Overview of SBI Salary Account
State Bank of India special salary account is offered for employees of Government organizations & establishments, corporates, schools, colleges, Railways, universities and defence personnel. With salary accounts, SBI provides an unique range of services like free debit card, zero balance requirements etc., SBI Special Salary Account holders will be able to enjoy a seamless access to Mobile banking services and Net Banking features.
| Bank | State Bank of India |
| Category | SBI Special Salary Account |
| Minimum Balance Requirements (MAB) | Nil |
| Interest Rate - SBI Savings Plus Account | 4% per annum |
| Debit Card Offered | Free SBI Domestic Cards for Silver Accounts Free SBI Gold Debit Cards for Diamond and Gold Accounts Free SBI Platinum Debit Card Cards for Platinum Accounts |
Types of SBI Special Salary Account
To cater to the specific needs of organizations, SBI offers 8 different types of salary account packages. SBI Salary Accounts can be customized and can be made as a package offering based on the corporate’s need depending upon the relationship with the bank.
| SBI Central Government Salary Package (CGSP) | This scheme offers a range of value added services and privileges to employees of Government Organizations and this account is offered in four variants. |
| SBI Corporate Salary Package (CSP) | This scheme is extended to corporate and other service institutions like hospitals and hotels. This package can also be customized based on the organization’s need. |
| SBI State Government Salary Package (CGSP) | This scheme is offered to the employees of State Government and Union Territories including their corporations and boards. |
| SBI Police Salary Package (PSP) | This savings account is specially designed for the employees of Central Police Organizations, Armed Police, Reserve Police, Police Forces of the Union Territories and Government Railway Police. |
| SBI Railway Salary Package | SBI Salary Account for Railway employees offers a line of privileges and services and is offered to the employees of Indian Railways and employees of major metros. |
| SBI Defence Salary Package | Under this scheme, SBI offers salary accounts for serving & retired defence personnel of defence organizations including Navy, Army, Indian Coast Guard, Assam Rifles and GREF. |
| SBI Para Military Salary Package (PMSP) | Organizations associated with Central Para Military Forces (CPMFs) are eligible to have this salary account with SBI. |
| SBI Indian Coast Guard Salary Package (ICGSP) | This scheme offered to Indian Coast Guard comes with many concessions and features and is extended to retired and serving personnel of Indian Coast Guard. |
Services Offered With SBI Salary Account
| Cheque Book | 20 cheque leaves free |
| Passbook and e-Statements | Passbook is provided at no extra cost. Free statement of account provided. |
| Internet Banking | Yes |
| SMS Alerts | Yes |
| Cash Withdrawal | 5 transactions free (for non-metro) and 3 free transactions (for metro) for cash and non - cash transactions at other Bank ATMs across India. Free cash and non - cash transactions at SBI ATMs across India (maximum of 5 transactions at own bank ATMs for select SBI debit cardholders) |
Features of SBI Salary Accounts
| Benefits Offered by SBI Salary Accounts to Employers | |
| Easy Management | SBI Salary accounts offer a convenient way to manage salaries with Core banking and internet banking facilities. |
| No Charges | No Charges for uploading of salaries, |
| No hassles | SBI Salary accounts reduces the salary administration cost and takes away the hassles of paperwork. |
| Instant Credit | Employees get instant salary credit thereby reducing any unnecessary delays. |
| Benefits Offered by SBI Salary Accounts to Employees | |
| Anywhere Banking | With over 16, 000 core banking branches and more than 53, 000 A |
| Easy account management | SBI Salary account holders can manage their account without any hassles through internet banking and mobile banking services. |
| Zero balance requirements | No charges for non maintenance of the account |
| Free Services | Free debit cards, personal accident insurance cover and personalized multi city cheque books |
| Investment Options | Account holders can opt for Systematic Investment Plan in mutual funds and demat facility for trading/ |
| Easy Loan Options | SBI Salary account holders can avail home loan, Xpress credit loan, auto loan, home loan etc |
| Current Account | SBI offers additional employee reimbursement current account specially for crediting reimbursements. |
| Easy Overdraft Facilities | Easy overdraft up to 2 months salary which is repayable within a period of 6 months. |
Fees and Charges for SBI Salary Account
| Charges for Non maintenance of Average Quarterly Balance per quarter | nil |
| Transfer of accounts | Rs. 112 |
| Interest Certificate | First copy free. Every additional copy will cost Rs. 169 |
| Charges for international cash withdrawal transaction | Rs. 112 minimum plus 3. 93% of transaction amount |
| Issue of Demand Drafts | Rs. 25 to Rs. 50 depending on the amount |
| Stop Payment Instruction | Rs. 51 per instrument up to 3 leaves |
| Emergency cheque request | Rs. 3 per leaf |
| Charges for failed standing instruction | Rs. 253 |
| Charges for non financial transactions beyond the set limit | Rs. 6 per transaction |
| Signature verification per instance | Rs. 169 |
| Number of free cheque leaves | 20 cheque leaves |
| Outstation and local cheque deposited with RBI and returned unpaid by others | Rs. 112 to Rs. 225 depending on the amount plus out of the pocket expenses |
| Charges for issue of duplicate passbook | Rs. 112 with the latest balance. Rs. 112 for the previous 0 entries to be added |
| Charges for issue of multi city cheque book | Rs. 3 per cheque leaf |
| Balance certificate per instance | Rs. 169 |
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