The Department of Financial Services (DFS), Ministry of Finance, has introduced a composite ‘Salary Account Package for Central Government Employees’.
Composite Salary Account Package seeks to provide Central Government employees with a comprehensive suite of banking and insurance benefits under a single, seamless account structure. The packages have been carefully designed in consultations with banks to ensure maximum coverage, uniformity and convenience for employees across all cadres [Group A, B and C].
The product has three core segments – Banking, Insurance and Cards – making it a one-stop financial solution for employees.
All Central Government employees can avail the benefits of this comprehensive scheme through their salary accounts with 12 Public Sector Banks viz Bank of India, Bank of Maharashtra, Punjab National Bank, Bank of Baroda, Union Bank of India, UCO Bank, State Bank of India, Indian Bank, Canara Bank, Punjab & Sind Bank, Indian Overseas Bank, Central Bank of India.
From Personal Accident Insurance (PAI) coverage to health, spa and more, other benefit on ATM 12 Public Sector Banks Explained for Group A, B, C employees
1. Bank of India
C
Personal Accident Insurance (PAI)
A/B
Gym / Spa / Golf / Health Checkup / PAI-10 Lakh / OTT
2. Bank of Maharashtra C/B/A
PAI-10 Lakh / Health Checkup / Gym / Golf / SPA / OTT / Merchant Offers
*Subject to prevailing NPCI guidelines
3. Punjab National Bank C/B/A
PAI: 10 Lakh, 10-12 vouchers – Gym / SPA / Blinkit / Pharmacy etc.
4. Bank of Baroda
C
PAI-2 Lakh
B/A
PAI 10 Lakh / Fitness / OTT / SPA / Golf
5. Union Bank of India C/B/A
Health Checkup / Gym / OTT / SPA / Baggage Loss / Golf
Metal – additional vouchers
6. UCO Bank C/B/A
PAI up to 10 Lakh, Health Checkup, OTT, Gym, SPA, Golf
7. State Bank of India C/B/A
PAI, AAI, Purchase Protection
Vouchers, OTT
Select – SPA / Gym / Golf / Health Checkup
8. Indian Bank C/B/A
PAI-10, Health Checkup, OTT, Gym, Golf, SPA (as per NPCI guidelines)
9. Canara Bank
C
PAI 2 Lakh
Baggage Insurance
Rewards
B/A
Gym / Spa / Golf / Health Checkup / PAI-2 Lakh / OTT
10. Punjab & Sind Bank C/B/A
Platinum – as per NPCI
Select – PAI / OTT
11. Indian Overseas Bank
C
As per card network provider
B/A
Gym / Spa / Golf / OTT / Health Checkup / Offers
12. Central Bank of India
C
PAI / Merchant Offers
B/A
Health Checkup / Gym / OTT / SPA / Baggage Loss / Golf / Pharmacy / Merchant Offers
Complete details of the Composite Salary Account Package are available on the DFS website https://financialservices.gov.in
