Press Esc to close

SBI defence salary package for Army

Last updated: 30 May, 2009
Press Trust of India,New Delhi: 22:56 IST

State Bank of India on Friday launched a special product called Defence Salary Package (DSP) for Army personnel and aims to open about 12 lakh accounts under the scheme.


“We expects to open about 12 lakh plus accounts under DSP,” SBI Chairman O P Bhatt said at the launch of the new service here. The bank is ready with stationery and application form for opening such huge number of accounts, he said.
“The product offers a bundle of free services to the officers and jawans,” Bhatt said.
The package includes free drafts, free cheque book, free fund transfers to any of the SBI Group’s about 15,000 branches and free ATM cards, he said.
Bhatt said the bank would also offer home, auto and personal loans to Army personnel at 25 basis points lower than the floor rate.
At the same time, bank is contemplating to launch special two-wheeler loan scheme for jawans, he added.
SBI plans to add 13,000 ATMs during the year and intends to locate a large number of ATMs to serve Army formations just as many of its branches are already located in difficult and arduous terrain, he said. SBI is also working with the Army to transfer salary electronically in the accounts, Bhatt said.
The bank also plans to open special grievance cell for the Army personal as well as defence banking advisers, he said.
Besides, the bank is also planning to roll out tailor made products for them, he said, adding that the debit card for the Army personnel will come with host of features.

Go to Top

More from this section
Photo Gallery
Rebel AAP MLA Kapil Misra and BJP MLA Manjinder Singh Sirsa after putting anti-pollution masks on...

Rebel AAP MLA Kapil Misra and BJP MLA Manjinder Singh Sirsa after putting anti-pollution masks on...

IAF planes display an air show during presentation of standards to the 117 Helicopter Unit and 223..

IAF planes display an air show during presentation of standards to the 117 Helicopter Unit and 223..

Forest employees and locals capture a leopard in a cage after it strayed in a village of Udhampur..

Forest employees and locals capture a leopard in a cage after it strayed in a village of Udhampur..

Activists of the Kisan Mukti Sansad hanging dummy bodies of farmers from a flyover during a...

Activists of the Kisan Mukti Sansad hanging dummy bodies of farmers from a flyover during a...

Indian Air Force personnel perform during presentation of standards to the 117 Helicopter Unit...

Indian Air Force personnel perform during presentation of standards to the 117 Helicopter Unit...

A snow cutter machine clears the road after heavy snowfall at Peer Ki Gali in Poonch...

A snow cutter machine clears the road after heavy snowfall at Peer Ki Gali in Poonch...

Students having a view of robots displayed at a stall at

Students having a view of robots displayed at a stall at "20th Bangalore Tech Summit" in Bengaluru..

Russian artists perform a play in Gurugram on Thursday.

Russian artists perform a play in Gurugram on Thursday.

Foreign athletes pose for a group photo during a press conference ahead of the Delhi Half Marathon.

Foreign athletes pose for a group photo during a press conference ahead of the Delhi Half Marathon.

Bollywood actress Vidya Balan during a promotional event in Mumbai on Thursday.

Bollywood actress Vidya Balan during a promotional event in Mumbai on Thursday.

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.