With reference to Circular No.: NBG/PB/CITU-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 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  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
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



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.


  •  I agree to abide by the terms and conditions for availing Overdraft facility under Salary Package Accounts
  • The tenor of the overdraft shall be maximum 6 months.
  • The interest on the amount of overdraft will be charged at 5.95% above the 6 months Marginal Cost of Fund based Lending Rate (MCLR), on daily reducing balance at monthly rests. The rate of interest at the time of sanction will be fixed for the entire tenor of the loan.
  • In the event of default in payment of any installment or any irregularity in the overdraft,penal interest at the rate of 2% p.a. over and above the stipulated interest rate with monthly rests will be charged for the irregular amount and the overdue period.
  • The overdraft facility will operate on reducing drawing power basis, at monthly intervals, to the extent of the installment commensurate with the tenor of the loan commencing from the month following the date of sanction of the facility. · Interest when applied will be serviced every month.
  • The liability to the Bank will be extinguished only when the outstanding in the Overdraft becomes Nil on payment of all installment together with interest at the rate applicable.
  • I undertake that as a precondition to the overdraft advance granted to me by the Bank, I shall not withdraw/revoke the authority/instruction to my employer to credit my salary to the savings account with you, till liquidation of the overdraft with up-to-date interest.
  • I undertake to pay the monthly installment with interest on or before the due date, in case, my salary is not credited to the above account for any reason whatsoever.
    · I shall obtain a No Objection Certificate letter from SBI in case I desire to change to any other Bank for credit of salary.
  • I shall inform the Bank in event of my resignation, transfer, retirement, discontinuation of service.
  • I undertake to execute necessary authorization/ documents, if any, as deemed just and necessary by the Bank in accordance with the scheme.
  • In the event of delay/ default in credit of monthly salary to the savings account, resulting in irregularity in the account, at any point of time, the Bank may send reminders and the entire incidental charges appurtenant thereto would be recovered from me/us.
  •  I further agree that the Bank is at liberty to disclose/share my Credit information to/with Information Company formed under the Credit Information Company (Regulation) Act, 2005, as to the loans granted to me and any other manner which the RBI may consider necessary for inclusion in the Credit Information to be collected and maintained by Credit Information Companies and the Bank is not liable in any manner to me/us for providing the information as aforesaid to the Information Company.

Download the SBI OD Facility for Employees Manual Application Form

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