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Capital SFB

Pradhan Mantri Suraksha Bima Yojana


Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurance scheme in India. PMSBY is an Accident Insurance Scheme offering accidental death and disability cover for death or disability on account of an accident up to ₹2,00,000. It provides one-year cover, which is renewable from year to year. Individuals of the age group between 18-70 years having a Savings Account can subscribe to this scheme. This Scheme is beneficial to all the sections of the society with the premium of ₹20/- per annum.

Capital Small Finance Bank Limited has partnered with "The Oriental Insurance Company Limited" under Group Policy Number: 233103/48/2024/38 to provide Pradhan Mantri Suraksha Bima Yojana for a Policy period 1st July 2023 to 31st May 2024, where Capital Small Finance Bank is the master policy holder.

Master Policy Holder

Capital Small Finance Bank is the master policy holder.


All individual bank account holders in the age group of 18 to 70 years in bank will be entitled to join the scheme. In case of multiple bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one bank only. Aadhar would be the primary KYC for the bank account.

Sum Insured: as mention below

Enrollment Period Amount of premium
a. Death ₹ 2 lakh
b. Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot ₹ 2 lakh
c. Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot ₹ 1 lakh

Enrolment Period: The accidental death / disability cover period will be from 1st June to 31st May of next year. Subscriber can join the scheme anytime in this period and give consent for auto debit of premium. Along with enrolment, subscriber is also required to give consent for auto-debit of the renewal premium. The renewal premium is debited before 1st June of every year.

Premium: ₹ 20/- per annum per member. The premium will be deducted from the account holder’s Savings Account through ‘auto debit’ facility in one instalment on or before 1st June of each annual coverage period under the scheme. However, in cases where auto debit takes place after 1st June, the cover shall commence from the date of auto debit of premium.

Start Date of Risk Coverage: Coverage of risk will start from the date of auto-debit of premium from the account of subscriber.

Eligibility Conditions: The Savings Account holders of the bank aged between 18 years (completed) and 70 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the above modality, will be enrolled into the scheme.

Termination of Cover

The accident cover for the member shall terminate on any of the following events and no benefit will be payable there under:

  • On attaining age 70 years (age nearest birthday). However, basis the clarification dated August 11, 2023 from Ministry of Finance & further shared by insurance company, the claim admissibility will be considered as under:
Claim Admissibility
Age as on date of death/Accident Eligibility to admit the claim
Up to 70 years / Above 70 Years Eligible up to the policy tenure.
  • Closure of account with the Bank or insufficiency of balance to keep the insurance in force.
  • In case a member is covered through more than one account and premium is received by the insurance company inadvertently, insurance cover will be restricted to one only and the premium paid for duplicate insurance shall be liable to be forfeited.
  • If the insurance cover is ceased due to any technical reasons such as insufficient balance on due date or due to any administrative issues, the same can be reinstated on receipt of full annual premium, subject to conditions that may be laid down. During this period, the risk cover will be suspended, and reinstatement of risk cover will be at the sole discretion of insurance company.

How to apply for PMSBY ?

Visit your nearest branch: To begin the process, bring your KYC documents and passport-sized photographs to your nearest branch. You can fill out the application form at the branch to get started.

Customer Care: Call us at 1800 120 1600, one of our representatives will get in touch with you.

Email: Mail us as at lead@capitalbank.co.in with your Name, Contact Number, Address & Message. One of our representatives will get in touch with you.


Apply Now

The cover is subject to exclusions of the policy.