MAHABANK SURAKSHA PAYROLL SCHEME
(SCHEME FOR DEFENCE & POLICE PERSONNEL)
For conveying our gratitude to the defence personnel for their service to the Nation, our bank introduced a novel and attractive payroll scheme for them on July 7, 2012. The Payroll scheme is named “ Maha Suraksha Payroll Scheme“and is being offered with the slogan ” You Serve the Country and we serve you & your family.”
Like the Defence personnel, members of police force serve the nation with sacrifice and dedication. More than 21.25 lac Police personnel in the country untiringly work to ensure that all of us live a simple & peacefull life.
As a gratitude to them it has been decided to extend our “ Maha Suraksha Payroll Scheme”to Police personnel across the country. With this the scheme will be available for all the personnel of central Armed Forces ( BSF, CRPF, CISF, ITBC etc.) Air forces, Naval forces, all State/UT/ Inter State Police Forces and all other special Task forces. Minimum number of accounts per establishments/ office shouid be twenty (20).
Detailed features of the scheme and benefits being offered in the accounts under the scheme as applicable to Defence personnel and police personnel are produced hereunder-
| Sr No | Particulars Service/ product | Defence personnel | Police personnel | ||
|---|---|---|---|---|---|
| Commisioned officers | Below the Rank of Commmi- Ssioned officers | Below the Rank of Commmi- Ssioned officers | Constabulary rank Constables & Sub constables | ||
| 1 | Employee strength | Min 20 in one establishement | |||
| 2 | Initial deposit | A/c can be opened with Zero bal. The initial credit in the a/c should be by way of credit of salary by the employer | |||
| 3 | Min Bal | No min balance required in the a/c( Zero bal in the a/c | |||
| 4 | Intt on deposit in the a/c | As applicable to normal saving bank account | |||
| 5 | Easy overdraft( to be approved by BM on application | 4 times of net monthly salary Max. Rs.2.00lakhs | 3 times of net monthly salary Max. Rs.1.00lakhs | 4 times of net monthly salary Max. Rs.1.5lakhs | 3 times of net monthly salary Max. Rs.50000 |
| 6 | Personali cheque leaves | Unlimited Free leaves | 75 free leaves per annum | Unlimited Free leaves | 75 free leaves per annum |
| 7 | Demand Draft | Unlimited free DD’s for personal use.( If not against Cash deposit in the same day and not to be used for business purpose. | |||
| 8 | RTGS/NEFT Remittances | Unlimited free remittance facility through net banking | |||
| 9 | Cash deposit at Non home br. | Free at all our branches throughout India. | |||
| 10 | Cash withdrawal through self drawn cheque at non home br. | Free ( Within daily maximum limit stipulated for SB accounts Rs. 50,000/- at present.) | |||
| 11 | ATM-cum-Debit card | Free for life Cash withdrawal Limit of Rs.50000/- per day. POS use limit Rs.1.0 lac /day | Free for life Cash withdrawal Limit of Rs.25000 /- per day. POS use limit Rs.50000/day | Free for life Cash withdrawal Limit of Rs.50000/- per day. POS use limit Rs.1.0lac/day | Free for life Cash withdrawal Limit of Rs.25000 /- per day. POS use limit Rs.50000/day |
| 12 | Transactions at non BOM ATMs in India | Free | Free | Free | Free |
| 13 | Internet Bnkg/Phon Bang/SMS Bnkg | Free | Free | Free | Free |
| 14 | e-stat of a/c monthly | Free | Free | Free | Free |
| 15 | Personal Accidental Death Insurance cover | Rs.3.0lacs | Rs.2.0lac | Rs.3.0lacs | Rs.2.0lac |
| 16 | Credit Card (BOm & SBI co-branded card | Free International Gold card( No annual maintenance fee | 75% concession in Annual maintenance fee | NA | NA |
| 17 | Concession in locker rents for self & immediate family members | 30% | 25% | 30% | 25% |
| 18 | Interest concessio on retail loans-home,auto | 0.25% less than the rate applicable to public (Subject to minimum of base rate) | |||
| 19 | Concession in MarginHome,auto | 10% concession | 5% concessio | 10% concessio | 5% concessio |
| 20 | Processing On retail Home,Veh | Full waiver | Full waiver | Full waiver | Full waiver |
| 21 | Edn loan to ward of Def.person | Available as per IBA Model Education loan scheme | |||
| 22 | Demat a/c | Free( No annual maintenance charges) | 50% concession in Annual Maintenan | Free | 50% concession In annual maintenan |
| 23 | Utility bill Payment facility/on-line shopping | Free | Free | Free | Free |
