CUSTOMS PREVENTIVE DIVISION, BAREILLY
EKATA NAGAR BRANCH, BAREILLYThe public sector State Bank of India (SBI),Ekata Nagar Branch, Bareilly has tied up with us i.e. Customs Preventive Division, Bareilly on 22/01/11 for offering a customized salary package to our Officers and staff.
The package will offer, among other facilities, a "unique lifelong account number" which can be retained despite transfer and even after retirement to draw pension.
According this tie up, SBI will offer, free anywhere banking and Free ATM GOLD international Visa Card for every officer and staff.
This package also offers automatic sweep to multi-option deposits ensuring higher yield on the salary savings and also free personal accident insurance for Rs.4 lac. There are also free drafts, free Multi city cheque books and free transfer of funds.
Other initiatives under this package include Concessional rates of interest on any loan and Overdraft Facility for limited to 2 months net salary etc.
All our Officers and Staff welcomed this package and my boss i.e. Assistant Commissioner Customs Preventive Division, Bareilly, Shri Dev Prakash Bamanavat appreciated my diligence to open corporate salary package for our employees. Hence I suggest all viewers to press their D.D.O. to tie up with the SBI bank to open their corporate salary accounts.
Following are the features of SBI CORPORATE SALARY PACKAGE are given below:-
Minimum 25 Employees
Minimum Gross Monthly income Rs.5000/-
Minimum monthly salary payout of Rs.1,25,000/- for the employer
Available in four variants i.e. Silver, Gold, Diamond and Platinum depending on the monthly income of employees
2.Benefits to the Employer
Provides a convenient way to manage salaries across a large number of centers through Core Power and the Bank's award winning Corporate Internet Banking
Reduces employer's paperwork and salary administration cost. No charges for uploading of salaries.Employees receive instant credit of salaries.
3.Benefits to the Personnel
• Employees will enjoy convenience of Anywhere Banking at the largest network of more than 13000 Core Banking Branches
• Extensive alternative channels.
21000 plus ATMs of State Bank Group
Free Internet Banking, Mobile Banking
• Complete gamut of Banking Services including :-
• Zero Balance Account facility with no charges for non-maintenance of minimum balance
• Free unlimited withdrawal from SBI ATMs subject to daily caps
• Free Personal Accident Insurance Cover to International Gold ATM Card Holders of Gold and Diamond accounts and International Platinum ATM Card Holders of Platinum accounts
• Retain same account number even when the account is transferred to another branch
• Free personalized Multi City Cheques and free personalized Ordinary Cheque Books
• Free Mobile Banking including free transfer of funds upto Rs.50,000/-
• Free SMS Alerts/ e- Statements/ Internet Banking
• Easy overdraft upto 2 months salary repayable within 6 months
• RTGS/NEFT, Demat facility, Systematic Investment Plan in Mutual funds.
• Concession in interest on Home loans,Auto Loans,Education Loan and Personal Loan etc.
• Concession in Processing Fee and Margin on retail loans
• Waiver of Demat Account opening charges
• Concession on purchase of Gold Coins
• Range of other value added benefits
• Free Core Power: Anywhere Banking facility with the widest network of more than 13,000 branches, This includes free transfer of funds between SBI branches, free udating of pass-books at any branch, etc.
1. What is Corporate Salary Package( CSP) ?
This is a bundle of facilities offered to employees of Corporates, SMEs, Educational Institutions, Govt.,(State/Central)establishments /organizations, service organizations such as hospitals, hotels, transport corporations etc.,
2 .The facilities offered ?
* Employees can open Zero Balance accounts
* Free ATM cum Debit Cards
* Can avail Core Banking Facility across all branches
* Free multi city cheques
* Easy overdraft facility
* Internet banking facility
* Utility bill payments through internet
* Remittance facilities through RTGS/NEFT
* Statement through e-mail
* SMS alert
* Reduced interest rates on loans etc
* Minimum Salary Rs.5000
* Minimum Number of employees 25
* Employer will have a tie-up with SBI
4 .Type of account/Variants
* 4 variants depending upon the GROSS SALARY OF EACH EMPLOYEE. (SILVER,GOLD,DIAMOND,PLATINUM)
* Silver - Gross Salary (GS) Rs.5000-Rs.20000
* Gold- GSRs.20001/--Rs.50000/-
* Diamond – GS Rs.50001/- to Rs.100000/-
* Platinum – GS more than Rs.1 lac.
* Different facilities are offered for different categories
5. Minimum Balance:-Nil
6. Cheque Books:- 25 Leaves free in a year
7. Multi City Cheques (AT par cheques) * Issued without charges
* Maximum amount per cheque Rs.2 Lakhs
8 Internet Banking:- Free internet banking which permits utility bill payments/fund transfer etc
9. Restrictions in Transaction at the Branch:- NIL
10. ATM cum Debit Card
* For silver variant domestic ATMcum Debit Card issued
* For GOLD/DIAMOND and PLATINUM accounts international ATMcum Debit Card issued
11. Maximum Withdrawal at ATM s
* Rs.40,000/- for domestic cards
* Rs.50,000/- for International Cards
12. Free Insurance
* Free cover on accidental death for ATM GOLD international Card holders
13. Transactions at ATMs other than that of SBI Group
* For ATM Gold Card holders Free at other bank ATMs, Chargeable for domestic card holders.
14. Internet Banking/Statement on Email/SMS alerts/RTGS/NEFT :- Available
15. Reimbursement Current account:- Available
16. AUTO SWEEP:- Free auto sweep facility to transfer amount to Fixed deposits
17. SMS alert/Statement in Email:- Available
18. Pass book :- Available
19. Transactions at other branches (Anywhere banking):- Core Power facility available Rs.25000 per day
20. Concessions in Interest rates :- Reduction of 0.25% from card rates of interest for housing loan, car loan, education loan, personal loan etc.
21. Overdraft Facility :- Limited to 2 months net salary.
Q.How can one open a salary account with SBI under the Corporate SalaryPackage(CSP)?
A.The person who is eligible for Corporate Salary Package is required to approachhis employer to have a formal arrangement with Bank for remitting the salary to the concerned branch(es) provided the organization has at least 25 employees with gross salary above Rs.5,000/- p.m. For this purpose any Branch of SBI can be approached.
Q.What if the organization has a lesser number of employees than the prescribed 25 Employees ?
A. The branches will decide opening of accounts based on the merit of each case and hence you may approach the nearby branch.
Q. What are the product features of CSP ?
A. The main features of the CSP are zero balance, free ATM-cum-Debit Card (Domestic Debit Card for Silver category and International Debit Card for Gold, Diamond andPlatinum categories), free Internet Banking, Core Power (under which we offer banking at any of our over 13200 branches across India ),Multicity cheques, Optional Account Statement in lieu of passbook, Utility Bill Payment at select centre, Savings Plus (Auto Sweep Facility)etc.
Q. What are the types of accountsavailable to the customer?
A. Four variants, namely Silver, Gold, Diamond and Platinum are available, depending on the level of the employee’s gross salary. These variants havedifferent facilities on offer.
Q. Can gross salary below Rs.5,000/- be considered for Corporate Salary Package?
A. Yes.Such employees will be considered provided they are not more than 20% of the total employees of an organization who are having salary accounts with the Bank, and the facility will be decided on business considerations by the branch. So they can approach their nearest branch.
Q. Is upgradationfrom one variant to another variant is possible?
A. Yes. The customer has to produce proof of gross salary per month and accordingly the upgradation in the variant will be made. E.g. from Silver to Goldetc.,.
Q. What are the documents required for opening a salary account?
A.The following documents are needed:
Employer’s letter for opening Salary Accounts
Identity Cards issued by the employer
Employer’s letter for proof of residence
Passport size photographs (3nos.)
Salary slips for last three months
For new recruits, a copy of the letter of offer along with salary details
If the employee does not have the address proof , his employer can certify his address in their letter head.
Q. How much can I withdraw from ATM per day?
A. The domestic card permit you withdrawal upto Rs.40,000/- per day without any restriction on the number of withdrawals.
The International Gold card permits withdrawal up to Rs.50,000/- or equivalent of USD1000/- in foreign currency.
Q. Can a customer get a welcome kit containing ATM card, cheque book, internet password at the time of opening the account?
A. Yes. At select centres this facility is available. (where our Liability CPC is functioning)
Q.Are withdrawals at ATMs of banks other than State Bank Group free?
A.For GOLD, Diamond and Platinum accounts withdrawal from ATMs of banks with whom we have arrangements are free. Please note that with around 8500 plus State Bank Group ATMs around you will hardly have any need to use another bank ATM
Q. How is SBI’s ATM network faring vis-à-vis that of others?
A. SBI has the widest network of around 21000 ATMs which no other bank has. Our ATMs are placed even in the remotest villages/ on ferry/ railways stations etc.
Q. Which are all the banks with whom SBI has tie up arrangement?
A. At present there are 49 Banks with whom we have multilateral arrangements under NFS. The list is available in their site http://www.npci.org.in./
Q. How is the salary credited in this accounts?
A. Once the salary accounts are opened, the account numbers will be given by the employee to the employer, who will give the salary list in soft form to the designated branch of SBI for uploading along with instructions to debit the employer’s account.Alternatively, the salary can be uploaded by the employer by using Corporate Internet Banking (CNIB) without the intervention of the branch. The employee can openaccount in any of our 10800 branches in India and employer can remit from a single point
Q.How many transactions can be done in a day using CorePower ?
A. There is no restriction on number of transactions for using Core Power. The limit is Rs. 25,000/- per transaction.
Q. What is a Multi city cheque?
A. Multicity cheque is also known as “at par cheque” and it is payable at all CBS branches (10800 branches presently).The cheques can also be issued to others and is payable in clearing.
Q. Are electronic modes of remittances available for remittance to other Banks?
A. Yes. We offer RTGS/NEFT and also ECS facility to all our Corporate Salary Package holders.Over and above that since 100 % of our branches are running on the latest Core Banking Solutions, remittance between the branches are very easy to make. We are also connected with other remittance channels like SWIFT etc which will ensure trouble free remittance to these accounts from abroad also.
Q. What is Employee Reimbursement Account?
A. Some employees need to maintain a Current Account for crediting various reimbursements given to the employees other than salaries. This current account is known as Reimbursement Current Account.The account will have zero balance feature and no annual maintenance charges are levied.The ATM cum Debit Card issued to the Salary Account will be linked to Current Account and free 50 cheque leaves are also given in a year.
Q. Is there any insurance coverage for customers having corporate salary package with you?
A. For GOLD, DIAMOND and PLATINUM variants we offer ATM GOLD Card which carries an insurance of Rs.4 lakhs against death due to accident. For Silver variants there are no insurance available as of now.
Q. What are the concessions offered to ‘P’ segment (retail) loans under CSP?
A. As part of a comprehensive package, a concession of 25 bps against Card Rates is available for those opting for CSP for Home, Auto and Two wheeler loans for permanent employees with one year service.
Q. What is Auto Sweep?
A. This is a facility to transfer amount over and above the threshold balance to a fixed deposit account to earn higher interest. Ifthe balance in the account is not sufficient to honour a cheque issued, system automatically pre closes the fixed depositand credit the same to your SB account without manual intervention.
Q. What is CORE POWER?
A. This is an ANYWHERE BANKING SERVICE offered to the customers. Presently the amount of transaction is limited to Rs.25000/- per day.
Q. The overdraft facility offered is limited to 2 months net salary only?
A. The customercan convert this overdraft to a Personal Loan account with higher limit based on his Net Monthly income and after a detailed discussion with the Branch Manager.
Q. What is re-imbursement current account?
A. This is a current account opened to receive various reimbursements from the company.