My Bday Offer- Use Code MYBDAY30

Register Now

Kotak Mahindra Bank signed MoU with Indian Army

Published on March 07, 2021
Current Context: India’s private sector bank, Kotak Mahindra Bank has signed MoU with the Indian Army.
Kotak Mahindra Bank signed MoU with Indian Army
  • The MoU was signed to provide a salary to the accounts of all active and retired army personnel.
  • The bank will also provide additional benefits to the army personnel.
  • This MoU will enable the bank to offer its products and services to the active and retired Indian army personnel.
  • The zero balance salary account of army personnel will earn an interest of upto 4% per annum.
  • The bank will also offer free unlimited ATM usage on all VISA ATMs.
  • Also, a complimentary personal accident insurance cover for on-duty and off-duty incidents will be granted to army personnel.
  • The bank will offer educational benefits for the salary account holder’s children up upto age 22 years for the case of an accident claim.
  • Zero processing fees will be charged for loan filing, unlimited cheque book facility, best in class rates Demat accounts will be offered by Kotak Mahindra Bank to the army personnel.
  • Static Part: 
    • HQ of Kotak Mahindra Bank: Mumbai
    • Tagline of Kotak Mahindra Bank: Let’s Make Money Simple

Question: 

Q.1 Which bank signed MoU with the Indian Army for salary accounts?
a. Axis Bank
b. Karnataka Bank
c. Kotak Mahindra Bank
d. State Bank of India
ebook store

About us

ramandeep singh

Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and 5000+ selections, Ramandeep understands the path to success, having transitioned himself from Dena Bank and SBI. He's passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu