As we told in the previous post, what are the benefits of serving soldier of Armed Forces in DSP account. The account in which the pension of Retired Defense Person is credited also comes under the category of DSP. If at the time of retirement you have opened a separate account for pension, then it must be ensured that your account DSP account is opened. Till now there was a lot of difference between the features of serving DSP account and pensioner DSP account. But on 15th December 2021, the MoU was signed between the Indian Army and SBI Bank. In this, a lot of benefits have also been given to the pensioner and Shaurya family pensioner. In this post we will talk about the facility available to the pensioner of SBI DSP account.

SBI Bank has also kept the pensioner Defense Salary Package (DSP) account holders in three groups which are as follows :-

• Gold - It includes JCOs/Other Ranks.
• Diamond - It consists of Lieutenant, Captain & Major.
• Platinum - It ranges from Lt Col to General.

Features and Benefits of Gold DSP Account:-

• In DSP account, we are not required to keep a minimum amount in our account, which we call zero balance account.
• Free International Gold Debit Card*
• There is no annual maintenance charge.
• 1 extra card free for spouses of joint account holders.
• You can withdraw money any number of times from any bank's ATM without any charge.
• 25 cheques are available free of cost per month
• Cheque book demand can be given in any branch of SBI.
• 10% discount on annual locker rent.
• Free RTGS/NEFT
• Countless free demand drafts across all branches of SBI.
• 100% processing fee waiver of home loan.
• Car loan's 100% processing fee waiver and 5% relaxation in margin. Now what is this relaxation in margin? Don't worry, we will explain you with a straight example. Let's say you are taking a car worth 10 lakhs. If you go to the bank to take a loan of ? 10,000,00, then the bank will tell you that we will finance you up to eight lakhs or 8:30 lakhs. You will have to pay the remaining 1.5 lakh rupees yourself. The bank will not give you the entire ?10,000,00. So what has happened to this one and a half lakh rupees is your margin money. In other words, the defense person will get more loan amount than the civilian.
• Pension Loan Key Processing Fee 100% Waiver.

Complementary Insurance Cover (For Serving Personal) :-

• Personal Accident Insurance (in case of death) - Rs 30 lakh.

Additional cover if death occurs in accident:-

1. Plastic surgery (burn case) - If a person gets burnt due to fire and has to undergo plastic surgery, then there is a provision of Rs 10 lakh (maximum) for him.
2. For Transportation of Imported Medicine - If any medicine or injection is not available in your country. There is a provision of (maximum) Rs 5 lakh for the cost of transportation of that medicine or injection from another country.
3. Comma due to accident - If a person falls into a coma due to an accident. If death occurs after staying in coma for 48 hours, then there is a provision of (maximum) Rs 2 lakh.
4. For Air Ambulance - If a person meets with an accident and for any surgery or any other reason, he has to be transferred to another city by air ambulance as soon as possible, then there is a provision of (maximum) Rs 10 lakh.
5. Higher Education Cover- It is available for a child if the age of the child is between 18-25 years on the day of death, then there is a provision of (maximum) Rs 5 lakh.
6. Cover for marriage of a girl - If the girl's age is between 18-25 years on the day of death, then there is a provision of Rs 5 lakh (maximum) for the girl's marriage.
7. Family Transportation - If a person's accident happens in another city away from his family, then there is a provision of Rs 20000 for the expenses of 2 members of his family to travel to the city where the accident happened.
8. Repatriation of Mortal Remnance - If someone dies in another country or city, then there is a provision of Rs 20000 (maximum) to bring his body.
9. Ambulance Charge - If someone has to transfer to another city for treatment and the doctor gives in writing that ambulance is necessary for the patient, then there is a provision of Rs 15000 (maximum) for that.

Benefits of Shaurya Family Pensioner :-

1. Under Shaurya Family Pensioner Account, we are not required to keep a minimum amount in our account, which we call zero balance account.
2. Free International Gold Debit Card*
3. There is no annual maintenance charge.
4. You can withdraw money any number of times from any bank's ATM without any charge.
5. 25 checks are available free of cost per month
6. Check book demand can be given in any branch of SBI.
7. 10% discount on annual locker rent.
8. Free RTGS/NEFT.
9. Countless free demand drafts across all branches of SBI.
10. 100% processing fee waiver of pension loan.