State Bank of India or SBI offers the facility of opening a salary package account, which is a special savings account offered to salaried customers. A salary package account is a zero balance account. SBI offers salary account packages for varied sectors such as central government, state government, defence forces, paramilitary forces, police forces, corporates/institutions etc, according to SBI's official website- sbi.co.in. The packages provide a wide range of benefits and services, as well as access to the secure net banking and mobile banking services.
Given below are key things to know about SBI's corporate salary package:
1. Salary accounts under corporate salary package (CSP) offer a range of privileges to the employees of corporate institutions, including service organisations such as hospitals, hotels, etc. The package can be customised depending upon the business relationship between the organisation and the bank, noted SBI.
2. Under SBI's corporate salary package, employers are not charged for salary disbursement.
3. Salary accounts under CSP offer free unlimited transactions across ATMs of any bank. SBI credit card is also bundled with it.
4. It also offers complimentary personal accident insurance (in case of death) cover up to Rs. 20 lakh and complimentary air accident insurance (in case of death) cover up to Rs 30 lakh.
5. Employees also get free issuance of drafts, multicity cheques, SMS alerts and free online NEFT/RTGS services.
SBI's package variants eligibility is as per the gross monthly income:
Platinum: more than Rs. 1,00,000
Diamond: more than Rs. 50,000 and up to Rs. 1,00,000
Gold: above Rs. 20,000 and up to 50,000
Silver: Between 5,000 and up to 20,000
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