STATE GOVT . SALARY PACKAGE DETAILS

 

STATE GOVT SALARY PACKAGE ACCOUNT (SGSP)

Do you have a salary account in state Bank? But there are benefits you can expect. However, these benefits are available only to government employees. Free insurance, get many benefits including attractive interest rates. 

State Bank of India (SBI), the largest bank in the country, offers a wide range of services to its customers. The salary account is also a part of this. There are several benefits to using an SBI Salary Account. However these are Applies to the central government, State Government, railway employees only.

Most people in the country want a government job. Financial security, Lifelong pension, Provident Fund, Will everyone look for a government job because of other benefits. If you are a government employee and have a salary account with SBI, you will get many benefits.

Loans with SBI Salary Account at attractive interest rates, Accidental Insurance, ATM services, Cashback, There are benefits like Zero Balance Option. Mainly Silver in Salary Account, Gold, There are three types of diamonds. 

State government salary package is a special category of account under which the account holder gets some special facilities and benefits. employees of state government and permanent employees corporations including teachers professors of aided schools , colleges universities etc can avail offer salary accounts under state government salary package

State Bank of India offers an entire range of salary account packages crafted to suit the needs of various various sectors such as a central government salary package, state government salary package, railway salary package, defence salary package, paramilitary salary package, police salary package, Indian Coast Guard salary package, corporate salary package

 this package has 4 variants eligibility is as per the net monthly salary net

1. Silver package variant net monthly salary between 10,000/- and up to 25,000/-
2. Gold package variant net monthly salary above 25,000/- and up to 50,000/-
3. Diamond package variant above 50,000/- and up to one Lakh
4. Platinum package variant net monthly salary above One lakh

What is salary package account?

Salary package account is a special savings account offered to salaried customers which provide a unique benefits and services as well as a seamless access the most advanced and secure net banking and mobile banking services

Benefits of salary package account

• No minimum balance required, only zero balance account
• No charges for demand draft
• No charges for NEFT/RTGS
• free SMS alerts
• Free unlimited transactions across ATMs of any bank
• Complementary personal accident insurance (death) covers up to 20 lacs
• Complementary air accident insurance (death) covers up to 30 lacs
• Up to 25% off on locker charges
• Auto sweep facility
• Avail of demat and online trading account at the time of onboarding itself
• Overdraft equivalent to 2 months net salary
• Best interest rates on personal loans car loans home loans and pension loans
• Free multi city checks

Interest Rates on Loans:

SBI complaint scheme: 50 bps concession. i.e.  75 bps above 1-year MCLR i.e. 9.30%  p.a

Personal loan scheme: interest rate starts from 12.00% daily reducing balance (term loan) overdraft rate of interest starts from 12.50%

Special transitions of 0.50% in rate of interest for personal loan where check off is provided from DDO and for personal loan above 10.00 lacs

Educational loan: up to 7.50 lakhs 10.50% (without security) and above 7.50 lakhs 10.80% (with security and collateral/ mortgage)

Interest concession for girls’ students- 0.50% interest concession in interest rate another 0.50% interested concession for availing SBI rinnraksha policy for loan amount

SBI scholar loan scheme: 8.75% for AA institutes and for IIT/IIMs 8.90%

SBI global advantage scheme (foreign education loan) above 20 lacs and up to 1.50 crores interest starts from 10.80 % with 0.50% concession for girl students and 0.50% interest concession on availing Rinnraksha policy for loan amount

Takeover Collateralized Education Loans for above 10 lacs from private banks and private institutions

Home Loans: for purchase of flats/ constructions of house and purchase of plot (N A land) and the loan on property with the lowest rates of interest in the market

Auto Sweep Facility ( only on request of customers):

Threshold Amount 35000/-

TDRs/STDRstobecreatedforaminimumamountofRs.10,000/-

ATM cum DEBIT CARD:

Issued to those account holders who consent to issuance of International Debit Card

No annual maintenance charges

Add on card for spouse free of cost for joint account holder

Silver	Gold	Diamond	Platinum
Free, Domestic Classic Debit Card	FREE, International #Gold Debit Card		Free, International Platinum Debit Card
withdrawal limit per day maximum.  Rs. 20,000/- per day	withdrawal limit per day maximum.           Rs. 50,000/- per day		withdrawal limit per day maximum. Rs. 1,00,000/- per day
Transactions limit per day at POS/ Merchant Establishments Rs. 50,000/-	Transactions limit per day at POS / Merchant Establishments Rs. 2,00,000/-

  Documents Required to open salary package account:

·   Passport size photographs (2 nos.)

·   Proof of Identity and Address as per standard account opening process

·   Proof of Employment

·   Latest Salary slip

·   Joint Accounts: For joint accounts, the Proof of Identity & Proof of Address are required for both the applicant as well as the joint applicant(s).

 

How to change saving account to salary package account?

Write a application to the bank manager to change saving account to SGSP account with required documents with salary slip latest.

Click here to DOWNLOAD DDO Letter

Click here to DOWNLOAD Application foe SGSP Account

E-circular of SBI Salary package Account

Revised details of SGSP Account