Outlook Money – 01.03.2018

Uti-Smart Woman Savings Plan

UTI MUTUal fUnD

BenefitS:

India’s first exclusive fund for women investors (resident or non-resident, must be 18 years or above)

Open-ended debt-oriented hybrid scheme

Also invests in equity

Opportunity to make reasonable income with moderate capital appreciation over the long term

Bajaj Allianz Women-

Specific Critical illness Plan

Bajaj allIanz general

BenefitS:

Covers critical illnesses that affect

women — cancer of the ovaries, breast,

vagina, cervix, uterus, among others

50 per cent of the sum insured for two

children in case of congenital disabilities

`25,000 can be claimed as children’s

education bonus (one or more children),

if the insured has been diagnosed with

a critical illness

If the insured loses her job within three

months of being diagnosed of a critical

illness, the policy will pay `25,000

towards loss of employment

Pradhan Mantri MUDRA

Yojana

governMenT of InDIa

BenefitS:

Exclusive scheme for business

startups

No collateral security is required for

loan up to `10 lakh

Three schemes: Sishu covers up to

`50,000; Kishor `50,000-`5 lakh;

Ta r u n `5-10 lakh

After verification of documents and

loan approval, banks will provide a

MUDRA (Micro Units Development

& Refinance Agency) card through

which 10 per cent of the approved

fund becomes available

MUDRA currently extends a reduction

of 25 basis points in the interest

rates to Micro Financing Institutions

(MFIs) and Non-Banking Financial

Companies (NBFCs) on loans offered

to women entrepreneurs

Source: Company websites

several Banks anD hoUsIng

fInanCe InsTITUTIons

BenefitS:

0.05 per cent interest concession for women

borrowers

On home loans up to `30 lakh, SBI charges 8.30 per

cent interest per annum for women (standard interest

for others is 8.35 per cent)

HOMe LOAn

Annapurna Scheme

sTaTe Bank of Mysore

BenefitS:
Exclusive scheme for women
venturing into food/catering
industry
Maximum loan granted up to
`50,000 (to be repaid in 36 EMIs)
No EMI is charged in the first month
of availing the loan

fOR BUSineSS StARtUPS

Cent Kalyani Scheme

CenTral Bank of InDIa

BenefitS:

Scheme for women involved in

cottage industries, self-employed, etc

No collateral security or third-party

guarantee is required; advance is

provided by the Credit Guarantee

Fund Trust for Micro & Small

Enterprises (CGTMSE)

No processing fee

Maximum loan amount `100 lakh

fOR BUSineSS StARtUPS

inSURAnCe

MUtUAL fUnD

inSURAnCe

fOR BUSineSS StARtUPS

SBi Life - Smart Woman Advantage

sBI lIfe InsUranCe

BenefitS:

Critical illness benefit covering different stages

of the disease

Flexibility in choosing between two plans, and

coverage against pregnancy-related complications

and childbirth-related abnormalities

Maturity benefit: basic sum + vested simple

reversionary bonus + terminal bonus

Death benefit: sum assured + vested simple

reversionary bonus + terminal bonus, or 105% of the

premium paid, whichever is greater

http://www.outlookmoney.com March 2018 Outlook Money 53

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http://www.outlookmoney.com March 2018 Outlook Money 53