The name of the scheme is Post Office Bal Jeevan Bima Scheme. This is an insurance scheme which is run especially for children. This scheme is run in the post office under Postal Life Insurance. In this scheme, children get a sum assured amount of up to Rs 3 lakh on maturity along with life insurance cover. Along with this, bonus is also available like an endowment policy. Know important things related to the scheme here.

Different sum assured for PLI and RPLI

In the child life insurance scheme, different sum assured is given under Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI). Under PLI, sum assured of up to Rs 3 lakh is available, whereas if you have taken a policy under RPLI, then the policyholder will get sum assured of up to Rs 1 lakh. The premium of both is also different. To make the policy attractive, bonus has been included in it like an endowment policy. If you have taken this policy under Rural Postal Life Insurance, then on a sum assured of Rs 1000, you are given a bonus of Rs 48 every year. On taking it under Postal Life Insurance, a bonus of Rs 52 is given every year.

Maximum two children can avail the benefit

Post Office Bal Jeevan Bima can be purchased by the parents of the children. The benefit of this scheme can be given to a maximum of two children. It can be purchased for children aged between 5 years to 20 years. Parents who want to buy this insurance plan for their children should not be more than 45 years of age.

Paid up policy after 5 years

After paying regular premiums for 5 years, this policy becomes a paid-up policy. After taking the scheme, it is the responsibility of the parents to pay the premium, but if they die before the maturity of the policy, the premium of the child is waived off. If the child dies, the sum assured is paid to the nominee, along with a bonus.

No loan facility

In this scheme, you can invest on monthly, quarterly, half-yearly and yearly basis. Like all other policies, loan facility is not available on this scheme. There is no need for medical examination while taking this policy for children. However, it is important for the child to remain healthy. One thing to keep in mind is that there is no provision for surrendering the policy in this scheme.

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Through this scheme, parents can save a good amount of money for their children, which they can use in future to fulfill their education, marriage and other important tasks. Amrit Bal is a non-linked life insurance policy. This scheme will give your child guaranteed returns along with insurance.

You can take the policy for a child from 30 days to 13 years

You can take this policy for a child from 30 days to 13 years. The minimum age for its maturity should be 18 years and maximum 25 years. The short term premium payment term for this policy is 5, 6 or 7 years. The maximum premium payment term is 10 years. You can also choose the single premium payment option. Under this, you will have to take insurance of at least Rs 2 lakh. If you want, you can take maturity settlement like a money back plan in the 5th, 10th or 15th year.

This is how you will get returns

In this plan, you will get a guaranteed return of Rs 80 on every Rs 1000 sum insured. This return of Rs 80 will be added to the sum insured of the insurance policy. For example, if you have taken a sum insured of Rs 1 lakh in the name of your child, then LIC will add Rs 8000 to the sum insured. This guaranteed return will be added every year at the end of the policy year. It will be added to your policy for the period for which you have taken the policy.

How can you buy the policy

If you want to buy this policy for your child, both online and offline options are available. The minimum sum assured is Rs 2,00,000, while there is no limit for the maximum. You will get the option of monthly, quarterly, half-yearly and yearly to pay the premium of the policy, you can choose any option according to your convenience. In this scheme, you also get the facility to choose the waiver benefit rider as per two options under single premium and limited premium.

What are the benefits on buying

Guaranteed bonus and sum assured will be available on maturity. ‘Sum Assured on Death’ option is also available for policy buyers. Also, if you pay a little extra premium, you can take the premium return rider in exchange for expenses. Loan facility is also provided in this scheme.

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These schemes are for all categories of people, which provide many benefits ranging from tax benefits to guaranteed returns. More and more people like to invest in these savings schemes. It has many benefits, let us know the benefits of Small Saving Scheme.

1. Guaranteed Returns

Small savings schemes include Public Provident Fund i.e. PPF, Senior Citizen Savings Scheme, Sukanya Samriddhi Yojana etc. All these small saving schemes give guaranteed returns. In this you know that you are going to get this much amount in this time.

2. Financial Independence and Stability

If you have invested in small savings schemes, then it has so much potential that it gives financial independence and stability to yourself and your family. Small savings schemes serve as the foundation of secure, regular income and a strong financial strategy.

3. Income tax exemption

Many small savings schemes provide the benefit of tax exemption. Under Section 80C of Income Tax, you can save up to Rs 1.5 lakh. Schemes like PPF, Senior Citizen Saving Scheme, Time Deposit and FD provide the benefit of tax exemption.

4. Minimum investment

Investors will have to make minimum investment. Depending on the small savings schemes, the amount can range from ₹250 to ₹1,000. You can also invest small amounts in these schemes.

5. Income assurance

In today’s time, people are investing in risky places like share market and mutual funds. Whereas small saving schemes provide assurance of income. With a fixed interest, you know in advance how much amount you will get on maturity. Meaning you will be guaranteed to get income in the future.

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Although there are many investment options available in the market, but even today people prefer to invest in small savings schemes of post office. Today we are telling you about a scheme by investing in which you can get guaranteed returns every month after retirement. The name of this scheme is Post Office Monthly Income Scheme. After retirement, if you want to get a fixed amount every month like pension, then this scheme can be a better option for you. We are telling you about the details of the monthly income scheme.

Know the details of Monthly Income Scheme-

Under the Post Office Monthly Income Scheme, you can get huge returns by investing lump sum. Under this scheme you can open a single or joint account. Under joint account, two or three people can open an account together. Any person above 10 years of age can open an MIS account. Under this scheme you can invest from Rs 1,000 to Rs 15 lakh. The maximum limit of investment in a single account is Rs 9 lakh.

This much interest rate is available under the scheme-

The government decides the interest rates of small savings schemes from time to time. These rates are applicable on every quarterly basis. The third quarter of the financial year 2023-24 is getting the benefit of interest at the rate of 7.40 percent. For example, if you invest Rs 15 lakh in this scheme, you will get Rs 9,250 as interest every month. You can withdraw this interest on every month, three months, six months or yearly basis. In such a situation, you can get a total of Rs 5,55,000 as interest in five years.

Account can be closed before maturity

It is worth noting that under the Post Office Monthly Income Scheme, you can invest your money for a total of 5 years. Under this scheme you can extend your investment for 5-5 years. At the same time, if you want to close your account before 5 years, then you can do so. If you close your MIS account between one and three years, 2 percent of your total amount will be deducted. Whereas between 3 to 5 years, 1 percent of the total amount will be deducted.

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In this episode, we are going to tell you about another wonderful scheme of LIC, which is being run especially for women. The name of this scheme is LIC Aadhaar Shila Plan. By investing in this scheme you can get strong returns in the long run.

What is LIC Aadhar Shila Scheme?

LIC Aadhar Shila Scheme is a non-linked, individual life insurance scheme. This scheme has been specially designed for women. On maturity of this policy the investor gets a fixed amount. Whereas if the policyholder dies before the completion of the policy, then in such a situation the family gets financial assistance. Only physically healthy people (healthy lives without undergoing any medical examination) can invest under this scheme.

Insurance plan up to what amount

Under the Aadhar shila policy, the basic sum assured under LIC Aadhar shila plan is minimum Rs 75,000 and maximum Rs 3,00,000. The maximum age of maturity is 70 years i.e. the age of the policyholder at the time of maturity should not be more than 70 years. On maturity, the policyholder gets a lump sum amount. If you buy this plan, you are given the option of monthly, quarterly, half yearly and yearly payment of premium.

Who can invest

This policy has been prepared for those women who have Aadhaar Card issued by UIDAI. To invest in this, the age of the woman should be between 8 to 55 years. Apart from this, only physically healthy people (healthy lives without undergoing any medical examination) can invest under the scheme.

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If you are also a woman and are looking for the right investment option for you, then we have come up with a great plan for you. In this post office scheme, women can get bumper returns by investing up to Rs 2 lakh. The name of the saving scheme we are talking about is Mahila Samman Certificate. In this scheme, women can earn good returns by making small investments.

Women get guaranteed returns

Mahila Samman Certificate Post Office is also operating. By investing in Post Office Mahila Samman Savings Certificate Scheme, women will not face any kind of market risk. In this you will get guaranteed return.

Who can open an account?

Under this scheme, women can deposit a maximum of Rs 2 lakh for 2 years. Interest will be given at a fixed rate of 7.5 percent on investment in two years. With this, women will be able to save in future and become self-reliant. The government is also giving tax exemption on the amount deposited in this scheme. All women will get tax relief by investing in this scheme. Under the scheme, girls aged 10 years or more can also open their accounts here.

Will get this much interest in 2 years

Under Mahila Samman Saving Certificate Scheme, the post office will give interest at the rate of 7.5 percent for a period of two years. For example, if you invest Rs 2 lakh once, you will get a profit of Rs 15,000 in the first year and Rs 16,125 in the second year. That means you will get a benefit of Rs 31,125 under the scheme on an investment of Rs 2 lakh in two years.

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LIC’s ‘Dhan Vriddhi’ policy has been launched on 23 June 2023. The company has currently fixed 30 September 2023 as the last date for purchasing this policy. Here you will get every detail of the policy…

Features of LIC Dhan Vridhi Plan

In this policy of LIC, people will get the benefit of a guaranteed return along with insurance cover. While the family members of the policy holders will get financial assistance on the occasion of his death, a guaranteed return will also be available on maturity of the policy.

Customers of this policy will get two options, in which 1.25 times return can be obtained in the first situation and 10 times in the second situation, in case of death of the person. However, the premium will be different for both the situations.

The policy will mature in this number of days

The maturity period in LIC ‘Dhan Vriddhi’ policy will be 10, 15 and 18 years. To become a customer of this policy, your minimum age should be 90 days, that means the policy can be bought in the name of children also.

The minimum sum assured will be

The minimum sum assured for LIC Dhan Vridhi policy will be Rs 1.25 lakh. After this it can be increased with multiples of Rs.5000.

Death Benefit

After the commencement of the risk cover in LIC Dhan Vriddhi, the policy holder will get the ‘Sum Assured’ and the ‘Guaranteed Return’ earned thereon in case of death during the policy term. While on the maturity of the policy, he will get the sum assured and the guaranteed return accumulated till then.

Guaranteed returns will be added to the policy every year at the end of the policy term. In the first option, it will be Rs 60 to 75 on a sum assured of Rs 1,000. Whereas in the second option it will be between 25 to 40 rupees.

Riders will be able to take with the increase in money

With LIC Dhan Vridhi policy, customers can also take Accidental Death and Disability Benefit riders like other term policies. Along with this, loan facility will also be available on this policy. LIC Dhan Vriddhi policy can be bought through an insurance agent and online.

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This has been said by Deepak Mohanty, Chairman of Pension Fund Regulatory and Development Authority (PFRDA). This pension plan with guaranteed returns can come as an option under the National Pension Scheme (NPS). This pension plan will cater to the needs of those who are looking for guaranteed returns on their investments.

Target of 1.3 crore enrollment in Atal Pension Scheme this year

PFRDA chairman Deepak Mohanty said, “There is a lot of work going on…we have to strike a balance between risk and return…if someone gives trust, it has a value. In Atal Pension Scheme, the government gives assurance and the customer pays the price. He said that in case of fixed returns, more capital should be provided to the pension fund as it is taking more risk. He has also said that there are about 5.3 crore subscribers in the Atal Pension Yojana (APY). This year the target of enrollment in the scheme is 1.3 crore, which was 1.2 crore last year.

Asked to increase the monthly pension amount

Pension regulator PFRDA chairman Deepak Mohanty said in an interview to CNBC-TV18 that the regulator has asked the government to increase the maximum monthly pension amount under the government-guaranteed Atal Pension Yojana (APY) from Rs 5,000. However, he has acknowledged that there are several financial constraints.

He said that the target of pension regulator is to increase the enrollment under the scheme, on this front the regional rural banks are doing very well. Atal Pension Yojana has generated a return of 9% and the government has assured gap funding for the scheme.

PFRDA Chairman Mohanty has said that keeping investments in the market for 5-6 years can provide assured returns, but the lack of absolute certainty creates difficulties for some. To overcome this problem, PFRDA is preparing such a scheme, which offers assured returns. However, it will cost additional.

Disclaimer: Here only the information about the performance of the stock is given, it is not an investment advice. Investment in share market is subject to risk and you should consult your advisor before investing.

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You can also open a savings account with the post office. On this, you get exactly the same facilities as a bank account. This account can be opened by any adult or minor person. There is no limit to deposit money in this and you also get tax rebate up to Rs 10,000 on this. You get 4% interest per annum on this account. You have to pay far less charges on the facilities of Post Office Savings Account as compared to any bank account.

Post Office Savings Account Charges

Like any bank account, you also have to pay some charges on it. There are many facilities like maintenance, withdrawal, on which you have to pay a charge. We are going to tell you the same here.

1. There should be a minimum of Rs 500 in your post office savings account. If the amount falls below this limit and remains below this limit by the end of the financial year, a maintenance fee of Rs 50 will be deducted. If there is no money in your account at all, then it will be canceled automatically.

2. You have to pay Rs 50 for getting a duplicate passbook issued.

3. 20-20 rupees have to be paid for issuing account statement or deposit receipt.

4. On getting the passbook issued in the direction of loss or damage to the certificate, Rs 10 has to be paid on every registration.

5. It takes 100-100 rupees for account transfer and for pledging the account.

6. It costs Rs.50 to change or cancel the name of the nominee.

7. You have to pay a charge of Rs 100 for misuse of cheque.

8. In a year, you can use 10 leaves of the check book without any charge, and after that there is a charge of Rs 2 for each leaf.

What are the facilities available on post office account?

So that you can take advantage of the facilities related to your account, make full use of them, for this you also get many additional facilities on it.

– Checkbook
– ATM Card
– Ebanking/Mobile Banking
– Aadhaar Linking
– Atal Pension Yojana
– Pradhan Mantri Suraksha Bima Yojana
– Pradhan Mantri Jeevan Jyoti Bima Yojana

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SBI Sarvottam Special Fixed Deposit

Depositors of State Bank of India (SBI) will get a higher rate of interest than regular FDs by investing in SBI Sarvottam FD. In this special FD scheme best, senior citizens can invest the amount for the tenure. According to SBI, at the rate of 7.9 per cent is given on the deposited amount on completion of two years tenure. Whereas, investors of one year tenure are given interest at the rate of 7.6 per cent on the maturity amount.

SBI V Care Special FD Scheme

The deadline for investing in SBI V Care Special Fixed Scheme has been extended by 3 months. SBI launched the SBI WECARE Special FD scheme for senior citizens in September 2020 during Corona. Investors can invest in this FD of the bank till June 30, 2023. The objective of VCare Special FD is to secure the income of the citizens by paying additional interest on their Fixed Deposits.

1. Senior citizens can invest in SBI Wecare FD scheme on tenure of 5 years and 10 years.
2. The interest rate on SBI WeCare FD is fixed at 7.50 percent.
3. SBI Special FD VCare can be booked by visiting the bank’s branch, using net banking or the YONO app.
4. The interest rate for Special Fixed Deposit WeCare is paid at monthly, quarterly intervals.
5. On maturity of VCare Special Fixed Deposit, the amount of interest will be credited to the customer’s account after deducting TDS.
6. Investors of SBI V Care FD can also take loan through this.

SBI FD Interest Rate

SBI operates FD investment schemes for general citizens and senior citizens with tenures ranging from 7 days to 10 years. Investors can deposit an amount of less than Rs 2 crore on these tenure FDs and the bank offers interest rates ranging from 3.50 percent to 7.50 percent on different tenures.

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It is also called post office FD. Through this, you can get the amount fixed for 1, 2, 3 and 5 years and can get a good interest. If you want, you can also double your amount. But for this you have to fix the money for a long time. Let us tell you that in how much time your money will be doubled through time deposit.

First know the current interest rate

Talking about the interest received on the post office time deposit scheme, currently 6.6% on 1 year FD, 6.8% on two year FD, 6.9% on three year FD and 7% interest on 5 year FD. Are getting. In this, the interest is paid on an annual basis, but it is calculated on a quarterly basis. Apart from this, you get the benefit of compounding in time deposits, that is, apart from the principal, you are also given interest on the interest. The longer you invest, the better you will be able to take advantage of compounding.

This is how your money will double

If you want to get good profit through post office time deposit scheme, then the amount has to be fixed for at least 5 years. In the time deposit of 5 years, you will get interest at the rate of 7 percent. Meanwhile, even if there is a change in the interest rates, the same interest will be charged on your invested amount with which you have invested the money.

Suppose you invest Rs 5 lakh in the post office for five years, then at the rate of 7 per cent you will get Rs 2,07,389 as interest after five years. In this way, you will get Rs 7,07,389 on maturity, but you do not have to withdraw this amount, but you have to fix it again for 5 years. In this case, after the next 5 years, you will get an interest of Rs 5,00,799 on the invested amount and after maturity, the total amount will be Rs 10,00,799.

If you invest money with this formula, you will get Rs 2,00,160 after 10 years, Rs 4,00,319 for Rs 2 lakh, Rs 6,00,479 for Rs 3 lakh after 10 years at 7% interest rate. And after fixing Rs 10 lakh, you will get Rs 20,01,597 after 10 years. That is, after 10 years your amount will double.

keep in mind

The interest rates mentioned above are currently applicable till March 31. That is, to get 7% interest on a 5-year time deposit, you will have to fix the money before March 31. After this, there can be a change in the interest rates. After changing the interest rate, if you fix money in it, then it will be calculated according to the new interest rates.

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LIC keeps bringing many types of policies for its customers from time to time. Today we will tell you about LIC’s money saving policy (LIC Dhan Sanchay Policy). In this policy, you get guaranteed returns, along with many tremendous benefits. Know here the details related to the plan.

Plan gives guaranteed returns

LIC Dhan Sanchay Plan is a non-linked, non-participating, individual saving life insurance plan, which works to provide life insurance cover along with savings. Under this policy, in case of death of the policyholder, financial assistance is provided to the family during the policy term. Also, you get guaranteed returns with fixed income benefits.

4 investment options in the plan

In this plan of LIC, you are given 4 options. A sum assured of Rs 3,30,000 is given under Plan A and B, a minimum sum assured cover of Rs 2,50,000 under Plan C and a sum assured of Rs 22,00,000 under Plan D. To take the policy of Dhan Sanjay Yojana, the minimum age should be 3 years. At the same time, the maximum age limit varies according to the plan. The maximum age for Plan A and B is 50 years, 65 years for Plan C and 40 years for D.

Lowest premium of 30 thousand rupees

You can buy this policy for 5, 10 and 15 years. For the number of years the premium is paid, the income is generated for that number of years. For example, if you take a plan for 5 years, then you will continue to get regular income for 5 years. The lowest premium is Rs.30,000 per annum and there is no limit on the maximum. Through this plan, you can also avail the facility of loan. Along with this, you can also avail riders by paying extra. If you want to buy this policy, then you can buy it both online and offline. For more details you can visit https://licindia.in/ .

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Post Office Public Provident Fund (PPF), Sukanya Samriddhi Yojana and Senior Citizen Savings Scheme (SCSS) are some of the schemes where you can get more than 7 per cent returns. At the same time, in another popular scheme Kisan Vikas Patra (KVP), you can take advantage of 6.9 percent compound interest annually. Here we will tell what is special in the Kisan Vikas Patra (KVP) scheme.

Kisan Vikas Patra (KVP)

KVP is an interesting scheme. This scheme can double your deposit amount in 10 years and 4 months (124 months) at the prevailing interest rate. If you start a KVP deposit of Rs 1 lakh today, it will increase to Rs 2 lakh in the next 124 months.

The current interest rate of 6.9% on KVP deposits is higher than that of many bank fixed deposits. Let us have a look at some of the key features of this small savings scheme-

• Minimum and Maximum Deposit: You can deposit a minimum of Rs 1000 in KVP and then in multiples of Rs 100. There is no maximum limit for investment under this scheme. You can open any number of KVP accounts.
• Maturity: The amount deposited under KVP matures as per the period prescribed by the Ministry of Finance from time to time. Currently, if you deposit today, it will mature after 124 months. However, premature withdrawal is allowed in special circumstances.
• Transfer : In case of death of the account holder, the KVP account for the nominee/legal heir can be transferred from person to person- to the joint holder on the death of the account holder; On the orders of the Court and mortgage of the account to the Specified Authority.

Should I invest in Small Savings Scheme?

Small savings schemes like KVP offered by the post office offer guaranteed returns to investors who cannot afford to lose their hard earned money. Apart from this, many post office schemes like PPF, SSY and SCSS offer higher interest rates and tax benefits as compared to term deposits of banks.

However, if you are not afraid of taking risks, you can invest in market-oriented schemes like mutual funds and stocks. Here you can get higher returns and double the money faster than in the post office scheme. But before investing in mutual funds or stocks, you should do thorough research and consult a professional financial advisor.

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Office of 8 Schemes That Will Make You Crorepati in Few Years The Pension Fund Regulatory and Development Authority (PFRDA) has invited suggestions from consultants requesting proposals for designing the scheme. Earlier, Chairman of Pension Regulatory Supratim Bandyopadhyay had said that discussions are being held with pension funds and actuarial firms in this regard. Minimum Assured Return Scheme is permitted under the PFRDA Act. The funds being managed under Pension Fund schemes are mark-to-market. It has some ups and downs. These are evaluated on the basis of market conditions.

Know what is National Pension Scheme (NPS)

The Central Government had compulsorily implemented the National Pension Scheme on 1 January 2004 for its employees. After this all the states have implemented NPS for their employees. This scheme has also been started for those working in the private sector after 2009. Employees can withdraw a part of NPS after retirement. Also, from the remaining amount, you can take an annuity for regular income. Any person in the age group of 18 to 70 years can avail NPS.

Know what advisors are saying As per the RFP draft of PFRDA, the appointment of a consultant for preparation of Guaranteed Return Scheme under NPS should not create a principal-agent relationship between PFRDA and the service provider. As per the directions of the PFRDA Act, a subscriber opting for a scheme under the National Pension Scheme which gives ‘Minimum Assured Returns’ will have to offer such a plan by a pension fund registered with the regulator. Thus the advisors will have to formulate a ‘Minimum Assured Return’ scheme for the existing and potential clients by the pension fund.

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