Quick Answer: Which Bank Is Best For Salary Account Quora?

Is HDFC good for salary account?

HDFC Bank Salary Accounts come with a number of benefits that make it one of the most preferred banks to do business with.

It not only provides all common benefits, but also ensures enhanced banking experience for all Salary Account holders..

What is Benefits 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.

Is interest on salary account taxable?

If you earn interest income of up to Rs 10,000 from a savings account, you can claim tax deduction under Section 80TTA of the IT Act. However, if this amount exceeds Rs 10,000, it is taxable as per applicable slab rates. … 50,000/- as per Section 80TTB for interest on Fixed deposit and interest on saving accounts.

Is SBI is good for salary account?

State Bank of India offers different types of salary accounts for government employees, corporates, etc. 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.

Which bank is better for salary account Quora?

Citibank is undoubtedly the best bank for a salary account. Some benefits include: Zero balance requirement. Unlimited ATM withdrawals from any ATM.

Does salary account have interest?

Banks offer interest on both Salary as well as Savings Account. The interest rates depend on the type of Savings/Salary Account you have.

How can I make 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.

Which bank is best for salary account 2021?

Best Salary Account in India 2021HDFC Regular Salary Account.Axis Bank Prime Salary Account.SBI Corporate Salary Package.Kotak Platina Salary Account.Citibank Suvidha Salary Account.May 4, 2021

Which is better salary account or saving account?

One important difference to know, apart from the above is that a salary account may entitle you to an easier loan, as well as credit cards….Savings Account.Salary accountSavings accountWho can OpenEmployerAnyonePurposeCredit of salaryTo encourage SavingsMinimum BalanceNo Minimum BalanceMinimum Balance Required2 more rows•Feb 28, 2020

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.

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.

Is HDFC better or Icici?

The highlighted ones are the metrics where HDFC Bank has performed better than ICICI Bank….ICICI Bank has outpaced HDFC Bank on nearly every count in the last three months.GrowthICICI BankHDFC BankProfit after tax+260.5%+26%7 more rows•Apr 25, 2021

Which bank is the 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.

How can I convert my savings account to salary account?

You would need to intimate your employer about your existing Bank details, so that the monthly salary credits are routed through the same account. You would also need to intimate your Bank branch for the required change in employer mapping with the Bank.

Can I save my money in salary account?

Salary account There is no minimum balance requirement. It can help you pay utility bills, transfer money, withdraw, and so on. Plus, most banks offer debit and credit cards which can be used while shopping as well as earn reward points, get discounts, cash-backs and much more!

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 account is a real account?

Salary account is an expense account and is a nominal account.

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.

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