The Government has launched the new one-in-all salary account for central staff to cover banking, insurance, and cards at one stop. The Composite Salary Account Package was launched by the Department of
Financial Services (DFS).
All Central Government employees (Group A, B & C) can upgrade or migrate their salary accounts to avail these benefits through their respective Public Sector Banks.
One Account, Multiple Benefits
Under a single account, employees can access banking facilities, insurance protection and enhanced card benefits.
On the banking side, the account offers a zero-balance salary account, free RTGS, NEFT and UPI transactions, along with cheque book facilities. Account holders will also get concessional interest rates on home, education, vehicle and personal loans, waiver on locker rent and loan processing charges, and family banking benefits.
Insurance Cover Up To Rs 2 crore
A key highlight of the package is its strong insurance component. The account provides personal accident cover of up to Rs 1.5 crore, air accident cover of up to Rs 2 crore, and disability cover of up to Rs 1.5 crore. In addition, employees will get term life insurance of up to Rs 20 lakh, with an option to enhance cover, and comprehensive health insurance for self and family at affordable premiums.
Enhanced Card And Digital Perks
The package also includes upgraded debit and credit card benefits such as airport lounge access, reward points, cashback offers, unlimited transactions and zero maintenance charges.
