With the aim of improving the financial well-being of Central government employees, and ensuring they enjoy better social security, the Department of Financial Services (DFS), Ministry of Finance, has come up with the concept of a unified salary account framework. It has asked public-sector banks to create a composite salary account package for Central government employees. The objective is to provide a one-stop financial solution which will offer both banking and insurance benefits.
Central government employees are being urged to take advantage of this comprehensive account package via their salary accounts with various public-sector banks (PSB).
The Salary Account Package launched on 14 January 2026, will offer employees a range of banking and insurance benefits under one seamless account. The separate packages for all cadres of employees, that is, groups A, B and C, have been designed in consultation with banks so that employees enjoy maximum coverage, uniformity and convenience.
The offering covers banking, insurance and cards. Under the account package, employees can maintain a zero-balance salary account with enhanced facilities.
They will enjoy free remittances i.e. RTGS/ NEFT/ UPI along with cheque facilities, and also benefit from low interest rates on loans for housing, education, vehicle purchase and so on. Locker rental will also be waived. Additionally, personal accident insurance coverage of up to Rs 1.50 crore will be provided along with air accident insurance of up to Rs 2 crore. Permanent total and partial disability cover up to Rs. 1.50 crore is also offered along with term life and comprehensive health insurance cover.
That isn’t all. Employees can enjoy enhanced benefits on their debit and credit cards, along with airport lounge access, reward programmes and cashback offer.
The details of the composite salary account package can be accessed on https://financialservices.gov.in
