NOB- Bharat news: The Ministry of Finance (DFS) has launched a special zero-balance salary account package for central government employees. This facility will be available to all employees in Group A, B, and C cadres. This is not just a salary account, but a comprehensive package of banking and insurance services.
Key benefits offered through this account:
1. Insurance Facility (High Coverage):
Personal Accident Insurance: Insurance up to Rs.1.50 crore in case of accidental death. Air Accident Insurance: Coverage up to Rs.2 crore in case of an accident during air travel.
Disability Coverage: Protection up to Rs.1.50 crore in case of permanent or partial disability.
Life Insurance: Term life insurance up to Rs.20 lakh (with a top-up facility at a low premium).
Health Insurance: Comprehensive health insurance plan for the employee and family members.
2. Banking and Loan Benefits:
Zero Balance: No minimum balance is required. Zero maintenance charges.
Free Transactions: RTGS, NEFT, UPI, and cheque book transactions are completely free.
Low-Interest Loans: Home loans, education loans, vehicle loans, and personal loans are available at very low interest rates. Discounts on loan processing charges are also offered. Additional benefits: Airport lounge access, cashback offers, unlimited ATM transactions, and discounts on locker rentals.
Government objective:
This package has been designed as part of achieving the goals of ‘Developed India’ and ‘Insurance for All’ by 2047. Its main objective is to provide financial stability and peace of mind to government employees. The Finance Ministry stated that existing salary accounts can be converted to this new package with the employee’s consent.
