Private sector bank Kotak Mahindra Bank will handle the salary account of the Indian Army personnel. The bank has signed a Memorandum of Understanding (MoU) with the Indian Army here for salary account.
“Through the Kotak salary account, all personnel of the Indian army will get access to the full range of Kotak’s products and services including a zero-balance salary account that earns up to 4 percent interest per annum with free unlimited ATM transactions on all VISA ATMs and anywhere banking across the bank’s network of 1,603 branches and 2,573 ATMs across India,” the bank said.
The other benefits that the account will offer include a bespoke salary account for the army personnel, enhanced complimentary personal accident insurance cover for both on-duty and off-duty incidents, accidental death for total or partial permanent disability and it also offers special education benefit for children and additional girl child benefit by covering dependent children of up to 22 years in the event of an accident claim by the salary account holder.
