The SBI Rishtey savings account allows State Bank of India salary account holders with Gold and above salary packages to link up to four family savings accounts to their primary salary account. This facility offers several benefits including zero minimum balance requirements, waived debit card charges, free online fund transfers, and insurance coverage. It is designed to help eligible families reduce routine banking costs and enjoy convenient banking services.
- Eligibility limited to SBI salary account holders with Gold and above packages
- Up to four family savings accounts can be linked
- No minimum balance requirement or penalty for linked accounts
- Waived debit card issuance and maintenance charges
- Free online NEFT and RTGS transfers
- Concession on annual locker rental fees
- Personal accidental death insurance cover of ₹5 lakh per eligible member
- ATM transaction limits vary; customers should confirm current rules
Who is eligible for the SBI Rishtey savings account?
Only SBI salary account holders with Gold and above salary package variants can avail the SBI Rishtey facility. These primary account holders can open new or convert existing savings accounts for their family members, linking up to four individual family accounts to their salary account.
What are the main benefits of linking family accounts under SBI Rishtey?
Linked family savings accounts under SBI Rishtey enjoy several benefits:
- Zero minimum balance: There is no minimum average balance requirement, and no penalties apply for non-maintenance.
- Debit card charges waived: Issuance and maintenance fees for debit cards are waived.
- Free online transfers: NEFT and RTGS transactions through online channels are free of charge.
- Locker rental concession: A 10% discount on annual locker rental fees is provided.
- Demand drafts: Charges are waived when drafts are issued by debiting the family savings account.
- Auto Sweep facility: Available subject to terms and conditions.
What are the ATM transaction rules for SBI Rishtey accounts?
According to SBI, transactions at SBI's own ATMs are unlimited for linked accounts. For other banks' ATMs, the benefit table initially listed a maximum of 10 free transactions per month, including both financial and non-financial transactions. However, a note states that effective October 1, 2026, the limit is reduced to five free transactions per month. Due to this inconsistency, customers should verify the current ATM transaction limits directly with SBI before relying on this benefit.
Is there any insurance coverage with SBI Rishtey accounts?
SBI provides a personal accidental death insurance cover of ₹5 lakh for each eligible linked family member, excluding minors. The applicability of this insurance depends on specific terms and conditions. Customers should review eligibility criteria, exclusions, and claim procedures with SBI to understand the coverage fully and not treat it as a substitute for separate personal accident insurance.
What should customers verify before opening or converting accounts under SBI Rishtey?
Before opening or converting accounts, customers must confirm their salary package eligibility (Gold and above), the four-account linking limit, current ATM transaction rules, and the detailed terms related to the accidental insurance cover. Checking the latest schedule of charges for services not covered by concessions is also advisable to avoid unexpected fees.
In summary, the SBI Rishtey savings account facility offers valuable benefits to eligible SBI salary account holders and their families. By linking family accounts, customers can enjoy zero balance requirements, waived fees, free online transfers, and insurance coverage, making banking more convenient and cost-effective.
