Posted: 26 Dec 2015 05:51 AM PST

Sukanya Samriddhi Scheme which was launched in January'15 is turning out to be the favourite investment option for the girl child since for the financial year 2015-2016, interest rate of 9.2% has been declared by the government. Earlier for the financial year 2014-2015, interest rate of 9.1% was declared by the government of India. Compared to PPF which would offer 8.7% interest, Sukanya Samriddhi Account will naturally offer very good returns if such an high interest rate is offered every year. Although there are many ways PPF and SSA are similar but there are many difference between these two zero risk investments.

Interested individuals can open the account at post offices and 28 authorized banks (public/private) by Reserve Bank of India. The application process is very simple and requires parents to submit the account opening form along with the following mandatory documents:

Birth Certificate of the girl child
Address and ID proof of the parents/legal guardian

The amount earned after the maturity will be totally tax free and moreover there is absolutely no tax on the investment made.

Displayed below is the maturity amount calculed at 9.2% interest rate when someone starts investing from the financial year 2015-2016 till 14 years and the amount received on maturity:

IF YOU INVEST FOLLOWING AMOUNT EVERY YEAR FOR 14 YEARS STARTING FROM 2015 TILL 2028	THEN MATURITY AMOUNT RECEIVED AFTER 21 YEARS (IN 2036) WILL BE
10,000	5,33,764
20,000	10,67,528
30,000	16,01,293
40,000	21,35,057
50,000	26,68,821
60,000	32,02,585
70,000	37,36,349
80,000	42,70,114
90,000	48,03,878
1,00,000	53,37,642
1,10,000	58,71,406
1,20,000	64,05,170
1,30,000	69,38,934
1,40,000	74,72,699
1,50,000	80,06,463

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

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

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Jeevan Suraksha Bandhan

Posted: 26 Dec 2015 05:15 AM PST

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:

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
351 12 330 330+12=342 9
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 PMSBY TOTAL AMOUNT
OF FD RETURNS ON TERM DEPOSIT OF RS. 177
@ (8% P.A)
201 12 12 201-12-12=177 14.16

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 + PMJJBY	TOTAL AMOUNT OF FD	RETURNS ON TERM DEPOSIT OF RS. 177 @ (8% P.A)
5001	12 (PMSBY) + 330 (PMJJBY) =342	12 (PMSBY) + 330 (PMJJBY) =342	5001-342-342=4317	345.36

Previous successful schemes launched by Prime Minister were:

Jan Dhan Yojana: Bank account for every Indian household.
Suraksha Bima Yojana: Cheapest insurance scheme for accidental death and disability.
Jeevan Jyoti Bima Yojana: Cheapest life insurance scheme.
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

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

Leave a missed Call on 94 8300 8300

What are Marriage Loans?

Posted: 26 Dec 2015 03:00 AM PST

What are Marriage Loans?

Weddings are an auspicious and remarkable occasion in one's life, celebrated with great enjoyment and excitement. Obviously everyone wants to celebrate this occasion in the best way possible. Some want it to be a trend setter with an elaborate guest list, a radiant and extravagant venue as well as lavish variety of food. Others want the best ring for their partner or a beautiful wedding attire.

A new trend is for brides and grooms to fund their own weddings even though most engaged couples still depend on their parents. Whatever the case may be, this special occasion needs a lot of funds. A marriage loan or personal loan is a good option to pay for wedding expenses and make the day extra special without an immediate financial burden.

Most banks offer marriage loans under the bracket of personal loans. You can check and compare the interest rates, eligibility and more details across all banks

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