Personal Accidental Insurance offerings for Agniveers

  • Benefits
  • Eligibility
  • Documents Required

Salary Package for the Brave Beginners- Agniveers : Benefits

Free Personal Accidental Insurance Offerings
  • Personal Accident Insurance Cover on Salary account
    1. PAI Death Cover : On-duty PAI cover ₹ 75 Lakhs and Off-duty PAI cover ₹ 60 Lakhs
    2. Permanent Total/ Partial Disability cover upto ₹ 60 Lakhs
    3. Air Accident Insurance Cover of ₹ 100 Lakhs
    4. Inclusion of deaths in active operations in Personal Accident Insurance
    5. Transportation of Dead body – Actual cost or ₹ 50,000/- whichever is lower
    6. Cost of Plastic Surgery / Burn up to ₹ 2 Lakhs
  • Additional Personal Accidental Death and Permanent Total Disability cover of ₹ 10 Lakhs on available Agniveer Debit Card – Rupay variant
  • Additional Personal Accidental Death Cover (Air & Non-Air) of ₹ 20 Lakhs on available Co-branded Credit Card

Most Important terms & conditions for PAI cover*
  • Entry Age: 17.5 years (PAI Cover starts at 18 years) Applicant whose age is less than 18 years at the time of opening account under the scheme shall be eligible for PAI cover only on attaining age of 18 years.
  • Air tickets to be booked with Bank’s debit card for Air Accident Insurance cover.
  • PAI offered on Debit and Credit card are subject to terms & conditions of card policy.
  • All the benefits are subject to regular monthly credit of Salary in the Savings account and will be available only upto the tenure of Agniveer.

Other Benefits
  • Agniveer Debit Card: Unlimited Free ATM usage at all Bank's ATMs, Waiver of Issuance Fee & Annual Fee charges
  • Free Remittances – RTGS / NEFT / IMPS (through all modes)
  • Free unlimited – Demand Draft / Banker’s Cheque
  • Free unlimited – Personalized Cheque Books
  • Free Mobile Banking – Save, Borrow, Invest, Shop through bob World App
  • Free Internet Banking – bob World Internet
  • 50% waiver on Locker Rentals
  • 100% waiver on Demat Annual maintenance charges
  • 75% waiver on issuance charges for Gift and Travel Card

*All facilities are Subject to terms and condition

Salary Package for the Brave Beginners- Agniveers : Eligibility

  • Applicant whose age is less than 18 years at the time of opening account under the scheme shall be eligible for insurance cover only on attaining age of 18 years. Scheme is applicable for Personnel recruited under Agnipath scheme as Agniveers
  • Scheme will be applicable after credit of one month salary and thereafter regular salary credit in the account

Employees of listed Forces are eligible
  • Indian Army
  • Indian Navy
  • Indian Air Force

Salary Package for the Brave Beginners- Agniveers : 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.

Mandatory Documents for Agniveer personnel

Appointment Letter/ ID card / service certificate

Officially Valid Documents (OVDs) for Accounts of Individuals

  • Passport
  • PAN card
  • Driving license with photo
  • Proof of possession of Aadhaar Number
  • Voter’s Identity Card issued by Election Commission of India
  • Letter issued by the National Population Register containing details of Name and Address

Deemed Officially Valid Documents, In case OVD does not contain current/ updated address.

(At least one document from the list is Required)

  • Utility bill of any service provider i.e. electricity, telephone, postpaid mobile phone, piped gas, water bill (not more than two months old)
  • Property or Municipal Tax receipt;
  • Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, and public sector undertakings, scheduled commercial banks, financial institutions and listed companies. Similarly, leave and license agreements with such employers allotting official accommodation

Frequently Asked Questions (FAQs)

  • What is Agniveer scheme?

    Specially curated Saving account offered to Personnel recruited under Agnipath scheme of GOI as Agniveers in Indian Army, Indian Navy and Indian Air Force. They are recruited for a service tenure of 4 Years.

  • What are the eligibility criteria to open account under this scheme?

    Personnel recruited in Indian Army, Indian Air Force, Indian Navy as Agniveer are eligible under this scheme

  • What is the Agniveer salary package under Agnipath scheme?

    Personnel recruited under Agnipath scheme of GOI as Agniveers, under Indian Army, Indian Air Force, Indain Navy shall be eligible for PAI cover only after credit of one month salary and thereafter regular salary credit in the account. Since the Agniveers are recruited for a period of 4 Years they will be eligible for benefits for the service tenure only.

  • What are the benefits of Agniveer salary package?

    Complimentary Personal Accident Insurance benefits with Salary Account

    • PAI Death cover Salary account cover - On-duty upto ₹ 75 Lakhs and Off-duty upto ₹ 60 Lakhs
    • Permanent Total Disability cover up to ₹ 60 Lakhs
    • Permanent Partial Disability cover up to ₹ 30 Lakhs
    • Air Accident Insurance Cover up to ₹ 100 Lakhs
    • Inclusion of deaths in active operations in Personal Accident Insurance
    • Transportation of Dead body – Actual cost or ₹ 50,000/- whichever is lower
    • Cost of Plastic Surgery / Burn up to ₹ 2 Lakhs

    OTHER BENEFITS

    • Additional PAI death and PTD cover of ₹ 10 Lakhs on Yoddha Debit Card – Agniveer Debit Card
    • Additional PAI cover of ₹ 20 Lakhs on Yoddha / Varunah / Vikram Credit Card subject to eligibility
    • Salary Overdraft maximum upto 1 Month net salary credit
    • Unlimited Free Transactions at all Bank ATMs
    • Free Remittances – RTGS / NEFT / IMPS (through all modes)
    • Free unlimited – Demand Draft / Banker’s Cheque
    • Free unlimited – Personalized Cheque Books
    • Free Mobile Banking – Save, Borrow, Invest, Shop through bobWorld App
    • Free Internet Banking – Baroda Connect
    • 50% waiver on Locker Rentals
    • 100% waiver on Demat Annual maintenance charges
    • 75% waiver on issuance charges for Gift and Travel Card
  • What are the eligibility criteria for Personal Accidental Death Cover?
    • All the benefits are subject to regular monthly credit of Salary in the Savings account and PAI cover starts only after credit of one month salary.
    • Maximum PAI cover subject to 10 times of Gross Annual Income of salary of the account holder or any of the above mentioned applicable Insurance Coverage whichever is less.
    • Air tickets to be booked with Bank’s debit card for Air Accident Insurance cover.
    • Insurance on Debit and Credit card are subject to terms & conditions of card policy.
    • Applicant whose age is less than 18 years at the time of opening account under the scheme shall be eligible for insurance cover only on attaining age of 18 years. The PAI coverage will be extended upto service tenure maximum upto 4 Years. Later, if Agniveer is recruited as a regular soldier then they can avail the benefits under Baroda Military Salary Package.
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