NE BUSINESS BUREAU
MUMBAI, MAY 16
YES BANK in partnership with Reliance General Insurance, on Friday, announced the launch of FD + COVID-19 Cover for new Fixed Deposit (FD) holders investing in FDs of Rs. 1 lakh and above per customer at an interest rate of 7.25%, for a minimum period of one year and above from May 15 to June 30, 2020, a bank release said.
With this unique dual proposition, YES BANK FD holders can stay covered for COVID-19 expenses, while continuing to earn on their savings. The insurance cover provides a lump-sum benefit of Rs. 25,000 to beneficiaries on being tested positive for COVID-19. The benefits of this cover vis-à-vis traditional policies include no mandatory hospitalization, which enables the insured to claim 100 percent of the sum insured, in case they test positive. For a deposit booked with YES BANK, the FD holder will be provided with an insurance certificate offered by Reliance General Insurance and the Bank will pay the premium on behalf of these customers for one year. Customers can avail only one policy cover against their FD, irrespective of the number of FDs booked.
All resident individual account holders aged between three months to 60 years can book new FDs either digitally, from the safety and comfort of their home or by contacting their Relationship Manager or Branch Service team.
In line with the Bank’s commitment to supporting customers during these unprecedented times, YES BANK had recently launched COVID-19 Protection Insurance Cover, a voluntary benefit policy being offered as a group cover to YES BANK customers, in partnership with Reliance General Insurance. The Bank has received an overwhelming response from customers and continues to work alongside the Government and health authorities to offer support to customers and communities.
