SBI Salary Account Benefits And All Information PDF, Video Here
SBI Salary Account : SBI has the Corporate Salary Package (CSP) to offer to the corporate employees. The corporate salary account offers a gamut of benefits to the company employees and also to the employees of institutions such as hospitals, hotels, transport corporations etc.
SBI Salary Account Benefits And All Information PDF,Video Here
Depending on the gross monthly income of employees, the salary account in SBI is offered in four variants- Silver, Gold, Diamond and Platinum. The gross monthly income reflects the total income of the employee including basic salary and other allowances. The net pay or the take-home pay is the monthly income post taxes and provident fund deduction.

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Salary accounts are special varieties of savings accounts offered to salaried individuals. The employer, having a tie-up with the bank, credits the monthly salary of its employees to their respective salary accounts. It’s a win-win for both the employer and the employee. Salary accounts streamline the entire process for the employer and provide lucrative benefits to the employee (as it offers more benefits than a savings account).

An SBI salary account is revered for two fundamental reasons. First, having the coveted title of the largest bank in India with more than 20,000 branches and 60,000 ATMs and ADWMs (Automated Deposit and Withdrawal Machines), most public and private sector institutions associate themselves with SBI. In other words, the employer might already have a salary account link-up with the bank.

Second, from fruitful interest rates and access to the sophisticated net and mobile banking facilities to complimentary insurance covers and other features, an SBI salary account is like an orchestral playing of great finesse. The synchronization and financial harmony level is unparalleled, beautifully complimented by attractive benefits to employers and employees.

Below are the gross monthly income limits for the various variants:
  • Platinum: Above Rs 1,00,000
  • Diamond: Above Rs 50,000 and upto Rs 1,00,000
  • Gold: Above Rs 20,000 and upto Rs 50,000
  • Silver: Between Rs 5,000 and upto Rs 20,000
Employee Tiers
There are four package variants within each salary package, depending on the employee’s net monthly salary/ designation. The four tiers are:
  • Silver tier
  • Gold tier
  • Diamond tier
  • Platinum tier
The specific variant will determine your eligibility for the variant of the debit card, quantum of insurance coverage etc. If an employee wants to upgrade the account, it will be possible on the production of proof of gross salary per month and the documentary proof showing an increase in rank or designation.

Once the salary accounts are opened, the account numbers will be given by the employee. The salary is credited by the employer by using Corporate Internet Banking platform without the intervention of the branch. While the employee can open the salary account in any of the branches in India, the employer can remit from a single point through NEFT, RTGS, ECS etc.

Reimbursement account
At times, some corporates reimburse a part of the salary as reimbursements to the employees. For this, a separate account needs to be opened. The employee reimbursement accounts are offered to employees who already have a salary account with the SBI.
Such reimbursement account linked to the primary salary account is a current account with zero balance feature and no annual maintenance charges. The same ATM cum debit card issued to the salary account can be linked to employee reimbursement account.

SBI સેલરી ખાતાનાં ફાયદાઓ Video Credit Vikram Dadukiya
 
Benefits of SBI salary account : 
  • The main benefits of the salary account are – Zero balance account and free unlimited transactions across ATMs of any bank, free ATM-cum-debit card, an additional ATM card for the joint account holder, free Internet banking, free multicity cheques etc.
  • Up to 25 per cent off on locker charges
  • Free issuance of drafts, SMS Alerts. free online NEFT/RTGS.
  • Overdraft equivalent to 2 Months Net Salary (Currently available for select account holders only)
  • Complimentary Personal Accident Insurance (PAI Death) cover up to Rs. 20 lakh.
  • Complimentary Air Accident Insurance (AAI Death) cover up to Rs. 30 lakh is available to Gold/ Diamond/ Platinum variants. To be eligible for PAI/AAI cover, the salary account should be an active account and should have received salary credits during the last two consecutive months preceding the date of the incident.
Benefits to the Employee
  • Zero balance account and free unlimited transactions across ATMs of any Bank.
  • Complimentary Personal Accident Insurance (Death) cover up to Rs. 20 Lakhs.
  • Complimentary Air Accident Insurance (Death) cover up to Rs. 30 Lakhs.
  • Avail of Personal Loans, Home Loans, Car Loans and Education Loans at attractive rates and upto 50% off on processing fees.
  • Upto 25% off on locker charges
  • 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.
  • Earn points on various transactions through our loyalty program SBI Rewardz.
  • Host of regular offers on Debit Cards and YONO by SBI
  • SBI Rishtey (Family Savings Account): For family members of Salary Package Customer with differential benefits
SBI Salary Account Opening Process
An eligible employee can open an SBI salary account by visiting the nearest SBI branch. Also, they can apply online through the Salary Account page on the official website of SBI. They have to click the ‘request a call back’ button, and the sales team will assist them with the process.

Documents Required for SBI Salary Account Opening
The following documents are required for the SBI salary account opening:
  • Two recent passport-size photographs
  • Identity proof and address proof (any one of the following– passport, driving license, voter ID, Aaadhar card, etc.)
  • PAN Card
  • Employment proof
  • Recent salary slip
SBI Salary Account ફાયદા. Video Credit By Shreyash Dabar


FAQS SBI Salary Account :
1. What is a Salary Package Account?
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.

2. What are the benefits of Salary Package Account?
Each Salary Package account offers unique benefits and services to the customers. Here are a few benefits available on our Salary Package Account:
  • Zero Balance Account
  • No Monthly Average Balance charges
  • Auto Sweep Facility (Optional)
  • Free Debit Card with exclusive benefits
  • Unlimited number of transactions across SBI / Other Banks’ ATMs in India
  • Waiver of issuance charges on Demand Draft
  • Waiver of issuance charges of Multi City Cheques up to 25 cheque leaves per month
  • Waiver of online RTGS / NEFT Charges
  • Complimentary Personal/ Air Accidental Insurance cover
  • Competitive Interest Rates on Personal Loans, Car Loans and Home Loans.
  • Overdraft facility as per eligibility
  • Concession on annual locker rental Charges as per eligibility
  • Wealth Relationship as per eligibility
3. How can I open a Salary Package Account with SBI?
A salaried person can approach SBI in any of the following ways:
May open Salary Package Account on YONO Application through Video – Customer Identification Process without physical visit at Branch. Walk to the nearest SBI Branch.

4.  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).
5. I already have an existing savings account with SBI. Can it be converted to Salary Account?
Yes. Existing saving account with SBI can also be converted to Salary Package account on submission of application, Employment proof, Salary Slip / Service Certificate.

6. What is the minimum in-hand salary required to open an SBI salary account?
The minimum take-home monthly salary for an employee to open an SBI salary account is Rs. 10,000.