Why  Savings  are  needed?  

With  savings,  in  the  future    you  can  buy  what  you  can    

not  buy  today  

Future  Needs   Emergencies  Unexpected  Expenses  like    Illness,  accident,  death  

Large  Expenses  To  meet  larger  expenses  

like  purchasing  a  house,  marriage,  educaBon  

Unsafe  Money  can  be  stolen  or  lost  due  to  natural  calamiBes  

Drawbacks  of  Cash  at  Home  

Loss  of  Growth    

Opportunity  Loss  of  Interest  Income  

No  Credit    Eligibility  Deposits  in  Bank    

creates  Credit  Eligibility  

Inculcate  habit  of  Saving  

Avoid  risk  of  chit  funds,  sahukars    

Secure  Money  

Earn  Interest  Loans  

RemiLances  using  Cheque  Demand  DraN    

Bank  

Why  Bank  is  needed?  

In  case  of  no  official  documents    “Small  Accounts”  can  be  opened  by  submiOng  recent  photograph  and  puOng  signature  or  thumb  impression  in  the  presence  of  Bank  Official  

Documents  for  Opening  of  Bank  Account  

Passport   Pan  Card   Driving  License  

Aadhar  Card   Voter  Id  Card   Photograph   Manrega  Card  

Recurring    Account    

Saving  Account  

Fixed  Deposit  

Banking  Products  

Monthly  savings.  Interest  paid  higher  than  savings  

bank  account.  

Normal  transacBon,  flexibility  for  deposit  and  withdraws,  

passbook  and  cheque  book,etc  

Fixed  deposit  for  7  days  to  10  years,  higher  interest.  

EducaBon  Loans  

Pursuing  Higher/VocaBonal    studies  in  India  maximum  10  lakhs  and  abroad  20  lakhs.  

OverdraNs    Excess  money  withdrawal  over  balance  in  accounts  on  basis  of  eligibility  

Banking  Service  Delivery  Channel  

Cash  Withdrawal  through  ATM  /  RuPay  Debit  Card  

ATM    Account  Opening,  Cash  Withdrawal    /  Deposit,  Fund  Transfer  

Bank  Mitra  with  Micro  ATM  

Point  of  Sale  All  Banking  Services  

Branch    

Fund  Transfer  ,  Bill  payment,  online  shopping  ,Bcket  

Internet  Banking  

Mobile  Banking    Fund  Transfer  ,  Bill  payment  

Mobile  wallets  Mobile  based  virtual  wallet,  preloaded  

amount  for  online  and  offline  spends  

Purchasing  and  limited  cash  withdrawal  

NaIonal  Electronic    Fund  Transfer  (NEFT)  

Real  Time  Gross    SePlement  (RTGS)  

Inter-­‐Bank  Transfer  of  any  amount  

Inter-­‐Bank  Transfer  of  Rs  2  lac  and  above.  

Insurance  

Life  Insurance   Non-­‐Life  Insurance  

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.  

Protection against future loss What  is  Insurance?  

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)  

Social  Security  Schemes  

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.  

Pension    A  plan  for  seOng  aside  money  to  be  spent  aNer  reBrement    

•  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.  •  OverdraN  facility  up  to  Rs  5000/-­‐  

Pradhan  Mantri  Jan-­‐Dhan  Yojana  

Cheque  Demand  DraV  

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Banking    Instruments  

For  cash  withdrawal  at  Automated  Teller  Machine/Point  of  Sale  (PoS)/Micro  ATM  through  PIN/Password,  cashless  payment  

for  purchases  etc.  

ATM  Debit  Card    

 RuPay  Debit  Card