AU Small Finance Bank has inked a Memorandum of Understanding (MoU) with Life Insurance Corporation of India (LIC) to offer Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Under the MoU, the country’s largest insurer will give a life cover of Rs 2 lakh in case of death to the customer at a nominal premium of Rs 330 per annum.
Besides, the company will also offer loans under government’s affordable housing and subsidy schemes like Pradhan Mantri Awas Yojana. The customers can avail loans up to Rs 1 crore.
AU Small Finance Bank is Jaipur Rajasthan based non-banking finance company focused on retail segment serving low and middle income individuals and businesses that have limited or no access to formal banking and finance channels.
