Suraksha Bandhan Government Scheme for Social Security

Suraksha Bandhan Government Scheme

What is Suraksha Bandhan Scheme? How it pushes to Social Security – Participating Banks and Insurance Companies.


On the occasion of Raksha Bandhan, the Indian government launched a particular drive named as “Suraksha Bandhan”. This scheme is initiated to promote the social security. Under the Suraksha Bandhan Scheme, people can gift social security plan to their loved ones. One can do this using gift cheque and special deposits.


Participating Banks and Insurance companies organized different drives from August to September. During the festival of Raksha Bandhan as brothers give gifts to their sisters, people will be able to gift social security social security schemes to their loved ones under this project. To avail the facility, one should visit the enrollment drive centres.


Jeevan Suraksha Gift Cheque will be the primary entity in this entire programme. Jeevan Suraksha Gift cheques will be available to purchase for Rs. 351 in bank branches. The persons who desire to gift the social security schemes will go for its purchase. The payment of Rs. 351 for Gift cheques will cover one-year payment of the premium of Pradhan Mantri Suraksha Bima Yojana (PMSBJ) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).

Calculation for Suraksha Bandhan Scheme

This 1-year premium for PBSBY and PMJJBY is Rs. 342, out of which:

Rs. 12 for Suraksha Bima Yojana.

Rs. 330 for Jeevan Jyoti Bima Yojana.

Hence, the total amount is 342. The issuing bank would retain the remaining Rs. 9 as service charge.


You can also avail two schemes namely Suraksha Deposit Scheme and Jeevan Suraksha Deposit scheme.

Suraksha Deposit Scheme – Features

  • Under this scheme, Rs. 201 will be deposited.
  • Out of which, Rs. 201, 24 rupees will be reserved for two years as payment for Suraksha Bima Yojana.
  • Remaining 177 rupees will be for a fixed deposit for 5 to 10 years for payment of PMSBY subscriptions.

Jeevan Suraksha Deposit Scheme

  • Under this Scheme, Rs. 5001 will be deposited.
  • Out of which Rs. 5001, Rs. 684 will be deducted from the paying two annual payments for PMSBY and PMJJBY (2*(12 +330))
  • Remaining Rs. 4317 would be retained for FD purpose for 5 to 10 years for the payment of future PMSBY and PMJJBY subscriptions.

Note – The last date for the enrollment for PMSBY and PMJJBY is extended till 30th September 2015.


  • State Bank of India (SBI)
  • Punjab National Bank (PNB)
  • HDFC
  • AXIS Bank
  • Oriental Bank of Commerce etc.

Note – List will be updated soon.

The Suraksha Bandhan is significant step to boost the reach of Social Security Schemes. This Raksha Bandhan, you can give a tribute to your beloved brother and sister and can help him/her towards a better future.

For understanding the details of Suraksha Bandhan, we hope that this article has helped you out. If you still have any questions, kindly write down in the comments section below.

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