Personal Finance Blog India –

IDBI CGAS-1988 Account,LIC’s New Jeevan Nidhi,LIC Flexi Plus,ICICI Prudential Online Child Plan

Here are few new – old news related to Banks,insurance & personal finance.

IDBI Bank CGAS – 1988 Account – IDBI Bank have now authorized to accept deposits under Capital Gain Accounts Scheme – 1988.Assesses can avail the benefits of exemptions from Capital Gains if amount of capital gain is deposited on or before their due dates of filing of returns.The amount of Capital Gain which is not utilized for the specific purposes could be deposited in Special savings account or term deposit account at IDBI bank as per provisions of CGAS 1988.

Last month names of Banks were declared which have authorized to accept deposits under CGAS -1988 provisions.Now IDBI have also added in the list.

LICs New Jeevan Nidhi & Flexi Plus – Two new plans have introduced by LIC considering important months for tax saving instruments.LIC always introduce new plans in the last few months of financial year.LICs Jeevan Nidhi is conventional with profit Pension plan while LICs Flexi Plus is ULIP having choice of different funds.Neither of the option looks convenient for investors in longer term.So better to avoid.

ICICI Prudential Online Child Plan – It seems that insurance companies have started thinking beyond term plans for online¬†platform.LIC was introduced Online Immediate Annuity purchase plan while ICICI Prudential is currently offering online Child Plan- ICICI Prudential Smart Kids….Don’t know exactly when it was started.But I think premium won’t be less in this case unlike to online term plans.

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2 Responses

  1. Kaushal Gandhi says:


    I am single rightnow.. But returned offer by ICICI child care plan is Good. So Am I eligible to invest in the same fund even though I am Single.???

    • admin says:

      Please don’t confused by :
      ICICI Prudential Mutual Fund – Child Care plan.
      ICICI Prudential Life Insurance – Smard Kid Plan – mentioned ABove in post.

      By the way,you are not eligible to apply for ICICI Pru Mutual Funds Child Care plan..
      Child is the ultimate beneficiary of Child plans & having child is mandatory to apply for child plans.But there are similar balanced funds like HDFC Balanced,HDFC Prudence or SBI Magnum Balalced fund & provided by other mutual funds having similar returns.

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