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PNB hikes accidental insurance cover for Army personnel, veterans

IANS  |  New Delhi 

The personal accident and covers for serving army personnel and veterans have been increased to Rs 30 lakh and Rs 1 crore, respectively, under an MoU signed here on Thursday by state-run National Bank and the Indian Army, PNB said.

A said the memorandum of understanding (MoU) for the upgraded Rakshak Plus package incorporating various new features has been signed in continuation of the previous MoU signed in June 2015.

"To show solidarity with personnel, the Personal Accident insurance (PAI) and (AAI) has been increased to Rs 30 lakh and Rs 1 crore, respectively," it said

PNB said it has offered concessional rates of interest on home loans, personal loans, educational loans and

"There are features inbuilt for carrying forward the home loan taken from post superannuation of the personnel.

"Special rates of interest have been offered for educational loan for wards of army personnel and veterans who join specific colleges of the Army Education Welfare Organization," it added.

PNB also said it is in the process of creating exclusive the Rakshak portal and mobile app.

"Customised Rakshak credit and debit cards will be issued to all under Rakshak Plus package," the statement said.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 10 2019. 22:00 IST