Is Current Account And Salary Account Same?

Does salary account have minimum balance?

Salary account There is no minimum balance requirement.

It can help you pay utility bills, transfer money, withdraw, and so on.

Plus, most banks offer debit and credit cards which can be used while shopping as well as earn reward points, get discounts, cash-backs and much more!.

Is salary account safe?

The answer is : YES. Having more than 1 account is always advisable. … If you keep all your money in Salary account, which is having a Debit card and Internet banking facility, there is very high chance of spending more money. So to keep unnecessary expenses in check, you should have more than 1 account.

Can I have 2 current accounts?

A lot of people seem to think you can only have one bank account at a time. But you can actually have multiple current accounts with various banks. Having more than one bank account should not affect your credit score, unless you try to open loads of new ones in a very short space of time.

What if salary account is not closed?

If you are planning for a new salary account, it is better to close the account or maintain AQB as per bank guidelines. … If there is no transaction in account for two years, other than interest credit in savings/current account, the bank will classify it as dormant or inoperative account.

How do you check whether my account is salary account or not in HDFC?

Salary accounts are almost always savings bank account. You can check this by looking at your pass book or approaching the branch where you opened the account. If you have net banking enabled you can log in into it and check the profile or basic details or account information section to know its nature.

How can I convert my Icici account to salary account?

In case the salary is not getting credited from new employer, you may visit the nearest ICICI Bank branch along with the letter from your new company Human Resource (HR), stating that your salary is getting credited to this account and get it duly stamped from your HR along with the latest pay slip and photo ID proof …

Can money be deposited 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.

What is the minimum balance for Icici salary account?

Rs. 5000Types of ICICI Bank Salary AccountsStandard Salary AccountFeaturesMinimum Balance RequirementsRs. 5000ATM Debit CardFor cities: Rs.150 p.a. For rural: Rs.99 p.a.Transaction charges at ICICI bank ATMsZeroCheque bookFreeOct 6, 2020

Is salary account a current account?

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 and saving account same?

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.

Which bank account is best 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.Citibank Suvidha Salary Account.Axis Bank Prime Salary Account.

Does salary account give 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. …

Who can open salary account?

Salary Accounts can only be opened when an employer ties up with a bank. With this tie-up, the employer can transfer the monthly salaries in bulk in respective Salary Accounts of the employees.