you can buy what you can n ot buy today Future Needs Emergencies Unexpected Expenses like Illness accident death Large Expenses To meet larger expenses l ike purchasing a house marriage ID: 1027299
Download Presentation The PPT/PDF document "Why Savings are needed? With savings, in..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
1. Why Savings are needed?With savings, in the future you can buy what you can not buy todayFuture NeedsEmergenciesUnexpected Expenses like Illness, accident, deathLarge ExpensesTo meet larger expenseslike purchasing a house, marriage,educationUnsafeMoney can be stolen or lostdue to natural calamitiesDrawbacks ofCash at HomeLoss of Growth OpportunityLoss of Interest IncomeNo Credit EligibilityDeposits in Bank creates Credit EligibilityInculcate habit of SavingAvoid risk of chit funds, sahukars Secure MoneyEarn InterestLoansRemittances using ChequeDemand Draft BankWhy Bank is needed?In case of no official documents“Small Accounts” can be opened by submitting recent photograph and putting signature or thumb impression in the presence of Bank OfficialDocuments for Opening of Bank AccountPassportPan CardDriving LicenseAadhar CardVoter Id CardPhotographManrega Card
2. Recurring Account Saving AccountFixed DepositBanking ProductsMonthly savings. Interest paid higher than savings bank account.Normal transaction, flexibility for deposit and withdraws, passbook and cheque book,etcFixed deposit for 7 days to 10 years, higher interest.Education LoansPursuing Higher/Vocational studies in India maximum 10 lakhs and abroad 20 lakhs.Overdrafts Excess money withdrawal over balance in accounts on basis of eligibilityBanking Service Delivery ChannelCash Withdrawal through ATM / RuPay Debit CardATM Account Opening, Cash Withdrawal / Deposit, Fund TransferBank Mitra with Micro ATMPoint of SaleAll Banking ServicesBranch Fund Transfer , Bill payment, online shopping ,ticketInternet BankingMobile Banking Fund Transfer , Bill paymentMobile walletsMobile based virtual wallet, preloaded amount for online and offline spendsPurchasing and limited cash withdrawalNational Electronic Fund Transfer (NEFT)Real Time Gross Settlement (RTGS)Inter-Bank Transfer of any amountInter-Bank Transfer of Rs 2 lac and above.
3. InsuranceLife InsuranceNon-Life InsuranceAn 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 lossWhat 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 SchemesPPF 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.PensionA plan for setting aside money to be spent after retirement 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.Overdraft facility up to Rs 5000/-Pradhan Mantri Jan-Dhan YojanaChequeDemand DraftBanking InstrumentsFor cash withdrawal at Automated Teller Machine/Point of Sale (PoS)/Micro ATM through PIN/Password, cashless payment for purchases etc.ATM Debit Card RuPay DebitCard
4. Pradhan Mantri Mudra Yojana (PMMY)The Hon’ble Prime Minister launched Pradhan Mantri Mudra Yojana (PMMY) on 08.04.2015, as a subsidiary of Small Industries Development Bank of India (SIDBI).To provide formal access of financial facilities to Non – Corporate Small Business Sector (NCSBS).To promote & ensure bank finance to the unfunded segments of the economy such as small manufacturing units, shopkeepers, fruits / vegetable vendors, truck & taxi operators, food service units, repair shops, small industries, artisan’s food processors, street vendors and many others.Did you know technical graduates can also avail loan under MUDRA ?Ans. Depending on the nature of business and project requirement you can access finance from one of the intermediaries of MUDRA as per the norms. Free from collateral security No processing fee & margin money for Shishu LoanCategories of Loan
5. BorrowersProper Business IdeaLoan ApplicationPublic/ Private Sector Commercial Bank, RRB or Co-operative BankDue processing of Loan ApplicationExecution of Loan DocumentsSanction/ Disbursement of LoanHow to avail of PMMY?For more details visit any of the nearest Bank Branch or log on to www.mudra.org.in