Good News for SBI Customers! Account Holders to Get Free Benefits worth Rs.2 lakh; Details Inside

There is good news for customers of the country's largest bank – State Bank of India (SBI). SBI is providing free benefit of Rs.2 lakh to its clients. All bank customers would be pleased to know that RuPay is offering complimentary accidental cover of up to Rs.2 lakh to all Jan-Dhan account holders who use debit cards.

Customers will receive insurance coverage of up to Rs.2 lakh

SBI will determine the amount of insurance based on the time since the opening of the customer’s Jan Dhan account.  Customers who opened Pradhan Mantri Jan Dhan Yojana (PMJDY) account till August 28, 2018, would be eligible for insurance coverage of up to Rs.1 lakh on the RuPay PMJDY card. Those who received a RuPay card after August 28, 2018, would be eligible for an accidental cover benefit of up to Rs.2 lakh.

Who will benefit from SBI’s Rs.2 lakh scheme?

The Pradhan Mantri Jan Dhan Yojana is a scheme that allows the impoverished of the country to open accounts in banks, post offices, and nationalized banks on zero balance. Under the Pradhan Mantri Jan Dhan Yojana (PMJDY), various facilities are provided to the customers. As a part of this scheme, anyone can open a Jan Dhan account by submitting (KYC) documents online or by going to the bank. 

Furthermore, anyone can change their savings bank account to Jan Dhan RuPay is given on behalf of the bank in this case. This debit card may be used to acquire accidental death insurance, security cover, and a variety of other benefits.

The benefit of this accidental death insurance under the Jan Dhan account holders' RuPay debit card can be availed when the insured has completed any successful financial or non-financial transaction on any channel, both intra or inter-bank, within 90 days from the date of the accident. Only in such a situation, the person can get the amount.

What is the procedure to avail benefit?

To obtain the claim, you must first fill out the claim form. It should be accompanied by either the original death certificate or a certified copy. Please include an original or certified copy of the FIR. A post-mortem report, an FSL report, and a copy of your Aadhaar card are also required. The cardholder must provide an affidavit of possessing a RuPay card on bank stamp paper.

All of these documents must be provided within 90 days after receiving them. The nominee's name and bank details, as well as a copy of the passbook, must be submitted.

List of documents required to avail the SBI benefit:

• Insurance claim form.

• A copy of the death certificate.

• A copy of Aadhaar card of the cardholder and the nominee.

• If the death is due to another cause, a copy of the post-mortem report with chemical analysis or a FSL report.

• Original or certified copy of FIR or police report giving all details about the accident.

• Declaration duly signed and stamped by the authorized signatory of the card-issuing bank.

• It should have the name of the bank officer and contact details along with the email id.