eCircular
Department: PBBU - CORPORATE AND INSTITUTIONAL TIE-UPS
Sl.No.: 1479/2022 - 23
Circular No.: NBG/PB/C^ITU-CSP/12/2022 – 23
Date: Tue 28 Mar 2023
The Chief General Manager
State Bank of India
Local Head Office
All Circles/ CCG/ CAG/ SARG etc.
Madam / Dear Sir,
SALARY PACKAGE ACCOUNTS:
CORPORATE SALARY PACKAGE (CSP)
SPECIAL SALARY PACKAGE FOR EMPLOYEES OF SELECT CAG/ CCG CORPORATES,
CONSULTANCY FIRMS (CFs) & CREDIT RATING COMPANIES (CRCs)
In Salary Package portfolio, at present major share is contributed by Government Departments,
Institutions, Defence Forces etc. and share from Private Corporates is not significant. It is
observed that in the current economic scenario, anticipated growth journey of India is expected
to provide enormous impetus to the employment opportunities across sectors and it is envisaged
that higher job opportunities will be created in Private Sector than the Government and Defence
Sectors. This segment will be more capable of impacting overall Life-time Value concentration.
2. In this context, to improve our penetration in Private Corporates vis-à-vis our peers in
terms of Salary Accounts, Retail Loan products and to compete with Private Banks, Competent
Authority has approved enhancements as under for select Corporates under CAG/ CCG
Vertical, Consultancy Firms and Rating entities (List of Corporates attached as Annexure – I),
as under.:
a) Two variants of Salary Package Accounts instead of existing four variants, namely,
(i) Diamond Variant (Net Salary upto ₹ 1 Lakh), (ii) Platinum Variant (Net Salary > ₹ 1
Lakh).
b) Platinum Debit Card under both the variants (i) Diamond Variant (ii) Platinum Variant.
c) Other benefits as available to aforesaid variants under our Corporate Salary Package will
continue to be available as hitherto.
d) Comprehensive benefits under the package to these Corporates are attached as
Annexure-II.
e) Enhanced benefits will only be applicable if the Salary Accounts are tagged with respective
Employer Codes as mentioned in (Annexure – I).
3. Please advise all operating functionaries to note contents for meticulous compliance.
Yours faithfully,
(Aditya Kumar Sengar)
Chief General Manager (PB)
Annexure - I
Employer
CUSTOMER Category
Code
78634418418 AMUL INDUSTRIES PVT LTD CCG
90236532164 GLENMARK LIFE SCIENCES LTD CAG
80569383057 GLENMARK PHARMACEUTICALS LTD CAG
85271060944 GODREJ AGROVET LIMITED CAG
91067596632 GODREJ FINANCE LIMITED CAG
90671069559 GODREJ HOUSING FINANCE LIMITED CAG
80569381107 GODREJ INDUSTRIES LTD CAG
80569383002 GODREJ PROPERTIES LTD CAG
85030348686 HINDUSTAN COCA-COLA BEVERAGES PVT.LTD. CCG
80288730362 ITC LIMITED CCG
90490364467 JOYVILLE SHAPOORJI HOUSING PVT.LTD. CCG
85598587403 LULU INTERNATIONAL SHOPPING MALLS PVT LTD CCG
88396423146 LULU IT INFRABUILD PRIVATE LIMITED CCG
80871942546 LUPIN LIMITED CAG
80569382156 MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD CAG
80569382032 MAHINDRA AND MAHINDRA LTD. CAG
80871945434 MAHINDRA CIE AUTOMOTIVE LIMITED CCG
85880459195 MAHINDRA HEAVY ENGINES LTD CAG
89757820136 MAHINDRA HOLIDAYS & RESORTS INDIA LIMITED CAG
80569382167 MAHINDRA INTERTRADE LIMITED CAG
85200214741 MAHINDRA RURAL HOUSING FINANCE LTD CAG
80569381855 RAYMOND LTD CCG
80569381550 RAYMOND LUXURY COTTONS LTD CCG
80569383546 RAYMOND UCO DENIM PRIVATE LTD CCG
80178338803 SCHNEIDER ELECTRIC INDIA PVT LTD CAG
86496660188 SHAPOORJI PALLONJI & COMPANY PRIVATE LIM ITED CAG
80569381027 SIEMENS LTD CAG
85132002029 TATA POWER CO LTD (ERSTWHILE COASTAL GUJA RAT POWER) CAG
80569381594 TATA POWER COMPANY LIMITED CAG
80216112614 TATA POWER DELHI DISTRIBUTION LTD CAG
86194375944 TATA POWER RENEWABLE ENERGY LTD CAG
80394883579 TATA POWER SOLAR SYSTEMS LTD (TATA BP SO LAR INDIA LTD) CCG
80508828668 TATA STEEL BSL LIMITED (TATA STEEL LTD) CAG
80761479579 TATA STEEL DOWNSTREAM PRODUCTS LIMITED CCG
80569381210 TATA STEEL LIMITED CAG
80569383160 VEDANTA LIMITED CAG
80569381061 BRITANNIA INDUSTRIES CAG/ CCG
AAJCT1836F TI CLEAN MOBILITY CAG/ CCG
85020256231 SUN PHARMA CAG/ CCG
85256269990 ALOK INDUSTRIES CAG/ CCG
AACCB8671R BAIN & CO. CFs
AARFG0505D PWC INDIA CFs
89233993150 ERNST & YOUNG LLP CFs
AABCC8003B TRANSUNION CIBIL CRCs
AABCE6822A EXPERIAN CREDIT INFORMATION COMPANY OF INDIA PVT. LTD. CRCs
AABCH7570C CRIF HIGH MARK CREDIT INFORMATION SERVICES CRCs
Annexure – II
Comprehensive Salary Package Features for employees of select CAG/ CCG
Corporates, Consultancy Firms (CFs) & Credit Rating Companies (CRCs)
Benefits/ Qualifiers Platinum Diamond
Eligibility (Net Monthly
Above Rs.1,00,000/- Upto Rs.1,00,000/-
Salary Credit)
Minimum Balance NIL
Complimentary Personal
Accidental Insurance
(Death) cover (Available
for Permanent
Rs. 30 lakh Rs. 20 lakh
employees with Salary
accounts under Silver,
Gold, Diamond, Platinum
variants only)
Additional Personal
Accident (Death)
Rs.5 lakh on Platinum Debit Card
Insurance Cover on Debit
Card (Master/Visa) *
Complimentary Air
Accidental Insurance
(Death) cover
(Air ticket should have
been purchased by debit Rs. 60 lakh Rs. 30 lakh
to Salary Package
Account, or where ticket
is provided by
department for official
duty)
Additional Air Accident
Insurance (Death) Cover
Rs.10 lakh on Platinum Debit Card
on Platinum Debit Card
(Master/Visa)*
Add on covers on death (a) Cost of Plastic Surgery in Burn cases - Maximum upto Rs. 10 lakh
due to accident: (b) Transportation of Imported medicine - Maximum upto Rs. 5 lakh
(Available only if the (c) Death in Coma (after more than 48 hrs) of accident - Maximum
Personal Accidental upto Rs. 5 lakh
Insurance (PAI) Claim is (d) Air Ambulance – Maximum upto Rs. 10 lakhs
accepted as a valid (e) Higher Education (Only Graduation): - 25% of PAI cover, maximum
claim) Rs. 10 lakh
(f) Girl Child Marriage (18-25 age) – 20% of PAI cover, maximum Rs.
10 lakh
(g) Family Transportation - Maximum upto Rs. 50,000/- (cost of travel
incurred by immediate 2 family members to reach place of accident
(h) Repatriation of mortal remains - Maximum upto Rs. 50,000/
(i) Ambulance Charges – Maximum upto Rs. 50,000/-
Purchase Protection on
Debit Cards
(Master/Visa)* Rs. 2 lakh
Easy Overdraft up to 2 Maximum limit Rs.2,00,000/- Maximum limit Rs.1,50,000/-
Month’s Net salary,
subject to min residual
service of 6 months
Concession in Annual
50 % of applicable rate 15% of applicable rate
Locker Rental
Multi City Cheques
issuance 25 Cheque Leaves per month free
RTGS/NEFT Charges Waived
Setting up Standing
Instructions Free
(Within SBI)
Charges for issue of Waived, irrespective of number and amount of drafts, if issued from
Demand Draft Salary Package Account
Available for all accounts
Passbook
Free updating at Non-Home Branches
Free issuance of #International Debit card (Platinum)
A T M cum Debit Card #Issued to those CSP account holders who request for issuance of
International Debit Card
No annual maintenance charges
Transactions at any Bank
Unlimited number of transactions at any Bank’s ATM
ATMs
Free facility offered from SBI Charges applicable to third party sites like
Internet Banking Railways etc. payable
Auto Sweep Facility Threshold Amount: Rs.35,000/- TDRs/STDRs to be created for a
(Available only on minimum amount of Rs.10, 000/- (and in multiples of Rs.1, 000) in any
customer’s request) one instance
Reimbursement Current Available, No minimum balance, ATM linked to CSP Account, No
Account Account keeping charges
National Pension System
Available
(NPS)
Public Provident fund
Available
(PPF)
Sukanya Samriddhi
Available
Scheme
SBI Foreign Travel Card Available
SBI Mutual fund Available
Range of exclusive Credit Cards with attractive features as per terms &
SBI Credit Card
conditions of SBI Cards
YONO (Transaction Banking along with timely lifestyle offers
Digital Platform and discounts)
Internet Banking (INB) (Convenience Banking)
* Insurance cover on Platinum Debit Cards (Master / Visa) only and is subject to change at the time of
renewal of Insurance Policy and in accordance to the type of Debit Card possessed by the customer.
Terms and Conditiona apply.
*All related offer is subject to regular Salary Credit in SBI Salary A/C tagged with proper Employer Code, features are subject to change
from time to time, Terms and Conditions apply.
