31/10/2021
Hey everyone,
As usual everything was going smooth this day morning, when i woke up from bed, i am just surprised to see my inbox in my mail account that i will be receiving 18 lakhs this evening which is the maturity amount earned by investing in Kotak Mahindra Banking smart investment plan.
I would like to share the story behind this.
In the year 2011, one of the employee approached me to start investing in KOTAK MAHINDRA SMART LIFE Plan, he also gave illustration of the complete plan details. I discussed with family members, and contacted him that i am ready to invest 1 lakh every year.
This is like a 10 years savings plan and giving returns in compounding interest from first year onwards in our bank account directly on our book value. Say for example, if we are planning to invest Rs.1,00,000/- every year for 10 years our book value will be Rs.10,00,000/- the bank is offering 5% returns which means Rs.50,000/- if we choose paid-up-addition method and the returns will be accumulated as bonus every year in our savings bank account.
And, if we choose cash payout method, the bank is offering Rs.30,000/- which means 3% interest as bonus every year and we can withdrawl it every year. Like this, if we pay 10 years, in paid up addition the amount paid by investor is 10 lakhs and the bonus accumulated in compouding interest method is 7 lakhs. So, the total amount will be 17 lakhs at the end of 10th year and they will additional loyalty benefit of 1 lakh.
So, the net amount we can withdrawl is 18 lakhs. Also, if we hold our corpus amount the bank is ready to give interest in compouding method every year till our 75th age.
Additonal In-Built Benefits in this investment scheme !!
For Savings Amount, we can claim for tax which comes under 80C and 80D sections
For Returns withdrawl also we can claim for tax which comes under 10 of 10D act which usually runs in government bonds.
Health Coverage is inbuilt option
Accidental benefit is inbuilt option
Death Benefit
Increasing sum assured with increasing age
Critical illness upto 36 diseases including covid — 19
Permanent Disorder claims
Mode changing option every year and using bonus amount to pay premium every year.
For more details, about the plan im ready to help you..
Please feel free to contact me for further details!
Regards,
Aswath Hari Nagarajan
Brand Ambassador - Kotak Mahindra Banking
+91 7010309224
