New Delhi, Jan 9 :Punjab National Bank and the Indian Army has signed a Memorandum of Understanding for offering a customised Rakshak Plus package to army personnel and veterans across the country.
Naveen Kumar, General Manager, Retail Banking Division representing PNB and Maj Gen Sanjay Singh the Additional Director General Personnel Services signed the pact on Tuesday.
To show solidarity with Indian Army personnel, the Personal Accident Insurance (PAI) and Air Accident Insurance (AAI) has been increased to Rs 30 lakh and Rs 1 crore respectively.
The Bank has offered concessional rates of interest on home loans, personal loans, educational loans and car loans. There are features inbuilt for carrying forward the home loan taken from Army Group Insurance Fund post superannuation of the personnel. Special rates of interest have been offered to educational loan for wards of army personnel and veterans who join specific colleges of the Army Education Welfare Organization.
PNB is in the process of creating exclusive Rakshak portal and mobile app. Customised Rakshak credit and debit cards will be issued to all savings bank account holders under Rakshak Plus package. (UNI)