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“Open Central Forces Salary Account and get attractive benefits.”
Salary and Pension Solutions for Indian Central Forces Personnel
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Benefits
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Eligibility
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Documents Required
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Life Insurance Policy
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Most Important Terms and Conditions (MITC)
Salary and Pension Solutions for Indian Central Forces Personnel Benefits
Personal Accidental Insurance For Salaried Personnel
- Personal accident death Cover Rs. 43 .75 Lakhs *(On-duty Rs. 43 .75 Lakhs and Off duty Rs. 35 Lakhs)
- Permanent total disability Cover Rs. 35 Lakhs*
- Permanent partial disability Cover Rs. 17.50 Lakhs*
- Air accident insurance cover up to 100 Lakhs* Inclusion of Deaths in active operations in Personal Accident Insurance
- Personal Accident Insurance Cover age between 18-60 years
- Girl child marriage cover (18-25 years) 10% of Base PAI cover*
- Higher education cover 10 % of Base PAI cover*
- Transportation of dead body - Actual cost or Rs.50,000 whichever is lower
- Cost of plastic surgery/burn Rs.2 Lakhs
*Important Terms and Conditions for Personal Accidental Insurance Cover
- Maximum Base PAI cover Rs. 35 Lakhs
- Maximum Personal Accident Insurance Cover available is either 10 times of gross annual Income of account holder or any of the above mentioned applicable Insurance Coverage, whichever is less
- Air tickets should be booked with our Bank’s debit card & Air Insurance could not be less than Base Cover.
- Higher Education cover for Graduation Courses.
Pensioners of the above forces will be eligible for following insurance coverage
- Personal accident insurance cover of Rs. 35 lakhs*
- Permanent total disability Rs. 35 lakhs*
- Permanent partial disability Rs. 17.50 lakhs*
- Personal accident insurance cover for pensioners up to 70 years
Benefits in retail loans
- Salary Overdraft up to Rs.3.00 Lakhs
- 100% waiver on processing charges in Housing Loan, Auto Loan, Education Loan, Mortgage Loans and Personal Loan
- Concession of 0.25% In applicable ROI of Auto Loan for the account holders who have availed Home Loan
Benefits in ATM transactions
- No. of transactions at other Banks ATM Unlimited Free
- Cash on Mobile ATM's: Card-less cash withdrawal service from ATM’s
Benefits in debit card
- Lifetime Free VISA Platinum Debit Card
- Additional Free SELECT Variant of Rupay Debit card for Senior officials (Additional Rs.10 Lakhs Personal Accident Insurance cover under SELECT Debit Card)
- On the Fly Debit card EMI - Pre-approved Personal Loan with easy EMI on swipe of Debit card at all major stores
Debit card limits
- Cash withdrawal limit - Maximum Rs. 50,000/- per day at BOB ATMs
- Cash withdrawal limit at other Banks ATM as per RBI regulation
- Purchase limit of Rs. 2 Lakhs per day (POS)
Other benefits
- Free remittances - NEFT /RTGS for online or through Branch
- Free Mobile Banking & Internet Banking
- Free unlimited Demand Draft / Banker Cheque
- Lockers - 50% discount on locker rentals
- 100% waiver in Demat Annual Maintenance Charges
- 75% waiver on issuance charges for Gift and Travel card
- Baroda M-Invest Mobile app available for investing online in various Mutual Funds
- Online FDR opening: Facility of opening Fixed deposit online through Mobile banking and internet banking is available
- Digital mode of Payment Facility: BHIM Aadhaar Baroda Pay, BHIM App, Bharat Bill Payment services
Benefits in credit card
- Life time Free Credit Card subject to eligibility criteria. Different card variants based on salary band
- Additional Air Accident Insurance in the range of Rs.15 Lakhs to Rs.50 Lakhs is available under all variants of Credit Card.
Salary and Pension Solutions for Indian Central Forces Personnel Eligibility
Eligible Forces
- Central Reserve Police Force
- Assam Rifles
- Rashtriya Rifles (RR)
- GREF (Border Roads Organization (BRO)
- Border Security Forces (BSF)
- Indo-Tibetan Border Police
- National Security Guard
- Sashastra Seema Bal
- Central Industrial Security Force
Salary and Pension Solutions for Indian Central Forces Personnel Documents Required
List Of Valid KYC Documents For Account Opening | |||||
Permanent Account Number (PAN)/ FORM60 is mandatorily to be obtained while opening of the accounts as per extant Reserve Bank of India Guidelines. | |||||
Officially Valid Documents (OVDs) for Accounts of Individuals |
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Deemed Officially Valid Documents, In case OVD does not contains current/ updated address. (At least one document from the list is Required.) |
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In case of Foreign Students |
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For NRI / Foreign Tourist For PIO/OCI |
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For Foreign Nationals |
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Address proof mentioning the current overseas address (any one) |
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(FRRO/ FRO Certificate/ Permit/ Indian Driving License/ OVDs/ any Deemed OVD mentioned herein above, is required to be provided for Indian Address Proof.)
Accounts of Companies |
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Accounts of Sole Proprietary firms. |
(Any two of the following documents to be obtained)
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Accounts of Partnership firms. (Registered) |
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Accounts of Trusts |
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Accounts of Unincorporated Associations or body of individuals includes unregistered |
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Partnership firm/ trusts and societies. |
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Accounts of Hindu Undivided Family |
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Accounts of the Government or its Departments, societies, universities and local bodies like village panchayats etc. |
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Account of Political Parties |
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Salary and Pension Solutions for Indian Central Forces Personnel Life Insurance Policy
Eligibility
All Customers in Age Group of 18-70 are eligible to avail the Life Insurance benefits Any resident individual who has attained the age of 18 years and has not completed the age of 70 yrs can avail the facility of Life Insurance Cover from “IndiaFirst Life Insurance Co. Ltd” (IFLIC) upto an amount of Rs.5.00 lac after payment of required premium and submission of simple Health Declaration Form (DOGH)
Sum Assured
The Sum assured starts at a minimum of Rs.1.00 lac and goes up to Rs.5.00 lacs (in multiples of Rs. 1.00 lac). Under the Scheme, Only one insurance cover per person shall be allowed.
Periodicity
Period of Insurance is one year from 01st January to 31St December every year and is annually renewable. In case of those accounts which are opened in due course in the middle of the year, premium shall be paid on prorata basis only for the year in which the insurance is subscribed as per details mentioned below:
Premium Table
Insurance premium chart: Rs. 1 lakh | |||||
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Age in Years | |||||
18-35 | 36-50 | 51-59 | 60-70 | ||
Month of joining the Scheme | Premium (Inclusive of GST) with effect from 01/01/2020 | Coverage in Months | |||
Jan | 138 | 276 | 768 | 1,975 | 12 |
Feb | 127 | 253 | 704 | 1,811 | 11 |
Mar | 115 | 230 | 640 | 1,646 | 10 |
Apr | 104 | 207 | 576 | 1,482 | 9 |
May | 92 | 184 | 512 | 1,317 | 8 |
Jun | 81 | 161 | 448 | 1,153 | 7 |
Jul | 69 | 138 | 384 | 988 | 6 |
Aug | 58 | 115 | 320 | 823 | 5 |
Sep | 46 | 92 | 256 | 659 | 4 |
Oct | 35 | 69 | 192 | 494 | 3 |
Nov | 23 | 46 | 128 | 330 | 2 |
Dec | 12 | 23 | 64 | 165 | 1 |
From the second year onwards, the premium for the full year will be auto-debited at central level in January.
Insurance cover shall be available only till the savings account is active and the premium amount once collected shall not be refunded even if the account is closed.
Salary and Pension Solutions for Indian Central Forces Personnel Most Important Terms and Conditions (MITC)
