Smart Money

Updated: Dec 14 2012, 07:48am hrs
Bharti AXA Life eProtect plan

Bharti AXA Life Insurance has come out with an improved online term insurance plan, Bharti AXA Life eProtect. The life cover for eProtect has been increased to 75 years, with the maximum entry age being 65. The plan gives family care benefit that ensures a release of R1 lakh during times of distress within 48 hours of claim intimation. Bharti AXA Life will offer current customers of eProtect an option to upgrade to the new version at a nominal cost.

Renew policy over phone

Royal Sundaram Alliance Insurance has launched its mobile website,, for renewal of motor, health, personal accident, home and commercial vehicle policies. The site is secured with SSL encrypted payment gateway and offers multiple payment option through mobile. The site is compatible with iPhone 5, Android devices, BlackBerry, Symbian, BADA and other WAP-enabled mobile devices and no downloading or upgrading of versions is required. Currently, the site offers customers the option of renewing existing retail policies. We plan to enhance the WAP site with online purchase of the entire gamut of our retail products, said Ajay Bimbhet, MD, Royal Sundaram Alliance.

IDBI Mutual Fund launches Gilt Fund

IDBI Mutual Fund has launched IDBI Gilt Fund, an open-ended dedicated gilt scheme. The NFO opened for subscription on December 5 and will close on December 17. The units will be available on a par of R10 during the NFO and at NAV-related prices thereafter. The scheme will re-open for continuous sale and repurchase from December 27. The investment objective of the scheme is to provide regular income, along with opportunities for capital appreciation through investments in a diversified basket of central government securities, state government securities, treasury bills and similar other instruments.

ICICI Banks online flexible RD

ICICI Bank has launched an online flexible recurring deposit product called iWish for its savings account customers. It offers customers the flexibility to choose when and how much to save to meet their goals. Unlike a traditional recurring deposit, iWish allows customers to save varying amounts of money at the time of their choice. Customers can create several goals and track their progress on an easy-to-use online interface. They need to log on to their accounts at using their internet banking user ID and password and visit the iWish page. They can start saving with a minimum of R500 with a minimum duration of six months.