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How To Find Best Options to Open a Salary Account in India

A bank account in which your employer credits your salary every month, is called the salary account. However, if you are a working professional with a fixed monthly salary, then you must have a salary account. You would also be aware of all the characteristics of the salary account. Generally, banks open salary accounts for a number of employees together with having tie ups with the organisations. Along with that, the salary is also credited in those accounts on specific dates that are selected by the organisation. The organisation transfers the amount directly to the bank, and then is distributed among the employees salary account as per their respective salaries. Moreover, you can even open a salary account by yourself by simply providing the proof of your employment and other identity proof documents. However, selecting which bank is best for salary account can be a tough decision.

List of Salary Accounts

There are numerous banks available in India where you can open a salary account. Below is a list of a few best banks available in India where you can open your salary account:

Salary Account by HDFC Bank

You can open your salary account with HDFC Bank, also you can even open a salary family account for your family members. HDFC premium salary accounts even offer you the facility of maintaining zero balance in your salary account. HDFC Bank also offers a personal accidental death cover of INR 1 lakh with their salary account, without any additional charge. Moreover, the zero balance feature sets it apart from the rest of the salary accounts in the Indian market.

ICICI Salary Account

ICICI Bank being registered with PFRDA offers NPS services to its corporate customers. You can also avail a zero liability protection on losing your debit card. The amount for this can be up to INR 2 lakh. If you choose to open an ICICI salary account, then you can avail free remittance for DD, cheque facility and money orders for up to INR 25000.

SBI Salary Account

SBI salary accounts are generally opened by organisations that have a good relationship with the bank. However, if you have a SBI salary account then there are a number of benefits that you can take advantage of. Whether you wish to apply for a home loan or a personal loan or any other loan, having a SBI salary account can make the process easier for you.

Salary Account by Bank of India

With features like zero transaction charges, no minimum balance requirement, international debit cards at no additional costs, telebanking and various other services, Bank of India salary account is one of the best salary accounts in India. Accident insurance coverage of up to INR 1 lakh. Also, the bank offers an overdraft facility of up to 4 times your salary amount. Bank of India provides numerous benefits to the account holder.

Suvidha Salary Account by Citibank

If you have a Suvidha salary account with Citibank, then you must be aware of the benefits that come along with this account. The bank offers various reward points that can be redeemed for cash allowances. Moreover, account holders can avail the overdraft facility that is 5 times the net salary of the account holder. Citibank specially offers the Suvidha salary account which offers some of the most unique features as compared to other salary accounts.The above are the best bank options that are available where you can open your salary account and avail benefits associated with them. Just like a saving account interest rate, you can also earn interest on your salary account. However, this facility might vary from one bank to another. Therefore, it is advisable to check this facility before opening a salary account.

Read Also: How to Link Aadhaar Card with PAN Card?

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