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

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

SBI Magnum Tax Gain Scheme 1993 Applcation Form

https://sites.google.com/site/mutualfundapplications/tax-saving-mutual-funds-elss Investment Details Basics Min Investment (Rs) 500 Subsequent Investment (Rs) 500 Min Withdrawal (Rs) -- Min Balance -- Pricing Method Forward Purchase Cut-off Time (hrs) 15 Redemption Cut-off Time (hrs) 15 Redemption Time (days) -- Lock-in 1095 days Cheque Writing -- Systematic Investment Plan SIP Yes Initial Investment (Rs) -- Additional Investment (Rs) 500 No of Cheques 12 Note Monthly investment of Rs 1000 for 6 months and quarterly investment of Rs 1500 for 4 quarters.

Birla Sun Life Tax Plan Online

Invest Birla Sun Life Tax Plan Online An Open-ended Equity Linked Savings Scheme (ELSS) with the objective to achieve long-term growth of capital along with income tax relief for investment. After a bad patch from 2008 to 2010, Birla Sun Life Tax Plan has made a big comeback in the last five years, with a particularly good run since 2014. The fund's rankings, which had slipped to two stars in 2011-12, recovered sharply to three-four stars in the last three years. The fund has delivered a particularly large outperformance over its benchmark and peers in the last couple of years. The fund's investment strategy focuses on a diversified and high-quality portfolio, with parameters such as capital ratios and balance-sheet strength used to judge quality. It uses a combination of top-down and bottom-up approaches to take sector/stock positions. The fund avoids highly leveraged plays. Staying more or less fully invested at all times, the fund parks roughly half of its portfoli

Should you Roll Over 1 year Fixed Maturity Plans?

The period between January and March typically sees an uptick in the launch of fixed maturity plans, or FMPs. Not this year. Instead, fund houses are busy rolling over or extending the tenure of their one- year FMPs launched last year to three years. Investors in one- year FMPs have a choice. Either redeem units or roll over to three years. If you exit now, your gains will be added to your income and taxed in line with your individual slab rate of 10, 20 or 30 per cent. If you stay invested for two more years, you pay 20 per cent tax with indexation benefit. Yields have softened in the past few months on expectations of a rate cut. If the central bank continues its soft monetary stance, yields are likely to fall further. In such a scenario, it makes sense for investors, particularly those in the 30 per cent tax bracket, to roll over their investments and lock in at a higher yield now. In a surprise move, the Reserve Bank of India cut repo rate by 25 basis

Mutual Fund Review: IDFC Premier Equity Fund

IDFC Premier Equity Fund, which falls under the presumed high risk group of mid- and small-cap schemes, can rely on astute and timely equity picks. These make it less vulnerable to fluctuations compared with others in the category IDFC Premier Equity Fund is designed to invest in upcoming, but promising businesses available at cheap valuations, and hold on to these businesses until they reap desired returns. The experiment has been successful so far, and IDFC Premier Equity has emerged as one of the top performing mutual fund schemes in the mid- and smallcap category of equity schemes. While the scheme is an open-ended equity fund, i.e. open for subscriptions throughout the year, it has a unique philosophy to limit fresh inflows. Thus, while an investor can always take the systematic investment plan ( SIP ) route to invest in the scheme throughout the year, inflows through a lumpsum investment have been restricted. Since inception, IDFC Premier Equity has been opened for l

IDFC Premier Equity Fund dividend

IDFC Mutual Fund has announced dividend under the dividend option of IDFC Premier Equity Fund Direct-D . The quantum of dividend shall be R 4.3464 per unit. The record date has been fixed as May 06, 2015. Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015 1. ICICI Prudential Tax Plan 2. Reliance Tax Saver (ELSS) Fund 3. HDFC TaxSaver 4. DSP BlackRock Tax Saver Fund 5. Religare Tax Plan 6. Franklin India TaxShield 7. Canara Robeco Equity Tax Saver 8. IDFC Tax Advantage (ELSS) Fund 9. Axis Tax Saver Fund 10. BNP Paribas Long Term Equity Fund You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds Invest in 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]

Invest in Tax Saving Mutual Funds	Download Any Applications
Transact Mutual Funds Online	Invest Online
Buy Gold Mutual Funds	Invest Now

Invest in Tax Saving Mutual Funds	Download Any Applications
Transact Mutual Funds Online	Invest Online
Buy Gold Mutual Funds	Invest Now

Prajna Capital - An Investment Guide

Search This Blog