| Eligibility | An Individual falling in age group between 18 years to 50 years. |
| QAB | Rural – Rs. 500/- Semi Urban- Rs. 1000/- Urban & Metro- Rs. 2000/- |
| Documents required for opening of Account | As per Bank’s KYC Policy |
| Charges for Non-Maintenance of QAB | As prescribed by HO: IRMD from time to time. |
| Nomination | Allowed |
| NEFT/RTGS/ IMPS | Free Online |
| Internet Banking | Available |
| Mobile Banking | Available |
| SMS Banking | Available |
| Cheque Book | One Cheque book of 25 Leaves free in a Financial Year |
| Rupay Platinum Debit Card | Available |
Facility of Life Insurance
- Maximum age at maturity – 65 Years
- Insurance Plan Type – Term Plan with Return of Premium Option (TROP).
- Under this, Life Coverage is provided at low premium. In case of death (due to natural or accidental reasons), the life cover benefit is provided to the nominee. In case of survival after the policy term (15 years), the total premiums paid (excluding GST) are refunded back to the insured person.
- Premium Payment Mode – Annual
- Premium Payment Term – 10 years
- Total Coverage (Policy Term) – 15 years
Death benefit Options – Four Options :
- INR 3300 per month for 10 years or INR 3 Lakh lumpsum
- INR 5500 per month for 10 years or INR 5 Lakh lumpsum
- INR 11000 per month for 10 years or INR 10 Lakh lumpsum
- INR 16500 per month for 10 years or INR 15 Lakh lumpsum
Maturity Benefit – 100% of all premiums (excluding GST)
Sample Premium Table (For INR 11,000 Monthly Payout Or INR 10 Lac Lumpsum In Case Of Death)
| Age (In Years) | 40 | 45 | 50 | |
|---|---|---|---|---|
| Annual Premium (excl GST) | Rs.18,390/- | Rs.26,150/- | Rs.36,970/- | |
| Annual Premium (incl GST) | Rs.19,218/- | Rs.27,327/- | Rs.38,634/- | |
| Total premium paid in 10 years (excl GST) | Rs.1,83,900/- | Rs.2,61,500/- | Rs.3,69,700/- | |
| Death Benefit (2 options) | Monthly Income on death | Rs.11,000/- | Rs.11,000/- | Rs.11,000/- |
| Total payment under monthly income scheme (120 months) | Rs. 13.20lac | Rs. 13.20lac | Rs. 13.20lac | |
| OR | ||||
| Total payment under lump sum option | Rs. 10lac | Rs. 10lac | Rs. 10lac | |
| Maturity/Survival pay-out(100% on survival to PT) | Rs.1,83,900/- | Rs.2,61,500/- | Rs.3,69,700/- | |