Government Schemes

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Guaranteed Millionaire

Guaranteed Millionaire Scheme
Invest Rs.1,64,000/- Yearly for 5 Years & Get Rs. 10 Lakh at Maturity
  • Guaranteed Returns
  • Hedge against falling interest rates.
  • No TDS
  • No penalty for non contribution of future instalments

Maturity Table for RD a/c opened after 1st Sept 2023

Maturity Table of Recurring Account. You may opt to pay on Monthly or Annual Basis. Annual Contribution is eligible for Discount.

Mtly Annual Rebate Annual Approx . Mat
10.00 4.00 116.00 710.00
100.00 40.00 1,160.00 7,100.00
500.00 200.00 5,800.00 35,500.00
1,000.00 400.00 11,600.00 71,000.00
1,500.00 600.00 17,400.00 106,500.00
2,000.00 800.00 23,200.00 142,000.00
2,500.00 1,000.00 29,000.00 177,500.00
3,000.00 1,200.00 34,800.00 213,000.00
3,500.00 1,400.00 40,600.00 248,500.00
4,000.00 1,600.00 46,400.00 284,000.00
5,000.00 2,000.00 58,000.00 355,000.00
7,000.00 2,800.00 81,200.00 497,000.00
10,000.00 4,000.00 116,000.00 710,000.00
14,100.00 5,640.00 163,560.00 1,001,100.00
15,000.00 6,000.00 174,000.00 1,065,000.00

Click here to know maturity values for various RD amounts

Maturity Table of Recurring Account. You may opt to pay on Monthly or Annual Basis. Annual Contribution is eligible for Discount.

   Monthly      Rebate Annual Investment Maturity Amount
         500.00          200.00                           5,800.00                 34,848.35
      1,000.00          400.00                         11,600.00                 69,696.70
      1,200.00          480.00                         13,920.00                 83,636.04
      1,500.00          600.00                         17,400.00              1,04,545.05
      2,000.00          800.00                         23,200.00              1,39,393.40
      2,500.00      1,000.00                         29,000.00              1,74,241.75
      2,700.00      1,080.00                         31,320.00              1,88,181.09
      3,000.00      1,200.00                         34,800.00              2,09,090.10
      3,500.00      1,400.00                         40,600.00              2,43,938.45
      4,000.00      1,600.00                         46,400.00              2,78,786.80
      4,500.00      1,800.00                         52,200.00              3,13,635.15
      5,000.00      2,000.00                         58,000.00              3,48,483.50
      5,500.00      2,200.00                         63,800.00              3,83,331.85
      6,000.00      2,400.00                         69,600.00              4,18,180.20
      6,500.00      2,600.00                         75,400.00              4,53,028.55
      7,000.00      2,800.00                         81,200.00              4,87,876.90
      7,200.00      2,880.00                         83,520.00              5,01,816.24
      7,500.00      3,000.00                         87,000.00              5,22,725.25
      8,000.00      3,200.00                         92,800.00              5,57,573.60
      8,500.00      3,400.00                         98,600.00              5,92,421.95
      9,000.00      3,600.00                     1,04,400.00              6,27,270.30
      9,500.00      3,800.00                     1,10,200.00              6,62,118.65
   10,000.00      4,000.00                     1,16,000.00              6,96,967.00
   10,500.00      4,200.00                     1,21,800.00              7,31,815.35
   11,000.00      4,400.00                     1,27,600.00              7,66,663.70
   11,500.00      4,600.00                     1,33,400.00              8,01,512.05
   12,000.00      4,800.00                     1,39,200.00              8,36,360.40
   12,500.00      5,000.00                     1,45,000.00              8,71,208.75
   13,000.00      5,200.00                     1,50,800.00              9,06,057.10
   13,500.00      5,400.00                     1,56,600.00              9,40,905.45
   14,000.00      5,600.00                     1,62,400.00              9,75,753.80
   14,400.00      5,760.00                     1,67,040.00           10,03,632.48
   14,500.00      5,800.00                     1,68,200.00           10,10,602.15
   15,000.00      6,000.00                     1,74,000.00           10,45,450.50
   16,000.00      6,400.00                     1,85,600.00           11,15,147.20
   17,000.00      6,800.00                     1,97,200.00           11,84,843.90
   18,000.00      7,200.00                     2,08,800.00           12,54,540.60
   19,000.00      7,600.00                     2,20,400.00           13,24,237.30
   20,000.00      8,000.00                     2,32,000.00           13,93,934.00

General Information

Tax free & taxable pension with one time / regular investments
Pension Schemes
Name Jeevan Akshay Jeevan Umang National
Pension Scheme		 MF Pension
scheme
Income Range 7 to 7.75% 8% on Sum Insured Mkt Linked
Gsec/Debt/Equity		 Mkt Linked
Gsec/Debt/Equity
Contribution One Time/Multiple Regular Regular Regular
Contribution Period Single 10/15/20 Years Till 60 Years of Age Till 60 Years of Age
Pension to Spouse As per Opted Scheme No No No
Tax on Income As per Slab Tax Free As per Slab As per Slab
Death before vesting Corpus to Nominee Sum Insured to
Nominee		 Corpus to Nominee Corpus to Nominee
Entry Age 40 Years 10 Years 18 Years 18 Years
Pension Age 40 Years At the end of Tenure 60 Years 60 Years
Death After vesting As per Opted Scheme Sum Insured to
Nominee		 Corpus to Nominee Corpus to Nominee
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Govt. Insurance Schemes

Social Security Schemes
Name Type of Cover Age Premium per Year
PM Jeevan Jyoti Scheme Life Insurance Worth 2 Lacs 18 – 55 300/-
PM Suraksha Bima Accidental Insurance Worth 2 Lacs 18 – 70 12/-
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Other Govt. Schemes

Govt. Schemes with guaranteed returns
Rates are subject to change Qtly or as per notification
Name PPF (Public Sukanya Senior Citizen Monthly Income Time Deposit
Providend Fund) Samruddhi Savings Scheme
Current rates 7.1 8 8.2 7.4 6.80 to 7.50
Income Frequency Credited PPF a/c on 1 Apr Cumulative Mar/Jun/Sep/Dec Monthly Annual
Change of rate By Govt. notification By Govt. On Maturity On Maturity On Maturity
notification
Tax benefits 80C 80C 80C Nil Nil
Tax on Income TaxFree TaxFree TDS if Int > Taxable No TDS Taxable No TDS
10,000/-.f.y.
Scheme Duration 15 yrs + 5 yrs Blocks Girl Child attaining 5 Years 5 years 1 to 5 yrs
(unlimited) 21 years
Contribution 500p.a. to 1.50Lacs Yearly for 15 Years One Time / Multiple One Time / Multiple One Time /
F.Y. upto 30 Lacs upto 9Lac in single / 15 lacs in joint a/c Multiple
Premature withdrawal After 5 yrs subject 18 Yr age/10th pass After 1 year with After 1 year with After 1 year
to conditios Penaulty Penaulty
Loan 3rd to 6th year No Loan No Loan No Loan No Loan
Int % on Loan 1% extra N.A. N.A. N.A. N.A.
Age Any Age Girl child Age < 60+ Any Age 10 year + Age
10 yrs
Old Rate Jan-Mar23 7.1 7.6 7.4 6.6 5.50 to 6.70
Old Rate 7.90% 8.40% 8.60% 7.60% 6.90 to 7.20
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Atal Pension Yojana

scheme offers guaranteed life pension after age 60
Joint Life Pension Scheme For Young Citizen
Important amendment for APY scheme wef 1st Oct 2022. 

The eligibility criteria in the Atal Pension Yojana Scheme (APY) which was launched on May 9, 2015 has been changed. According to the new criteria, any citizen who is or has been an income-tax payer, shall not be eligible to join APY after October 1, 2022.

The government has said that the new rule related to Atal Pension Yojana will be effective from October 1, 2022. Before this date all the taxpayers of the country should invest in the Atal Pension Scheme to enjoy the benefits.

Unique pension plan has features like
  • Entry Age 18 Years to 40 Years
  • Premium payable monthly till 60 years of age
  • chosen Guaranteed pension of Rs.1000 to Rs.5000 for life from age 60
  • Guaranteed pension for spouse after death of purchaser
  • on death corpus paid back to nominee

Age wise Premium Rates for various pension options

Age Years to invest

 

 1000 2000 3000 4000 5000
18 42 42 84 126 168 210
19 41 46 92 138 183 228
20 40 50 100 150 198 248
21 39 54 108 162 215 269
22 38 59 117 177 234 292
23 37 64 127 192 254 318
24 36 70 139 208 277 346
25 35 76 151 226 301 376
26 34 82 164 246 327 409
27 33 90 178 268 356 446
28 32 97 194 292 388 485
29 31 106 212 318 423 529
30 30 116 231 347 462 577
31 29 126 252 379 504 630
32 28 138 276 414 551 689
33 27 151 302 453 602 752
34 26 165 330 495 659 824
35 25 181 362 543 722 902
36 24 198 396 594 792 990
37 23 218 436 654 870 1087
38 22 240 480 720 957 1196
39 21 264 528 792 1054 1318
40 20 291 582 873 1164 1454
Corpus payable to nominee on death 170000 340000 510000 680000 850000
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National Pension Scheme

NPS in association with

National Pension Scheme

National Pension Scheme Also for Individuals

  • Get Additional Tax Benefit
  • Contribute as per your convenience
  • Choose your Pension Provider
  • Enjoy tax free withdrawals
  • Earn life time pension
  • Auto asset allocator option available
I want more information on NPS

Basic Requirements

Following are the conditions under which you are eligible to invest in NPS:

  • You are a citizen of India (resident or non-resident)
  • You are between 18 to 70 years of age as on the date of submission of your NPS application.
  • You comply with the Know Your Customer (KYC) norms as detailed in the Subscriber Registration Form.However, below are certain conditions under which you are not eligible to invest in NPS:

Undischarged insolvent , Individual of unsound mind, Pre-existing account holder under NPS

Investment Choices

NPS gives you the freedom to invest your money as per your choice.

It offers 2 options to choose from basis your comfort – Active choice and Auto choice.

If you are someone who likes complete control of your investments, this is a perfect choice for you. Here you can decide the distribution of your money basis your expected returns.

For your ease and convenience NPS gives you an option to plan for your retirement with an auto choice. Here, basis your requirement.

You can choose between 3 life cycle options:

  • LC 75 –This lifecycle offers you higher returns at a higher risk.
  • LC 50 – This lifecycle offers you moderate returns at moderate risk.
  • LC 25 – This is a low risk- return option.
  • Reallocation among the asset classes shall take place on your date of birth every year.
  • You may change your preference only twice, at any time during the financial year

Basis what you choose, your money will be invested in various asset classes. The distribution percentage of money is mentioned below:

Partial Withdrawal

NPS offers you the freedom to withdraw your money in case of any immediate financial requirement. You can avail this facility three times post you complete 3 years in the system. You can withdraw 25% of your contribution. However, you cannot withdraw any money from your employer’s contribution and the interest generated on it.

You can withdraw in case of below mentioned reasons:

  • Education and marriage of your children
  • Construction or purchase of residential property
  • If you are diagnosed with a critical illness like cancer, ailments related to heart, kidney, liver, etc.
  • If you are starting a new business

Exit From NPS

Exit on Retirement

  • You can withdraw 60% of the total accumulated amount as a lump sum completely tax free.
  • At least 40% of the accumulated pension corpus will be utilised to purchase an annuity through which you will get your monthly pension.
  • In case, the total pension amount is less than or equal to Rs.5,00,000 on the date of your retirement; you can withdraw the entire amount as a lump sum.

Before Retirement Exit

  • You can withdraw 20% of the total accumulated amount as a lump sum.
  • At least 80% of the accumulated pension wealth will be utilised to purchase an annuity through which you will get your monthly pension.
  • In case, the total pension amount is less than or equal to Rs.2,50,000 on the date of your exit; you can withdraw the entire amount as a lump sum.

On Death before pension vesting

  • If the subscriber belongs to the corporate sector and retail, the pension wealth will be given to the nominee.
  • If the subscriber belongs to the government sector, then the pension wealth will be settled as per the Government directives.

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