Question: What Is The Benefit Of SBI Salary Account?

Is it safe to keep money in salary account?

The answer is : YES.

Having more than 1 account is always advisable.

If you keep all your money in Salary account, which is having a Debit card and Internet banking facility, there is very high chance of spending more money.

So to keep unnecessary expenses in check, you should have more than 1 account..

Who opens a salary account?

Open a Salary Account in 3 easy steps. Salary Accounts can only be opened when an employer ties up with a bank. With this tie-up, the employer can transfer the monthly salaries in bulk in respective Salary Accounts of the employees.

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 salary account in SBI?

Salary Package account is a special savings account offered to salaried customers which provide unique benefits and services, as well as seamless access to the most advanced and secure Net Banking and Mobile Banking services. For more details, please visit Salary Account.

What is the minimum balance for SBI salary account?

It added that the charges on maintaining AMB are now waived off on all 44.51 crore SBI savings bank accounts. Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas.

Which account is best for salary?

The following is the list of best 5 salary accounts available in India:Kotak Platina Salary Account.SBI Corporate Salary Package.HDFC Bank Classic Salary Account.Citibank Suvidha Salary Account.Axis Bank Prime Salary Account.

Is interest paid on salary account?

In the savings account, if you fail to maintain minimum balance, then you will be charged with fee or penalty. This depends on the type of account and bank….Savings Account.Salary accountSavings accountInterest ratesNo Interest paid4%-6% interest is paid4 more rows•Feb 28, 2020

Can I convert my salary account to zero balance account?

Can I convert my salary account to zero balance savings account? … Also, you would be unable to convert your existing account to a zero balance account. We would advise you to convert the existing salary account to general savings account, with a monthly average balance to be maintained at minimum of Rs.

Can we have 2 salary accounts?

However, if you are asked to open an account with a different bank at your new workplace, you must choose between closing the previous salary account and maintaining the minimum required balance. Weigh your needs for multiple accounts and act accordingly.

Can I deposit cash in salary account?

Yes,deposits can be made in salary account. The bank won’t deny it, if your account is credited with some amount other than your monthly salary. If need arises,you should be able to justify the source of income/deposits i.e. whether you have earned it from somewhere or the money has been gifted by someone.

Can I change my saving account to salary account?

On the other hand, if your bank permits, you can convert your Savings Account to your Salary Account. This is possible if you change your job, and your new employer happens to have a banking relationship with the same bank for its employees’ Salary Accounts.

Which bank is best for Defence salary account?

HDFC BankCatering specifically to defence personnel in the country, HDFC Bank has rolled out the Defence Salary Account. The HDFC Bank Defence Salary Account is a zero balance savings account that comes with the benefit of a free Personal Accidental Death cover upto Rs. 5 lakh and an Air Accidental Cover upto Rs.