NEWS & ADVICE : PERSONAL LOAN
SBI launches product for Army personnel
By Vaibhav Aggarwal
Jun 2, 2009
Print    Email    RSS   

Banking major, State Bank of India has introduced the ‘Defence Salary Package-Army' for the officials of Indian Army.

A unique product, the Defence Salary Package-Army offers an array of subsidised banking services like concessional loans, complementary chequebooks, issuance of free drafts, free fund transfer across the SBI network of 15,000 branches and free ATM cards. The Defence Salary Package accountholders will continue to draw benefit from the product even after their retirement from the service.

The card would enable the army personnel posted in far-off areas to use modern banking facilities. SBI plans to add 13,000 ATMs to expand its existing network of 11,865 ATMs. Besides this, the bank also plans to have a network of business correspondents in un-banked rural areas to serve the banking needs of troops in such far off areas. This would be technically enabled by the SBI Tiny, a biometric smart card.

O.P. Bhatt, SBI Chairman, said, "Defence salary package is a gift wrapped with love from SBI employees to the Army."

Bhatt also revealed that the bank is eyeing to offer auto loans, home loans and personal loans to Army personnel at 25 basis points lower than the actual floor rates. The bank is also planning to offer a customised credit card for the armed forces. It is considered that once the product is rolled out for the entire army network, SBI will have nearly 12 lakh customers in its fold.

 


(Comments Posted : 33) Post Your Comments
1. I live in USA Florida and i am a happy woman today? I told my self that any Loan lender that could change my Life and that of my family, i will refer any person that is looking for loan to Them. If you are in need of loan and you are 100% sure to pay back the loan please contact them and please tell them that Mr Alfred Kessinger, Lynn referred you to them. am.invest@hotmail.com
kendra faith (Posted: Oct 11, 2016)
2. I live in USA Florida and i am a happy woman today? I told my self that any Loan lender that could change my Life and that of my family, i will refer any person that is looking for loan to Them. If you are in need of loan and you are 100% sure to pay back the loan please contact them and please tell them that Mr Alfred Kessinger, Lynn referred you to them. am.invest@hotmail.com
kendra faith (Posted: Oct 11, 2016)
3. Do you need a personal or business loan without stress and quick approval? If yes, contact us today as we are currently offering loans at superb interest rate. Our loan is secured and safe, our customers happiness is our strength. For more information and Application, Contact Us Now VIA EMAIL: wilson_loanfirm07@yahoo.co.uk
John Wilson (Posted: Nov 17, 2015)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Loan against Securities: A viable...
Pros and Cons of Personal loans
Benefits and drawbacks of personal loans...
Personal Loan Vs. Cash advance from credit...
A chronicle of excesses by loan recovery...


HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive