Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas.
Unlike employees at state-owned banks, SBI employees are supposed to enjoy a “third benefit” as a part of their superannuation package. While others receive only provident fund (or pension) and gratuity post-retirement, SBI executives additionally get a third pension component.
To avail pension through State Bank of India, the retiring employee can open account with any branch of State Bank of India, preferably with spouse and provide the account number to the Department from where, he/she is going to retire.
You can claim online to get your State Pension paid directly into your bank account when you're within 4 months of your State Pension age. Call the State Pension enquiries line to report a change, eg your address, spouse or partner, or bank account details.
3.Apply
- Sign in to myGov and go to Centrelink.
- Select Payments and Claims from the menu, then Claims, then Make a claim.
- Under Seniors select Get started.
- Select Apply for a loan under the Pension Loans Scheme.
- Answer all the questions.
- Submit your application.
List of Banks Offering Best Savings Account for Pensioners
| Bank | Account Type | Interest (in per annum) |
|---|
| ICICI | Life Plus Senior Citizens Account | Up to 7.25% |
| Axis Bank | Pension Savings Account | Up to 4% |
| Bank of Baroda | Baroda Pensioners Savings Bank Account | Up to 4% |
| IDBI Bank | Pension Saving Account | Up to 4% |
-At first you need to log in to SBI mobile app. -From Menu tab, go to 'My Profile' and click on edit icon. -Enter the new mobile number/email ID. -Now generate OTP and enter the OTP received on the old registered number.
Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas. Further, the bank used to levy a penalty of Rs 5 to Rs 15 + taxes on non-maintenance of average monthly balance as stated above.
The SBI Life Saral Pension Plan is an individual participating non-linked traditional pension plan which comes with Guaranteed Bones and Simple Reversionary Bonus. If you are looking for a good retirement plan with a regular income, this plan is a good investment.
Every individual who is a part of the Employee Pension Scheme (EPS) gets a member ID. This member ID of the EPF account is also the member ID for the individual's EPS account. Thus, your EPF, as well as, EPS contributions will be all deposited under the same Member ID. 0 0.
How to register
- Create a User-ID (with min 5 characters)
- Now, enter your pension account number.
- Enter your Date of Birth.
- Enter the Branch code of pension paying branch.
- Registered email ID same as submitted to the branch.
- Enter new password, then confirm password.
Online Process for Opening NPS AccountThe online process of opening a New Pension System Account is very simple. You just need to go to www. npstrust[dot]org.in and then, click on to e-NPS. In order to open the NPS account, you will need to get yourself registered and you can do it in two ways.
PPO Enquiry – Get your Pension Payment Order(PPO) Details
- Step 1: Go to
- Step 2: Then Enter the Details as shown.
- Step 3: Click on Submit.
- Step 4: Choose Pension Payment Enquiry on the left side.
- Step 5: Click PPO Enquiry on the left side.
- Step 6: PPO Details would be displayed as shown below.
You can:
- look at your pension statement – your provider should send you this once a year.
- online – many providers let you track your pension on their website.
- Visit EPFO Website –
- Click on 'Pensioners Portal' ( left side of page under Online Services)
- On the next page – Welcome to Pensioners' Portal – click on 'Know your PPO No. '
- Here, you can enter your bank account number which is linked to pension.
Similarly, for pensioners or those individuals who are on the verge of retirement, the Pension Payment Order (PPO) number is an important document. This is because PPO number is a unique 12-digit number that helps in getting their pension.
Firstly you need to visit the official website of Tamil Treasury department or you can directly visit
- Now three options will appear in front of you and you have to select the “ECS status for pensioners” link.
- Now status login page will appear.
ECS Status Of Government Employees
- First, visit the official website of the Treasury department of Tamil Nadu given here.
- On the homepage, click on the “ECS Status” link.
- A new webpage will be displayed on your screen.
- You can directly go to that web page by clicking here.
- Three options will be displayed on the screen.
How to register:
- Create a User-id (to be created by the pensioner - min 5 characters)
- Enter your Pension account number.
- Enter your Date of Birth.
- Enter the Branch code of pension paying branch.
- Your registered email id same as submitted to the branch.
- Enter new password, then confirm password.
