State Bank of India SGSP

What are benefits to Employers and Employees from Salary Accounts Under State Government Salary Package (SGSP) in State Bank of India? Please tell me about Salary Accounts Under State Government Salary Package (SGSP) in State Bank of India.

Here I am giving information about benefits to Employers and Employees from Salary Accounts Under State Government Salary Package (SGSP) in State Bank of India:

Salary Accounts Under State Government Salary Package (SGSP)

Benefits to the Employer
Convenient way to manage salaries across a large number of centers through Core Power and the Bank's award winning Corporate Internet Banking
Employees receive instant credit of salaries
Reduces employer's paperwork and salary administration cost.
No charges for uploading of salaries

Benefit to the Employee
Convenience of Anywhere Banking at
53,000 plus ATMs of State Bank Group
Free Internet Banking, Mobile Banking
The largest network of more than 16,000 Core Banking Branches
Extensive alternative channels.

Complete gamut of Banking Services including:-
Various Personal loans like Home loan/ Auto loan/ Xpress Credit loan, etc. at attractive terms
Auto sweep (in & out) facility (on request)-Surplus amount in Savings bank account beyond threshold balance is transferred automatically into Term Deposits (multi option deposits) in multiple of Rs.1000/- and vice versa
Zero Balance Account facility with no penal charges for non-maintenance of minimum balance
Free personalized Multi City Cheques
Free Personal Accident Insurance (Death) Cover to Primary Salary Package Account*
SMS Alerts
Easy overdraft up to 2 months' salary repayable within 6 months*
Systematic Investment Plan in Mutual funds
RTGS/NEFT
Maximum daily withdrawal of Rs. 40,000 on Domestic Cards, Rs. 50,000 on Gold Cards and Rs. 1,00,000 on Platinum Cards.
Facility for Auto Sweep Switch On/Off through Internet Banking
Range of other value added benefits
Free Debit Cards : Domestic cards for Silver Accounts, Gold Debit cards for Gold and Diamond Accounts and Platinum Debit Card for Platinum Accounts.
Free Core Power: Anywhere banking facility with the widest network of more than 16,000 branches. Free updating of pass-books at any branch
Demat facility, 3-in 1 Trading Account available
Unique Lifetime Account Number

Package variants available as per designation of personnel
SILVER: GROSS MONTHLY SALARY `5,000/- AND UP TO `20,000/-

GOLD: GROSS MONTHLY SALARY `20,000 AND UP TO `50,000/-

DIAMOND: CLASS 2 EMPLOYEES I.E. GAZETTED OFFICERS, ASST DIRECTORS ETC OR EMPLOYEES WITH GROSS MONTHLY SALARY `50,000 AND UP TO `1,00,000/-

PLATINUM: CLASS 1 EXECUTIVE GRADE1 LIKE COMMISSIONERS, COLLECTORS, HOD, DIRECTORS, PS, SECRETARY OR EMPLOYEES WITH GROSS MONTHLY SALARY `1,00,000/-

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Answered By StudyChaCha Member