Bank offers enhanced complimentary Personal Accidental Insurance (Death) cover, Air Accidental
Insurance (Death) cover, Permanent/Partial Disability cover
SBI also offers Personal Accident Insurance (Death) cover and other benefits under the Central
Armed Police Salary Package (CAPSP) to BSF pensioners
Widows and NOK are also covered with certain benefits under CAPSP
Bank offers attractive interest rates and concessional processing charges to BSF personnel on
Home, Car, and Xpress Credit Personal loans
Platinum Debit Card offered to all Assistant Commandants and ranks above
Mumbai – April 4, 2022:
Country’s largest Bank, State Bank of India (SBI) has signed a Memorandum of
Understanding (MoU) with the Border Security Force to offer special benefits to the serving and retired BSF
personnel and family pensioners through the Central Armed Police Salary Package (CAPSP) Scheme.
The MoU will ensure extensive benefits to the security forces including complimentary Personal and Air Accidental
Insurance (Death) cover, additional cover in case of on-duty death, and Permanent Total Disability / Partial
Disability cover. The MoU will support child education and the marriage of girl children of deceased BSF personnel.
The retired personnel will be eligible for complimentary Personal Accidental (Death) Insurance, irrespective of age,
whereas family pensioners will be eligible for a bouquet of benefits.
Considering the selfless services rendered by BSF personnel, Bank will offer zero-balance savings bank accounts
with a host of complimentary benefits and waiver of service charges to recognize their contribution toward
nation-building. Bank will also provide attractive interest rates and concession on processing charges for serving
personnel on Home, Car, Education, and Xpress Credit Personal loans.
On this significant occasion,
Shri Dinesh Khara, Chairman, SBI stated that
“At SBI, we endeavour to do our best to
support the undying efforts extended by the BSF personnel for the safety of our nation and citizens. We are
humbled to partner with the Border Security Force and provide solutions that aim to benefit and ensure financial
security for the BSF personnel and their families.
It is an honour and a matter of pride for us to be associated with
this force and offer a host of curated benefits through our Central Armed Police Salary Package (CAPSP), which
ensures
ease of access to banking facilities to them and their families.”
The MoU is designed and customized to best suit the requirements of serving BSF personnel, Pensioners, and their
families. It was signed in New Delhi in presence of Shri S.L. Thaosen IPS Special Director General BSF, Smt. Saloni
Narayan Deputy Managing Director (Retail Business) SBI, Shri Devendra Kumar Chief General Manager (Personal
Banking) SBI, Shri Krishna Choudhary IPS (Retd) Advisor (CAPF) SBI, Shri Ravi Gandhi IG(Adm) BSF, Shri Manoj
Kumar Yadav DIG (Finance) BSF, Shri Vikas Kumar DIG (Adm) BSF, Shri P.S. Yadav DGM (Salary Package Accounts)
SBI and other senior officials from BSF and SBI.
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