Canara Bank and South Central Railway Sign MoU for Payroll Services
Canara Bank has signed a Memorandum of Understanding (MoU) with South Central Railway (SCR) to offer its Premium Payroll Account (Corporate Package) to SCR employees. The agreement was finalized on Tuesday.
B Chandrasekhara, the General Manager and Circle Head of Canara Bank in Hyderabad, highlighted the various services the bank offers. He explained some of the key features of the Premium Payroll Account, including a free personal and air accident insurance cover of Rs 100 lakh and free group term life insurance worth Rs 10 lakh.
In addition to these, the Premium Payroll Account also offers benefits such as concessional locker rent, accident insurance on debit cards, temporary overdraft facilities, and lower interest rates and processing fees on loans.
This move aims to provide SCR employees with enhanced banking services and additional financial benefits.
