State Bank of Travancore (SBT) has entered into a tie-up with United India Insurance for providing personal accident insurance cover of Rs 5 lakh to its savings bank account holders at a subsidised premium of Rs 50 per annum per account holder.
The premium would be 0.01 per cent of the sum assured and works out to 14 paise a day for a cover of Rs 5 lakh. The scheme will initially be available at 101 select branches of SBT and by January 2009, it will be available at all the 715 branches of the bank across the country, a bank release stated.
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