YES BANK in partnership with Reliance General Insurance 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, 2020 to June 30, 2020.
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
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 per cent 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 a period of 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 support 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.