Government Launches 'Composite Salary Account': ₹2 Cr Insurance, Cheap Loans, Lounge Access

• The Department of Financial Services (DFS) launched the 'Composite Salary Account Package' for Group A, B, and C central government employees.
• The package integrates banking, insurance, and medical cover, offering facilities like zero-balance accounts, free digital transactions, and unlimited ATM access.
• Employees receive insurance coverage including ₹1.5 crore for personal accidents, ₹2 crore for air accidents, and ₹1.5 crore for disability.
• The scheme provides discounted interest rates on home, car, education, and personal loans, along with waivers on processing fees.
• Additional benefits include airport lounge access, special reward programs, and cashback offers on debit and credit cards.

Why It Matters: Central government employees get enhanced banking with insurance, cheap loans, and lifestyle benefits through the new Composite Salary Account.