The Railway Salary Package (RSP) by the State Bank of India (SBI) is a special salary account designed exclusively for employees of Indian Railways, Kolkata Metro, and Konkan Railway Corporation. This account offers zero-balance facilities, exclusive banking privileges, and high-value insurance benefits.
RSP Eligibility Based on Pay Band Level
Table of contents
| Account Variant | Applicable Pay Band Level |
|---|---|
| Silver | Level 1 – 4 |
| Gold | Level 5 – 7 |
| Diamond | Level 8 – 9 |
| Platinum | Level 10 – 13A |
| Rhodium | Level 14 & Above |
Key Benefits of SBI Railway Salary Package (RSP)
Banking Features
- Zero Balance Salary Account.
- Unlimited free transactions at all SBI ATMs.
- Free Demand Drafts, Multi-City Cheques, and SMS Alerts.
- Free NEFT and RTGS online transactions.
- Auto-Sweep facility to create e-MOD for earning higher interest.
- Option to open Demat & Trading Account during onboarding.
- Up to 50% discount on Locker Charges.
- SBI Rishtey Program for family member savings accounts.
Insurance Benefits under RSP (Updated 2024–2025)
| Insurance Type | Coverage Amount | Effective From |
|---|---|---|
| Personal Accident (Death) | ₹1.00 Crore | 04.09.2024 |
| Air Accident (Death) | ₹1.60 Crore | 04.09.2024 |
| Permanent Total Disablement | ₹1.00 Crore | 04.09.2024 |
| Permanent Partial Disability | Up to ₹80 Lakh | 04.01.2025 |
| Group Term Life Insurance (Natural Death) | ₹10 Lakh | Applicable |
Note: All insurance benefits are complimentary for RSP account-holders. No premium and no medical test required.
Loan & Credit Benefits
- Personal, Home, Car, and Education Loans at attractive interest rates.
- Up to 50% discount on Loan Processing Charges.
- Exclusive debit card offers and cashback rewards via YONO.
- Earn reward points on transactions through SBI Rewardz.
Benefits for Railway Offices (HR / Accounts)
- Zero charges for salary disbursement.
- Corporate Internet Banking reduces paperwork and improves processing efficiency.
- Instant salary credit facility.
- On-site or online employee onboarding support by SBI officers.
Why RSP is Trusted by Lakhs of Railway Employees?
- Zero Maintenance Cost
- High Insurance Protection
- Easy Account Management
- Exclusive Employee-Centric Features
Conclusion
The SBI Railway Salary Package is one of the most beneficial salary account schemes available for Railway employees, offering unmatched insurance coverage, banking convenience, and loan benefits. If you are a Railway employee and maintain your salary account with SBI, you are automatically eligible to enjoy these features.