If you are serving or retired from the Defence Forces, Central Armed Police Forces (CAPF), or Indian Coast Guard, there is good news for you. State Bank of India (SBI) has introduced important upgrades in its Defence Salary Package (DSP), CAPSP and ICGSP to make these accounts more rewarding, respectful, and customer-friendly.
These changes include the introduction of a premium “Rhodium” variant and better concessions on annual locker rent, along with several powerful banking and insurance benefits.
Let us understand everything in simple, layman’s language, keeping you—the customer—at the centre.
What Is the SBI Defence Salary Package (DSP / CAPSP / ICGSP)?
SBI’s Defence Salary Package is a specially designed salary account for:
- Indian Army, Navy & Air Force personnel
- Central Armed Police Forces (CAPF)
- Indian Coast Guard (ICG)
- Pensioners and Shaurya family pensioners
These accounts offer zero balance banking, free transactions, insurance cover, and loan concessions as a mark of respect for your service to the nation.
What’s New ? Key Highlights at a Glance
Introduction of Rhodium Variant
A new top-tier premium account for very senior officers.
Improved Locker Rent Concessions
Higher discounts on annual locker rent across variants.
No Change in Existing Core Benefits
All existing benefits like zero balance, free ATM transactions, insurance cover, and loan concessions remain unchanged.
Account Variants Explained (Serving Personnel)
SBI now offers four variants under DSP / CAPSP / ICGSP:
Gold Variant
- Eligibility: Personnel up to Subedar Major & equivalent
- Minimum Balance: Nil
- Locker Rent Concession: 10%
Diamond Variant
- Eligibility: Officers from Lieutenant to Major
- Locker Rent Concession: 15%
Platinum Variant
- Eligibility: Lieutenant Colonel to Brigadier
- Locker Rent Concession: 50%
NEW: Rhodium Variant (Premium)
- Eligibility: Major General & above (and equivalent ranks)
- Locker Rent Concession: 50%
- Status: Elite banking experience with maximum privileges
Who Is Eligible for the Rhodium Variant?
The Rhodium variant is designed for India’s top defence leadership, including:
- Chief of Defence Staff (CDS)
- Chiefs of Army, Navy & Air Force
- Major General, Lieutenant General, Vice Admiral, Air Marshal
- Director General & Additional Director General ranks in CAPFs
This is SBI’s way of honoring senior leadership with premium banking benefits.
Locker Rent Concessions – Now More Attractive
One of the biggest customer-focused changes is higher locker rent discounts:
| Variant | Locker Rent Concession |
| Gold | 10% |
| Diamond | 25% |
| Platinum | 50% |
| Rhodium | 50% |
This means real savings every year for you and your family.
Zero Balance & Everyday Banking Benefits (All Variants)
No matter which variant you fall under, you enjoy:
- Zero balance account (no minimum balance required)
- Unlimited free transactions at SBI ATMs
- 10 free transactions per month at other bank ATMs
- Free debit card (International Gold / Platinum)
- No annual maintenance charges
- 25 free cheque leaves per month
- Free RTGS & NEFT
- Free demand drafts (when issued through salary account)
- Auto sweep facility available
Family Banking Made Easy – SBI Rishtey
Your family members can also benefit through SBI Rishtey Family Savings Account.
Eligible Family Members:
- Spouse
- Children
- Parents
- Siblings
Benefits for Family Accounts:
- Zero balance
- Free debit card
- Free ATM transactions
- Free demand drafts
- Auto sweep facility
- 10% locker rent concession
- Personal accident insurance up to ₹5 lakh (except minors)
Powerful Insurance Cover for Serving Personnel (Up to ₹1.5 Crore)
SBI offers complimentary insurance cover to serving personnel:
Personal Accident Insurance (PAI)
- Death cover: Up to ₹1 crore
- Permanent disability: Up to ₹1 crore
Air Accident Insurance
- Cover up to ₹1.5 crore
Additional Special Covers Include:
- Air ambulance expenses
- Imported medicine transportation
- Burn surgery expenses
- Child higher education cover
- Girl child marriage cover
- Death during duty abroad
- Death in action / terrorist attacks
These benefits provide financial security and peace of mind to you and your family.
Pensioners Are Also Covered – No One Is Left Behind
Pensioner Account Benefits:
- Zero balance
- Free debit card
- Free RTGS/NEFT
- Locker rent concession up to 50%
- Complimentary personal accident insurance
- Free cheque leaves
- Loan processing fee waived
Shaurya Family Pension Account:
- Special account for family pensioners
- Gold debit card
- Zero balance
- Free standing instructions
- Free pension loan processing
Big Savings on Loans (Valid Till 30 June 2027)
SBI is offering 100% waiver on processing fees for:
Serving Personnel:
- Home Loan
- Car Loan
- Xpress Credit Loan
Pensioners:
- Home Loan
- Car Loan
- Pension Loan
Why This Matters to You
Dear Sir/Madam, these changes are not just policy updates—they are customer-first improvements:
- More savings through locker concessions
- Premium recognition with Rhodium variant
- Strong financial protection for families
- Respect for both serving members and pensioners
SBI continues to stand with India’s defenders—during service and beyond retirement.
Final Words
If you or your family member is eligible under DSP, CAPSP, or ICGSP, we strongly recommend visiting your nearest SBI branch or speaking with your relationship manager to upgrade or understand your variant benefits.
Your service deserves banking that understands your needs.