PNB SECURED SAVING SCHEME

PARAMETER

FEATURES

Eligibility

An Individual falling in age group between 18 years to 50 years.

QAB

Rural - Rs. 500/- , Semi Urban- Rs. 1000/-, Urban & Metro- Rs. 2000/-

Documents required for opening of Account

As per Bank’s KYC Policy

Charges for Non-Maintenance of QAB

As prescribed by HO: IRMD from time to time.

Nomination

Allowed

NEFT/RTGS/ IMPS

Free Online

 Internet Banking

Available

Mobile Banking

Available

SMS Banking

Available

Cheque Book

One Cheque book of 25 Leaves free in a Financial Year

Rupay Platinum Debit Card

Available

Facility of Life Insurance

Maximum age at maturity – 65 Years

Insurance Plan Type - Term Plan with Return of Premium Option (TROP).

Under this, Life Coverage is provided at low premium. In case of death (due to natural or accidental reasons), the life cover benefit is provided to the nominee. In case of survival after the

policy term (15 years), the total premiums paid (excluding GST) are refunded back to the insured person.

Premium Payment Mode - Annual

Premium Payment Term - 10 years

Total Coverage (Policy Term) - 15 years

Death benefit Options - Four Options :

1.    INR 3300 per month for 10 years or INR 3 Lakh lumpsum

2.    INR 5500 per month for 10 years or INR 5 Lakh lumpsum

3.    INR 11000 per month for 10 years or INR 10 Lakh lumpsum

4.    INR 16500 per month for 10 years or INR 15 Lakh lumpsum

Maturity Benefit - 100% of all premiums (excluding GST)

Sample Premium Table (for INR 11,000 monthly payout or INR 10 lac lumpsum in case of death)

Age (in years)

40

45

50

Annual Premium (excl GST)

Rs.18,390/-

Rs.26,150/-

Rs.36,970/-

Annual Premium (incl GST)

Rs.19,218/-

Rs.27,327/-

Rs.38,634/-

Total premium paid in 10 years (excl GST)

Rs.1,83,900/-

Rs.2,61,500/-

Rs.3,69,700/-

Death Benefit (2 options)

Monthly Income on death

Rs.11,000/-

Rs.11,000/-

Rs.11,000/-

Total payment under monthly income scheme (120 months)

Rs. 13.20lac

Rs. 13.20lac

Rs. 13.20lac

OR

Total payment under lump sum option

Rs. 10lac

Rs. 10lac

Rs. 10lac

Maturity/Survival pay-out

(100% on survival to PT)

Rs.1,83,900/-

Rs.2,61,500/-

Rs.3,69,700/-

*The participation by the bank customer in Insurance product is purely on voluntary basis.

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