Details of PM Suraksha Bandhan yojana (PMSBY)

PM Suraksha Bandhan yojana

KEY POINTS

• This scheme will brothers to offer gift cards of different monetary denominations that safeguard the futures of their sisters.
• Launched on : August 1, 2015 on Raksha bandhan.
• Number of gift cards & worth :
  3 & 201 , 351 , 5001 rupees.
• Benefits :
  Money is just deposited which can be withdrawn from the account for immediate use
  Money is deposited and used for paying premiums and creating term deposits for a period of 10 years
• Names of Insurance schemes involved :
  Gift card worth Rs 201 coverd under only Pradhan mantri suraksha bima yojana (PMSBY)
  Gift card worth Rs 351 & 5001 coverd under both Pradhan mantri suraksha bima yojana (PMSBY) & Pradhan mantri jeevan jyothin bhima yojana (PMJJBY)
• interest rates & Eligibility :
  8 % per annum
  1. Recipients age must be in between 18 to 50 years
  2 . Recipents must have enroll PMSBY or PMJJBY using only single bank account
  3. Term deposits under PMSBY will have TDS deductions.f
• Gift cards availability :
  PMSBY will remain open for entire year.
  A single receipent can receive any number of cards but deposited in single bank account

AIM

• PMSBY is to add some other value to the custom of gifts exchange.

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