August 17, 2026 09:41 am (IST)
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HDFC Bank signs MoU with Indian Navy
New Delhi, Apr 6 (IBNS): HDFC Bank Ltd., signed an MoU with the Indian Navy to offer salary account to Navy personnel.
As a part of the Defence Salary Account offering, Navy personnel, currently in service as well as retired, will get access to HDFC Bank’s banking services and a suite of digital banking products. The initiative is part of a larger focus to serve people in uniform.
Indian Navy personnel having account in HDFC Bank will be able to avail a host of benefits including wide range of international debit and credit cards, concessional interest rates on loans, and free ATM transactions, among others.
This is in addition to HDFC Bank’s powerful Netbanking portal and mobile banking app, which allows customers to perform over 205 and 85 different types of transactions, respectively.
In a function organized at Naval Head Quarters, the MoU was signed by Captain V.K. Gupta, Principal Director – Pay & Allowances, Indian Navy and Gulzar Singh, Branch Banking Head – North, HDFC Bank, in the presence of Rear Admiral Pradeep Joshi, V. S. M, AC.O.P (A.C) and Sandeep Singh Kohli,Circle Head – Delhi, HDFC Bank and other senior officials of the Indian Navy and HDFC Bank.
In 2011, the Bank had signed an MoU with the Indian Army to offer Salary account facility to Army personnel for three years, which was extended last year.
“We are happy to partner with the Indian Navy and extend our world-class banking services including our suite of digital banking products to Navy personnel. With this initiative, we express our sincere gratitude to the men and women in uniform, protecting the country,” Gulzar Singh, Branch Banking Head – North, HDFC Bank said.
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