Frequently Asked Questions
This is often the starting point for many customers. They seek guidance on choosing a plan that aligns with their specific needs, budget, and financial goals.
Customers want to understand the value proposition of life insurance. They inquire about coverage, investment options, tax benefits, and other advantages.
Determining the right amount of coverage is crucial. Customers often ask for calculations and recommendations based on their income, dependents, and financial obligations.
Customers are concerned about the claim settlement process. They want to know the steps involved, required documents, and the time frame for receiving the claim amount.
This is a fundamental question that many people struggle with. While both offer coverage for medical expenses, there are subtle differences in terms of coverage, benefits, and exclusions. Clearly explaining these distinctions will help potential customers make informed decisions.
The waiting period is a crucial aspect of health insurance that often confuses people. Explain what it is, the different types of waiting periods (for pre-existing diseases, maternity, etc.), and what is covered during this period to manage customer expectations.
Family floater plans are popular, but many people misunderstand how the sum insured is shared among family members. Clearly explain the concept of a sum insured, how it’s utilized for different family members, and the benefits of such a plan.
People often overlook the exclusions part of the policy. Highlight the common exclusions like pre-existing diseases, maternity, and specific treatments to prevent misunderstandings and claims rejections later.
A mutual fund is a pool of money collected from multiple investors to invest in stocks, bonds, or other securities. A professional fund manager handles these investments. When you invest in a mutual fund, you buy units of the fund. The value of these units fluctuates based on the performance of the underlying investments.
- Equity Funds: These funds invest primarily in stocks. They are generally considered riskier but have the potential for higher returns.
- Debt Funds: These funds invest in debt securities like bonds, government securities, etc. They are generally considered less risky than equity funds but offer lower returns.
- Hybrid Funds: These funds invest in a mix of equity and debt securities. They offer a balance of risk and return.
Most mutual funds have a minimum investment amount, which can be as low as Rs. 500 or Rs. 1000. Additionally, you can start investing with Systematic Investment Plans (SIPs) where you invest a fixed amount regularly.
Like any investment, mutual funds carry risks. The value of your investment can go up or down depending on the performance of the underlying securities. It’s important to understand the risk profile of the fund before investing. Diversification across different funds can help manage risk.
A Company or Corporate Fixed Deposit is safe investment option provided for corporate customers. Under this scheme, a minimum deposit accepted is ₹10,000.
The minimum period for PNB Housing Fixed Deposit is twelve months
Basic KYC documents like PAN and Aadhaar are needed to open a fixed deposit with PNB Housing
No, only Tax Saving FDs provided by banks can be used for tax deduction under Section 80C. There is a lock- in for 5 years in such tax saving fixed deposit
A home loan is essentially a financing option where funds are provided to an individual or an entity for the purchase, construction, extension, or renovation of a residential or commercial property. Lenders provide funds upfront, and borrowers repay through monthly installments, usually over many years. It’s crucial for prospective homeowners to understand the terms, interest rates, tenure, and eligibility criteria before applying.
Home Loan eligibility is determined by factors like age, income, employment stability, credit score, existing financial obligations and nationality. applicants aged 20-65 (salaried) or 21-70 (self-employed), with a minimum income of Rs 25,000, stable employment or business record, a good credit score of 700+, and Indian nationality are eligible. These parameters ensure a comprehensive assessment aligning with the bank’s policies and regulations.
A Loan Against Property is a Secured Loan, where you can mortgage your residential, commercial or special use property to get immediate funds for any purpose, ranging from business expenditure to personal needs. In LAP, the property you own, which has a clear title, is kept with Bank as a collateral or security, to help you get financial assistance
- When it comes to a Loan Against Property eligibility, Against Property is available for salaried individuals between the age of 25 to 65, who want to fund wedding expenses, child’s education, medical treatment, property purchase, debt consolidation or for any other purpose.
- The Loan facility is also available to self-employed individuals who have their own business or practice. The minimum age is 25 and the maximum is 65, when it comes to a Loan Against Property’s eligibility.
- Bank LAP is also tailored to meet the needs of medical professionals. This category of customers can easily qualify for the Loan and get an Instant Loan Against Property approval on the loan amount.
- Doctors are eligible to get a Loan amount up to 75% of their property value. They can use the funds for buying medical equipment, expanding their operations, buying a second home and more.
- The funding is also available for industrial or any other special use properties, for a tenure of up to 10 years.