STATE BANK OF INDIA - SALARY ACCOUNT UNDER DEFENCE SALARY PACKAGE (DSP)
(Details of Benefits given below and a vodeo on the package in Hindi embedded at the end)
Defence personnel of the Army, Navy, Air Force, Indian Coast Guard, Assam Rifles, Rashtriya Rifles (RR) and GREF [Border Road Organisation (BRO)] can avail of Salary Accounts under Defence Salary Package (DSP)
Available in four variants, namely Silver, Gold, Diamond and Platinum categorised on the rank of the personnel of Army, Navy, Air Force, Assam Rifles, RR and GREF (Border Road Organisation). PBORs are categorised in the Silver Variant; Officers are categorised under Gold, Diamond and Platinum Variants
DSP- GREF General Reserve Engineering Force & BRO Border Road Organisation
The following features are not available to pensioners:
(Details of Benefits given below and a vodeo on the package in Hindi embedded at the end)
Defence personnel of the Army, Navy, Air Force, Indian Coast Guard, Assam Rifles, Rashtriya Rifles (RR) and GREF [Border Road Organisation (BRO)] can avail of Salary Accounts under Defence Salary Package (DSP)
Available in four variants, namely Silver, Gold, Diamond and Platinum categorised on the rank of the personnel of Army, Navy, Air Force, Assam Rifles, RR and GREF (Border Road Organisation). PBORs are categorised in the Silver Variant; Officers are categorised under Gold, Diamond and Platinum Variants
DSP-Army
SILVER: JCOS & OTHER RANKS
GOLD: LIEUTENANT, CAPTAIN, MAJOR
DIAMOND: LT COLONEL AND COLONEL
PLATINUM: BRIGADIERS, MAJOR GENERAL, LT. GENERAL, GENERAL
DSP-Navy
SILVER: SEA II, SEA I, LEADING SEAMAN, PETTY OFFICER, CHIEF PETTY OFFICER, MASTER CHIEF PETTY OFFICER-II AND MASTER CHIEF PETTY OFFICER-I
GOLD: SUB LIEUTENANT, LIEUTENANT AND LIEUTENANT COMMANDER
DIAMOND: COMMANDER, CAPTAIN.
PLATINUM: COMMODORE, REAR ADMIRAL, VICE ADMIRAL AND ADMIRAL
*DSP Accounts of Sailors joining Navy before they attain majority, will be opened without the Overdraft facility and Personal Accident Insurance Cover / Air Accident Insurance Cover
DSP-Air Force
SILVER: PERSONNEL BELOW OFFICER RANK
GOLD: FLYING OFFICER, FLIGHT LIEUTENANT, SQUADRON LEADER
DIAMOND: WING COMMANDER, GROUP CAPTAIN
PLATINUM: AIR COMMODORE, AIR VICE MARSHAL, AIR MARSHAL, AIR CHIEF MARSHAL
DSP- GREF General Reserve Engineering Force & BRO Border Road Organisation
SILVER: PERSONNEL BELOW OFFICER RANK
GOLD: ASST. ENGINEER/ ASST. ADMINISTRATIVE OFFICER, ASST. EXECUTIVE ENGINEER/ ADMINISTRATIVE OFFICER/ MEDICAL OFFICER II, EXECUTIVE ENGINEER/SENIOR ADMINISTRATIVE OFFICER/ MEDICAL OFFICER I
DIAMOND: SUPERINTENDENT ENGINEER/ JOINT DIRECTOR (ADMINISTRATION), SUPERINTENDENT ENGINEER (SELECTION GRADE)/ DIRECTOR (ADMINISTRATION)
PLATINUM: CHIEF ENGINEER, ADDITIONAL DIRECTOR GENERAL, DIRECTOR GENERAL
DSP-Assam Rifles
SILVER: LANCE NAIK, NALBAND, HAVALDAR, WARRANT OFFICER, HAVALDAR MAJOR, NAIB SUBEDAR, SUBEDAR, SUBEDAR MAJOR
GOLD: DEPUTY COMMANDANT, ASSISTANT COMMANDANT (EQUIVALENT TO LT AND CAPT IN THE ARMY)
DIAMOND: COMMANDANT, SECOND-IN-COMMAND (EQUIVALENT TO MAJOR, LT COL AND COL IN THE ARMY)
PLATINUM: PERSONNEL AT THIS LEVEL ARE BEING DEPUTED FROM ARMY AND DSP ARMY WOULD BE OFFERED TO THEM.
DSP-Rashtriya Rifles
PERSONNEL IN RASHTRIYA RIFLES ARE ON DEPUTATION FROM INDIAN ARMY AND HENCE COVERED UNDER DSP ARMY. ACCOUNTS ARE CLASSIFIED AS PER RANKS IN ARMY
Benefits to the Employees
- Zero balance account and free unlimited transactions across ATMs of any Bank. Also comes bundled with SBI Credit Card.
- Complimentary Personal Accident Insurance (Death) cover up to Rs. 20 Lakhs.
- Complimentary Air Accident Insurance (Death) cover up to Rs. 30 Lakhs.
- Avail of Personal Loans, Home Loans, Car Loans and Education Loans at attractive rates and 100% waiver on processing fees.
- Upto 25% off on locker charges
- Avail of Auto-Sweep to create e-MODs (Multi Option Deposits) and earn higher interest.
- Avail of Demat & Online Trading A/c at the time of on-boarding itself.
- Free issuance of Drafts, Multi City Cheques, SMS Alerts. Free online NEFT/RTGS.
- Overdraft equivalent to 2 Months Net Salary (Currently available for select customers only)
- Earn points on various transactions through our loyalty program SBI Rewardz.
- Host of regular offers on Debit Cards and YONO by SBI
- The facilities under DSP accounts will be continued even for pension accounts after retirement provided the Ex-Service personnel is drawing his pension through our Bank. The existing pensioners, who have retired prior to the introduction to DSP are eligible for facilities under Defence Salary Package.
The following features are not available to pensioners:
- Two months salary as Overdraft
- X-press credit personal loan
- Free Personal Accident Insurance (death) Cover with ad-on benefit
- Air Accidental Insurance (death) cover
Benefits to the Employer
- Hassle-free account opening process. On request, our officials will visit your premises to on-board your employees. Employees can also opt to open their accounts online or by visiting the nearest branch.
- A convenient way to manage salaries across a large number of centres, through the Bank's award-winning Corporate Internet Banking.
- Online facilities reduce paperwork and salary administration cost. Enjoy instant credit of salaries to your employees' accounts.
- Zero charge for salary disbursement.
- Equipping your employees with a power-packed Salary Account that is trusted by the largest organisations in India
Pensioners were already eligible to convert their account into DSP account. In fact I got my account converted to the DSP more than two years back. But even though the account is being shown to the bank staff as DSP, I cannot view anywhere that it is a DSP account.
ReplyDeleteFurther, as per the facilities available to DSP account, money transfer by NEFT is free, however whenever I transfer money by NEFT, it is charged. WHen I pointed it out to the Bank, they blame the software for it. The software of the SBI which used to be one of the best is not so good now.
For example, earlier I used to get a message regarding any new bills, as soon as I logged in, but that has stopped happening now. One has to go to bill section to know whether any new bill is there or not. And if you miss to do it, face the consequences related to non payment of bill.
I have raise these issues, with the Manager of SBI Nirman Bhawan, without any avail. I was called to the Branch, whenever I made a complaint, with the promise that when u come this time it will be sorted out but nothing gets sorted out.
Fed up, I raised the issue with the CMD of the SBI at Bombay. He once again forwarded it to the SBI Nirman Bhavan, who once again called me to the branch, with the promise that they would sort out the problems surely this time, but this did not happen.
I got a follow up call also from CMD office that whether my issues have been resolved, and I told him that they have not been resolved and after that, everything went quiet.
I wrote once again to the CMD that the problems cannot be solved at the Branch level and would have to be solved with the help of the technical team. This was about 5 months ago. So far I have not heard anything, nor has there been any change in the behaviour of the software. Everything has gone on the deaf ears. The problems may be small but they are irritating.
Idea was to tell that DSP account is nothing new.
(I have not mentioned all the problems that I mentioned to the CMD, that exist in the software in this comment.)
Dear Brig Dhand, Is this Def salary package authorised to Veterans?
ReplyDeleteAlso do we have to request the bank for it,ie if authorised? Mode of application?
SBI says this package is applicable for only serving personal and not for retired pensioners. Can anyone explain the authority for availing this package for veterans
ReplyDeleteThe facilities under DSP accounts will be continued even for pension accounts after retirement provided the Ex-Service personnel is drawing his pension through our Bank. The existing pensioners, who have retired prior to the introduction to DSP are eligible for facilities under Defence Salary Package.
ReplyDelete