Axis Bank signs MOU with Indian Coast Guard

August 17, 2022

Axis Bank, India’s third largest private sector bank, reinforced its commitment to the Defence sector by signing an MOU with the Indian Coast Guard, offering a defence service salary package with best-in-class benefits and features under its ‘’Power Salute’’ initiative.

The signing ceremony was held at the Coast Guard Headquarters, 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, TM and Axis Bank was represented by Ms. Tanu Malhotra, Executive Vice President and Lt Col M.K Sharma, National Accounts Head.

Through this exclusive Defence service salary package, Axis Bank will offer numerous benefits to all ranks of the Indian Coast Guard - Veterans, Cadets, Recruits

Personal Accidental cover of upto ₹ 56 lakhs to 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.