SBI signs MoU with Border Security Force to offer special benefits through CAPSP Scheme

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 personnel and family pensioners through the Central Armed Police Salary Package (CAPSP) Scheme. 

In a statement, bank said, the MoU will ensure extensive benefits to the security forces including complimentary Personal and Air Accidental Insurance (Death) cover, additional cover in case of on-duty death, and Permanent Total Disability/ Partial Disability cover.

The MoU will support child education and the



marriage of girl children of deceased BSF personnel. The retired personnel will be eligible for complimentary Personal Accidental (Death) Insurance, irrespective of age, whereas family pensioners will be eligible for a bouquet of benefits. 

Bank will offer zero-balance savings bank accounts with a host of complimentary benefits and waiver of service charges to BSF personnel. Bank will also provide attractive interest rates and concession on processing charges for serving personnel on Home, Car, Education, and Xpress Credit Personal loans.