SBI Salary Package Account

State Bank of India

The SBI Salary Package Account is a specialised savings account designed for salaried employees of central and state governments, public sector undertakings (PSUs), defence establishments, and large corporates that have a corporate salary tie-up with State Bank of India. As India's largest public sector bank, SBI operates a network of more than 22,500 branches and over 65,000 ATMs across India, making the salary account accessible to employees in metros, tier-2, tier-3 towns, and rural districts alike. The account is opened through the employer under SBI's corporate salary package programme, and the employer credits the monthly salary directly into the account. The account carries an interest rate of 2.7% per annum on positive balances, aligned with the prevailing RBI repo-linked savings bank rate applicable to SBI savings accounts. It is a zero-balance account: the minimum average balance (MAB) requirement is fully waived as long as the monthly salary credit is maintained. If the salary credit is missed for two consecutive months, the account is treated as a standard SBI Savings Account for MAB purposes, and the standard MAB slab of the branch then applies. Account holders get free unlimited NEFT, RTGS, and IMPS transactions through the YONO mobile app, YONO Lite, and SBI net banking. The YONO platform also integrates investments, mutual funds, personal loans, and credit card services in a single login, and supports UPI through the YONO SBI handle. A complimentary SBI Salary Package Debit Card is issued at account opening, with domestic and international ATM and POS acceptance; higher variants of the debit card are issued based on the salary slab. The premium variant of the Salary Package Account includes a personal accident insurance cover of up to ₹5 lakh and an air accident cover of up to ₹10 lakh, subject to the salary credit and slab. On retirement, resignation, or job change, the account is automatically converted to a regular SBI Savings Account without any fresh documentation, ensuring uninterrupted banking services. The SBI Salary Package Account is suited to government employees, PSU staff, defence personnel, and employees of corporates with an active SBI corporate tie-up. Source: State Bank of India official website, updated May 2026.