SBI Rishtey savings account: Who is eligible for zero-balance family accounts and what are the benefits?

State Bank of India (SBI) salary account holders with Gold and above salary package variants can extend select banking benefits to their family members through the bank's SBI Rishtey savings account facility.

The scheme allows eligible customers to link up to four individual family savings accounts to their primary salary account.

The facility offers benefits such as zero minimum balance requirements, waived debit card issuance and maintenance charges, free online NEFT and RTGS transfers, and a concession on annual locker rental.

However, SBI Rishtey is not available to all savings account customers. Eligibility depends on the primary account holder's salary package, and the benefits are subject to the bank's applicable terms and conditions.

SBI Rishtey: Who can open a family savings account?

SBI Rishtey is available to family members of customers holding Gold and above variants of SBI Salary Packages.

Eligible salary account holders can open new accounts or convert existing eligible accounts for the following relatives:

• Parents

• Spouse

• Siblings

• Children

A maximum of four individual family savings accounts can be linked to the primary salary account.

SBI Rishtey benefits: Zero balance and no debit card maintenance charges

One of the key features of SBI Rishtey is that linked family savings accounts have no minimum balance requirement. SBI also specifies no penalty for non-maintenance of the minimum average balance (MAB).

• Debit card charges: Issuance and maintenance charges are waived.

• Multi-city cheques: Charges are nil.

• Online NEFT and RTGS: Free through online channels.

• Offline transactions are charged as applicable to regular savings accounts.

• Demand drafts: Issuance charges are waived when the draft is issued by debiting the family savings account.

• SMS alerts: Free.

• Auto Sweep facility: Available, subject to applicable terms.

• Locker rental: A 10% concession on annual locker rental.

These features can help eligible families reduce certain routine banking costs. However, customers should check the applicable schedule of charges for services not specifically covered by the concessions.

SBI Rishtey ATM rules: How many free transactions are allowed?

According to SBI's benefit details, transactions at SBI's own ATM network are unlimited under the facility.

For other banks' ATMs, the benefit table lists a maximum of 10 free transactions per month, including financial and non-financial transactions. However, the same material includes a note stating that, with effect from October 1, 2026, a maximum of five free transactions is allowed, including financial and non-financial transactions.

Because these provisions appear inconsistent, customers should confirm the current limit with SBI before relying on the benefit.

SBI Rishtey accidental insurance: Check the ₹5 lakh cover

SBI's listed benefits include personal accidental death insurance cover of ₹5 lakh for each eligible member, excluding minors.

The actual applicability of the cover depends on the relevant terms and conditions. Customers should check the eligibility requirements, exclusions and claim procedure with SBI before treating this benefit as a substitute for separate personal accident insurance.

Before opening or converting an account, customers should verify their salary package eligibility, the four-account limit, current ATM transaction rules and the terms attached to the accidental insurance cover.