Know the Beneficial Salary Account Features

Banks offer different account types to satisfy your needs. If you browse through the categories, you find unique benefits. They may include higher interest, value-added services, minimal balance maintenance, etc. You must understand what works for you to make the proper selection. Moreover, consider the eligibility and opening procedure for the same. While most accounts get opened by the account holder, some are exceptional services. 

Salary Account comes under the latter category. It is a financial product for salaried individuals. As you join an organisation, the employer opens the account for you. It is used explicitly for crediting your monthly salary. As a fixed amount is expected every month, banks favor this account type and offer value-added features. These are relatively beneficial than a Regular Savings Account:

Preferential Facilities

Although not drastic, you get preferential treatment in enjoying the services. They include easy availability of banking cards, Loans, overdraft facilities, ATM withdrawals, etc. You incur lower costs on the same compared to Savings Account. Banks also provide additional services depending on their policy. Check their portal and learn about the offers and terms. 

Zero Balance

This is the biggest aspect that sets this account type from others. The Zero Balance Savings Account lets you maintain your funds without worrying about the minimum balance. The flexibility is meant for account holders to freely extend the usage of funds. It is best to take advantage of the same by making sound financial decisions. However, this feature is available until you stay employed with the organisation. 


You cease to enjoy the benefits when you are no longer employed. Technically, this happens when no salary gets credited for three consecutive months. The bank converts the account into a Regular Savings Account. Consequently, you lose the benefits associated with it. Alternately, you can operate the account with distinct rules than closing it. 

Loan Accessibility

Earning individuals get immediate access to Loans due to stable income. Banks facilitate the same by giving you a wide range of options. Whether you want to buy a home, car, or cater to expenses, there is a credit facility for every need. The Salary Account makes the documentation process for availing of them easier. Lenders evaluate your income details better when you give them your Salary Bank Account statements. 

Premium Investment Services

The only way to utilize your income wisely is to let it grow. The Account facilitates this as it links with Demat Account. You may use it to invest in Mutual Funds, Government Bonds, Fixed Deposits, Insurance products, etc. 

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