Question: Can We Deposit Amount In Salary Account?

Does salary account have minimum balance?

Salary Accounts usually don’t come with a minimum balance requirement, while banks require that you maintain a certain amount of minimum balance in your Savings Account.

If you open an Insta Saving Account, you can use even the Saving Account without requiring a minimum balance for up to a year..

Does salary account have interest?

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. …

Can I convert saving account to salary account?

It depends on the bank and you can apply to convert your Savings Account to your Salary Account. This is possible when you change your job, and you’re the organization happens to have a banking relationship with the same bank for its employees’ Salary Accounts.

Can I convert my SBI saving account to salary account?

Can it be converted to Salary account? Yes. Existing saving account with SBI can also be converted to CSP account. … Four variants, namely Silver, Gold, Diamond and Platinum are available, depending on the level of the employee’s gross monthly salary or Rank/ Designation of the employee.

How much amount can be deposited in salary account?

You can deposit money in your salary account. If the amount you deposit is more than Rs. 50,000/— the bank may ask your PAN No. Salary account is like savings account.

How much money we can deposit in HDFC salary account?

Regular Salary AccountDescription of ChargesRegular Salary AccountDemand Drafts- Issued – On Non HDFC Bank LocationsRs. 50 plus charges as outlined below: Upto Rs. 500 Rs. 10 Above Rs. 500 to Rs. 1000 Rs. 15 Above Rs. 1000 to Rs. 5000 Rs. 25 Above Rs. 5000 to Rs. 10,000 Rs. 30 Above Rs. 10,000 Rs. 5 per 100012 more rows

What is the difference between current account and salary account?

A savings account is most suitable for people who are salaried employees or have a monthly income, whereas, Current Accounts work best for traders and entrepreneurs who need to access their accounts frequently. Savings accounts earn interest at a rate of around 4%, while there is no such earning from a Current Account.

How do you check whether my account is salary account or not in HDFC?

Salary accounts are almost always savings bank account. You can check this by looking at your pass book or approaching the branch where you opened the account. If you have net banking enabled you can log in into it and check the profile or basic details or account information section to know its nature.

Which bank is best for salary account for TCS?

Exclusive Offers for TCS employeesUnlimited access to 12,000+ Axis Bank ATMs and 3700+ branches.Free withdrawals from any bank ATM across the country.Free Online NEFT transactions.

Is salary account a savings account?

By definition, a Salary Account is a type of Savings Account, in which the employer of the account holder deposits a fixed amount of money as ‘salary’ every month.

Can we change salary account?

If a salary account gets converted into a savings account, the account holder has to pay any non-maintenance charges that are applicable. You also lose benefits that are associated with a salary account such as zero-balance maintenance, no annual fee or joining fee on debit cards, and others.

Which salary account is best?

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.

What are the benefits of 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.

What will happens to salary account after resignation?

However, as the higher benefits are offered on the basis of the salary account, banks convert salary accounts into regular savings accounts when the employees quit their jobs. On conversion, the charges schedule and average monthly balance requirement of regular savings account comes into effect.