How ECS Works

Tax Saving Mutual Funds Online

Current open Infra Bond Application form

  To avail the facility of paying premiums through ECS, the policyholder has to fill an ECS mandate form which can be procured online or from the insurance firm. Once the customer has filled the form and submitted the same with a cancelled cheque to the insurance company, the rest of the formalities are taken care of by the insurance company with the bank. By doing so, the policyholder authorises the bank to deduct the premium on the due date. Once the ECS facility is activated and the premium amount starts getting deducted from the policy holder's account, the customer gets receipt notifications from the insurance company.

 

ECS facility is currently offered in select cities which vary for each insurer. Typically, most of the large- and mini-metros and Tier II cities are covered .

ECS payments can only be made on a policy on which there is no overdrawn premium. Also, one must keep in mind that sufficient balance is to be maintained in the bank account. One can set the maximum amount that can be debited from the account and also set the validity period for the mandate. In case the customer wishes to discontinue the policy or simply switch back to regular means of payment (other than ECS) he can do so by sending a written application to the insurer as well as the bank.

When you deploy ECS payment mechanism, this also leads to improvement in efficacy levels of insurance firms by reducing administrative work and cost, and enables them to provide superior service. Planning and automating premium payment through this route is indeed an ideal solution for today's busy consumers.

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

1. HDFC TaxSaver
2. ICICI Prudential Tax Plan
3. DSP BlackRock Tax Saver Fund
4. Birla Sun Life Tax Relief '96
5. Reliance Tax Saver (ELSS) Fund
6. IDFC Tax Advantage (ELSS) Fund
7. SBI Magnum Tax Gain Scheme 1993
8. Sundaram Tax Saver

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Application form for Tax Saving Infrastructure Bond and more information

Current open Infra Bond Application form

Submit filled up application Collection canter near you