what is salary account in HDFC bank? EXPLAINED
An employer opens a salary account in order to credit employees’ monthly salaries directly into it, making the process easier for both employee and bank. A salary account offers many advantages to both parties involved – not least keeping track of each employee’s expenses more easily!
Salary accounts make payments simple. One can use them to cover utilities, loans and purchases of goods and services; account holders can even deposit and withdraw cash at ATMs – though certain banks limit how often this occurs.
The bank will give you a debit card that allows you to access the funds in your salary account without needing to carry cash around with you. Furthermore, this card can be used for shopping online with special discounts and offers on travel, food, and activities like biking or hiking – not forgetting HDFC ATMs that do not charge fees!Open a sallaryaccount to put your funds in an easier, safer place – then you can use it for checks, automatic payments and more – such as writing checks or sending payments automatically. Doing this can help you save money for the future as you build a nest egg and earn interest on your savings balance!
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What Is A Salary Account at HDFC Bank?
A Salary Account is an account opened by companies for employees to receive their paychecks in. Employers usually choose one bank as the administrator for this type of account; once selected, this bank offers various perks such as debit card usage and other features which attract potential new account holders. These perks often make the decision easy!HDFC Bank provides various salary accounts designed to meet various employee needs. One such salary account, the Classic salary account, caters specifically to employees in private corporations and government-related organizations and has zero balance requirements along with free passbooks and statements of account. This account offers easy money transfers via NEFT and RTGS, making money transfer easier between accounts in India and across borders. Plus, there’s the added benefit of receiving a complimentary Millennia debit card and increased daily ATM withdrawal limits! Interested applicants can apply online by providing their phone number, Aadhaar number and PAN. There are reimbursement accounts available as well for people not employed at companies with salary accounts with HDFC.