Central Govt Employees Get New Salary Account: Enhanced Benefits, Insurance, Loans

• Department of Financial Services introduces a new Composite Salary Account Package for central government employees.
• The package offers banking, insurance, and card-related facilities in a single account, aiming for a one-stop financial solution.
• Employees will receive robust insurance protection, including personal accident cover up to Rs 1.5 crore and air accident cover up to Rs 2 crore.
• Upgraded banking facilities include zero balance accounts, unlimited transactions, no maintenance charges, and concessional interest rates on various loans.
• Premium card benefits like airport lounge access, reward programs, and cashback offers are also part of the package; old accounts can be migrated.

Why It Matters: Central government employees will receive enhanced financial security, comprehensive benefits, and easier banking through a new composite salary account package.