Skip to main content

Jeevan Suraksha Deposit Scheme

 Government today (9th August, 2015) launched a new drive called Suraksha Bandhan. Under this, you will get the different types of Jeevan Suraksha Gift Cheques (or Jeevan Suraksha Deposit Scheme). This scheme is going to be special on this year's Raksha Bandhan Festival (Rakhi Festival). You can gift these Jeevan Suraksha Gift Cheques
 

Under this scheme, you can buy either Gift Card or Banker's cheque and gift it to your loved one. The receiver of this gift card must visit her Bank (if already have Bank Account) or open a zero balance account and deposit this gift card.

These gift cards available in three denominations of Rs.201, Rs.351 and Rs.5,001.

#1: Pradhan Mantri Jeevan Suraksha Deposit Scheme Rs.201.

Under this Gift card, you are gifting your loved one to cover their accidental insurance for Rs.2,00,000 under the scheme of Pradhan Mantri Suraksha Bima Yojana (PMSBY). The rest of the amount will be converted to 10 years Bank FD at a rate of 8% per annum. Rs.201 will be used in below manner.

  • Once the Gift Card deposited to Bank then Rs.12 will be deducted from that Gift card towards one year premium of Pradhan Mantri Suraksha Bima Yojna. This covers the Accidental Insurance for Sum Insured of Rs.2,00,000.
  • The next year's Rs.12 premium towards Pradhan Mantri Suraksha Bima Yojana will be parked separately in a savings account as the premium for a second year.
  • Rs.177 (Rs.201-Rs.12-Rs.12) will be converted as Bank FD which will fetch 8% return for the next 10 Yrs. This means Rs.177 will earn yearly Rs.14.16. This interest will be sufficient to pay the yearly interest of Rs.12 towards Pradhan Mantri Suraksha Bima Yojana.

#2: Pradhan Mantri Jeevan Suraksha Deposit Scheme Rs.351.

Under this Gift Card, you are gifting Rs.351 to buy Rs.2,00,000 of Accidental Insurance under Pradhan Mantri Suraksha Bima Yojana and Rs.2,00,000 of Life Insurance under Pradhan Mantri Jeevan Jyoti Bima Yojana. Rs.351 will be utilised in below manner.

  • Once the Gift Card deposited to Bank then Rs.12 will be deducted from that Gift card towards one-year premium of Pradhan Mantri Suraksha Bima Yojna. This covers Accidental Insurance for Sum Insured of Rs.2,00,000.
  • Rs.330 will be deducted from Gift Card as a one-year premium of Pradhan Mantri Jeevan Jyoti Bima Yojana. This covers the Life Insurance for Sum Assured of Rs.2,00,000.
  • Remaining Rs.9 (Rs.351-Rs.12-Rs.330) will be deposited into a savings account to whom you gifted.
  • From the second year onward, insured must pay the premium for both the schemes from his/her own pocket.

#3: Pradhan Mantri Jeevan Suraksha Deposit Scheme Rs.5,001.

Under this Gift Card, you are gifting Rs.5,001 to buy Rs.2,00,000 of Accidental Insurance under Pradhan Mantri Suraksha Bima Yojana and Rs.2,00,000 of Life Insurance under Pradhan Mantri Jeevan Jyoti Bima Yojana. The rest of the amount will be deposited in a bank to facilitate the premium for both the schemes on a yearly base. Rs.5,001 will be utilised in below manner.

 
  • Once the Gift Card deposited to Bank then Rs.342 will be deducted from that Gift card towards one-year premium of Pradhan Mantri Suraksha Bima Yojna and Pradhan Mantri Jeevan Jyoti Bima Yojana. This covers Accidental Insurance for Sum Insured of Rs.2,00,000 and Life Insurance of Rs.2,00,000.
  • Next year's premium towards both these insurance plans will be kept in savings account (Rs.342).
  • Remaining Rs.4,317 will be converted into an FD of either 5 yrs or 10 yrs which will fetch an interest of 8% per annum. This deposit generates a yearly income of Rs.345.36 and be utilised towards the premium payment of both the schemes.

Few Conditions–

  • Managing of the insurance schemes (timely payment) rests with the insured (but not the gifted person).
  • As per tax laws, TDS will be deducted from FDs.
  • The last date for enrolling of both PMSBY and PMJJBY has been extended till 30th September, 2015.
-----------------------------------------------
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

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

What is Electronic Clearing Service (ECS)?

  As the name suggests, it's an electronic process through which money can be transferred from one bank account to another. According to RBI, this mode is usually used for regular payments and receipts, like distribution of dividend, interest, salary, pension etc. This mode is also used for collection of bills for telephone, electricity, water, various types of taxes, payment of EMIs , investments in mutual funds , payment of insurance premium etc. There are two types of ECS , like most other banking transactions, ECS credit and ECS debit. An ECS credit is used by a bank account holder , usually a large company or an institution for services like payment of dividend, in terest, salary, pension etc. If your mutual fund pays you dividend to your bank account, of all probability it is being paid through ECS credit.ECS debit, on the other hand, is used when a company or an institution is getting money from a large number of people. For example if you are investing in a mutual fund sc...
Read more

WEALTH TAX

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 WEALTH TAX   WHAT CONSTITUTES WEALTH? For wealth tax purposes, "wealth" means property , urban land, car, jewellery , yacht, boat, aircraft and cash in hand in excess of Rs 50,000. CAUTION POINT | Do not think you will have an easy escape from wealth tax by transferring your `wealth' without consideration to your spouse or minor child. Such assets will also be considered as your wealth. HOW TO DETERMINE YOUR TAXABLE WEALTH Add the taxable value of the above assets (computed as per the detailed rules for valuation) owned by you as on March 31 (for FY 2014-15, it will be March 31, 2015). In case you sold your car during the year, it will not be taxable wealth. Deduct loans if any obtained by you to acquire any of the taxable assets from the value of gross tax out for at least 300 days in a...
Read more

Equity Savings Fund

Invest Equity Savings Fund Online   The best part about these funds is that they are subject to equity fund taxation and at the same time are structured like MIP like funds . This new category, equity savings funds , offer a little of everything. They allocate money to equities & equity related instruments, and fixed income. They aim to generate returns by diversification. Such funds invest in fixed income and arbitrage to protect the investors from short term volatility and equity for capital gains. The best part of these funds is that they are subject to equity fund taxation and at the same time are structured like MIP funds.   MIP funds however are subject to debt fund taxation. Investors Equity savings funds are suitable for the following: First time investors who seek partial exposure to equity with less volatility and greater stability Investors seeking moderate capital appreciation with relatively lower risk Those wh...
Read more

How to Pick Top Performing Mutual Fund Schemes

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   How to Pick Performing Schemes  Funds that continue to stay in the top grade of performance over longer periods are the ones to bet on, advise investment experts   The mutual fund performance charts of the past few months make for an impressive reading. Funds across all categories boast of stellar returns. Sample this: The mid and small cap category has averaged 77 percent return over the past 12 months, with the best fund delivering a staggering 120 percent. The tax-saving funds also average an impressive 51 percent, including a fund which has soared 92 percent. Many of the table-toppers are funds of proven quality and track record. However, there are also schemes that are not that well-known. Some of these have rarely made it to the performance charts in the past, yet, of late, they bo...
Read more

8% Government of India Bonds quick guide

For those seeking comfort in safety of returns, the Government of India issued 8% savings bond once again comes to the fore. First launched in 2003, these bonds are issued by the government with a maturity of 6 years. The bonds are available at all times with specified distributors through whom you can apply to invest in them. Here is a quick guide to what the bond offers and its features to ascertain to check for suitability. What are Government of India bonds Government of India bonds are like any other government bonds with specified rate of interest. The rate is fixed at 8% per annum paid half yearly, or you can opt for cumulative payment of interest at the end of the tenure. You can buy these bonds from State Bank of India and its associates, other nationalized banks and some private sector banks such as HDFC Bank Ltd and ICICI Bank Ltd, among others. The bonds can be bought from the offices of Stock Holding Corporation of India as well. They are available in physical form onl...
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