Both Civil and Defence personnel can open a Pension Savings Account with Axis Bank. You can easily apply for your Savings Account at any of our Authorised Centres for Pension Savings Account.
- Authorised Branches for Civil Pension Payment
- Authorised Branches for Defence Pension Payment
Pension Savings Account operations
Pension Savings Account operations depend on whether you are an existing or a prospective pensioner. To begin receiving your pension in your Pension Savings Account all you have to do is open the Savings Account with Axis Bank and inform the designated office of the ministry to transfer your pension into your Axis Bank Account.
To avail this facility, open a Pension Savings Bank Account with any authorised Axis Bank branch and provide the account details to the Pay and Accounts Office (PAO) of the concerned Central Government Civil Ministry/Departments or Pension Sanctioning Authorities (PSAs) in case of Defence Units, prior to retirement.
If you are an existing Axis Bank customer, provide details of the savings bank account with the bank to the Pay and Accounts Office of the concerned Central Government Civil Ministry/Department or Pension Sanctioning Authorities (PSAs) in case of Defence Units, prior to retirement.
To avail this facility, open a Pension Savings Bank Account with any authorised Axis Bank branch and thereafter follow the necessary procedures prescribed by CPAO (in case of Central Government Civil Ministries/Departments) or Ministry of Defence for change of Bank for Pension Account for receiving/drawing pension.