In today’s fast-paced world, your salary account should do more than just hold your money. It should offer real, tangible benefits that help you and your family. For police personnel and many other essential service providers, the State Bank of India (SBI) Police Salary Package (PSP) is one such powerful tool.
Recently, SBI made some significant changes to this package, making it even more beneficial. Let’s break down what’s new in simple terms so you can understand how these upgrades can help you.
Who Can Get This Account Now?
Earlier, this package was available only for police, homeguards, and central police organisations.
Now, SBI has expanded eligibility. The SBI Police Salary Package was already available to police personnel from various state, UT, and central police organizations like the CBI and NIA. Now, the bank is expanding its reach to include more of our nation’s heroes.
The updated list of eligible people now also includes:
- Regular employees of Home Guards.
- Staff from the Directorate/Department of Prosecution.
- Employees in Civil Defence.
- Forensic Science department personnel in different states.
- Employees of Prison Departments.
- Fire department staff (in departments that function as a unit of the police).
This expansion means more people can now enjoy the powerful benefits of this specialized salary account.
New Tiers, More Benefits
Previously, the package had five tiers: Silver, Gold, Diamond, Platinum, and Rhodium. Now, three new variants of Police Salary Package namely CPSP-Gold, CPSP-Diamond and CPSP-Platinum have been introduced for classification/identification of central police organisation (CBI,NIA,NCRB etc) employees to better serve different groups, SBI has introduced new variants specifically for central police organizations. This new classification helps the bank provide even more tailored benefits.
The tiers are still based on your net monthly salary, but the benefits have been supercharged. Let’s look at the key upgrades:
| Tier | Net Monthly Salary | Key Upgrades |
| Silver-Homeguard | All Homeguard Volunteers | Personal Accident Insurance (Death): Increased from ₹1 lakh to ₹5 lakh. |
| Gold | > ₹25K to ₹50K | Personal Accident Insurance (Death): Increased from ₹10 lakh to ₹15 lakh. |
| Diamond | > ₹50K to ₹100K | Personal Accident Insurance (Death): Increased from ₹15 lakh to ₹20 lakh. |
| Platinum | > ₹100K to ₹200K | Personal Accident Insurance (Death): Increased from ₹20 lakh to ₹100 lakh! |
| Rhodium | > ₹200K | Personal Accident Insurance (Death): Increased from ₹20 lakh to ₹100 lakh! |
| SBI Royale | All IPS officers | Personal Accident Insurance (Death): Up to ₹130 lakh. |
Revised Insurance Benefits
SBI has enhanced the insurance cover for different variants:
- Silver (Homeguard Jawans): Insurance cover up to ₹5 lakh.
- Gold: Accident cover up to ₹15 lakh + Air Accident cover ₹5 lakh.
- Diamond: Accident cover up to ₹20 lakh + Air Accident cover ₹20 lakh.
- Platinum: Accident cover up to ₹20 lakh + Air Accident cover ₹30 lakh.
- Rhodium: Enhanced insurance cover up to ₹1.6 crore (PAI + AAI + PTD + PPD combined).
- SBI Royale Variant: Special cover up to ₹1.9 crore.
Your New-Age Debit Card: More Than Just Cash
The updated Police Salary Package also comes with a new generation of RuPay Debit Cards, packed with lifestyle benefits you might not expect from a salary account.
Depending on your account variant, you can now enjoy perks like:
- Lounge Access: Free visits to domestic and even international airport lounges.
- Entertainment & Food: Discounts on platforms like Swiggy One and BookMyShow.
- Fitness & Wellness: Special offers on gym memberships and health check-ups.
- Shopping: Exclusive offers on platforms like Amazon Prime and MakeMyTrip.
These aren’t just minor discounts; they are valuable benefits that can significantly improve your daily life and leisure.
SBI Police Salary Package (PSP) – FAQs
Q1. Who is eligible for SBI Police Salary Package?
Ans: All police employees (State/UT/Central), Home Guards, Prosecution, Civil Defence, Forensic Science, Prison, and Fire Department (if part of police) staff are eligible.
Q2. What is the biggest benefit of SBI Police Salary Package?
Ans: The biggest advantage is zero balance account, along with free insurance covers, loan benefits, and unlimited SBI ATM transactions.
Q3. How much insurance cover is available under PSP?
Ans: Depending on your salary tier, you can get up to ₹20 lakh Personal Accident Cover and ₹30 lakh Air Accident Cover. Higher tiers like Rhodium and SBI Royale offer insurance up to ₹1.9 crore.
Q4. Can my family members also get benefits?
Ans: Yes , up to 4 family members can get linked SBI Rishtey accounts and enjoy benefits.
Q5. What happens if salary is not credited for 3 months?
Ans: If no salary is credited for 3 months, your account will be converted into a normal savings account and you will lose PSP benefits.
Q6. Is there any overdraft facility available?
Ans: Yes, you can get an overdraft of up to 2 months’ net salary.
Key Takeaways for You
This isn’t just a simple update; it’s a major enhancement designed to give you more value. The most important things to remember are:
- More People Are Covered: The package now includes professionals from prosecution, prisons, forensics, and fire departments.
- Insurance is Supercharged: The personal accident death insurance has seen a massive increase, especially for Platinum and Rhodium account holders, offering up to ₹100 lakh in coverage.
- New Benefits are Here: The new RuPay cards offer a wide range of lifestyle and entertainment benefits.
Remember, to keep enjoying these amazing benefits, your salary must be regularly credited to your account. If it doesn’t receive salary for three consecutive months, it will revert to a standard savings account.
This new and improved Police Salary Package is a powerful way for SBI to show its commitment to the brave men and women who serve our country.
The revised SBI Police Salary Package (PSP) is a big step towards giving more financial security and benefits to police personnel and related departments. From zero balance banking to high insurance covers and family benefits, SBI has ensured that our frontline protectors and investigators get the respect and financial support they deserve.
If you are a police employee or belong to the eligible departments, this is the perfect account to secure your future and enjoy exclusive banking privileges.
Do you have an SBI Police Salary Package? Share your experience with the new benefits in the comments below!