SBI joins hands with NICL to offer non-life cover under PMSBY

Country's largest lender State Bank of India today entered into a tie-up with the National Insurance Company (NICL) to offer non-life cover to its savings account holders under the Pradhan Mantri Suraksha Bima Yojana (PMSBY).

The bank will offer personal accidental death and disability cover of Rs 2 lakh under the scheme, it said in a release.

The customer will have to pay an annual premium of only Rs 12. All the savings account holders in the age group 18 to 70 years will be eligible for the cover.