Project – 1

Family Budget

INCOME- ₨ 1,50,000
• SALARY- ₨75,000
• RENT RECEIVED- ₨ 75000

EXPENSES - ₨ 1,00,000
• HOUSEHOLD- ₨ 30,000
• LOAN - ₨ 60,000
• MISCELLANEOUS - ₨ 10,000

SAVING- ₨ 50,000

BUDGET SURPLUS - ₨ 50,000

Running a budget surplus means there is

additional money to spend at the end of the
accounting period, which is generally a fiscal
year. This extra cash can be used to pay off
debts or be reinvested in other projects. It can
even be returned to the public in the form of
price or tax cuts.
 IF THE INCOME GETS DOUBLED

INCOME- ₨ 2,25,000
• SALARY- ₨1,50,000
• RENT RECEIVED- ₨ 75000

EXPENSES - ₨ 1,00,000
• HOUSEHOLD- ₨ 30,000
• LOAN - ₨ 60,000
• MISCELLANEOUS - ₨ 10,000

SAVING- ₨ 1,25,000

BUDGET SURPLUS - ₨ 1,25,000

❖ INVESTMENT SCHEMES

➢STOCK MARKET TRADING- It is the most famous

and easily accessible scheme for every
household. Anyone can open a Demat Account
and start trading.
➢Initial Public Offerings (IPO)- Initial public
offering is the process by which a private company
can go public by sale of its stocks to general public. It
could be a new, young company or an old company
which decides to be listed on an exchange and hence
goes public.

➢Bank Fixed Deposits- In a Fixed Deposit, you put

a lump sum in your bank for a fixed tenure at an
agreed rate of interest. At the end of the tenure, you
receive the amount you have invested plus compound
interest. FDs are also called term deposits. Interest
rates.

➢ PostOffice Monthly Income Scheme

(POMIS)- It is a low-risk MIS and generates a steady
income. You can invest up to Rs. 9 lakh individually or
Rs.15 lakh jointly, and the investment period is 5
years. Capital protection is its primary objective. The
interest rate for April-June 2023 is 7.40% per annum,
payable monthly.

➢ Real Estate- Real estate is property in the form of

land, houses or other buildings. Title insurance
guarantees the purchaser of real estate against loss
from undiscovered defects in the title to property that
has been purchased. Personal property is property
other than real estate, or property that is movable or
separable from it.
 SALARY GETS 60% OF THE ORIGINAL

INCOME- ₨ 1,20,000
• SALARY- ₨45,000
• RENT RECEIVED- ₨ 75000

EXPENSES - ₨ 1,00,000
• HOUSEHOLD- ₨ 30,000
• LOAN - ₨ 60,000
• MISCELLANEOUS - ₨ 10,000

SAVING- ₨ 20,000

BUDGET SURPLUS - ₨ 20,000

❖ EXPENSES THAT SHOULD BE CONTROLLED

Ans- Household and miscellaneous expenses
should be controlled as they are the only variable
expenses in the budget. Loan is a fixed expense
which can’t be avoided. We should control our
household and miscellaneous expenses.
 Project 2: Banking Services

➢Information about
1. Housing Loan- State Bank of India offers
attractive interest rates on home loans starting at
8.40% p.a. The loan tenure can be extended up to
30 years, ensuring a comfortable repayment period.
The processing fee on these loans is 0.35% of the
loan amount (Min. Rs.2,000; Max. Rs.10,000) plus
applicable taxes.

2. Education Loan- The loan will be sanctioned

for extending financial assistance. to deriving /
meritorious students for pursuing higher
education. in India and abroad. 6.50% ·
EDUCATION LOAN SCHEMES - RATE OF
INTEREST

3. Medical Loan- A medical loan is a type of

personal loan that offers financial coverage
against expenses that you might have to incur
in the event of a medical
emergency. Healthcare Business Loan
· 8.40%* p.a. · Start From · 10.55% p.a.* ·
2.70% p.a. · 3.00% p.a. · Starts From 8.70%*
 4. Vehicle Loan- Certified Pre-owned Car Loan
Scheme. From 11.30% to 14.80% (CIC Based
rates are applicable). ; SBI Two-Wheeler
Loan. 12.90% to 14.40%.

❖ DOCUMENTS REQUIRED FOR THE APPLICATION OF

LOAN

• KYC documents such as Aadhar card,

passport, driving license, voter's ID, or a
Letter of National Population Register.

• PAN card.

• Cancelled cheque.

• Bank account statements for the last 3

months.

• Salary slips for the last 3 months.

 DIFFERENT DOCUMENTS FROM THE
BANK

❖ Withdrawal slip

❖ Deposit slip
❖ Cheque

❖ ATM form
❖ KYC form.

Project 3:
Finance Services from Indian Post Offices

❖ Saving Account
Post Office Savings Account is a deposit
scheme under the Government of India,
operational at all post offices in the
country. It yields returns on your
investment at a fixed interest rate which
is decided by the Reserve Bank of India
(RBI).

❖ Kisan Vikas Patra

A savings certificate scheme, Kisan
Vikas Patra (KVP) was originally
launched in the year 1988 by India Post.
This is basically the Indian Government's
initiative to encourage small savings in
the country for the investor's secure
future.
❖ National Saving Certificate
NSC or National Savings Certificate is a
fixed-income investment scheme backed
by the Government of India. The savings
bond is suitable for small and medium-
income investors to save tax while
earning returns.

❖ Sukanya Samridhi Yojna

Sukanya Samriddhi Yojana is a small
deposit scheme of the Government of
India meant exclusively for a girl
child and is launched as a part of Beti
Bachao Beti Padhao Campaign. The
scheme is meant to meet the education
and marriage expenses of a girl child.
❖ VARIOUS DOCUMENTS REQUIRED IN POSTAL
FINANCIAL SERVICES

• Identity Proof: Copy of government

issued ID such as Passport / Voter ID
card / Driving License/Aadhaar, etc.

• Address Proof: Government issued ID

or recent utility bills.

• Photographs: Passport size

photographs.
 DIFFERENT
DOCUMENTs
❖ Saving Account
❖ Kisan Vikas Patra
❖ National Saving Certificate
❖ Sukanya Samridhi Yojna

Project 4: Insurance Services

 Project 4:
Insurance Services
❖ Life Insurance
A life insurance policy is essentially a
contract between an individual and an
insurance provider, where the company
promises to pay a specified amount of
money to the family or beneficiary of the
individual, in return for regular payments
over a period of time.

❖ Health Insurance
Health insurance is an insurance product
which covers medical and surgical
expenses of an insured individual. It
reimburses the expenses incurred due to
illness or injury or pays the care provider
of the insured individual directly.
❖ Motor Insurance
Motor Insurance is a type of insurance
policy which covers your vehicles from
potential risks financially. Policyholder's car
or two wheeler is provided financial
security against damages arising out of
accidents and other threats. In India, motor
insurance is mandatory.
 VARIOUS DOCUMENTS REQUIRED
FOR INSURANCE

Documents required for car insurance in India are:-

• Birth Certificate
• Voter ID card
• PAN Card
• Aadhaar Card
• Driving License
• Car registration certificate
• Car registration number
• Old car insurance policy number
• Passport.
New car insurance:

• Aadhar Card Number

• Chassis Number
• Engine Number
• Body Type
• Fuel Type
• Vehicle Colour
 • Manufacturer Details
• Model Details
• Registration Number
• Full Name of the Owner.
b.) Renewal:

• Government-issued ID proof (PAN card/ Aadhar

card/ Passport/Photo ID)
• Address proof (Passport/Driving License/ Bank
passbook/)
• Recent Photograph
• Driving License
• Vehicle registration number
• Registration certificate
• PUC certificate/Pollution test certificate
• Old motor insurance policy number
• Credit or debit card details for online banking.
c.) Claim Process:
Documents Required for Car Insurance Claim
Settlement:

• Duly signed and filled claim form

• Insurance Policy Document
 • Car’s Registration Certificate (RC)
• Driver’s license (DL)
• Pollution Under Control (PUC) Certificate
• Original receipt/bills of repairs (in case of
reimbursement claim)
• FIR (in case of fatal injuries/accidents or third party
liabilities)
• A copy of PAN Card (if the claim amount is more
than Rs. 1 lakh).
• Duly signed Satisfaction Voucher (SV) or Discharge
Voucher (DV)
Accidental Death Claim:-

• Death certificate
• Post-mortem report
• Medical certificate
• FIR report
• Medicine bills.

2.) Documents Required for Health Insurance:

a.) Buy:
List of Documents Required for Health Insurance Policy
 • Proof of Age such as Passport/driving
license/Aadhaar card/PAN card/Birth certificate,
10th or 12th marks sheet, etc.
• Proof of Address such as Aadhaar/telephone bill/
power bill/ration card/ pan card/driving license
• Passport Size Photograph
• Medical reports in case needed.
b.) Renewal:
Documents Required for Health Insurance Renewal

• Old insurance policy number

• Policy renewal notice
• Proposal form
• Photographs
• Premium Cheque
• Mandate letter.
c.) Claim:

• Original investigation reports

• Pharmacy bills along with the prescription
• Final hospital discharge summary
• FIR or post-mortem report if happened
• Original bills, receipts, and discharge report
 • Original hospital bills and a valid photo ID proof
• Treating doctor's report, and original consultation
notes
• Nature of operation performed and surgeon's bill
and receipt
• Indoor case papers and duly-filled claim form
• Test reports along with attending doctor’s or
surgeon’s report.

3.) Documents Required for Life Insurance:

a.) Buy:
To buy a life insurance policy, the following documents
would be required:-

• Life insurance proposal form, duly filled and signed

by the proposer and/or the life insured
• Photograph of the proposer
• Photograph of the life insured (if different from the
proposer)
• Age proof of the proposer and/or the life insured
• Identity proof of the proposer and/or the life
insured
• Address proof of the proposer
 • Medical examination report of the life insured if
required by the policy because of the age and/or the
sum assured chosen
• Income proof of the proposer if the sum assured
and/or the premium of the policy is high
• PAN card of the proposer.
b.) Renewal:

• Life insurance proposal form, duly filled and signed

by the proposer and/or the life insured
• Photograph of the proposer
• Photograph of the life insured (if different from the
proposer)
• Age proof of the proposer and/or the life insured
• Identity proof of the proposer and/or the life
insured
• Address proof of the proposer
• Medical examination report of the life insured if
required by the policy because of the age and/or the
sum assured chosen
• Income proof of the proposer if the sum assured
and/or the premium of the policy is high
• PAN card of the proposer
• Old life insurance policy copy/number
c.) Claim Process:
Documents Required for Life Insurance Claims:

• Original Policy Documents

• Claimant’s Photo ID Proof
• Claimant’s Address Proof
• Claim Forms (Duly signed and attested)
• Death Certificate attested by the local authorities
• Copy of Cancelled Cheque/Bank Statement/Bank
Passbook
• Copy of FIR/Post Mortem Reports/Punchnama.
• Medical Records (including hospital discharge
summary).
Maturity or Survival Claims:

• Discharge voucher sent by the insurance company,

duly filled and signed by the policyholder
• Life insurance policy bond
• Identity proof of the policyholder, legal heirs or
assignee as the case may be, Bank account details of
the policyholder, legal heirs or assignee as the case
may be, Age proof of the insured member if it was
not submitted at the time of buying the policy.
Death Claims:
 • The death claim form, duly filled and signed by the
nominee
• Life insurance policy bond
• Death certificate of the life insured
• Identity proof of the nominee, legal heirs, or
assignee as the case may be Bank account details of
the nominee, legal heirs, or assignee as the case may
be Police FIR if death happened due to an accident
• Post-mortem report, coroner’s report, police inquest
report, panchnama, and other relevant records if
death happened in an accident
• Any other document as needed by the insurance
company to settle the claim.

4.) Documents Required for Two Wheeler Insurance:

a.) Buy:

• Proof of identity such as Ration card/ voter

ID/Driving license/ passport/Aadhaar Card
• Proof of Address such as Aadhaar Card/telephone
bill/ power bill/ration card/ pan card/driving license
• Registration certificate of the bike
• Old policy number, if have.
b.) Renewal:
Documents required for Old policy renewal:

• Policyholder’s details such as name date of birth,

gender, address, occupation
• Driving license of Policyholder
• Vehicle registration certificate number and
registration number
• Old two wheeler insurance policy number
• Net banking/credit/debit card details.
Transfer and renew your insurance policy:

• Policyholder’s details such as name, address, date of

birth, gender, occupation
• Identity proof such as passport/driving
license/Aadhaar card/PAN card/Birth certificate,
10th or 12th marks sheet, etc.
• Proof of address documents (passport/driving
license/bank or post office passbook/government-
issued address proof)
• Passport-sized photograph
• Policyholder’s driving license information
• Old insurance policy number
• Vehicle registration number and registration
certificate (RC) number
 • Credit/debit card/ net banking details.
c.) Claim:
Documents required submitting to the insurance
company to process your claim.

• Original RC copy in case of Theft claim

• Driving license of the driver at the time of the
accident
• Original policy copy
• Duly filled and signed claim form
• Description of the accident
• Canceled cheque to process the payment
• FIR in case of theft claim
• Details of other vehicles involved or any third party
claims which can arise in future
• An estimate of the vehicle repair cost
• Repair bills and payment receipts.