BELAGAVI
The Lokmanya Multipurpose Co-Op Society is launching the new deposit scheme named "Lokmanya Suraksha Samrudhi Deposit" with health insurance (including Covid 19) cover. This scheme is available in two plans, the Suraksha Samrudhi plan and Suraksha Samrudhi Advantage plan. This is a term deposit scheme for a fixed period of 1 year, which offers rate of interest at 8.50% p.a. (simple) with quarterly interest payout.
The key feature of the scheme is that the depositor will get health insurance cover (including Covid-19) of Rs 1 lakh with no extra cost. The minimum amount of deposit permissible under this scheme is Rs 2 lakh (single receipt) thereafter in multiples of Rs 1,000 only. There is no ceiling on maximum amount of deposit that can be lodged.
The depositor under this scheme will be covered under health insurance scheme (Including Covid-19) with sum assured of Rs 1 lakh, with hospitalization benefit of Rs 2,000 per day for 50 days.
However, the depositor can also upgrade to Suraksha Samrudhi Advantage Plan with Single receipt deposit of Rs 2.50 lakh and above with sum assured of Rs 1 lakh with hospitalization Benefit Rs 4,000 per day for 25 days.
In case fixed deposit account is opened in the name of more than one person, the policy will be issued in the name of first holder consent form from the depositor at the time of deposit is mandatory..
Eligibility Criteria for this scheme is members between the age group of 18 to 65 years are only eligible to open a Fixed Deposit Account under this scheme. This scheme is effective will last till July 31.
Pre-mature withdrawal of deposit is not permitted. For this scheme, Lokmanya society has a tie up with ICICI Lombard, and the rules of ICICI Lombard shall be binding in context of claim settlement.
Lokmanya society has a wide network of 213 branches across Karnataka, Maharashtra, Goa and Delhi, for more information investors can contact nearest branch of Lokmanya society.
