Axis Bank Signs MOU With Indian Air Force Offering Defence Service Salary Package

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

The signing ceremony was held at Air Force Headquarters, with the I.A.F, represented by Air Vice Marshal Ashok Saini, VSM, ACAS (Accts & AV), in the presence of Air Chief Marshal, V R Chaudhari PVSM, AVSM, VM, ADC and Axis Bank representatives - Mr. Reynold D’ Souza, Executive Vice President and Lt Col M.K Sharma, National Accounts Head. 

Through this exclusive Defence service salary package, the Bank will offer numerous benefits to all ranks of Indian Air Force personnel including the veterans, cadets/recruits -

·         Personal Accidental cover of up to Rs. 56 lakhs to all personnel including the veterans, cadets/recruits

·         Additional up to Rs. 8 lakhs for Children Education Grant

·         Total Permanent Disability Cover benefit up to Rs. 46 lakhs

·         Permanent Partial disability cover of up to Rs. 46 lakhs

·         Air Accident cover of Rs. 1 Crore

·         NIL Processing fee & 12 EMI waiver on Home loans

·         Additional zero balance accounts for 3 family members with no charges

·         Universal account number across India. All Axis Bank branches will serve us “Home branch’’

The MOU is a reflection of Axis Bank’s constant endeavour to serve the Defence Forces of India, and help them meet their financial requirements, aspirations and milestones.

About Axis Bank:  

Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 4,758 domestic branches (including extension counters) and 10,990 ATMs across the country as on 31st March 2022, the network of Axis Bank spreads across 2,702 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge and Axis Bank Foundation.