Prime Minister Suraksha Bima Yojana (PMSBY)
- Bank has executed MOU with UIIC (United India Insurance Co. Ltd.) on 21.4.2015 to implement this scheme.
- PMSBY was announced during Union Budget 2015-16 under which Rs. 2 lakh will be paid in case of accidental death and total permanent disability. In case of partial disability, the coverage would be to the extent of Rs.1 lakh.
- Eligible age group 18 to 70 Years old.
- The premium of Rs. 12/-+ S.T extra per annum (Insurance Premium Rs. 10/- + Rs. 1/- for BCs/Corporate/Agent+ Rs. 1/- for Bank as admin expense) will be auto debited from the account holder’s account. The premium is payable every year on 31st of May and insurance cover will start from 1st June.
PMSBY Consent - Cum - Declaration Form