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HOW MANY WAYS BY WHICH AN INDIVIDUALS CAN SAVE MONEY

It is critical to saving money. It's a lot simpler to say than it is to do. It's not uncommon for your short-term satisfaction to take precedence over your long-term saving goal. To save money, you must be firm with yourself. There are many government schemes by which you can save money.

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HOW MANY WAYS BY WHICH AN INDIVIDUALS CAN SAVE MONEY

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  1. Ways to save money by an individuals Vinod K Agrawal & Associates, CA

  2. 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.

  3. There are some banking schemes which are beneficials for individuals Pradhan Mantri Jan-Dhan Yojana (PMJDY) Sukanya samridhi account

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

  5. PENSION SCHEME Atal Pension Scheme Pradhan Mantri Shram Yogi Maandhan

  6. Pradhan Mantri Shram Yogi Maandhan Atal Pension Scheme • 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. 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

  7. INSURANCE SCHEME Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY) Pradhan Mantri Suraksha Bima Yojana(PMSBY)

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

  9. Thank you FOR MORE DETAILS CONTACT US THROUGH OUR WEBSITE: https://cavkagrawal.business.site/ VINOD K AGRAWAL & ASSOCIATES, CA

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