State Bank of Patiala - Blending Modernity with Tradition

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Corporate Salary Package

To meet the requirements of our corporate clients the Bank has decided to introduce a new product as “CORPORATE SALARY PACKAGE” for the employees of Institutions/Corporate with three variants:

A. Corporate Salary Account – Silver
B. Corporate Salary Account – Gold
C. Corporate Salary Account – Diamond

This offering of new product “Corporate Salary Package” is a bundle of several benefits at the core of which is a Savings Bank Account without any minimum balance requirement. The focus is to enter into corporate tie-ups with reputed Corporates and Institutions for their employees. The proposition offered to these companies/institutions is that if they open their salary disbursal accounts with our Bank, their employees will get a plethora of benefits in assets products. This will help us to build a good relationship with the Corporates/ institutions, and employees for which the starting point of the relationship is the Salary Account.

The details of the product features of variants “A, B & C” are as follows :-

	Silver	Gold	Diamond
Eligibility	Gross Monthly Salary up to Rs 20,000/-	Gross Monthly Salary between Rs 20,001 and Rs.50,000/-	Gross Monthly Salary between Rs 50,001/- and above
Minimum Balance	Nil	Nil	Nil
ATM cum debit card	Free –Domestic Card. No annual maintenance charges	Free-International Card. No annual maintenance charges	Free- International Card. No annual maintenance charges
Internet Banking	Free	Free	Free
Core Power	Free upto Rs 20,000/- per transaction Above Rs.20,000/- Rs20/- per transaction	Free upto Rs 20,000/- per transaction Above Rs.20,000/- Rs20/- per transaction	Free upto Rs. 20,000/- per transaction. Above Rs.20,000/- Rs20/- per transaction
Cheque Book	40 leaves free in a year, extra leaves available at Rs 2/- per leaf.	50 leaves free in a year, extra leaves available at Rs 2/- per leaf.	No limit on the number of Cheques.
Multi City Cheques	Cheque Leaf Charges : Nil Cheque issue charges : Free	Cheque Leaf Charges : Nil Cheque issue charges : Free	Cheque Leaf Charges : Nil Cheque issue charges : Free
Easy Overdraft upto 2 Month’s Salary	Rate of Interest : 3.50% above BPLR i.e.16.50% Overdraft limited to 2 month’s Net Salary. Adjusted into the next salary(ies) within a period of 6 months. Can be converted into a Personal Loan on application/ request.	Rate of Interest : 3.50% above BPLR i.e. 16.50% Overdraft limited to 2 month’s Net Salary. Adjusted into the next salary(ies) within a period of 6 months. Can be converted into a Personal Loan on application/ request.	Rate of Interest : 3.50% above BPLR i.e. 16.50% Overdraft limited to 2 month’s Net Salary. Adjusted into the next salary (ies) within a period of 6 months. Can be converted into a Personal Loan on application/ request.
Optional Account Statement in Lieu of Passbook	Free – Quarterly. The customers have a choice between account statement and passbook. If account statement is selected, passbook will not be issued.	Free – Quarterly. The customers have a choice between account statement and passbook. If account statement is selected, passbook will not be issued.	Free – Quarterly. The customers have a choice between account statement and passbook. If account statement is selected, passbook will not be issued.
Transactions at ATM	Any number of transactions subject to a maximum limit of Rs. 15,000/- per day	Any number of transactions subject to a maximum limit of $ 1,000 per day for International Card	Any number of transactions subject to a maximum limit of $1,000 per day for International Card
Money Multiplier (Auto Sweep Facility)	Threshold Amount minimum Rs.10,000/- TDR/STDR to be created for a minimum amount of 5,000/- and in multiples of Rs.1,000/- thereafter	Threshold Amount minimum Rs.10,000/- TDR/STDR to be created for a minimum amount of 5,000/- and in multiples of Rs.1,000/- in one instance thereafter	Threshold Amount minimum Rs.10,000/- TDR/STDR to be created for a minimum amount of 5,000/- and in multiples of Rs.1,000/- in one instance thereafter
Pass Book	Available	Available	Available

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