new Delhi : The salary account is similar to a regular bank account, in which your employer pays your salary every month. If you have a salary account, then you will also know about the benefits that come with it. If you do not know, then there is nothing to be shocked. Because, most of the banks often do not tell about the benefits available on salary account. Many types of offers are available on salary account. Among these, banks also offer Classic Salary Account, Wealth Salary Account, Basic Savings Bank Deposit Account-Salary and Defense Salary Account. Know what are the benefits of salary account …
1. Can open wealth salary account
If you have a lot of money, you can also open a wealth salary account. Under this, the bank gives you a dedicated wealth manager. This manager deals with all the work related to your bank.
2. Employee Benefit
Some banks also provide facilities like giving credit cards to payroll accounts, overdraft, cheap loans, free remittance of checks, pay orders and demand drafts, free internet transactions.
3. Saving Bank Account
If your bank finds that salary has not been coming to your account for some time, then all the facilities you get are withdrawn and your bank account is continued like a normal savings account.
4. Changing Account
To change the account from one bank to another, even in case of salary account, banks keep the process easy. Of course, they do have some conditions in it.
To open a salary account, you must be employed in a corporate body and it is important for your company to have a salary account relationship with that bank. With this, the customer should not have any other account in the same bank.
6. Other facilities
The bank gives you a personalized check book, on which your name is printed on every check. You can avail bill payment facility, otherwise you can make payments through phone or internet. Banks also provide facilities like safe deposit locker, sweep-in, super saver facility, free payable-at-par checkbook, free instalarts, free passbook and free email statement.
7. Zero balance and free ATM usage
The employee is allowed to keep zero quartly balance in the salary account and at the same time this account can also be opened on zero balance. Usually, to open an account with a bank, 1000 rupees have to be deposited. Apart from this, other banks charge for using ATM of ordinary account. According to the new rules, in withdrawing money from the salary account ATM, there is also a facility to withdraw money from another bank 3 times and withdraw money at your branch for free. According to the new rule, this facility is available at a few bank ATMs. For example, small banks like Kotak Mahindra Bank and Federal Bank offer this facility. HDFC and ICICI Bank do not offer free transactions after a fixed limit.