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SBI has renewed its Memorandum of Understanding (MoU) with the Indian Army to offer benefits to all serving as well as retired Army Personnel and their families through its Defence Salary Package (DSP) Scheme.
Under this MoU, SBI offers zero-balance Savings Bank accounts with complimentary benefits and waiver of service charges.
“Attractive interest rates and concession on processing charges are offered to serving personnel on Home Loan, Car Loan, Education loan, and Xpress Credit Personal Loan,” India’s largest bank said in a statement.
Further, the bank is offering benefits through complimentary Personal and Air Accidental Insurance (Death) covers, additional cover in case of on-duty death, Permanent Total Disability / Partial Disability covers.
Going forward, Veterans would also be eligible for complimentary Personal Accidental (Death) Insurance, irrespective of age, SBI said adding, family pensioners will also be eligible for a bouquet of benefits.
SBI said it also supports children’s education and marriage of girl child of deceased Army personnel.
Emphasising that SBI always believed in providing the best value in its engagement with Army personnel, who dedicate their lives for the safety of our nation and citizens, Dinesh Kumar Khara, Chairman, said the Defence Salary Package (Army) ensures ease of access to banking facilities to them and their families.
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