Salary account holders ALERT: 10 benefits and features that you may not know

Salary account holders ALERT: Ten benefits and features that you may not know - Banks in India offers two types of accounts for their customers. First is a Savings bank account, which most of the individuals are aware of. Savings bank account is a regular deposit account, where you earn a minimum rate of interest. Here, the number of transactions you can make each month is capped. 

An individual can open a regular savings accounts for children, senior citizens or women and so many more. 

Salary account

Among the different types of bank accounts, your salary account is the one in which your salary is credited every month by your employer. In fact, this is the same account in which you get salary reimbursements as part of your pay package to save income tax. 

Your salary account is like any regular account where you get the same facilities like cheque book, debit card, net banking and other facilities. However, opening a salary account with a bank has benefits and perks which are usually not offered on a regular savings account. Each Salary Package account offers unique benefits and services to the customers.

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Here are a few benefits available on Salary Account:

Salary reimbursements 

The bank, where you have a salary account, also maintains reimbursement accounts; this is where your allowances and reimbursements are credited to. 

Zero Balance Account

Banks provide zero balance faclitiy on the salary account. If you have zero balance in your account, then the bank will not charge you any kind of penalty. Whereas in a normal savings account it is very important to maintain a minimum balance. Otherwise penalty has to be paid.

Free ATM transactions 

Most of the banks offer free unlimited transactions across ATMs of any bank. This simply means you don't need to worry about how many times you have transacted from ATM in a month. 

Discount on locker charges

Many banks waive waive locker charges on salary accounts. State-run bank SBI gives a discount of upto 25 per cent on locker  charges for salary account holders in SBI. 

Other facilities 

With a salary account, many banks also offer the facility of a Demat account/ services, loan convenience, credit card, etc. You also get the same facilities like cheque book, debit card, net banking and other facilities.

Your salary account comes with a host of other benefits which you may enjoy as per the benefits and features offered by the bank. You can fully utilize these benefits under this salary account like unlimited free transactions though ATM, credit cards which you may not be able to do it with your regular savings bank account. 

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