ICICI Bank signs MoU with the Indian Army to offer special banking services to Army personnel and pensioners



8 October 2018


ICICI Bank, a leading private sector bank in India, renewed its Memorandum of Understanding (MoU) with the Indian Army to offer arrange of specially created benefits to the Army personnel and pensioners through its ‘Defence Salary Account’. This includes a comprehensive bouquet of benefits including a zero balance account, preferential allotment of lockers and waiver on processing fees on home, auto and personal loans for Gallantry award winners. It also offers unlimited free transactions on ICICI Bank as well as Non – ICICI Bank ATMs in India, thereby providing exceptional flexibility to the Army personnel.

The MoU signing ceremony was chaired by Lt. Gen. S.K. Saini, AVSM, YSM, VSM, Director General (MP&PS) of the Indian Army and was attended by Mr. Kumar Ashish, Senior General Manager & Regional Business Head and other senior officials of the Bank.

Speaking on the new offering, Mr. Anup Bagchi, Executive Director, ICICI Bank said, “ICICI Bank is honoured to partner with the Indian Army. Over the years, ICICI Bank has been associated with the Indian Army for its various banking requirements, which have been tailor-made to meet their banking requirements. In line with our continuing commitment to them, we are delighted to extend a bouquet of banking services that are curated to provide comfort and convenience in daily transactions, attractive propositions on loans and easy access to banking through our large network of branches, ATMs & digital banking channels. Additionally, to provide increased protection to the personnel and their families, we are offering enhanced insurance covers as well as financial assistance for the higher education of the wards of the martyrs. We believe that this renewed proposition will benefit a large section of the serving and retired Army personnel.”


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