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  • SBI Salary Account

    SBI Savings Account

    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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