SBI Salary Account - Benefits, Interest Rate, & How to Open Online?

SBI salary account is a zero-balance account for salaried customers that offers free digital banking, unlimited ATM withdrawals, overdraft eligibility, and insurance benefits. SBI salary account benefits vary by package (Corporate, Government, Defence) and salary tier (Silver/Gold/Diamond/Platinum). Interest is paid at the savings account rate, while Auto-Sweep earns FD rates via MOD deposits.

Key Highlights:

• Tier-Based Packages: Silver, Gold, Diamond, Platinum, and Rhodium tiers linked to net monthly income.
• Overdraft Facility: Available after 6 months of continuous salary credits, with limits based on the salary package tier. Not available in the Silver tier.
• Complimentary Insurance: Coverage depends on the package, offering personal accident and air accident insurance at no additional cost.
• Auto-Sweep Facility: Surplus balance is converted into MODs that earn regular FD rates.
• Loan Benefits: Concession in loan processing fees and faster approvals.

What is SBI Salary Account?

SBI salary account is a savings account customised for salaried employees where no minimum balance is required. It provides unlimited ATM withdrawals, free NEFT/RTGS, overdraft after six months of salary credit, and free cheque books. The account also includes insurance cover, discounts on loans, and access to YONO digital banking.

Accounts are differentiated based on net monthly salary in the salary packages offered by SBI:

• Silver Tier: For employees with a take-home income between Rs. 10,000 and Rs. 25,000.
• Gold Tier: For employees with a take-home income above Rs. 25,000 and up to Rs. 50,000.
• Diamond Tier: For employees with a take-home income above Rs. 50,000 and up to Rs. 1,00,000.
• Platinum Tier: For employees with a take-home income above Rs. 1,00,000.
• Rhodium Tier: For employees with a take-home income above Rs. 2,00,000.

SBI Salary Account Benefits

The following are the SBI salary account benefits which you can enjoy:

Zero Balance Requirement 

Your salary account remains active without needing to maintain a minimum balance.

Accessible Anywhere 

You can use your account at any SBI branch nationwide without any restrictions.

Unlimited Free ATM Withdrawals 

Withdraw money from any ATM, including those of other banks, without any extra charges.

Overdraft Facility 

If your salary is credited for six consecutive months and you earn more than Rs. 25,000 monthly, you can avail of an overdraft. This allows you to withdraw up to twice your salary, even if your account has a zero balance. You can access this through chequebooks, ATMs, internet banking, or mobile banking.

Comprehensive Banking Services 

Your salary account has multiple facilities, including free NEFT or RTGS transactions, mobile and internet banking, multiple cheques, demand drafts, SMS alerts, and waived issuance charges.

Locker Rent Discount 

Get a 50% reduction on locker rental charges, making it easier to store your valuables securely.

Demat & Trading Benefits 

You can open a demat account with your salary account and conveniently access online trading services.

Loans at Attractive Terms 

Get home, car, education, and personal loans with a 50% reduction in processing charges and faster approvals.

Insurance Coverage at No Extra Cost

Based on your net salary, you receive complimentary insurance benefits, including personal accident death coverage up to Rs. 20 lakh and air accident death coverage up to Rs. 30 lakh.

Auto-Sweep for Better Returns 

Any excess funds in your account are automatically transferred to a fixed deposit, which earns an interest rate of 4.00%.

Family Banking Benefits 

If your salary exceeds Rs. 25,000 per month, you can open a savings account for up to four family members under the SBI Rishtey scheme. This account requires no minimum balance and offers zero issuance charges on demand drafts and debit cards. 

Easy Investment Options 

You can invest in the Public Provident Fund (PPF) and National Pension Scheme (NPS) through your salary account.

SBI Salary Account Interest Rate

The SBI salary account interest is paid at the standard savings account rate of 2.50% p.a. Auto-Sweep (MOD) balances earn FD rates as per tenure.

How to Open an SBI Salary Account Online?

You need to follow the steps mentioned below to perform the SBI salary account opening online:

• Install the YONO app on your smartphone via the Google Play Store or App Store.
• Choose the ‘New to SBI’ option.
• Tap on the ‘Insta Plus Savings Account’ and check the ‘I want to open a salary account’ option.
• Click on the ‘Start a New Application’ option.
• Choose your employer from the drop-down list.
• Provide your phone number and email ID (if applicable). 
• You will receive an OTP on your mobile phone, which you must enter.
• Next, generate a password for your salary account per the instructions. 
• Give the FATCA declaration.
• Authorise the verification of your Aadhaar by entering your Aadhaar ID number.
• Provide the OTP for Aadhaar validation.
• Your name, date of birth, and address will be automatically retrieved from UIDAI.
• Provide your correspondence address and PAN card number.
• Next, you must provide the following details- educational qualification, marital status, father’s name, mother’s name, spouse’s name, annual income, nominee details and other required details. 
• Choose the SBI home branch.
• Go through the terms and conditions and give the OTP for acceptance.
• Upload the documents related to your salary. 
• A token number will be issued for the salary-based Insta Plus savings account.
• Tap on the ‘Start or Schedule video call’ option.
• You must complete the video call, and your account number will be generated.

How to Open an SBI Salary Account Offline?

To open an SBI salary account offline, visit the nearest SBI branch. You can also fill out the ‘Request a Call Back’ form online, and a bank representative will reach out to guide you through the process.

SBI Salary Account Eligibility

You must be a salaried employee to be eligible for an SBI salary account in 2025. SBI provides various salary account packages customised for employees in corporate institutions, central and state governments, and defence and police forces. 

SBI Salary Account Opening Documents Required

Several documents are required to open an SBI salary account, including: 

• Address and identity proof registered by RBI
• Copy of PAN card
• Proof of employment or service certificate
• Latest salary slip
• Your recent passport-size photograph

It is important to note that if you want to open the SBI salary account jointly, both applicants must provide the required documents mentioned above.

SBI Salary Account Opening Charges

SBI does not charge any fees for opening a salary account. However, for some types of SBI salary accounts, you need to have a minimum monthly take-home salary of Rs. 10,000.

SBI Salary Account Opening Minimum Balance

Generally, opening an SBI salary account does not require you to maintain a minimum balance. 

SBI Salary Account Maintenance Charges

There are no maintenance charges for opening an SBI salary account. 

Final Word

SBI salary accounts offer a range of benefits, from zero balance requirements to free transactions, overdraft facilities, and complimentary insurance coverage. You can open an account easily through the YONO app or by visiting an SBI branch. Additionally, whether you are a corporate employee, government staff, or defence personnel, an SBI salary account ensures seamless banking with added financial perks.

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