BoB signs MoU with T.N. Govt. for salary accounts
Bank of Baroda (BoB) said it has entered into a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to offer a customised salary account package for employees of the State Government, including employees of the Police, Forest, Fire & Rescue Departments.
The newly-introduced salary-account package comes with comprehensive insurance coverage at zero cost to the employees, making it one of the 'most attractive offerings in the banking sector.'
T. N. Suresh, General Manager & Zonal Head - Chennai Zone, Bank of Baroda said, 'This collaboration will extend financial and insurance benefits to the employees of the State government, thereby supporting their financial aspirations and well-being.'
'This package has been thoughtfully designed to provide extensive insurance cover to employees along with various other benefits like concessional interest rates with waiver in processing charges on Retail loans,' he said.
Bank of Baroda's customised Salary Account for Tamil Nadu State Government employees comes with complimentary insurance benefits like Personal Accident Insurance with maximum coverage of ₹1.55 crore, Term Life Insurance coverage of ₹15 lakh, Permanent Total Disability Cover of up to ₹1 crore & Hospicash Facility of Rs. 2,000 per day for daily hospitalisation.
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