HDFC Bank has inked a Memorandum of Undertaking (MoU) with Indian Army for Defence Salary Package on April 3, 2018. The first MoU between the bank and the Indian Army was signed in 2011 and was renewed on March 13, 2015. The current MoU is tailor made to suit the requirements of serving soldiers, pensioners and families.
Under the current MoU apart from other benefits the Army personnel will get free personal accident death cover and free permanent disability cover of Rs 30 lakh, free educational cover of up to Rs 1 lakh per year for four years for education of dependent child in case of accidental death of defence personnel and 100% processing fees waived for Car Loans and Personal Loans.
HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.
