SBI Salary Account: Salary package accounts are separate from bank accounts. They are started for employees who get salary every month. They are given some additional benefits as compared to regular customers. State Bank of India (SBI), the country’s leading public sector bank, also offers these accounts. Let’s know what are the benefits of it..
Generally everyone has accounts in different banks. Transactions are conducted from them. Nowadays everyone is taking bank accounts due to the increase in online transactions. The funds of various government schemes are also deposited directly in the bank accounts. A minimum balance should be maintained in the account as per bank regulations. Also the maintenance charges for ATMs etc. have to be paid.
Salary Package Accounts..
Salary package accounts are separate from bank accounts. They are started for employees who get salary every month. They are given some additional benefits as compared to regular customers. State Bank of India (SBI), the country’s leading public sector bank, also offers these accounts. Let’s know what are the benefits of it..
For employees..
Salary package accounts are designed to meet the banking needs of employees. Through these, financial management is streamlined and various benefits are provided. If you want to open a salary account with SBI then you should first visit the official website of SBI. Or you can directly meet the bank officials. A salary package account can be opened in the Yono application through a video customer identification process.
These are the benefits..
State Bank of India offers salary package accounts. They provide the following benefits to the clients.
This is a zero balance account
- There are no monthly balance charges
- Auto sweep facility (optional)
- Free debit card with special benefits
- Unlimited transactions at ATMs of SBI and other banks across the country
- Waiver of issue charges on demand draft
- Waiver of issuance charges for multi-city checks up to 25 per month
- Waiver of online RTGS/NEFT charges
- Complimentary Personal/ Air Accidental Insurance
- Sanction of personal and car loans
- Overdraft facility as per eligibility
- Concession on annual locker rental charges
Salary packages offered by SBI
- Central Government Salary Package (CGSP)
- State Government Pay Package (SGSP)
- Railway Salary Package (RSP)
- Defense Pay Package (DSP)
- Central Armed Police Salary Package (CAPSFI)
- Police Pay Package (PSP)
- Indian Coast Guard Salary Package (ICGSP)
- Corporate Salary Package (CSP)
- Initial Salary Package Account (SUSP)
Documents required for account opening
- Passport size photograph
- PAN card
- Address proof
- Employment / Service Certificate
- Latest Salary Slip
- Both identity proof, address proof are required for joint account.
Option to switch savings accounts..
It is possible to convert existing savings accounts into salary accounts with SBI. For that employment proof, salary slip/service certificate should be submitted in the bank. If the salary is not credited to the salary account for three consecutive months then it is treated under regular savings account. All charges will be levied accordingly.
