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Indian Army renews MOU with Axis Bank to offer special salary account Power Salute

Mumbai: The Indian Army has renewed its MOU with Axis Bank, to offer 'Power Salute accounts. Power Salute is a special Salary account offered exclusively for the Army personnel.

To strengthen its dedication towards presenting best in class banking services to this customer section, the bank will continue to offer customised solutions to meet the needs of the Army personnel.

The MOU signing ceremony was presided by Lt Gen SK Saini, AVSM, YSM, VSM, DG (MP&PS) of the Indian Army and was attended by Sanjay Silas, president and head branch banking, Axis Bank and other senior officials from the bank.

"Axis Bank is proud to be of service to the Indian Armed Forces and we will continue to offer special and exclusive banking services for the Defence personnel and their families," said Sanjay Silas, president and head branch banking, Axis Bank.

In addition to the core banking services, the bank will also offer special services like zero balance and joint account features of Rs.30 lac for personal accidental cover, up to Rs. 30 lac for partial and total permanent disability cover, Rs. 2 lac of education benefit forwards of Defence personnel (in case of accidental death of Defence personnel) and zero processing fees on a home loan, personal loan and auto loan.

The benefits of the MoU will cover both serving Defence personnel as well as Defence Pensioners.

Axis Bank has also launched an exclusive toll-free helpline number 1800 4198 007 to serve the uniformed forces. 

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