This FD+COVID-19 insurance cover will enable the insured to claim 100 percent of the sum-insured, in case they test positive.
Yes Bank in partnership with Reliance General Insurance announced the launch of FD+COVID-19 cover for new fixed deposit (FD) holders. People investing in FDs of Rs 1 lakh and above at an interest rate of 7.25 percent, for a minimum period of one year and above from May 15, 2020 to June 30, 2020 can avail this offer, the lender said in a statement.
"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 lump-sum benefit of Rs 25,000 to beneficiaries on being tested positive for COVID-19,” it said.
This FD+COVID-19 insurance cover will enable the insured to claim 100 percent of the sum-insured, in case they test positive. For a deposit booked with the 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 a period of one year, according to Yes Bank.
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 or by contacting their relationship manager or branch service team," the bank added.
First Published: IST