SBI salary account benefits: India’s largest lender State Bank of India (SBI) offers some benefits other than the zero-balance facility to those who have salary account in SBI. However, it is completely vested with the recruiter as to which bank they prefer for opening a salary account for its employees.
According to the official website of SBI — sbi.co.in, SBI salary account benefits include insurance benefits; rebate in personal loan, home loan, car loan, education loan, etc. Apart from this, there are some other benefits also that a SBI salary account holder must know and pass on to others who also have salary account in SBI.
SBI salary account benefits: Here are the five benefits.
- Accidental death cover: SBI salary account holders are entitled for up to ₹20 lakh accidental death cover.
2. Air accidental death cover: As per the official SBI website — sbi.co.in, in case of air accidental death, the SBI salary account holder is entitled for Air Accidental Insurance (Death) cover up to ₹30 lakh.
3. 50 percent rebate in loan processing fee: A SBI salary account holder is eligible for 50 percent processing fee on any loan like personal loan, home loan, car loan, etc.
4. –Rebate in locker charges: SBI offers up to 25 percent off on locker charges to its salary account holders.
5. Overdraft facility: State Bank of India offers overdraft facility to its salary account holders too. The largest commercial bank of India giver up to two month salary under over draft facility to the SBI salary account holders.
Also check, SBI FDs between 7 days to 45 days will fetch 2.9%. Term deposits between 46 days to 179 days will give 3.9%. FDs of 180 days to less than one year will fetch 4.4%. Deposits with maturity between 1 year and up to less than 2 years will give 10 bps more now. These deposits will fetch an interest rate of 5% instead of 4.9%. FDs maturing in 2 years to less than 3 years will give 5.1%. FDs with 3 years to less than 5 years will offer 5.3% and term deposits maturing in 5 years and up to 10 years will continue giving 5.4%. These rates are applicable with effect from 8 January 2021. SBI offers senior citizens’ an additional 50 bps interest rate across all tenors. After the latest revision, senior citizens will get 3.4% to 6.2% on FDs maturing in 7 days to 10 years. These rates are applicable from 8 January 2021.
