Get salary accounts for your team See benefits
Get salary accounts for your team See benefits
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ToggleA salary account is a type of bank account where your salary is directly deposited by your employer. Typically, companies set up these accounts in bulk with a bank, allowing employees to receive their salaries on a specific date. The employer decides when to transfer the funds to the bank, which then distributes the salary to each employee’s account.
In some cases, banks may let you open a salary account on your own. If you want to do this, you’ll usually need to show proof of employment or get your employer’s approval. This account helps you manage your money and makes it easier to access your salary right when you need it.
Almost all banks have a salary account facility, but you can’t cruise over their websites to compare and find the best bank to open a salary account. So, to ease the grind, we have done it for you! The best bank for salary account in India is:
Bank Name | Account Type | Average Monthly Balance | ATM withdrawal Limit |
Jupiter App (Powered by Federal Bank) | Pro Salary Account | Zero Balance | ₹25,000 |
RBL Bank | Executive Plus Salary Account | Zero Balance | ₹50,000 |
IDFC First Bank | Savings Plus Salary Account | Zero Balance | ₹200000 |
Axis Bank | Easy Access Salary Account | Zero Balance | ₹40,000 |
ICICI Bank | Premium Salary Accounts | Zero Balance | ₹40,000 |
HDFC Bank | Corporate Salary Account | Zero Balance | ₹40,000 |
SBI | Corporate Salary Account | Zero Balance | ₹40,000 |
Bank of Baroda | BOB Salary Classic Account | Zero Balance | ₹25,000 |
PNB | PNB Salary Account | Zero Balance | ₹25,000 |
Citibank | Suvidha Salary Account | Zero Balance | ₹100000 |
Kotak Mahindra Bank | Platina Salary Account | Zero Balance | ₹300000 |
UCO Bank | Suvidha Salary Account | Zero Balance | ₹25,000 |
IndusInd Bank | Corporate Salary Account | Zero Balance | ₹50,000 |
Yes Bank | Platinum Salary Account | Zero Balance | ₹50,000 |
Union Bank of India | Classic Salary Account | Zero Balance | ₹75000 |
Jupiter holds the whip hand here. Salary Account on the Jupiter App, has countless stunning features to help you keep up with the contemporary world. For Jupiter, the Savings Account and VISA Debit Card are provided by Federal Bank, which is an RBI-licensed bank.
Features and Benefits:
Know more about one of the best salary accounts from Jupiter here. You can open salary account online by installing the Jupiter app and following the steps are directed on the app.
RBL simplifies your banking needs and salary payments with their zero-balance salary account with minimal charges and competitive interest rates. As an employee with a salary account in the RBL Bank, you’ll get to enjoy no cost on SMS banking, mobile, and internet.
Features and Benefits:
This is a zero-balance salary account where employees enjoy up to ₹34,500 worth of benefits, including deals on dining, medical vouchers, insurance coverage, shopping coupons, and more.
Types of Salary Accounts: Corporate Salary Account
Features and Benefits:
There are several types of salary accounts offered by Axis Bank, depending on the benefits and features offered by each. They also differ on your type of debit card, withdrawal and shopping limit, and more.
Types of Salary Accounts:
Features and Benefits:
ICICI bank has a zero-balance salary account with no additional cost on debit cards and easy salary disbursal NEFT, online or via statement. You can enjoy a PPF account, phone banking, fund transfer, and more benefits.
Types of Salary Accounts:
Features and Benefits:
Enjoy the modern benefits of a salary account, like free phone banking and SMS banking and great customer service with HDFC’s Salary Account.
Types of Salary Accounts:
Features and Benefits:
Get a salary account for every sector of society with SBI’s salary accounts that are easy to open and manage. This zero-balance account has the facility to get personal loans, like auto loans, home loans, and more.
Types of Salary Accounts:
Features and Benefits:
Targeted at different professionals, a BOB Salary Account offers several attractive benefits and a zero-balance account.
Types of Salary Accounts:
Features and Benefits:
This zero-balance salary account can be opened by the government, PSU, MNCs, corporates, and educational institution employees.
Types of Salary Accounts:
Features and Benefits:
With Citibank’s Suvidha Salary Account, you can enjoy a zero-balance salary account, debit card, mobile banking, and more such benefits offered at competitive interest rates.
Features and Benefits:
Kotak Mahindra Bank offers different types of salary accounts for professionals, each with its own set of benefits. Here are the options:
Features and Benefits:
UCO Bank offers a Suvidha Salary Account, which comes in four levels: Classic, Silver, Gold, and Platinum. Each level has a different salary requirement, and as you move up, you unlock more benefits. Below are some of the key features and advantages of this account:
Features and Benefits:
IndusInd Bank is well-known for offering a variety of lifetime free credit cards, and they also provide several options when it comes to salary accounts. In fact, they offer six types of salary accounts to choose from, which include:
Each of these accounts comes with a range of features and benefits, such as:
Yes Bank offers a wide range of salary account options to suit different types of customers. Some of the most popular choices include:
While the YES VIJAY and Agniveer accounts are specifically for people in the defense forces, the other accounts are available to everyone. They come with various features and benefits like:
Union Bank of India provides three types of salary accounts based on how much you earn each month. These accounts are:
If you earn less than ₹25,000 per month, you can open a Classic Salary Account. For those who want additional benefits, the Premier Salary Account is available, which requires a minimum salary of ₹75,000 per month.
Here are some of the features and benefits offered by these accounts:
Enjoy Multiple Benefits with Your Salary Account
Download Jupiter Now and Open a Salary Account in Minutes
A salary account is mainly for people who get paid regularly by an employer, and the bank sets certain terms and conditions for it. If someone switches jobs, they may need to open a new salary account with their new employer. Also, if the account doesn’t receive salary credits for a while, some banks might convert it into a regular savings account. Here are the key benefits of having a salary account:
There are a lot of salary account benefits which are provided by banks and financial institutions. Let’s look at the factors you should consider when choosing one.
A salary account is an essential service provided to a professional. Employers must consider the top banks while choosing a financial institution for a tie-up. The listicle of leading banks to open a salary account helps you to make the best choice. To pick the most acceptable option and the best bank for salary accounts, you should carefully study factors like interest rates, ATM facilities, and other extra features. Be watchful and save yourself from uncertainties.
As of 2024, the salary account offered through the Jupiter App, backed by Federal Bank, stands out as one of the top options. It features an On-Demand Salary option, allowing you to access your salary whenever you need it, rather than waiting until the end of the month. This can be really helpful for those who want flexibility in managing their finances. Plus, it comes with free health insurance coverage up to ₹2,00,000 and gives you 1% cashback on all your purchases, making it a solid choice for anyone looking for a convenient and rewarding salary account.
When choosing a bank for your salary account, consider factors like the bank's fees, interest rates, accessibility (such as nearby branches and ATMs), and any additional benefits they offer, like insurance or cashback programs. It's also wise to check customer service reviews to ensure you'll get the support you need.
Generally, salary accounts are not taxed directly. However, the interest earned on the balance may be subject to tax, depending on the bank’s policies and your total income. Always check with your bank or a tax advisor for specific information related to your situation.
No, you don’t have to open a salary account with the same bank that your employer uses. You can choose any bank that meets your needs, but it's important to check if your salary can be directly credited to your chosen account.
Yes, you can switch your salary account from one bank to another. Just be sure to update your employer with your new bank details so they can transfer your salary correctly. Additionally, make sure you clear any outstanding fees or requirements with your old bank before making the switch.
Yes, salary accounts are a special type of savings account with extra features. You can use it for personal use.
Yes, most banks offer special features and benefits for salary accounts over savings accounts. This is due to the fact that salary account users will have ‘fixed’ amounts of deposits coming into their account monthly, which in turn benefits the bank.
Priyanka Rao is a content strategist for Jupiter.Money, and specializes in writing on topics related to finance, banking, budgeting, salary & wages, and other financial matters. She has a passion for creating engaging content that resonates with audiences across various digital platforms. In her free time, Priyanka enjoys traveling and reading, which allows her to gain new perspectives and inspiration for her work. With a keen eye for detail and a creative mindset, Priyanka is committed to creating content that connects well with her readers, enhancing their digital experiences.
View all postsColin D'Souza is currently the Vice President of Banking Programs and Strategy at Jupiter Money, where he oversees the development and execution of key banking initiatives. With a strong background in retail banking, sales, and strategy, Colin brings extensive experience in driving business growth and enhancing customer engagement across various financial products and services. Before joining Jupiter, Colin was the Head of Corporate Salary Business at IDFC First Bank, having previously served as the Zonal Business Head for Retail Liabilities & Branch Banking. His leadership at IDFC First Bank focused on expanding the bank’s retail banking footprint and optimizing branch operations. Prior to that, he held senior roles at Citibank India, where he was Vice President and Regional Sales Head, responsible for the sales and distribution of consumer assets and liabilities, including services for high-net-worth individuals (HNI) and ultra-high-net-worth individuals (UHNI), as well as current accounts. Colin also served as Vice President and Regional Sales Manager at HSBC, leading retail liability acquisitions and driving business development for investment and insurance products. Earlier in his career, he managed a cluster of branches at CitiFinancial, where he was responsible for credit, risk, and P&L management. He holds a Post Graduate Diploma in Management from the Institute of Management Education and Research (IMER), adding a solid academic foundation to his professional expertise in banking and strategy.
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