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Salary and Pension Solutions for Indian Police Forces Personnel

Salary and Pension Solutions for Indian Police Forces Personnel

  • Free Personal Accident Insurance – Death & Permanent Total Disability cover of upto Rs. 37.50 Lakhs#
  • Personal Accident Insurance covering age between 18-70 years
  • Air Accidental Insurance Cover up to Rs. 100.00 Lakhs
  • Free-Unlimited transactions at all Bank ATMs
  • Overdraft facility available*
  • 100% waiver in processing charges on Home loan, Auto Loan, Education Loan, Mortgage Loans and Personal Loan#
  • Higher Education Cover to wards of defence personnel upto 10% of Base PAI cover
  • Girl Child Marriage Cover (18-25 years) upto 10% of Base PAI Cover

# T&C Apply

*subject to approval as per extant guidelines of Bank

Salary Accounts are to be opened and maintained under the new salary scheme code SB186.

Key benefits

  • All Salary Bands covered for equal amount
  • Attractive waives on service charges.
  • Active operations covered for serving personnel.
  • Lifetime free Credit Card subject to eligibility criteria.
  • 100% Discount on Depository Services/Demat AMC Discount
  • 50% discount on Locker’s rental.

Life Insurance Facility


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.


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 - 1 Lac
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-20 127 253 704 1,811 11
Mar-20 115 230 640 1,646 10
Apr-20 104 207 576 1,482 9
May-20 92 184 512 1,317 8
Jun-20 81 161 448 1,153 7
Jul-20 69 138 384 988 6
Aug-20 58 115 320 823 5
Sep-20 46 92 256 659 4
Oct-20 35 69 192 494 3
Nov-20 23 46 128 330 2
Dec-20 12 23 64 165 1

From second year onwards the premium for the full year will be auto debited at central level in the month of January.

Insurance cover shall be available only till the Savings Account is active and Premium amount once collected shall not be refunded even if the account is closed.

Terms & Conditions

For more details on Salary Accounts,
please e-mail us at: liabilities.corp.bcc@bankofbaroda.com
For pension accounts: cppc.delhi@bankofbaroda.com

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