SBI Life CSC Saral Sanchay


is an individual, non-linked, non-participating purely life insurance plan that aims to help you achieve your financial goals as well as provides protection from unforeseen events to your family. The plan is a savings cum insurance scheme which is easy to avail and benefit from. The most unique feature of this SBI life insurance plan is that a guaranteed rate of interest of 1% per annum is payable to the policyholder throughout the policy period.

Eligibility Criteria for SBI Life CSC Saral Sanchay:

Listed below are the minimum and maximum entry age for the plan

Policy Term - 10 Years

Policy Term - 15 Years

Age at entry

Minimum Age - 18 years

Maximum Age - 60 years

Minimum Age - 18 years

Maximum Age - 55 years




Key features of SBI Life CSC Saral Sanchay

The table below depicts the key features of the plan.

Plan type

Non-Participating Non-unit-linked insurance plan.

Plan basis


Premium paying terms

Regular Pay

Policy term

10 years and 15 years

Premium payment Mode

Monthly, quarterly, half-yearly and yearly

Grace period

30 days from the expected date of payment of premium

Free Look Period

15 days from the date of availing the policy

Policy revival

SBI Life - CSC Saral Sanchay Plan can be revived with full benefits, within 2 years from the date of the first unpaid premium.


Nomination facility is available under section 39 of the Insurance Act, 1938

Sum Assured

For Regular premium:

For Age at entry less than 45 years: 10 times of Annualized Premium

For Age at entry 45 years and above: 7 times of Annualized Premium

For Top-up premium:

For Age less than 45 years: 125% of top-up premium

For Age 45 years and above: 110% of top-up premium

Note - Age is that at the time of payment of top-up

Policy coverage

Death benefits and maturity benefits.

Death Benefits: In case of death of policyholder, highest of four options A,B, c or D is payable to the policyholder

A. Sum assured payable

B. 105% of total premiums paid

C. Total premiums paid including top-up premiums paid till the date of death compounded at 1.00% p.a.

D. Balance in the IPA

Maturity Benefits: Either of the below option A or B will be payable at the time of maturity

  1. Total premiums paid including top-up premiums paid till maturity compounded at 1.00% interest rate per annum less partial withdrawals made, if any.

B. Balance in the IPA as on the maturity date

Partial withdrawal

Partial withdrawals can be made after completion of 5 policy years

Top-up premiums

Top-up premiums are allowed if all regular premiums are paid up-to-date

Premium Discontinuation

In case of premium discontinuation two cases arise:

  1. Premium discontinuation within 5 years of policy

will cease immediately, policy continues without life cover. Policyholder has the option of reviving the policy within 2 years of discontinuation of premium

  1. Premium discontinuation after 5 years of policy

Life cover continues till the end of revival period of 2 years and in case of death higher of sum assured or balance in IPA is paid.

Policy Charges

Premium Allocation Charge - During the first policy year, 20% from regular premium is deducted before crediting the balance to the IPA. Second year onwards, no deductions are made

Mortality Charge - A nominal mortality charge will be deducted at the start of each policy month


Listed below are some of the most prominent benefits and advantages offered by SBI Life CSC Saral Sanchay.

  • Tax benefits: Policyholders get to avail tax benefits under section 80C of the Income Tax Act for all premiums paid for this insurance policy.
  • Policy loan: Loans are not offered against the SBI Life CSC Saral Sanchay insurance scheme
  • Partial Withdrawal: After 5 years of policy, policyholders are free to partially withdraw from their deposited policy amount

How does the SBI Life CSC Saral Sanchay work

SBI Saral Sanchay is a standard savings cum insurance policy. The policy gives you the flexibility to choose your premium amount and the premium payment frequency. Depending upon the premium paid and the age of the life insurance policyholder at entry, the sum assured is calculated. The premiums accumulate into your Individual Policy Account after policy premium allocation charges are deducted. The policy lets you earn a standard interest rate of 1% per annum per policy year. The sum assured under the SBI Life CSC Saral Sanchay is limited to Rs.2,00,000 and individuals are free to avail more than one policy against their name.

This Insurance Company has not partnered with For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

This Page is BLOCKED as it is using Iframes.