Central Bank of India, which launched Recurring Deposit Scheme for the first time in the country in 1962, now introducing a Recurring Deposit Scheme with Personal Accident Cover in association with Cholamandalam M.S. General Insurance Company.
Under this scheme, all RD accounts opened from 01.12.2009 onwards with minimum monthly instalments of Rs.500/- for a minimum duration of 2 years will be covered for personal accident insurance. The age of the principal account holder on the date of opening of the account should not exceed 65 years. In case of joint accounts, first named person will be covered under the scheme.
Personal accident insurance cover is available to the extent of double the maturity value of the Recurring Deposit account rounded off to nearest thousand rupees.
Source: https://www.centralbankofindia.co.in/upload/news/RD.doc
CENTRAL BANK OF INDIA LAUNCHES RECURRING DEPOSIT SCHEME WITH PERSONAL ACCIDENT COVER
Labels: BANKING N FINANCE
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