Introduction SBI Life - Nidhi Raksha RP is a unique Plan which will help protect and grow your customer’s savings. This Plan is an excellent tool to ensure that your customer’s savings will accumulate as originally planned, even in the unfortunate event of his/her demise. The powerful protection under this Plan will thus lend a competitive edge to your savings products.
Offered to deposit holders of the master policyholder (bank/financial institution)
Cover is available for a term of 1 to 10 years, subject to a maximum cease age of 70 years (age as on last birthday).
Sum Assured starting from as little as Rs.5,000/-, with no maximum limit.
A transparent plan, where the benefit available at any point of time is clearly defined in the Certificate of Insurance (COI) issued to the insured group member.
Cost effective insurance ideally suited to protect planned savings
Nomination facility available for each member
Simple joining process
*Certain features may differ for different Master Policies.
Premium Illustration of SBI Life - Nidhi Raksha RP Premium Illustration:
SBI Life - Nidhi Raksha RP
Master Policy Holder
A leading Bank
Nature of deposit
Recurring Deposit Account
Age of group member (male)
Regular Monthly Installment
Rate of Interest
Term of deposit
Maturity Value of deposit as per original schedule
Rs. 1,13, 709/-
Initial Basic Premium Amount
Rs.375/-(based on 0.332% of sum assured)
Yearly Regular Premium Amount^
0.332% X (Maturity Value of deposit as per original schedule – Accumulated balance in deposit at beginning of each year)
* Applicable Service Tax and Education Cess will be charged additionally
These Basic Premium rates and Benefits are merely for illustration purpose.
Premium Rates depend on the characteristics of the group, rate of interest, term of deposit, age and other parameters, and hence will need to be specifically quoted for any bank/financial institution. For specific quotation, please contact SBI Life.
Please note that individual deposit holders interested in the product can be enrolled only through their bank/financial institution.
Please refer to the brochure for details of this Plan. Grant of cover shall be subject to underwriting.