A salaried employee is fully aware of the salary account since he or she would not be able to get their monthly salary without one. Though the choice of bank for creating a salary account for employees is entirely up to the recruiter, those who have a salary account with the State Bank of India (SBI) enjoy a number of perks in addition to a zero balance account.
The State Bank of India provides a variety of Salary Accounts to fulfill the requirements of the clients. Salary Account Packages have been customised for a variety of sectors, including the federal government, state governments, the military, paramilitary forces, police forces, and corporations/institutions.
These all-inclusive packages offer a number of unique benefits and features, as well as simple access to reliable Net Banking and Mobile Banking services.
The benefits provided by SBI for its users include zero balance, up to 30 lakhs in insurance, free unlimited transactions at any bank ATM, free online NEFT/RTGS, overdraft, and other services. According to State Bank of India’s website- sbi.co.in, benefits for its salary account holder include insurance benefits, as well as discounts on personal loans, home loans, car loans, education loans, and other loans.
Also Read: How to download SBI Home Loan Interest Certificate? Check this step-by-step guide here
5 benefits for SBI Salary account holder
- Accidental death cover: SBI Salary account holders are eligible for a 20 lakh accidental death cover.
- Air Accidental Death Cover: According to SBI's official website, SBI Salary Account holders are entitled to air accident insurance (death) cover up to Rs. 30 lakh in the case of death in an air accident.
- 50 percent loan processing fee waiver: SBI Salary Account holders receive a 50 percent processing fee waiver on any loan, including personal loans, home loans, and car loans.
- Overdraft facility: The State Bank of India offers its salary account holders an overdraft facility. The overdraft facility offered by India's largest commercial bank, SBI, allows salary account holders to withdraw up to two months' salary.
- Locker charge rebate: SBI gives its salary account holders a 25% discount on locker charges.