In 2026, two giants in the banking world: Punjab National Bank (PNB) and State Bank of India (SBI), have taken a big leap forward by improving Defence Salary Package accounts. The main goal of these new changes is to make life easier and more rewarding for our defence personnel. But with both banks offering upgraded packages, how do you decide which one suits you best?

In this article, we will share all the exciting details of these improvements, compare their benefits, and help you choose the perfect account that not only meets but exceeds your expectations. 

What is a DSP (Defence Salary Package) Account?

Defence Salary Package (DSP) Accounts are special accounts specifically designed by State Bank of India just for people in the defence services. These accounts come with extra benefits to manage your salary and finances in a simple manner. They offer perks like no-maintenance fees, special loans, and more, all aimed at making life easier for our soldiers, sailors, and airmen. If you're in the defence, this account is made to help you handle your money better and enjoy some extra advantages along the way. DSP Account is specifically for:

• Serving personnel of the Indian Army, Navy, Air Force, and Coast Guard.
• Pensioners who have retired from these services.

These accounts offer exclusive benefits, including:

• Zero balance requirements
• Concessional loan rates
• Complimentary insurance covers
• Waivers on various banking charges

Key Features of SBI Defence Salary Package (DSP) 2026:

SBI's DSP account offers a range of special benefits to make managing your finances easier. Here’s let’s take a quick look at some of its key features:

• Zero Balance Account: No minimum balance required.
• Unlimited Free Transactions: Across all ATMs in India.
• Complimentary Insurance: In this category, you can get:
  • Personal Accident Insurance (Death): INR 50 lakh
  • Air Accident Insurance (Death): INR 1 crore
  • Permanent Total/Partial Disability: Up to INR 50 lakh
  • Additional INR 10 lakh for death in action against terrorists/Naxalites/foreign enemies.
• Loan Benefits: Personal, home, car, and education loans at competitive rates along with a 100% waiver on processing fees.

There are some additional perks that comes with these SBI DSP Accounts:

• Up to 25% discount on locker rentals
• Auto-sweep facility for higher interest earnings
• Free issuance of drafts, SMS alerts, NEFT/RTGS and multi-city cheques
• Overdraft facility equal to two months' net pay (for selected customers).
• SBI Rishtey: A family savings account that offers some great and different perks

Note: The benefits depend on which type of salary package and account version you have.

What is a PNB Rakshak Scheme?

The PNB Rakshak Scheme is a specialized banking offering by Punjab National Bank (PNB) designed specifically for defense personnel, including serving and retired members of the Indian Army, Navy, and Air Force. This scheme aims to provide financial security and ease for defense personnel by offering a variety of banking benefits.

Major Features of the PNB Rakshak Scheme 2026:

• Zero Balance Account: No minimum balance requirement, allowing effortless management of your finances.
• Complimentary Insurance Coverage: There are some complimentary offers too:
• Personal Accident Insurance: INR 1 Cr. cover for accidental death.
• Air Accident Insurance: INR 1.5 Cr. cover for air-related accidents.
• Permanent Total Disability Insurance: INR 50 lakh to support you in case of permanent disability due to an accident.
• Funeral Expenses: INR 30,000 for covering the funeral-related expenses.
• Emergency Medical Expenses: INR 25,000 for unexpected medical emergencies.
• Ambulance Charges: INR 10,000 to ensure immediate medical assistance.

Additional Personal Accident Benefits:

• Cover for Death due to Terrorism/Naxalite Action: ₹10 lakh for accidents related to national security.
• Educational Benefits for Children: ₹5 lakh per child per year for up to 4 years to support dependent children’s education in case of accidental death.

Loan and Overdraft Facilities:

• Overdraft Facility: You will get up to INR 75,000 providing instant liquidity support.
• Specialized Loans: Preferential interest rates on housing loans, car loans, and personal loans.

Other Valuable Benefits:

• Free and Unlimited Cheque Books: No charges for cheque books, ensuring easy financial transactions.
• Free Fund Transfers: Make unlimited transfers and demand drafts at no cost.
• 25% Rebate on Locker Rent: Get a 25% discount on locker rentals for a 3-year package.
• Free SMS Alerts: Stay updated on account activity with no additional charges.
• Family Accounts: Family members (spouse, parents, dependent children) can also open zero-balance savings accounts, ensuring ease of access for loved ones.

Exclusive Card Benefits:

• Debit cum ATM Card: ATM cards are issued for free, allowing for quick withdrawals and transactions.
• Credit Card Facility: Available for eligible account holders, with additional benefits like enhanced insurance covers.

PNB Rakshak Plus Scheme - Eligibility Criteria

The PNB Rakshak Plus Scheme is created to support all kinds of defense personnel, whether they are currently serving or have already retired.

• Defence Forces: Personnel from the Indian Army, Navy, and Air Force.
• Police Forces: State Police Forces, and Railway Protection Force (RPF), Metro Police (cities with Police Commissionerate systems like Mumbai, Kolkata, Delhi).
• Special Forces & Agencies: Personnel from NSG, Special Protection Group, NDRF, Fire Services, RAW, IB, and CBI.
• Others: Some other personnels are also included:
  
  • Indian Coast Guard personnel.
  • Gentlemen cadets and trainees from the special forces of central and state-level
  • Pensioners from the above categories drawing pensions through PNB branches, including those credited via CPPC, SPARSH, or state treasuries.

SBI Defence Salary Package (DSP) – Eligibility Criteria

The SBI Defence Salary Package (DSP) is specially designed for defense personnel, offering different account options depending on their rank and the branch of service they belong to.

Rank-based Classification (Gold/Diamond/Platinum): SBI does categorize accounts based on rank:

• Gold: This one includes JCOs & below officer rank
• Diamond: This one includes Captains, Lieutenants, etc.
• Platinum: This one is for senior officers like Colonels, Air Marshals, etc.

Every armed forces (Army, Navy, Air Force, etc.) has a unique rank-to-variant categorization.

Indian Armed Forces:

• Army: All ranks, from Personnel Below Officer Rank (PBOR) to General.
• Navy: All ranks, from Sailors to Admiral.
• Air Force: From Airmen to Air Chief Marshal. All ranks.

Comparison Table: PNB Rakshak vs. SBI DSP Eligibility For Serving Armed Forces Personnel (Army, Navy, Air Force)

For Defence Pensioners

Which One Should You Choose - SBI DSP or PNB Rakshak?

Choosing between SBI's Defence Salary Package (DSP) and PNB's Rakshak Plus depends on your service category and personal preferences.

Choose SBI Defence Salary Package (DSP) If You:

• Serve in the Armed Forces: Perfect for those in the Indian Army, Navy, or Air Force. SBI’s DSP is specifically made for core defence personnel.

• Want Rank-Based Benefits: SBI offers Gold, Diamond, and Platinum account types depending on your rank. Officers get more premium services.

• Looking for High-Value Benefits: Such as free personal accident insurance, zero balance requirement, Free locker rent and Free unlimited ATM transactions.

• Defence Pensioner: SBI also offers seamless pension account options with all the benefits extended to retired personnel.

Choose PNB Rakshak Scheme If You:

• Work in Broader Uniformed Services: Not just military! This account is for police, special forces, RPF, Coast Guard, and even intelligence agencies like IB, RAW, etc.

• Want Wider Eligibility: PNB includes Trainees (cadets, police academy recruits), Members of state police, fire services, disaster response teams (NDRF), and Pensioners receiving pension through PNB.

• Prefer Simple Benefits for All Ranks: Unlike SBI, PNB offers similar benefits to all defense personnels irrespective of their ranks. 

• Need Strong Coverage: More personal accident insurance cover, Lifetime free debit card, Easy loan facilities with fee waivers, Free drafts, cheques, and locker discounts.

In conclusion, both accounts are designed to honour your service and make banking easier for you and your family. Therefore, go with the one that matches your service background, location needs, and the kind of benefits you actually use.