How Goods and Services Tax (India) Impact on Your Daily Expenses The Goods and Services Tax has been rolled out... View Article
Tag Archive: Government schemes in India
Post Office Recurring Deposit Account is one the post office scheme which can be opened at minimum amount of Rs. 10 / month at the interest rate of 8.4% per annum (quarterly compounded). For ex. If you invested Rs. 20 / Month for 5 years, the amount will be Rs. 1493.06 after maturity.
Post Office Monthly Income Scheme (POMIS) is one the post office scheme which offers a guaranteed return on your investment. So the investor wants to generate monthly income can open this account and get assured return on the investment. This scheme is very useful for retired persons. So as they can invest a lump-sum amount and earn the interest on monthly basis.
Senior Citizen Savings Scheme is a Government Product which offer higher interest rate. The scheme was launched in Year 2004 for the benefit of senior citizens of India. The Tenure of the Senior Citizen Savings Scheme is 5 years from the date of opening of the account. On maturity the amount in the Senior Citizen Savings Scheme can be withdrawn by submitting Application Form E.However the deposit scheme can be extended by 3 years, after submitting the Form B within 1 year from the date of the maturity.
The Finance Minister re-introduced The Kisan Vikas Patra (KVP) in the budget 2014. The scheme launched in November 2014 by Finance Minister in presence of Minister of Communication & IT. The Kisan Vikas Patra (KVP) Re-Introduced to encourage savings among small investors.
The Finance Minister announced a low cost personal accidental cover called Pradhan Mantri Suraksha Bima Yojana (PMSBY).Pradhan Mantri Suraksha Bima Yojana (PMSBY)scheme covers death or disablement of the scheme holder cause due to accident or accidental injuries.
The Pradhan Mantri - Jeevan Jyoti Bima Yojana is a one year renewable group term insurance scheme, offers life insurance cover for death due to any reason.
Our Prime Minister Shri. Narendraji Modi launched a new scheme on Independence Day on 2014, under which every family living in India must have a account. This Yojana/Scheme is known as "Pradhan Mantri - Jan Dhan Yojana"