State Bank of India (SBI) offers salaried employees from across sectors an option to open a salary account with the bank. It offers special salary account packages for different sectors, such as private, central government, state government, defence forces, and other institutions. etc. The bank offers a range of benefits and services, as well as access to secure net-banking and mobile-banking services. These customers need not maintain the minimum balance in this account.
The account-holders get facilities like unlimited transactions across ATMs, credit card, and various insurance packages. Besides that, these customers, depending on their salary package, can avail of a certain quantum of personal loans, home loans, car loans, among other facilities.
Salary account benefits and features:
1. The salary account holders can open zero balance account and get free unlimited transactions across ATMs of any bank. This account comes bundled with SBI credit card.
2. The account holders get complimentary personal accident insurance (death) cover of up to Rs 20 Lakhs.
3. They also get complimentary air accident insurance (Death) cover of up to Rs 30 lakhs.
4. The salary account holders can avail of personal loans, home loans, car loans and education loans from the bank at cheaper rates.
5. They can get up to 25 percent discount on locker service charges.
6. Avail of auto-sweep to create e-MODs (multi-option deposits) and earn higher interest.
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7. With the account complimentary, the customers get demat and online trading A/c at the time of opening account. Besides that, they also get the facility of free issuance of drafts, multi-city cheques, SMS alerts. free online NEFT/RTGS, overdraft equivalent to 2 months net salary (available for select customers only).
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8. The customers also earn points on various transactions through the bank’s loyalty program “SBI Rewardz”. Besides that, the account holders also get the regular offers on debit cards and YONO by SBI.