Axis Bank signs MOU with Indian Coast Guard
Mumbai, 18 August2022: Axis Bank, India’s third largest private sector bank,reinforced its commitmentto the Defence sectorby signinganMOU with the Indian Coast Guard,offering adefence service salary package withbest-in-class benefits and features underits‘’Power Salute’’ initiative.
The signing ceremony was held at the Coast GuardHeadquarters, with the Indian Coast Guard, represented by Deputy Inspector General Kajal Roy, Principal Director (Administration), in the presence of Additional Director General, Rakesh Pal PTM, TMand Axis Bank was represented by Ms. Tanu Malhotra,Executive Vice President andLt Col M.K Sharma, National Accounts Head.
Through this exclusive Defence service salary package, Axis Bank will offer numerous benefits to all ranks ofthe Indian Coast Guard -Veterans, Cadets, Recruits –
- Personal Accidental cover ofupto56 lakhsto all personnel, Veterans, Cadets, Recruits
- Additional Children Education Grant upto 8 lakhs
- Total Permanent Disability Cover benefit upto 46 lakhs
- Permanent Partial disability cover of upto 46 lakhs
- Air Accident cover of 1 Crore
- NIL Processing fee & 12 EMI waiver on Home loans
- Zero Balance accounts for 3 family members with no charges
- Universal account number across India wherein all Axis Bank branches will function as “Home branch’’
The MOU is a reflection of Axis Bank’s constant endeavour to serve the Defence Forces and help them meet their financial requirements, aspirations and milestones. Axis Bank’s digital initiatives will enable the defence personnel at borders and other remote areas to stay connected and get easy access to its bouquet of financial solutions.