CSP Full-Form | What Does CSP Stands For?

CSP Full Form

The full form of the abbreviation CSP stands for Customer Service Point.

C ➝ Customer

S ➝ Service

P ➝ Point

What is CSP

CSP means Customer Service Point. These centers are Mini Banks. Where almost all banking facilities are provided. This means the features you get in Bank will also be easily found through the Customer Service Points.

Services Available in CSP

  • Saving Bank Account Opening,
  • Balance Inquiry,
  • Opening RD and FD accounts,
  • Money Deposit and Withdrawal,
  • Issue of ATM card,
  • Linking Aadhaar and Pan card to bank account,
  • Send money from one bank to another,
  • Aadhaar Enabled Payment Service (AEPS) facility,
  • Overdraft service,
  • Apply for loan,
  • Insurance and Mutual Fund,
  • Kisan Credit Card (KCC),
  • Atal Pension Scheme,
  • Prime Minister Jeevan Jyoti Insurance Scheme or Security Insurance Scheme Facility,
  • Mobile, DTH, Data Card recharge,
  • Postpad and Landline phone bill payments,
  • Ticket Booking,
  • Aadhaar and Pan Card services,
  • Insurance premium
  • Passport etc.

Eligibility to Apply for CSP

  • Minimum age of 18 years or more.
  • Resident of the same area where applicant wants to open CSP,
  • Passport size photo,
  • 10th or above educational qualification,
  • Character Certificate,
  • Residence Certificate,
  • Pan card & Aadhar card,
  • Bank Account details,
  • General Knowledge of English and Computer,
  • Retired Employees or Retired Army Personnel will be given priority.

Materials Required for Operating CSP

  • A room or shop of at least 100 square feet,
  • Electricity connection,
  • Laptop or Computer (Minimum 4GB Ram & 512GB Hard Disk),
  • Internet connectivity,
  • Scanner and Printer (Normal and Color),
  • Fingerprint Scanner,
  • Web cam/Digital camera,
  • Seating arrangements for customers.

Total Cost for Opening CSP

You may have to spend at least ₹20000. It can also be up and down according to every company. Apart from this, add the cost of a computer, printer, etc. material, then you will get a total of ₹1 lakh to ₹½ lakh expense.

You also get a loan facility from the bank to take CSP in which you may get a loan up to ₹125000 which is divided into the following categories as follows –

  1. Vehicle loan – ₹50000
  2. Laptop, Printer, and Scanner – ₹50000
  3. Working Capital (on capital) – ₹25000

Material by CSP Provider Company

The company from which you take CSP (Customer Service Point) also provides you with many things. They are as follows –

  • Bank Software, Portal ID, KO ID and Branch Code,
  • Electronic Biometric Readers and software for taking fingerprints,
  • ‘Bank Correspondent (BC)’ accredited certificate,
  • Bank banners, stickers, templates etc. accessories for decoration
  • Training facilities to run the Customer Service Point smoothly,
  • CSP provider company support is also available when technical issues arise.

Earnings from Customer Service Point

Bank has different commissions for every task. Commission found in Banks approx as follows –

  • Opening Bank account through Aadhaar card – ₹25 per customer
  • Connecting Bank account to Aadhaar card – ₹5 per customer
  • Depositing and Withdrawing money – 0.40% commission per transaction
  • Opening PM Jeevan Jyoti Insurance Scheme account – ₹30 per account
  • Prime Minister Security Insurance – ₹1 per year
  • Commission after passing the loan of the customer and 10% commission on getting the loan recovery.

Apply for Customer Service Point

By contacting Bank

If you want to open a CSP in your area, then the bank from which you want to take CSP, you have to go to that bank and meet the Bank Manager. You have to talk to Bank Manager about opening a Customer Service Point.

The bank Manager will then inform you about Qualification and Investment and see if CSP is needed in your area? If it seems to be needed, you will be provided with a Username and Password from Bank. Which will enable you to use the banking facilities by logging in from Bank’s website. As well as you get a loan facility which we have talked about above.

Nowadays the following Bank names are prominent for CSP applications –

  • Customer Service Point by SBI
  • Customer Service Point by BOB
  • Customer Service Point by PNB

By contacting the company

If you wish, you can also contact the companies and take a Customer Service Point. But nowadays many Frauds are happening, then you should do a full investigation of the company you are taking CSP from them so that you will not have any problem later.

CSP provider companies have the following major –

  • CSC
  • Paypoint
  • Vyam Tech
  • Bank Mitra
  • Sanjivini
  • Oxygen
  • FIA Global etc

Note:- Before taking CSP from any company, do a full investigation and beware of fake and fraudulent websites. There may also be many fake websites created by the name of the website given above. So Do not fall prey to any Fraud.

CSP other Full Forms

  • CSP Full Form In Banking/CSP Full Form In SBI – Customer Service Point, Customer Selected Pin
  • CSP Full Form In Police – Chief Superintendent Of Police
  • CSP Full Form In Security – Content Security Policy, Critical Security Parameter
  • CSP Full Form In Cloud – Cloud Service ProviderCloud Solution Provider, Client Server Protocol
  • CSP Full Form In Computer – Communicating Sequential Processes, Communications Support Processor, Computer Support Program, Cryptographic Service Provider, Computer Security Plan
  • CSP Full Form In Yarn/CSP Full Form In Textile – Count Strength Product
  • CSP Full Form In Telecommunication – Communication Service Provider, Custom Sim Profile, Callback Service Provider, Converged Service Platform, Continuous Speech Processing
  • CSP Full Form In Software – Commerce Solution Provider, Cache Server Pages, C Server Pages, Crystal Server PagesCommunication System Simulator
  • CSP Full Form In UPSC – Civil Services Preliminary
  • CSP Full Form In Solar – Concentrated Solar Power
  • CSP Full Form In Safety – Certified Safety Professionals
  • CSP Full Form In TCS – Cloud Service Partners
  • CSP Full Form In Court/Law – Court Statistics Project, Center For Surrogate Parenting, Child Support Payment, Community Safety Partnership, Connecticut State Police, Company Secretarial Practice
  • CSP Full Form In Medical – Cavum Septi Pellucidi, Cancer Surveillance Program, Carotid Sinus Pressure, Cell Surface Protein, Cervical Screening Programme, Chartered Society Of Physiotherapy, Children’s Services Plan, Chlamydia Screening Programme, Community Services Plan, Community Support Program, Coronary Sinus Pressure
  • Cluster Server Package, Customer Service Professional Etc….

What is CSP ? – Full Form of CSP

CSP means Customer Service Point provides banking services in rural areas.

What is the eligibility for a CSP application?

Such as – minimum 18 years age of the applicant, resident of the same area in which the applicant wants to open CSP Center, etc. You can read more information in the article.

How much will it cost to get a customer service point?

If you want to open CSP Center, you may have to spend at least ₹20000 (Different fees according to every company). Apart from this, after adding the cost of a Computer, Printer, etc. material, then you may have to spend a total of ₹1 lakh to ₹10 lakhs.

Is there a loan facility for Customer Service Point?

Yes, a loan facility is available for Customer Service Points (Mini Bank).

Murari Poonia

Passionate About Writing Code, Murari Poonia is a Student cum Web Developer cum Part Time Blogger. Who is Always Eager to Hunt New Ideas.

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  1. Murari Poonia

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