Banks have provided special benefit for Defene Salary package account holder as an honour to the soldiers of the nation. DSP Account has two differrent categories i.e Salaried and Pensioners . Generally the account is opened while in service for the most of the veterans but after retirement the code of the account which is vital and remain the same.
It creates a problem while claim for PA (Personal accident) submitted to the Bank. SBI has clearly stated that, pensioners with valid prouduct code will only be allowed the benefit of insurance. To keep the assured benefit for our NOK, while we will be no more in this world, we must approach th bank to convert DSP Salary to DSP Pension.
OROP 3 Table Pdf by DESW or PCDA(P) ?
According to the SBI Bank’s correspondence. the new product code for SBI DSP (Pension) account is 10921441 . SBI has also offered severl benefit for DSP account holders. A Cicular in this regard circulated by SBI is reproduced here –