“The Insurance scheme provides a cover of Rs. 2 lakh against death/permanent disability caused due to accident, at an annual premium of Rs. 12.
All Savings Bank account holders in the age group of 18 to 70 years are entitled to join the scheme. The scheme commences from June 1, 2015. Customers of Federal Bank can join the scheme by submitting the duly filled in consent cum declaration form at their branches before May 31, 2015.
Source : Thehindubusinessline