Axis Bank renewed its memorandum of understanding (MoU) on May 3 with the Indian Coast Guard to offer exclusive services to both its personnel and the pensioners. The previous MoU was signed in 2015.
The bank said that renewing the MoU has strengthened its commitment to deliver the best of banking services to the Indian Coast Guard and partner in their progress.
“We are proud to serve the Indian Coast Guard and we shall continue to offer exclusive banking services for the Indian Coast Guard personnel and their families,” said President & Head Branch Banking, Axis Bank, Sanjay Silas,
Under the new MoU, the exclusive privileges offered by the bank to the Indian Coast Guard include free personal accident death cover of Rs. 30 lakhs (including total permanent disability coverage of Rs. 30 lakhs), partial disability cover of up to Rs. 30 lakhs, educational benefit of Rs.2 Lakhs (for wards of Indian Coast Guard personnel), access to airport lounges and exclusive loan offerings, in addition to the anywhere banking services. Continuing the Axis Bank pay to pension policy for defense services, the bank said all the facilities will also be applicable to the Coast Guard personnel drawing pension through Axis Bank.