PMSBY will be an accident insurance scheme offering accidental death and disability cover for death or disability on account of an accident. It would be a one year cover, renewable from year to year.
| PRADHAN MANTRI SURAKSHA BIMA YOJANA (PMSBY) | FEATURES |
| Interest Rate | SB interest rate in maintained SB |
| Minimum Balance Requirement | No |
| Auto Sweep Available | No |
| Basic Banking facility | Applicable |
| Eligibility Criteria | Any resident individual Production of KYC documents The applicant should have completed 18 years of age and should not have crossed 70 years |
| Benefits (as per scheme) | A sum assured of 2 lakh is paid upon accidental death and total permanent disability and 1 lakh on permanent partial disability |
| Others | Premium @ Rs 12 per annum per members Premium will be deducted from sb account through auto debit facility |