(An Insurance Linked Deposit Account)
Minimum Amount: Rs.1,110/- initial Deposit.
A minimum of Rs.1000/- shall always be maintained in the account to derive the benefit of the Scheme.
Period & Risk Coverage: The risk shall commence from the time and date of opening of a/c. The insurance coverage will be available to all JPSB accounts for a period of 3 years from the date of opening of account provided the minimum balance of Rs.1000/- is maintained up to 3 years. The risk arising out of accident alone would be covered under the Scheme i.e., the risk will not be covered by natural death. In case of occurrence of more than one accident, the Insurance risk coverage is to the maximum of Rs.1.00 lakh only.
Rate of Interest: 4.00% as applicable to SB accounts.