SBI Salary account benefits: A salaried person is well aware about the salary account as without

having a salary account he or she won't be able to get one's monthly salary. Though, it is completely
vested with the recruiter as to which bank they prefer for opening a salary account for its employees
but those who have salary account in the State Bank of India (SBI), there are some benefits other
than zero balance account, which they can't afford to miss.
According to the official website of SBI — sbi.co.in, SBI salary account benefits include insurance
benefits; rebate in personal loan, home loan, car loan, education loan, etc. Apart from this, there are
some other benefits also that a SBI salary account holder must know and pass on to others who also
have salary account in SBI.
Here are the following 5 SBI salary account benefits:
1] Accidental death cover: SBI salary account holders are entitled for up to ₹20 lakh accidental
death cover.
2] Air accidental death cover: As per the official SBI website — sbi.co.in, in case of air accidental
death, the SBI salary account holder is entitled for Air Accidental Insurance (Death) cover up to
₹30 lakh.
3] 50% rebate in loan processing fee: A SBI salary account holder is eligible for 50 per cent
processing fee on any loan like personal loan, home loan, car loan, etc.
4] Overdraft facility: State Bank of India offers overdraft facility to its salary account holders too.
The largest commercial bank of India giver up to two month salary under over draft facility to the
SBI salary account holders.
5] Rebate in locker charges: SBI offers up to 25 per cent off on locker charges to its salary
account holders.
Apart from these, free issuance of drafts, multi city cheques, SMS Alerts, free online NEFT/RTGS,
free unlimited transactions across ATMs of any bank are some other benefits being given by the SBI
to its salary account holders.

Stage Govt Salary Package Benefits and Features to the Employer:

• Hassle-free account opening process. On request, our officials will visit your premises to
on-board your employees. Employees can also opt to open their accounts online or by
visiting the nearest branch.
• A convenient way to manage salaries across a large number of centres, through the Bank’s
award-winning Corporate Internet Banking.
• Online facilities reduce paperwork and salary administration cost. Enjoy instant credit of
salaries to your employees’ accounts.
• Zero charge for salary disbursement.
• Equipping your employees with a power-packed Salary Account that is trusted by the
largest organisations in India.
SGSP Benefits to the Employee
1. Zero balance account and free unlimited transactions across ATMs of any Bank. Also
comes bundled with SBI Credit Card.
2. Complimentary Personal Accident Insurance (Death) cover up to Rs. 20 Lakhs.
3. Complimentary Air Accident Insurance (Death) cover up to Rs. 30 Lakhs.
 4. Avail of Personal Loans, Home Loans, Car Loans and Education Loans at attractive rates
and upto 50% off on processing fees.
5. Upto 25% off on locker charges
6. Avail of Auto-Sweep to create e-MODs (Multi Option Deposits) and earn higher interest.
7. Avail of Demat & Online Trading A/c at the time of on-boarding itself.
8. Free issuance of Drafts,
9. Multi City Cheques: (Payable at par at all Branches): Cheque Leaf charges: NIL and
Payment Charges: NIL
10.SMS Alerts: SMS Facility is Free.
11.Setting up SIs are Free
12.Free online NEFT/RTGS: Unlimited Free through Alternate Channels(i.e. Internet Banking,
Mobile Banking etc)
13.Demand Draft: Unlimited Free, if issued through Salary Account
14.Overdraft equivalent to 2 Months Net Salary (Currently available for select customers only)
15.Earn points on various transactions through our loyalty program SBI Rewardz.
16.Host of regular offers on Debit Cards and YONO by SBI
Attractive Interest Rates on Retail Loans
• SBI Car Loan 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% with daily reducing balance
(Term Loan) Over Draft Rate of Interest starts from 12.50 %
• Special concessions of 0.50% in Rate of Interest for personal Loan where Check off is
provided from DDO (Salary Disbursing officer) and for personal loan above 10.00 Lacs.
• Educational Loan– upto 7.50 Lacs 10.55% (Without security) and above 7.50 lacs 10.80%
(with security and collateral/Mortgage)
• Interest Concession for Girl Student-0.50% interest concession in interest rate and another
0.50% Interest concession for availing SBI Rinn Raksha policy for loan amount.
• SBI Scholar Loan Scheme: 8.75% for AA Institutes and for IIMs/IITs 8.90%.
• SBI Global Ed-vantage Scheme (Foreign Education Loan) – Above 20.00 Lacs & upto
1.50 crores interest starts from 10.80% with 0.50% concession for girl students and 0.50%
Interest concession on availing Rinn Raksha policy for loan amount.
• Take over Collateralised Education Loans for above 10.00 Lacs from private Banks and
private Institutions.
• Home Loans: For purchase of Flats/construction of House and purchase of Plot (N.A Land)
and Loan on Property with lowest rate of interest in the market.