Bank of Baroda signs MoU with defence forces for new Military Salary Package
- Public sector lender Bank of Baroda (BoB) has renewed its existing memorandum of understanding (MoU) with Indian Army, titled ‘Baroda Military Salary Package’, to offer customised banking services to account holders.
- The package will include facilities such as: free Personal Accidental Insurance cover, Permanent Total Disability cover, Partial disability Cover and Air Accident Insurance Cover of sizeable amounts, Higher Education Cover and Girl Child Marriage Cover on death in case of serving personnel.
- It also include unlimited free ATM transactions at all bank ATMs, waivers or concessions on various service charges in retail loans, free remittance facility through RTGS/NEFT, free Demand Draft/Banker’s Cheque, substantial discount in locker rentals, and various additional benefits in the usage of Cards.
- The services under ‘Baroda Military Salary Package’ will be offered to serving as well as retired personnel of Indian Armed Forces.
- BoB has also signed the MoU with Indian Navy and Indian Coast Guard to offer customised services along with a host of facilities to account holders.