The bank has signed a memorandum of understanding (MoU) with the Indian Army for salary account Kotak Mahindra Bank to handle salary account of Indian army personnel | Photo Credit: IANS New Delhi: Private sector lender Kotak Mahindra Bank will handle the salary account of the Indian army personnel, the bank said on Thursday. The bank has signed a memorandum of understanding (MoU) with the Indian Army here for salary account. The MoU enables Kotak to offer its salary account proposition, combined with exclusive benefits for the Indian Army, to all army personnel both active and retired, Kotak said in a release. "Through the Kotak salary account, all personnel of the Indian army will get access to the full range of Kotak's products and services including a zero-balance salary account that earns up to 4 per cent interest per annum with free unlimited ATM transactions on all VISA ATMs and anywhere banking across the bank's network of 1,603 branches and 2,573 ATMs across India," the bank said.