Saturday, April 17, 2010

SBI launches defence salary package for Indian Air Force

The State Bank of India (SBI) today launched a defence salary package for the Indian Air Force with an array of concessional services such as zero balance accounts, interest rate concessions on loans, preferential allotment of lockers and free mobile banking.

"I recommit that SBI would serve the very best we can," SBI chairman O P Bhatt said at the launch of the product here.

The package includes free drafts and free cheque books and provides for free funds transfers to any of the State Bank Group's network of almost 16,000 branches or any other bank in India, besides free ATM cards and other features.

SBI further said that it plans to add 5,000 ATMs to its existing count of 20,000, which will benefit more than one lakh Air Force personnel, as the bank intends to establish a large number of ATMs to serve Air Force formations.

The package enables Air Force personnel to open zero balance accounts with an unique lifetime account number, valid even after retirement, and offers free mobile banking services, preferential allotment of lockers and interest rate concessions on home, car and personal loans, among others.

"The bank's network of business correspondents appointed in unbanked rural areas will also be available for the basic banking requirement of the Air Force personnel and their families," SBI said.

Speaking on the occasion, Air Chief Marshal P V Naik said, "I hope SBI would meet the expectations of defence personnel," adding that he would urge the SBI chairman to translate it into a reality at the earliest.

A similar package was announced for Army and Navy personnel earlier.


  1. I am a Indian army soldier, The army given a privelege to our soldiers through SBI. We get pay from DSP. But When I approach SBI branch for personal loan where I receive pay, they given irresponce wording to me. So the SBI cannot give better services like that Axis Bank, ICICI and most of the SBI staffs are known the facilities of DSP (With include the Branch Manager also. Indian Army Officers can draw their pay through any of the Bank. Indian Army soldiers also be allow to get their pay from any of the bank in India.

  2. it is good for all of us but conditions are not clear,facilities are not clear dont know how munch loan i can take in which intrest
    nk/na tushar munde

  3. eligibility of the scheme to ex-servicemen

    J A Vincent SGT 209037 Indian Airforce

  4. It is a very good package designed by SBI. I appreciate the chairmen and the team very much as they atleast honored Defence personnel in such a way. but sorry to say, the staff and bank managers of SBI branches are not so thoughtful towards this facility. the dealing is not at all progressed in the SBI branches. Twenty years back, a SBI clerk delt the same way as it is today. No change in their attitude and working style. i would like to suggest please make face lift to the staff of SBI to behave properly. and still if they don't understand, please ask them to see how other banks like ICICI, AXIS banks staff works. God bless SBI.

  5. Good package for soldiers