Bank of Baroda

Bank of Baroda signs MoU with the Indian Army for Agniveers

The MoU extends the Baroda Military Salary Package offerings to Agniveers recruited under the Agnipath Scheme


New Delhi, October 15, 2022: Bank of Baroda (Bank), one of India’s leading public sector banks, today announced the signing of a Memorandum of Understanding (MoU) with the Indian Army to extend the Baroda Military Salary Package to Agniveers recruited under the Agnipath Scheme. The MoU covers special benefits including enhanced free comprehensive Personal Accident Insurance Cover (PAI), attractive offers on Debit and Credit Cards and a host of other offers.

The ceremony for the exchange of MoUs was held at the Indian Army Headquarters, New Delhi. Lt. Gen. Bansi Ponappa, AVSM, VSM, Adjutant General of the Indian Army chaired the ceremony. The event was also attended by Lt. Gen. V Sreehari, SC, SM, DG (MP & PS); Major Gen. Ashok Singh, ADG PS and Lt. Gen. Ranbir Singh Salaria, PVSM, VSM (Retd.), Chief Defence Banking Advisor, Bank of Baroda.

Lt. Gen. Ranbir Singh Salaria, PVSM, VSM (Retd.), Chief Defence Banking Advisor, Bank of Baroda said, “We are proud to be associated with the Indian Army. Today, we are delighted to expand our collaboration by extending the benefits of the Baroda Military Salary Package to Agniveers. We promise to serve them with the best banking products and customer service, supported by state-of-the-art digital infrastructure and welcome them to the Bank of Baroda family.”

Benefits of the Baroda Military Salary Package for Agniveers*:

  • Free Personal Accident Insurance Death Cover – On-duty up to ₹105 Lakh and Off-duty up to ₹90 Lakh
  • Salary account cover: On-duty up to ₹75 Lakh and Off-duty up to ₹60 Lakh
  • Additional PAI cover: ₹10 Lakh on RuPay Debit Card
  • Additional PAI cover: ₹ 20 Lakh on Yoddha Credit Card
  • Permanent Total Disability cover up to ₹60 Lakh
  • Permanent Partial Disability cover up to ₹30 Lakh
  • Air Accident Insurance Cover up to ₹100 Lakh
  • Inclusion of death in active operations in PAI offerings
  • Yoddha Credit Card with special offerings
  • Baroda Radiance Premier Banking Programme extended to Gallantry Award Winners irrespective of relationship value
  • Other benefits such as Unlimited free transactions at all Bank ATMs and waiver of issuance/ annual fee on Debit Card, 50% waiver on Locker Rentals, Free Remittances through all modes etc.

*Terms & Conditions Apply

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