HOW MANY WAYS BY WHICH AN INDIVIDUALS CAN SAVE MONEY

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Ways to save money by an individuals

• Vinod K Agrawal Associates, CA

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Saving money has become a need for everyone these
days.Whatever you earn, try to save aside some
money from your existing earnings. There are
numerous ways to save money.
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There are some banking schemes which are
beneficials for individuals

• Pradhan Mantri Jan-Dhan Yojana (PMJDY)
• Sukanya samridhi account

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Pradhan Mantri Jan-Dhan Yojana (PMJDY)
Sukanya samridhi account

• You must open a Basic Savings Bank Deposit
  account and deposit any amount into it there is
  no requirement for a minimum balance in your
  account, unlike bank savings accounts.
• You will be given a Rupay Debit Card to use at
  any time.
• It also includes a benefit of Rs. 2 lakh in
  insurance coverage.
• Furthermore, the depositor will be eligible for
  an overdraft of up to Rs. 10,000.
• Interest on your credit balance is credited to
  your account in addition to the interest on your
  credit balance.

• You can open an account with a Rs.1,000 initial
  deposit and earn the greatest rate of interest.
• This account is very easy to manage and maintain.
• In addition, Section 80C of the Income Tax Act of
  1961 applies to depositors.

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PENSION SCHEME

• Atal Pension Scheme
• Pradhan Mantri Shram Yogi Maan dhan

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Atal Pension Scheme
Pradhan Mantri Shram Yogi Maan dhan

• A simple Savings Bank Deposit Account can be
  opened with no minimum balance required.
• Individuals can benefit from the Rupay Debit
  Card.
• The depositor is also entitled to interest on his
  or her money.
• Over and above the Rs. 2,00,000 Accident
  Insurance cover

• This is a retirement plan for the entire family.
• Monthly contributions range from Rs.55 to Rs.200,
  with a monthly annuity of Rs.3,000 after 60
  years.
• Enrollment is available at the common service
  centre and the facilitation centre.
• Aside from that, the escape provision is
  extremely adaptable.

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INSURANCE SCHEME

• Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY)
• Pradhan Mantri Suraksha Bima Yojana(PMSBY)

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Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY)
Pradhan Mantri Suraksha Bima Yojana (PMSBY)

• This policy is open to those aged 18 to 50, and
  the scheme's risk coverage is Rs. 2,000,000.
• It would be auto debited at Rs. 330 per annually.

• This policy is open to people aged 18 to 70, and
  it provides risk coverage of Rs. 2,00,000 for
  accidental death and Rs. 1,00,000 for partial
  disability.
• The amount of Rs. 12 per year will be deducted
  automatically.

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