Product Details
Bank Name
State Bank of India
Account Name
Indian Coast Guard Salary Package (ICGSP)(Serving Personnel)
Account Type
Salary Account
Interest Rate
Balances less than Rs. 10 Crore - 2.70% p.a.
Free Debit Card
It will depend upon the monthly salary of the user.
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Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
It will depend upon the monthly salary of the user.
NEFT Charges
Free online
IMPS Charges
Free online
Fees and Charges
Indian Coast Guard Salary Package (ICGSP)(Serving Personnel)
Special Features
Users will get a zero balance account and free number of unlimited transactions across ATMs of any bank in India.
Users will get complimentary personal accident insurance (Death) cover up to Rs. 50 lakhs.
Users will get complimentary air accident insurance (Death) cover up to Rs. 1 crore.
Users will get complimentary personal accidental (Permanent Total Disablement) cover up to Rs. 50 lakhs and complimentary personal accidental (Permanent Partial Disablement) cover up to Rs. 50 lakhs.
Additional Rs. 10 lakh for death in action against terrorist/ Naxalites/foreign enemy.
Xpress Credit, Home loan, Car loan and Education loan are available at competitive rates. 100% waiver of processing fee on Xpress Credit, Car loan and Home loan.
Users will get upto 25% off on annual locker rental.
Eligibility Criteria
Serving personnel of the Indian Coast Guard, who have their Salary accounts with SBI can avail of Salary Accounts under Indian Coast Guard Salary Package (ICGSP). Retired Personnels can also open / convert their accounts in ICGSP. Only serving personnel can open this account.
Available in three variants, namely Gold, Diamond and Platinum depending upon the rank of personnel. Gold is for PBORs, Diamond and Platinum for Officers.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Users will get a zero bl.alance account and free number of unlimited transactions across ATMs of any bank in India.
Users will get complimentary personal accident insurance (Death) cover up to Rs. 50 lakhs.
Users will get complimentary air accident insurance (Death) cover up to Rs. 1 crore.
Users will get complimentary personal accidental (Permanent Total Disablement) cover up to Rs. 50 lakhs and complimentary personal accidental (Permanent Partial Disablement) cover up to Rs. 50 lakhs.
Additional Rs. 10 lakh for death in action against terrorist/ Naxalites/foreign enemy.
Xpress Credit, Home loan, Car loan and Education loan are available at competitive rates. 100% waiver of processing fee on Xpress Credit, Car loan and Home loan.
Users will get upto 25% off on annual locker rental.
Users can avail of Auto-Sweep to create e-MODs (Multi Option Deposits) and earn higher interest.
Users can avail of Demat & Online Trading A/c at the time of on-boarding itself.
Users will get free online NEFT/RTGS transactions.
Users can earn points on various transactions through loyalty program "SBI Rewardz".
Cons
Low interest rates.
Application Procedure
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Product Review
Account Opening and Procedure
How to open an Account?
How to Open an SBI Salary Account:
Online Application: Visit the SBI website or use the YONO app to start the application process. You'll likely need to provide details about your employer and income.
Video KYC: SBI often uses Video KYC for online account opening. You'll need to have your Aadhaar and PAN details handy.
Branch Visit (Potentially): While some processes are fully online, you might need to visit an SBI branch to complete certain formalities or verification steps.