SBI account holders can get accidental insurance benefit of Rs 2 lakh. Here’s how


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SBI account holders can get accidental insurance benefit of Rs 2 lakh. Here’s how

New Delhi: India’s largest commercial lender State Bank of India (SBI) is offering its its Jan Dhan account holders accident insurance cover up to Rs 2 lakh if they apply for ‘SBI RuPay Jan Dhan Card’. “It’s time to put yourself on the road to success. Apply for SBI RuPay Jandhan card today,” SBI said in a tweet.

Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a national mission for financial inclusion to ensure access to financial services, namely, banking/ savings and deposit accounts, remittance, credit, insurance, pension in an affordable manner. PMJDY accounts are exempt from maintaining an average monthly balance, said SBI.

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As per SBI, the customer has to swipe their card once in 90 days to avail the accidental insurance cover of up to Rs 2 lakh.

Who is eligible to open Jan Dhan account?

Any Indian citizen, whose age is 10 years or more, can open a Jan Dhan account. You can also transfer your basic savings account to the Jan Dhan Yojana account.

Documents required for opening PMJDY:

1. If Aadhaar Card/Aadhaar Number or proof of possession of Aadhar is available then no other documents are required. If address has changed, then a self-certification of current address is sufficient.

2. If Aadhaar Card is not available, then any one of the following Officially Valid Documents (OVD) is required: Voter ID Card, Driving License, Passport & NREGA Card. If these documents also contain your address, it can serve both as “Proof of Identity and Address”.

3. If a person does not have any of the “officially valid documents” mentioned above, but it is categorized as ‘low risk’ by the banks, then he/she can open a bank account in a Bank Branch by submitting any one of the following documents:

  • a) Identity Card with applicant’s photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks and Public Financial Institutions;
  • b) Letter issued by a gazette officer, with a duly attested photograph of the person.

Minimum balance amount: NIL
Maximum balance amount: No upper limit (For fully KYC compliant account)

Special benefits of Jan Dhan account

  • Interest on deposit.
  • Accidental insurance cover of Rs.1.00 lac (Rs 2.00 lac for new PMJDY accounts opened after 28.08.2018)
  • No minimum balance required.
  • Easy Transfer of money across India
  • Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
  • After satisfactory operation of the account for 6 months, an overdraft facility will be permitted, subject to eligibility criteria.
  • Access to Pension, insurance products.

Under this scheme, account can be opened in any Bank Branch or CSP Outlets. Note that joint account can be opened at branches only.

Source:-timesnownews

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