• What? Launch of SBI Life – Smart Platina Advantage
• By whom? SBI Life Insurance
• Type: Individual, non-linked, non-participating life insurance savings plan
• Objective: Provide long-term guaranteed savings and life cover for financial security
• Target Audience: Individuals planning for milestones like children’s education, retirement, wealth creation, or secondary income
• Premium Term: Limited Premium Payment Term (LPPT) of 7 or 10 years.
• Minimum Premium: Rs. 50,000 per annum
• Policy Term: Options of 15, 20, or 30 years.
• Other Launch: SBI Signs MoU with TN PSUs for Enhanced Salary Benefits
• Purpose: Extend enhanced banking benefits to PSU employees
• Benefits: Zero-balance accounts, concessional interest rates, fee waivers, premium banking, digital solutions

About ‘Smart Platina Advantage’ Guaranteed Savings Plan:
Product Nature: A savings-oriented life insurance plan offering guaranteed benefits and financial protection.
Life Cover: Provides security for the family throughout the policy term in case of the life assured’s death.
Minimum Premium: The plan features limited premium payment terms, assured guaranteed additions every policy year, and flexible maturity payout options (lump sum or instalments) for post-maturity liquidity, available from Rs.50,000 annual premiums with tax benefits under Income Tax Act provisions.
Term: Limited premium payment of 7 or 10 years with coverage for 15, 20, or 30 years.
Guaranteed Additions: Accrues annually to boost maturity value, with higher additions for larger premiums and longer terms.
Maturity Option: Flexibility to receive maturity proceeds in installments up to 7 years for post-maturity liquidity.
Transparency: Ensures predictable outcomes with guaranteed additions and protection regardless of market fluctuations.
SBI Signs MoU with TN PSUs for Enhanced Salary Benefits
In January 2026, the State Bank of India (SBI) signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu (TN) to extend enhanced benefits under the Corporate Salary Package (CSP) for TN’s State Public Sector Undertakings (PSUs) employees.

• The MoU was signed by C.R. Balaji, Additional Director and ex-officio Joint Secretary, Finance Department, TN, and Smitha S. Nair, Deputy General Manager, SBI.

Key Benefits of CSP:
Cost Savings: The package offers zero-balance salary accounts, concessional interest rates on home, car, and personal loans, and a waiver of processing fees across select banking and loan services.
Premium Access: Employees receive premium banking support, including dedicated relationship managers, wealth management solutions, and secure, customized digital banking platforms for seamless transactions.