Dear Veteran brothers,
We understand that, still
many of our veteran brothers are not aware of the DSP – DEFENCE SALARY PACKAGE ACCOUNT. When you are in service, you might have
opened Bank account , mostly in State Bank Of India.That account is called DSP
.It is OK. But after
discharge/Retirement from service, The DSP – Salary account is to be
converted as Defence pension
Account. Please check the first page of
Pass Book, where the Type of account may be
Savings Normal or DSP. This is to be changed as Def Pen Gold ,Platinum ect according to our
Ranks. If it is not there, you have to give an application for
converting in to Defence Pension account. This is to avail many benefits like
Accident Death If this account holder
happens to meet an accident and died, his NOK will be given an amount of 50
lacs from Insurance company. This is the
Major benefit. Many more benefits
as under.
1.Zero balance account
with no charges for maintaining minimum balance.
2. Free Un-limited ATM
transactions across all banks ATMs in
India
3.Free multi-city cheques,
demand drafts and SMS alert. No
commission.
4.Free online fund
transfers via NEFT and RTGs.
5.Free demat and online
trading account services.
INSURANCE COVER.
6. complementary Personal
Accidental Insurance (death ) cover of 50 lacs
will be payable to NOK.
7.Air Accident insurance
cover (death ) on eligible ticket upto ONE CRORE.
8. Additional
coverage for permanent total or partial
Disability in specific variants.
LOANS AND CONCESSIONS:
9. 100% waiver of
processing fees for SBI Personal Loans and Housing Loans.
10. Concessions up to 25%
to 50% off on Annual Safe Deposit Locker rentals.
11. Auto-sweep facility (e-MODs) to earn higher rate of interest on
surplus threshold amounts.
These are the benefits
available to DSP/ Def.Pension accounts,
SBI gives maximum benefits.
Senior Veterans are
requested to convey this message to our fellow veterans and Families.
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