What is SBI CSP?

The full form of CSP is Customer Service Point. Many times we do a very common mistake to refer to the Customer Service Point to any bank as SBI CSP. So basicallyCustomer Service Point is a banking outlet which is handling by non-banking individuals or we can say SBI CSP is like a mini bank that carries transactions and businesses.

Services that carried out in SBI CSP-

• Money transfer to another SBI/ BC account holder that in other location
• Withdrawal and deposit of cash
• Loan disbursement
• Current limit is 20,000 per day per bank account holder

If anyone wants to work as an licenced SBI CSP operator then it is important to complete the registration. After successful CSP registration, he or she will get a unique code from the State Bank of India that authorising him/her to set off an SBI kiosk banking outlet.

The main purpose of an SBI Customer Service Point is to deliver immense banking facilities to the citizens which includes Saving Bank Account Opening, Cash Deposit, Cash Withdrawal, Micro Insurance, Atal Pension Yojna, PradhanMantri Jan DhanYojna, PradhanMantriSurakshaBeema, PradhanMantriJeevanJyotiBeema, Senior Citizen Savings Scheme etc.

As we have already mentioned the importance of SBI CSP. We only believes in loyalty and works on trust so we as a CSP provider always performs a screening test and training session before handling the responsibilities. Some other benefits like Railway Reservations, Flight Ticket Booking, Bus Ticket Booking, Gas Cylinder Booking, Mobile Recharge, DTH Bill Payment, Broad Band Bill Payment, Post Paid Bill Payment etc. are also included in SBI CSP.

Benefits for Retailer

• We can say this is a new revenue system of Mini-Banking
• With SBI CSP it is easy to Money Transfer
•  An account holder can be your customers who already are the member of the same.
• With this services it helps to increase customer footfall
• Loyalty and trust as it is a trusted source for money transfer with a strong brand name SBI

Benefits for Customers-

• Customers can start with zero balance account.
• No minimum balance is needed to maintain the account.
• Maximum account balance can be Rs 50000 but when customer will provide the KYC within 12 or 24 months
• Customer can also open account with zero balance with KYC Limit up to 12 lacs.
• The maximum limit of transactions is 10,000/- per day.
• No Cheque book is needed.
• Only the account holders can do the cash transactions.
• No charges are needed to operate account. 

Other Benefits include-

• You can apply for home loans or loan against property.
• Easily access Auto Loans/Gold Loans/Small & Medium Enterprise (SME) Loans
• You can access general purpose credit card or kissan credit card
• No Frill SBI Saving Bank Account
• Mutual fund on a Referral basis
• Loans against Term Deposit Receipt (TDR), NSC, KVP
• As long as the retail outlet is open (usually 8:00 am to 8:00 PM)Additionally, access to withdrawal of money through ATM card is provided to every customer above 18 years of age.
• It helps & give opportunity to promote business through SHG (Self-help group)
• Customer can also make small saving separately with the help of RD facility.

Conclusion:- With this blog we have clear idea about the CSP and services in SBI CSP. Oxgn BC Foundation is a Mini Bank CSP Provider in India. Contact us to get the best and reliable services 9073643016.

For more details: –

Visit us: – https://oxgnbcfoundation.com/