Date post: | 28-Jan-2018 |
Category: |
Education |
Upload: | utkarsh-shukla |
View: | 253 times |
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Why Savings are needed?
With savings, in the future you can buy what you can
not buy today
Future Needs Emergencies Unexpected Expenses like Illness, accident, death
Large Expenses To meet larger expenses
like purchasing a house, marriage, educaBon
Unsafe Money can be stolen or lost due to natural calamiBes
Drawbacks of Cash at Home
Loss of Growth
Opportunity Loss of Interest Income
No Credit Eligibility Deposits in Bank
creates Credit Eligibility
Inculcate habit of Saving
Avoid risk of chit funds, sahukars
Secure Money
Earn Interest Loans
RemiLances using Cheque Demand DraN
Bank
Why Bank is needed?
In case of no official documents “Small Accounts” can be opened by submiOng recent photograph and puOng signature or thumb impression in the presence of Bank Official
Documents for Opening of Bank Account
Passport Pan Card Driving License
Aadhar Card Voter Id Card Photograph Manrega Card
Recurring Account
Saving Account
Fixed Deposit
Banking Products
Monthly savings. Interest paid higher than savings
bank account.
Normal transacBon, flexibility for deposit and withdraws,
passbook and cheque book,etc
Fixed deposit for 7 days to 10 years, higher interest.
EducaBon Loans
Pursuing Higher/VocaBonal studies in India maximum 10 lakhs and abroad 20 lakhs.
OverdraNs Excess money withdrawal over balance in accounts on basis of eligibility
Banking Service Delivery Channel
Cash Withdrawal through ATM / RuPay Debit Card
ATM Account Opening, Cash Withdrawal / Deposit, Fund Transfer
Bank Mitra with Micro ATM
Point of Sale All Banking Services
Branch
Fund Transfer , Bill payment, online shopping ,Bcket
Internet Banking
Mobile Banking Fund Transfer , Bill payment
Mobile wallets Mobile based virtual wallet, preloaded
amount for online and offline spends
Purchasing and limited cash withdrawal
NaIonal Electronic Fund Transfer (NEFT)
Real Time Gross SePlement (RTGS)
Inter-‐Bank Transfer of any amount
Inter-‐Bank Transfer of Rs 2 lac and above.
Insurance
Life Insurance Non-‐Life Insurance
An agreement in which a person makes regular payments to a company and the company promises to pay money up to the insured amount if the person is injured or dies, or to pay money equal to the value of something (such as a house or car) if it is damaged, lost, or stolen.
Protection against future loss What is Insurance?
Accidental insurance coverage of Rs 2 lacs at a premium of Rs 12/-‐ per annum/ member (Age 18 – 70)
Life insurance coverage of Rs 2 lacs at a premium of Rs 330 /-‐ per annum/ member (Age 18-‐50)
Assured pension of Rs 1000/-‐ to Rs 5000/-‐
(Age 18-‐40)
Social Security Schemes
PPF The Public Provident Fund is savings-‐cum-‐tax-‐saving instrument. It mobilize small savings by offering an investment with reasonable returns combined with income tax benefits.
Pension A plan for seOng aside money to be spent aNer reBrement
• Launched by Hon’ble Prime Minister on 28th August 2014. • The scheme focuses on coverage of households in rural as well as urban areas. • RuPay Debit Card provides in-‐built Accidental Insurance Cover of Rs 1.00 Lac. • OverdraN facility up to Rs 5000/-‐
Pradhan Mantri Jan-‐Dhan Yojana
Cheque Demand DraV
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Banking Instruments
For cash withdrawal at Automated Teller Machine/Point of Sale (PoS)/Micro ATM through PIN/Password, cashless payment
for purchases etc.
ATM Debit Card
RuPay Debit Card