PMJJBY and PMSBY policy cancellation

[Deleted member 16965]

Hello Everyone! How to close PMJJBY and PMSBY policies in SBI bank account? Every year there are auto debits from my bank account for policy renewal. Branch people are not helping to cancel or deactivate it (typical sarkari policy and sarkari employees). I want to close these policies. Please Help!

 

[amit]

dont keep money in the account when auto debit time comes and when the money doesnt get debited the policy wont get renewed

it wont work like that, if you not kept money during auto debit period and for next 6 months, as soon as money is loaded in your account even after 6 months of auto renewal date the amount will get deducted.

 

[amit]

Hello Everyone! How to close PMJJBY and PMSBY policies in SBI bank account? Every year there are auto debits from my bank account for policy renewal. Branch people are not helping to cancel or deactivate it (typical sarkari policy and sarkari employees). I want to close these policies. Please Help!

I am still trying from last 2 yrs for BOB to close the JBY account.

 

[Deleted member 16965]

I am still trying from last 2 yrs for BOB to close the JBY account.

Just give a complaint to RBI Banking Ombudsman and your problem should resolve post complaint.

 

[Bhaskar]

Branch manager can close it. I tried for my sister. Initially they were reluctant like it can't be closed and it is not costly etc. Second time i insisted then I had to give an written application to manager and it was closed.

 

[Deleted member 16965]

Branch manager can close it. I tried for my sister. Initially they were reluctant like it can't be closed and it is not costly etc. Second time i insisted then I had to give an written application to manager and it was closed.

How did you conclude that the policy has been closed? Did you receive any SMS regarding policy closure or any refund for the current premium paid?

 

[Bhaskar]

N

How did you conclude that the policy has been closed? Did you receive any SMS regarding policy closure or any refund for the current premium paid?

No acknowledgement received. But from next year no premium deducted. You can't stop the current year premium. It will take effect from next year only.