Why to Earn 3.5% interest on STATE BANK OF INDIA Savings Account being a Indian Railway Employee ???

 Need 5.25 % + Interest ???

 Just Convert your Salary Savings Account to Railway Salary Package Account.

 What is Railway Salary Package Account ???

 " RAILWAY SALARY PACKAGE " is a SPECIAL SALARY account offered to Indian Railway Employees.

 Who are Eligible to Take Railway Salary Package Account ???

 All the Employee of
  • Indian railways
  • Konkan Railway Corporation
  • Kolkata Metro
  • Delhi Metro Rail Corporation Ltd.
  • Mumbai Metro
  • Bangalore Metro Rail Corporation
Different Types of Accounts for different level Employees :

PLATINUM ACCOUNT:

Eligibility:
  • Princiapl HOD
  • General Manager
  • Member of the Railway Board
DIAMOND ACCOUNT:

Eligibility:
  • Head of the Department
  • Junior Administrative Officer (Grade officer)
  • Selection Grade (JAG Officer)
GOLD ACCOUNT:

 Eligibility:
  • Senior Scale Officer
  • Office Supervisor
  • Superintend Junior Scale Officer
SILVER ACCOUNT:

Eligibility:
  • Group - C Staff (Junior Clerk, Senior Clerk )
  • Group - D Staff ( Peons, Gangmen, Helpers, Khalasi Helpers)
Benefits of Railway Salary Package Account to Employees :
  • Zero Balance Account
  • Free Internet Banking
  • Free Debit Card
  • 2 months net salary Overdraft facility
  • Unlimited transactions across all ATMs of any Bank
  • Free online NEFT/RTGS.
  • Free SMS Alerts.
  • Free Multi City Cheques.
  • Free Issuance on drafts.
  • 25% off on Locker Charges
  • Accidental Insurance Coverage (Death) upto Rs.20 lakhs.
  • Air Accidental Insurance Coverage (Death) upto Rs.30 lakhs.
  • Credit Card Facility
  • Regular offers on Debit card YONO by SBI.
  • Earn point on various transactions through SBI rewardz program.
  • Personal Loans, Home Loans, Car Loans and Education with attractive interest rates and also with 50% off on processing fees.
  • 3-in-1 Online Trading Account starts from the time of opening thing this account.
  • Auto-Sweep availability to create MOD (Multi Option Deposits)  to earn higher interest.
What is MOD ???

MOD is a Multi Option Deposits option facility where need to select o earn Higher Rate of interest.

How to Enable MOD (Multi Option Deposits)???
  • Login to your account through online
  • Click on Request & Enquiries
  • Click on More
  • Click on Sweep Creation for CSA
  • Click on Enable Sweep Facility
  • Enable your account eMOD facility
How to earn higher rate of Interest ???

When we enable MOD facility automatically whenever we maintain more than Rs.35,000 
then automatically,
Rs.10,000 will be paid normal interest and
the amount more than Rs.25,000 will automatically convert to fixed deposits and later on we can withdraw this amount at any time.
Based on the withdrawal time period
Higher rate of interest will be paid in our account

How much INTEREST I can earn and what is the time period i need to maintain my Balance ???

The interest Rates for the SBI MOD is the same as that for fixed deposits in SBI are as follows :
Time Period
Interest Rates (Per annum)
7 days to 45 days
5.25%
46 days to 179 days
6.5%
180 days to 210 days
6.75%
211 days to less than 1 year
7 %
1 year to 455 days
7.25%
456 days to less than 3 years
7.5%
More than 3 years and less than 10 years
7%

How To Apply For Railway Salary Package Account ???
  • Need a personal request letter to Branch Manager, to convert current savings account to Railway Salary Package Account.
Need to enclose following items with letter :
  • Bank Pass Book photocopy.
  • Railway Identity card.
  • Last 3 months Salary Pay Slips.
  • Salary certificate issued from the office.