SBI Salary Account Package for Central Government Employees: Key Benefits Explained

The Ministry of Finance has introduced a composite Salary Account Package for Central Government Employees, aimed at offering banking, insurance and lifestyle benefits under one account. Public sector banks, including State Bank of India (SBI), have rolled out customised salary packages for central government staff across all levels.

Here is a simple overview of SBI’s Salary Account Package and its main benefits.

Salary Package Categories

SBI offers different variants based on the monthly salary credited:

• Silver: ₹10,000 to ₹25,000
• Gold: Above ₹25,000 to ₹50,000
• Diamond: Above ₹50,000 to ₹1 lakh
• Platinum: Above ₹1 lakh to ₹2 lakh
• Rhodium: Above ₹2 lakh
• Royale: IAS, IPS and IFS officers

Higher salary slabs unlock additional benefits across banking, loans, cards and insurance.

Core Banking Benefits

All variants come with zero minimum balance requirement. Account holders also get:

• Instant overdraft facility up to ₹35 lakh
• Free IMPS, RTGS, UPI and SMS services
• Unlimited free demand drafts when debited from the salary account
• 25 free cheque leaves per month
• Sweep-in and sweep-out facility for better returns on surplus funds
• Locker rent concession of 50% from Diamond variant onwards

Loan and Demat Benefits

Employees enjoy concessions on processing fees and interest rates for retail loans:

• Personal loan interest concession of up to 2.5%
• Home loan interest concession of 0.10%
• Reduced charges on car and education loans
• Free SBI Demat account in the first year and 50% discount on annual charges from the second year

Family Banking Facilities

Employees earning more than ₹25,000 can open SBI Rishtey accounts for family members. Benefits include:

• Zero balance savings account
• Free debit card and cheque book
• Free demand drafts and online transfers
• Accident insurance cover of up to ₹20 lakh for eligible family members
• Locker rent concession and optional auto sweep facility

Debit and Credit Card Benefits

Depending on the salary tier, customers receive free RuPay Platinum or RuPay Select debit cards with lounge access. Platinum and higher variants also enjoy international lounge visits.

SBI credit cards such as Simply Save, Prime, Elite and Aurum are offered based on salary eligibility, with complimentary lounge access and fee waivers in the first year.

Insurance and Health Benefits

The package includes strong insurance coverage:

• Personal accident cover up to ₹1.3 crore
• Air accident cover up to ₹1.9 crore
• Disability cover and term life insurance
• Health insurance cover up to ₹5 lakh, with top-up options up to ₹50 lakh
• Wellness benefits and annual health check-ups for select cardholders

Read more: EMI Calculator: Buying a ₹2 Lakh Bike on a ₹50,000 Salary? Here is How It Can Work.

Conclusion

SBI’s Salary Account Package for central government employees offers a comprehensive mix of banking convenience, loan savings, insurance protection and lifestyle benefits. It is designed to simplify financial management while delivering long-term value through bundled services.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.