Para Military Salary Package

Salary Accounts under

Central Armed Police Salary Package (CAPSP)

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Central Armed Police Salary Package(CAPSP)

Personnel of the following Central Armed Police Forces (CAPFs) can avail of Salary Accounts under Central Armed Police Salary Package.  Retired Personnels can also open / convert their accounts in CAPSP – Pension and will be eligible for all benefits mentioned below except Insurance, Overdraft and Xpress Credit.

  • Central Reserve Police Force (CRPF)
  • Border Security Force (BSF)
  • Central Industrial Security Force (CISF)
  • Sashastra Seema Bal (SSB)
  • Indo Tibetan Border Police (ITBP)
  • National Security Guard (NSG)
  • Railway Protection Force (RPF)
  • Railway Protection Special Force(RPSF)

Available in three variants, namely Gold, Diamond and Platinum categorised on the rank of the personnel

  • GOLD : SUBEDAR MAJOR, INSPECTOR, SUB-INSPECTOR, ASSISTANT SUB INSPECTOR, HEAD CONSTABLE, CONSTABLE, ENROLLED FOLLOWER
  • DIAMOND: DEPUTY COMMANDANT, ASSISTANT COMMANDANT
  • PLATINUM: COMMANDANT, SECOND-IN-COMMAND, DIRECTOR GENERAL, SPECIAL DIRECTOR GENERAL, ADDITIONAL DIRECTOR GENERAL, INSPECTOR GENERAL, DEPUTY INSPECTOR GENERAL
  • For RPF, variants will be categorised as per equivalent rank in Central Armed Police Forces.
  • Benefits to Serving Personel
    • Zero balance account and free unlimited number of transactions across ATMs of any Bank in India.
    • Complimentary Personal Accidental Insurance (Death)cover of Rs. 50 Lakhs to all ranks.
    • Complimentary Air Accidental Insurance (Death)cover of Rs. 1 Crore to all ranks
    • Complimentary Personal Accidental (Permanent Total Disablement) cover up to Rs. 50 Lakhs to all ranks
    • Complimentary Personal Accidental (Permanent Partial Disablement) cover upto Rs. 50 Lakhs to all ranks.
    • Xpress Credit, Home loan, Car Loan and Education loan available at competitive rates.
    • 100% waiver of processing fee on Xpress Credit, Car Loan and Home Loan (Actual TIR and Valuation charges, etc will be recovered, where applicable).
    • Up to 25% off on annual locker rental.
    • Auto-Sweep facility (optional) to create e-MODs (Multi Option Deposits)and earn higher interest.
    • Demat & Online Trading A/c facility available.
    • Free issuance of Drafts, Multi City Cheques, SMS Alerts, NEFT/RTGS.
    • Overdraftequivalent to 2 Months Net Salary (subject to maximum cap based on variant of account).
    • Additional Rs. 10 Lakh for death in action against terrorist/ Naxalites/ foreign enemy.
    • SBI Rishtey (Family Savings Account): For family members of Salary Package Customer with differential benefits.
    • Xpress Credit loan cover upto 10 Lakh for SBI Loan Account for death in action against Terrorist / Naxalites / Foreign enemy.
    • SBI Rishtey (Family Savings Account): For family members of Salary Package Customer with differential benefits

    Note 1: Benefits under salary package are subject to classification of Savings Bank Account to respective Salary Package and Variant in banks system. All Customers Drawing Salary through SBI Accounts are required to apply along with proof of Salary and Proof of employment to their home branch for conversion of savings account to respective Salary Package/Variant ((Conversion Forms). Account holders are required to verify classification of their accounts under respective package/variant from the name of package / variant printed on first page of their bank passbook / statement.

     

    Note 2: In case, monthly salary is not credited into the account for more than 3 consecutive months, the special features offered under Salary Package will stand withdrawn and the account shall be treated as Normal Savings Account under our standard charges structure, and all charges shall be levied and applied as applicable to normal savings accounts.

  • Benefits to Pensioner Veterans
    • Zero balance account and free unlimited number of transactions across ATMs of any Bank in India.
    • Complimentary Personal Accidental Insurance (Death) cover of Rs. 30 Lakhs to all ranks
    • 100% waiver of processing fee on Car Loans.
    • Up to 25% off on annual locker rent.
    • Auto-Sweep facility (optional) to create e-MODs (Multi Option Deposits) and earn higher interest.
    • Demat & Online Trading A/c facility available.
    • Free issuance of Drafts, Multi City Cheques, SMS Alerts. NEFT/RTGS.