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SALARY ACCOUNTS UNDER CORPORATE SALARY PACKAGE (CSP)Salary Accounts under CSP offers a gamut of privileges commensurate with Gross Monthly Salary to the employees of Corporates and Institutions including Service organizations such as Hospitals, Hotels, Transport Corporations etc. Our Salary accounts are offered in four variants, i.e. Silver, Gold, Diamond and Platinum depending on the gross monthly income of employeesThe Package can be specially customized depending upon the business relationship that the Corporate / Institution has with the Bank.Benefits to the EmployerConvenient way to manage salaries across a large number of centers through Core Power and the Bank's award winning Corporate Internet BankingReduces employer's paperwork and salary administration cost.No charges for uploading of salariesEmployees receive instant credit of salariesBenefits to EmployeesConvenience of Anywhere Banking atThe largest network of more than 16,000 Core Banking BranchesExtensive alternative channels.53,000 plus ATMs of State Bank GroupFree Internet Banking, Mobile BankingComplete gamut of Banking Services including:-Unique Lifetime Account NumberZero Balance Account facility with no penal charges for non-maintenance of minimum balanceAuto 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 versaFacility for Auto Sweep Switch On/Off through Internet BankingFree Personal Accident Insurance (Death) Cover to Primary Salary Package Account*Free personalized Multi City ChequesRTGS/NEFTFree Core Power: Anywhere Banking facility with the widest network of more than 16,000 branches. Free updating of pass-books at any branch.Easy overdraft up to 2 months' salary repayable within 6 months *SMS AlertsFree Debit Cards : Domestic cards for Silver Accounts, Gold Debit cards for Gold and Diamond Accounts and Platinum Debit Card for Platinum Accounts.Maximum daily withdrawal of Rs. 40,000 on Domestic Cards, Rs. 50,000 on Gold Cards and Rs. 1,00,000 on Platinum Cards.Various Personal loans like Home loan/ Auto loan/ Xpress Credit loan, etc. at attractive termsAdditional employee Reimbursement Current Account for crediting reimbursementsDemat facility, 3-in 1 Trading Account availableSystematic Investment Plan in Mutual fundsRange of other value added benefits

BOI Silver Current Account is at Minimum AQB(Average Quarterly Balance) of Rs 20,000/- which comes with a host of privileges.Name of SchemeSilver Current AccountCash Deposit Facility (Base & Non-Base Branches)Unlimited (subject to chargeable for cash handling charges(applicable when you deposit above 1 lakh), Currently- 1 rupees per thousand + G.S.T 18% ). For silver account 90% charges i.e 90 paise per thousand plus G.S.T.Base Branch Cash Withdrawal FacilityUnlimitedNon-Base Branch Cash Withdrawal FacilityCash withdrawal up to Rs 50,000/- per day at other than Base branch.Note: Third party withdrawl not allowed in Non-Base Branch.Fund TransferFree Funds Transfer within the bank (Self A/c or Third party A/c)90% of normal charges to apply on Collection of Cheques across Bank of India locations all over the countryCheque BookFree 25 Cheque leaves per QuarterNEFT/RTGS90% of normal charges to apply on payment of NEFT/RTGS whereas Collection is freeof costFree NEFT/RTGS payment through Net BankingDemand Draft/Pay Order3 DD/ PO - Free per Quarter (up to Rs.5.00 Lacs per instrument)Special Privileges25 % Waiver of Processing Charges on Retail Loans*Free Gold International Corporate Credit Card*Corporate Salary Package available*Cash Management facility at attractive rates*Waiver of AMC Charges on Demat A/c for Ist YearAncillary ServicesPhone BankingCorporate Net bankingFree statements of AccountMissed Call alert facility for obtaining account balanceOnline Income Tax return filing facilityFree utility bills payment facility through E-payATM cum International Business Debit Card

As per the SBI business rules,the person who is eligible for Corporate Salary Package is required to approach his 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 monthly salary above Rs.5,000/- p.m. CSP account can be opened at all SBI Branches in India.One can approach us in any of the following ways:Walk into the nearest State Bank of India, Branch.Our Sales team / Branch Staff will visit your office premises at a time and date of your convenience for making a presentation of the Salary Package.Existing Accounts can also be converted to CSP accounts, if there is a tie up.As per the above notification, the pre-conditions required to be fulfilled is that, the corporate/employer has to have a tie up with the SBI for crediting the salary to its employees;The corporate/employer has at least 25 employees having a gross salary of above ₹ 5k per month;The bank allows you to convert your ordinary SB account into a CSP account;Therefore, first find out from your employer that a tie-up arrangement with the specific branch has been entered into, else request the employer to enter into one, for crediting the salary to the account in that branch —if that is confirmed you can arrange with the bank to convert your ordinary sb to a salary account;However, additional conditions conditions are imposed by the bank that,Four variants, namely Silver, Gold, Diamond and Platinum are available, depending on the level of the employee's gross monthly salary or Rank/ Designation of the employee. These variants have different facilities on offer.“ The Minimum salary payout of the Corporate/ Institution should be ₹.1.25 lakhs p.m. Where the accounts to be opened are less than 25 numbers the facility will be decided based on business consideration.“The employee can open account in any of their branches in India and employer can remit from a single point. Salaries can also be credited by the employer through NEFT, RTGS, ECS etc.I suggest that you open a salary account with the branch where the tie-up is already in vogue, and continue with your ordinary sb account with the existing branch; for the simple reason that whenever you leave the corporate, you can close that corporate salary account and revert to your existing ordinary sb account — as each employer might have tie-up with different banks;Also look into the features of ‘Employee Reimbursement Account’ which the bank offers,Employee Reimbursement accounts are offered to employees of Corporates already having a Salary Package Account relationship with State Bank.Various Reimbursements other than salaries paid by the employees can be routed through this account.The account is a Current Account with Zero Balance feature and no annual maintenance charges.It is linked to the primary Salary Account.It provides a very hassle free and convenient way of reconciliation both for the corporate and the employee.The same ATM cum Debit Card issued to the Salary Account can be linked to Employee Reimbursement Account.For more details pl refer to : State Bank of IndiaI find a lacuna in one of the conditions imposed by the SBI wrt opening of salary account with the specific branch where the employer has a tie up arrangement for crediting salaries to its employees; since the Bank has implemented CBS, the tie-up could be arranged with the bank rather than a single branch; by this the employees can be benefited by opening their salary account in any branch of their choice;The process defined under the FAQs is not clear about the exact procedure to be followed for converting a regular SB into a salary account; Probably they want you to visit their premises for getting the request satisfied;