PNB Family Suraksha Bachat Khata

The Family Suraksha Bachat Khata (PNB) is a savings account with insurance, designed to support families with monthly income in case of the account holder's (breadwinner’s) unfortunate death.

Updated On - 05 Sep 2025
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Punjab National Bank(PNB) and PNB MetLife India Insurance Company Ltd. (PNB MetLife) have collaborated and have launched the Family Suraksha Bachat Khata. The account has flexible options for the one opening the account - from choosing the premium he/she wishes to pay to the return of premium policy.

Features and benefits of the Family Suraksha Bachat Khata:

  1. The Family Suraksha Bachat Khata savings account can be opened by any individual who wishes to have his/her family protected in case of an accidental death.
  2. The minimum age to apply for the Family Suraksha Bachat Khata savings account is 25 years and the maximum age is 60 years. The maximum age is 60 years as the policy term is for 15 years.
  3. The maturity age for the insurance policy is when the individual has reached the age of 75 years (maximum age to hold an insurance policy).
  4. At the end of the policy term (15 years), the individual is eligible for the return on premium - at 110% of the premium paid through the course of the term.
  5. The individual can choose if he/she would like to have a term of 10 years or 15 years.
  6. One can also choose to pay the premium either monthly or annually.
  7. Family Suraksha Bachat Khata savings account customers can choose their monthly income - either Rs.10,000 or Rs.25,000. They have the option of choosing their premium amount, the policy term and the type of cover they wish to have - in case of the death of the account holder.
    1. For those individuals investing a maximum of Rs.10,000 monthly, they are liable to a return on premium of Rs.14.20 lakh for 10 years and Rs.12 lakh for a period of 15 years.
    2. Individuals investing a maximum of Rs.25,000 a month, are liable for a return on premium after maturity of Rs.35.50 lakh for 10 years and Rs.30 lakh for a term period of 15 years.
  8. No medical check-up reimbursements are available with the Family Suraksha Bachat Khata savings account.
  9. Customers are given the advantage of a free look period of 15 days, to decide on the type of premium, term policy and the type of coverage they wish to opt for.
  10. Customers who maintain an average quarterly balance of Rs.50,000 are granted a free Platinum debit card. The Platinum debit card comes with a daily enhanced withdrawal limit at ATMs and spending amount at merchant establishment.
  11. For customers that own the account and have committed suicide, there will be no coverage for the first year. In this case, the premium will be debited from the savings account of the demised individual.
  12. Families of the demised account holder are guaranteed a regular monthly income for 20 years after the death of the individual.

Eligibility for the Family Suraksha Bachat Khata savings account:

Any individual that is a resident of India and wishes to opt for family protection is eligible for the Family Suraksha Bachat Khata savings account. The Family Suraksha Bachat Khata is a savings account cum insurance policy, and those willing to adhere to the norms of the policy and having valid documents are eligible.

Documents required to apply for the Family Suraksha Bachat Khata savings account:

  1. Customers opting for the Family Suraksha Bachat Khata savings account will have to first fill in the application.
  2. Following this, he/she would be required to submit the following documents:
    1. Identity proof as per KYC norms - Aadhaar card, Passport, Voter's ID, etc.
    2. Address proof as per KYC norms - Passport, Driver's license, Voter's ID, etc.
  3. Next, the applicant would be required to submit recent passport size photographs.
  4. He/she would then need to fill in the form pertaining to the type of insurance policy he/she wishes to opt for.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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