New health cover with steady health premiums part of SBI Day launches

Mumbai: State Bank of India's non-life arm has launched a health cover that will ensure a stable premium amount for over 25 years. The product is part of a slew of new initiatives launched by the bank to celebrate its 69th anniversary.
SBI General Insurance has introduced the Arogya Advanced plan, designed to offer stable premiums across specific age groups (slabs).For example, a policyholder purchasing this plan at 18 years old with a sum insured of Rs 5 lakhs and a premium of Rs 11,999/- will continue paying the same premium until reaching 45 years old. This initiative aims to provide predictable health insurance costs, ensuring accessibility and affordability of healthcare throughout various life stages.
On the digital front, the bank has enabled tap-and-pay in its BHIM SBI Pay app that will enable customers to use NFC-enabled phones to make payments at point of sale terminals without scanning. Moreover, customers can make transactions up to Rs 500 without the use of UPI Pin. The bank has also added new features in its Yono app, including enabling digital loans against mutual funds. The eligibility criteria for Yono Business and corporate internet banking have been revised to enable small businesses to participate.
The new YONO Business / Corporate Internet Banking product offers businesses simplified role management with no mandatory admin or regulator. The addition of this feature will eliminate the challenge faced by small businesses for the requirement of at least three mandatory role holders of the platforms. The new feature offers a limit of Rs. 50 lakhs per transaction and facilitates quick transfers up to Rs. 25,000 per transaction with a daily limit of Rs. 5 lakhs.
These new launches were part of a slew of new initiatives announced by the bank on the occasion of the 69th foundation day. The bank’s chairman, Dinesh Khara, inaugurated SBI’s second Global NRI Centre (GNC) in Patiala, Punjab, on the Bank Day. The bank had earlier opened its first Global NRI Center in Kochi in response to the high share of non-resident business following the merger of State Bank of Travancore with SBI.
To finance solar rooftop projects, SBI has launched a fully digital end-to-end journey for SBI Surya Ghar Loan. Users can opt for credit for installing solar rooftops under the Government of India's PM Surya Ghar Scheme, offering loans for up to 10 KW capacity. The entire process will be managed on SBI’s digital platform, from applicant registration on the MNRE/REC portal to loan disbursement.
The bank has further automated its home loan processes so that the customer will receive an email and SMS notification on the status of their home loans at every processing stage.
To expand its outreach, the bank has launched two new contact centres in Gurugram and Bengaluru, aimed at enriching borrower engagement and delivering prompt assistance in loan management. This initiative forms a crucial part of SBI's broader strategy to fortify its service ecosystem, with plans underway to establish two additional centres in Navi Mumbai and Kolkata. Complementing the existing network of four contact centres in Agra, Bengaluru, Kolkata, and Vadodara, these facilities collectively handle over 25 million calls and 80,000+ emails monthly, supported by a diverse team of over 4,000 multi-lingual outsourced agents proficient in 12 languages.
The bank’s new e-Dealer Financing Scheme will provide loans up to Rs 5 crore and will cover 87% of the bank’s dealer portfolio, substantially reducing the turnaround time (TAT) for new onboarding and renewals.