SBI OverDraft for Employees with Salary Account SGSP 2022 SBI SGSP OD Facility Latest Guidelines

SBI Over Draft for Employees with Salary Account SGSP 2022 SBI SGSP Overdraft Latest Guidelines CORPORATE & INSTITUTIONAL TIE UPS OVERDRAFT IN SALARY PACKAGE ACCOUNTS. SBI Offers Overdraft facility for Employees having State Govt Salary Account SGSP for Employees of State Govt of Central Govt. Here are the latest guidelines for availing the Overdraft facility in SBI through SGSP. How to apply for SBI Salary Package Over Draft Facility Latest Guidelines Rules 2022. SBI Overdraft application Download PDF. SBI Salary OD Facility Details application. 

SBI Over Draft for Employees with Salary Account SGSP 2022 SBI SGSP Overdraft Latest Guidelines


With reference to Circular No.: NBG/PB/C^ITU-SP/2/2020 - 21 Date: Sat 30 May 2020 of SBI here are the latest Guidelines and Rules for availing Overdraft facility for SBI State Govt Salary Package for Employees. For availing Overdraft facility in SBI through SGSP Package for employees, employees must have SBI Salary Account. If not, they avail the SGSP Package through their bank.

At present, we offer OD facility of up to 2 times of Net Monthly Salary with maximum limit from Rs. 40,000 to Rs. 2 lakh, depending upon Salary Package Account variant (Silver, Gold, Diamond and Platinum) and to be repaid in 6 months. The facility is available to all Salary Package customers at Branch channel upto the full limit of their eligibility and to pre-selected Diamond and Platinum variant customers on Internet Banking upto 50% of eligible limits.

With the objective of boosting business, improving the asset quality, enhancing reach to the product and convenience to the customers, the competent authority has approved undernoted modifications in overdraft facility in Salary Package Accounts: -
  • I. The OD facility will also be available to pre-selected Gold Variant Salary Package Account customers on digital Channels i.e. source www.apteachers.in YONO and Internet Banking. It will enhance reach and convenience.
  • II. The OD facility will not be available to Silver Variant Salary Package Account through any channel.
  • III. OD Facility will be extended through YONO application, in addition to Branch and Internet Banking. Necessary development for rolling out the facility on YONO application is underway.
  • IV. Interest rate has been reduced and kept at 595 bps above 6 months MCLR, fixed interest rate without reset.
  • V. Additional risk mitigants has been introduced e.g. CIC score 650 and above, mandatory PAN/ Aadhaar at CIF level, mandatory employer code linkage in CSP category, standard loan accounts at CIF level.
  • VI. Pre-selection criteria will also apply for Branch channel, as applicable to Internet Banking and YONO.
4. Branches are advised to follow undernoted pre-selection criteria while sanctioning overdraft facility to Salary Package customers:-
  • a) Account should be opened with a Salary Package (SP) product code. (For e.g. CGSP, CSP, DSP, ICGSP, PMSP, PSP, RSP, SGSP) The product code of CSP Lite and Contractual Employees will not be eligible for the OD facility.
  • b) Account should be KYC compliant.
  • c) There should not be any existing Overdraft account.
  • d) None of the existing loan accounts under the CIF should be SMA 1 or worse category at the time of OD Sanction.
  • e) None of the loan account under same CIF had been NPA in last 12 months. 
  • f) PAN/ Aadhaar to be mandatory at CIF level
  • g) Employer code is to be mandatorily linked with CIF in case of Corporate Salary Package accounts.
  • h) CIC check with minimum credit score 650 (CIBIL, Version-2)
  • i) At least one credit in each month should be greater or equal to the min. threshold as per his salary package eligibility (Gold- Rs25,000, Diamond- Rs.50,000 and Platinum Rs.1,00,000) for last 6 months. Credit transactions like SB/ STDR/ TDR/ RD interest, TDR/ STDR/ RD maturity proceeds, cash deposit will be ignored.

SBI Overdraft Facility Details - Eligibility - SGSP Features

Latest Features for SBI Overdraft Facility under Salary Package for Employees
Eligibility: -
Branch channel: - Regular salary credits in the Salary Package account for past 6 consecutive months (residual service should not be less than 6 month)
Internet Banking Channel: - Age of the customer should not be more than 54 years.
Security: - Nil
Type of loan: - Overdraft in existing Salary Package Savings Accounts
Eligible variants:

Branch Channel: - Gold, Diamond and Platinum
Internet Banking Channel & YONO- Gold, Diamond and Platinum

Rationale for revision:
To exclude silver variant of the Salary Package customer to maintain healthy portfolio.
To include additional channel through YONO and Gold variant customers www.apteachers.in for overdraft will increase reach, convenience and business growth in this portfolio.
Quantum of loan: - 2 times Net Monthly Income with Maximum Limit
Variant :: Branch, Internet Banking & YONO (Max Limit) Rs.
  • Silver : NIL
  • Gold : 75,000
  • Diamond : 1,50,000
  • Platinum : 2,00,000
Salary and SGSP Package Details:
  • SILVER: BETWEEN`10,000/- AND UP TO `25,000/-
  • GOLD: ABOVE` 25,000 AND UP TO `50,000/-
  • DIAMOND: ABOVE `50,000 AND UP TO `1,00,000/-
  • PLATINUM: ABOVE `1,00,000/-
Repayment method: - Monthly by auto reduction in DP
Maximum Repayment period: 6 months
Interest Rate: 5.95% above 6 months MCLR, fixed interest rate without reset
(Around 12%  - Last 6 Months MCLR  as on 15.01.2022 is 6.95% )
Processing Charges:  Nil
Documents: 
Branch channel:   Application form in prescribed format. 
INB/YONO:  Digital format, no manual intervention
CIC Check:   CIC check with minimum Credit score of 650 (CIBIL score, version 2)
Risk Scoring:  Not Stipulated
NPA tracking:  As per existing IRAC norms

OFFLINE APPLICATION for SBI OVERDRAFT FACILITY FOR EMPLOYEES
Documents required for OD for offline application
  • Passport Size Photo
  • 3 Months Pay Slips
  • Aadhar Xerox
  • Pan Card
  • Revenue Stamp
Download the SBI OD Facility for Employees Manual Application Form

How to APPLY for OD Facility ONLINE

OD FOR CSP AC (ONLINE MODE) Through INB Facility Only
  • (Category – Gold- Rs.75000/-, Diamond – Rs.150000/-, Platinum – Rs. 200000/-)
  • On Login to INB Post Login Page, a message will be displayed
  • OR
  • On Login to INB Go to
  • - Requests & Enquiries
  • Select - OD for CSP A/C
  • Click - Apply
  • Application along with Terms & Conditions is displayed.
  • Enter - Net Salary
  • Amount of overdraft Required
  • Tenor of repayment
  • Accept - Terms & Conditions and submit Application
  • The Eligibility Overdraft amount is displayed on the Screen
  • Once the Customer confirms, an OTP is sent to Registered
  • Mobile Number.
  • Validation - On Validation, Limit is created and D.P. is allowed immediately Without branch intervention.
All the Branch Heads are requested to post the above SOP in all State Govt. Salary Package A/Cs Viz,
Teachers (Union Groups, Schools Groups) Govt. Employees, APSPDCL etc.,