RAJASTHAN POLICE SALARY PACKAGE (PSP)
The product is being offered in 4 variants with features as under: -
Variant Silver* Gold* Diamond* Platinum*
Product Code 1097-1431 1097-1441 1097-1451 1097-1461
Eligibility –(Employees of Monthly Net Monthly Salary Monthly Salary Credited Monthly Salary
Rajasthan Police) Salary credited Credited between Rs. between Rs. 50000- Credited
Rs. 10000 to 25000-50000 100000 > Rs. 100000
25000
A. FINANCIAL BENEFITS
Min. Balance NIL
Lifetime Unique Available
Account Number
Minimum Balance NIL
Concessions: - ✓ Xpress Credit Personal Loan: Processing charges 50% of applicable rate plus applicable GST
Processing Charges on ✓ Car Loans.: 50% waiver, minimum Rs.500 plus applicable GST
Retail Loans ✓ Housing Loan: 100% waiver
Attractive Interest Xpress Credit Personal Loan (Special Concessions for Police
Rates on Retail Loans personnel):
0.50% Concession for platinum customers and additional 0.50 % concession of loan
amount >10.00 lacs
SBI Car Loan Scheme: For Central/ State & Police Personnel, i.e. 75 bps (0.75 %)
above prevailing 1 year MCLR
ATM Withdrawal Free. Domestic Free. Free. Free
Limit Classic Debit International # International # International #
Card with Rs Gold Debit Gold Debit Platinum Debit
40,000/- Card with Rs 50,000/- Card with Rs 50,000/- Card with Rs 1,00,000/-
withdrawal withdrawal Limit per day- withdrawal Limit per day-. withdrawal Limit per
Limit per day-. . day-.
POS / Merchant Rs 50,000 limit for Rs 2 lacs limit for Rs 2 lacs limit for Point of Rs 2 lacs limit for Point
Transactions Point of Sale/ Point of Sale/ Merchant of
Merchant Sale/ Merchant Establishments Sale/ Merchant
Establishments Establishments Establishments
• # will be issued to those Salary Package account holders who consent to
issuance of International Debit Card
• Unlimited number of transactions • No annual maintenance charges.
• Add on card for spouse free of cost for joint account holder
1
No of Transactions Any number of Any number of Any number of Any number of
at ATM transactions transactions subject transactions subject to a transactions subject
subject to a to a maximum limit maximum limit of to a maximum limit
maximum limit of of Rs.50,000/- per Rs.50,000/- per day in of Rs.1,00,000/- per
Rs.40,000/- per day in India and India and Foreign day in India and
day. Foreign Currency Currency equivalent of Foreign Currency
equivalent of Daily Daily Rupee limit abroad equivalent of Daily
Rupee limit abroad Rupee limit abroad
Free at all SBI ATMs and other Bank ATMs. Unlimited number of transactions. No annual
maintenance charges. Add on card for spouse free of cost for joint account holder. International
debit card will be issued to those Salary Package account holders who consent for issuance.
Internet Banking Free facility offered from SBI.
Charges applicable to third party sites like Railways etc., payable
Multi City Cheque Leaf charges: NIL Payment Charges: NIL
Cheques
Easy Maximum Maximum Maximum Maximum
Overdraft up to 2 Overdraft limit of Overdraft limit of Overdraft limit of Overdraft limit of
Month’s Net salary, Rs.40,000/-. Rs.75,000/-. Rs.1,50,000/-. Rs.2,00,000/-.
subject to min residual service of 6 months. Adjusted from the next salary (ies) within a period of 6 months.
RTGS/NEFT Free, where transactions originated Free
through alternate channels, i.e.
Internet/Mobile Banking
Setting up of Free
Standing
Instructions
Savings Plus Threshold Amount: Rs.35,000/-
(Auto Sweep TDRs/STDRs to be created for a minimum amount of Rs.10,000 (and in multiples of Rs.1,000) in
Facility) any one instance.
Demand Draft Unlimited Free, if issued through Salary Account
Concession in NIL NIL 15% of applicable Rates 25% of applicable
locker charges rate
Charge on issue of NIL (Free if NIL (Free if NIL (Free if downloaded NIL (Free if
Duplicate Account downloaded downloaded through through “YONO” Banking downloaded through
Statement through “YONO” “YONO” Banking App App “YONO” Banking App
Banking App
Core Power Transactions at Non-Home branches
Transfer of funds between SBI Branches - Free for PSP account holders
Passbook Available for all accounts. Free updating at Non-Home Branches
State Bank Rewardz 1.0 x 1.25 x 1.5 x 2.0 x
SBI Foreign Travel Card For employees going abroad on official assignment, with facility of multiple Banking
B. COMPLIMENTARY BENEFITS
Life Insurance Cover Rs. 5.00 Lacs
across the board From the 12.02.2021 if Salary account is already converted into PSP.
* Personal Rs 30.00 Lacs
Accident From the date 12.02.2021, if Salary account is already converted into PSP.
Insurance for Primary Salary Account Holders (Available for active salary Accounts even if salary is Zero and
(Death) Cover without any ATM/ POS transaction.
Including Death in action Terrorist Attack also covered)
Rs 10.00* Lacs
*Including an add on cover of Rs.10.00 lacs on Rupay Platinum card
Total: Rs 40.00* Lacs
Health Insurance on a Rs. 5.00 Lacs Rs. 5.00 Lacs Rs. 5.00 Lacs Rs. 5.00 Lacs
premium of Rs. 6400/-per
year to the desired Police
Personnel
Air Accident Rs 100.00 Lacs to all Police Personnel
Insurance (Death) Cover From the date of execution of MOU if Salary account is already converted into PSP. (Only when the Air
Ticket has been purchased using State Bank Debit Card / INTERNET Banking)
2
Add on covers (as ✓ Higher Education (Only Graduation): - 15% of PAI cover, maximum Rs. 5 lakhs
applicable from time to ✓ For Girl Child Marriage cover (18-25 age): - 10% of PAI cover, maximum Rs 2.00 Lakh
time) ✓ Cost of plastic surgery/ Burn (For Gold, Diamond, Platinum): - Maximum Rs. 2.00 Lakh
✓ Transportation of imported Medicine (For Gold, Diamond, Platinum): - maximum Rs.2
lakhs
✓ Death after Coma after accident (more than 24 hrs) Up to Rs. 2.00 Lakh.
✓ Air Ambulance (For Gold, Diamond, Platinum): -Up to Rs. 5.00 Lakh
✓ Family Transportation: - Up to Rs 20,000/- (cost of travel incurred by immediate 2 family
members to reach place of accident)
✓ Repatriation of mortal remains – maximum Rs.10,000/-
✓ Ambulance charges: Rs. 1500/-
Rs 40.00 Lacs to all Police personnel maintaining their account under PSP (Including an add on cover of
Permanent Total Disability Rs.10.00 lacs on Rupay Platinum card), applicable from 12.02.21.
Cover
Permanent Partial Disability Up to Rs 10.00 Lacs to all Police personnel maintaining their accounts under PSP.
Cover
eZ trade (3-in 1 account: Available
Demit, share trading and
Savings A/c)
National Pension System Available (Remittance can be made by deposit of cash at any SBI branch, or transfer through
( NPS) Internet Banking)
Public Provident fund Available (Remittance can be made by deposit of cash at any SBI branch, setting up of SI on
(PPF) Savings account, Internet Banking)
Sukanya Sam Riddhi Available
Scheme
SBI Mutual fund Services available of AMFI Certified Employees at SBI branches. Free of cost auto debit/ debit to
SB account for SIPs for subscriptions to Mutual funds
SBI Credit Card Range of exclusive Credit Cards with attractive features including Shop and Smile Reward
Programme
Digital Platform Internet Banking (INB)
▪ State Bank Anywhere: Mobile Banking App
▪ State Bank App: YONO
▪ SBI Mingle: Social Media Banking Platform
▪ SBI Smart Watch: Application for wearable devices (Android & Apple Watches)
▪ SBI Quick: Missed Call Banking ▪ SBI Video Statement
*for details please refer to MOU dated 12.02.21 /visit our website [Link]/
