Which is best salary account in India? Where to open salary account for getting maximum benefits? This is common question bugging individual while joining and changing job. Let’s try to get answer to these questions. Suppose your employer gives you the freedom to select salary account which features you consider and why? Well, here are some features which I feel important for the selection of salary account in India.
Features for the selection of Best Salary Accounts in India
- Customer Support – The first thing you should consider is customer support. The bank should be extremely well in terms of customer support.
- Internet Enablement – Internet banking and mobile apps are desirable features while opening salary account.
- Interest rate – You should also look at interest rate offered by the bank on the salary account. Some banks provide high-interest rates. You can consider that banks for opening salary account.
- ATM Facility – ATM debit card is provided by almost all banks, what you need to check is ATM withdrawal charges and ATM network size.
- Security – Information security is highly ignored at many banks. You should evaluate bank from the perspective of Information security CCTV Camera and other advanced security system.
- Additional Facilities – You can also evaluate bank on the additional facilities such as credit card, special rate personal, home, auto loan etc.
- Rewards – Few bank offers additional reward points and accidental insurance benefits evaluate salary account on this front.
5 Best Salary Accounts in India
Based on features discussed above 5 Best Salary Accounts in India are given below.
HDFC Regular Salary Account
HDFC offers five types of salary account namely premium salary account, regular salary account, defence salary account, salary family account and classic salary account. HDFC regular salary account is best in the category.
Features of HDFC Regular Salary Account
- Free Personal Accidental Death Cover of Rs.1 lakh
- Free Air Accidental Death Cover of Rs.5 lakhs
- 5% savings on your everyday spend on partner merchants
- Free International Rewards Debit Card with higher limits
- Zero Fuel charge
- Free access to other bank ATMs in India
- Free Phone banking, Internet banking, and Mobile Banking
ICICI Salary Account
ICICI bank provides exceptional features and personalized services to the customer. ICICI bank salary account is known as corporate salary account. The feature and benefits detail of ICICI Salary Account is given below.
- Convenience of Internet and phone banking
- Large ATM network
- Zero Balance facility
- Option of selecting account number
- Earn reward points on transactions
SBI Salary Account
SBI offers multiple types of salary account. The salary account facility differs based on salary range and organization where you are working. The features and benefit details of SBI Salary account is given below.
- Complimentary Personal Accident Insurance (Death) cover up to Rs. 20 Lakhs.
- Complimentary Air Accident Insurance (Death) cover up to Rs. 30 Lakhs.
- Up to 25% off on locker charges
- Free issuance of Drafts, Multi City Cheques, SMS Alerts. Free online NEFT/RTGS.
- Overdraft equivalent to 2 Months Net Salary for selected customers.
Axis bank Salary Account
Axis bank offers salary accounts like easy access salary account, priority salary account, defence salary account etc. Features offered by easy access salary account is given below.
- Personal accident cover up to 2 Lakh
- Dining Delights Program
- One, free, multicity at par chequebook per quarter
- High daily withdrawal and shopping limit
- Reward points on spending
Kotak Salary Account
Kotak Mahindra bank offers four types of salary account namely Platina Salary account, Ace Salary account, Neo Salary Account and Edge Salary account. Details of Platina Salary account is given below.
- Zero balance salary account
- Earn up to 6% interest p.a. on your account balance
- Sweep in Sweep out facility
- Personal Accident benefit up to 1 Lakh
- Personal loan facility
- Auto payment option for utility bills
- Fuel surcharge waiver
Over to you –
Each bank has different offers based on the type of customer. You should compare the offers provided by different banks before opening salary account with the bank.