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Axis Bank signs MoU with Indian Army to offer service salaries

As India’s third-largest private bank, Axis Bank has renewed its commitment to the Defence sector by signing an MOU with the Indian Army, offering a salary package with best-in-class benefits and features under its “Power Salute” program.

As part of this exclusive package, Axis Bank will offer numerous benefits to all ranks of army officers:

  • Accidental Coverage up to Rs56 Lakhs
  • An additional Rs 8 Lakhs Education Grant
  • Total Permanent Disability Cover benefit up to Rs. 46 Lakhs
  • Permanent Partial disability cover of up to Rs. 46 lakhs
  • Rs 1 crore cover for air accidents
  • Free additional debit card for the family.
  • Universal account number across India. All Axis Bank branches will serve as ‘Home Branch’.

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The MOU reflects Axis Bank’s commitment to serving the Defence Forces and helping them meet their financial requirements, aspirations, and milestones. Armed forces at borders and other remote areas are able to remain connected with Axis Bank’s digital initiatives and gain access to a range of banking solutions. The share price of Axis Bank fell by 0.52% to Rs758.70 per piece at 12:46 pm on Sensex, down by Rs3.95 per piece.


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