SBI Salary Package (SGSP): Features, Eligibility, Insurance & Loan Benefits
On this page: Eligibility & Variants • Key Benefits • Variant-wise Snapshot • Loan Concessions • Super Top-up Plan • FAQs
The State Bank of India’s State Government Salary Package (SGSP) is designed for State Government and Union Territory employees, including teachers and professors. It offers zero balance, strong insurance protection, loan concessions, and convenient banking privileges.
Eligibility & Variants
Choose your variant based on net monthly salary:
| Variant | Net Salary (₹) |
|---|---|
| Silver | 10,000 – 25,000 |
| Gold | 25,001 – 50,000 |
| Diamond | 50,001 – 1,00,000 |
| Platinum | 1,00,001 – 2,00,000 |
| Rhodium | Above 2,00,000 |
Key Insurance & Banking Benefits
- Accident & Life Covers: Personal Accident Insurance up to ₹1 crore, Air Accident Insurance ₹1.6 crore, Permanent Total Disability up to ₹1 crore, Group Term Life Insurance ₹10 lakh.
- Add-ons (variant-linked): Air ambulance, plastic/burn surgery costs, family transportation & repatriation, girl child marriage and higher-education covers.
- Zero Balance: No monthly average balance (MAB) requirement.
- Free services: Internet banking, online NEFT/RTGS, multi-city cheques (up to 25/month), free DDs via salary account.
- Locker concession: Up to 50% on higher variants.
Variant-wise Snapshot
| Feature | Silver | Gold | Diamond | Platinum | Rhodium |
|---|---|---|---|---|---|
| Eligibility (Net Salary) | ₹10k–25k | ₹25k–50k | ₹50k–1L | ₹1L–2L | ₹2L+ |
| Minimum Balance | Nil (Zero MAB) | ||||
| Locker Rent Concession | — | — | — | Up to 50% | Up to 50% |
| Transfers & DDs | Online NEFT/RTGS free; DDs free when issued via salary account | ||||
| Insurance Limits | Core covers on all; higher limits on Platinum/Rhodium | ||||
Loan Concessions
- Home Loan: 100% processing fee waiver for builder tie-up cases; otherwise appraisal costs only.
- Other loans: Flat/waived processing charges on select products; margin relaxation up to 90% finance; extra rate concession for Platinum on eligible loans.
Super Top-up Health Plan (Optional)
Access to a super top-up health insurance (Bajaj Allianz) with sums insured up to ₹30 lakh, daycare and AYUSH coverage, and cashless at network hospitals.
- Entry age: 18–65 (children 3 months–25 years)
- 60 days pre- & 90 days post-hospitalization covered
- Renewable up to 75 years
FAQs
Is SGSP truly zero-balance?
Yes. There’s no monthly average balance requirement.
Which variant should I choose?
Pick the tier that matches your net monthly salary. If your salary changes, ask SBI to upgrade/downgrade the variant.
Do all variants get the same insurance?
Core covers apply across tiers; limits and add-ons scale up on higher variants.
Are loan concessions automatic?
They depend on the product and your variant. Mention you’re an SGSP holder when applying.
Disclaimer: Benefits/limits are based on SBI’s SGSP document and may change. Confirm the latest at your branch.
Related: Best Salary Accounts in India (Comparison) • SBI Rishtey Family Account • Home Loan Guides
