Punjab National Bank (PNB) has signed a Memorandum of Understanding (MoU) with the Government of Tripura to provide a customised Salary Saving Account Scheme to permanent State Government employees.

The MoU was signed by Dr Parshant Kumar Goyal, Secretary, Finance Department, Government of Tripura, and Bijender Singh, General Manager and Zonal Head, Guwahati Zone, PNB, in the presence of Rituraj Krishna, DGM and Circle Head, Agartala, and Alok Priydarshi, CAC Head, Agartala.

According to the bank, the salary package provides insurance and other financial benefits to employees based on their salary category.

The package includes Personal Accidental Death Insurance of up to Rs 1.50 crore and Air Accidental Insurance of up to Rs 3 crore, besides Permanent Total Disability cover of up to Rs 1.50 crore.

It also provides provisions for higher education support, girl-child marriage cover and other emergency-related benefits, the bank said.

The salary accounts will have no minimum balance requirement and will include health and wellness benefits, cashless annual health check-ups, tele-consultation and hospicash benefits.

Under the scheme, employees will also have access to an instant overdraft facility of up to twice their average net salary, subject to a maximum of Rs 2 lakh.

The package also provides free and unlimited Demand Draft and cheque-book issuance, locker concessions and Demat annual maintenance charge waiver, as specified under the scheme.

Family members of employees will be eligible for zero-balance family accounts, specified insurance benefits and free transaction facilities.

The package also includes preferential benefits on housing, vehicle, education and personal loans, along with RuPay debit and credit card offerings, according to PNB.

The MoU brings banking, insurance and other financial facilities for State Government employees and their families under a customised salary account scheme.