Thursday, March 13, 2014

SBI Shubh Nivesh Plan: Review


Shubh Nivesh is insurance cum savings plan of SBI Life. SBI Shubh Nivesh Plan gives three benefits of savings, income, and protection of investment through a single plan. Basically, Shubh Nivesh is an endowment product which gives its investors an option of whole life coverage.

SBI has pinned too much hope on this plan. In fact, if one considers the initial reactions by investors and advisers then this plan is on the way to become a hugely successful plan. The one important aspect of this plan which led to its success is the flexibility of withdrawal that it gives to its investors. Investors can choose the whole amount in a lump sum manner after the maturity or even go for regular income mode according to their needs. Good savings coupled with security of money and regular income has made this plan a success.



Salient Features of Shubh Nivesh Plan

-         The benefits of savings, income, and protection of investment combined in a single financial product
-         The flexibility of withdrawal after maturity
-         Options of both single and premium payment
-         Spectacular terms of risk coverage by making provision for triple riders risk coverage that is, Preferred Term Rider, Accidental Death Benefit Rider, Accidental Total and Permanent Disability Rider
-         Tax benefits


Options for Investors with this Plan

Investors will get two options with Shubh Nivesh
-         Endowment Assurance: This is nothing but the basic option of this plan. It works in the traditional endowment mode. Till the end of the endowment term the investors will be credited with simple reversionary bonuses. The whole sum will be paid to the investor on death or on maturity.
-         Whole Life Endowment: It is the policyholders who have to declare about their choice for the whole life endowment at the commencement of the policy. The sum assured and the bonus accrued will be paid to the policyholders at appropriate time.




Friday, February 21, 2014

SBI Branch Open on Sunday in Delhi



Whether it is corporate or retail banking, State Bank of India (SBI) is the biggest bank of India. No other banks can even dream of matching it. The second bank, ICICI Bank, is behind it by more than 12 percent, if you take number of savings account in consideration. It is the king of retail banking. It is also the lifeline of tier II and III towns, apart from semi-urban areas.

When SBI enjoys more than 20 % of savings account of India, it becomes a challenge for it to maintain the efficiency. How to handle the rising aspirations of retail customers is a conundrum that the management of SBI is engaged with. One of the easiest ways to give great customer satisfaction is by opening some branches of SBI on Sunday. And, SBI in fact does the same. It keeps some branches open on Sunday in all metros and towns.  The management has already declared that it will keep more branches open on Sunday in all cities and towns. However, as of now, very few branches are opened.


SBI Branch Open on Sunday in Delhi

If you are residing in Delhi, you can easily find a SBI branch open on Sunday. If you urgently require information regarding this, call on the customer care number of SBI. The toll free number is 1800 – 221122. However, the customer care executive will only help you, if you are having the branch code. It means if you want whether a bank near you is open on Sunday, you can call them with the branch code.

SBI Vijay Nagar Branch is one branch which remains open on Sunday. This branch is located near the North Campus. To reach this branch, you are required to get down at the GTB Nagar Metro Station. Get a rickshaw from there and the rickshaw puller can take you there. You can also go there walking, the distance is not much.


I must mention here that the working hour of this bank starts from 8:30 AM. Apart from that, if you are not a customer of this branch, you can avail the banking services only till 11 AM. After that only those customers who have account in this branch will be served.