India's largest lender State Bank of India (SBI) offers some benefits other than the zero-balance facility to those who have salary account in SBI. However, it is completely vested with the recruiter as to which bank they prefer for opening a salary account for its employees.
SBI salary account benefits include insurance benefits; rebate in personal loan, home loan, car loan, education loan, etc, according to the official website of SBI — sbi.co.in. SBI salary account-holders can also get some other benefits apart from these facilities.
SBI salary account benefits: Here are the five benefits
-50 percent rebate in loan processing fee: A SBI salary account holder is eligible for 50 percent processing fee on any loan like personal loan, home loan, car loan, etc.
-Rebate in locker charges: SBI offers up to 25 percent off on locker charges to its salary account holders.
-Accidental death cover: SBI salary account holders are entitled for up to Rs 20 lakh accidental death cover.
-Overdraft facility: State Bank of India offers overdraft facility to its salary account holders too. The largest commercial bank of India gives up to two month salary under overdraft facility to the SBI salary account holders.
-Air accidental death cover: As per the official SBI website — sbi.co.in, in case of air accidental death, the SBI salary account holder is entitled for Air Accidental Insurance (Death) cover up to Rs 30 lakh.
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