The SBI SGSP account (State Government Salary Package) is a specialized salary account designed for state government employees, including teachers, in Andhra Pradesh and Telangana. As per the 2025 Andhra Pradesh government circular (Circular Memo No. 2745769, dated 03.07.2025), the State Bank of India (SBI) has partnered with the Andhra Pradesh government to offer tailored financial services through the SGSP. This account provides a range of benefits, from zero-balance accounts to attractive loan rates, making it an excellent choice for employees and teachers seeking financial flexibility.
With four variants—Silver, Gold, Diamond, and Platinum—the SBI SGSP account caters to employees based on their net monthly salary and designation. Whether you’re a teacher, a gazetted officer, or a high-ranking official, this account offers unique privileges like complimentary insurance, overdraft facilities, and seamless banking services. In this blog post, we’ll explore the key benefits of the SBI SGSP Salary account, eligibility criteria, and how it empowers Andhra Pradesh and Telangana employees in 2025.
What is the SBI SGSP Account?
The SBI SGSP account is a customized salary account for permanent employees of state governments, Union Territories, and their boards or corporations, including teachers and professors of aided schools, colleges, and universities. As outlined in the Memorandum of Understanding (MoU) dated 20.03.2025 between the Andhra Pradesh government and SBI, this package is designed to meet the financial needs of state employees. The account comes in four variants based on net monthly salary:
| Variant | CBS Product Code | Eligibility (Net Monthly Salary) |
|---|---|---|
| Rhodium | 10291581 | ₹2 lakh and above |
| Platinum | 10291461 | ₹1 lakh to ₹2 lakh |
| Diamond | 10291451 | ₹50,000 to ₹1 lakh |
| Gold | 10291441 | ₹25,000 to ₹50,000 |
| Silver | 10291431 | ₹10,000 to ₹25,000 |
These variants ensure that employees at different income levels and designations, such as teachers, gazetted officers, or senior officials like Commissioners, receive tailored benefits.
Key Benefits of SBI SGSP Account for Employees
The SBI SGSP Salary account offers a plethora of benefits that enhance financial management for Andhra Pradesh and Telangana employees. Here are the key advantages:
Zero Balance Account
No minimum balance is required, making it hassle-free for employees to maintain their accounts without worrying about penalties.
Complimentary Insurance Coverage
One of the standout features of the SBI SGSP account is its complimentary insurance coverage, which varies by account variant:
- Silver: ₹1 lakh Personal Accident Insurance (PAI) and ₹5 lakh Air Accident Insurance (AAI)
- Gold: ₹5 lakh PAI and ₹5 lakh AAI
- Diamond: ₹15 lakh PAI and ₹20 lakh AAI
- Platinum: ₹20 lakh PAI and ₹30 lakh AAI
These covers provide financial security in case of unforeseen events, making the SBI SGSP Salary Employees account highly valuable for employees.
SBI Rishtey – Family Accounts Benefit
Gold and above variant holders can open SBI Rishtey accounts for up to 4 family members with exceptional benefits:
- Zero minimum balance requirement
- Free Classic Debit Card with no annual maintenance charges
- Unlimited free ATM transactions across all banks
- 10% concession on locker rentals annually
- ₹5 lakh personal accident insurance for each account holder (except minors)
Pro Tip: The SBI SGSP account’s Auto Sweep Facility automatically converts surplus funds above ₹35,000 into fixed deposits, helping you earn higher interest while maintaining liquidity.
Lifestyle Benefits with RuPay Debit Cards
Each SBI SGSP account comes with a premium RuPay debit card offering exclusive lifestyle benefits:
| Benefit | Platinum & Rhodium | Diamond | Gold |
|---|---|---|---|
| MakeMyTrip Discount | 10% up to ₹1500 (quarterly) | 10% up to ₹1500 (quarterly) | 10% up to ₹1500 (yearly) |
| Amazon Prime | Full Year Subscription | Full Year Subscription | Full Year Subscription |
| Airport Lounge Access | 3 visits/quarter | 2 visits/quarter | 1 visit/quarter |
| Swiggy One | 3-month membership/year | 3-month membership/year | 3-month membership/year |
| BookMyShow | ₹250 off on 2+ tickets (quarterly) | ₹250 off on 2+ tickets (quarterly) | ₹250 off on 2+ tickets (quarterly) |
Special Add-On Insurance Covers
The SBI SGSP account includes several unique insurance benefits that provide comprehensive protection:
- Plastic Surgery in Burn Cases: Up to ₹10 lakh coverage
- Transportation of Imported Medicine: Up to ₹5 lakh
- Death in Coma (after the accident): ₹5 lakh
- Air Ambulance: Up to ₹10 lakh
- Child Education Cover: Up to ₹8 lakh (₹10 lakh for girl child)
- Girl Child Marriage Cover: Up to ₹10 lakh for two girls
Preferential Loan Rates
SBI SGSP account holders enjoy a 50% discount on loan processing fees for personal, home, car, and education loans. Additionally, preferential interest rates are offered, making borrowing more affordable.
Overdraft Facility
Select Diamond and Platinum account holders can access an overdraft facility equivalent to two months’ net salary, which can be converted into a personal loan at favorable rates.
Free ATM Transactions
Unlimited free ATM transactions are available across all banks’ ATMs, ensuring easy access to funds without additional charges.
Auto-Sweep Facility
The auto-sweep facility allows balances above Rs 35,000 to be transferred into multi-option fixed deposits, earning higher interest rates (up to 4% per annum).
Free Banking Services
Account holders benefit from free drafts, multi-city cheques, SMS alerts, and online NEFT/RTGS transactions. Internet banking services are also provided at no cost.
Debit Card Benefits
Depending on the variant, employees receive free debit cards with no annual maintenance charges:
- Silver: Domestic Classic Debit Card (Rs 20,000 daily withdrawal limit)
- Gold/Diamond: International Gold Debit Card (Rs 50,000 daily withdrawal limit)
- Platinum: International Platinum Debit Card (Rs 1,00,000 daily withdrawal limit)
These cards also offer loyalty points through the SBI Rewardz program.
Benefits for Employers
The SBI SGSP account isn’t just beneficial for employees; it also streamlines salary management for employers. Through SBI’s Corporate Internet Banking, organizations can manage salaries across multiple centers with zero disbursement charges, reduced paperwork, and lower administrative costs. Employers can also request bank officials to visit their premises for hassle-free account opening.
How to Open or Convert to an SBI SGSP Account
Opening an SBI SGSP account is straightforward. Employees can apply online via the SBI YONO app or visit a branch. To convert an existing savings account to an SGSP account, submit a request letter through your Drawing and Disbursing Officer (DDO) with proof of employment, such as a salary slip or service certificate. The process is seamless, ensuring quick access to SGSP benefits.
For detailed guidelines, refer to the official SBI website (sbi.co.in) or contact your nearest branch.
Why Choose the SBI SGSP Account in 2025?
For Andhra Pradesh and Telangana employees, including teachers, the SBI SGSP account is a game-changer. Its zero-balance feature, complimentary insurance, and loan benefits make it a powerful financial tool. The account’s flexibility across Silver, Gold, Diamond, and Platinum variants ensures that employees at all levels can enjoy tailored privileges. Additionally, the partnership with the Andhra Pradesh government, as per the 2025 MoU, underscores SBI’s commitment to supporting state employees.
Download the PDF file: Benefits of SBI SGSP Account for AP & TS Employees
Frequently Asked Questions (FAQs)
1. Who is eligible for an SBI SGSP account?
Permanent employees of Andhra Pradesh and Telangana state governments, including teachers and professors of aided schools, colleges, and universities, are eligible. The account variant depends on the net monthly salary.
2. Can I convert my existing SBI savings account to an SGSP account?
Yes, you can convert your savings account to an SGSP account by submitting a request letter through your DDO with proof of employment, such as a salary slip or service certificate.
3. What insurance coverage does the SBI SGSP account offer?
Insurance coverage varies by variant: Silver offers ₹1 lakh PAI and ₹5 lakh AAI, Gold offers Rs 5 lakh for both, Diamond offers ₹15 lakh PAI and ₹20 lakh AAI, and Platinum offers Rs 20 lakh PAI and ₹30 lakh AAI.
