A Welcome Note to the Next Level of Independence

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A letter to my nephew Gautham….

And all of my little Friends….

15 August 2014 053234 GMT+0530

Mumbai

15 August 2014

My beloved Achu,

Your father is poor. Hey you got so angry hearing this. Please don’t let this stop you from reading further.

Now myself, your uncle is much more poor. There is a good reason for telling you so.

One thing that will definitely bring your anger down is a book with the title “Rich Dad Poor Dad” written by the American author Robert T Kiyosaki. I have asked your father to get a copy of the book for you with a condition that you will be paying the price of the same within a year. Don’t worry. Myself and your father will help you to earn that money.

When ever I hear something from you, I remember a lot about my childhood. At your age I too was so fascinated by the block-bluster formula E=MC2. To me it sounded good because it held the link between two worlds, one of the matter and the other of the energy. It always sounded like blasting with the limitless energy. I neither comprehended the validity of the formula nor did it give any practical blast in my very life. Of course I always adore the man behind it as you do. Einstein continues to be my most favorite hero even now. It always felt that he always stand so tall among us for what we human beings take special pride in doing. Imagination….

As you, when I was in school, worked with one particular formula in and out numerous times. I=PNR…. As for you, it brought me some good marks in the exams as I had the skill in applying this with various combinations. As I left the studies the formula went into my faint remembrance.

Much later I got into what we all call; the struggle of life. With all this struggles what I found, it is the state of being poor rather poorer which is the very cause of struggle. I had been so moved by it that I started to think about the other side, being rich. You see, I am in no way a rich man, but I am in the pursuit of richness.

path-to-financial-freedom2During this journey, the good old forgotten formula I=PNR took some vibrant form in my mind. Somehow I started feeling that the formula I=PNR have a capacity to blast like E=MC2 creating ripples of richness.

I wondered if the little ones like you could have a nice feeling about knowledge of, how learning we receive enriches our life, how the technology we learn can be used beneficial to us, how being rich gives us a different level of freedom and so on…. I feel the Imagination of you all can be nothing less than Einstein’s!

As I wished you could make your first steps in learning some of these valuable ways of life, I have asked your father to open a Savings Account in your name with the State Bank of India. You should have an amount of Rs.7840 in that account. You should use the entire pocket money for this. I have asked your father to give you the remaining amount.

8 August 2014 150451 GMT+0530

With this money we are now going to work with an interesting combination of I=PNR which will pay back Rs.2/- (<– Click Here) everyday to your Savings Account. Let us create 7 SBI JIT UNIT FD (7 X Rs.1120))one each on the seven week days (Sunday, Monday,…. Ask your father what is all about the interesting factor in this combination. He being a banker will be able to explain it more clearly to you. By the end of the year your Rs.7840/- will produce Rs.730 (Rs.2 X 365), ie. working daily creating Rs.2. From this you should pay back the price of the book to your father! By this time you would have read the the book few times!! This will be your first step in the game to the next level of freedom, Financial Freedom!!!

At this point you should notice a factor. You should dream as much as you can with the amount remaining from Rs.730. I recommend you to buy a good inexpensive book with YOUR money. But let a good part of that money be with the money. This is an important part of getting rich. A good part of the MONEY you earn should COMPOUND TO MONEY you have.

You remember I told you I=PNR blasts with ripples of richness. All rich people around the world fundamentally use this formula to build their riches, but with their own modified versions. As you grow up and explore the way to richness you too will learn them and will come across your own versions.

15 August 2014 061313 GMT+0530

Gauri, please don’t feel sad. Your bright smiling face was as much there in my mind when I was writing this. You too should tell Achan that you too want to try and learn these factors. But don’t ask for another copy of the same book my dear 🙂  so that you will be richer than your brother by the next August 15th . All of the Rs.730 will be yours 🙂

I will feel extremely happy if you could “Leave a reply” to me stating some of the learning you got this way like: the interesting nature of PNR, functioning of a bank account etc.

You have a puzzle to solve in this activity which makes I=PNR to I>PNR, what I call the jitfactor. Your father will help to solve this.

Let freedom fill inside you and outside you….

Affectionately,

Your uncle….

jit

jitfactor@gmail.com

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The good – Better – BEST Bank Fixed Deposit

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 SBI JIT FIXED DEPOSIT – The good – Better – BEST

(An extension of the factor SBI JIT UNIT FD (10percent) <– Click Here…. )

8 August 2014 104136 GMT+0530

IMPORTANT NOTICE (26 December 2014):- SBI has been continuously revising their interest rates for Domestic Term Deposits during the second half of 2014. On Mon 2 Dec 2014 came the latest revision. They now pay an interest of 5% pa. for a term of 1 week. THE LATEST INTEREST EARNED FROM “SBI JIT UNIT FD” IS 6.7 % PA.

SBI JIT FIXED DEPOSIT was the Topper in the market (10.3% pa.) till 17th July 2014. On 18th July 2014 it moved to position 4 (9.7% pa.) . But it is still the BEST!….

8 August 2014 063930 GMT+0530Courtesy: moneycontrol.com <– Click Here

No…….! Today, before publishing this post, when I reviewed the bank rates….

“SBI JIT FIXED DEPOSIT” IS BACK ON THE TOP!!!

8 August 2014 064901 GMT+0530Courtesy: moneycontrol.com <– Click Here

So on all counts, “SBI JIT FIXED DEPOSIT“ is the BEST  because:-

  • SBI JIT FIXED DEPOSIT is SAFE, being a tweaked State Bank of India Fixed Deposit.
  • It gives better return on Fixed Deposit than any Indian Bank.
  • Virtually it has all the flexibility of your money in Savings Account with a minimum return of 9.375% pa.
  • As the principal increases the return increases.

8 August 2014 102712 GMT+0530

This factor is a compounding nature of SBI JIT UNIT FD. Funds generated from each unit into Savings Account is used to create additional SBI JIT UNIT FD. The following tables show how it works.

Fig1_1

Fig2_7%

Fig2_7.5%

 So SBI JIT FIXED DEPOSIT is back on the Top!

8 August 2014 120140 GMT+0530

FOR ALL THIS MONEY WORKZ ALL YOU NEED IS:

A ZERO BALANCE Savings Account with State Bank of India with:

  1. Internet banking
  2. Mobile number registered for receiving high security password and
  3. An internet connection preferably with good speed.
  4. Know how  for creating SBI JIT UNIT FDs <– Click here

AND OF COURSE MONEY IN YOUR ACCOUNT

SBI FIXED DEPOSIT RATES

SBI Online Savings Bank Account Application

Note1: If SBI revises it’s interest rate the GAME will crumble and we need to get a new Magical Value for P. Return to my posts / Facebook community to know the same.

NOTE2: If SBI revise their policy/system, it will make the GAME a far lesser game. Till then….

8 August 2014 105542 GMT+0530

Don’t let your money sleep in your Savings Account. GAME with it.

 

jit

jitfactor@gmail.com

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Earn 10% from your Savings Account! 10% !!!

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Your Savings Account can simply give 10% return!

31 May 2014 124804 GMT+0530

Don’t compromise for the mere 4%

Yes! I am talking about you Savings Account not the Fixed Deposits!

One Sunday morning in this January of 2014, when I was going through an old edition of Economic Times, an advertisement of a nationalised bank, reignited the Saturday’s train of thoughts. A spark came to my mind, which I felt could solve yesterday’s riddle. I asked my wife, who was busy in the kitchen, to share her calculator and pen for a while.

(Note: I published this post on 31st May 2014. Then SBI used to pay interest of 7.5% for the term of 1 week. Since 18th July 2014 they pay 7% interest for the same term. The post needs to read further accordingly.)

There is an agreement with me and my wife, she be the care taker of our savings and myself of the investments. It always pinched me that the chunk of money I kept in my Savings Account ready for investment, earned just 4%, where as her savings in Fixed Deposits earned nearly 10% consistently. Now in the Saturday evening when I was going through my SBI’s internet banking login, their 7.5% interest rate on the deposit for a term of 1 week and the feature off e-Fixed Deposit put a smile on my face. When tested it, found to work perfectly as I expected. It auto renews in a week, paying back the interest to my Savings Account. I myself can make them and break them within few seconds. Now my money in wait time can return 7.5%, but much below the iconic 10% return.

Back to the Sunday morning. In few moments I felt like raring to go. The “calci” and pen were in front of me! I am very thankful to my wife. She is rarely offensive to my cranky ways. I scribbled some quick combinations of I = PNR on the Economic Times, to reach a magical figure for P as I have little control over the other factors, I=Max Return, N=7 Days and R=7.5%.

==========================================================

IMPORTANT NOTICE (26 December 2014):-

SBI has been continuously revising their interest rates for Domestic Term Deposits during the second half of 2014. On Mon 2 Dec 2014 came the latest revision. They now pay an interest of 5% pa. for a term of 1 week.

As R (Rate of Interest) has changed, the magical value which the P (Principal) hold is Rs.1565 now. Please read and apply the factor accordingly. BREAK ALL YOU “SBI JIT UNIT FD” AND REMAKE THEM WITH THE NEW P (‘Amount’ in you e-Fixed Deposit form). THE LATEST INTEREST EARNED FROM “SBI JIT UNIT FD” IS 6.7 % PA.

IMPORTANT NOTICE (19 July 2014):- The above notice overrides this notice.

From yesterday (Fri 18 July 2014) SBI revised their interest rates. They now pay an interest of 7% pa. for a term of 1 week. Akash I am so thankful for your comment in my blog. I simply loved the timing! I can’t expect anything more from a reader.

As R (Rate of Interest) has changed, the magical value which the P (Principal) hold is Rs.1120 now. Please read and apply the factor accordingly. BREAK ALL YOU “SBI JIT UNIT FD” AND REMAKE THEM WITH THE NEW P (‘Amount’ in you e-Fixed Deposit form).

Dear takers of “SBI JIT UNIT FD”, though the interest rate has declined, the return from the factor has not declined!…. You get Rs 105 annually from each Rs.1120 you deposit. This is way more than 9% and less than 10% pa. As this is my pet blog – the first blog, with your permission, I am taking the privilege to keep the other contents of the post unchanged.

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Now the magical value of P which my calculations revealed was Rs.1050. Straight away I tested it by trying to create few e-Fixed Deposit with the SBI account, with some variations of P and found the perfect value for P is Rs.1050 as expected. It gives an interest return of Rs.2 to my Savings Account in 7 days. Now 1 year has 52 X 7 days, I mean 52 weeks. That means A return of Rs.104 in 1 year from Rs.1050! Now for those who are dogmatic about the Re.1 which makes the return just short of Rs.105, the iconic return of 10%. Consider the interest on the Rs.52, that I got into my Savings Account in the first 6 months, at 4% per annum. I get additional Rs.1.08 for the next 6 months. So I AM JUICING RS.105 FROM EACH RS.1050 IN MY SAVINGS ACCOUNT. A CLEAR RETURN OF 10%! I called the deposit a “SBI JIT UNIT FD”. The brightness on my wife’s face, who is a Cost Account by profession, said that I had done a wonderful job.

Each Unit of Rs.1050 in my account is going to deliver me 10% with the all the flexibility of Savings Account as I can make the UNITS in seconds and later break them in seconds. Now to the advocates of Sweep Account, I challenge, “SBI JIT UNIT FD” beats the Sweep Account in terms of return and function. I will post a comparison of both @ “jitfactor” in a while.

HOW EACH “SBI JIT UNIT FD” WORKS

image

 

MAKING “SBI JIT UNIT FDs” Follows…..

 

image

 

30 December 2014 164151 GMT+0530

 

 

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BREAKING “SBI JIT UNIT FD” Follows…..

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1.Select the UNIT with a farthest maturity date.

2.Click Proceed.

3.Enter a Remark and Confirm.

4.Enter High Security Password received on your mobile and Confirm.

The money is back on your Savings Account waiting for your command.

Click on the link “Return to Pre Closure Page”.

Repeat steps 1 to 4 to break desired number of units.


 

FOR ALL THIS MONEY WORKZ ALL YOU NEED IS::

A ZERO BALANCE Savings Account with State Bank of India with:

  1. Internet banking
  2. Mobile number registered for receiving high security password and
  3. An internet connection preferably with good speed.

AND OF COURSE MONEY IN YOUR ACCOUNT

SBI FIXED DEPOSIT RATES

SBI Online Savings Bank Account Application

Note1: If SBI revises it’s interest rate the GAME will crumble and we need to get a new Magical Value for P. Return to my posts / Facebook community to know the same.

NOTE2: If SBI revise their policy/system, it will make the GAME a far lesser game. Till then….

Every morning I wake hearing the rattle of 10 messages, each bringing 2 Rs. into my Account. I have 70 evenly placed “SBI JIT UNIT FD” in my Account!

8 August 2014 150451 GMT+0530

Don’t let your money sleep in your Savings Account. GAME with it.

Follow or return to the jitfactor in a while to:-  Discover the “SBI JIT FIXED DEPOSIT“, which beat the best Fixed Deposit in the market in terms of returns!

jit

jitfactor@gmail.com

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