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SBI Customers can Get up to Rs 2 lakh Free Benefits. Know What You Need to do

State Bank of India or SBI constantly comes up with new solutions for the benefits of its customers. This year, the biggest lender of India has launched a service whereby which, its customers can enjoy free insurance benefits of up to Rs 2 lakh. The nominee can claim the insurance amount even if the mishap occurs outside India. The insurance amount is Rs 1 lakh for customers who opened their accounts before August 28, 2018, whereas, people who opened their Jan Dhan accounts after this date can avail accident death coverage of up to Rs 2 lakh. The scheme is applicable for those who apply for ‘SBI RuPay Jan Dhan Card‘.

To avail the scheme, customers either have to open a Pradhan Mantri Jan Dhan Yojana (PMJDY) account in the bank or they have to have the account from before. Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a financial drive started by the Narendra Modi government to ensure financial inclusion. This is aimed to provide  various financial services like availability of basic savings bank account, access to need based credit, remittances facility, insurance and pension to the excluded sections or people with lower incomes.

“Objective of “Pradhan Mantri Jan-Dhan Yojana (PMJDY)” is ensuring access to various financial services like availability of basic savings bank account, access to need based credit, remittances facility, insurance and pension to the excluded sections i.e. weaker sections & low income groups. This deep penetration at affordable cost is possible only with effective use of technology,” reads the PMJDY website.

“PMJDY is a National Mission on Financial Inclusion encompassing an integrated approach to bring about comprehensive financial inclusion of all the households in the country. The plan envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension facility. In addition, the beneficiaries would get RuPay Debit card having inbuilt accident insurance cover of Rs 1 lakh. The plan also envisages channeling all Government benefits (from Centre / State / Local Body) to the beneficiaries accounts and pushing the Direct Benefits Transfer (DBT) scheme of the Union Government,” adds the website statement.

The customers of the banks are not required to deposit any money while opening their accounts under Jan Dhan Yojana. The account holders also get Rupay Debit cards which have several benefits as well. Apart from life insurance, RuPay debit card holders are eligible for purchase protection benefits and other advantages.

Any Indian citizen is eligible for opening a Jan Dhan account. On the contrary, interest is earned on the deposit in PMJDY accounts.

To get the benefits of accidental insurance cover in SB Jan Dhan account, one has to first fill the claim form, along with which he or she must attach a copy of the death certificate of the person for whom the insurance has to be claimed. The other documents required are a copy of the FIR regarding the accident, mortem report, FSL report, and copy of the deceased person’s Aadhar card. All the documents should be submitted within 90 days of the accident to claim the insurance.

Apart from this, other benefits are also available for PMJDY account holders. “PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Micro Units Development and Refinance Agency Bank (MUDRA) scheme,” reads the official website.

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