281059 SIP myths you must know!

State Bank of India, the biggest commercial bank in the country that has also got formidable presence the Jan-Dhan segment, is offering Rs 2 lakh accident insurance cover if they apply for SBI RuPay Jan-Dhan card.

The bank has been tweeting about the insurance cover in this category of cards regularly.

“Follow the road to success with Rupay Jandhan Card. IT also gets you covered so that you can focus on what matters most,” the bank tweeted.

SBI has issued 38.87% of the 30.91 crore RuPay cards issued to Jan Dhan beneficiaries.

As many as 30.44% of the total 12.85 crore Jan-Dhan beneficiaries have accounts with SBI. The bank also accounts for 25.67% of the total deposits of Rs 1.46 lakh crore deposited in Jan Dhan accounts.

The Pradhan Mantri Jan Dhan Yojana is the flagship financial inclusion programme of the government the aim of which is to have every adult in the country open a bank account.

The Jan Dhan accounts don’t require a minimum balance apart from offering the accident coverage.

After the account is operated satisfactorily for 6 months, an overdraft facility might also be offered subject to eligibility criteria.

Those who get financial assistance from government welfare schemes get the cash injected directly into these accounts.

Anyone above the age of 10 years can open a Jan Dhan account.

The Aadhaar Card will suffice as proof of address and identity and no other proof is needed to open an account. Self-certification will do if the address has changed.

In case Aadhaar card is not available, any one of the following documents might work: Voter ID Card, Driving License, Passport and MGNREGA card would suffice as both proof of address and identity.