Axis Bank signs MOU with Indian Air Force
Mumbai, 08 July 2022: Axis Bank, India’s third largest private sector bank,reinforced its commitmentto the Defence sectorby signinganMOU with the Indian Air Force,offeringadefence service salary package withbest-in-class benefits and features under its‘Power Salute’ initiative.
The signing ceremony was held at Air ForceHeadquarters, with the I.A.F, represented by Air Vice Marshal Ashok Saini, VSM, ACAS (Accts & AV), in the presence of Air Chief Marshal, V R Chaudhari PVSM, AVSM, VM, ADCand Axis Bank representatives – Mr. Reynold D’ Souza,Executive Vice President and Lt Col M.K Sharma,National Accounts Head.
Through this exclusive Defence service salary package, the Bank will offer numerous benefits to all ranks ofIndian Air Force personnel including the veterans, cadets/recruits –
- Personal Accidental cover of upto56 lakhsto all personnel including the veterans, cadets/recruits
- Additional upto 8 lakhs forChildren Education Grant
- Total Permanent Disability Cover benefit up to 46 lakhs
- Permanent Partial disability cover of up to 46 lakhs
- Air Accident cover of 1 Crore
- NIL Processing fee & 12 EMI waiver on Home loans
- Additional zero balance accounts for 3 family members with no charges
- Universal account number across India. All Axis Bank branches will serve us “Home branch’’
The MOU is a reflection of Axis Bank’s constant endeavour to serve the Defence Forces of India, andhelp themmeet their financial requirements, aspirations and milestones.