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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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