HDFC Bank and South Western Railway Sign MoU for Corporate Salary Relationship

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November 05, Hubballi, Karnataka, 2024: HDFC Bank, India’s leading private sector bank, today announced the signing of a Memorandum of Understanding (MOU) with South Western Railway (SWR) to offer Corporate Salary services and other banking prepositions.

As a part of this relationship, 39,000 employees of South Western Railway will have the opportunity to choose HDFC Bank as their preferred partner for Corporate Salary Accounts.

The move will vastly benefit the employees of South Western Railways as they will enjoy a host of benefits including personal accidental death cover and term insurance. Exclusive benefits will include:

1. Personal accidental death cover of 100 lakhs which include permanent disability cover & partial disability

2. Term insurance of 10 lakhs

3. Child education benefit up to Rs.4 lakhs per child up to 2 children

4. Zero Balance Savings Account

5. Convenience of ‘anywhere banking’ at all our branches

6. Access to HDFC bank ATMs across the country – Unlimited Free

7. Access to other bank ATMs across the country – Unlimited Free

8. Unlimited Free Demand Drafts at HDFC Bank branch locations

9. Free Platinum Debit Card for the primary holder

This initiative is undertaken to empower thousands of railway employees of South Western Railway spread across Karnataka.

Mr Ahmed Zackaria, Head – Branch Banking, Karnataka & Kerala, HDFC Bank said, “This strategic alliance between HDFC Bank and South Western Railway reinforces HDFC Bank’s commitment to providing comprehensive financial solutions to diverse customers. The partnership is expected to significantly benefit SWR employees by providing them with convenient, accessible, and rewarding banking services.”

The MoU was signed by Mr Ahmed Zackaria, Head – Branch Banking, Karnataka & Kerala, HDFC Bank and Mr. K Asif Hafeez, Sr Divisional Personnel Officer, South Western Railway in the presence of other senior officials including Divisional Railway Manager of South Western Railway, Hubballi – Mr. Harsh Khare, ADRM – Mr. Santhosh K Verma, Mr. Sanjay Kumar Singh and other senior officials from HDFC Bank & South Western Railway – Hubballi Division

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