Parchayi.com – Personal Finance Simplified

In a previous post, I mentioned that I did not get oversubscribed shares for the India Fund Inc. However, that is officialy wrong. The shares got deposited today! Yipee. Some more free IFN for me.

Here is a comparison of rates of the highest APY online savings accounts:

Bank
APY

Emigrant Direct
5.15%

ING Direct
4.35%

HSBC Direct
5.05%

Amboy Direct
5.15%

Presidential
5.12% (upto $35000), 3.00% (above $35000)

4.60 – 5.13%

The India Fund Inc. withdrew money from my account for IFN shares assigned to me from rights. I did not get any oversubscribed shares as yet so I’m assuming I won’t get any. Overall, the rights offer wasn’t such a great deal as the fund premium dropped significantly. I sold some IFN shares to pay [...]

Continuing my story on attempting to merge two HSBC credit cards, I received a letter from HSBC asking me to fill out an account consolidation request which basically was information similar to a new credit card application. So it is not so very easy to merge cards, inspite of the fact that I manage them [...]

The India Fund Rights Offer Closed today. The offering price of the shares (95% of NAV at close on Friday) is $34.00, which would mean at a current price of around 38 represents a gain of 11%, far lower than I expected but still very decent for no effort. The Fund said shareholders subscribed to [...]

Shares from the India Fund Inc. (IFN) rights offer deposited in my Scottrade account today, one day before the close of the offer. Oversubscribed shares have not yet been deposited, so I don’t know if I will get any. I hope I do. As of last Friday, the premium on the fund was 15%. Stay [...]