Very few people know that after making a purchase with the Debit Card of State Bank of India, you also get an insurance about the goods, which have to be paid by the bank.
Now people shop only through card payment and avoid giving cash. Do you know that this habit of yours is also very beneficial for you. Actually, after shopping with SBI’s debit card, you also get insurance on that shopping. Yes, very few people know about this. In such a situation, we know what this rule is and how it can be taken advantage of.
According to a report by Money9, SBI says that due to theft, burglary, breaking the locks of the house, your goods are stolen, which you have bought 90 days ago through SBI card.
It states that the buyer can claim the sum insured only if the theft occurs within 90 days of the purchase of the article. SBI states that for this it is necessary that the goods have been purchased at the point of sale / merchant establishments through eligible debit cards.
Let’s say that you have bought some item using the debit card of State Bank of India and it gets stolen, then this insurance can come in handy for you.
In this case you will be eligible for insurance cover up to Rs.1 lakh. This insurance cover ranges from 5000 to one lakh rupees. It depends on the type of debit card you have. This includes SBI Gold, SBI Platinum, SBI Pride, SBI Premium and SBI Signature Debit Cards.