Various DSP Accounts and its benefits, Benefits of a DSP account

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DEFENCE SALARY PACKAGE (DSP) IN VARIOUS  BANKS OTHER THAN SBI

 पेंशन भोगियों को DSP PENSION ACCOUNT मे मिलते है गज़ब के फायदे 

We all know that there a scheme DSP (Defence Salary Package) and our existing pension account is converted in to DSP accounts.

 

What are the benefits of a DSP account?

There are many benefits in the scheme like accident coverage. Some important benefits of SBI DSP Account to pensioners are listed below:-

 

·        Zero balance account and free unlimited number of transactions across ATMs of any Bank in India.

·        Complimentary Personal Accidental Insurance (Death) cover of Rs. 30 Lakhs to all ranks

·        100% waiver of processing fee on Car Loans.

·        Up to 25% off on annual locker rent.

·        Auto-Sweep facility (optional) to create e-MODs (Multi Option Deposits) and earn higher interest.

·        Demat & Online Trading A/c facility available.

·        Free issuance of Drafts, Multi City Cheques, SMS Alerts. NEFT/RTGS.

 

Now the same scheme is introduced in other banks also.  Most of our veterans are not aware about other bank DSP Accounts.

 

Which bank offers the best DSP account?

We are giving the name of DSP Accounts in other Banks  for your information and knowledge.

 DSP ACCOUNTS FOR PENSIONERS 

Axis bank:     ULTIMA DEFENCE SALARY ACCOUNT   (Pension Salute)

 

Bank of India  :  JAI JAWAN SALARY PLUS

 

 Bank of Baroda:   SALARY AND PENSION SALUTION

  

Canara Bank:   JEEVAN DHARA

  

Central Bank of India:   CENT PARAM

  

Indian Bank:  IB SALAM SPECIAL A/C FOR DEFENCE

  

Punjab National Bank-(PNB) : RAKSHAK PLUS SCHEME      

   

Please visit the website of individual bank and checkup for this information.

  

Dear veterans, please visit your Bank and arrange to convert the existing pension account to DSP Accounts to avail the benefits when contingency arises. 

 

What documents are required for DSP account in SBI?

Documentation required for DSP account are-

Proof of address: Aadhar card, PAN card, electricity bill, etc.

Proof of identification: PAN card, Passport, etc.

Proof of signature: Aadhar card, PAN card, etc.

Proof of Employment: Last three months' salary slips, ITR.

 

How to convert normal account to DSP?

How to convert savings account to DSP account?

By mentioning your salary account number in the serving certificate, it will be easy to convert your salary account to DSP account. Take the serving certificate to the branch of the bank where you have your account. After that writean application on plain paper to branch manager to convert savings account or salary account to DSP account.

Important Information to Pensioners regarding DSP Account

Note 1: Benefits under Pension Account are subject to classification of Savings Bank Account to respective Pension Account and Variant in banks system. All Customers Drawing Pension through SBI Accounts are required to apply along with proof of Pension and PPO to their home branch for conversion of savings account to respective Pension Account/Variant (Conversion Forms). Account holders are required to verify classification of their accounts under respective package/variant from the name of package / variant printed on first page of their bank passbook / statement.

Note 2: In case, monthly pension is not credited into the account for more than 3 consecutive months, the account will be converted to normal savings account and all the features offered under Pension Package will stand withdrawn. All the Charges shall be levied as applicable to normal Savings Bank Account.