GovPride Salary Savings Account Scheme

Salary Variants

Silver

Gold

Platinum

Diamond

Gross Salary Range

(excluding one-time benefits)

>=
Rs. 30,000
Up to
Rs. 60,000

>
Rs. 60,000
to Rs. 1.00
lakhs

> Rs. 1.00
Lakhs
to Rs. 1.50
Lakhs

> Rs. 1.50
Lakhs

Eligibility

Who can Open the account?

Regular Permanent Employees having Gross Monthly Salary above Rs. 30,000/- belongs to:

  1. Central Government
  2. State Government
  3. PSUs
  4. Government Universities / Government College / Government Institutions

Regular Permanent Employee Age: 18+ year till Superannuation (upto 58/60/62/65 years) as per prevailing policy / guidelines of respective employer. (Department where superannuation age is above 60+ year, prior approval from insurance company before MOU to be obtained by referring case to HO Resource Planning Dept)

This product is offered exclusively to employees of organizations with whom MOU has been executed by Zonal Office(s) of the Bank.

Following departments are not eligible at initial phase:

1. Defense/Security/Police Department. 

Account Maintenance Feature

Initial Deposit and Minimum Average Quarterly Balance

NIL for all Salary variants

Charges for Non-Maintenance of Minimum AQB

NIL for all Salary variants

*Insurance Coverage Feature

(Coverage Amount In Rs. Lakhs)

(*T&C applicable of Insurance Company)

Salary Variants

Silver

Gold

Platinum

Diamond

Gross Salary Range

>= Rs. 30,000/-
Up to Rs. 60,000/-

> Rs. 60,000
to Rs. 1.00 lakhs

> Rs. 1.00 Lakhs
to Rs. 1.50 Lakhs

> Rs. 1.50 Lakhs

Features

ZERO Premium Insurance Coverage till Superannuation

Personal Accidental

40

80

100

125

Total Disability

40

80

100

125

Partial Disability coverage upto

(compensation as per % disablement)

20

40

50

62

Air Accidental

100

100

100

100

Term Insurance

0

0

10

10

Three Add-on Covers with Personal Accidental Insurance (PAI)

(applicable in case of PAI claims on accidental death are found payable)

1.Daughter’s Marriage Benefit

Daughter’s Marriage Support (18-25 Years) up to Rs. 10 Lakhs.

(to be claim with PAI claim for Daughter having age 18-25 years)

2. Child Higher (Full Time Post Graduation) Education Benefit

Higher (Post Graduation) Education Fee Cover up to Rs. 10 Lakhs.
(to be claim with PAI claim for One Son / Daughter perusing Full Time Post Graduation at the time of event)

3. Other benefits*

(T&C applicable of Insurance Company)

  1. Golden Hour- Cashless treatment: After the incident of accident, cover up to Rs. 1 lakh
  2. Baggage Loss in case of domestic /international air / sea travel up to Rs. 1 Lakh.
  3. Hospicash facility (in case of accident):

Rs. 500/- per day in case of normal admission

Rs. 1000/- per day above 24 Hrs, for maximum upto 15 days admitted in ICU, ICCU, Trauma Centre.

Super Top-Up Health Insurance

With existing Insurance partners to be purchased voluntarily (Cost to be borne by the Salary Account Holder).

The insurance partner will provide scheme directly to the employer / individuals. Zonal office role is of facilitator for introductory meetings.

For any Grievance / Dispute, a Salary account holder shall communicate with Insurance company directly. Our Bank will not be liable for it.

Other Features

(Charges are subject to revision)

Salary Variants

Silver

Gold

Platinum

Diamond

Gross Salary Range

>= Rs. 30,000/-
Up to Rs. 60,000/-

> Rs. 60,000
to Rs. 1.00 lakhs

> Rs. 1.00 Lakhs
to Rs. 1.50 Lakhs

> Rs. 1.50 Lakhs

ATM card

(free first issuance)

RuPay Platinum

RuPay Select

RuPay Select

RuPay Select

*Complimentary Insurance Cover as per ATM card variant as per prevailing NPCI guidelines

Rs. 2 lakhs RuPay Platinum

Rs. 2 lakhs RuPay Platinum

{*The RuPay Insurance Program is in line with NPCI guidelines for Personal Accident Insurance and Permanent Total Disability}

Concessions in Annual Locker Rent

(Security deposit (FD) waiver will be available as per prevailing guidelines)

No concession

25% concession on First Year rent on A / B type of available locker

NEFT/ RTGS / IMPS

Free fund transfer facility through Digital banking channels

SMS Alert

As per prevailing Services Charges

Free Cheque Book

40 Leaves Free per year

Add on card

as per prevailing Services Charges

(To primary account holder only)

ATM AMC

as per prevailing Services Charges

ATM – On Us

as per prevailing Services Charges

ATM – Off Us

as per prevailing Services Charges

POS Limit

POS Daily Limit upto Rs. 5 Lakhs (on request)

Airport Lounge access

As per prevailing NPCI guidelines with respect to ATM Card variant

Demand draft

as per prevailing Services Charges

Standing instructions

as per prevailing Services Charges

Demat Account

as per prevailing Services Charges

Credit Card

(on availability as per prevailing policy)

as per prevailing Services Charges

Other banking Service charges

(if any, not mentioned above)

as per prevailing Services Charges

Auto sweep facility

Not Available

Retail Loans

Fee Waiver Feature

(available after first salary credit)

(Retail Loan Sanction as per prevailing Loan Policy of the Bank)

Housing Loan

  • Processing Fees - 100%
  • Account Handling Charges - 50%

Car Loan

  • Processing Fees - 100%
  • Account Handling Charges - 50%

Personal Loan

  • Processing Fees - 100%
  • Account Handling Charges - 50%

Overdraft facility

  • Processing Fees - 100%
  • Account Handling Charges - 100%

Salary Variants

Silver

Gold

Platinum

Diamond

Gross Salary Range

>= Rs. 30,000/- Up to Rs. 60,000/-

> Rs. 60,000 to Rs. 1.00 lakhs

> Rs. 1.00 Lakhs to Rs. 1.50 Lakhs

> Rs. 1.50 Lakhs

Family Feature

Family savings account

Not Available

"EK Parivar Savings Account" –

Available for three Family members of 'Gold and Above Variants' Salary Account holders

Benefits to 3 members as follows:
1. Type of Account: Regular Saving Bank Account
2. Minimum Balance & QAB: NIL
3. Debit Card: Free Rupay Platinum Debit Card (First Issuance of debit card)
4. First Chequebook of 20 leaves: Free

Important Terms & Conditions of GovPride Salary Saving Account Scheme

  1. This product is offered exclusively to employees of organizations with whom an MOU has been executed by Zonal offices of the Bank.
  2. For more details as well as other terms & conditions, please contact Zonal Office of the Bank.

Frequently Asked Questions on GovPride Salary Savings Account

1. What is the GovPride Salary Savings Account Product?

It is a special Salary account product for permanent employees of Government departments, PSUs, Government Colleges / Universities/ Institutions, with Gross salary equals and above ₹30,000 per month.

2.  Who is eligible to open this account?

This product is offered exclusively to employees of organizations with whom an MOU has been executed by Zonal office (For Full KYC compliant Customer)

Regular permanent employees (age:18 to 58/60/62/65 (till superannuation) of department:
- Central / State Government departments
- PSUs
- Government Universities & Colleges
- Government Institutions

      Following departments are not eligible at initial phase:

  Défense/Security/Police Department.

3. What are the different salary variants and their Gross Salary income ranges?

a. Silver: >= ₹30,000 – ₹60,000

b. Gold: > ₹60,001 – ₹1,00,000

c. Platinum: > ₹1,00,001 – ₹1,50,000

d. Diamond: > ₹1,50,000

4. What documents are required to open a new account or to convert existing account to new scheme account?

Standard KYC documents, Appointment Letter (new employees), Salary Slip (existing) and Declaration & Consent Form from new & existing customer (Annexure I), ID Card.

This product is offered exclusively to employees of organizations with whom an MOU has been executed by Zonal office

5. Is there any minimum balance requirement?

No. Initial deposit and minimum AQB (Average Quarterly Balance) are NIL.

6. What happens if salary is not credited for 3 consecutive months?

The account will be converted to a general savings account and all GovPride benefits will be withdrawn. Charges of general SB account will apply.

7. What happens if salary is increased? / Is upgradation from one variant to another variant possible?

The present variant account will be eligible for upgradation in suitable variant after submission of application and latest Salary Slip by the account holder. {Confirmation may be sought from employer in case-to-case basis}

8. What insurance benefits are offered?

Zero-Premium Insurance (post MOU & salary credit):
- Personal Accident: 40L to 1.25 Cr
- Total Disability: 40L to 1.25 Cr
- Partial Disability upto: 20L to 62L
- Air Accident: 1 Cr for all
- Term Insurance: 10L (Platinum & Diamond variant only)

 - Debit Card Insurance as per NPCI guidelines.

9. What add-on benefits come with the insurance?

- Daughter Marriage: upto ₹10L
- Child Education: upto ₹10L
- Golden Hour Treatment: upto ₹1L
- Baggage Loss (travel): upto ₹1L
- Hospicash:  ₹500-1000/day (up to 15 days)

10. Is health insurance available?

Super Top-Up Health Insurance is available at customer’s cost (optional) from our empaneled Insurance partners.

11. Whether Insurance facility like Group Term Insurance, Group Personal Accidental with add-on benefits are available under “EK Parivar Savings Account” benefit?

- No. It is only for Primary Salary Account Holder.

12. How is the salary account activated with insurance benefits?

Insurance starts from the 1st day of the month after salary is credited post-MOU signing.

13. Can Salary Account Holder Continue to enjoy the Salary Account Benefits if he / she changes the Job?

      No. Benefits will be discontinued.

14. In Personal Accident Insurance (PAI) Claim, when is the claim applicable?

- If the salary account holder meets with an accident during the policy period, and
-  Passes away or suffers disability within 12 months of the accident

  Important Conditions:

  The account must be:
  - Categorized under the correct salary account variant in the bank's system based on a

written request from the customer and must have regular salary credits.

  - Claims must be reported within 90 days of the incident.
  - All supporting documents must be submitted within 90 days of the incident.

15. In Life Insurance Claim, when is the claim applicable?

  • If the salary account holder dies during the active policy period.

  Important Conditions:

  The account must be:
  - Categorized under the correct salary account variant in the bank's system based on a

written request from the customer and must have regular salary credits.

- Claims must be reported within 90 days of the incident.
  - All supporting documents must be submitted within 90 days of the incident.