Terms & Conditions for Accidental Insurance facility on Nirbhaya Saving Account:

• Gayatri Nirbhaya Saving Account may be opened: a) By a person on his own behalf. B) By more than one person, payable to them or survivor’ c) By Natural Guardian on behalf of a minor. D) By one person for a minor with the stipulation that the deposit the deposit can duly be withdrawn by the later on his marriage or some other specific time, provided he or she attains majority by the time.
• Gayatri Nirbhaya saving account may be opened with minimum of Rs. 550/- and the same to be maintained to keep the account running.
• All the Gayatri Nirbhaya Saving Account Holder aged between 18 to 60 years, will be covered under accidental Insurance Policy Coverage of Rs. 1.00 Lakh (Accidental Death with in India only) with National Insurance company.
• Commencing after 21 Days of opening of account subject to rules and regulations of National Insurance company under the above policy. Premium of Rs. 50/- per person, will be debited to the account every Year under the policy. The premium once debited is applicable up to the end of march of every year. These charges will be debited two times, In every first year of account opening.
• The claimant should submit the death intimation within 30 days of death, Otherwise claim may be rejected, subject to the terms of NIC Company.
• Claims under the Insurance policy will be settled by National Insurance company subject to the rules and governed under their policy.
• If any new customer is added to the existing account as joint account, the accidental insurance coverage will not be applicable to the newly added in that financial year.

The Bank reserves right to make alterations or additions and deletions to the Rules.