This package will provide banking, insurance and card services on a single platform.
New initiative starts from 14 January 2026
The scheme was launched on 14 January 2026 by M. Nagaraju, Secretary, Department of Financial Services. Under this, instructions have been given to all public sector banks to launch this special salary account package for central employees. The move is part of the government’s long-term vision of “Insurance for All” and a “Developed India” by 2047.
Now you will get every solution at one place
Till now, central employees had to go to different places for work related to banking and insurance. This problem will end with the implementation of the new scheme. The government has prepared it keeping in mind the needs of all three categories of employees – Group A, B and C. Now along with salary account, banking facilities, insurance cover and card related benefits will be available in a single package.
Strong and comprehensive insurance coverage
The biggest attraction of this package is its comprehensive insurance protection cover. Personal Accident Insurance: Up to Rs 1.50 crore, Air Accident Insurance: Up to Rs 2 crore, Permanent Total or Partial Disability cover: Up to Rs 1.50 crore, Term Life Insurance: In-built cover of Rs 20 lakh which can be extended at a lower premium, Health Insurance: With a base plan and top-up option for the employee and his/her family.
Big advantage in banking facilities
Under this composite salary account package, many attractive banking benefits will be given to the employees. Such as zero balance salary account, services like RTGS, NEFT, UPI and check book are completely free, low interest rates on home loan, education loan, auto loan and personal loan, exemption in loan processing fees, concession or complete waiver of bank locker rent, family banking benefits, from which family members can also benefit.
Digital and card related benefits
Special offers on debit and credit cards to make digital transactions easy and rewarding, airport lounge access, reward points and cashback, unlimited transactions and no maintenance charges, facility to transfer salary account from one bank to another as per the need.
Account upgrade facility
The government has instructed all public sector banks to give wide publicity to this scheme. It has also been asked to organize awareness camps in government offices, so that every employee can get information about this scheme. Employees who are already maintaining salary accounts in government banks can also convert their existing accounts into this new composite package.