Central Government employees can look forward to getting a comprehensive package of financial services in their salary account with Public Sector Banks. The Department of Financial Services has advised Public Sector Banks to create a comprehensive ‘Salary Account Package’ aimed at improving the financial well-being and social security of Central Government employees. Essentially, the corporate salary account of Central Government employees will now enjoy Banking, Insurance, and Cards under one single structure.
SBI’s CGSP account is offered to employees of Ministries and Departments of Central Government, including Defence civilians, employees of Reserve Bank of India (RBI), National Bank for Rural and Agricultural Development (NABARD), and Autonomous Bodies, Academies, and Councils listed in the GOI Directory.
It should be noted that the Corporate Salary Package (CSP) is different from the Central Government Salary Package (CGSP). The CSP account is offered to regular employees of Private or Public Sector Corporations, Public Sector Undertakings, amongst others.
SBI’s Central Government Salary Package is designed for regular employees of Ministries and Departments of the Central Government. Here is a breakdown of all the benefits and features available under the scheme.
Banking Facilities
There is no minimum balance requirement for CGSP accounts. Account holders get 25 cheque leaves free per month (except for bulk requirements), and RTGS/NEFT charges are fully waived.
Setting up standing instructions within SBI is free, and demand draft issuance charges are waived for unlimited drafts, provided the amount is debited through the salary account. Passbooks are available for all accounts, with free updating even at non-home branches.
Employees with a net salary above Rs 50,000 (Diamond variant and above) get a 50% concession on annual locker rent charges.
SBI Rishtey — Family Savings Account: Employees earning over Rs 25,000 (Gold variant and above) can utilize the SBI Rishtey facility, allowing their spouse, children, parents, and siblings to open up to four Family Savings Bank accounts under this scheme.
The account offers zero minimum balance, a free debit card, limitless multicity cheque books, and free accidental insurance coverage of Rs 5 lakh per member (up to Rs 20 lakh total, excluding minors). It also provides free RTGS/NEFT online, free DD issuance if debited through the Rishtey account, a 10% discount on annual locker usage, and the ability to sweep for higher interest. These benefits will continue as long as the salary account relationship is maintained.
Insurance Benefits
For all Central Govt. Permanent Employees except for IAS, IPS, IFS Officers), the benefits are:
Personal Accident Insurance (Death): Rs 100 lakh
Air Accident Insurance (Death): Rs 160 lakh
Permanent Total Disability (PTD): Up to Rs 100 lakh
Permanent Partial Disability (PPD): Up to Rs 80 lakh
Group Term Life Insurance (GTL): Rs 10 lakh
ATM cum Debit Cards
Cards are assigned based on net monthly salary:
Silver (Rs 10,000–Rs 25,000): Free Domestic Classic Debit Card / Free Platinum RuPay Debit Card
Gold (Rs 25,001–Rs 50,000): Free International Gold Debit Card / Free Platinum RuPay Debit Card
Diamond (Rs 50,001–Rs 1 lakh): Free International Platinum Debit Card
Platinum & Rhodium (above Rs 1 lakh): Free International Platinum Debit Card / Free Select RuPay Debit Card
Royale (All IAS, IPS, and IFS officers): Free Select RuPay Debit Card
Debit card issuance and Annual Maintenance Charges (AMC) are free across all variants. All SBI network ATM transactions are unlimited and free. At non-SBI ATMs in India, 10 free transactions per month (financial and non-financial combined) are permitted.
Loans
CGSP customers get concessions on interest rates and processing charges on Personal Loans and Home Loans. Car Loan processing charges are also waived.
Credit Cards
SBI Credit Cards are offered to Central Government employees with the first year free across all variants. Spend-based reversal of renewal fees is available.
Lifestyle benefits include:
Simply Save / Prime / Elite: 8 complimentary domestic lounge visits per year (up to 2 per quarter); 4 complimentary international lounge visits per year (up to 2 per quarter)
AURUM: 16 domestic lounge visits per year (4 per quarter); unlimited international Priority Pass membership with one free guest visit per quarter
Term Life and Health Insurance (Cost to be borne by the central government employee)
Term Life Insurance (via SBI Life Insurance): Cover of Rs 10 lakh to Rs 100 lakh, available only to the salary account holder. Premium starts at Rs 245 per lakh sum assured (exclusive of GST).
Base Health Insurance — Sapphire Classic (via SBI General Insurance): Cover of Rs 2 lakh to Rs 5 lakh for 1 adult to 2 adults plus 2 children. Premium starts at Rs 1,983.
Super Top-Up Health Insurance — Sapphire Super Top-Up: Cover from Rs 10 lakh (with Rs 2 lakh deductible) to Rs 50 lakh (with Rs 5 lakh deductible). Premium starts at Rs 1,521.
Account for Pensioners
Central Government pensioners aged 70 years or below can avail the Comprehensive Pension Package. There is no minimum balance condition, SMS alert charges are nil, and the debit card (RuPay Platinum Gold) is issued free of charge. Personal Accident Insurance (death) cover of Rs 30 lakh is available if found admissible, along with applicable add-on covers.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers are advised to visit the official SBI website or contact their nearest SBI branch for the most current details on eligibility, charges, and benefits under the Central Government Salary Package. Benefits, charges, and eligibility criteria are subject to change at the bank’s discretion. Financial Express does not endorse any specific banking product or service. Readers should independently verify all details, terms, and conditions directly with SBI or a qualified financial advisor before acting on the information provided.