Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY):
For implementation of PMJJBY scheme, Bank has entered into MOU with LIC of India on 20.04.2015.
The PMJJBY scheme was announced by Govt. in the budget 2015-16. The scheme is offering life insurance cover of Rs. 2.00 lakh for death due to any reason & the premium should be Rs. 436/- per annum per member.
The premium will be deducted from the account holders Saving bank account through ‘auto debit’ facility & due on 31st May every year.
Age Eligibility :- 18 to 50 Years
Policy Period :- 01st June to 31st May
Lien period of 30 days shall be applicable from date of enrollment.