Kerala Transport Development Finance Corporation (KTDFC) will launch a new fixed deposit scheme enabling the earning children to make a one-time investment in the name of their parents. The scheme will also ensure the parents a monthly payment at a later stage.
The scheme known as Salute, (Symbol of affection, love, understanding, trust and emotion) will be launched by Chief Minister Oommen Chandy at Media Centre, Secretariat Complex, on Wednesday. Power Minister Aryadan Mohammed will inaugurate the Salute campaign.
Health Minister V S Sivakumar will inaugurate the health insurance card distribution. Cine actor Suresh Gopi will distribute silver coins to those who are depositing in the scheme.
KTDFC managing director Ushadevi B said that deposits could be made in the multiples of 25,000 by the children in favour of one or both the parents. The depositor can opt for a lock-in period of five or 10 years.
After the lock-in period, KTDFC will issue monthly payments to the parents for the remaining deposit period opted by the depositor. The interest rate offered is 10.5 per cent at monthly cumulative rate.
KTDFC, in association with Oriental Insurance Company, will also provide health insurance schemes to Salute beneficiaries and depositors, which is optional. By paying an additional Rs 300 along with the deposit amount, annual health insurance cover of Rs 30,000 can be obtained for the depositor/parent. If the cover is required for two to five members, Rs 450 has to be paid as premium. If a single person needs annul cover of Rs 60,000, the premium amount will be Rs 600.
Waiver of pre-acceptance medical checkup, cashless facility, cover of pre-illness are the attraction of the insurance cover. If the earning member of a family dies due to accident, a compensation of Rs 25,000 is available under the policy. ENST’Puram: Kerala Transport Development Finance Corporation (KTDFC) will launch a new fixed deposit scheme enabling the earning children to make a one-time investment in the name of their parents. The scheme will also ensure the parents a monthly payment at a later stage.
The scheme known as Salute, (Symbol of affection, love, understanding, trust and emotion) will be launched by Chief Minister Oommen Chandy at Media Centre, Secretariat Complex, on Wednesday. Power Minister Aryadan Mohammed will inaugurate the Salute campaign.
Health Minister V S Sivakumar will inaugurate the health insurance card distribution. Cine actor Suresh Gopi will distribute silver coins to those who are depositing in the scheme.
KTDFC managing director Ushadevi B said that deposits could be made in the multiples of 25,000 by the children in favour of one or both the parents. The depositor can opt for a lock-in period of five or 10 years.
After the lock-in period, KTDFC will issue monthly payments to the parents for the remaining deposit period opted by the depositor. The interest rate offered is 10.5 per cent at monthly cumulative rate.
KTDFC, in association with Oriental Insurance Company, will also provide health insurance schemes to Salute beneficiaries and depositors, which is optional. By paying an additional Rs 300 along with the deposit amount, annual health insurance cover of Rs 30,000 can be obtained for the depositor/parent. If the cover is required for two to five members, Rs 450 has to be paid as premium. If a single person needs annul cover of Rs 60,000, the premium amount will be Rs 600.
Waiver of pre-acceptance medical checkup, cashless facility, cover of pre-illness are the attraction of the insurance cover. If the earning member of a family dies due to accident, a compensation of Rs 25,000 is available under the policy.
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