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Future Needs Emergencies Large Expenses Unsafe Loss of Growth

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Presentation on theme: "Future Needs Emergencies Large Expenses Unsafe Loss of Growth"— Presentation transcript:

1 Future Needs Emergencies Large Expenses Unsafe Loss of Growth
Why Savings are needed? Drawbacks of Cash at Home Future Needs Emergencies Large Expenses Unsafe With savings, in the future you can buy what you can not buy today Unexpected Expenses like Illness, accident, death To meet larger expenses like purchasing a house, marriage, education Money can be stolen or lost due to natural calamities Why Bank is needed? Secure Money Loss of Growth Opportunity Avoid risk of chit funds, sahukars Inculcate habit of Saving Loss of Interest Income Bank Earn Interest Loans No Credit Eligibility Remittances using Cheque Demand Draft Deposits in Bank creates Credit Eligibility Documents for Opening of Bank Account 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 Official Passport Pan Card Driving License Aadhar Card Voter Id Card Photograph Manrega Card

2 Banking Service Delivery Channel
Banking Products Recurring Account Saving Account Fixed Deposit Education Loans Overdrafts Monthly savings. Interest paid higher than savings bank account. Normal transaction, flexibility for deposit and withdraws, passbook and cheque book,etc Fixed deposit for 7 days to 10 years, higher interest. Pursuing Higher/Vocational studies in India maximum 10 lakhs and abroad 20 lakhs. Excess money withdrawal over balance in accounts on basis of eligibility Banking Service Delivery Channel Bank Mitra with Micro ATM ATM Cash Withdrawal through ATM / RuPay Debit Card Account Opening, Cash Withdrawal / Deposit, Fund Transfer Point of Sale Branch All Banking Services Purchasing and limited cash withdrawal Mobile Banking Internet Banking Fund Transfer , Bill payment Fund Transfer , Bill payment, online shopping ,ticket Mobile wallets Mobile based virtual wallet, preloaded amount for online and offline spends National Electronic Fund Transfer (NEFT) Real Time Gross Settlement (RTGS) Inter-Bank Transfer of any amount Inter-Bank Transfer of Rs 2 lac and above.

3 Assured pension of Rs 1000/- to Rs 5000/- (Age 18-40)
Pradhan Mantri Jan-Dhan Yojana 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/- Banking Instruments ATM Debit Card RuPay Debit Card Demand Draft Cheque For cash withdrawal at Automated Teller Machine/Point of Sale (PoS)/Micro ATM through PIN/Password, cashless payment for purchases etc. Insurance What is Insurance? Protection against future loss 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. Life Insurance Non-Life Insurance Social Security Schemes 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) Pension A plan for setting aside money to be spent after retirement 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.

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