Indian Overseas Bank (IOB) has partnered with the Tamil Nadu government to offer a tailored salary package for state government employees.
The partnership includes features like Personal Accident Insurance cover, Group Term Life Insurance cover, zero minimum balance requirements, and free ATM card issuance.
Employees under the Tamil Nadu State Government Salary Package (SGSP) can enjoy benefits such as unlimited transactions across all ATMs, concessions on processing fees, and lower interest rates for retail loans.
This agreement highlights the trend of customised banking products for salaried segments and aims to provide convenience and financial protection to Tamil Nadu government workers.