The Hindu Business Line : CUB's multiple benefits plan

Speaking at the launch, Mr S. Balasubramanian, Chairman and Chief Executive Officer, CUB, said that the plan would benefit the bank's middle-class customers.

Some features of the multiple benefits plan include life insurance cover up to Rs 10 lakh with double accident benefit, a demat account without any maintenance, transactional or custodial charges, processing and e-filing of the income tax returns, and an instant loan facility, linked to value of deposits under the plan.

The life insurance cover is provided by AMP Sanmar Life Insurance Company, according to Mr Balasubramanian. He said that in addition to the cover, the insurance premium would be borne by the bank.

The multiple benefits plan is available to those between 18 and 55 years of age, and the customer has the choice of duration from 36 months to 120 months in multiples of 12 months . Non-resident Indians can also open an account on a non-repatriation basis.

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