SBI Salary Package Account: You may continue to draw your salary through the same Salary Package Account even in the case of change of employer.
Salary Package account is a special Savings Account offered to salaried customers which provide unique benefits and services, as well as seamless access to the most advanced and secure net banking and mobile banking services. SBI Corporate Salary Package (CSP) is a comprehensive banking solution designed for employees of corporate and institutional clients of State Bank of India.
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Who is eligible for the Corporate Salary Package (CSP) ?
CSP account is offered to regular employees of private/ public sector corporates, public sector undertakings, private institutions, promoters/ founders etc. and on rolls contractual employees of the bank as well as private/ public/ government sector corporates/ institutions/ departments.
What are the variants of accounts available to Corporate Salary Package (CSP) customers ?
Six variants, namely CSP-Lite, Silver, Gold, Diamond, Platinum and Rhodium are available, depending on the level of the employee’s net monthly salary. These variants have different facilities on offer.
What is the criteria for categorisation of variants in a corporate Salary Package Account ?
- CSP – Lite : Net Monthly Salary Credit From Rs 5,000 To Rs 9,999
- Silver : Net Monthly Salary Credit From Rs 10,000 To Rs 25,000
- Gold : Net Monthly Salary Credit From Rs 25,001 To Rs 50,000
- Dimond : Net Monthly Salary Credit From Rs 50,001 To Rs 1,00,000
- Platinum : Net Monthly Salary Credit From Rs 1,00,001 To Rs 2,00,000
- Rhodium : Net Monthly Salary Credit Above Rs 2,00,000
Can you continue to enjoy the Salary Account benefits if your job is changed?
You may continue to draw your salary through the same salary package Account even in the case of change of employer. You need to intimate your employer about your existing bank details, so that the monthly salary credits are routed through the same account. You also need to intimate your bank branch for the required change in employer mapping with the bank.
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Benefits and services of Salary Package Account;
- Zero balance account and free number of unlimited transactions across ATMs of any Bank in India.
- Complimentary Personal Accident Insurance (Death) cover up to Rs. 40 Lakhs.
- Complimentary Air Accident Insurance (Death) covers up to Rs. 1 crore.
- Avail of Personal Loans, Home Loans, Car Loans and Education Loans at attractive rates.
- Upto 50% off on annual locker rental
- Avail of Auto-Sweep to create e-MODs (Multi Option Deposits) and earn higher interest.
- Avail of Demat & Online Trading A/c at the time of on-boarding itself.
- Free issuance of Drafts, Multi City Cheques, SMS Alerts. Free online NEFT/RTGS.Overdraft equivalent to 2 Months Net Salary (Currently available for select customers only)
- Earn points on various transactions through our loyalty program SBI Rewardz.
- Host of regular offers on Debit Cards and YONO by SBI
Points to remember;
Benefits under salary package are subject to classification of savings bank account to respective salary package and variant in bank’s system. All customers drawing salary through SBI Accounts are required to apply along with proof of salary and proof of employment to their home branch for conversion of savings account to respective salary package/variant.
In case, monthly salary is not credited into the account for more than 3 consecutive months, the special features offered under salary package will stand withdrawn and the account shall be treated as normal savings account under standard charges structure, and all charges shall be levied and applied as applicable to normal savings accounts.
What are the documents required for opening a salary account?
The following documents are needed:
- Passport Size Photograph
- Copy Of Pan Card
- Proof Of Identity And Address (Officially Valid Documents) As Prescribed By Rbi
- Proof Of Employment / Service Certificate
- Latest Salary Slip
- Joint Accounts: For joint accounts, the Proof of Identity & Proof of Address (Officially Valid Documents) are required for both the applicant as well as the joint applicant(s).
