Best Salary Bank Accounts

August 29, 2016 Finance Talk Valli Sarvani No comments

Every working individual will have a salary account for their salary to be credited into. Companies normally have a tie-up with certain banks to deposit salaries for their employees. Various salary accounts have various features based on the employee’s salary. Many major private banks such as HDFC bank offer different salary accounts that have various benefits and features.

Similarly, the loan offers, debit card and credit card also differ. Here are certain banks that offer good benefits for salary accounts of employees in India.

HDFC salary account offers a free personal accidental death cover of Rs.1 lakh on salary account. It offers zero balance for premium salary accounts. A Salary Family Account can also be there for the family members of the employee.

Axis bank also offers a different salary account based on the monthly income of employees. A relationship manager is dedicated to serve the banking needs of priority account holders. Preferential treatment will also be given to them at branches or Phone Banking Centres.

ICICI salary account allows account holders to get free remittance of up to Rs.25,000. This is available on ICICI bank network for pay orders, cheques and demand draft. NPS services are also offered by this bank for their corporate customers. Zero liability protection facility is also there on Debit card when the card is lost for up to Rs.2 lakhs.

Citi Bank salary account holders can get overdraft up to 5 times of their net monthly salary. They can redeem reward points for cash as well. Eligible account holders will be given personal loan and home loan at preferential pricing.

SBI provides customized services as special packages for big companies or institutions according to their business relation with the bank. Home loans, auto loans, other loans are given to them as well.
Kotak has an extensive network. The salary account holders can earn higher interest rate on funds that are idle in a savings account with their auto Sweep-In or Sweep-Out facility. Lost card liability insurance facility of Rs.2 lakhs is also offered by the bank. Home loans and personal loans are given at good interest rates and at a reduced processing fee.

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