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.

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