3 Govt schemes you should know which can save you upto 5 Lac.


Here are the three Indian Govt schemes that every Indian should know which can help you save up to 5 Lac.


PMJDYthe prior motive behind this initiative is the financial inclusion of every individual who does not have a bank account. Under the PMJDY scheme, the account holders will be given worth Rs.30000 insurance coverage and an accidental life insurance coverage of over Rs. 100000. For the people who already have a bank account can become part of this by just registering their bank account under this scheme in their respective banks. This scheme is for every Indian irrespective of his class, creed, religion, financial status..etc. Not only this, if the person keeps the bank account active and saves some money, which they will, then the account holder will be given the overdraft limit of 5000 that one can withdraw from the account. So, by just registering your account under this scheme you are secured with 30000 accidental insurance and life cover of 1 lac rupee. So if you have not still got it, get it now!!

Many new technological facilities would be available to all the account holders by the National Payments Corporation of India (NCPI). Under these, the account holder can avail facilities like anytime fund transfer, Balance checking, etc. through normal phones as well as opposed to the use of only smartphones to date. Mobile banking facilities will also be available through the National Unified USSD Platform (NUUP) for which all the mobile companies and banks have joined hands.

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pradhan-mantri-suraksha-bima-yojna-smallThe scheme offers to provide you or your family a cover of up to Rs. 2 lac in case of any casualty, resulting in death or disability of the insured. In case of death or full disability, you or your family will get Rs. 2 lac and in case of partial disability, you will get Rs. 1 lac. Full disability means loss of both eyes or both legs or both hands, whereas partial disability means loss of one eye or one leg or one hand. Why we are calling it saving as it is, first of all, a Govt. scheme with a premium of 1 Re a month, yes you read it right Just 1 Re a month and you can get all the above benefits. Also, as our PM urged, enroll your servant, your driver, workers in your firm and every possible needy people whom you can help, under this scheme so that the real intention behind this scheme can be fulfilled i.e each citizen can feel himself insured and protected.

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The scheme would be offered/administered by many of the general insurance companies, both in the public sector as well as in the private sector. Participating banks will be free to engage any such general insurance company for implementing the scheme for their subscribers. National Insurance Company Limited, Oriental Insurance Company Limited, and ICICI Lombard are some of the companies which would be offering this scheme.


pradhan-mantri-jeevan-jyoti-bima-yojana Bank account holders aged between 18 and 50 years are eligible to apply for this scheme. Less than Re. 1 a day or an annual premium of Rs. 330 is what you need to pay to get a life cover of Rs. 2 Lacs. No matter what your age is, the premium is fixed at Rs. 330 for a life cover of Rs. 2 lac. This annual premium of Rs. 330 has been fixed for the first three years from June 1st 2015, to May 31st 2018, after which it will again be reviewed based on the insurers’ annual claims experience. Annual premium of Rs. 330 will get deducted from your savings bank account through auto-debit facility.


The scheme would be offered/administered by the Life Insurance Corporation (LIC) and other life insurance companies like SBI, ICICI, etc. through their tie-ups with the interested banks like SBI, ICICI, Canara Bank, etc. Participating banks are free to engage any such life insurance company for implementing this scheme for their subscribers.

So, if you are still not registered under these schemes, Register today as they are very easy to apply, free of cost, extremely profitable and Govt. assured schemes and provide a cover of whooping 5 Lac Rupee.