Shangrila Development Bank out in the market with three new saving accounts yielding 7% interest; insurance claims as high as 16 lakh also available

Shangrila Development Bank, with an aim to provide a wider range of facilities to its valued customers, has launched “Shangrila Bank Bachat Pani Beema Pani” scheme to the market.

Under this scheme, the bank has launched Jiban Surakshya Saral, Jiban Surakshya Silver and Jiban Surakshya Gold saving accounts to the market. The account holders of these saving products will be entitled to receive upto 16 lakh of insurance facilities that include accident insurance, medical insurance and insurance against fatal diseases.

Customers will receive 7% interest for their deposit. The minimum balance for the three saving products has been fixed at Rs 5 thousand, Rs 15 thousand and Rs 25 thousand respectively.

Customers will also receive free ATM and Debit card, free mobile and internet banking for the first year.