares of a company. There is no issue with transferring live ISINs, which are in control of companies whose shares are being traded on stock exchanges, but there is no point in dead ISINs, which are companies whose shares are no longer being traded. In this case, apply for dematerialization of the dead ISINs (conversion of electronic holdings into share certificates, the opposite of dematerialization) to your DP before asking for account closure request. The DP passes on the request to the concerned depository, which then intimates the registrar, which finally issues the share certificates to you. If you do not get share certificates from the registrar and are unable to get your account closed due to pending remat requests, you should get it frozen.

4. How to Freeze an Account: Open a new account and request your present DP to move the ISINs from your old account to it. All active ISINs will get shifted, leaving only dead ISINs in the old account. Apply for freezing, or suspension of this account in the prescribed format, annexure P. To revive frozen accounts, give an application to the old DP in annexure P.

IndiGo Airlines Review-Best Low Cost Airlines in India

Posted by admin on November 10th, 2011

IndiGo airlines have been voted the best low-cost airlines in India. Established in 2006, Indigo airlines have taken off in a really big manner, giving even the established airlines in the fray, a run for their money.It may be the newest kid on the block, but IndiGo has taken the Indian airline industry by storm.

Established in 2006, it has taken off in a big way, becoming a big name in the low-cost carrier market in no time.One of the USPs of IndiGo airlines is the in-flight snacks which people swear by. Also the airline staff of IndiGo is known to be quite polite and friendly. Small towns in India are quite satisfied with the services because IndiGo has been able to connect places like Lucknow, Hyderabad, Kolkata and Ahmedabad.
In fact, most people in India have switched to air travel because of the cheap air travel provided by the air-carrier at low prices. There is good connectivity offered by IndiGo from locations through Delhi or Kolkata.

A satisfied customer, Amar Tripathi says, “In case, you are buying ticket 20 days in advance, yu can get it cheaper than most airlines.”
IndiGo is also termed the most punctual airline with 92.4 percent success rate. Sushma Dwivedi a freelance consultant says, “They are always on-time and I may go ahead and say that they are before time too as well, which is quite commendable.”

The turn-around time for an IndiGo flight is less than 30 minutes, a hard feat to match. At this point of time, there are no complimentary meals offered by IndiGo but the service factor is simply the best. Last but not the least, IndiGo Airlines has been the only profitable Indian airlines in 2011.

IndiGo registers 92.4 percent on on-time performance and has only 0.1 percent cancellation. It covers 26 number of domestic ceneters. The marketsahre of IndiGo is 18.7 percent.

Education loans in India, Cost, Interest Rates

Posted by admin on November 9th, 2011

You can get education loans in India up to Rs. 10 lakh for studies in India and loans up to Rs. 20 loans for studies abroad. Some banks give Rs. 8 lakh and Rs. 15 lakh respectively. You may need to give collateral of Rs. 4 lakh-Rs. 7.5 lakh

Educational loans are mostly given to those courses that have an employment potential enough for repayment of loans.

How to get the best education loan

1. Interest- There is a simple interest charged on the loan from the day the loan starts to the end of the moratorium period. When the repayment period of the principal is initiated, there is compound interest charged on the reducing balance. Education loans do not have prepayment penalty. Most banks provide a concession of 0.5-1 per cent on loans for girls.Normally, 1 per cent of the outstanding loan amount is charged to the borrower if he transfers the loan from one bank to another.

2. Collateral- Before going for the education loan, check out the collateral requirements. Some banks only give loan against security. So find out if the bank has an option of not paying even the simple interest in the moratorium period. Compared to flexible rate, it is better to go for fixed rte loan because the repayment tenure is less. Do not for go banks that offer fixed loan rates with a reset clause.

3. Tax deduction in education loans- Deduction is available on the interest of the loan take n for higher education under Section 80Ed. Interest has to be paid out of the taxabl income of the assessee. This means there is no deducation of the person has agricultural income, which is not taxable. . To get a tax deduction on education loan, the loan should be taken for self, spouse or children and from a financial institution or an approved charitable institution. There is no limit for the deduction. Deduction is offered for eight years. So, if you want maximum tax benefit from education loans, it is better not to hurry settling the loan and increase the repayment to the maximum time.

Banks	Education type	Loan amount	Interest rate %
Axis Bank	Study in India Study abroad	up to Rs 7.5 lakh up to Rs 15 lakh	15.75 15.75
Bank Of Baroda	Study in India and abroad²	Rs 4 lakh-20 lakh	12.50
Bank Of India	Study in India Study abroad	Rs 4 lakh-10 lakh Rs 4 lakh-20 lakh	10.50-11.25 11.25-12.00
Canara Bank	Study in India Study abroad	Rs 4 lakh-10 lakh Rs 4 lakh-20 lakh	10.25-12.50 10.25-12.50
Central Bank Of India	Study in India Study in abroad, including CIMA³ London, CPA⁴ US	Rs 10 lakh Rs 20 lakh	10.50 10.50
IDBI Bank	Study in India-graduation/post graduation/professional courses/evening courses Study abroad	Rs 4 lakh-10 lakh Rs 4 lakh-20 lakh	13.50 13.50
Punjab National Bank	Study in India, including evening courses Study abroad, including evening courses	Rs 4 lakh-10 lakh Rs 4 lakh-20 lakh	12.25 12.25
SBI	Study in India Study abroad	Rs 4 lakh-10 lakh Rs 4 lakh-20 lakh	12.25-13.25 12.25-13.25
Union Bank Of India	Study in India Study abroad	Rs 4 lakh-10 lakh Rs 4 lakh-20 lakh	12.00-12.50 12.00-12.50
Vijaya Bank	Study in India, including courses for air hostess, pilot training programme Study abroad, including pilot training programme	Rs 4 lakh-10 lakh Rs 4 lakh-20 lakh	11.72 1

Repayment begins one years after the course gets over or six months after the person gets a job, whichever is earlier. Some banks offer concession of of 0.5-1.0% on interest rate for girl students and another 1% if interest is serviced during the loan holiday period..