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SBI signs MoU with the BSF to provide curated benefits
April 05, 2022
The 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 staff and family pensioners through the Central Armed Police Salary Package (CAPSP) Scheme.
The MoU will ensure extensive benefits to the security forces including free Personal and Air Accidental Insurance (Death) cover, additional cover in the event of death on duty, and Permanent Total Disability/Partial Disability cover.
The MoU will support child education and the marriage of girl children of deceased BSF staff. The resigned faculty will be qualified for free Personal Accidental (Death) Insurance, irrespective of age, while pensioners will be eligible for a bouquet of benefits.
Considering the selfless services rendered by BSF staff, Bank will offer zero-balance savings bank accounts with a large group of complimentary benefits and waiver of service charges to recognize their contribution toward nation-building.
Bank will provide attractive interest rates on processing charges for serving work personnel on Home, Car, Education, and Xpress Credit Personal loans.
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