In an election year, the Nitish government has given a big gift to the people of Bihar by giving 125 units of free electricity, which political analysts are considering as an election masterstroke. But now the government is going a step further and is taking decisive steps towards the state’s energy self-reliance and green development. The Nitish Kumar government aims to develop Bihar as a ‘green energy hub’ by 2029.

The Bihar government led by Chief Minister Nitish Kumar has set an ambitious target of generating 23,968 MW of renewable energy by 2029-30. This energy will be generated in the state from solar energy, wind energy and biomass sources. The biggest benefit of this will be that every household will get affordable, clean and sustainable electricity, along with almost zero carbon emissions.

Youth will get employment, electricity will come from villages…

This green energy mission of the government will create employment opportunities on a large scale. Villages, farms and startups will now become centers of energy production. Electricity will also be generated locally through solar farming, biogas plants and wind power units. This will not only make the state self-sufficient in terms of energy, but will also ensure a major contribution to the economy.

Investment of 5337 crores, MOU with 4 companies including L&T-NTPC…

In a major step in this direction, the state government has signed an investment agreement (MoU) worth Rs 5,337 crore with companies like L&T, NTPC, Avaada Group and SECI. This has paved the way for the generation of 2,357 MW of renewable energy in Bihar in the initial phase itself. Energy Minister Vijayendra Yadav said, “Bihar will no longer be just a consumer of electricity, but will become a model state showing the direction to the entire country in the energy sector.

Investors will get many concessions…

The state government has announced special facilities and exemptions to increase investment in the energy sector.

100% stamp duty and registration fee waiver on industrial land

Permission to start projects without changing land use

Special concession on electricity transmission and distribution

Facilities like green tariff, energy banking and single window clearance will also be available.

What is the government’s vision?

The Bihar government aims to include Bihar in the first rank of energy producing states in the next five years. For this, the Nitish government’s master plan is ready, which is not just an election promise, but a strong foundation for the future.

The post Beyond Free Electricity: Government Rolls Out Another Major Benefit first appeared on Rightsofemployees.com.

The 400-day special FD scheme of the country’s largest government bank SBI has become quite popular in this case, which is called Amrit Kalash Scheme (SBI Amrit Kalash FD Scheme), its deadline is about to end and people have the last chance to invest in it.

Senior Citizens get more benefit

During the Corona period, when inflation was at its peak, the Reserve Bank of India had continuously increased the repo rate to control it. At such a time, many banks in the country had increased the interest rate on FD to benefit their customers. Talking about SBI’s Amrit Kalash FD Scheme, this is a special 400-day FD scheme (400 Days FD Scheme). In which a strong interest rate of 7.10 percent is offered to the general customers. Whereas senior citizens get even more benefit in this, because for them the interest rate has been fixed 0.50 percent higher i.e. 7.60 percent.

The deadline has been extended several times

This scheme became popular since the launch of SBI and the number of investors in it has increased continuously. The popularity of this 400-day FD scheme can be gauged from the fact that the bank has had to extend its deadline several times. It was first introduced on April 12, 2023 and its deadline was fixed as June 23, 2023. After this, it was extended to December 31, 2023 and then it was extended to March 31, 2024. Before the expiry of this deadline, SBI extended the last date of this special FD scheme to September 30, 2024 and once again it was extended to March 31, 2025.

Calculation of income from interest?

If a general investor invests Rs 1 lakh under this scheme, he will earn Rs 7,100 annually as interest. On the other hand, senior citizens will get Rs 7,600 annually as interest. This scheme will mature in 400 days. That means you will have to invest for 400 days under this scheme. You can invest up to Rs 2 crore in Amrit Kalash Special FD. Now suppose an investor invests Rs 10 lakh, then he will earn Rs 71,000 annually from interest, that is, an income of Rs 5,916 every month. Senior citizens can also get Rs 6,333 every month.

When can you get the interest amount?

Investors in Amrit Kalash Scheme can get interest on monthly, quarterly and half-yearly basis. Maturity interest on this special FD deposit will be deposited in the customer’s account after deducting TDS. TDS will be levied at the applicable rate under the Income Tax Act. To invest in this scheme, you can use SBI’s Yono banking app. Apart from this, you can also invest in this scheme by visiting the branch.

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The post SBI’s superhit FD scheme of 400 days… You can avail the benefit only till this date, great returns on investment first appeared on Rightsofemployees.com.

Punjab National Bank offers FDs with validity ranging from 7 days to 10 years to common citizens. These rates are being given on FDs of more than Rs 3 crore. Let’s see what are the revised interest rates of Punjab National Bank…

Punjab National Bank is giving this much interest on FDs of less than Rs 3 crore

• 7 days to 14 days: For general public – 5.25 percent
• 15 days to 29 days: For general public – 5.25 percent
• 30 days to 45 days: For general public – 5.25 percent
• 46 days to 60 days: For general public – 6.25 percent
• 61 days to 90 days: For general public – 6.25 percent
• 91 days to 179 days: For general public – 6.50 percent
• 180 days to 270 days: For general public – 6.65 percent
• 271 days to 299 days: For general public – 6.75 percent
• 300 days: For general public – 7.00 percent
• 301 days to 302 days – 6.75 percent
• 303 days – 7.00 percent
• 304 days to less than a year – 6.50 percent
• 1 year: For general public – 6.75 percent
• 1 year and above Up to 399 days: For general public – 6.80 percent
• 400 days: For general public – 6.80 percent
• 401 days to 505 days: For general public – 6.80 percent
• 506 days – For general public – 6.70 percent
• 507 days to 2 years: For general public – 6.80 percent
• 2 years to more than 3 years: For general public – 6.50 percent
• More than three years and up to 1203 days – 6.25 percent
• 1204 days – For general public – 6.35 percent
• 5 years to 10 years: For general public – 5.60 percent

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The post Bank FD rate Cut: Punjab National Bank has reduced interest on FD, know the new interest rates first appeared on Rightsofemployees.com.

This creates confusion among investors regarding tax. AMFI, an organization representing the mutual fund industry, has advised the government to eliminate the difference in tax rules. This will bring transparency in investing in mutual funds and will increase investors’ interest in investing.

There is a need to simplify the tax structure

Consultancy firm Deloitte has also advised to remove the shortcomings related to tax. It believes that there is a need to simplify the rules of GST. Currently, many medium and small businesses have to face problems in the case of GST. Deloitte says that if the government simplifies the GST framework, then compliance will increase. Increase in compliance means that the government’s revenue will increase.

The tax burden on SMEs needs to be reduced

Deloitte also says that currently the tax burden on SMEs is high. High taxes reduce the growth potential of SMEs. The government should make such tax rules for SMEs that taxes are low and they get full opportunity to expand their business. If the government provides a favorable environment to SMEs, then their investment in renewable energy and technology will increase. This will increase their productivity.

AMFI advised to simplify the tax rules for mutual funds

AMFI also says that there is a need to make major changes in India’s tax structure. Tax rules will have to be made according to international rules. This will boost economic growth. Experts say that to attract foreign investors, it is necessary to make the tax structure simple and transparent. This will also reduce cases of tax evasion. This will also increase the government’s income. Experts are of the opinion that foreign investors invest only when they see stability in tax rules.

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One such scheme of the post office is Recurring Deposit (RD). In this, your money will be 100% safe. That is, there is no risk of any kind. The more money you invest, the more returns you will get. By investing only Rs 5000 every month, you can raise a huge amount of up to Rs 8 lakh. On the other hand, by depositing Rs 10,000, you can create a huge fund of Rs 16 lakh.

Let us tell you that the post office deposits have the sovereign guarantee of the Government of India. Whereas, the maximum amount of money on bank deposits is only Rs. 5 lakhs. In this way, you can create a fund of lakhs by investing small savings every month.

Earn big money with Post Office RD scheme

Post Office Recurring Deposit (RD) is such a scheme which promotes small savings. Although its maturity is 5 years, but you can also extend it for 5-5 years. At least Rs 100 has to be deposited every month in the RD of the post office. There is no maximum investment limit in this. Excellent returns can be achieved through this. 6.7 percent interest is being given under this scheme. Along with this, interest will be given at the rate of compound interest. Both single account and joint account facilities are available in RD.

Create a fund of 8 lakhs like this

If you deposit Rs 5,000 every month in a post office RD, you will get Rs 8,54,272 on maturity in a period of 10 years. Currently, 6.7 percent annual interest is being given on post office RD. The interest is compounded on a quarterly basis.

There may be a fine

If you do not deposit the installment on time, you will have to pay a penalty. It will be Rs 1 for every Rs 100. This means that if you are unable to deposit any installment, you will have to pay a penalty of 1 percent. On the other hand, if you do not pay the installment 4 times, your account will be closed.

Loan facility is available

After one year, a one-time loan facility of up to 50% of the deposited amount is also provided. Which can be repaid in lump sum along with interest. Not only this, this account can also be transferred from one post office to another. Installments can also be deposited online through IPPB savings account.

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The post Post Office’s superhit Scheme: You can get returns up to Rs 8 lakh by depositing just Rs 5000 every month. check all details first appeared on Rightsofemployees.com.

Recently, the government has updated the interest rates for the third quarter of the current financial year i.e. October to December. If you are also thinking of investing in a small savings scheme, then you should check its latest rates once.

What will be the interest rate this quarter

The government has not made any change in the interest rates for the third quarter. This means that the investor will continue to get the same interest for the next three months as well.

Schemes included in Small Savings Scheme

Many investors are confused about which schemes are included in the small savings scheme. Let us tell you that this scheme includes Public Provident Fund ( PPF ), Senior Citizen Saving Scheme, Sukanya Samriddhi Yojana (SSY), National Saving Certificate (NSC), Post Office Time Deposit Scheme (PODT), Mahila Samman Saving Certificate and Post Office Monthly Income Scheme (POMIS).

According to the table shown above, the highest interest is offered by Sukanya Samriddhi Yojana and Senior Citizens Savings Scheme. These schemes offer a high interest rate of 8.2%. On the other hand, PPF offers an interest rate of 7.1%.

When was the last time the interest rate changed

The government had increased the interest rates of small savings schemes on 31 December 2023. After this, the government has changed only the interest rates of RD and the interest rates of all other small savings schemes remained the same. There has been no change in the interest rates of Public Provident Fund for the last four years. The interest rate of PPF has remained at 7.1 percent since the April-June 2020 quarter.

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The post Small Saving Scheme Interest Rate: Interest rate for October to December has been released, is there any change this time? first appeared on Rightsofemployees.com.

Like a bank, options of FDs of different tenures are available in the post office. 7.5 percent interest is being given on 5-year FD. Along with this, you also get tax benefits under Income Tax Act 80C. In such a situation, if you invest in this scheme, you can triple your money. For this, you have to do just one thing.

Know what you have to do

To triple your money in the post office, you have to choose a 5-year FD. You have to invest in this scheme and extend it before it matures. You have to do this extension 2 times in a row, which means you have to run this FD for 15 years. If you invest Rs 10 lakh in this FD, then at the rate of 7.5 percent interest, you will get Rs 4,49,948 interest on this amount in 5 years. In this way, the total amount will be Rs 14,49,948.

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But if you extend this scheme for 5 years, you will get Rs 11,02,349 only as interest and after 10 years your total amount will be Rs 21,02,349. You will have to extend it once more before it matures. In this case, on the 15th year, you will get Rs 20,48,297 only as interest on an investment of Rs 10 lakh. On maturity, you will get Rs 30,48,297. That is, you will get twice as much interest as your principal and triple your amount.

Understand the rules of extension

Post Office 1 year FD can be extended within 6 months from the date of maturity, 2 year FD within 12 months of maturity period and for extension of 3 and 5 year FD, the post office has to be informed within 18 months of maturity period. Apart from this, you can also request account extension after maturity at the time of opening the account. The interest rate applicable to the respective TD account on the day of maturity will be applicable for the extended period.

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The post Post Office’s great FD Plan: You will get ₹30,00,000 on investment of ₹10,00,000, Know everything here first appeared on Rightsofemployees.com.

If you want to get guaranteed income after a certain period by investing in Fixed Deposit (FD) in the near future, then this news is useful for you. Actually, many big government and private banks of the country are giving their customers up to 8 percent interest on 1 year FD. DCB Bank comes first among them. DCB Bank is giving 7.25 percent interest to its general customers on 1 year FD and 7.75 percent interest to its senior citizen customers. Let us know in detail about the FD rates of the 10 banks giving the highest interest on 1 year investment.

Here you are getting 7.75% interest

Let us tell you that Tamilnadu Mercantile Bank is giving 7.25% interest to its general customers on 1 year FD and 7.75% interest to senior citizen customers. Apart from this, Canara Bank is giving 7% interest to its general customers on 1 year FD and 7.50% interest to senior citizen customers.

Also Read: Double Your Money: 9 schemes are available in Indian Post Office to double your money

On the other hand, Karnataka Bank is giving 7% interest to its general customers on 1 year FD and 7.40% interest to senior citizen customers. While Deutsche Bank is giving 7% interest to its general customers on 1 year FD and the same interest to senior citizen customers. At the same time, RBL Bank is giving 7% interest to its general customers on 1 year FD and 7.50% interest to senior citizen customers.

SBI is giving more than 7% interest

On the other hand, Bank of India is giving 7 percent interest to its general customers and 7.50 percent interest to its senior citizen customers on 1 year FD. While State Bank of India is giving 6.80 percent interest to its general customers and 7.30 percent interest to its senior citizen customers on 1 year FD. Apart from this, Bank of Baroda is giving 7 percent interest to its general customers and 7.25 percent interest to its senior citizen customers on 1 year FD. Whereas, Central Bank of India is giving 6.75 percent interest to its general customers and 7.25 percent interest to its senior citizen customers on 1 year FD.

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The post Bank New FD Rate: Senior citizen customers will get up to 7.75% interest on 1 year investment, Know the details first appeared on Rightsofemployees.com.

What are tax-saving fixed deposits (FDs)?

For those who want to avoid risk in investment or who fall in a lower tax bracket, tax-saving fixed deposits (FDs) can be a good option. Keep in mind that your money gets locked in these FDs for five years. That is, it cannot be withdrawn for five years.

Interest Rates on Tax-Saving FDs in Banks

Interest rates on tax-saving FDs are determined based on the term deposit holdings of banks. This interest is compounded on a quarterly basis. According to Bankbazaar, as per data till June 26, 2024, the interest rates of banks are as follows.

Axis Bank, HDFC Bank and ICICI Bank : An investment of Rs 1.5 lakh at 7% interest rate will grow to Rs 2.12 lakh in five years.

Canara Bank: An investment of Rs 1.5 lakh at 6.70% interest rate will grow to Rs 2.09 lakh in five years.

Also Read: FD: Soon depositors will be able to open a fixed deposit for 20 years: Report

Bank of Baroda, Punjab National Bank, State Bank of India and Union Bank of India : An investment of Rs 1.5 lakh at 6.5% interest rate will grow to Rs 2.07 lakh in five years.

Indian Bank : An investment of Rs 1.5 lakh at 6.25% interest rate will grow to Rs 2.05 lakh in five years.

Bank of India: An investment of Rs 1.5 lakh at 6% interest rate will grow to Rs 2.02 lakh in five years.

DICGC Security Guarantee

The Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India, guarantees fixed deposit investments up to Rs 5 lakh. Tax-saving FDs can be a safe and stable option for investors who want fixed returns without risk. If you are planning to invest for a long period, then this is the best option.

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The post Tax Saving FD: You will get Rs 2.12 lakh on investment of Rs 1.50 lakh, these are the best FDs to save tax first appeared on Rightsofemployees.com.

PPF Investment: Apart from saving, investing in Public Provident Fund is a means of good interest and tax saving. Most Indians like to invest in this scheme. There is a government guarantee on this. The special thing is that this investment has been kept in E-E-E category. Meaning your investment, interest and maturity amount are absolutely tax free. Tax exemption is available on investment up to Rs 1.5 lakh annually in PPF. But, you can increase this investment and also take advantage of double interest. Let us understand…

How does investment double?.

Under Section 80C of Income Tax in PPF, tax exemption is available on investments up to Rs 1.5 lakh. The maximum investment limit in PPF is Rs 1.5 lakh. You can deposit money 12 times in a year. But, here is something useful for married investors. If you open PPF in the name of your partner, you can double the investment in one financial year and can also avail interest on both the accounts.

These benefits are available on investment in PPF

Experts say that by opening a PPF account in the name of his life partner, the investor can invest in PPF instead of his other investment options. In such a situation he will have two options. First, you can deposit up to Rs 1.5 lakh in your account. At the same time, another can deposit Rs 1.5 lakh in the name of the partner in a financial year. Different interest will be available on these two accounts. At the same time, tax exemption of up to Rs 1.5 lakh can be availed on any one account. In such a situation, your PPF investment limit will double to Rs 3 lakh. Being in the E-E-E category, the investor will also benefit from tax exemption on interest and maturity amount of PPF.

No effect of clubbing provisions

Under Section 64 of Income Tax, the income from any amount or gift given by you to your wife will be added to your income. However, in the case of PPF which is completely tax free due to EEE, the clubbing provisions have no impact.

E-E-E category trick
At the same time, when your partner’s PPF account matures in the future, the income from your initial investment in your partner’s PPF account will be added to your income year after year. Therefore, this option also gives married people an opportunity to double their contribution to the PPF account. At present, the interest rate of PPF is fixed at 7.1 percent.

Post Office Special Scheme! Invest just ₹1,000 per month and add ₹8,24,641, save tax too

The post PPF Investment: E-E-E category trick to double the investment, you will get double the interest, know how to benefit. first appeared on Rightsofemployees.com.

State Bank of India (SBI) has extended the deadline for investment in Amrit Kalash FD. Now retail investors can invest in this special FD till September 30, 2024. This is the highest interest paying FD of the bank. In this, 7.10 percent interest is being given to general investors and 7.60 percent interest to senior investors.

In the information given on the bank’s website, it was told that 7.1 percent interest is being given on 400 day FD of SBI. At the same time, 7.60 percent interest is being offered to senior citizens. The investment deadline in this scheme has been extended to September 30, 2024.

Premature withdrawal

In the information given on the website of SBI, it was told that the facility of premature withdrawal is also given in this FD. However, for this a penalty of 0.5 percent to 1 percent will have to be paid. In this FD, interest is paid monthly, quarterly and half yearly and on maturity.

interest rate in sbi FD

State Bank of India is offering 3.5 percent to 7.1 percent interest on FD to general investors. At the same time, interest ranging from 4 percent to 7.50 percent is being offered to senior investors.

SBI FD Rates

• 7 days to 45 days – 3.5 percent
• 46 days to 179 days – 4.75 percent
• 180 days to 210 days – 5.75 percent
• From 211 days to less than 1 year – 6 percent
• From 1 year to less than 2 years – 6.8 percent
• 400 day FD – 7.1 percent
• From 2 years to less than 3 years – 7 percent
• From 3 years to less than 5 years – 6.75 percent
• From 5 years to 10 years -6.5 percent
• The bank is giving additional interest of 0.50 percent to senior citizens on all its FDs.

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The post Good News for SBI Customers! Investment deadline extended in Amrit Kalash FD first appeared on Rightsofemployees.com.

Mutual Fund SIP: SIP remains the first choice of investors at present. SIP has made a new record high in the month of February. At present SIP remains the first choice of investors. An investment of Rs 19,186.58 crore has been made through SIP in the month of February. At the same time, this investment in the month of January was Rs 18,838.33 crore. Investors are very excited about SIP. In such a situation, if you are also planning to invest money in SIP, then keep some important things in mind before doing that.

SIP account number on record

The number of SIP accounts reached a historic high of 820.17 lakh in February, which was more than 791.71 lakh in January. However, the number of new SIP registrations has declined in February. About 49.79 lakh new SIPs have been registered as compared to 51.84 lakh in January.

Never make these mistakes while doing SIP-

Never invest in SIP without research and advice

You should do proper research before investing money in SIP or you can also take advice from an advisor. One should not invest money in any fund without research.

Apart from this, one should not take SIP even after seeing good returns.

Investment in mutual funds has increased significantly, so invest wisely. You should not take any SIP decision just by looking at its returns. Because sometimes the returns of SIP which give good returns also become negative.

Stop SIP sometimes and start it sometimes

According to experts, many times it is seen that investors keep closing SIP from time to time. Sometimes he stops and sometimes he starts. It should not be done like this. By doing this investors do not get full benefit. At the same time, many times one has to suffer losses also.

investing in a single scheme

You should invest money in SIP in different funds and sectors, so that if any one fund or sector goes negative, your portfolio will not be affected much.

The amount invested is too low or too high

Investors should keep in mind that the amount invested in SIP should not be too little or too much. It should be according to your financial goals and risk tolerance. If you invest very little money, you will not get that good return.

How can one start SIP?

If you want to start SIP for the first time, then for this you will first have to choose a brokerage app. You can start investing through any app like Grow, Zerodha. After this you will have to complete the KYC formalities. After this, verification and video call KYC will happen in your app. To register a new account you will have to fill an application form. Only after this you can invest money in SIP.

The post Mutual Funds: Increasing craze for investing money in SIP, how to invest in SIP for the first time? Don’t make these 5 mistakes even by mistake first appeared on Rightsofemployees.com.

You can decide today only what your life will be like after retirement. To live a good life, along with loved ones, money is also needed. If you want a stable income after retirement, then the Post Office Senior Citizen Savings Scheme is perfect for you.

You can start investing in this scheme with Rs 1000. This scheme has been specially designed for senior citizens only. A very important eligibility criteria for investing in this scheme is that the age of the account holder should be 60 years or more. However, people taking VRS can invest even after 55 years. Apart from this, military personnel get a relaxation of 5 more years. This means that he can start investing from the age of 50.

8.2 percent interest

This is a government scheme whose interest rate is also decided by the government. At present the government is giving 8.2 percent annual interest on it. Its interest rate is better than any FD. The higher the investment in this scheme, the higher will be the return. In this you can invest a maximum of Rs 30 lakh.

How to get Rs 20,000 monthly?

If a senior citizen invests Rs 30 lakh together in this scheme, he will get an annual interest of Rs 2.46 lakh. If we look at it on monthly basis, it works out to Rs 20,000. If you want to take this money quarterly then you will get Rs 61,500. If a person invests Rs 5 lakh, he will get Rs 10,250 every quarter.

You will get the benefit of this scheme while paying taxes also. You will get tax exemption of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. Let us tell you that its interest is deposited in the account every year in the first week of April, July, October and January.

The post Post office Scheme : Income of Rs 20,000 every month after retirement, investment can start from just Rs 1000, tax exemption will also be available. first appeared on Rightsofemployees.com.

Know how much profit everyone from ordinary people to super senior citizens can earn on an investment of Rs 1 lakh, 2 lakh and 5 lakh. Let us know about it in detail.

If you like safe investment and want bumper returns, then there is a special scheme option for you in Punjab National Bank (PNB). The special thing is that in this scheme you will not have to invest your money for a very long time,

but even in a short time you will get good profits. We are talking about the fixed deposit scheme of PNB, on which PNB has recently increased the interest rates. The new interest rates have come into effect from January 8.

The interest on this FD has been increased by Punjab National Bank by 80bps i.e. 0.80%. With the increased interest rates, now general people, senior citizens and super senior citizens will all get the benefit of increased interest rates on this FD.

In such a situation, now interest up to 7.85% can be charged on this FD. Know how much profit everyone from ordinary people to super senior citizens can earn on investment of Rs 1 lakh, 2 lakh and 5 lakh.

These are the increased interest rates

In this fixed deposit scheme of PNB, common people are getting interest at the rate of 7.05%, which was earlier 6.25%, while senior citizens will get 7.55% interest which was earlier 6.75%. Super senior citizens can avail the best interest on this. Now they will get interest at the rate of 7.85% which was earlier 7.05%.

How much profit on investment of Rs 1 lakh

General people: Interest rate 7.05%, profit Rs 6,362 = amount after maturity Rs 1,06,362
Senior Citizen: Interest rate 7.55%, profit Rs 6,405 = amount after maturity Rs 1,06,405
Super Senior Citizens: Interest rate 7.85%, profit Rs 6,665 = amount after maturity Rs 1,06,665

How much profit on investment of Rs 2 lakh

General people: Interest rate 7.05%, profit Rs 12,723 = amount after maturity Rs 1,12,723

Senior Citizen: Interest rate 7.55%, profit Rs 12,810 = amount after maturity Rs 1,12,810
Super Senior Citizens: Interest rate 7.85%, profit Rs 13,330 = amount after maturity Rs 1,13,330

The post PNB gave very good news to super senior citizens! You will get interest of Rs 33,326 on investment of Rs 5 lakh in FD first appeared on Rightsofemployees.com.

Fixed Deposit: When it comes to your hard-earned money, you would want to invest your money in multiple financial instruments that not only protect your capital but also provide assured returns. Fixed deposits remain the preferred savings instrument for many Indians. Mainly because they offer guaranteed returns that do not depend on market volatility. It is a handy tool that allows you to diversify your portfolio while providing modest returns.

Fixed deposit is a safe option for investment

Fixed deposits are considered a safe investment option as the principal amount is safe and the returns are predetermined. This makes it a low-risk investment compared to other financial instruments. FDs provide some degree of certainty about returns. Thus attracting conservative investors who prioritize stability over the potentially high returns that are often associated with risky investments.

Another factor increasing the popularity of FDs is that they are easy to understand and easy to operate. Investors deposit a lump sum for a fixed period and receive interest at a predetermined rate on the principal amount. The simplicity of this investment makes it accessible to a wide range of individuals, including those with limited financial knowledge.

Investing in fixed deposits is not as risky as the stock market.

Whereas FD has a fixed tenure. Banks and financial institutions often provide some degree of liquidity through premature withdrawal options. Although this may involve reduction in penalties and interest rates, there should be flexibility to access money in case of emergencies.

An important feature especially for older investors. Fixed deposits provide a stable and predictable source of returns in times of economic uncertainty or market volatility. This stability is attracting risk-averse investors who want to protect their funds from market fluctuations.

Banks, post offices, other financial institutions can open fixed deposit accounts.
You can open a fixed deposit account in any bank, post office and other financial institutions across India. Banks often offer additional interest rates to senior citizens. That makes fixed deposits an attractive option for retirees or those looking for a stable income source during their post-employment years.

Above are the interest rates of 10 big banks on fixed deposits. If you invest Rs 1 lakh here for three years, you will get this much money as per the data given above. Data compiled by BankBazaar.com on February 5, 2024.

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Bharathu Investment and Finance India, Cox & Kings Financial Services and PSPR Enterprises have been hit by RBI’s strictness. Along with this, 9 NBFCs and housing companies have surrendered their licenses.

These NBFCs and housing companies surrendered their licenses.

The Reserve Bank has informed that 9 NBFCs and one housing finance company have surrendered their licenses. Reliance Home Finance Limited is also included in these. The company has decided to return the license after exiting the housing finance institution business.

Among the nine NBFCs that have surrendered their licenses, Smile Microfinance, JFC Impex, Kaveri Tradefin and Ginni Tradefin have gone out of business. Apart from this, JG Trading and Investment, SK Finserv, Microfirm Capital, Bohra & Company and Mahico Grow Finance Private Limited surrendered their licenses. All these companies have given different reasons.

Number of NBFCs reduced from 200 to 26

According to RBI, the rules were not being followed properly in these NBFCs. This cannot be tolerated. The central bank said that NBFCs are formed to fulfill certain economic objectives. It is unnatural for them to demand to become like banks. RBI is not in favor of allowing more number of NBFCs to accept deposits. This is the reason why not a single new license has been given. Also, the number of NBFCs accepting deposits has reduced from 200 to only 26.

Regulatory changes coming in the financial sector

These decisions of RBI clearly show that regulatory changes are coming in the financial sector. RBI is in no mood to tolerate the loophole. This is the reason why many companies have surrendered their licenses. These steps of the central bank are to follow the regulatory rules responsibly and keep the financial system healthy and stable by making finance companies accountable.

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New Delhi. After investing money in the stock market, everyone wants to get strong returns as soon as possible. But there are very few whose dream is fulfilled. It is very difficult to find such stocks whose returns have exploded in a short period of time. Rathi Steel and Power Limited is one such stock.

Those who would have invested Rs 1 lakh in it 6 months ago, today their investment would have become more than Rs 13 lakh. Rathi Steels has given returns of more than 1250 percent to its investors in the last 6 months.

Its shares are in upper circuit even on Monday. This share was worth Rs 3.3 on July 3 last year. On January 29, this share has reached Rs 45.32. This is an increase of 1373 percent in the price of this share since then. Now if someone had invested Rs 1 lakh in this share in July, he would have got 30,303 shares. Today the price of those shares has increased from Rs 45.32 to more than Rs 13.73 lakh.

Good returns even in 1 month

Leave aside 6 months, in just 1 month this stock has given returns of more than 45 percent to its investors. Shares of Rathi Steels are currently at their 52-week high. There is an increase of about 2 percent in this stock on Monday and till the time of writing the news, sales in it have stopped. However, there has been no decline in the shares of Rathi Steel this entire month, which also signals investors to remain cautious.

About the company

According to the information available on Grow, Rathi Steel was established in 1971. 51 percent shares of the company are held by its promoters. The company has 40 percent shares in the retail market. The market cap of the company is more than Rs 139 crore. Rathi Steel had released its last quarterly results in September 2023.

Then the company’s revenue had declined by Rs 21 crore to Rs 128 crore as compared to the June quarter. Talking about profit, the company had made a profit of Rs 82 lakh in the September 23 quarter. Whereas the company’s profit in the June quarter was Rs 2 crore. Before that, the company had made a profit of Rs 80 crore in the March quarter.

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NPS Tier 1 account is a long term investment scheme backed by the Government of India. In this, you can create a retirement corpus through locked-in contributions till the age of 60 years. This scheme provides you regular income after retirement. The contribution made in this scheme remains locked till the age of 60 years. However, partial withdrawal facility is also available in certain special circumstances.

Where is your money invested?

The money invested in NPS Tier 1 account goes to the Pension Fund Regulatory and Development Authority i.e. PFRDA. It is the nodal agency that oversees the NPS in India. After this PFRDA allots your funds to different fund managers. These fund managers invest this amount in a diversified portfolio of assets based on the investment scheme you choose.

Ability to give higher returns than PPF

The returns you get on your NPS Tier 1 account depend on the fund you choose and overall market conditions. However, NPS has the potential to offer higher returns than traditional pension plans like PPF. Because it also invests some part of your funds in shares.

These are some special features of NPS Tier 1 account:

• All Indian citizens between the age of 18 to 65 years can open an account in NPS Tier 1 account. NRIs can also participate in this scheme.
• The minimum annual contribution in NPS Tier 1 account is Rs 1000. At the same time, there is no upper limit. You can invest any amount of money in this scheme. You can invest in this scheme on monthly, quarterly, half yearly or yearly basis.
• Investments in NPS Tier 1 account are eligible for tax deduction under Section 80C of the Income Tax Act. Tax deduction can be claimed on Rs 1.5 lakh invested annually here. At the same time, an additional deduction of Rs 50,000 can also be claimed under section 80CCD (1B) for investments made by salaried employees.
• Returns in NPS Tier 1 account depend on the performance of the fund and asset allocation chosen by the investor. This scheme offers a mix of equity and debt funds. You can choose your investment according to your risk capacity.
• On reaching the age of 60 years, you can withdraw 60 percent of the fund, it will be tax free. The remaining 40 percent will be used to purchase an annuity from an IRDA regulated life insurance company. This annuity will provide you regular monthly income for the remaining life.

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The maturity of this scheme is 5 years and single or joint account can be opened in it. For your information, let us tell you that the interest available in this scheme has been increased from October. Now if you invest in this scheme, you will be offered interest at the rate of 7.4%. Note, every quarter the government changes the interest received from POMIS.

Know this important thing before investing in POMIS

If you are planning to open a single account under the post office scheme, then only up to Rs 9 lakh can be deposited. At the same time, if both husband and wife together open a joint account, then in this case only up to Rs 15 lakh is allowed to be deposited.

If husband and wife open a joint account then these will be the rules

In POMIS, 2 or 3 people can open a joint account. All joint account holders get equal share. Know that if someone wants a single account instead of a joint account, then it is also possible to do so.

Talking about withdrawal, if you withdraw money within 1-3 years, the amount will be returned to you after deducting 2% interest. At the same time, if you want to withdraw money after 3 years, then the money will be returned to you after deducting 1% of the deposit amount.

You will get this much interest on investment of Rs 5 lakh

Suppose if you invest ₹ 5,00,000 in this scheme. In 5 years you will get interest at the rate of 7.4% per annum. In this case, you will get Rs 3,084 from interest every month. At the same time, your total interest will be Rs 1,85,000.

This means that if you invest Rs 5 lakh for 5 years, you will get only interest of Rs 1,85,000 on POMIS account maturity. At the same time, more than Rs 3,000 will continue to come into the account every month.

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Today we are telling you about 4 such banks which are giving up to 8 percent interest on FD to senior citizens. Getting 8 percent return on FD is quite attractive. This is because FD i.e. Fixed Deposit is not known for returns.

However, let us know which those 4 banks are. The first bank is Punjab and Sindh Bank. Here common people are getting 7.40 percent return on FD of 444 days. This bank gives 0.50 percent additional interest to senior citizens. This offer can be availed only till 31 January 2024.

CSB Bank. It is offering a special FD named Acharya Fixed Deposit to senior citizens. Under this scheme, senior citizens can get 7.75 percent interest on FD of 401 days. The bank has revised the interest rates on 1 December.

IndusInd Bank- On December 1, this bank also revised FD rates. This bank is offering interest up to 8 and 8.25 percent. 8.25 percent interest is available on FDs of 1 year to 2 years and 8 percent interest on FDs of more than 2 years to less than 61 months.

Capital Small Finance Bank- This bank is giving maximum interest of 8.10 percent on FD of 400 days. Apart from this, 8 percent interest is being offered on 12 month FD, 7.90 percent interest is being offered on 600 and 900 day FD.

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This should alert people regarding investment. Actually, people investing in the stock market are in great need of a demat account. People keep buying and selling shares through Demat account only. Now an important update has come out regarding this.

SEBI account

While giving information about demat account, SEBI has now said that people should keep their investments in demat form. Market regulator SEBI said on Saturday that after September 2024, all new investments made through alternative investment funds should be kept in demat form. This decision was taken to simplify compliance and strengthen investor protection in AIFs.

Amendment in AIF rules approved

Along with this, amendment in AIF rules has been approved by SEBI. While approving the amendment in AIF rules, SEBI said that some exceptions have been given in it. Additionally, SEBI said the power to appoint custodians should be extended to all AIFs. This will also provide a lot of convenience to the people.

Will be applicable on these schemes

However, currently information has also been given on which schemes it will be applicable on. Currently, this requirement applies to Category-3 AIFs and Category-1 and Category-2 AIF schemes with corpus of more than Rs 500 crore. The regulator gave this information in a statement after the board meeting. With this, people should now become alert about their investments and should keep in mind in what form their investments exist.

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But if you are confused about how much money should be invested every month… then don’t worry at all. Today we will tell you how much money you will get after 15 years and 20 years by investing ₹ 1000, ₹ 2000, ₹ 3000, ₹ 5000.

Let us tell you that currently 7.1 percent interest is being given in Public Provident Fund. If you invest for 15 or 20 years with this interest rate, you can create a huge fund. Let’s see the calculation –

Rs 1000 monthly investment

If you invest Rs 1000 every month in the PPF scheme, then after 15 years you will get Rs 3.25 lakh. Apart from this, if you invest for 20 years then you will get Rs 5.32 lakh.

Rs 2000 monthly investment

Apart from this, if you invest Rs 2000 every month in this government scheme, you will get Rs 6.50 lakh after 15 years. Whereas, if you extend it for 5 more years i.e. after 20 years you will get Rs 10.65 lakh.

Rs 3000 monthly investment

If you invest Rs 3000 every month, then after 10 years you will get Rs 9.76 lakh. At the same time, after 20 years you will get Rs 15.97 lakh on this investment.

Rs 5000 monthly investment

If you invest Rs 5000 every month in the PPF scheme, you will get Rs 16.27 lakh after 15 years. Apart from this, after 20 years you will get Rs 26.63 lakh on this investment.

You will get full money back on maturity

Let us tell you that when the maturity of your PPF account is completed, you will get the interest amount along with whatever money you have deposited. In case of account closure, your entire money is transferred to the account. Along with this, let us tell you that the money and interest received on maturity is completely tax free. No tax will be imposed on this by the government.

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If you are planning to start a business then you should ensure that you are on the right path with adequate investment. Making a business a successful business requires many things like proper planning, investment and utmost determination. If you have determination but lack sufficient funds, then we are here to tell you the five best business ideas that you can start with Rs 20,000.

5 best business ideas under Rs 20,000

Handmade candle business

There is always a demand for candles. This is a great growing business idea for less than Rs 20,000. Candles are used for a variety of religious or decoration purposes. Their demand skyrockets during the festive season, even on normal days, the demand for medicinal and scented candles remains high in restaurants, homes and hotels. Therefore, this can be an ideal business idea to start with low investment.

Pickle business

Another good business idea with low investment is pickle business. Eating pickles during meals is quite popular in India, almost every household has at least one type of pickle. Thus, if you want to start a small business, pickle business is a safe and easy option. The demand for pickles remains high throughout the year in Indian markets. Any person can start this business very easily.

Content writing

In today’s time, content writing business is one of the most traded business options. In this a person earns money through his art of writing. A person with adequate skills can start a content writing business which does not require large capital. All you need is the right skills and adequate investment to start as a content writer and you can share your expertise with people who want your writing services for their business. You just need to understand how content works and how to create impactful content.

Baby care business

In this busy world where both parents work, a daycare business is a great business idea. All you need is a place where you will take care of their child. It also does not require a lot of capital to invest and with a modest amount of money, anyone can start a successful day care service center where people can leave their child in case of emergency.

Mobile repairing service

If you have the required skills and knowledge about mobile repairing service, you can start a mobile repairing service center. This is one of the best business options which does not require big investment, rather anyone can start this business with an investment of less than Rs 20,000. This business is very profitable because almost every adult has a smartphone, and almost everyone needs their phone repaired sometimes.

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Post Office Small Savings Schemes are the best option for guaranteed returns without risk. One of these is the superhit Time Deposit (TD) scheme of the post office. In this scheme, lump sum deposit can be made for maturity of 1, 2, 3 and 5 years. In this, interest rates on depositing money are paid on annual basis.

Know the details of interest rates-

The interest rate on post office time deposit of 1 year is 6.90 percent and on 2 years it is 7 percent. Apart from this, 7 percent interest is being given on 3 year deposits and 7.5 percent annual interest is being given on 5 year deposits. These interest rates are applicable from 1 July-30 September 2023.

₹2.25 lakh interest on ₹5 lakh in 5 years-

According to Post Office TD Calculator, if you deposit Rs 5 lakh for 5 years, the maturity amount will be Rs 7,24,974. That means, Rs 2,24,974 will be earned from interest. The deposit rates of Post Office Small Savings Schemes are reviewed every quarter by the government. This means that interest rates may change every quarter. But, in term deposits, the interest rates fixed at the time of deposit remain for the entire maturity period.

Tax deduction will be available on 5 years TD-

The benefit of tax exemption is available on TD of 5 years in post office. Under Section 80C of Income Tax, tax deduction can be claimed on investments up to Rs 1.5 lakh. Keep in mind here that the amount received on maturity in TD is taxable.

Single account and joint account are also opened under Post Office TD. Maximum 3 adults can be included in the joint account. This account can be opened with a minimum of Rs 1000. After this you can invest in it in multiples of Rs 100. There is no limit on investment in post office time deposit.

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This change will provide more convenience to senior citizens to invest in this scheme. The government is currently offering 8.2 percent interest in this scheme.

In such a situation, if you are planning to invest in this scheme, then before that definitely know about the changes in this scheme. All these changes have come into effect from November 9. Let us know about the changes in these schemes one by one.

More time to invest retirement benefits

Retired persons above 55 years of age but below 60 years will now get three months time to open SCSS account, which was earlier one month.

Retirement benefits means provident fund, retirement or death gratuity , leave encashment etc. received by a person after retirement.

Government employee’s spouse will invest

The government has further eased the rules for investing in SCSS for spouses of government employees who die while on duty. According to the new rules, now spouses of government employees can also invest in the scheme.

However, this investment will be allowed only if the deceased government employee has attained the age of 50 years and has died while in service.

Deduction on premature withdrawal

According to the new rules, if the account is closed before completion of one year of investment, one percent of the deposited amount will be deducted.

Earlier, if the account was closed before the expiry of one year, the interest paid on the amount deposited in the account was recovered from the amount deposited and the entire balance was paid to the account holder.

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It is this good habit of investing that has kept us Indians safe in difficult times like economic recession and has provided a sense of financial security to our families. But, while investing, it is very important for us to have correct and proper information about all the rules related to it.

One of these very important rules is related to the nominee of the investment. Recently SEBI has made changes in the rules related to information to be given in the event of death of the investor, which will come into effect from January 01, 2024. It is very important for all of you to know these KYC rules.

Information and verification process will become easier

SEBI has changed the rules to simplify the process of informing and verifying the death of an investor. Under this, the joint account holder, nominee, legal advisor or family member will have to do online or offline verification one day after receiving the death certificate and PAN number. After this, a copy of the nominee’s identity card, relationship with the deceased and contact details will have to be given. If for some reason all the necessary documents are not received after the intimation of death, then the KYC status of the investor will have to be put on hold.

What will happen in case of joint account?

The company will have to inform about the change in KYC and all the documents will have to be uploaded. Also, the facility of debit from the deceased account or portfolio will have to be stopped. In case of joint account, the account will remain active.

What will companies have to do?

The process of checking the documents entered in the system will have to be started. Also, information in this regard will have to be collected from people associated with the investor. After the death certificate is verified, the company will have to close the account completely and this information will have to be given to all the parties. If any deficiency is found in the papers, then changes in KYC will have to be made and this information will have to be given to the people related to the deceased.

What will the relatives of the deceased have to do?

On receiving the information of completion of KYC, they will not have to do any transaction related to the account of the deceased. If KYC status is stated to be on hold then they will have to provide other required documents.

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If you are a salary class person, it is wise to invest right at the beginning of your job. The longer you invest, the better returns you can expect. You can create a corpus of more than Rs 1 crore in 25 years by investing in PPF.

This much money will have to be deposited every month

If you deposit Rs 12,500 every month in PPF account and invest it for 15 years. So you will get a total of Rs 40.68 lakh on maturity. Your total investment in this will be Rs 22.50 lakh, while your income from interest will be Rs 18.18 lakh. This calculation has been done on the basis of 7.1% annual interest for the next 15 years. The maturity amount may change when the interest rate changes. Interest in PPF is available on compounding basis.

This is how you will become a millionaire

If you want to become a millionaire through this scheme, then after 15 years you will have to extend it twice for 5 years each. That means, now your investment period will be 25 years. After 25 years you will get a total of Rs 1.03 crore. Your total investment during this period will be Rs 37.50 lakh, while you will get Rs 65.58 lakh as interest income. Keep in mind that if you want to extend the PPF account, you will have to apply one year before maturity. The account will not be extended after maturity.

Get exemption on tax

The biggest advantage of the PPF scheme is that it gets tax exemption under Section 80C of the Income Tax Act. In this scheme, you can avail rebate on investment up to Rs 1.5 lakh. The interest received on PPF is also not taxed. The most important thing is that the government promotes small savings schemes. Therefore investing in it is completely safe.

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If you also want to secure the future of your child, want to deal with the responsibilities ranging from higher studies to marriage without any tension, then start financial planning with his birth. If you start investing even 5,000 rupees every month in his name, then by the time your child is 20 years old, you can easily create a fund of up to 50,000,00 for him. Know how?

Money will be made from SIP

In today’s time, SIP i.e. Systematic Investment Plan is very popular among the people. Through this you invest money in mutual funds. However, due to being linked to the market, it cannot be assured of fixed interest rates. But SIP is considered less risky than investing money directly in the market. Experts believe that in the long run, SIP works for wealth creation for you as it gets the benefit of compounding interest. Generally, an average return of up to 12 per cent is available in SIP. If your luck is good then the returns can be even better.

know the calculation

Suppose you start a monthly SIP of Rs 5,000 with the birth of a child and invest in it continuously for 20 years. In this case, your total investment in 20 years will be Rs 12,00,000, but according to 12 percent, you will get Rs 37,95,740 interest on this invested amount. In this way, in 20 years, including the invested amount and interest, you will get a total of Rs 49,95,740 i.e. around 50 lakhs.

On the other hand, if you continue this investment for 5 more years i.e. for 25 years, then you will get Rs 94,88,175. This is such an amount that you cannot get in any scheme. If you get a return of around 15 percent, then the profit can be even better. You can invest this amount anywhere from your child’s career to his marriage.

(Disclaimer: Investments in Mutual Funds are subject to market risks. Do your own research or consult your advisor before investing.)

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In this series, today we are going to tell you about mutual fund schemes, where you can get good returns by investing. It is worth noting that there is a high risk of market risks in this area of ​​investment. However, the chances of getting returns from here are also quite good. Many mutual fund schemes have given excellent returns in the past years

. It is important to keep many things in mind while investing in a mutual fund scheme. In this series, let us understand the mathematics of investment, with the help of which you can collect Rs 1.4 crore by investing Rs 5,000.

For this, first of all you have to select a good mutual fund scheme. After that SIP has to be made in it. After making SIP, you will have to invest Rs 5,000 in it every month.

You have to invest Rs 5,000 every month for 30 years. Apart from this, you have to expect that your investment will get an estimated return of 11 percent every year. In this case, you can collect a total of Rs 1.4 crore at the time of maturity. With this money received at the time of maturity, you will be able to live a financially independent life.

Disclaimer: Money invested in mutual funds is subject to market risks. Before investing in this, definitely take advice from experts. If you invest in mutual funds without knowledge. In this situation you may have to face a big loss. The returns on investments made in mutual funds are determined by market behavior.

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In MSSC, money has to be deposited for two years. After two years you get the entire amount back along with interest and principal. At present, interest on this scheme is 7.5 percent. In such a situation, if you invest Rs 50,000, Rs 1,00,000 and Rs 2,00,000 in this government scheme, then how much return will you get? Know the calculation here.

What is the return on investment from Rs 50,000 to Rs 2 lakh?

According to Mahila Samman Saving Certificate Scheme Calculator 2023, if you invest Rs 50,000 in this scheme, then after two years at 7.5 percent interest rate, you will get Rs 8,011 as interest on the amount. but will meet. In this way, after two years you will get a total of Rs 58,011.

Whereas if you invest Rs 1,00,000 in the scheme, then at 7.5 percent interest rate you will get Rs 1,16,022 at the time of maturity. If you deposit Rs 1,50,000, you will get Rs 1,74,033 after two years. If you invest Rs 2,00,000, then after two years at 7.5 percent interest rate, you will get Rs 32,044 as interest on the invested amount. In this way you will get a total of Rs 2,32,044 on maturity.

Where will the account be opened

Any woman can open her account in post office or authorized banks. For girls below 18 years of age, their parents can open this account. While opening an account, you will have to fill Form-1, along with this you will need KYC documents like Aadhar Card, PAN Card and colorful photo etc. The benefit of this scheme can be availed till the year 2025.

Withdrawal rules

If you want to withdraw money from the account before the maturity period, then you get this facility after 1 year. If you need money in between, then after completion of 1 year, you can withdraw up to 40 percent of the deposited money. Can take out.

If the account holder falls seriously ill or dies, the Mahila Samman Savings Patra Scheme account can be closed after six months of opening the account. But in this situation the money is returned by reducing the interest rate by 2%. In such a situation, interest will be given at the rate of 5.5 percent.

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The government decides the interest rates of small savings schemes every quarter. Kisan Vikas Patra decision has arrived. There has been no change in interest rates for the October-December quarter. This clearly means that investors will get interest at the rate of 7.5 percent in the October-December quarter.

Let us tell you that this scheme Kisan Vikas Patra (KVP) is going to give guaranteed returns. In this a lump sum amount has to be deposited. The invested amount can be doubled in the stipulated time. In how much time will the amount double? The interest rate on Kisan Vikas Patra is 7.5 percent. The scheme will mature in 115 months. The amount invested in Kisan Vikas Patra doubles on maturity.

What is Kisan Vikas Patra-Kisan Vikas Patra is a small savings scheme with a fixed rate. Which has been designed to make investment easy to understand. In this, a certificate is issued to the investor and at the time of maturity, the investment amount gets doubled.

That is, the investor does not have to do much calculation of the investment and he gets to know after how much time his money will double. The aim of this scheme is to promote long-term investment without risk among the common people. And more and more people can save money for their future

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Even after working hard all their life, they are left with no source of income in their old age, due to which they have to face many difficulties. To solve these problems, the central and state governments are running many schemes. We are going to tell you about one such scheme, which is run by the Haryana State Government.

About the scheme

The name of the scheme is “Nirman Kamgar Pension Yojana”. Under this, construction workers are given Rs 3000 as pension. Construction workers of 60 years of age or above can avail the benefits of the scheme. Natives of Haryana can apply for the scheme. Also, it will be mandatory for the applicant to have membership in the Workers’ Board. Apart from this, the applicant should not be a beneficiary of the scheme of any other department/corporation/board.

How to avail benefits?

You can apply online by visiting the Antodaya Saral portal. Some documents will be required for this. The list includes Haryana residence proof/permanent certificate, bank details, Aadhar card, age certificate, construction workers board registration number, passport size certificate, work slip, age certificate, email ID and mobile number. For more information related to the scheme, you can visit the official website saralharyana.gov.in.

(Disclaimer: The purpose of this article is only to share information. Rightsofemployees.com does not advise investing in any scheme.)

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At this time, Public Provident Fund is the best option for long term investment. In this, along with the government guarantee, your money is also safe. Apart from all this, you also get good returns. Tax is not to be paid even on the returns received.

Best investment option for long term

PPF scheme is the best option to invest money for long term. You can invest up to Rs 1.5 lakh in it every year. In this you get the facility of compound interest. Along with this, market fluctuations have no impact on these government schemes.

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In old age, they have to depend on their husband or children for their small needs. But women can avail the benefit of monthly pension after the age of 60 years. The National Pension System of the Government of India will help you in this.

About the plan

NPS is considered a better option for safe investment and guaranteed returns. Through the scheme, the wife can live a self-reliant life even in the absence of her husband. It also gives good returns. Women can transfer their accounts from one city to another. Not only this, the maturity amount and returns are tax free. Women between 18 years to 60 years of age can avail its benefits.

This is the calculation

The pension amount depends on investment. Under the scheme, if women start investing at the age of 25 years. And deposits Rs 15,000 every month. So by the age of 60, a fund of about Rs 1.12 crore is created, which also includes 10% annual return. At the time of maturity, you will get a lump sum pension of Rs 45 lakh and a pension of up to Rs 45 thousand every month.

(Disclaimer: The purpose of this article is to share general information only. rightsofempoyees does not advise investing in any scheme.)

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Currently, investments up to Rs 1.5 lakh per annum in various tax saving schemes, home loans and life insurance policies are eligible for deduction under Section 80C. Savings schemes eligible for deduction under section 80C include PPF, EPF, NSC, NPS, SCSS, FDs for five years in banks and post offices, ELSS and mutual funds etc.

Taxpayers have been demanding to increase the section 80C limit for many years. Even many groups had demanded to increase it to 3 lakhs, in which ICAI, in its pre-budget 2023 recommendations, had demanded the government to increase the limit under section 80C from Rs 1.5 lakh to Rs 3 lakh.

Will the government increase the limit

The Central Government has so far decided not to increase the limit under section 80C. This information has been given in the statement issued by the Ministry of Finance. At the same time, a new tax regime has been introduced without Section 80C deduction with lower rates by not increasing the limit. State Finance Minister Pankaj Chowdhary said in the Lok Sabha on July 31 that it has been the declared policy of the government to simplify the Income Tax Act, 1961 by reducing the rates of taxes. In such a situation, there is no proposal to increase the exemption under Section 80C of the Income Tax Act under consideration.

Increased interest of these schemes

Minister of State for Finance Pankaj Chowdhary said that in the second quarter (July to September) of the financial year 2023-24, the rate of interest on National Savings Fixed Deposit Scheme (1 year and 2 years) and National Savings Recurring Deposit will be increased by 10 bps and 30 bps respectively. has been increased. Chaudhary also said that the net collection under small savings for the first quarter of the financial year 2023-24 was Rs 74,937 crore.

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The country’s largest insurance company LIC (LIC) has plans for every age group. Retirement plans are especially popular in the Life Insurance Corporation of India, which are going to end the tension of pension in old age. One such scheme is LIC Jeevan Shanti ‘LIC New Jeevan Shanti’ plan which will not let you face the shortage of money after retirement. There is a need to invest only once in this scheme.

The specialty of the New Jeevan Shanti plan is the New Jeevan Shanti (LIC New Jeevan Shanti) scheme included in all the pension plans of the Life Insurance Corporation of India (LIC). This plan guarantees you a lifetime pension after retirement. LIC’s New Jeevan Shanti Scheme is an annuity scheme and your pension can also be fixed at the time of taking it, after which you will continue to get this much pension every month. After investing in it, there is a lock-in period of one to five years, after which you start getting fixed pension every month.

Plan can be bought in two ways

There is no maximum limit for investment in LIC New Jeevan Shanti scheme, although the minimum investment for taking this plan has been fixed at Rs 1.5 lakh. Under this scheme, the age limit is fixed from 30 years to 79 years. Anyone in the middle of this age range can buy this plan. This plan can be bought in two options. The first is Deferred Annuity for Single Life, while the second is Deferred Annuity for Joint Life.

This is how annuity plan works.

Talk about the annuity received by purchasing this plan, then the policyholder continues to get pension for life, but if the policyholder dies due to any reason, and he has Deferred Annuity for Single Life Plan, then his The money deposited in the account is given to the nominee mentioned in the documents. On the other hand, if the person has taken Deferred Annuity for Joint Life Plan and one person dies, then the pension facility is given to the other. On the other hand, on the death of both the persons, all the money is given to the nominee.

Ways to take pension and facility of surrender

You can surrender anytime after purchasing this pension plan of LIC. Apart from this, you can also choose the option of receiving pension at desired intervals after the one-time investment. That is, you can take your pension every month, if you want, you can select for three months or six months or you can also get a lump sum pension annually.

This is how you get month-wise pension

under this single premium plan of Life Insurance Corporation of India, if you make a minimum investment of Rs 1.5 lakh, then your pension becomes fixed at Rs 1,000. On the other hand, if you increase the one time investment to 10 lakhs in case of deferred annuity for single life, then your monthly pension will be fixed at Rs 11,192, which will continue to be available throughout life. Overall, taking this policy as a retirement plan can prove to be a profitable deal.

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That is, there is no guarantee of money growth in them and there is no risk of drowning. From July 1, the government has also increased the interest on post office RD. Now this scheme will get interest at the rate of 6.5, which was till now getting at the rate of 6.2. RD scheme has been started in the post office for 5 years. You can start investing in it from Rs 100. Let us tell you that with the new interest rate, how much profit will be available on RD of Rs 2000, 3000, 4000 and 5000 in the post office?

RD of Rs 2000

If you start an RD of Rs 2000 every month, then in a year you will invest a total of Rs 24000. The total investment in 5 years will be Rs.1,20,000. If interest is calculated on this according to 6.5, then in 5 years you will get Rs 21,983 as interest. In this way you will get Rs 1,41,983 on maturity.

RD of Rs 3000

On the other hand, if you deposit Rs 3000 every month in Post Office RD, then Rs 36000 will be invested in a year and Rs 1,80,000 in 5 years. 32,972 in the form of interest in 5 years and thus a total of Rs 2,12,972 will be received on maturity.

RD of Rs 4000

By depositing Rs 4000 every month in Post Office RD, you will invest Rs 48000 in a year. In this way the total investment in 5 years will be Rs 2,40,000. Interest of Rs 43,968 will be received on this. Including the invested amount and interest, you will get Rs 2,83,968 on maturity.

RD of Rs 5000

If you are starting post office monthly RD with Rs 5000 then you will have to invest Rs 60000 annually. In 5 years you will invest a total of Rs.3,00,000. After 5 years you will get Rs 54,954 as interest. In this way, after 5 years, adding the total deposit and interest, Rs 3,54,954 will be returned.

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Interest rates on SBI WeCare FD 

The bank gives 0.50 more interest to senior citizens than the general customer on any FD. SBI WeCare is getting 7.50% interest. In this scheme of SBI, customers get 0.30% more interest than regular FD. If you join this FD scheme then you can also get loan facility.

You can invest for so long

Investments under the scheme are made for a minimum of 5 years and a maximum of 10 years. These rates will be available on new and renewable FDs. The last date to invest in this scheme is 30 September 2023.

Money will double in so many years

At present, SBI Bank customers are getting interest at the rate of 7.5 per cent on VCare FD. If seen, the money in this will double in 10 years at this rate of interest. That is, if you invest Rs 5 lakh, you can get more than Rs 10 lakh at the time of maturity. For Rs 5 lakh, you will get Rs 5.5 lakh as interest in 10 years. The bank is offering 6.5 per cent interest on 10-year FDs on regular FDs. SBI is paying interest ranging from 3.50% to 7.60% on its regular FDs ranging from 7 days to 10 years.

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But it is not so, now government banks are also giving a chance to earn huge returns on fixed deposits. The country’s largest public sector bank SBI operates a special investment scheme for senior citizens, We Care (SBI WeCare Special FD).

Money can be doubled directly by investing in this FD scheme. The bank had launched WeCare FD (SBI WeCare Fixed Deposit) with the aim of securing the money of senior citizens during Kovid and giving higher returns with the highest interest rate in return. The bank has said that senior citizens will be able to invest in this special FD scheme till 30 September 2023.

Opportunity to get 7.50 percent interest

According to SBI’s website, senior citizens will get an additional interest of 0.50 percent. Under the scheme, 7.50 percent interest is being received on FDs of 5 years to 10 years. In this scheme, you can book FD using netbanking or Yono app or by visiting the branch. Its interest can be received every month, quarter, half year or annually. Later interest on FD will be available after deducting TDS. SBI offers 0.50% higher interest rate to senior citizens, Interest rates on Regular Fixed Deposits range between 3.50% and 7.50% for tenures ranging from 7 days to 10 years.

You will get 10 lakhs on an investment of 5 lakhs, in this FD scheme your money will double in 10 years. That is, if you invest Rs 5 lakh, then after 10 years you will get more than Rs 10. For 5 lakh rupees, you will get 5.5 lakh rupees in 10 years as interest. The bank is paying interest at the rate of 6.5 per cent on 10-year FD on regular FD.

SBI has also extended the last date of Amrit Kalash FD scheme, apart from this, SBI has also extended the period of Amrit Kalash Special FD scheme. Under this scheme, SBI offers the highest rate of interest to senior citizens and others as compared to FDs of other tenures.

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Investment is made for 15 years

This scheme is for 15 years and gives the benefit of compound interest. At present, the interest rate on PPF is 7.1 per cent. If you also want to invest in this scheme, then let us know how much return you will get by investing 2000, 3000, 4000 and 5000 rupees every month?

You will get this much return after investing Rs 2,000

As per the PPF calculator, if you invest Rs 2000 per month in PPF, you will invest Rs 24,000 in a year. In this way, in 15 years you will invest a total of Rs 3,60,000. Accordingly, but at 7.1% compound interest, you will get an interest of Rs 2,90,913. That is, you will get a total of Rs 6,50,913 on maturity.

If you invest 3000 thousand rupees

If you deposit Rs 3000 every month in PPF, you will invest a total of Rs 36000 in a year. Rs 5,40,000 will be deposited in 15 years and Rs 4,36,370 will be received as interest on it. When your scheme matures after 15 years, you will get Rs 9,76,370.

If you invest Rs 4000

Whereas, if you invest Rs 4000 every month in PPF, then your annual investment will be Rs 48000. Your total investment in 15 years will be Rs 7,20,000. You will get Rs 5,81,827 as interest on your investment at 7.1 per cent interest rate. Whereas on your maturity you will get Rs 13,01,827.

If an investment of Rs 5000?

If you deposit Rs 5000 every month in PPF then your total investment in one year will be Rs 60,000 and in 15 years your total investment will be Rs 9 lakh. Talking about the interest received on this, according to the current interest rate, Rs 7,27,284 will be received as interest. You will get Rs 16,27,284 on this plan maturity.

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The amount of investment in KVP will double

In the financial year 2023-24, from April 1, the government has increased the interest rate of Post Office Small Savings Scheme. Under this, the interest on Kisan Vikas Patra has been increased from 7.2% to 7.5% annually. That is, double returns will be available in less time than before. Explain that Kisan Vikas Patra (KVP) is a one-time investment scheme run by the Government of India. This scheme is available for investment in all post offices and big banks of the country.

Money will double in Kisan Vikas Patra

Investment amount: Rs 5 lakh
Interest per annum: 7.5%
Tenure: 115 months (9 years and 7 months)
Amount at maturity: Rs 10 lakh

Special features of KVP scheme

Kisan Vikas Patra Scheme (KVP Scheme) is specially made for the farmers. This will help the farmers to save their money on long term basis. The minimum investment in the scheme is Rs 1000. While there is no limit on the maximum investment. Any number of accounts can be opened under the scheme. Account Single and 3 adults together can open joint account. Nominee facility is also available in this. Children above 10 years of age can open KVP account in their own name. Parents can open the account on behalf of a minor or a person of unsound mind.

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If you are also looking for a safe investment option, then you can invest in the fixed deposit scheme of the post office. The special thing about this scheme is that the money invested in it is absolutely safe and also gives you good returns. You can invest in the post office for a period of 1 to 5 years. It is a small savings scheme which gives you very good returns.

You will get this much money on investment of one lakh

Let us tell you that under the Post Office Term Deposit Scheme, you can invest money for up to 5 years. On this you will get interest at the rate of about 6.7 percent per annum. That is, if a person opens an account by depositing Rs 1 lakh in term deposit for 5 years, then after 5 years he will get Rs 1,39,407 including interest. At the same time, the interest rate of post office term deposit on term issue of 1, 2 and 3 years is around 5.5 per cent.

These people can open account

Let us tell you that under the Post Office Term Deposit Scheme, you can open both single or joint accounts. Children below the age of 10 years can also open an account in this post office scheme under the supervision of parents or mentally challenged persons.

Will have to invest this much

You can start this account with Rs 1000. At the same time, you will also get tax exemption under Section 80C of Income Tax on 5-year term deposit scheme.

You get these benefits

In this post office scheme, you get the facility of nominee.

You can transfer it to any post office.

You can open it both single and joint.

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Government of India runs many schemes through the post office. Different types of schemes are currently available from children to senior citizens. These days the post office is giving more than 8% interest on many schemes. One of such special schemes is the Senior Citizen Savings Scheme.

Many advantages of the scheme

There are many benefits of Senior Citizen Savings Scheme. Under the scheme, investors not only get a safe option but also get attractive interest. At present, 8.2 percent interest is being received on this scheme annually. Get excellent returns on lump sum investment. Please tell that interest rates keep changing every year. Recently, the government had changed the interest rates of the schemes. Apart from this, investors also get the facility of tax exemption up to 1.5 lakh under Income Tax Act Section 80C. Also, it is very easy to get the account transferred from one branch to another.

This is the calculation

Under the scheme, investors get interest up to Rs 2 lakh for an investment of about Rs 5 lakh. For this, investors have to invest a lump sum of Rs 5 lakh for 5 years. At the time of maturity, a return of Rs 7,05,000 is received, of which Rs 2,05,000 is interest. Any Indian individual above the age of 60 years can avail the benefits of the scheme. This scheme is available for citizens taking VRS.

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You have to invest in PPF for a minimum of 15 years. This is a scheme made by the government on the lines of Provident Fund. Any job seeker, businessman, working women, housewife, children can also invest in this scheme. This plan helps in building a huge corpus after retirement.

Investment in PPF has to be done for 15 years

Investment in PPF is for 15 years, but that does not mean that you have to withdraw your money and close the PPF account. Doesn’t happen like this. You can extend this account of yours. You can extend this account for an additional period of 5-5 years. The period of the account is 15 years and after that you can extend it further for 5 years. You can invest in PPF for 15 years, 20 years, 25 years, 30 years etc.

These are the rules

However, if you keep your PPF account open for more than a year after maturity without making any deposits, you will not be allowed to make any additional deposits in subsequent years. You can withdraw money from your PPF account only once in a year. If you choose to increase it without depositing any money. For example you have Rs 20 lakh in your PPF account and it is active for 15 years. Then, you stop contributing and after two years it increases to Rs. 24.56 lakhs. If it gets interest at the rate of 7.10 percent.

This much interest is being received on PPF

The annual interest rate for PPF accounts is currently 7.1 per cent. You can invest a maximum of Rs 1.50 lakh annually in PPF.

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The bank is paying more than seven percent interest on fixed deposits of both these periods. Along with this, senior citizens will get an additional interest of 0.50 percent on the investment. However, this FD scheme is open for investment for a limited period of time.

Interest rate on Special FD

According to the bank, those investing in the Special Fixed Deposit Scheme with a tenure of 35 months or 2 years 11 months will get interest at the rate of 7.20 per cent. At the same time, the bank is offering interest at the rate of 7.25 percent on special FDs with a period of 55 months or 4 years and 7 months. HDFC Bank is offering interest ranging from three per cent to 7.25 per cent on its other term fixed deposits. The bank is offering a maximum interest rate of 7.25 per cent on fixed deposits with a tenure of 4 years, 7 months to 10 years.

FD interest calculation

According to the bank’s website, the current interest rates are applicable from May 29, 2023, on deposits of less than Rs 2 crore. Some time ago HDFC Bank has changed the interest rates of FDs of less than one year and 15 months and made it 6.6 percent. Usually, HDFC Bank gives between 3% and 7.10% on fixed deposits above Rs 2 crore for regular citizens.

HDFC Bank calculates interest based on the actual number of days in a year. If the deposit is in a leap and a non-leap year, interest is calculated based on the number of days. That is, there are 366 days in a leap year and 365 days in a non-leap year.

Fixed repo rate

In the last financial year, the Reserve Bank had increased the repo rate continuously. After this, banks also increased the interest rates to make their FD schemes attractive. In the current financial year, the Reserve Bank has not yet increased the repo rate in any way. Repo rate is the rate at which the Reserve Bank lends to other banks.

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Post Office FD is also called Time Deposit. You can deposit money in post office time deposit for 1,2,3 and up to 5 years. At present, if you invest money in the post office time deposit scheme for 5 years, then you will get interest at the rate of 7.5 percent.

Suppose you invest Rs 5,00,000 in post office FD, then after 5 years at 7.5%, you will get Rs 2,24,974 as interest on it. Including principal and interest on maturity, a total of Rs 7,24,974 will be received.

But if you want to double this amount, then you do not have to withdraw this amount after maturity, but you have to fix it again for 5 years. After 5 years, according to the current interest rate, interest of Rs 3,26,201 will be added on this. In this way, you will get Rs 5,51,175 only as interest on an investment of Rs 5 lakh and after 10 years you will get a total of Rs 10,51,175.

This is the current interest rate according to the year

Fixed for 1 year – 6.8%
Fixed for 2 years – 6.9%
Fixed for 3 years – 7.0%
Fixed for 5 years – 7.5%

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This is such a scheme of the government, in which the investors get a fund of lakhs of rupees at once. Today we will tell you how you will get full 42 lakh rupees in PPF scheme. Yes… Along with government guarantee, money security is also available in this. Public Provident Fund is a best option.

PPF is the best option for investment

PPF Scheme is the best option to invest money according to long term. You can invest up to Rs 1.5 lakh in it every year. In this you get the facility of compounding interest. Along with this, the ups and downs of the market do not have any effect on such government schemes.

How to get 42 lakh rupees

if you invest 5000 rupees every month in PPF scheme. So your investment for the whole year will be Rs.60,000. If you invest it for 15 years, then your money on maturity will be 16,27,284. If you extend the deposit for the next 10 years in a term of 5-5 years, then after 25 years your fund will be around 42 lakhs (Rs 41,57,566). In this your contribution will be Rs 15,12,500 and interest income will be Rs 26,45,066.

Where can you open an account?

You can start investing in the Public Provident Fund scheme with a minimum of Rs 500. You can open it from your nearest post office or bank anywhere. From January 1, 2023 onwards, the government is giving the benefit of interest at the rate of 7.1 per cent in this scheme and the maturity of the PPF scheme is in 15 years.

There is also a chance to increase it in the block.

In this scheme, account holders can apply to increase it in blocks of 5-5 years. In this, he also gets the option of continuing the contribution or not.

You can also apply for loan, you also get the benefit of tax exemption in PPF scheme. In this scheme, you can take advantage of tax exemption under section 80C. The amount earned through interest in this scheme is also tax free. After completion of 5 years in this scheme, you can also apply for a loan.

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This is a very good scheme to create retirement fund. The interest rates in this scheme have also been increased to 8.2% for this quarter.

Important things about Senior Citizens Savings Schemes that you should know

By investing in this scheme, you get regular income. Being a government scheme, you get guaranteed returns on it. You can invest up to 30 lakhs in this for a tenure of 5 years. This scheme can also be extended for the next 3 years. Along with this, you also get tax exemption on this under section 80C of the Income Tax Act. However, tax will have to be paid on the interest earned on it. Also, if the return is more than Rs 50,000, then TDS is applicable on the interest.

How much will be the return on investment of 5, 10 and 15 lakhs for 5 years?

1. How much will be the return on investment of five lakhs?

Investment – 5 lakh
Tenure – 5 years
Interest rate – 8.2%

Return on interest

Monthly – 3,416
Quarterly – 10,250
Yearly – 41,000

Earning on interest in 5 years – 2,05,000
Total return – 7,05,000

2. How much will be the return on investment of 10 lakhs?

Investment – 10 lakh
Tenure – 5 years
Interest rate – 8.2%

Return on interest

Monthly – 6,833
Quarterly – 20,500
Yearly – 82,000

Earning on interest in 5 years – 4,10,000
Total return – 14,10,000

3. What will be the return on investment of 15 lakhs?

Investment – 15 lakh
Tenure – 5 years
Interest rate – 8.2%

return on interest

Monthly – 10,250
Quarterly – 30,750
Yearly – 1,23,000

Earning on interest in 5 years – 6,15,000
Total return – 21,15,000

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But being a government unit, you also get that security here. The post office had increased the interest rates on many of its schemes last month, due to which investors are going to get even higher returns. Post Office Time Deposit Scheme is also included in that scheme. It is also called National Savings Time Deposit Account in the post office.

Can earn guaranteed return

The option of investing in the Post Office Time Deposit Scheme from 1 year to 5 years is open. Just like banks get fixed returns in FD, similarly you can earn guaranteed returns in post office time deposit scheme. In this, you can invest for 1, 2, 3 and 5 years, which have different interest rates. Maximum interest is 7.5%. Interest is calculated on a quarterly basis, which comes annually in your account. You also get tax exemption under 80C on investment of 5 years. There is also no limit on the maximum investment in this.

For what period is the return?

Post Office Time Deposit Calculator 2023

Suppose you are investing Rs 5 lakh for 5 years, then you will get a return at the rate of 7.5%. Your total maturity amount will be Rs 7,24,149. And you will earn Rs 2,24,149 only from interest.

Who can take advantage?

Any Indian citizen can invest in the post office time deposit account. In this, single account, joint account (3 people together), on behalf of the minor, his parents or guardian can open the account. If the minor is above 10 years of age, then he can also open an account under this scheme in his own name.

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You hardly want to miss such an opportunity. After reading this, you might also be thinking that where to invest the money, then let us tell you that we are talking about SBI ATM Franchise.

ATM installation work is done on contract

You might be thinking that the bank itself installs the ATM. But it is not so, in fact, the work of ATM installation is completed on the bank contract. Only the contractors of the bank get this work done at different locations. State Bank of India has tied up with Tata Indicash, Muthoot ATM and India One ATM for ATM installation.

Apply through the official website

If you also want to apply for SBI ATM Franchise, then you will have to visit the official website of the above mentioned companies. It is necessary to be vigilant in this work, you should submit any application only through the official website because many cases of fraud have come to the fore in this work.

Application condition for SBI ATM Franchise

You must have 50 to 80 square feet of space for the ATM cabin. Also, it should be at a distance of about 100 meters from another ATM. Also, this place should be at such a place where people can see it easily. There should be proper arrangement of light here and 1KW electricity connection is also necessary. It is necessary to have a cabin, concrete roof and cement walls. If your place is in any society or under any authority, then you will have to take NOC from there.

Required Documents

Aadhaar, PAN Card and Voter ID
Ration Card, Electricity Bill
Bank Account and Pass Book
Photograph, E-mail ID and Phone Number
GST Number
Financial documents sought by the company

Earnings from ATM Franchise

You will have to make a security deposit of Rs 2 lakh and working capital of Rs 3 lakh will be required to start ATM franchise. After making this investment, the bank will earn you Rs.8 for every cash transaction and Rs.2 for every non-cash transaction like balance check and fund transfer etc.

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Especially Post Office Saving Schemes provide better options for savings and investment to the people, that is why they are liked a lot. Now a major change has been made in the rules related to investment in these schemes. These changes are for post office schemes.

Department of Posts issued circular

The Department of Posts has recently issued a circular in this regard. In a circular issued this week, the Department of Posts has changed the KYC i.e. ‘know your customer’ provisions for investors investing in small savings schemes. Under the changes, the provisions have been made difficult for those who invest heavily in post office schemes.

Proof will have to be given along with KYC

Now if an investor invests Rs 10 lakh or more in post office schemes, then he will also have to provide income proof in the form of KYC documents. Regarding this, the Department of Posts has asked all the post offices to take proof of earnings from a certain category of investors of small savings schemes. This change has been made to prevent terror finance on money laundering. Now in these cases, along with PAN and Aadhaar, investors will also have to provide income proof.

Investors are divided into 3 categories

In the circular, the postal department has divided the investors into 3 categories. Investors are divided into categories on the basis of risk appetite. If an investor opens an account in any scheme with Rs 50,000 and his balance in all post office schemes does not exceed Rs 50,000, then he will be considered a low-risk investor.

Strict rules on high risk category

Similarly, customers opening accounts with an amount of more than Rs 50,000 but less than Rs 10 lakh will be placed in the medium risk category. Even if the balance of all the schemes together is less than Rs 10 lakh but is more than Rs 50 thousand, it will be kept in the middle category. At the same time, as soon as the amount is 10 lakhs or more, the concerned customer will be considered in high risk category and strict provisions will be applicable on them.

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It offers an annual interest rate of 7.1%. After maturity of 15 years, you will get tremendous returns on it. Anyway, the post office offers many types of saving schemes. Under this, you are given a safe and guaranteed return.

If you deposit your money under the PPF scheme in the post office, then under 80C you also get a tax deduction of up to Rs 1.5 lakh. Along with this, there will be no tax on interest income. In this scheme, you can deposit the deposit amount either in lump sum or in installments. If you deposit 5000 rupees every month under Post Office PPF, then you invest 60000 rupees in a year.

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In this context, you deposit a total of 9 lakh rupees for 15 years. Adding interest of 7.1% per annum on this, then the investment amount will increase to Rs 16,27,284 on maturity of 15 years. That is, during the period of 15 years, Rs 7,27,284 was earned from interest. There is a facility to extend this account further in the bracket of 5-5 years after maturity. Security is guaranteed on every penny you deposit in the post office.

The post Post Office brought great Plan: Deposit ₹ 5000 per month in post office, after 15 years you will get more than ₹ 16.27 lakh first appeared on Rightsofemployees.com.

Such people deposit a fixed amount every month in the RD scheme and on maturity they get the total amount along with interest.

Apart from the bank, you also get the option of RD in the post office. The biggest advantage of RD (Post Office RD) in the post office is that you can start it from 100 rupees also. Those who are not able to save money, they can also withdraw minimum 100 rupees per month. At present, interest is being received at the rate of 6.2 percent on post office RD. Let us tell you how much can be earned through interest on RD of Rs 100 every month in the post office.

How much profit on depositing 100 rupees every month?

RD scheme is started in the post office for 5 years i.e. if you start investing in the scheme once, then you will have to invest continuously for five years. In this case, if you deposit Rs 100 every month in the post office, then you will deposit Rs 1200 annually and invest a total of Rs 6000 in 5 years. In this case, according to 6.2 percent interest, you will get Rs 1043 as interest only. In this case, after five years, you will get the invested amount of Rs.6000 including interest, that is, you will get Rs.7043.

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Benefits of Post Office RD

– Post Office RD can be opened with Rs 100, this is such an amount that anyone can save easily. There is no maximum investment limit in this.

You get the benefit of compounding interest on post office RD. Interest is calculated quarterly. In such a situation, in the form of interest, you get a lot of profit in 5 years.

Any number of accounts a person can open in the Post Office Recurring Deposit Scheme. In this, apart from single, joint account can be opened for up to 3 persons. There is a facility to open an account in the name of the child as well.

– The maturity of RD account is 5 years. But, pre-mature closure can be done after 3 years. It also has the facility of nomination. At the same time, after maturity, RD account can be continued for further 5 years.

Loan facility can also be availed if needed on post office RD. After depositing 12 installments, a loan can be taken up to 50% of the amount deposited in the account.

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WhiteOak Capital Mutual Fund has announced its New Fund Offer (NFO) – ‘ WhiteOak Capital Multi Asset Allocation Fund’. ‘ announced the launch of NFO will be open from 3rd May to 10th May 2023. It will invest money in equity ie stock market and its related products, debt and money market and gold / silver related products. This is an open ended scheme.

There is continuous upheaval in the global market. War and many other major issues have affected the stock market, commodity market and bonds. In such a situation, investors should diversify their portfolio. This makes the returns even better.

Where will be the investment

-15% to 45% (net) for home equity*
-10% to 55% towards fixed income
– 10% to 40% towards gold
-0 to 10% for foreign equity.

Domestic equity in excess of 35% to 45%, including arbitrage positions (hedged + unhedged).^ As per prevailing tax laws (with effect from 1st April 2023). Investors are requested to consult their financial advisor to understand the individual nature of tax implications.

The scheme will be benchmarked against S&P BSE 500 TRI (40%) + CRISIL Composite Bond Index (40%) + Domestic Gold prices (10%) + Domestic Silver prices (10%).
To understand the market behaviour, let us look at the returns given by different allocation classes in the just ended calendar year 22, gold was the top performer with a gain of 13.9% followed by Indian equities at 5.7%.

Other asset classes like liquid funds gave 5.1% returns, while real estate gave 2.8%, debt 2.5%. While foreign equity gave negative returns in terms of INR in major markets like US Equity (S&P 500) -9.1%, MSCI DM -9.1%, MSCI EM -11.3% and Nasdaq -25.1%.

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You can become a millionaire even by saving just 10 rupees every day. For this you just need to know the right formula of investment. If you invest wisely, you will build up a very substantial bank balance. You have to save ten rupees daily from your salary or income. Focus on right investment, planning, strategy and target can fulfill your wish.

This is how you will become a millionaire by saving 10 rupees

If you can save only 10 rupees daily then you can also become a millionaire. For this you just have to do the right planning. You can get strong returns by investing long term. If you save Rs 10 every day, you will save Rs 300 in a month. You have to invest these 300 rupees in Mutual Fund. Long term investment in mutual funds gives tremendous returns. In this you can get a return of 15 to 20 percent.

Start like this

You can invest this Rs 300 in Systematic Investment Plan ie SIP. You understand it this way, suppose you are 20 years old and you invest Rs 300 in SIP. You do this for 40 years. In this case, your total investment in SIP will be Rs 2,40,000. Now suppose you get 15% return on it. In this case, if you keep getting 15% return, then in 40 years your estimated return will reach Rs 1,54,61,878 and the total value will reach Rs 1,57,01,878. You will easily become a millionaire.

Investing in SIP is easy

Mutual funds SIP. Investing here is very easy. There are many options in mutual funds according to the risk capacity and tenure of different people. The most important thing is that you do not have to invest any huge amount at once.

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The company has announced an interest rate of 9.15 percent while offering higher interest rates to investors. Interest rates on Special Unnati Jubilee FD will be effective from 5 April 2023.

Investors are being given the opportunity to invest for a period of 50 months on Shriram Finance’s new special Unnati Jubilee Fixed Deposit Scheme. In this scheme, the highest interest rate of up to 9.15 percent per annum is being given to women senior citizens. The finance company has said that the 48-month investment scheme is closing on April 15, 2023. Whereas, till March 9, 2023, no change has been made in other schemes.

Benefits of Shriram Finance FD Schemes

• Women investors will get an additional interest rate of 0.10 percent per annum.
• Senior citizens will get 0.50 percent additional interest annually.
• Senior citizen women will get 0.60 percent additional interest annually.
• All FD tenures are available for investment both offline and online.

Higher interest rate to senior citizens and women
Shriram Finance explained by giving an example that suppose someone offers a maximum annual interest rate of 8.5% on a deposit of 60 months. On this, senior citizens will get an additional .50 percent more interest, while elderly women will get a maximum interest rate of 0.10 percent to 0.25 percent.

How to apply for Shriram Finance Fixed Deposit

1. Register using mobile number
2. Invest by entering PAN details
3. Enter FD tenure, KYC and bank details and complete your payment.
4. Get FD receipts and maximize your returns.

The post FD Interest Rate: Unnati Jubilee FD scheme launched, getting 9.15% interest on investment in low tenure first appeared on Rightsofemployees.com.

The last date for investing in the Golden Year FD scheme was April 7, but seeing the interest of the investors in the scheme, the bank has extended it for 7 months. Now investors will be able to invest in this special FD till 31 October 2023. Being the most popular FD saving scheme among customers, the bank has extended the deadline for this FD scheme several times since the year 2020.

ICICI launched Golden Years FD for senior citizens in the year 2020. On investing in this fixed deposit scheme, the bank gives the highest rate of interest of 7.5 per cent. The bank has said that to motivate senior citizens to invest and to give more returns, the investment deadline in Golden Years FD Extend is being extended. Please tell that since September 2020, the bank has extended the deadline for investment in this FD several times.

Benefits of Golden Years FD

ICICI Bank offers 0.10 per cent to 0.50 per cent higher interest rate per annum as compared to other FDs on ICICI Bank Golden Years Fixed Deposit (ICICI Golden Years FD Scheme). The tenure of investment on Golden Years FD is 5 years to 10 years.

• An amount less than Rs 2 crore can be invested in the Golden Years Special FD.
• Investing customers can take a loan of up to 90 percent of the principal and interest earned on their FD.
• Against this FD, the investor can apply for a credit card from the bank.
• The bank offers premature withdrawal facility to the customers on this FD. If the amount of the scheme is withdrawn on or after 5 years and 1 day, then 1.00 percent penalty is applicable under March 2023.

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If the contribution is deposited in the PPF account after April 5 for this financial year, then the account holders will be able to earn less interest than the PPF balance. Explain that investing in PPF account before April 5 will help you earn more tax free interest.

As per the rules of the PPF scheme, the interest on the deposit amount is calculated on the basis of the lowest balance in the PPF account at the end of the month on the fifth day of the month. Therefore, if a person is making a lump sum investment, then he should ensure that the PPF contribution is deposited in the PPF account by April 5.

Let us understand from the example that how much interest will be earned on the PPF account if the lump sum amount is deposited before 5th April. Suppose a person opens a PPF account and invests Rs 1.5 lakh in it on 4th April. The amount is deposited before 5th April. The minimum account balance amount of Rs 1.5 lakh between the fifth day and the end of the month will be used for interest calculation. That is, he will get the interest rate on the amount of 1.5 lakhs.

The interest on PPF account is reviewed every quarter. Here in the example, the annual interest rate has been considered as 7.1 percent. Therefore, the person investing will get an interest of Rs 10,650 on a deposit of Rs 1.5 lakh. On the other hand, if the amount is deposited in the PPF account after April 5, then the person will not get the interest for the first month. For the financial year 2023-24 the person will earn interest only for 11 months. It will be Rs 9,762.50 or Rs 9,763 for a deposit of Rs 1.5 lakh.

The PPF scheme comes with a lock-in period of 15 years. Therefore, PPF investment of Rs 1.5 lakh made between April 1 and April 5 in every financial year will fetch an interest of Rs 18,18,209 and a maturity amount of Rs 40,68,209.

If a person makes a PPF investment of Rs 12,500 before the 5th of every month, then the person will get the maturity amount of Rs 39,44,599. A person will earn an additional interest of Rs 1,23,610 by making a lump sum investment in a PPF account between April 1 and April 5 of a financial year.

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Under this scheme, up to 7.60 percent interest is being offered to senior citizens. The bank started this special FD scheme on 15 February 2023. It has been named Amrit Kalash Scheme. This 400 days FD. Let us know everything about this scheme.

This FD is for 400 days

According to the data available on the SBI website, the special fixed deposit scheme known as Amrit Kalash (SBI Special FD Amrit Kalash) is of 400 days. The interest rate for individuals is 7.10 per cent, while for senior citizens the interest rate is 7.60 per cent. This interest rate is more than the special V-Care scheme of the bank. The tenure of SBI We-care Fixed Deposit is 5-10 years. In this, the interest rate for individual is 6.50 percent and for senior citizens, it is 7.50 percent.

Will get interest of 43 thousand rupees

According to SBI FD Calculator, if a senior citizen invests Rs 5 lakh in Amrit Kalash Scheme (SBI Amrit Kalash Scheme), then after 400 days he will get a total of Rs 5 lakh 43 thousand 2. Meaning, after a little more than a year, he will get 43 thousand rupees only as interest. Explain that the interest is calculated on the basis of quarterly compounding.

This facility till 31 March

State Bank last changed the interest on General Fixed Deposit (SBI Fixed Deposit Rates) on 15 February. The bank is offering minimum 3 percent and maximum 7 percent interest to the general public. The minimum interest rate for senior citizens is 3.50 percent and the maximum interest rate is 7.50 percent.

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But they back down because they are at risk of losing their money. If you are also one of them, then you can invest in the Kisan Vikas Patra Scheme (KVP) of the post office. Kisan Vikas Patra (KVP) scheme is best for long term investment. In this, your deposited money will always be completely safe. Also, KVV claims its customers to double the amount deposited under this scheme in 10 years and 4 months (124 months). Let us know about this scheme of the post office.

What is Kisan Vikas Patra Yojana?

The duration of this scheme is 124 months i.e. 10 years 4 months. If you have invested in this scheme from 1 April 2021 to 30 June 2021, then the lump sum amount deposited on your behalf doubles in 10 years and 4 months. On Kisan Vikas Patra, you get compound interest of 6.9% per annum. (Post Office Savings Scheme) Investment is made in the form of certificate in Kisan Vikas Patra (KVP). There are certificates up to Rs 1000, Rs 5000, Rs 10,000 and Rs 50,000, which can be bought.

Who can open an account in KVP?

Under this, any Indian person whose age is more than 18 years can open his account in it. However, no upper age limit has been prescribed for opening an account. But under this, KVP certificate can also be bought in the name of a minor. NRI is not eligible for this scheme.

Investment limit in Kisan Vikas Patra

You can buy Kisan Vikas Patra Certificate with a minimum investment of Rs 1,000, there is no maximum investment limit in this scheme, that is, you can put money in this scheme as much as you want. This scheme was started in 1988, then its objective was to double the investment of farmers, but now it has been opened for all. Now it can be said that Kisan Vikas Patra has nothing to do with the farmers at present.

PAN-Aadhaar will have to be given to open an account

There is also a risk of money laundering since there is no investment limit, so in 2014 the government made PAN card mandatory for investments above Rs 50,000. If investing 10 lakh or more, then income proof will also have to be submitted, such as ITR, salary slip and bank statement. Apart from this, Aadhaar also has to be given as an identity card.

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This scheme has been created with the aim of giving pension benefits to the elderly. In this scheme, the amount of pension is given to the elderly according to their investment. Through this scheme, any senior citizen can get a pension of up to Rs 9,250.

If you also want to take advantage of this scheme, then you have very little time left for the application. You can get the chance to apply in this only till March 31, 2023. After this, even if you want, you will not be able to take advantage of this scheme. Know here the special things related to this scheme.

investment based pension

Under Pradhan Mantri Vaya Vandana Yojana, a minimum monthly pension of Rs 1000 and a maximum of Rs 9250 can be taken. How much pension you will get depends on your investment. A maximum of Rs 15 lakh can be invested in the scheme. If you invest Rs 1.50 lakh, then you are given Rs 1000 monthly as pension, whereas if you invest Rs 15 lakh, you get Rs 9,250 as pension. If both husband and wife together invest Rs 15 lakh each, then you can get up to Rs 18,500.

Calculation of pension of Rs 18,500

At present, in PMVVY, senior citizens get interest at the rate of 7.4 percent. If you invest Rs 15 lakh in this scheme, then you will get a total of Rs 1,11,000 according to the annual interest of 7.4 percent. If you divide this amount in 12 parts, then a total of Rs 9,250 will be made. In this way you will get Rs 9,250 as pension every month. On the other hand, if husband and wife invest Rs 15 lakh each i.e. a total of Rs 30 lakh, then both will get Rs 9,250 separately i.e. a total of Rs 18,500 as pension.

Pension benefits for 10 years

Any person 60 years or older can invest in Pradhan Mantri Vaya Vandana Yojana. After investing, you can take advantage of pension for 10 years. The invested amount is returned along with the final payment of pension after 10 years. But if you want, you can surrender anytime before 10 years after the start of this scheme. In this, you are also given the option of monthly, quarterly, half-yearly and annually to get pension. You can choose this option of your own free will.

Application system

To apply for the scheme, one has to apply by visiting the official website of LIC. If you want, you can also apply offline. The first installment of pension will be received after one month, three months, six months or one year of your investment. It depends on which option you have chosen for pension, monthly, quarterly, half yearly or yearly.

The post Big Update for Senior Citizens ! ₹ 9,250 monthly pension will not be able to take advantage of this scheme after March 31, know the details first appeared on Rightsofemployees.com.

Through this service, customers can get interest on investment, block ATM card, issue new cards and get information about PPF, NSC etc. This service will help lakhs of people in rural areas of the country. They will be able to easily get the necessary information through their mobile number.

Issued toll free number

India Post has also issued a toll free number to avail this service. Now from here you can get detailed information about PPF, NSC, Sukanya Samriddhi or other schemes through IVR. For this, the customer has to call India Post’s toll free number 18002666868 from his registered mobile number.

Savings account holders can also use

Customers having savings account with the post office department can also avail the IVR service. In this they will get all the options. Customers will get information in both Hindi and English languages. From here customers will get account balance information. For this, they have to press the number five. You have to press 6 to block the card. After this you have to enter the card number. After this the account number has to be given.

Can also be used for ATM

3 is to be pressed for ATM information. For new ATM you have to press 2. To change the PIN of the card, you have to press. Hash (#) to repeat options and star for previous menu. For more information on poster saving products you must press 4.

What is IVR service?

Interactive voice response is a telephone system with voice commands. Through this, customers interact. It is used in banks and many other customer service. In this, the answers to the questions of the customers are available on the phone itself and there is no need to go to the branch.

The post Post Office Start New Service: Post office started new service for PPF, NSC, SSY and other post office schemes, see new service benefits first appeared on Rightsofemployees.com.

The government has implemented a scheme for your daughter, so that you can be completely free from the worry of your daughter’s education and marriage. The name of this scheme is Sukanya Samriddhi Yojana. In this scheme you will get 65 lakh rupees on the investment of only 250 rupees. You also get the benefit of compounding in this plan. Let us tell you. about this scheme.

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana is a scheme made by the government, this scheme is specially designed for your beloved daughter, in which you can secure the future of your daughter, in this scheme you can open an account with a small amount, in this scheme you By opening an account, you can deposit money little by little in the name of your daughter.

Who can apply

In Sukanya Samriddhi Yojana, the account of a girl child below the age of 10 years can be opened by her parents. In this, you can open an account with an investment of only Rs.250. You can open an account in any bank or post office. In this, you get interest at the rate of 7.6 percent. Only one account can be opened in the name of a girl child. Only 2 girl child accounts can be opened in a household, more than 2 accounts can be opened in twin/triple girl child.

How much interest is being received

The government decides the interest to be received on Sukanya Samriddhi Yojana. In this you get 7.6 percent interest. In this scheme, you can deposit up to a maximum of Rs 1.50 lakh. You can withdraw money from the account only after the daughter completes 18 years or passes 10th standard. In this, you also get exemption in income tax.

How to get 65 lakh rupees If you invest 250 rupees daily in this scheme, then you deposit 12,500 rupees in a month and in a year you invest 22.50 lakh rupees. After 15 years i.e. at the age of 21 years of your daughter’s maturity, you will get 65 lakh rupees. In this, you will get interest of about Rs 41.15 lakh.

Required documents for Sukanya Samriddhi Yojana

1. Identity card of mother and father
2. Aadhaar card of daughter
3. Bank account passbook opened in the name of daughter
4. Passport size photo of daughter
5. Mobile number

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Let us tell you that this policy can be taken for a period of 5 to 15 years. Its special thing is that the loan facility is also available to the policyholder in this policy. On the other hand, in case of death of the policyholder during the policy term, the death benefit is given to his family.

Know what are its benefits

Many special benefits are available under LIC Dhan Sanchay policy. These include taking money in lump sum or in installments for 5 years in death benefit option. Apart from this, maturity benefit also includes guaranteed income and terminal benefit. If the policyholder passes away during the payout period, the nominee continues to receive the income.

Four options are available for investment

You get a total of 4 options for investment in LIC’s wealth accumulation policy. They are named A, B, C and D. In this, the sum insured in option A and B is at least Rs 3 lakh 30 thousand. In Option C, you get at least Rs 2 lakh 50 thousand and in Option D, you get an insurance opportunity of Rs 22 lakh.

Age limit for investment:

The minimum age for investing in LIC’s Dhan Sanchaan policy is 3 years. While its maximum age limit can change according to different options. For example in A and B option the maximum age limit for this policy is 50 years. At the same time, the maximum age limit for investment under Option C is 65 years while under Option D this limit is 40 years.

The annual premium will come to this much, let us tell you that if you want to invest in LIC’s money saving policy, then you can choose the policy term for 5, 10 or 15 years. You will get returns according to the number of years you choose the plan. Please tell that under this policy, you will have to pay a premium of at least Rs 30,000 annually. On the other hand, if the policyholder dies, the nominee gets a minimum death benefit of Rs 2.50 lakh and a maximum of Rs 22 lakh.

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Till these days interest is also getting strong on getting FD. Whether it is a bank or a post office, the return on investment is good everywhere. If you also want to invest in fixed deposits, then Time Deposit Scheme (Post Office TD Account) is a great option. Deposit Rs 1 lakh in lump sum and forget it for 5 years. Not only will you get strong returns on maturity, you can also claim tax exemption under section 80C of the Income Tax Act on time deposits of 5 years.

Get guaranteed return

There is a time deposit scheme for Fixed Deposit in the post office. In this, the option of investing from 1 year to 5 years is open. Just like banks get fixed returns in FD, similarly you can earn guaranteed returns in post office time deposit scheme. It is also called National Savings Time Deposit Account in the post office. At present, a guaranteed return of 7% is available. You can take advantage of this till 31 March 2023. After this, the government can review and revise the interest.

For what period is the return?

How much money will be received by investing 1 lakh rupees?

At present, 7% interest is being received on investment in Post Office’s 5-year time deposit. If you invest Rs 1 lakh in this scheme together, then you will get a total of Rs 1,41,478 on maturity. In this, Rs 41,478 will be earned only from interest.

Who can take advantage?

Any Indian citizen can invest in the post office time deposit account. In this, single account, joint account (3 people together), on behalf of the minor, his parents or guardian can open the account. If the minor is above 10 years of age, then he can also open an account under this scheme in his own name.

The post Great Post Office Deposit Plan: Bumper returns on maturity on FD of ₹ 1 lakh for 5 years in the post office first appeared on Rightsofemployees.com.

The government is running Sukanya Samriddhi Yojana for daughters . By investing in this scheme, parents can secure the future of their daughters. How to take advantage of it Sukanya Samriddhi Yojana is such a long term plan. By investing in this, you can add money from your daughter’s educaation to marriage expenses. Under Sukanya Samriddhi Yojana, the account of daughters below the age of 10 years is opened in the name of their parents only.

Under this scheme, you can invest from Rs 250 to Rs 1.50 annually. How many daughters will open an account from a family, earlier in this scheme, only two daughters’ account was exempted from tax under 80C. But now it has changed and under the rule, if two twin daughters are born after one daughter, then their account will also get tax exemption.

When can accounts be closed?

The account opened under Sukanya Samriddhi Yojana could be closed in the first two circumstances. If the girl child dies or if the address of the daughter’s residence is changed, then this account could be closed. But after the new change, the life-threatening illness of the account holder has also been included in it. The account opened under Sukanya Samriddhi Scheme can be closed prematurely even after the death of the parents.

How to open account?

To take advantage of this scheme, you can open an account by visiting any nearest post office or bank. Sukanya Samriddhi Yojana matures in 21 years. However, after the girl’s age is 18 years, money can be withdrawn from this account for studies. Full amount is available only after 21 years.

Documents required for Sukanya Samriddhi Yojana-

At the time of opening the account under Sukanya Samriddhi Yojana, it is necessary to give the girl’s birth certificate in the post office or bank. Also, the identity card and address proof of the girl and her parents are required.

How will the amount be deposited in the account?

The amount invested in the Sukanya Samriddhi Yojana account can also be deposited in cash, cheque, demand draft or in any such manner as the bank accepts.

How much interest will you get on investment?

At present, interest is getting at the rate of 7.6% on investment in Sukanya Samriddhi Yojana. Under this scheme, by investing a small amount, you can add lakhs of rupees. Sukanya Samriddhi Yojana is getting more interest than all the savings schemes of the bank or post office.

If you invest up to Rs 1000 every month under this scheme, then according to 7.6% interest rate, you will get an amount of more than Rs 10 lakh like this.
• Deposited in 1 month – Rs 1000
• Total deposit in 12 months Rs -12000
• Deposit up to 15 years – Rs -18,0000
• Total interest on deposit up to 21 years + Total deposit – Rs 329,212
• On attaining 21 years But after adding the total deposit + total interest, the money will be returned – Rs 10,18,425
• In this way, when your daughter is 21 years old, then lakhs of rupees will be deposited in her name. When you want your daughter to get married, then you can easily withdraw this money.

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These banks include Small Finance Bank, Ujjivan Bank, Jana Small Finance Bank, Fincare Small Finance Bank, Utkarsh Bank and Suryoday Bank and many smaller banks that promise better returns.

Investment amount is insured in small banks

Small Finance Banks (SFBs) continue to offer highest interest rates ranging from 8 percent to 9 percent on Fixed Deposits (FD) to common citizens. Remember that deposits under small finance banks are also covered by Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance. Simply put, your FD deposits up to Rs 5 lakh are covered under the insurance scheme if the small finance bank fails or is placed under moratorium. So there is no loss of your money.

Fixed Deposit Rates of Unity Small Finance Bank

Unity Small Finance Bank is offering FDs of tenure ranging from 7 days to 10 years to its customers. The bank has increased the interest rates on FDs of all tenures from 15 February. Unity Small Finance Bank is paying 9.25% interest to senior citizens and 8.75% to general customers on 181-201 days and 501 days fixed deposits. Small Finance Bank is giving 9.00 percent interest rate to general customers on investment for 1001 days, while on the same tenure it has offered 9.50 percent interest rate to senior citizens.

Jana Small Finance Bank FD Rates

Jana Small Finance Bank offers interest rates between 3.75 percent and 8.10 percent to common citizens for FDs maturing between 7 days to 10 years. The interest rate for senior citizens on the same tenure ranges from 4.45 per cent to 8.80 per cent. The bank is offering the highest interest rate of 8.10 per cent (for general citizens) and 8.80 per cent (for senior citizens) on fixed deposits maturing between two years and three years.

Fincare Small Finance Bank FD Interest Rate

Fincare Small Finance Bank offers interest rates ranging from 3 percent to 8.11 percent for general customers and up to 8.71 percent for senior citizens investing on FDs maturing between 7 days and 10 years . Common citizens are given the highest interest rate of 8.11 percent on FDs maturing in 750 days. At the same time, for senior citizens, the interest on FD maturing in 750 days can go up to 8.71 per cent.

Ujjivan Small Finance Bank

Ujjivan Small Finance Bank gives interest rate between 3.75% to 8% to common citizens on FDs maturing between 7 days to 10 years. For common citizens, the highest interest rate on FD maturing in 560 days is 8 percent. At the same time, the bank offers the highest interest rate of 8.75 percent to senior citizens for investment on FDs maturing in 560 days.

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Regular customers and senior citizens of the bank can also invest in this FD scheme. If you are not a customer of Bank of India, then you will need to open an account.

What are the benefits of investing in FD

Banks have increased interest rates on fixed deposit schemes since the RBI increased the report in December. Because of this, along with senior citizens, a large number of young investors and parents are planning to invest in FDs for the better future of their children. Because there is no risk of money sinking in FD investment and there is a guarantee of getting profits. Along with this, investors can also take loan through FD.

Disadvantages or Premature Withdrawal Conditions in FD Investment There is no disadvantage in investing in Fixed Deposit Scheme of any bank. But, if the investor breaks the FD before the maturity time or makes premature withdrawal of the FD, then he has to pay a penalty in a certain percentage.

According to the terms of premature FD withdrawal of Bank of India-

1. There will be no penalty for premature withdrawal when the FD is being renewed for long term investment.
2. For deposits less than Rs 5 lakh, no penalty will have to be paid for withdrawal after 12 months.
3. Premature withdrawal before 12 months will attract a penalty of 0.50 per cent for deposits less than Rs 5 lakh.
4. Deposits of Rs.5 lakh or more will attract a penalty of 1.00 per cent for premature withdrawal.

Make a profit of about 1 lakh in 444 days

Bank of India is offering 7.05 percent interest rate to general customers on investment in 444 days FD, while 7.55 percent interest rate has been offered to senior citizens on the same tenure. If seniors invest Rs 10,00,000 for 444 days, they get a direct profit of around Rs 96,150. In this way, he gets a total return amount of Rs 10,96,150.

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After the repo rate hike by RBI from May 2022, banks are increasing lending as well as interest on fixed deposits. Hence, FD investors are happy to see higher returns on their deposits. With the increase in the repo rate, the interest rates are going up. Repo rate is the rate at which banks borrow money from the Reserve Bank of India (RBI).

RBI increased the interest rate

In view of rising inflation, the Reserve Bank has increased the repo rate by 25 basis points i.e. 0.25 percent on 8 February. After the new revision, the repo rate has increased to 6.5%. This was the sixth time that the Reserve Bank of India (RBI) has increased the repo rate. RBI has increased the repo rate by 2.50% since May last year.

Senior citizens are getting more interest on these banks

Bandhan Bank FD Rates for Senior Citizens

600 Days (1 Year, 7 Months, 22 Days) – 8.50%

Yes Bank FD Rates for Senior Citizens

Time – 35 Months, Interest Rate – 8.25%

Axis Bank FD Rates for Senior Citizens

2 Years < 30 Months – 8.01% IDFC First Bank FD Rate for Senior Citizens

More than 2 years 1 month to less than 2 years 6 months – 8.25%

Sunrise FD Rates for Senior Citizens

More than 1 year 6 months to 2 years – 8.51%

RBL Bank FD Rates for Senior Citizens

453 to 459 days (15 months) – 8.30%

DCB Bank FD Rates for Senior Citizens

18 months to less than 700 days – 8.00%

Equitas Small Finance Bank FD Rates for Senior Citizens

For 888 days – 8.5%

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In such a situation, which bank is getting the highest interest on an amount of less than Rs 2 crore for a period of 7 to 10 years? To understand this, we checked the FD rates of SBI, HDFC BANK, AXIS BANK, IDFC FIRST BANK and RBL BANK, which are higher than others in terms of interest offered.

In which bank is getting more interest?

Major banks of the country are offering up to 7.8% interest on FDs for a period of 7 days to 10 years. Now let us understand from the figures of returns in terms of investment of Rs 1 lakh, which bank is getting the highest interest?

• RBL Bank: For general customers, a minimum interest of up to 3.25% is being offered for a period of 7 days. While paying 7.80 percent interest annually for a period of up to 10 years. In this context, an investment of Rs 1 lakh will increase to Rs 2.16 lakh in a period of 10 years.
• IDFC FIRST BANK: For general customers, a minimum interest of up to 3.50 per cent is being offered for a period of 7 days. While paying 7.50 percent interest annually for a period of up to 10 years. The investment amount of Rs 1 lakh will increase to Rs 2.10 lakh on the calculation of maximum interest in a period of 10 years. 
• AXIS BANK: For general customers, a minimum interest of up to 3.50 per cent is being offered for a period of 7 days. While paying 7.26 percent interest annually for a period of up to 10 years. In terms of maximum period and interest, the investment of Rs 1 lakh will be Rs 2.05 lakh.  
• SBI: For general customers, a minimum interest of up to 3% is being offered for a period of 7 days. While paying 7.10 percent interest annually for a period of up to 10 years. If you invest Rs 1 lakh, then after 10 years at an annual interest rate of 7.10 percent, your amount will increase to Rs 2.02 lakh. 
• HDFC Bank: For general customers, for a period of 7 days, a minimum interest of up to 3 percent is being offered. While paying 7.10 percent interest annually for a period of up to 10 years. With an annual return of 7.1%, an investment of Rs 1 lakh will grow to Rs 2.02 lakh over a period of 10 years.

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Public sector bank Central Bank of India has increased interest rates to make its Fixed Deposits scheme attractive. The bank has increased the interest rates on fixed deposits of less than Rs 2 crore. Central Bank of India is offering interest ranging from 4% to 6.25% on FDs maturing in seven days to 10 years. At the same time, senior citizens are being given interest ranging from 4.50 per cent to 6.75 per cent on FD of the same period.

Interest on one year FD

The bank is offering a maximum interest rate of 6.75 percent to common people and 7.25 percent to senior citizens on FDs of more than one year and less than two years. The bank is offering 4 per cent interest on FDs maturing in seven to 14 days. FD maturing in 15 to 45 days will get interest at the rate of 4.50 per cent. The Central Bank of India is promising five percent interest on FDs of 91-179 days.

How much interest on 10 year FD?

The bank will pay interest at the rate of 5.50 per cent on deposits maturing in 180 to 364 days. The bank is offering an interest rate of 6.50 per cent on FDs of more than two years and less than three years. The bank is promising 6.25 per cent interest on deposits maturing in 3 years to 10 years. Apart from this, as an incentive, an additional interest of 0.50 percent per annum will be given on the deposits made by senior citizens above 60 years of age.

555 days special FD

Central Bank of India also runs special fixed deposit schemes of 444, 555 and 999 days. These schemes are available with callable and non-callable options. The bank is offering interest at the rate of seven per cent on deposits of 555 days and at the rate of 6.50 per cent on deposits of 999 days. While senior citizens will get interest at the rate of 7.50 percent and 7.00 percent respectively.

Repo rate has increased

The Reserve Bank of India has recently increased the repo rate by 25 basis points. Because of this loans have become expensive. However, the country’s private and public sector banks are increasing interest rates on fixed deposits. Private and government banks of the country are trying to make it more attractive by increasing the interest rates on FD.

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If your salary for February and March also gets deducted, then understand that the company has equalized the tax calculation on the basis of income tax rules. But if you do not come under the income tax net, and yet the tax has been deducted, then what is the option? Today we explain you the easy way. First of all, the employee has to give information about his investment i.e.

Investment Proof and HRA details to his company. Most of the companies ask their employees to submit Investment Proof Submission from the end of January to February. So that it can be submitted to the Income Tax Department after verification.

At the same time, most people in the country take steps to save tax in the last three months i.e. January, February and March. Especially by investing, people try to free themselves from tax liability. If your organization also had the last date for submission of investment proof till February, then what option is left now? You will also have this question in your mind. Now the last date for investment to save tax is March 31, then companies take the details so early, then how can they invest till March 31 and take advantage of income tax exemption.

Actually, according to the Income Tax rules, if you have submitted the Investment Proof for the financial year 2022-23 to your organization where you work, then there is nothing to panic. You can take advantage of tax exemption by investing till March 31. There are very easy ways for this.

Mention the investment till March 31 in ITR

According to the rule, if you want to take advantage of income tax exemption for the financial year 2022-23, then you can take advantage of it by investing till March 31 without worrying. Even if you have submitted investment proof and HRA documents related to income tax where you work. You can avail full exemption by investing till 31st March and filing ITR before 31st July. In which you can submit all investment documents including HRA, which is valid under income tax rules.

That is, being tension free, you can claim life insurance, PPF, NPS and medical insurance by 31st March, filing ITR on the basis of this document by 31st July. Not only this, if your salary is deducted due to tax in the months of February and March, then that amount will also be returned as soon as you claim it. Always consider March 31 as the deadline.

How to save tax money?

By investing under Section 80C of the Income Tax Act, you can deduct up to Rs 1,50,000 from your taxable income. These include amounts such as premium paid for life insurance policies, children’s school tuition fees, PPF, KVP, Sukanya Samriddhi Yojana, principal amount paid under the head of NSC home loan. Apart from this, by investing in NPS, you can get an additional benefit of 50 thousand rupees. Also, by purchasing medical insurance, you can take advantage of tax exemption.

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For example, you can start SIP with just Rs 500, increase the investment over time, pause the SIP if needed and start it again from there etc. Apart from this, despite being linked to the market, the risk in SIP is considered less and the returns are better.

Most experts believe that on an average up to 12 percent interest is available through SIP and sometimes this interest can be up to 15 and 20 percent. In this you get the benefit of compounding, in this case you can easily create wealth through SIP. The longer you run the SIP, the better you will benefit. If you are going to start SIP for the first time, then let us tell you how much return you will get in 5, 10, 15 and 20 years from a monthly SIP of Rs 1000.

5 year SIP

According to the SIP calculator, if you start a monthly SIP of Rs 1000, then in 5 years you will invest a total of Rs 60 thousand, but you will get a total of Rs 22,486 as interest and a total of Rs 82,486 as 12% return. . On the other hand, if the return is 15 percent, then a total of Rs 89,682 will be received with an interest of Rs 29,682.

10 year SIP

On the other hand, if this SIP is continued for 10 consecutive years, then the total investment will be Rs.1,20,000. At 12%, you will get Rs 1,12,339 as interest, which is almost equal to your investment. In this way after 10 years you will get a total of Rs 2,32,339.

15 year SIP

If the SIP of Rs 1000 is continued for 15 consecutive years, the total investment will be Rs 1,80,000. But with 12% compounding interest, you will get a total of Rs 3,24,576 as interest, which is much more than your investment. In this way after 15 years you will get a total of Rs 5,04,576.

20 year SIP

On the other hand, if you invest only Rs 1000 per month continuously through SIP for 20 years, then your total investment will be Rs 2,40,000. But as a 12 percent return, you will get a total of Rs 7,59,148, which is more than double your invested amount. In this way after 20 years you will get a total of Rs 9,99,148.

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This is the time when people also start investing in many investment tools in order to save tax. Under Section 80C of the Income Tax Act, you get Tax Deduction (Tax Benefit under 80C) on giving proof of your many investments, there is an advantage of investing in such, but there are many taxpayers, who invest due to their economic status. If they are unable to do so, how can they save tax?

It is a matter of relief that such taxpayers Means of saving tax have also been found for them, in which they do not need to invest separately to save tax (How to save tax with zero investment). They can get tax exemption even by showing some of their expenses, that too in a legal way.

Where will the tax be saved without investment? (Tax Saving Tools)

1. HRA or House Rent Allowance (Tax Deduction on HRA)

If you live in a rented house, then you have the most primary tool to save tax. A part of your salary goes towards renting accommodation. You get tax exemption on HRA under Section 10(13A) of Rule 2A of the Income Tax Act, 1961. In tax deduction, HRA is partially as well as fully tax exempt.

2. Education Loan (Tax Deduction on Education Loan)

Although you do not get tax exemption on loan, but you get exemption on education loan. Education loan provides coverage for your higher education expenses and loan repayments. Under section 80E of the IT Act, you get tax exemption on the interest paid on education loan (tax deduction on education loan interest). That is, you can claim tax exemption on the amount spent from your pocket to repay the loan installments. When you claim a deduction on the total interest payable, the same amount is reduced from your overall gross income. It gets less.

3. Home Loan (Tax Deduction on Home Loan)

You also get tax deduction on housing loan. You have to repay the principal amount along with interest on your loan, that too within the end of the loan tenure. Under Section 24(b) of the Income Tax Act, if you are repaying the loan for the house in which you are living, you can get a tax exemption of up to Rs 2 lakh.

On the other hand, if you buy an under-construction house property, you can claim tax exemption on it only after the completion of the construction work. On the other hand, if you have bought a fully constructed house, then you can claim tax deduction on home loan repayment immediately on the interest paid on the housing loan.

4. Tax Deduction on Children’s Tuition Fees, Education Allowance, and Hostel Allowance

If you have children, who are studying, then you can also claim tax deduction on some of their education expenses. You can claim exemption on your child’s tuition fees, hostel expenses, education allowance. Under Section 10 of the IT Act, you get the option to claim them. Let us tell you that you can claim a rebate of Rs 1,200 per annum on the expenses of children and Rs 3,600 per annum on hostel expenses of maximum two children.

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If you want to earn good returns while keeping your money safe, then you can invest in FD. Axis Bank of the private sector has now increased the interest on FDs.

Axis Bank has increased the interest on FDs of less than Rs 2 crore. The bank has taken this decision after the RBI increased the repo rate by 0.25 percent to 6.50 percent.

The increased interest rates on Axis Bank’s FD have come into effect from February 11, 2023 itself. The bank has increased the interest rate on FDs ranging from 7 days to 10 years.

Where the common people are getting interest ranging from 3.5 percent to 7 percent on FDs of different periods. On the other hand, this rate is available from 6 percent to 7.75 percent for senior citizens.

Axis Bank’s 2-year FD is getting the highest interest. It is 8.01 percent for senior citizens and 7.26 percent for the rest.

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Even in today’s time, post office is the best option for investment. In this, along with the security of money, you get a guaranteed return of 7 to 8 percent. Along with this, in many schemes, you can double the money in a few years.

National Savings Certificate

The interest rates have been increased by the government in the National Savings Certificate Scheme. In this, instead of 6.8 percent, you will get the benefit of 7 percent interest from now on. In this you also get the benefit of compounding interest and in this you will get very good returns. In this, you do not have to pay any tax on filling the money.

Senior Citizen Savings Scheme

Senior Citizen Savings Scheme is considered very good for post-retirement. At the age of 60, any citizen can invest in this scheme. Even within a month of retirement, you can deposit money till the age of 55 to 60 years. In this, an account can be opened with a minimum of Rs 1000. The maximum investment is Rs 15 lakh. Interest is given on a quarterly basis in this scheme. If you withdraw money after one year and close the account, then you will be given back the money with 1.5% and in this you get income tax rebate of up to 1.5%. In this you get up to 8 percent interest.

Sukanya Samriddhi Yojana

With the help of Sukanya Samriddhi Yojana, you can save from 1.27 lakh to 64 lakh for your girl child. If your daughter’s age is less than 10 years, then you can open an account for the daughter and for this the government gives you interest at the rate of 7.6 percent. In this you get tax exemption. Along with this, money also does not have to be deposited. From 50-100 rupees to 500-1000 or more than 1.5 lakh rupees, you can do as much as you want.

Public Provident Fund

Public Provident Fund In this schemes of the government, you can get better returns in your coming time. The government has started this for those people who want to get the benefit of provident fund even without a job. It is considered a safe investment option because by investing in it you get a government guarantee and you get 7.1 percent interest in it.

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This is good news for senior citizens. But, it seems that on the one hand the government has increased the investment limit in SCSS and on the other hand it has ended the investment opportunity in the scheme. The government has not announced the continuation of Pradhan Mantri Vaya Vandana Yojana ( PMVVY ). The scheme will close on March 31, 2023.

Government has given from one hand and taken from the other.

PMVVY is a government scheme for retired people. Investing up to Rs 15 lakh in this can earn almost tax-free returns. If the government does not issue a notification to continue this scheme, it means that you will not be able to invest in this scheme after March 31, 2023. It seems that the government has cleared the way for senior citizens to increase investment in SCSS on the one hand and has closed the way for investment in PMVVY on the other.

Investor benefits from allowing more investment in SCSS

Experts say that even if the government has given something with one hand and taken it with the other hand, it is beneficial for the investors (senior citizens). Let us understand how it is beneficial. The interest rate in Senior Citizens Savings Scheme (SCSS) is 8% per annum. In comparison, the annual return in PMVVY is 7.4 per cent. Interest is paid quarterly in SCSS. PMVVY has a monthly interest payment option. One can invest in SCSS only for five years. But, there is a chance to invest in PMVVY for 10 years.

SCSS is more attractive than PMVVY

But, in terms of tax, SCSS is more beneficial for senior citizens. Under Section 80C of the Income Tax Act, 1961, tax deduction can be availed by investing Rs 1.5 lakh annually in SCSS. There is no facility to claim tax deduction under section 80C on investment in PMVVY. Second, the advantage is in case of premature withdrawal. Premature withdrawal is easy in SCSS. After opening the account, you can withdraw money from it. You will not get the benefit of interest or have to pay penalty.

In PMVVY, if you close the account before one year, then you will not get interest. If interest has been paid to you, it will be deducted from the principal amount. However, premature withdrawal is allowed in PMVVY under certain circumstances. The investor can withdraw his money from this scheme for the treatment of himself or his wife.

You can take advantage of both the schemes

If you want to take advantage of both the schemes, you can do so. For this you have to invest in PMVVY before March 31, 2023. After that you can also invest an additional Rs 15 lakh in SCSS on or after 1st April. Thus you stand a chance to earn assured returns on a total safe investment of Rs 45 lakhs.

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There is no danger of money sinking in this. At the same time, by investing just a few rupees every month, you can build up a substantial bank balance till maturity. Today we are going to tell you about one such scheme. In which you can make good savings by depositing small amounts. This scheme is of LIC.

LIC keeps taking out policies for people of different ages ranging from women. LIC schemes are a popular option for Indians to save money after savings linked schemes provided by banks and post offices. People prefer to invest in LIC’s schemes. Let us tell you about this plan.

Know which is the scheme

Life Insurance Corporation of India (LIC) has schemes for every section of the society. This is the reason why it is the market leader in the insurance sector. LIC Aadhaar Shila Policy is a good plan for low and middle income group. Its minimum amount is Rs 75000 and maximum Rs 3 lakh. You can set aside a modest amount per day to invest in LIC Aadhaar Shila. This is a long term investment like most LIC policies.

It also gives death cover to the individual. If a person invests Rs 58 every day, he will get lakhs of rupees at the time of maturity. The Sum Assured on Death is seven times the Annualized Premium and 110% of the Basic Sum Assured. The minimum age for entry into this scheme is 8 years and the maximum is 55 years. The term of the policy is 10 to 20 years.

In this way you will get 8 lakh rupees on maturity

This scheme is exclusively for women. The minimum plan term is between 10 to 20 years. The maximum age for maturity is 70 years. There is also a loyalty addition feature. The premium has to be paid in monthly, quarterly, half-yearly and yearly mode. If you are 20 years old and invest at the rate of Rs 58 every day, you will invest Rs 21918 annually. After 20 years your invested amount will be Rs 429392. At the time of maturity you will get Rs 794000.

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The government is running Sukanya Samriddhi Yojana for daughters . By investing in this scheme, parents can secure the future of their daughters. How to take advantage of it Sukanya Samriddhi Yojana is such a long term plan. By investing in this, you can add money from your daughter’s education to marriage expenses. Under Sukanya Samriddhi Yojana, the account of daughters below the age of 10 years is opened in the name of their parents only.

Under this scheme, you can invest from Rs 250 to Rs 1.50 annually. How many daughters will open an account from a family, earlier in this scheme, only two daughters’ account was exempted from tax under 80C. But now it has changed and under the rule, if two twin daughters are born after one daughter, then their account will also get tax exemption.

When can accounts be closed?

The account opened under Sukanya Samriddhi Yojana could be closed in the first two circumstances. If the girl child dies or if the address of the daughter’s residence is changed, then this account could be closed. But after the new change, the life-threatening illness of the account holder has also been included in it. The account opened under Sukanya Samriddhi Scheme can be closed prematurely even after the death of the parents.

How to open account?

To take advantage of this scheme, you can open an account by visiting any nearest post office or bank. Sukanya Samriddhi Yojana matures in 21 years. However, after the girl’s age is 18 years, money can be withdrawn from this account for studies. Full amount is available only after 21 years.

Documents required for Sukanya Samriddhi Yojana-

At the time of opening the account under Sukanya Samriddhi Yojana, it is necessary to give the girl’s birth certificate in the post office or bank. Also, the identity card and address proof of the girl and her parents are required.

How will the amount be deposited in the account?

The amount invested in the Sukanya Samriddhi Yojana account can also be deposited in cash, cheque, demand draft or in any such manner as the bank accepts.

How much interest will you get on investment?

At present, interest is getting at the rate of 7.6% on investment in Sukanya Samriddhi Yojana. Under this scheme, by investing a small amount, you can add lakhs of rupees. Sukanya Samriddhi Yojana is getting more interest than all the savings schemes of the bank or post office.

If you invest up to Rs 1000 every month under this scheme, then according to 7.6% interest rate, you will get an amount of more than Rs 10 lakh like this.
• Deposited in 1 month – Rs 1000
• Total deposit in 12 months Rs -12000
• Deposit up to 15 years – Rs -18,0000
• Total interest on deposit up to 21 years + Total deposit – Rs 329,212
• On attaining 21 years But after adding the total deposit + total interest, the money will be returned – Rs 10,18,425
• In this way, when your daughter is 21 years old, then lakhs of rupees will be deposited in her name. When you want your daughter to get married, then you can easily withdraw this money.

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Now taxpayers can do the compliance of purchase or construction till March 31, 2023. However, the due date of December 31, 2022 (FY 2021-22) for filing delayed/revised returns has passed. In such a situation, there is confusion among some taxpayers about taking its benefit.

Why issued this circular

In view of the turmoil caused by the Covid epidemic, the CBDT had given time till 30 September 2021 to those taxpayers who could not fulfill the said condition between 1 April 2021 and 29 September. However, the issue of inadequacy of the extended time limit was raised before the CBDT.

What are the exceptions

Under the Income Tax Act , a taxpayer is eligible to claim exemption from tax on income or gains arising on sale or transfer of long term capital assets such as house, agricultural land, industrial assets or land or building etc. For this, under section 54 to 54GB of Income Tax Act, the amount related to capital gain has to be used. The payment deadline for required compliance ranges from six months to three years.

Circular effect

For example, if a taxpayer claims deduction under section 54 for FY 2018-19 on transfer of his house for construction of another house on February 1, 2019, he can claim deduction for three years i.e. up to January 31, 2022. get time. Now the taxpayer can take advantage of this first circular of 2023, if he utilizes his remaining capital gains by March 31, 2023. Similarly, in case of transfer of an agricultural land on January 5, 2020, exemption can be claimed till January 4, 2022 (i.e. two years). Thus, he is now allowed to fulfill the required condition till March 31, 2023.

In case of non-compliance by the extended deadline, the taxpayer will have to pay capital gains tax in the current financial year 2022-23.

Who will not get the benefit of this circular

If the date of completion of compliance is not expiring between 1 April 2021 to 28 February 2022, then the taxpayer cannot claim the benefit till the extended period.

Taxpayer cannot claim benefit in the extended timeline for the purpose of crediting unutilized amount to Capital Gain Account , even if the due date for completion of compliance falls during the said period. For example, taxpayers were given time till July 31, 2022, to deposit unutilized capital gains on long-term capital assets sold during FY 2021-22, which were not to be audited. In such a situation, the benefit cannot be claimed in the extended date, because the date for filing delayed or revised returns for the financial year 2021-22 has passed on 31 December 2022.

This condition is also applicable in case where exemption under section 54 EC has been missed for long term assets transferred during the financial year 2020-21 or 2021-22 where the amount of investment after the date of transfer The period of six months provided for is falling between 1st April, 2021 to 28th February, 2022, as the return filing date for both the financial years has passed.

It appears that the CBDT has deliberately issued the circular after the due date for filing belated returns or revised returns for FY 2021-22 has passed, so that only certain categories of taxpayers can avail the benefit of claiming the exemption.

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Along with Guwahati, Reliance Jio has launched its True 5G Wi-Fi service in Maa Kamakhya Temple Complex. Apart from this, 7 other cities of 4 states have been connected to Jio network. Jio True 5G network has also been launched in three cities of Hubli-Dharwad, Mangalore and Belgaum in Karnataka, Cherthala in Kerala, Warangal and Karimnagar in Telangana and Solapur in Maharashtra.

Users will get welcome offer

From January 10, the welcome offer is being given to Jio users in 7 cities including Guwahati and other 4 states of Karnataka (Hubli-Dharwad, Mangalore, Belgaum), Kerala (Chertala), Telangana (Warangal, Karimnagar) and Maharashtra (Solapur). Under the offer, users will get 1 Gbps+ speed and unlimited data at no extra cost.

So much investment will be done in Assam for 5G

In the launching program, the Chief Minister of Assam said that 5G can see huge changes in the health sector. Solutions such as Jio Community Clinic Medical Kit, AR-VR-based healthcare with JioGlass, tele-radiology, smart healthcare like connected ambulance have been mentioned. This will benefit the lives of close to one billion people in urban and rural population. In addition to its existing investment of Rs 9,500 crore in Assam, Jio is investing over Rs 2,500 crore to set up a true 5G network in the state. By December 2023, Jio True 5G services will be available in every city and every taluka of Assam.

Reliance Jio’s Rs 61 5G plan (Reliance Jio Rupees 61 5G Plan)

In Reliance Jio’s Rs 61 plan, customers will get 6 GB data. Jio’s Rs 61 plan is a data voucher plan. In this, you will not get any benefit other than 6GB, 5GB data. There is no validity of this plan. This plan will remain active as long as your plan remains active. Apart from the Rs 61 plan, Reliance has also launched Rs 119, 149, 179,199 or Rs 209 plans. The validity of these plans will also remain till your active recharge plan. Customers will also get 5G service in these recharge plans. In all these plans, you are going to get internet only.

jio welcome offer

If you are a user of Jio and you have a 5G mobile phone. 5G service of your area Jio should be active. You will have to do a recharge of Rs 239 under the Jio Welcome Offer, after which you can take advantage of 5G internet. 5G service will be available with a plan of Rs 239.

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If you want to create a retirement corpus for pension, then National Pension System (NPS) can be the best option for this. The government runs a scheme to financially secure the future of private job seekers. The name of this scheme is National Pension Scheme. If you invest properly in this scheme, then after retirement you can get a pension of up to 50 thousand rupees every month. Here we are going to give you information about how you can get this much pension. Let us tell you how much money you will have to invest every month to get a pension of 50 thousand rupees.

Get tax exemption

NPS account holder gets income tax exemption of up to Rs 1.5 lakh under section 80C and additional Rs 50,000 under section 80CCD. However, the income from annuity is taxed. This income can be deducted from all your other income. By adding in, your slab will be determined and income tax will have to be paid accordingly. Whereas in Tier-1 account of NPS, the benefit of tax exemption is available on both contribution and withdrawal. In this case, the account holders will also get this benefit.

Heavy duty scheme

NPS is a mode of investment. It has been designed in such a way that even after retirement people can afford their expenses. It has less risk than equity and higher returns than PPF or Fixed Deposit. There are four asset classes in NPS – Equity, Corporate Debt, Government Bonds and Alternative Investment Funds. Investors have two options to invest in NPS – Active and Auto Choice.

Subscriber cannot withdraw the entire corpus on maturity. He has to invest 40% of the total NPS corpus in buying an annuity plan from a life insurance company. This annuity amount is the regular pension that the subscriber will get after retirement. The remaining 60 percent amount can be withdrawn in lump sum. However, some part of this can also be invested in buying an annuity. Thus an NPS subscriber can use more than 40% of his corpus and up to 100% to buy annuity. The more money you leave to buy an annuity, the more pension you will get after you retire.

How to get Rs 50,000 pension

If you want to get a pension of 50 thousand rupees every month after retirement, then you have to invest in this way. For this, you have to start investing from the age of 24. You have to deposit Rs 6000 every month. Accordingly, you will have to save Rs 200 daily. If he invests in NPS like this for 36 years, his total NPS investment at maturity at 10% per annum will be Rs 2,54,50,906.

If he spends 40% of his total corpus on buying annuity, he will get a pension of Rs 50,902 per month after retirement. If someone wants to get a pension of up to 75 thousand rupees after retirement, then he will have to invest 10 thousand rupees every month in NPS. Think of it like a 25 year old person invests Rs 10,000 every month in NPS for the next 35 years.

His total NPS investment at 10% annual return at maturity is Rs.3,82,82, 768 will be Rs. If he spends 40% of his total corpus on buying annuity, he will get a pension of Rs 76,566 per month after retirement.

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The budget day is slowly coming closer. Along with this, activities related to Income Tax have also started. Investment proof is being sought from those working in offices. It will be decided on the basis of investment proof whether your salary will come in full or less in the next month. If you have not submitted the proof of tax saving, then the salary will be sent to your account after deducting income tax. For investment proof, you have to submit proof of where you have invested. First the employee has to inform his office where he is investing. After this, its proof is sought in January.

Under Section 80C of Income Tax, tax exemption can be taken on investment up to Rs 1,50,000. That is, under this section 80C, you can reduce your total taxable income by Rs 1,50,000 by making different investments. Proof of investment: Life Insurance Policy premium receipt, ULIP premium proof, Equity Linked Savings Scheme (ELSS) investment proof, PPF, Sukanya Samriddhi Yojana and NSC investment receipts made on home loan principal Can collect rebate on repair and health insurance premium.

Tax exemption limit

In the year 2014, the then Finance Minister Arun Jaitley increased the tax exemption limit from Rs 2 lakh to Rs 2.5 lakh and also increased the tax exemption limit under Section 80C from Rs 1 lakh to Rs 1.5 lakh. Tax exemption is given on different types of investments under Section 80C of the Income Tax Act. If you have forgotten to claim tax exemption on different types of investments in any year, then later you can claim tax exemption by filing income tax return.

To save tax, under Section 80C, you can invest in Mutual Fund Tax Funds (ELSS), Bank’s Tax Savings Fixed Deposit Scheme, NPS, PPF, Life Insurance Policy, National Savings Certificate and Post Office Senior Citizen Savings Scheme. Tax exemption is also available on the tuition fees of two children. For this, you have to give the fee certificate issued by the school. This is the only expense under section 80C that does not come under the purview of investment.

How to get benefit

If you want to avail tax exemption under section 80C, you have to invest before the end of the financial year. In the year in which you invest in this period, you will be able to get the benefit of tax exemption for the same year. It is up to you to decide how much to invest in which instrument. The total limit with you is Rs 1.5 lakh. Now whether you want to invest the entire money in a single instrument or invest some money in various mediums.

The amount you claim under this section is reduced from your gross total income. It is easy to calculate this income tax. Suppose your gross total income is Rs 10 lakh and you have claimed a deduction of Rs 1.5 lakh under section 80C. So your taxable income will be Rs 8.5 lakh.

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According to the official website of the bank, the new rates have come into effect from January 3, 2023. The bank has increased the interest rates on FDs of less than 2 crores. According to the new rates, now common investors will get interest ranging from 3.25 percent to 7 percent on fixed deposits ranging from 7 days to 120 months. At the same time, senior citizens will get interest ranging from 3.75% to 7.75% on FDs of the same period.

For 8 percent interest, investment will have to be made for 30 months.
Investors will get up to 8 percent return on Yes Bank’s special FD scheme. Common investors will get 7.50 percent interest and senior citizens will get 8 percent interest on 30-month fixed deposits.

Yes Bank FD rates for general investors FDs of

7 to 14 days – 3.25% FDs of
15 to 45 days – 3.70% FDs of
46 to 90 days – 4.10% FDs of
91 to 180 days – 4.75%
181 FDs of 272 to 271 days – 5.75 per cent FDs of
272 to less than 1 year – 6 per cent FDs of 1
year to 120 months – 7 per cent

RBI has increased the repo rate

5 times in the last year Reserve Bank had increased the repo rate 5 times in the last year. With the intention of reducing inflation, the central bank increased the repo rate by another 0.35 percent to 6.25 percent in the bi-monthly monetary policy review on December 7, 2022.

Many banks have increased the rates of fixed deposits.

It is noteworthy that recently SBI, PNB, Kotak Mahindra Bank, HDFC Bank, Suryoday Small Finance Bank, Yes Bank, Jan Small Finance Bank etc. have also increased their FD rates. . This process of increasing FD rates has started after the increase in repo rates by RBI.

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This scheme was started by the central government on 26 May 2020. Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then after the age of 60, they can take advantage of it. Know about the complete plan.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.LIC Pension Scheme: Pradhan Mantri Vaya Vandana Yojana is being run by the Modi government. Under which monthly pension is guaranteed. This scheme was started by the central government on 26 May 2020. Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then after the age of 60, they can take advantage of it. Know about the complete plan.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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Government schemes are the best option for safe investment. If you are also planning to invest in the new year, then LIC is a better option for you. Today we are telling you about a wonderful scheme of LIC in which you will get bumper profits. There are many specialties in this scheme, let us know in detail.

What is LIC’s superhit plan?

The specialty of LIC is that it is the name of a special policy that follows the rules of Insurance Regulatory and Development Authority of India i.e. IRDA – LIC Jeevan Pragati Plan. In this, the government helps you in many ways. In this you also get risk cover. Not only this, you will also get death benefit in this, which increases every 5 years. This amount depends on how long your policy has been active. This policy can be started from the age of 12 years. Under this scheme you have to invest for 20 years. In this, investors will have to invest Rs 200 per day every day. Whereas in this scheme, the maximum age of investment in this is 45 years.

Know the specialty of the policy

– On the death of the policyholder for 5 years, 100 percent of the Basic Sum Assured will be paid.
– 125% will be paid on the death of the policyholder between 6 years and 10 years of the policy, 150% between 11 and 15 years and 200% between 16 and 20 years.
– Accident benefit and disability rider benefit will also be available.
– The investor will get Rs 28 lakh if ​​the Jeevan Pragati plan is a maturity benefit.

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As soon as the Modi government came to power in the year 2014, the investment limit in PPF was increased, due to which more tax exemption was available. At the same time, a big cut has been made in its interest rates in a decade.

Since the year 2013, the interest rates on PPF are continuously decreasing. In the year 2014, the government increased the investment limit in PPF from Rs 1 lakh to Rs 1.5 lakh annually. However, since then the interest rate has come down from 8.8 per cent to 7.1 per cent. That is, within just a decade, the interest rates on this scheme have come down by 1.7 percent. If you look at the official figures, the interest on PPF was 8.8 per cent in the year 2013, which has now come down to 7.1 per cent.

Interest decreasing year by year

Talking about interest on PPF, from April 1, 2013 to March 31, 2014, the total interest was 8.7 per cent and the investment limit was Rs 1 lakh. After this, from April 1, 2014 to March 31, 2016, the investment limit was increased to Rs 1.5 lakh, while the interest rate remained the same at 8.7 percent. Between April 2016 and September 2016, the PPF interest rate was revised and it came down to 8.1 per cent.

Interest kept decreasing further

After this, between October 2016 and March 2017, the interest rate of PPF decreased again and it came down to 8 percent. This process did not stop and till June 2017 its rate fell to 7.9 percent. By September, the PPF interest rate had come down to 7.8 per cent. Then between January and September 2018, it declined further by 0.20 per cent. The interest came down to 7.6 per cent.

Big reduction in the Corona

period Its interest rate increased between October 2018 and June 2019 and reached 8 percent, but it declined again from July 2019 to March 2020 and the effective interest rate came down to 7.9 percent. Then came the time of the Corona period and the government reduced its interest rate to 7.1 percent in April 2020, which is still maintained. In this, the maximum limit of the investor remains 1.5 lakh only.

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LIC has many policies keeping in mind the personal needs of the people. Very little money is needed to invest in them. One such plan of LIC is Jeevan Labh (LIC Jeevan Labh Policy). This is a limited premium paying non-linked, with profit endowment plan. This plan provides financial support to the family in case of unfortunate death of the policyholder at any time before maturity and by creating a substantial corpus to the surviving policyholder.

What is LIC Jeevan Labh Policy?

LIC’s Jeevan Labh plan is to pay premiums for a limited period of time. This is a non-linked plan from the stock market. Means, its money is not invested in the stock market. If the insured dies before the maturity of the plan, then this plan gives money i.e. security to the family. If the insured is alive till the maturity of the policy, then his money is received.

Benefits of LIC Jeevan Labh

If the life assured is alive till the maturity of the plan, he/she is given full Sum Assured along with Reversionary Bonuses and Final Additional Bonus together. The insured can pay the premium for a time period of 10, 13 and 16 years. They will get money on maturity after 16 to 25 years. The minimum age for taking LIC Jeevan Labh policy is 8 years and the maximum age is 59 years. A person aged 59 years will get only insurance with maturity of 16 years. So, that the age of the insured at the time of maturity does not exceed 75 years.

Will get Rs 54.50 lakh on maturity

If you are 25 years old and you buy LIC Jeevan Bima Labh policy for a maturity period of 25 years, you will get Rs 54.50 lakhs on maturity. For this, you will have to pay around 20 lakh rupees in 25 years for basic insurance. That is, you will have to pay a premium of around Rs 92,400 annually. This is around Rs 260 per day. After this you will get Rs 54.50 lakh on maturity.

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The government is running Sukanya Samriddhi Yojana for daughters . By investing in this scheme, parents can secure the future of their daughters. How to take advantage of it Sukanya Samriddhi Yojana is such a long term plan. By investing in this, you can add money from your daughter’s education to marriage expenses. Under Sukanya Samriddhi Yojana, the account of daughters below the age of 10 years is opened in the name of their parents only.

Under this scheme, you can invest from Rs 250 to Rs 1.50 annually. How many daughters will open an account from a family, earlier in this scheme, only two daughters’ account was exempted from tax under 80C. But now it has changed and under the rule, if two twin daughters are born after one daughter, then their account will also get tax exemption.

When can accounts be closed?

The account opened under Sukanya Samriddhi Yojana could be closed in the first two circumstances. If the girl child dies or if the address of the daughter’s residence is changed, then this account could be closed. But after the new change, the life-threatening illness of the account holder has also been included in it. The account opened under Sukanya Samriddhi Scheme can be closed prematurely even after the death of the parents.

How to open account?

To take advantage of this scheme, you can open an account by visiting any nearest post office or bank. Sukanya Samriddhi Yojana matures in 21 years. However, after the girl’s age is 18 years, money can be withdrawn from this account for studies. Full amount is available only after 21 years.

Documents required for Sukanya Samriddhi Yojana-

At the time of opening the account under Sukanya Samriddhi Yojana, it is necessary to give the girl’s birth certificate in the post office or bank. Also, the identity card and address proof of the girl and her parents are required.

How will the amount be deposited in the account?

The amount invested in the Sukanya Samriddhi Yojana account can also be deposited in cash, cheque, demand draft or in any such manner as the bank accepts.

How much interest will you get on investment?

At present, interest is getting at the rate of 7.6% on investment in Sukanya Samriddhi Yojana. Under this scheme, by investing a small amount, you can add lakhs of rupees. Sukanya Samriddhi Yojana is getting more interest than all the savings schemes of the bank or post office.

If you invest up to Rs 1000 every month under this scheme, then according to 7.6% interest rate, you will get an amount of more than Rs 10 lakh like this.
• Deposited in 1 month – Rs 1000
• Total deposit in 12 months Rs -12000
• Deposit up to 15 years – Rs -18,0000
• Total interest on deposit up to 21 years + Total deposit – Rs 329,212
• On attaining 21 years But after adding the total deposit + total interest, the money will be returned – Rs 10,18,425
• In this way, when your daughter is 21 years old, then lakhs of rupees will be deposited in her name. When you want your daughter to get married, then you can easily withdraw this money.

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What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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ELSS scheme benefits:: If you are doing financial planning then tax planning becomes very important. Financial experts recommend that everyone should start investing as soon as possible. Tax and financial expert Garima Bajpai said that your 20s is the right time to start investing. In the beginning, there is less responsibility on you, due to which maximum investment is possible for the future. You are new to the investment world, so choosing the right scheme is also important.

Tax benefits are also available on investment in ELSS

Chartered Accountant Garima said that ELSS ie Equity Linked Saving Schemes are a great option in terms of tax and investment. One should start investing with such schemes. Apart from tax benefits, there is also the benefit of growth in this. Let us know in detail about 5 special features of this scheme.

Lock-in period of 3 years

1>> ELSS is equity based mutual fund in which 80 percent is invested in stock market and 20 percent in debt. There is no maximum investment limit in this, but the minimum investment should be Rs 500. The lock-in period for this is at least 3 years. On investing in it, one gets the benefit of tax deduction under section 80C, which is limited to Rs 1.5 lakh.

Annual return of 14-17 per cent

2>> This scheme is capable of creating wealth in the long term. Looking at its performance, it has given an annual return of 14-17 per cent. Such great returns along with tax benefits are great for investors. If an individual falls in the 30 percent tax bracket, then by investing in it, he can save tax up to Rs 46800 on an annual basis. Talking about the tax on returns, then long term capital gains tax is levied on it. Capital gains up to 1 lakh are tax free. Thereafter, capital gains are taxed at the rate of 10 per cent.

SIP and lump sum investment option

3>> Investors have the option to do SIP in ELSS scheme or the facility of lump sum investment is also available. The SIP can be as low as Rs 500. There is no upper limit for lump sum investment.

Dividend option also available

4>>If an investor opts for dividend option then he will get the benefit of dividend on yearly basis even during the lock-in period of 3 years.

Compete with other schemes

5>> The expert said that the investment options under section 80C also include Public Provident Fund and Fixed Deposit. However, the returns on these schemes are fixed. The return on ELSS depends on the performance of the market. This is the reason why this scheme is more effective in creating wealth from medium and long term point of view. In the last five years, it has given excellent returns of 14-17 per cent on a yearly basis. Since this investment option is directly related to the market. In such a situation, the volatility of the market has a direct effect on your investment. To avoid this, investors are advised to invest for a long period.

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NPS pension calculator:  Everyone worries about old age expenses. If you also want that your old age is safe and you do not have any problem with money in old age, then you should start planning in advance. You should start saving money for retirement only on the day your job starts. Actually, the sooner you start saving, the more money you will get till retirement. There are many investment options available to you for accumulating retirement funds like EPF, NPS, stock market, mutual funds, real estate etc.

Government is running many schemes

To secure your retirement, the central government has made many schemes, where you can invest. If you are employed, then you must also think that when you retire, you will get a huge amount every month in the form of pension. But for this you have to invest from today itself, so that after 60 years your old age can be secure.

What is NPS Scheme 

National Pension System (NPS) is a government pension scheme consisting of both equity and debt instruments. NPS gets a guarantee from the government. You should invest in NPS scheme to get higher monthly pension after retirement. 

Income tax exemption

NPS pension scheme is a government scheme just like Public Provident Fund (PPF), Employees Provident Fund (EPF), Sukanya Samriddhi Yojana etc. In this, any investor can also increase his monthly pension amount by making the right use of maturity amount. Through NPS, you can save tax up to Rs 2 lakh annually. You can save tax up to a maximum of Rs 1.5 lakh under Section 80C of Income Tax. If you invest in NPS, you will get an additional tax exemption of up to Rs 50,000.

Will get monthly pension of Rs 2 lakh

If you deposit 5000 rupees every month for 40 years in NPC, you will get 1.91 crores. After this you will get 2 lakh monthly pension on investment of maturity amount. Under this, you will also get a monthly return of Rs 1.43 lakh and Rs 63,768 from the Systematic Withdrawal Plan (SWP). In this, a monthly pension of Rs 63,768 will continue to be received from the annuity till the investor is alive. 

Monthly pension of Rs 63,768 in 20 years

If you invest Rs 5000 every month from 20 years to retirement, then you will get a lump sum maturity amount of 1.91 crores to 1.27 crores. After this, you can get a monthly pension of Rs 63,768 per month at Rs 1.27 crore with 6% return.

There are two types of NPS

There are two types of NPS, NPS Tier 1, and NPS Tier 2. The minimum investment in Tier-1 is Rs 500 while in Tier-2 it is Rs 1000. However, there is no maximum limit for investment. There are three investment options available in NPS, in which the investor has to choose where his money will be invested. Equity, Corporate Debt and Government Bonds. With more exposure to equities, it also gives higher returns. Keep in mind that you should do any investment only after talking to your investment advisor. 

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Sukanya Samriddhi Yojana: If you are also the father of a daughter, then of course you must be thinking of making some investment for her better future. The first option is Sukanya Samriddhi Yojana in front of the people. This scheme was started by the government for the daughters. This is a scheme that gives guaranteed returns. With this scheme, you can prepare a huge fund for your daughter’s marriage or higher education.

The special thing about this scheme is that investment can be started from Rs.250 in it. Interest is also good in this as compared to other schemes. Along with this, the benefit of tax exemption is also available. It gives better returns as compared to other small savings schemes.

The government is giving interest at the rate of 7.6 per cent per annum on the Sukanya Smridhi Yojana. A maximum of Rs 1.5 lakh can be invested in a financial year. At the same time, if at least 250 is not invested in any financial year after the account is opened, then a fine of Rs 50 will be imposed.

There is no risk of any kind in this government scheme. This scheme will mature when the daughter attains the age of 21 years. In this scheme, you do not have to deposit money for the entire 21 years. Money can be deposited only for 15 years from the time of opening the account. Whereas the daughter will continue to get interest till the age of 21 years. Account under Sukanya Samriddhi Yojana can be opened in any post office or bank.

how much return will you get

If you daughter’s age is 1 year and deposit Rs 500 every month in her name then total deposit amount in a year will be Rs 6000. When the daughter is 22 years old, the investment will be Rs 90,000. You will get interest of Rs 1,64,606. In total, after 21 years, you will get Rs 2,54,606 on maturity.

when can you withdraw money

This scheme will mature when the daughter turns 21. The money deposited in this can be withdrawn only after the daughter turns 18. Even after 18 years, only 50% of the total amount can be withdrawn from this scheme. The entire amount can be withdrawn when the daughter turns 21. Money can be taken in lump sum or in installments. You will get money only once in a year. You can take money in installments for a maximum period of five years.

Under this scheme, you can withdraw money before the maturity period. But the condition is that it is necessary to deposit the money for 15 years. Only then will this facility be available. To withdraw money, it is necessary to put the girl’s ID along with the request form.

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LIC plan number 914

Life Insurance Corporation of India (LIC) brings many beneficial schemes for its customers, due to which investors get manifold profits. One such plan number of LIC is 914. The one you can trust with your eyes closed. By investing in this scheme, your better tomorrow will start. Let us tell you that in this special scheme of LIC, a person of minimum 8 years and maximum 55 years can open an account.

It is worth noting that in this scheme one has to invest for a minimum of 12 years and can invest for a maximum of 35 years. So at least in this scheme you have to keep the sum assured amount (insurance amount) of Rs 1 lakh.

Return of more than 48 lakhs in investment of 2 thousand

In this special scheme of Life Insurance Corporation of India (LIC), if a person starts investing from the age of 20, then he will have to get a term of 35 years. With which the policyholder will get insurance of 10 lakhs.

Investors will have to deposit a monthly premium of Rs 2079. Due to which 24948 rupees will be spent in the year. The special thing is that under this scheme, after 35 years, the investor will get a return of Rs 48 lakh 40 thousand.

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The services of the post office have been trusted by the whole of India for years. Being backed by the government, its savings schemes are absolutely risk free. Lakhs of people prefer to invest in post office schemes.

If you invest your money in post office schemes, then today we will tell you about one such scheme. This is the most profitable investment plan of the post office. In this scheme, you have to invest only Rs 170 per day and on maturity you can get a fund of Rs 19 lakh.

Save Rs 170 per day and get a great return of 19 lakhs

This post office scheme is best for people living in rural areas. Its name is Gram Sumangal Rural Postal Life Insurance Scheme. In this scheme, you can get better returns up to Rs 19 lakh by saving Rs 170 a day.

Any Indian citizen can take advantage of this scheme, this scheme can be taken for 15 years and 20 years. The age limit for taking the policy of Gram Sumangal Yojana is from 19 years to 45 years. The special thing is that any Indian citizen can take advantage of this. Let us tell you that in this scheme, on the survival of the policyholder, along with complete protection, the benefit of money back is also available. That is, the amount you invested will be fully refunded. At the same time, in the Gram Sumangal scheme, the policyholder also gets a bonus on maturity.

Sum Assured of Rs.10 Lakhs Under this policy, you get Sum Assured of Rs.10 Lakhs. At the same time, on the survival of the person during the policy, he gets a money back of up to 20 percent on 6 years, 9 years and 12 years. After this, along with the bonus on maturity, you also get the remaining 40 percent money.

Know, how much will be the bonus amount , if we talk about its bonus benefit, then the bonus amount for the premium term of 15 years will be Rs 6.75 lakh. If the premium term is 20 years, then the bonus amount will be Rs 9 lakh. Since the sum assured is Rs 10 lakh, the total benefit after 15 years will be Rs 16.75 lakh. After 20 years, the total maturity amount will be Rs 19 lakh.

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By investing in this special scheme, your daughter will become a millionaire in 21 years. All you have to do is invest Rs 416 daily in this scheme. This Rs 416 for your daughter will later become a hefty amount of Rs 65 lakh for your daughter. With this, the expenses of your daughter’s education will also be easily removed.

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana is such a long-term scheme, by investing in which you can be sure about your daughter’s education and future. You do not even need to invest a lot of money for this. Many major changes are taking place in this plan. Under the new rules, the provision of reversing the wrong interest in the account has been removed.

Apart from this, the annual interest of the account will be credited at the end of every financial year. Earlier the rule was that the daughter could operate the account only after 10 years. But under the new rules, the daughter will not be allowed to operate the account before the age of 18. Prior to that, only the parent would continue to operate the account.

Now the account of the ‘third’ daughter can also be opened-

Earlier in this scheme, the benefit of tax exemption under 80C was available only on the account of two daughters. This benefit was not available on the third daughter. Under the new rule, if two twin daughters are born after one daughter, then there is a provision to open an account for both of them.

Interest rate will not change on default account-

Under this, it is necessary to deposit at least Rs 250 in the account annually. In case of non-deposit of this amount, the account is considered as default. But under the new rules, if the account is not activated again, then till maturity, interest will continue to accrue at the applicable rate on the amount deposited in the account. Earlier, the defaulted accounts used to earn interest at the rate applicable to the Post Office Savings Account.

Account can be closed before the stipulated time-

The account opened under Sukanya Samriddhi Yojana could be closed in the first two situations. First if the daughter dies and second if the address of the daughter’s residence is changed. But after the new change, the life-threatening illness of the account holder has also been included in it. The account can be closed prematurely even in the event of the death of the guardian.

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LIC superhit plan

Significantly, Life Insurance Corporation of India (LIC) guarantees you savings and protection. The special policy that follows the rules of Insurance Regulatory and Development Authority of India i.e. IRDA is LIC Jeevan Pragati Plan. Not only can you become a millionaire by investing in it, but it also comes with risk cover. This plan was launched on 3 February 2016.

Will get death benefit

In the Jeevan Pragati plan of Life Insurance Corporation of India, regular premiums have to be paid. In this policy, you also get a life cover (Death Benefit), which increases every 5 years. This amount depends on how long your policy has been active.

Know the features of the policy

• In this, 100% of the Basic Sum Assured (Basic Sum Assured) is paid on the death of the policyholder for 5 years from the date of taking the policy.
• At the same time, 125% is paid on the death of the policyholder between 6 years to 10 years of taking the policy, 150% between 11 to 15 years and 200% between 16 and 20 years.
• Accident benefit and disability rider can also be availed in this plan. For this you have to pay some extra amount.
• After the maturity benefit of Jeevan Pragati plan, you will get an amount of Rs 28 lakh.

How much and how will you get the amount?

You have to invest in it for 20 years. The investor will have to invest 6 thousand rupees per month i.e. 200 rupees every day. This policy can be started from the age of 12 years. The maximum investment age in this is 45 years.

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There is no risk in investing

We are talking about National Pension Scheme. This is a government scheme, which is specially designed to give benefit to the elderly. There is no risk in investing in this scheme. This scheme was started in January 2004 for government employees. Later in 2009 it was opened to all categories of people. Under this plan, you have to invest for a long period in your working life. In this scheme, you have to invest 40 percent of the amount in the annuity. From the amount of annuity, you get pension later.

This way you will get 20 thousand rupees pension

If you want to invest in this scheme, then you can start it with an investment of only Rs 1000. People in the age group of 18 to 70 years can take advantage of this scheme. If you invest 1000 rupees a month in this scheme at the age of 20, then till retirement you will have a total corpus of Rs 5.4 lakhs.

There will be 10 percent return on this, this will increase this investment to 1.05 crores. If 40 percent of the corpus is converted into a year, then this prize will be Rs 42.28 lakh. Accordingly, assuming 10% annual rate, you will get a pension of Rs 21,140 every month. Along with this, you will get a lump sum amount of about Rs 63.41 lakh.

You will get these benefits

• if you invest in NPS, then 60 percent of the amount will be tax free on final withdrawal.
• The contribution limit in NPS account is 14%.
• The amount invested in the purchase of annuity is also fully exempt from tax.
• Any NPS subscriber can claim tax deduction up to 10% of the gross income under section 80CCD(1) of the Income Tax Act, subject to an aggregate limit of Rs. Under section 80CCE, this limit is 1.5 lakhs.
• Subscriber can claim additional deduction up to Rs 50,000 under section 80CCE.

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Government and private companies like IOCL, BPCL, HPCL, Essar and Reliance issue licenses for petrol pumps in India. Any person in the age group of 21 to 55 years can take a petrol pump license. If someone wants to open a petrol pump in rural area, then he should be 10th pass for license and if someone wants to open petrol pump in urban area then person should have class 12 pass.

So much investment is needed to open a petrol pump

According to media reports, about Rs 15 lakh will have to be invested to open a petrol pump in rural areas. On the other hand, if you want to open a petrol pump in an urban area, then you will have to invest Rs 30-35 lakh.

How are petrol pumps allotted?

According to IndianOil’s website, the company establishes retail outlets at any location based on the research done by the field team. If that place is found to be good for business, then it is also included in the marketing plan. You can see the guidelines for opening a petrol pump on the official website of Indian Oil www.iocl.com .

Petrol pump requires so much land

Know that to open a petrol pump, you must have a minimum of 1200 square meters of land on the national highway. At the same time, to open a petrol pump in urban areas, there should be 800 square meters of land. If the land is not in the name of the applicant, then he will have to take the land on lease for a longer period.

It is worth noting that if the petroleum company wants to open a petrol pump in a new area, then advertisements are given for this in newspapers and on the official website. Lottery system is also used in this. Talking about the commission on selling petrol and diesel, every company gives different percentage of commission. Every petrol pump dealer makes an average profit of two and a half to three rupees per liter of petrol sold.

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Employees’ Provident Fund Organization ie EPFO ​​account holders (EPFO Subscribers) can get a big gift soon. According to the report of ET Now Swadesh, the minimum pension (EPFO Pension) can be increased three times. It has been said in the report that a meeting of the Central Board of Trustees of EPFO ​​is going to be held next month. The three-fold increase in the minimum pension is expected to be discussed in this meeting . The minimum pension can be increased from the present Rs 1,000 to Rs 3,000.

According to the report, a committee headed by the Labor Secretary will submit its report in this matter soon. This decision will benefit about 6.5 lakh pensioners and 5 crore subscribers of EPFO.

There may be an increase in the limit of investment in equity Apart from this, the discussion on increasing the CBT equity limit from 15 percent to 25 percent will also be discussed in the meeting. Let us tell you that the labor union is not in favor of increasing investment in equity. Behind this, he is citing the uncertainty in the stock market as the reason.

Let us tell you that a few days ago, the Finance Ministry had announced 8.1 percent interest rate for the financial year 2021-22, giving a shock to the Employees’ Provident Fund Organization subscribers. This is the lowest level in four decades. For the financial year 2020-21, the rate of interest on EPF was 8.5 percent. The impact of this decision of the government will be on 65 million subscribers i.e. 6.5 crore jobseekers. In order to keep it attractive amid the declining interest rate, the government is considering increasing the limit of investment in the stock market from the EPFO ​​fund.

Actually, debt funds are not getting the required returns, so efforts are being made to get the targeted return by increasing investment in equities. An important meeting of the Finance Investment and Audit Committee was held two weeks ago to consider this proposal. The proposal which will be presented by this committee will be presented before the EPFO ​​Central Body of Trustees.

A meeting of the Central Body of Trustees is proposed in the last week of June. After the discussion on the proposal in this meeting, it will be sent to the Labor and Finance Ministry for final approval.

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