Quick Answer: How Can I Convert My HDFC Account To Salary Account?

What is the difference between salary account and normal account?

While a Salary Account is usually opened with the purpose of an employer crediting the salary to the employee, a Savings Account is opened to deposit money for the purpose of holding or saving it with the bank.

Both Savings and Salary Accounts can be opened as an Insta Account..

Which bank is better for salary account?

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.

Which type of account is salary?

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. Who can open a Salary Account? A business (employer) has to tie-up with a bank to open Salary Accounts for its employees.

Is salary account a real account?

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

How can I convert my saving 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 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 I deposit cash in salary account?

Yes, you can deposit money in your salary account maintained with the HDFC Bank. You can use the account as a regular account for typical banking transactions. The account can also be used to withdraw the money either from the bank’s branches or ATM’s or using net banking services.

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. …

What is the minimum balance in HDFC?

Rs. 10,000To maintain HDFC Bank Savings account, you require a minimum balance of Rs. 10,000 for metro Urban branches Rs. 5,000 For Semi Urban branches Rs. 2,500 for Rural branches is required to open a Savings Regular Account.

Can I change my salary account to another bank?

One can have salary account in any bank of his choice as banks have migrated to CBS and linked through RBI for interbank fund transfer mechanism like NEFT/RTGS. … Now banks have introduced IMPS interbank transfer which makes transfer instantaneous. The employee can make a choice where to keep his salary account.

How can I change my HDFC account to salary account?

Download HDFC Bank Mobile Banking App through play store and do not log in to the App.Just click on “. . . More” and then select “Salary Account Services”Click on “Update Employer Details” and.After entering all the details click on Generate OTP. … In order to convert your Savings account into a Salary accou.

Can savings account be used as 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.