Private lender Bandhan Bank on Tuesday said that it has signed an agreement with the Indian Army to provide banking services to the personnel of the force. The bank got the mandate to maintain zero-balance salary accounts of the Army personnel, the lender said in a statement.
They will be offered other preferential services such as six per cent interest on balance over Rs one lakh, unlimited free ATM transactions across ATMs, waiver of issuance and annual charge on Shaurya Visa Platinum Debit Card and unlimited free NEFT/RTGS/IMPS/DD transactions. Bandhan Bank Shaurya Salary Account also offers protection for self and assets.
This includes free personal accident insurance of Rs 30 lakh, air accident cover of Rs one crore and free educational benefit of up to Rs one lakh per year for four years to a dependent child in case of accidental death of the account holder, the statement said.