Skip to main content

Jeevan Suraksha Bandhan

 

It's a time for High Five for every Indian!! After four super successful schemes launched by Prime Minister Shri Narendra Modi earlier, another one was launched on August 01, 2015 in the name of Pradhan Mantri Sneha Bandhan Yojana now named as Suraksha Bandhan with an objective to encourage brothers to gift security schemes to their sisters and also enhance financial inclusion. This social security scheme would be driven by various banks and insurance companies which are offering the newly launched cheapest insurance schemes.

Benefits/Features of Suraksha Bandhan

This scheme is especially made for Raksha Bandhan festival in which brother can buy gift cheques with pre-fixed denomination and gift it to his sister. The gift cheques can be purchased any time in a year and gifted for any occasion.

Where to purchase gift card from? You can buy gift cheques from all the banks which are offering PMSBY and PMJJBY.

How will the money get deposited? Receiver of the gift card needs to visit her bank and deposit the card. If there is no bank account then zero balance bank account can be opened. You can also open zero balance account under Jan Dhan Yojana.

Here are the details of three gift cheques:

  1. Jeevan suraksha gift cheque of Rs. 351 will be used to pay one year premium of Suraksha Bima Yojana and Jeevan Jyoti Bima Yojana. Here's a table showing how this amount will be used and the balance that would be credited to the bank account of the recipient for future premium payment.
    GIFT CARD AMOUNT (IN RS.)ONE YEAR PMSBY PREMIUM
    		ONE YEAR PMJJBY PREMIUM
    		TOTAL 
    		BALANCE THAT WILL BE CREDITED IN THE BANK ACCOUNT
    35112330330+12=3429
  2. Suraksha deposit scheme worth Rs. 201 will be used to pay the premium for 1st and 2nd year of Suraksha Bima Yojana. Remaining amount will be used for investing in term deposit for 10 years. The interest rate offered will be 8.0% per annum and earned annual income can then be used for PMSBY premium. Here's a table showing how this amount will be used and the term deposit interest income.
    TOTAL DEPOSIT
    AMOUNT TO BE PAID
    		1ST YEAR PREMIUM FOR PMSBY
    		2ND YEAR PREMIUM FOR PMSBYTOTAL AMOUNT
    OF FD    		RETURNS ON TERM DEPOSIT OF RS. 177
    @ (8% P.A)
    2011212201-12-12=17714.16
  3. Jeevan suraksha deposit scheme worth Rs. 5001 will be used to pay the premium for 1st year of PMSBY and PMJJBY. Remaining amount will be used for investing in term deposit for 10 years. The interest rate offered will be 8.0% per annum and earned annual income can then be used for PMSBY premium. Here's a table showing how this amount will be used and the term deposit interest income.
    TOTAL DEPOSIT
    AMOUNT TO BE PAID
    		1ST YEAR PREMIUM FOR PMSBY + PMJJBY
    		2ND YEAR PREMIUM FOR PMSBY + PMJJBYTOTAL AMOUNT OF FDRETURNS ON TERM DEPOSIT OF RS. 177
    @ (8% P.A)
    500112 (PMSBY) + 330 (PMJJBY) =34212 (PMSBY) + 330 (PMJJBY) =3425001-342-342=4317345.36

Previous successful schemes launched by Prime Minister were:

  1. Jan Dhan Yojana: Bank account for every Indian household.
  2. Suraksha Bima Yojana: Cheapest insurance scheme for accidental death and disability.
  3. Jeevan Jyoti Bima Yojana: Cheapest life insurance scheme.
  4. Sukanya Samriddhi Yojana: Small deposit account for girl child for securing her future. Read in detail about the features of SSA.

Suraksha Bandhan – a fixed deposit scheme is also expected to garner good response as it is a good way to secure your sister's future and at the same time promote social security system. 

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

Popular posts from this blog

Am you Required to E-file Tax Return?

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Am I Required to 'E-file' My Return? Yes, under the law you are required to e-file your return if your income for the year is Rs. 500,000 or more. Even if you are not required to e-file your return, it is advisable to do so for the following benefits: i) E-filing is environment friendly. ii) E-filing ensures certain validations before the return is filed. Therefore, e-returns are more accurate than the paper returns. iii) E-returns are processed faster than the paper returns. iv) E-filing can be done from the comfort of home/office and you do not have to stand in queue to e-file. v) E-returns can be accessed anytime from the tax department's e-filing portal. For further information contact Prajna Capit...
Read more

IDFC - Long term infrastructure bonds - Tranche 2

IDFC - Long term infrastructure bonds What are infrastructure bonds? In 2010, the government introduced a new section 80CCF under the Income Tax Act, 1961 (" Income Tax Act ") to provide for income tax deductions for subscription to long-term infrastructure bonds and pursuant to that the Central Board of Direct Taxes passed Notification No. 48/2010/F.No.149/84/2010-SO(TPL) dated July 9, 2010. These long term infrastructure bonds offer an additional window of tax deduction of investments up to Rs. 20,000 for the financial year 2010-11. This deduction is over and above the Rs 1 lakh deduction available under sections 80C, 80CCC and 80CCD read with section 80CCE of the Income Tax Act. Infrastructure bonds help in intermediating the retail investor's savings into infrastructure sector directly. Long term infrastructure Bonds by IDFC IDFC issued an earlier tranche of these long term infrastructure bonds on November 12, 2010. This is the second public issue of long-te...
Read more

Section 80CCD

Top SIP Funds Online   Income tax deduction under section 80CCD Under Income Tax, TaxPayers have the benefit of claiming several deductions. Out of the deduction avenues, Section 80CCD provides t axpayer deductions against investments made in specific sector s. Under Section 80CCD, an assessee is eligible to claim deductions against the contributions made to the National Pension Scheme or Atal Pension Yojana. Contributions made by an employer to National Pension Scheme are also eligible for deductions under the provisions of Section 80 CCD. In this article, we will take a look at the primary features of this section, the terms and conditions for claiming deductions, the eligibility to claim such deductions, and some of the commonly asked questions in this regard. There are two parts of Section 80CCD. Subsection 1 of this section refers to tax deductions for all assesses who are central government or state government employees, or self-employed or employed by any other employers. In...
Read more

ULIP Review: ProGrowth Super II

  If you are interested in a death cover that's just big enough, HDFC SL ProGrowth Super II is something worth a try. The beauty is it has something for everybody — you name the risk profile, the category is right up there. But do a SWOT analysis of the basket, and the gloss fades     HDFC SL ProGrowth Super II is a type-II unit-linked insurance plan ( ULIP ). Launched in September 2010, this is a small ticket-size scheme with multiple rider options and adequate death cover. It offers five investment options (funds) — one in each category of large-cap equity, mid-cap equity, balanced, debt and money market fund. COST STRUCTURE: ProGrowth Super II is reasonably priced, with the premium allocation charge lower than most others in the category. However, the scheme's mortality charge is almost 60% that of LIC mortality table for those investing early in life. This charge reduces with age. BENEFITS: Investors can choose a sum assured between 10-40 times the annualised premium...
Read more

FCCB buyback

WITH dismal share valuations causing bondholders to redeem, and not convert their foreign currency convertible bonds ( FCCBs ), which until early this year were regarded as one of the most preferred options for raising corporate debt, suddenly seem to have become millstones around the necks of issuers. It is the redemption pressure on cash-starved issuers, coupled with the need to preserve liquidity by mitigating further forex outflow, which seems to have prompted the Reserve Bank of India ( RBI ) to issue the circular permitting buyback of FCCBs. As per the circular, issuers can now buyback FCCBs under the automatic route up to any limit out of existing foreign resources or by raising fresh external commercial borrowings (ECBs,) if effected at a minimum discount of 15% on the book value. Further, FCCBs up to $50 million can be bought back with prior RBI approval out of rupee resources representing “internal accruals”, if effected at a minimum discount of 25% on the book value. I...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now