Indian Navy Signs MoU With Kotak Mahindra For Salary Accounts
- ByAyushi Ray | July 20, 2021
Indian Navy signs MoU with Kotak Mahindra for salary accounts. The signing ceremony took place in Delhi in the presence of Commodore Neeraj Malhotra (commodore pay and allowances) of the Indian Navy and Parminder Varma, business head (corporate salary) at Kotak Mahindra Bank. The bank will reportedly offer a special salary account with added benefits to the Indian Navy like enhanced complimentary personal accident insurance cover, special education benefit for children, and additional girl child benefit, and attractive rates and zero processing fees on personal loans, home loans and car loans.
The Kotak salary account provides a range of privileges, and we have further personalized our offering, keeping in mind the requirements of Indian Navy personnel and their families. With a full suite of products, we will support the Indian Navy with all their banking requirements, backed by quality customer service and digital-first solutions,” said Varma. Kotak Mahindra had announced in March 2021 that it had signed a similar MoU with the Indian Army. Indian Navy and army personnel will get access to full range of Kotak’s products and services including a zero-balance salary account that earns up to 4 percent interest per annum with free unlimited ATM transactions on all VISA ATMs and anywhere banking across the bank’s network of all branches and ATMs across India, in addition to a number of other benefits.
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