Question: Is SBI Good For Salary Account?

Can I open salary account online?

If you are eligible, the application for Easy Access Salary Account can be made online or at your nearest Axis Bank branch.

Make sure all your documents are in order for a hassle-free account opening process.

To be able to open an Easy Access Salary Account, you need to submit certain documents..

Is current account and salary account same?

Key difference: A salary account is a bank account designed and offered mainly to salaried persons. A current account, on the other hand, is an account which is designed to suit the needs of businessman, firms, companies, public enterprises, etc. Each one has its own benefits and advantages.

What are the benefits of SBI salary account?

Here are a few benefits of our Salary Package Account:Zero Balance Account.No Monthly Average Balance charges.Employee Reimbursement Account.Auto Sweep Facility.Lifetime Free Debit Card with exclusive benefits.Free unlimited transactions across any Banks’ ATMs.Free Demand Draft.Free Multi City Cheques.More items…

What is the benefit of salary account?

However, there are certain common benefits that come with a Salary Account – zero minimum balance, free cheque book / passbook / e-statements, Debit Cards, NetBanking, Phone Banking, online fund transfer, Demat Account/services, loan conveniences, Credit Card offers, utility bill payments, etc.

What is the minimum balance for SBI salary account?

The Bank offers attractive interest rates provides facilities like free debit card, mobile banking and net banking, 25% discount on locker facilities (Corporate Salary Package) etc….Table of Contents.BankState Bank of IndiaCategorySBI Special Salary AccountMinimum Balance Requirements (MAB)Nil2 more rows

What is difference between saving and salary account?

A Salary Account is opened by an organization with the purpose of crediting the salary to the employee. A Savings Account can be opened by anyone with Aadhar card to deposit money for the purpose of holding or saving it with the bank. … A Salary Account is created by the employer. Anyone can open a Savings Account.

Can we have 2 SBI accounts?

You can, but different type of accounts. There are different type of accounts in bank (Savings, Demat, Current, Salary, etc.. ). You can open any of these account in same branch or different branch. All of these account will have single customer ID, all account will get linked (i.e., it will share your same Identity).

Can I change my salary account?

If you are working in government sector, you can change your salary account by submitting details of your new salary account to concerned department.

Can I convert my SBI saving account to salary account?

Existing SBI saving account can also be converted to salary accounts, according to the lender. State Bank of India or SBI offers the facility of opening a salary package account, which is a special savings account offered to salaried customers.

Can we save money in salary account?

You can put in cash in the Salary Account anytime but be aware that if the monthly number of ‘over-the-counter transactions’ done for the account crosses the specified number, it may attract a small fee. Over-the-counter transactions include depositing cheques, cash and withdrawing cash.

Do we get interest on salary account?

As the name says, a salary account is basically opened by your employer to credit your salary. However, the amount maintained in the account, will not be entitled for interest rate. …

How do I know my SBI account is salary?

After logging into the SBI’s website hover over to the My Accounts &Profile followed by, Account statement, click the button to view the statement and the account type there. Now all the accounts associated with your customer id otherwise linked with the primary account will be shown that may be any kind of account.

How can I get SBI salary slip?

Generate SBI Employee Salary SlipGo to the official HRMS website portal the homepage, enter your user id and password to log in.Next, click on the option of my salary slip. … Here enters the moth, the year you wish to generate the salary slip.More items…

How can I apply for salary account?

Open a Salary Account in 3 easy stepsPAN Card.Aadhaar Card.Voter ID Card.Driving License.Passport.An ID card issued by the Central or State Government.Public Sector Units (PSUs) and/or NREGA Job Card.

What happens if salary is not credited in salary account?

When there is no salary credit in the salary or zero balance account for continuous three months, the account will be treated as savings account and individuals need to maintain required Average Quarterly Balance (AQB) as suggested by the bank.

Which bank is best for salary account?

Top Salary AccountsKotak Platina Salary Account.SBI Corporate Salary Package.HDFC Bank Classic Salary Account.Citibank Suvidha Salary Account.Axis Bank Prime Salary Account.

Can I convert salary account to saving account?

An employer will credit the salary to the employee’s bank account on a monthly basis. If the salary is not credited to the employees’ bank account continuously for more than three months, then the salary account will be treated as savings bank account.

Is salary account better than saving account?

If the salary has not been credited to your Salary Account for a certain period of time (usually three months) then the bank will convert your Salary Account into a regular Savings Account with a minimum balance requirement….Personal loanFixed depositCredit CardSavings AccountCar LoanEasyEMI

How is SBI for salary account?

Benefits of SBI salary account The main benefits of the salary account are – Zero balance account and free unlimited transactions across ATMs of any bank, free ATM-cum-debit card, an additional ATM card for the joint account holder, free Internet banking, free multicity cheques etc.

Is HSBC Good for salary account?

I have a salary account with HSBC BANK and its been 8months. The savings interest rate is good. The online services are user friendly and there was no charges for online transfer. ATM’s are limited and since am an employee of this bank, I have no charges for other ATM transactions.

Is salary an expense?

Wage expense is a variable-rate cost, which depends on the type of wage (e.g., a time wage, piece wage, or contract wage). Salary expense is a fixed-rate cost and depends on each employee’s salary contract terms.

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