Finance Ministry Launches Composite Salary Account Package for Central Government Employees

The Department of Financial Services under the Ministry of Finance has launched a Composite Salary Account Package for central government employees across all cadres. This unified account offers zero-balance banking, concessional loan rates for housing, education, vehicle, and personal loans, and insurance covers including personal accident (up to Rs 1.5 crore) and air accident insurance (up to Rs 2 crore). Additional benefits include free fund transfers, waived locker fees, family banking features, premium card privileges, and airport lounge access. The scheme aims to enhance financial security and convenience through collaboration with 12 public sector banks.