Know Your Benefits(KYB)

Atal Pension YojanaName of the Scheme (Pension)

Compiled and Edited by Lead Optimist(PFA) - Shilpa

Under this scheme, an 18-years old investor will have to contribute Rs. 42 every month and a 40 years old investor have to pay a monthly installment of Rs. 291 for a period of 20 years. At the time of maturity, one can earn a pension amount of Rs. 1,000 to Rs. 5,000 every month. Anybody within the age group of 18 to 40 years, can contribute towards this scheme until the age of retirement. Read More

Kisan Vikas Patra (Financial)

Compiled and Edited by Overall - Lead Optimist(PFA) - Ashwini

"This is a small saving certificate scheme originally intended for the farming community, the priority was to encourage them to save for rainy days (now every Indian can get benefit). It offers 6.9% interest rate(which is variable) and doubles the investment amount in 124 months( depends on interest rate). The minimum investment amount is Rs. 1,000 and there is no maximum limit." Read More

Pradhan Mantri Awas Yojana (PMAY- Housing)

Compiled and Edited by Lead Optimist(PFA) - Shilpa

Pradhan Mantri Awas Yojana is an initiative by Government of India in which affordable housing will be provided to the urban poor with a target of building 20 million affordable houses by 31 March 2022. Read More

Pradhan Mantri Suraksha Bima Yojana (Social Security)

Compiled and Edited by Intern - Divya Vijaykrishnan

A nationwide scheme launched by the Government of India, the Pradhan Mantri Jan Dhan Yojana is a scheme formed to aid those without a bank account in India as an Indian citizen, in gaining financial inclusion. Through the means of this scheme, an individual is provided with the affordable access to banking or savings and deposit accounts, remittance, credit insurance and pension. Over seven years of its implementation, the Pradhan Mantri Jan Dhan Yojana has successfully spurred the opening of four crore banking accounts for its applicants. Read More

Pradhan Mantri Jeevan Jyot Bima Yojana (Insurance and Health)

Compiled and Edited by Lead Optimist(PFA) - Ramya Gowri Jayakumar

This is a Term Life Insurance policy which covers the policyholder for an amount of up to Rs. 2 lakh. The premium amount is as low as Rs. 330 in a year and anybody within the age group of 18-70 years with a Savings Account in a bank can apply for this scheme. It’s an accidental insurance cover which helps the policyholder’s family in case of the accidental death of the policyholder. Read More

Pradhan Mantri Suraksha Bima Yojana (Social Security)

Compiled and Edited by Intern - Divya Vijaykrishnan

The Pradhan Mantri Suraksha Bima Yojana is one of the three social security schemes introduced by the government of India. The scheme is an accidental insurance scheme providing death and disability coverage for one year and can be renewed annually.The policy provides destitute families with a life coverage of 2 lakhs for the accidental demise or the permanent total disability of a member and 1 lakh for permanent partial disability, with a minimum premium rate of Rs. 12/- per annum. A citizen within the age of 18-70 years having an active and participating bank account can be nominated to subscribe to this scheme.Read More

Sukanya Samriddhi Scheme (Education)

Compiled and Edited by Lead Optimist(PFA) - Syeda Ummay Husna

This scheme offers guaranteed annual returns of 9.2% and the minimum contribution is Rs. 1,000 in a year. This scheme is ideal for all those domestic workers who tend to take their daughters out of school due to lack of funds for her education. This scheme should ideally help them build funds for their daughters’ education or marriage plans.Read More

Urban Women Self-help Programme (UWSP - Employment)

Compiled and Edited by Lead Optimist(PFA) - Abirame Periyasamy

"Urban poor women self-help groups for setting up of group-enterprises and providing them assistance through a revolving fund for thrift & credit activities. This scheme will be having two sub-components.Read More

Vajpayee Arogyashree (Health)

Compiled and Edited by Intern - Divya Vijaykrishnan

The crippling poverty faced by factions of India is what called for change in the form of the Vajpayee Arogyashree scheme. Many families who were unable to purchase medical products or therapeutic medicine due to their impoverished state, have now gained a medium through which they are provided with the financial protection they require to seek treatment and medical resources. The Vajpayee Arogyashree scheme aims to provide BPL (Below Poverty Line) families across rural and urban areas with the means to treat catastrophic diseases they are plagued by, which pose a threat to the savings of the family, potentially depleting their hard-earned money to seek a cure.Read More