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SALARY ACCOUNT CONVERSION FORM

The document is a request to convert a Savings Bank account into a Salary Package Account with an auto-sweep facility at the State Bank of India. The requester provides their employment details, salary slip, and KYC documents for verification. The request includes options for account conversion and the setup of auto-sweep conditions based on account balance.

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bhogems
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795 views2 pages

SALARY ACCOUNT CONVERSION FORM

The document is a request to convert a Savings Bank account into a Salary Package Account with an auto-sweep facility at the State Bank of India. The requester provides their employment details, salary slip, and KYC documents for verification. The request includes options for account conversion and the setup of auto-sweep conditions based on account balance.

Uploaded by

bhogems
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Annexure-14

The Asst General Manager/ Chief Manager/ Branch Manager


State Bank of India
______________ Branch

Dear Sir,

SALARY PACKAGE ACCOUNT


REQUEST FOR CONVERSION OF SB ACCOUNT TO SALARY PACKAGE (SP)
ACCOUNT AND AUTO SWEEP FACILITY

I maintain a Saving Bank account with your branch and the account number is
___________________. I am presently employed as_______________with
______________________________(Company/Organization Name). The latest salary
slip/Joining letter is enclosed for your reference. I request you to accept it for opening the
savings account.

In addition I am enclosing a copy of ____________________ (any one of Passport, driving


y bills such as telephone bill, Bank account
statement, Electricity bill etc.) satisfying the KYC norms as prescribed by your Bank/ RBI.

2. In this connection I request that my existing account be converted into a Corporate / State
Government / Central Government/ Police / Railway Salary Package with all its special features.

3. As regards converting my account to Savings Plus account: (Please tick in the appropriate
box)

a. I do not wish to avail of this facility OR

b. I request you to convert my savings account into a Savings Plus account.

In case the response b is ticked:

I request you to set up auto-sweep facility in the said account, should the balance in my
account exceed Rs.Rs.35,000/- or above) as at the end of the day (please tick)

On weekly basis, each __________ day (e.g.,


week.
OR
On monthly basis ____________ (e.g. 1st or 2nd or 3rd
beginning from _________ (dd/mm/yy)

I authorise you to transfer the excess amount to a Multi Option Deposit (TD/STD) (please
tick) for a period of _________ month/ year(s). I understand that this auto sweep will be
done for a minimum amount of Rs.10,000/- and in multiples of Rs.1,000/- at any one
instance. Further, under the reverse sweep facility for breaking of Multi Option Deposit,
I authorise you to break the Multi Option Deposit by following the principle of (please tick)
.

I confirm that I have read and understood the Terms and Conditions of Savings Plus
Account. Payment of proceeds, as well as nomination for the term deposits so made would
be as per my/ our Savings Plus Account with you, by debit to which the Multi Option Deposits
would be created.

42 | P a g e
Yours faithfully,

(Signature)
Name:

Address

Date

Place:

43 | P a g e

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