SBI BANK Information

The State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation headquartered in Mumbai, Maharashtra. The company is ranked 216th on the Fortune Global 500 list of the world's biggest corporations as of 2017. 

Customer service: 1800 425 3800

Chairperson: Rajnish Kumar

Headquarters: Mumbai

Founded: 1 July 1955

Subsidiaries: SBI Cards, SBI Life Insurance Company,

Managing directors: Shri P. K. Gupta (Retail, Digital Banking), 

SBI SAVING Type

1.सेविंग्स प्लस अकाउंट
Ishme Saving Account link rhta hain

Jishme 25k se jada rashi hone par fb me fix kar di jaati hain ishka matlab hai ki aap  ko kam se kam 25 ka balance to rakhna hoga. Normal Saving account par aap ko 4% milta hain wahi fd me jama rashi par 6% milta hain

2.बेसिक सेविंग बैंक अकाउंट

YE account 18 saal ya ushe jada ke age wale log open kar sakte hai kyc karna jaruri hain ishme, ye account mostly garib logo ke liye hota hai, unki saving ko badba dene ke liye, ishme aap 0 balance bhi rakh sakte hai. Or ishke sat hap 1 month me 4 bar paise daal sakte hair or nikal sakte hain.bus ishme aap ke upar service charges lagte hain normal.

3.युवा सेविंग बैंक अकाउंट

Ye account 10 saal se lekar 30 saal ke logo ke liye hai. Ishme unko kisi traha ka koi fees ya charges nahi dene hote hai, ishke sath unko atm cheque mobile banking internet jaishe suvida bhi  milti hai

4. नाबालिगों के लिए सेविंग अकाउंट
पहला कदम और पहली उम्मीद अकाउंट छोटे बच्चों के लिए हैं जिन्हे इंटरनेट बैंकिंग, और मोबाइल बैंकिंग जैसी सुविधा इस अकाउंट के जरिये मिलती हैं। यह सिर्फ बच्चों को आधुनिक बैंकिंग के बारे में ही नहीं बताता है बल्कि पैसों की बचत कैसे की जाती है यह भी सिखाता है।

5. प्रीमियम बचत खाता
Ishe Account ko open karne ke liye 10000 rs ki jarurat hoti hain ishme auto swip ki suvidha mil jaati hain auto swip 25000 se upar apply hota hai

6. एसबीआई सैलरी अकाउंट
यह अकाउंट उन लोगों के लिए हैं जिनकी सलैरी या वेतन इस अकाउंट में नियमित रूप से आएगी। यह अकाउंट आप जीरो बैलेंस में खोल सकते हैं। लेकिन ध्यान रहे कि इस खाते में अगर तीन महीने तक सैलरी नहीं आती है तो इसे सेविंग अकाउंट में बदल दिया जाएगा और उसकी एक न्यूनतम राशि बनाए रखनी होगी है।

7. एसबीआई सेविंग अकाउंट पर टैक्सेशन
एसबीआई के सेविंग अकाउंट के बारे में तो हमने पता कर लिया। लेकिन अब जानते हैं कि इन सब अकाउंट कितना कर यानी टैक्स हमें देना पड़ेगा। अगर आपका एसबीआई सेविंग अकाउंट है और आप के अकाउंट में 10000 के ऊपर की राशि है तो उस पर टैक्स लिया जाएगा। वहीं दूसरी ओर अगर आपका FD अकाउंट है तो TDS लगेगा। तो अलग-अलग अकाउंट पर अलग-अलग तरह का टैक्स लगेगा।

8.नो फ्रिल अकाउंट

नो फ्रिल अकाउंट उन लोगों के लिए सही है, जो खाता खोलने के लिए बैंकिंग मानकों और जरूरतों को पूरा नहीं कर सकते। नो फ्रिल अकाउंट में बैंक में न्यूनतम बैलेंस की जरूरत नहीं होती, इसमें बैंक एटीएम की सुविधा देता है । लेकिन बैंक चेक बुक, मोबाइल बैंकिंग और इंटरनेट बैंकिंग जरूरी सुविधा नहीं देता है। इस अकाउंट को खोलने के लिए कोई आयु सीमा नहीं है लेकिन अकाउंट खोलने के लिए KYC फॉर्म को भरना पड़ता है।


Note
SBI BANK CHARGES

SMS CHARGES Rs 15+18% Gst 

                                  SBI Current Account Opening Documents

·         Proof of identity – PAN card, voter ID card, passport, driving license

·         Proof of address

·         Recent Colour Photograph

·         PAN/Form 49 A along with Form 60 if applied for PAN

·         Account opening Cheque from existing Savings/Individual Current Account

·         How much interest is offered by SBI on Current Account?

·          SBI like any other Current Account does not offer an interest on the account.

·         FEATURES			Normal CA
MAB: Monthly Average Balance			Rs. 10,000
Corporate Internet Banking			FREE
Monthly Statement of Current Account			FREE (First / Original)
Duplicate Statement of Current Account			Rs. 100/- + GST per page (40 entries)
Cheque Leaves	Number of Free Multicity Cheque Leaves		First 50 Multicity cheque leaves free in a financial year.
	Cost of Extra Cheque Leaves Above Free Limit		Rs. 3/- + GST per cheque leaf. 25 Leaf Cheque Book at Rs 75/- +GST. 50 Leaf Cheque Book at Rs 150/- +GST
Transfer of Account to other Branch			FREE
Over Draft Facility			NA
Deposits
Cash Deposit (Maximum limit for deposit of cash at Non Home Branch is Rs.2,00,000 per day. Thereafter, Branch Manager of Non Home Branch is vested with discretion to accept more cash.)			Free Upto Rs 25000/- per day Thereafter, Rs. 0.75 per 1000/-+ GST Minimum Rs. 50/- + GST Maximum Rs. 20000/- + GST
Cash Withdrawal	Home Branch		FREE
	Non Home Branch MAX. Rs 1,00,000/- per day (Self Only)		Upto Rs. 50,000 Free. Above Rs. 50,000 and upto 1,00,000 Rs. 2.50/- + GST per Rs. 1000/- Min Rs. 50/- + GST per Transaction
Demand Draft	Upto Rs. 5000		Rs. 25/- (incl. GST)
	Above Rs. 5000/- upto Rs. 10000/-		Rs. 50/- (incl. GST)
	Above Rs. 10000/- upto Rs. 100000/-		Rs. 5/-(incl. GST) per Rs. 1000/- (Min. Rs. 60 incl. GST)
	Above Rs. 100000/-		Rs. 4/-(incl. GST) per Rs. 1000/- (Min. Rs. 600 incl. GST Max 2000/- inc. GST)
Business Debit Card			FREE ATM/DEBIT CARD (1st Year)
Outstation Cheque Collection	Upto Rs. 10000/-		Rs. 50/- +GST
	Above Rs. 10000/- - upto Rs. 1.00 Lakh		Rs. 100/- +GST
	Above Rs. 1.00 Lakh		Rs. 200/- +GST
NEFT	Through Net Banking/Mobile banking		Upto Rs. 10,000 : Rs. 1/-
			Above Rs. 10,000/- and upto Rs. 1.00 lakh : Rs. 2/-
			Above Rs. 1.00 lakh and upto Rs. 2.00 lakh: Rs. 3/-
			Above Rs. 2.00 lakh Rs. 5/-
	At Branch		Upto Rs. 10000: Rs. 2.50/- + GST
			Above Rs 10,000/- and upto Rs 1.00 lakh : Rs 5/- + GST
			Above Rs 1.00 lakh and upto Rs 2.00 lakh: Rs 15/- + GST
			Above Rs 2.00 lakh Rs 25/- + GST
RTGS	Through Net Banking/Mobile banking		From Rs. 2 Lacs to Rs. 5 Lacs : Rs 5/- + GST
			Rs. 5 Lacs Above : Rs 10/- + GST
	At Branch		From Rs. 2 Lacs to Rs. 5 Lacs : Rs 25 + GST
			Rs. 5 Lacs Above : Rs. 50 + GST
Cash Pickup			Available at Normal Charges
Account Keeping Charges			Rs. 550/- + GST
Current Account	Upto 14 days of Opening		Nil
	After 14 Days		Rs. 1000/- + GST
Closing Charges
STANDING INSTRUCTIONS	Setting SI (At Branch)	Intra Bank	FREE
		Inter Bank	Rs. 50/- + GST
		Other Than Bank Transfer
	Processing SI (At Branch)	Intra Bank	FREE
		Inter Bank	Rs. 50/- + GST
		Other Than Bank Transfer
MAB Non - Maintenance Charges per Month		Rs. 500/- +GST Per Month

For further information , Please Contact Nearest SBI Branch or Call - 1800112211 (Toll Free) , 18004253800 (Toll Free) , 08026599990 (Charges Apply)

SBI RD Interest Rates for different Investment Periods

Investment period	RD rates for regular deposit	RD rates for Senior Citizens
1 year to 1 year 364 days	6.80%	7.30%
2 years to 2 years 364 days	6.80%	7.30%
3 years to 4 years 364 days	6.80%	7.30%
5 years to 10 years	6.85%	7.35%

SBI Recurring Deposit Interest Rates

• SBI offers RD interest rates up to 6.95%
• Interest on RD with SBI is compounded quarterly.
• SBI accepts minimum deposits starting at Rs. 100.
• For senior citizens, SBI offers RD rate up to 7.45%.

SBI Recurring Deposit: Special Features

• Nomination facility is available so you can nominate your family members or spouse as the receiver of the final amount
• Loan facility is available up to 90% of your RD amount. State Bank of India also allows you to take an overdraft on the RD amount
• The deposit tenure ranges from 12 months to 120 months
• The minimum amount can be deposited in multiples of Rs. 100
• This service is available in every SBI bank branch. You can visit your nearest branch to start an RD account
• TDS deductions are subject to the existing income tax rules as at the time of opening the RD account
• A penalty in case of delay in payment of an installment of RD is Rs 1.50 for every Rs. 100, per month

Tax benefits on SBI RD

All Recurring Deposits, including SBI Recurring Deposit, are taxable under the Income Tax Act 1961. The money that is invested in the RD will be included in your yearly income and a TDS (Tax Deducted at Source) of 10% is applicable on the interest earned (if it is more than RS. 10,000 per year). To save TDS on your RD gains, you can fill either Form 15G or Form 15H.

Conditions for submitting Form 15G:

• You are an individual or HUF
• You must be a Resident Indian
• You should be less than 60 years old
• Tax calculated on your Total Income is nil
• The total interest income for the year is less than the minimum exemption limit for that year, which is Rs 2,50,000 for the financial year 2016-17

Conditions for submitting Form 15H:

• You are an individual
• You must be a Resident Indian
• You are 60 years old or will be 60 years old during the year for which you are submitting the form
• Tax calculated on your Total Income is nil

Documents Required to Open SBI RD Account

• Proof of Identity

– Passport

– PAN card

– Voter ID card

– Driving license

– Government ID card

– Photo ration card

– Senior citizen ID card

2. Address proof

– Passport

– Telephone bill

– Electricity bill

– Bank Statement with Cheque

– Certificate/ ID card issued by Post office

SBI Personal Loan Eligibility

Type of personal loan	Age	Maximum loan amount
SBI Xpress Credit Personal Loan	21 to 58 years	Rs.15 lakh
SBI Loan for Pensioners	60 to 76 years	Maximum 10 months of pension for up to Rs.14 lakh
SBI Festival Loan	21 to 58 years	Rs.50,000

Types of Home Loans Offered by SBI

 SBI Home Loan

1. Regular Home Loan:

You can use this loan to construct a house, conduct a house extension, purchase an under-construction property, a ready built property, a pre-owned home or for any other kind of repair and renovation.

Benefits: 

• Zero Pre-payment charges.
• Interest rate charged on daily reducing balance.

2. NRI Home Loan:

This Home Loan caters to Non-Resident Indians who are seeking to invest in property. It makes better sense from a financial perspective that you purchase a property through a Home Loan instead of going through personal financing.

Benefits:

• Low processing fee.
• Zero hidden charges.

3. Realty Home Loan:

It helps you purchase a plot for construction for your home. Construction should start within 5 years from the date the loan is sanctioned.

Benefits:

• Loan to build your dream home from scratch
• Avail maximum 15 Crores loan amount

 Pre-Approved Home Loan:

Your Home Loan limits are sanctioned before the property is decided upon. This helps you negotiate with the buyer or seller in private.

Benefits:

• Repayment up to 30 years.
• Interest Concession for Women Borrowers.

Balance Transfer of Home Loan:

This kind of loan offers borrowers a chance to transfer Home Loans from housing finance companies that are registered with the National Housing Bank, scheduled commercial banks and private as well as foreign banks.

Benefits:

• Home Loan Available as Overdraft.
• Low Interest Rates.

. Privilege Home Loan:

This loan is particularly designed for government employees. This takes into account PSUs, PSBs of Central Government, employees of State Government and other individuals who come with the benefit of pensionable service.

Benefits:

• Concession on interest if Check Off is provided.
• Home Loan made exclusively for government employees.

Shaurya Home Loan:

This loan caters to all army and defence personnel. It comes with added benefits and lower interest rates.

Benefits:

• Home Loan only for Defence and Army personnel at competitive rate.
• Extended loan tenure of up to 30 years.

Flexipay Home Loan:

This housing loan gratifies salaried individuals. It provides borrowers with a higher loan amount and gives you the benefit of paying only interest during the pre-EMI period. Following this, you have to pay moderated EMIs (Equated Monthly Instalments).

Benefits:

• 20% higher eligibility for loan amount.
• Pay only interest during pre-EMI/ moratorium period.

Home Top Up Loan:

This loan offers customers the benefit of borrowing a specific amount on top of their Home Loan amount. This loan is beneficial for borrowers who are in need of extra funds.

Benefits:

• Multipurpose loan.
• Interest rates much lower than that of Personal Loans.

 Smart Home Top Up Loan:

This general-purpose loan helps to fund any urgent necessities for any type of personal requirements. This includes expenditures that arise from marriage, repair/renovation of house, education, and healthcare.

Benefits:

• Quick loan processing.
• No pre-payment penalty.

Tribal Plus:

This loan is specially designed for individuals who live in tribal or hilly areas and require funds for the purchase or construction of a new flat/house.

Benefits:

• Loans offered against Third Party Guarantee.
• No need to mortgage the land.

12. CRE (Commercial Real Estate) Home Loan:

These loans work well for individuals who own two or more houses and require finances for their next home buy. You need to make a note however that the maximum number of houses/plots/flats is kept to three.

Benefits:

• Best Home Loan for investment purpose.
• Flexibility to avail up to 5 Home Loans.

Insta Home Top Up Loan:

This loan is accessible to individuals who are already existing Home Loan customers. It is a facility offered to pre-selected borrowers through the platform of internet banking.

Benefits:

• Hassle free and instant top up loan for existing Home Loan borrowers.
• Fully automated loan with no manual intervention.

Bridge Home Loan:

This loan works in tandem with individuals who wish to upgrade to bigger and better homes by selling off their present ones.

Benefits:

• Best short-term loan for home upgradation.
• Loan amount of up to 2 Crores.

Corporate Home Loan:

This loan caters to construction or acquisition of residential units that are under the name of a company. These loans are offered to promoters, directors, and employees who are part of public or private corporate entities.

Benefits:

• Low interest rate.
• No hidden cost

Home Loan to Non-Salaried-Differential Offerings:

These Home Loans are offered to non-salaried individuals for the construction, renovation or acquisition of a house.

Benefits:

• Home Loan offer that suits every customer’s need.
• Repayment tenure of up to 30 years

 Pradhan Mantri Awas Yojana:

This initiative was taken up by the Government of India and offers affordable housing to the urban poor. The government offers interest linked subsidy to the eligible on Home Loans for the construction/acquisition of houses.

Benefits:

• Subsidy on Home Loan interest of up to 2.67 Lakhs.
• Affordable housing finance for urban poor and mid-income group.

Home Loan Overdraft Facility:

SBI MaxGain is a Home Loan sanctioned as an overdraft. It comes with a limit that is the same as the approved loan amount. In this case, your home is the underlying security for the overdraft amount.

Benefits:

• Best Home Loan if you can save some extra money each month after paying the standard EMI.
• Surplus amount left in the Home Loan overdraft account can be withdrawn any time for use.

There are also other schemes available at SBI that help to make the entire process of obtaining a housing loan easy and stress-free. These loans come with standard features such as low-interest rates, flexible payment alternatives, low processing fees and no hidden charges. These exclusive packages that cater specifically to individual needs make it easy to choose a loan that is tailor-made just for you. Make sure you examine your credit score, begin saving for a down payment and get all of your financial documents in order before finding a good home loan. It helps to make the entire loan application process simpler. Based on your need and preferences, you can then pick the most appropriate SBI Home Loan for you.

SBI Home Loan Interest Rate

SBI Home Loan Interest Rate
Interest Rate	8.45% onwards
Processing Fee	0.35% of Loan Amount
Other Charges	18% GST on Processing Fee
Prepayment or Foreclosure Charges	Free

Documents Required For SBI Home Loan

Identity Proof – Passport, PAN Card, Aadhar Card, Driving Licence (Any One).

Address Proof – Passport, Aadhaar Card, Driving Licence, Ration Card, Registered Rent Agreement, Latest Gas Bill, Latest Electricity Bill, Most Recent Credit Card statement (Any One).

 Income Proof (Salaried Employee) – Salary slips for the last three months, Form 16, Statement of Bank account.

 Income Proof (Self Employed) – IT returns for the last two years, Statement of Bank account for the past one year, Proof of continuity of Business, Invoices drawn on the clients.

SBI Life Insurance

Benefits of Buying SBI Life Insurance Plans

• Financial Protection - Provides financial protection to your family.
• Claims Settlement - 23,000 branches across the country to provide claim settlement support.
• Flexibility - Flexible premium and payout options.
• Online plans - Specifically designed online plans that costs lower

Types of SBI Life Plan

SBI Life insurance offers range of life insurance products with variants to provide financial protection against life’s uncertainties.

Plans offered:

1. SBI Life Unit Linked Insurance Plans (ULIP)
2. SBI Life Protection (Term) Insurance
3. SBI Life Savings Plans
4. SBI Life Investment Plans
5. SBI Life Retirement Plans
6. SBI Life Child Plans

SBI Life Unit Linked Insurance Plans (ULIPs)

Unit Linked Insurance Plan is one of the financial products offered by SBI Life which is a combination of insurance and investment. They are the linked to the market. This way these products offer returns on investment and life insurance cover. The part of the premiums are invested in market - equity, debts, hybrid, based on the investor's choice which helps to build funds. And part of the premiums is kept to provide life cover.

Features

• The best of both the world - insurance and investment in one basket
• Part of the premiums are invested while other part is used for providing the coverage
• Each plan offers returns on maturity
• In case life assured dies during the term, the sum assured is paid to the nominee
• Option to surrender or partially withdraw ULIPs
• Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

SBI Life types of ULIPs:

SBI Life - Smart privilege

Option of regular, limited, and single premium payment policies is available. Choice of 8 different funds with no premium allocation and policy administration charges with unlimited free switches.

SBI Life - eWealth Insurance

Automatic Asset Allocationwith choice of two plans - Balanced and Growth. No premium allocation and policy administration charges. Regular payment mode option and sum assured as 10 times of annualised premiums.

SBI Life - Smart Wealth Builder

Option of regular, limited and single premium payment policies. Policy Term can be 10, 15 to 30 years. Offer the option of 7 funds. Guaranteed Additions of up to 125% of one annual premium after 10th year of policy for a policy term of 30 years under regular premium payment policy.

SBI Life - Smart Wealth Assure

Only single premium payment option with an optional Accidental Death Benefit Rider. Policy Term can be 10 to 30 years and offers option of 2 funds.

SBI Life - SaralMahaAnand

Only regular premium payment options. With an option to customize with Accidental Death Benefit Ride. Policy Term can be 10/15/20 years. Offers option of 3 funds as per the risk appetite.

SBI Life - Smart Scholar

This plan is designed keeping child's future growth. Offer an inbuilt Waiver of Premium featured rider, while an option to customise with Accidental Death Benefit and Total Permanent Disability Rider. Option of 7 funds allocation.

SBI Life - Smart Elite

Offers two protection plan - Gold and Platinum. Switch and redirect your funds.Customize with Accidental Death Benefit and Total Permanent Disability Rider. You can choose limited premium or single premium payment option.

SBI Life - Smart Power Insurance

Offers two protection plan as increasing and level sum assured. Inbuilt Accelerated Total Permanent Disability Rider. Two fund options - Trigger and Smart Funds and flexibility of two free switches.

SBI Life Protection Plan

SBI Insurance (SBI) offers different variants of Term insurance plan to provide financial protection against life’s uncertainties. SBI offers different non-participating, traditional income protection plan. With the help of a term plan you protect your family’s monthly income flow, on the event of unfortunate untimely death. Option to choose as lump sum, monthly income payout or annual increase in payout safeguards your family against the loss of the income.

SBI Life types of Protection Plans:

SBI Life - eIncome Shield

The premium paying term is of regular pay.Offer two plans - Level Term Assurance and Increasing Term Assurance. The Death Benefit can be chosen as Lump Sum Benefit and Monthly Income Benefit.

SBI Life - Smart Shield

The premium paying term can be single payment or regular premium. Offer two plans that allows as payout of sum assured as Level Term Assurance or Increasing Term Assurance @5%.

SBI eShield

The premium paying term can be regular pay. Comes with an option of inbuilt Accidental Death Benefit.Death Benefit can Level Term Assurance and Increasing Term Assurance.

SBI Life - Saral Shield

The minimum sum assured is Rs. 7.5 Lakh, and maximum is Rs.24 Lakh. Death Benefit can be Level Term Assurance, Decreasing Term Assurance (Loan Protection), Decreasing Term Assurance (Family Income Protection).

SBI Life Grameen

This is for people below economical line. The premium paying term - Single pay. With minimum premium Rs.300 and maximum Rs.2000. Sum assured - The minimum sum assured is Rs.10,000 and maximum is Rs.50,000*

Note:* Aggregate Sum Assured under this plan will be capped at Rs.50,000 for each life.

SBI Life Child’s Plan

This plan offers to save money for child’s future. This plan helps to build funds for child’s education and marriage. Have a complete peace of mind while you celebrate life with your kids with the help of Child’s plan.

Features of Child Plans

• Opportunity to build corpus for child’s future
• Different variants available
• Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

SBI Life types of Child’s Plan:

SBI Life - Smart Scholar

This plan is designed keeping child’s future growth. Offer an inbuilt Waiver of Premium featured rider, while an option to customize with Accidental Death Benefit and Total Permanent Disability Rider. Option of 7 funds allocation.

SBI Life - Smart Champ Insurance

This plan is focuses on the child’s future growth. The policyholder is assured with Accidental Death Benefit. Provides four equal annual installments after the child attains 18 years of age. This plan offers triple protection in case of an unfortunate event during the policy term wherein something happens to the life insured - immediate payment, waiver of premiums and terminal bonus (if any).

SBI Life Retirement Plan

A retirement plan is a way of systematic savings. This will help in building funds for your retirement. As increase in the expenses and inflation hinders in savings which makes difficult to continue the same lifestyle post retirement, this plan ensures you continue to maintain your lifestyle.

Features of Retirement Plans

• Life coverage plus opportunity of building funds for retirement
• Meet retirement goals
• Option to choose from different variants
• In case of death of the life assured, the annuity is paid to the spouse
• Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

SBI Life types of Retirement Plan:

SBI Life - Saral Pension

This is participating, non-linked and a traditional pension plan. Offers Guaranteed bonus for first 5 years of the policy term. This plan offers Vesting benefit with terminal bonus (if any). You can choose from regular or single payment mode. The policyholder can customized the plan with preferred term rider.

SBI Life - Retire Smart

This is linked plan and policy period can be 10, 15 to35 years. Offers guaranteed additions for the policy term of 35 years. Option of regular and limited period. Flexibility of postposing your vesting age. Get terminal additions of 1.5% of fund value.

SBI Life - Annuity Plus

A perfect traditional non-linking annuity plan. Offers wide range of annuity options. Flexibility to choose payouts from the age of 40 years. Larger annuity payouts on larger premiums. Customize with Accidental Death Benefit rider.

SBI Life Savings Plans

The savings plans by SBI Life offers life cover along with savings. With the help savings plans, the family is not only protected against the financial loss in case of the breadwinner’s passing away but also helps an individual to build funds for short and long term goals.

Features of Savings Plans

• Life coverage plus opportunity of savings
• Family financial protection
• Build funds for short and long term goals
• In case of death of the life assured, the sum assured is paid to the nominee
• Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

SBI Life offers Types of Savings Plan

SBI Life - Smart Bachat

It’s a limited premium payment term endowment plan. Offers two option as plain vanilla endowment plan and endowment plan with in-built Accidental Death and Total Permanent Disability. Premium payment period can be 5,7, 10 and 15 years and policy period can be from 10 to 25 years. As a survival benefit at the end of policy term the policyholder receives guaranteed sum assured, vested simple reversionary benefit, terminal bonus (if any).

Smart Women Advantage

As the name suggests, it is specifically designed for women. This plan offers life cover, savings and Critical Illness (CI) rider benefit with in-built premium waiver incase of any CI. Also, offers additional benefits pregnancy complication and congenital anomalies. Offers two plans - Gold and Platinum.

SBI Life - Smart Swadhan Plus

Comes with twin benefit i.e. provide life cover and 100% return of premiums. Offers single and limited premium payment (5,10, 15 years), and regular premium upto policy term. Choose life cover for a term of 10 years to 30 years. On maturity the total premiums will be paid to the policyholder.

SBI Life - Smart Humsafar

A perfect joint life insurance plan. In this plan you can cover yourself and your spouse in a single policy. A non-linked participating endowment plan. Provides financial protection in case of death of either or both the life assured. Customize with additional riders. As a survival benefit at the end of policy term the policyholder receives guaranteed sum assured, vested simple reversionary benefit, terminal bonus (if any).

SBI Life - Smart Money Planner

A non-linked with profit assurance endowment plan with guaranteed cash flow at regular intervals. A savings plan with added feature of ‘Growth period’. Option of single premium payment and limited premium payment. Offer four variants.

SBI Life - CSC SaralSanchay

A non-linked and non-participating variable insurance plan. A simple and easy savings plan with a minimum floor rate of 1% p.a. Payable throughout the policy term Offer partial withdrawal.

SBI Life - Smart Income Protect

A traditional participating plan with life cover and regular cash inflow. Offers different policy term of 7, 12, and 15 years. Premium payment same as policy term. Customize with wide range of riders. Offers different payouts options on maturity - lump sum and installments.

SBI Life - Smart Guaranteed Savings Plan

A traditional non-participating savings plan. Offer guaranteed additions at the simple rate of 5.5% or 6 % applicable to the basic premiums paid. Limited premium payment for 7 years with policy period of 15 years. Life coverage based on the premium chosen.

SBI Life - Smart Money Back Gold Plan

Tailored money back options. Allocate fixed cash flows at regular intervals. Survival Benefit of 110% of sum assured paid till maturity. Customize plan with additional wide range of riders. Offers 4 types of variants with policy term of 12, 15, 20 and 25 years.

SBI Life - SubhNivesh

It has two main option, plain vanilla endowment plan and other endowment with whole life cover. A non-linked with profit endowment assurance with whole life coverage. Provides savings, income, and life cover, Option of regular or single premium payment mode. Offer 3 riders to add on. Option to receive the basic sum assured at regular intervals of pre-decided period of 5/10/15/20 years.

SBI Life - SaralSwadhan+

A non-linked, non-participating, term assurance with returns of premium on survival. Provides a fixed life cover over the policy term. It offers guaranteed maturity benefit, provided 3 annual premiums have been made. Fixed premium term of 10 years whereas policy term can be 10 or 15 years.

SBI Life - Flexi Smart Plus

A participating, variable insurance empowering you with more flexibility. Offers guaranteed bonus, Interim bonus, regular bonus, terminal bonus. Option to choose from two protection plan - Gold and Platinum. Offers partial withdrawal, flexibility to increase/decrease sum assured, and complete flexibility to increase chosen policy term.

·         SBI Life - Accidental Death Benefit Rider In the case of an accidental death of the life insured, SBI will pay rider sum assured in addition to the basic term assured to the nominee. The minimum rider benefit is Rs.25,000 and the maximum is Rs.50 Lakh.

·         BI Life - Accidental Death Benefit Linked Rider In the case of an accidental death of the life insured, SBI will pay rider sum assured in addition to the basic term assured to the nominee. The minimum rider benefit is Rs.25,000 and the maximum is Rs.50 Lakh.

·         SBI Life - Accidental Total and Permanent Disability Rider In the case of disability to the life insured caused due to the accident, SBI will pay rider sum assured in addition to the basic term assured to the nominee. The minimum rider benefit is Rs.25,000 and the maximum is Rs.50 Lakh.

·         SBI Life - Critical Illness Non-Linked Rider It covers 13 major critical illnesses, including First Heart Attack of specified severity, Cancer, Open Chest CABG,Kidney Failure, Major Burns,Paralysis, Major Organ Transplant,etc. The minimum rider benefit is Rs.25,000 and the maximum is Rs.50 Lakh.

·         SBI Life - Preferred Term Rider It covers death of life assured. This an additional life cover to the base cover. The minimum rider benefit is Rs.25,000 and the maximum is Rs.

Claim Process of SBI Life Insurance

SBI Life is committed to provide the benefits as soon as possible to the nominee and within the prescribed timelines laid down by IRDAI.

Following is the Claim Process:

Claim Intimation:

• The nominee/claimant needs to intimate the insurance company by filing a online claim form.

Send form to SBI Life Insurance Co. Ltd, 8th Level, Seawoods Grand Central, Tower 2, Sector 40, Plot No.R-1, Seawoods, Nerul Node, Navi Mumbai- 400706.

·         Intimate SBI Life on their Toll-Free number - 1800-22-9090

·         You can also email at claims@sbilife.co.in

Claim Assessment: On receiving all the necessary documents, SBI Life will asses claim documents and the information provided by the proposal in the form.

Claim Approval process - on the approval of Claim Claim Acceptance the nominee will receive a sum assured. For further process at any time of claim process you can also reach out to info@sbilife.co.in

Claim Documents: List of Mandatory Documents:

1. Duly filled Claim Form
2. Original Policy Document
3. Original/Government officer Attested Death Certificate issued by the local authority
4. Claimant’s address proof
5. Claimant’s ID Proof
6. Claimant’s Bank Pass Book/Bank Statement/Cancelled Cheque

In addition to the standard documents there are other documents required under different case:

• Hospital / Other treatment records
• Photo Identification & address proof of the claimant
• Post-mortem & chemical viscera report (if performed)
• Physician's Statement
• Police Report/F.I.R in case of unnatural death

Review of SBI Life Insurance

SBI Life Insurance has been awarded as ‘Life Insurance Company of the Year’ and ‘Bancassurance Leader Life Insurance (Large Category)’ at the Indian Insurance Awards, 2016. SBI Life stands out with SBI Bank Group has an unparalleled strength of 23,000 branches across the country. And BNP Paribas Cardif is one of the world leaders in creditor insurance. It has been received an AA rating from Standard & Poor’s. SBI Life offers quick and hassle-free claim process so that the family stays financially protected as promised.

SBI Life Address

SBI Life Insurance Co. Ltd, 8th Level, Seawoods Grand Central, Tower 2, Sector 40, Plot No.R-1, Seawoods, Nerul Node, Navi Mumbai- 400706