Axis Bank Ltd.

Axis Bank has entered into Memorandum of understanding (MoU) with the Indian Air Force (IAF) to manage salary accounts of the defense personnel. Offering benefits and features to Air Force personnel under its 'Power Salute' initiative, Axis Bank will offer numerous benefits to all ranks of the defence staff, including veterans, cadets/recruits.

The salary account offered by Axis Bank will have benefits such as personal accidental cover of up to Rs 56 lakh, total permanent disability cover benefit of Rs 46 lakh, air accident cover of Rs 1 crore among others. There will be no processing fee to open the account, while as many as 12 EMI waivers will be given on home loans. It will also offer additional zero balance accounts for 3 family members with no charges.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.