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Pradhan Mantri Suraksha Bandhan Yojana – All Details

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Pradhan Mantri Suraksha Bandhan Yojana – All Details, Find Complete details for PMSBY Scheme, India being a nation of festivals celebrates its rich traditional methods of bringing joy and peace to the lives of people. There have been a number of festivals in India which stand as a symbol of relationship between brothers and sisters. Raksha bandhan Which is called as Rakhi poornima in some parts of southern India is fest where a brother is tied a raksha by his sisters as a vow of protection and gift something to them. In August 2015 the prime minister of India has unveiled a scheme called “Suraksha Bandhan”.Lets have a discussion on this.

Pradhan Mantri Suraksha Bandhan Yojana :

1.Objective :

Many schemes have been started by the government Of India led by Shri Narendra Modi. Among these Suraksha Bandhan scheme could be described as a unique being signifying the relationship between the brother and sister. The main purpose of introducing this scheme is to strengthen the social security of women by way of encouraging the brothers to gift this scheme to their sisters widening the financial inclusion.

Must Read – Complete Details for National Pension Scheme

2. Features :

This scheme is mainly driven by Jeevan Suraksha Gift Cheques issued by various banks. One who wants to gift these to their beloved ones can buy these from the banks directly and gift them to their sisters. The person who receives this cheques can visit their banks and deposit them into their account. Currently they are available with only those bankers who are offering PMSBY and PMJJBY.

3. Denominations:

These cheques are available in 3 denominations as Rs 201, 351 and 5001.

Suraksha bandhan Rs.201 gift card:

In this out of the total 201 Rs 12 per annum will be allocated to the insurance premium towards Pradhan Mantri Suraksha Bima Yojna for two years. And the balance amount will be set aside as fixed deposit earning an interest of 8% p.a. The interest earned as such will be used to pay the premium of Pradhan Mantri Suraksha Bima Yojna, which gives a coverage of 2,00,000 accidental insurance.

Pradhan Mantri Jeevan Suraksha Deposit Scheme Rs.201.
Total PMSBY Premium-Year 1 PMSBY Premium-Year 2 Balance (FD)
RS 201 RS 12 RS 12 RS 177

Must Read – Pradhan Mantri Mudra Yojana (Pmmy) – Complete Details

Suraksha bandhan Rs.351 gift card:

This gift will provide two insurance benefits : accidental and life. Out of Rs 351 gift cheque bank will deduct Rs 12 per annum towards insurance premium of  Pradhan Mantri Suraksha Bima Yojna which gives an accidental insurance cover for RS 2,00,000. Rs.330 will be deducted from Gift Card as a one-year premium of Pradhan Mantri Jeevan Jyoti Bima Yojana. This covers the Life Insurance for Sum Assured of Rs.2,00,000. Balance Rs.9 (Rs.351-Rs.12-Rs.330) will be deposited into a savings account of the person who deposited the cheque. From second year onwards they have to pay the insurance premium on their own.

Pradhan Mantri Jeevan Suraksha Deposit Scheme Rs.351
Total PMSBY Premium PMJJY Premium Balance (FD)
RS 351 RS 12 RS 330 RS 9

Must Read – Pradhan Mantri Mudra Yojana (Pmmy) – Complete Details

Suraksha bandhan Rs.5001 gift card:

This gift will also provide two insurance benefits: accidental and life. Out of Rs 5001 gift cheque, bank will deduct Rs 12 per annum towards insurance premium of  Pradhan Mantri Suraksha Bima Yojna which gives an accidental insurance cover for RS 2,00,000. Rs.330 will be deducted from Gift Card as a one-year premium of Pradhan Mantri Jeevan Jyoti Bima Yojana. This covers the Life Insurance for Sum Assured of Rs.2,00,000. Balance Rs. 4317 (Rs.5001-Rs.12-Rs.330) will be deposited into a savings account of the person who deposited the cheque. The interest earned by this deposit 8% p.a will be used for meeting the insurance premium of subsequent years.

Pradhan Mantri Jeevan Suraksha Deposit Scheme Rs.5001
Total PMSBY Premium PMJJY Premium Balance (FD)
RS 5001 RS 12 RS 330 RS 4317

The last date for enrolling this scheme was September 30, 2015.

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