The Indian Navy, guardians of our nation’s maritime frontiers, have evolved into a formidable blue-water force, safeguarding India’s sovereignty and contributing to global peace and security. As a tribute to the indomitable spirit and valour of the Indian Navy, Punjab National Bank (PNB), the nation’s leading public sector bank, has enhanced its flagship Rakshak Plus offering, designed specifically for defence personnel.
PNB Rakshak Plus, recognised as the most competitive salary and pension product for the defence personnel in the banking industry, offers comprehensive benefits, including a global accidental insurance cover exceeding Rs 1 Crore, covering death or disability caused by accidents on sea, air, or land, as well as during naval operations.
The enhanced benefits of the PNB Rakshak Plus scheme for the serving personnel of the Indian Navy are as follows:
Benefits extended by PNB without cost to Rakshak Plus account holder
Accident Insurance Cover – Death / Total Permanent Disability
Rs 1 Crore
Accident Insurance Cover death in Operation
Rs 1.10 Crore
Air Accident Insurance Cover – Death / Total Permanent Disability
Upto Rs 1.50 Crore
Permanent Partial Disability Insurance
Upto Rs 1 crore
Reimbursement of major expenses
Cost of Education of 2 Children
Upto Rs 20 Lakhs
Cost of imported medicines including transportation
Upto Rs 10 Lakhs
Air Ambulance cost
Upto Rs 10 Lakhs
Marriage of 2 Girl Children
Upto Rs 10 Lakhs
Death after coma (more than 48 hrs)
Upto Rs 5 Lakhs
Hiring of ambulance, movement of mortal remains, funeral expenses, Emergency expenses etc.
Over Rs 1.5 Lakhs
Special concession for Gorkha Soldiers from Nepal
Free remittance to Everest Bank Ltd linked account
Major concessions in banking services at PNB
Zero Balance Saving Bank Account
Family members
Debit Cards (Rupay and Visa)
With host of premium advantage including insurance of loss due to fraud etc.
Credit Card
Upto Rs 10 Lakhs
Host of free Banking Services
No cash handling charges, Free Multicity Cheque Book, SMS Alert, Demand Draft, RTGS & NEFT etc.
Concession in locker facility
Attractive discounted rates
Housing / Vehicle / Personal Loan
Concessional rate of interest with waiver of documentation fees
Digital banking through PNB ONE App
Most secure 24 x 7 App with all features of banking facilities (Instant transfer, IMPS, Term Deposits, Account Transfer, Mutual Funds, Pre- approved Personal Loan and many more)
On the occasion of Navy Day, PNB extends its heartfelt congratulations to all members of the Indian Navy for their victories and feels honoured to serve as the trusted financial partner of the marine forces. The Bank also reaffirms its commitment to supporting the financial well-being of naval personnel and their families with innovative solutions and personalized services, strengthening its bond with India’s defence community.
