Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeewan Jyoti Bima Yojana (PMJJBY) announced by Hon’ble Prime Minister earlier, are under implementation. Now, on the occasion of Raksha Bandhan, three specially designed gift products are being announced by Honourable Prime Minister, which will be purchased from the Banks on payment of specified amount, for gifting the same as detailed below. However, the scheme will be available at all the times, on all festivals and occasions. The scheme is to be launched on 01.08.2015.
Details of the three products are as under:
JEEVAN SURAKSHA GIFT CHEQUE - For Rs. 351/-
SURAKSHA DEPOSIT SCHEME - For Rs. 201/-
JEEVAN SURAKSHA DEPOSIT SCHEME - For Rs.5001/-
1. JEEVAN SURAKSHA GIFT CHEQUE - For Rs. 351/- (A Gift for Composite Insurance Premium Payment for one year under PMSBY and PMJJBY Schemes):
An individual may gift an amount of Rs. 351/- on Raksha Bandhan towards funding of the recipients one time insurance premium for PMSBY and PMJJBY (Rs. 12/- + Rs. 330/- i.e Rs.342/-), with the balance amount of Rs. 9/- to be credited to the savings bank account of the insured. Subsequent insurance premia will have to be deposited by the insurer for continuing the insurance cover.
For One time premium payment
(Amount in Rs.)
Amount(A)
One Year Premium for PMSBY (B)
One Year Premium for PMJJBY (C)
Total (D=B+C)
Balance to be credited in the SB Account ( A-B-C)
351
12
330
342
9
2. SURAKSHA DEPOSIT SCHEME - For Rs. 201/- (A Gift of Fixed Deposit for Payment Of Insurance Premium perpetually under PMSBY Scheme only):
For Perpetual Premium Payment of PMSBY only
(Amount in Rs.)
Total Deposit Amount to be paid (A)
1st Year Premium (B)
2nd Year Premium * (C)
Total Amount of FD (D=A-B-C)
Returns on (D) @ applicable ROI (say 8% p.a)
201
12
12
177
14.16
* To be parked in SB account of the insurer till the date of next premium.
An individual may invest an amount of Rs. 201/- any time during the year for gifting from which:-
Rs. 12/- will be immediately paid to the insurance company as first years’ premium.
Rs.12/- will be parked separately in a SB account of the insurer towards payment of second years’ premium.
Balance amount of Rs. 177/- will be invested in a T.D (Term Deposit) for ten years at the then prevalent interest rate (say 8% p.a) for earning annual interest income of Rs. 14.16 which will be sufficient for annual insurance premiums, at the current rate, up to the date of the Term Deposit.
3. JEEVAN SURAKSHA DEPOSIT SCHEME - For Rs.5001/-(A Gift of Fixed Deposit for payment of Composite Insurance Premium perpetually under PMSBY and PMJJBY):
For Composite Insurance Premium Payment perpetually under PMSBY and PMJJBY
(Amount in Rs.)
Total Deposit Amount to be paid (A)
1st Year Premium (B)
2nd Year Premium * (C)
Total Amount of FD (D=A-B-C)
Returns on (D) @ applicable ROI (say 8% p.a)
5001
342
342
4317
345.36
* To be parked in SB account of the insurer till the date of next premium
An individual may invest an amount of Rs. 5001/- any time during the year for gifting from which:-
Rs. 342/- will be immediately paid to the insurance company as first years’ premium.
Rs.342/- will be parked separately in a SB account of the insurer towards payment of second years’ premium.
Balance amount of Rs. 4317/- will be invested in a T.D (Term Deposit) for Five or Ten years at the then prevalent interest rate (say 8% p.a) for earning annual interest income of Rs. 345.36 which will be sufficient for annual insurance premiums, at the current rate, up to the date of the Term Deposit.
Terms and Conditions:
Maintenance of desired insurance schemes’ premium will be the responsibility of the customer/insured.
Prevailing rate of interest will be paid on the Term/Fixed Deposits.
Extant guidelines related to deduction of tax at source will be applicable on the Term/Fixed Deposit Accounts.
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A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsindbank.co.in and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
General Manager-IT,
Punjab & Sind Bank
Internet Banking
Dear customers,
A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsindbank.co.in and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
