The Department of Financial Products and companies under the Ministry of Finance has launched a Composite Wage Legend Equipment for central authorities workers, offering them a local of banking, insurance coverage and card advantages under a single wage legend framework.
Some of the foremost aspects of the composite wage legend are- zero-balance wage legend, concessional hobby rates on loans, air insurance coverage accident duvet as a lot as Rs 2 crore and airport lounge salvage entry to.
Who’s eligible to starting up a composite wage legend?
The legend can even even be opened by all central authorities workers correct thru all cadres of Neighborhood A, B and C. All central authorities workers are impressed to upgrade or migrate their wage accounts to avail these advantages thru their respective public sector banks, as per a Ministry of Finance release.
Whereas the coverage does not duvet Neighborhood D workers, it doesn’t elaborate whether or not it additionally covers the workers of central authorities independent our bodies.
Also read: Latest CGHS bundle rates: What’s altering for central authorities workers and pensioners from October 13, 2025
What are the banking facilities offered under composite wage legend bundle?
It is a nil-balance wage legend with extra facilities. There shall be free remittances for transactions such as RTGS, NEFT and UPI alongside with cheque facilities. The legend additionally provides concessional hobby rates on loans for housing, education, automobile and private requirements alongside with concessions in loan processing charges. The legend will not incur any locker charges as locker lease is waived on such accounts. The legend additionally provides varied household banking advantages.
Expose that some aspects can even vary reckoning on the bank and the stage of an employee. Central authorities workers, before opening their composite wage legend can review aspects and select the most sensible possible bank.
What are the insurance coverage advantages offered on composite wage legend?
The legend provides a non-public accident insurance coverage duvet as a lot as Rs1.50 crore and an air accident insurance coverage duvet as a lot as Rs 2 crore.
In case of permanent total and partial incapacity, the legend provides a duvet as a lot as Rs. 1.50 crore.
Term lifestyles insurance coverage in composite wage legend
The composite legend provides an in-built term lifestyles insurance coverage safety of as a lot as Rs 20 lakh, with extra high-up facility to pork up the insurance coverage coverage.
Medical health insurance coverage in composite wage legend
The legend can receive comprehensive neatly being insurance coverage duvet for self and household with a rotten conception and further high-up facility to pork up the insurance coverage coverage.
What are the digital and card aspects in the composite wage legend?
The composite wage legend provides enhanced advantages on debit and credit score playing cards. These advantages are airport lounge salvage entry to, reward programmes and cashback provides. The legend additionally provides unlimited transactions without a upkeep charges.
Airport lounge salvage entry to per quarter in composite wage legend
This facility is reckoning on the bank a central authorities chooses and their employee cadre. For example, Central Financial institution of India provides four home lounge visits per year and two world visits per year for Cadre C workers. Cadre B workers are eligible for two home and two world lounge visits per quarter, while Cadre A workers are additionally eligible to salvage two home and two world lounge visits per quarter.
