How Can I Convert My SBI Account To Salary 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..

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.

Who opens a salary account?

Open a Salary Account in 3 easy steps. 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.

Can bank employees see your accounts?

Unless a teller had access to your personal identification information, then they wouldn’t be able to look up your account information. There are, however, employees in a bank who’s line of work involves your bank balances and information. … Also, banks keep very close track on who views an account.

What is the difference between salary account and current account?

One important difference to know, apart from the above is that a salary account may entitle you to an easier loan, as well as credit cards….Savings Account.Salary accountSavings accountPurposeCredit of salaryTo encourage SavingsMinimum BalanceNo Minimum BalanceMinimum Balance Required3 more rows•Feb 28, 2020

Can we convert savings account to salary account?

On the other hand, if your bank permits, you can convert your Savings Account to your Salary Account. This is possible if you change your job, and your new employer happens to have a banking relationship with the same bank for its employees’ Salary Accounts.

Can I open SBI salary account online?

State Bank of India or SBI offers the facility of opening a salary package account, which is a special savings account offered to salaried customers. According to SBI’s website- sbi.co.in, a salary package account is a zero balance 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.

Which type of account is salary?

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.

What is the benefit of SBI salary account?

Benefits of SBI salary account The main benefits of the salary account are – Zero balance account and free unlimited transactions across ATMs of any bank, free ATM-cum-debit card, an additional ATM card for the joint account holder, free Internet banking, free multicity cheques etc.

Is salary account and savings account same?

Savings account is an account where individuals keep their savings. Salary account is a type of saving account where you salary gets credited. Usually a bank will offer more benefits to a salary account because it is a fixed source of CASA. … more benefits would be like- zero balance account etc.

Can I convert my SBI account to zero balance account?

SBI gives its customers the option to convert their existing savings accounts to BSBD account, free of cost. 3) There is no minimum balance requirement nor any upper limit. 4) This SBI zero-balance account can be opened by any individual provided he/she has valid KYC documents.

What is overdraft against salary?

Ans: Salary Overdraft is an overdraft feature that is extended against the salary account of the account holders. This facility enables the salaried account holders to withdraw amount or issue cheques even if their account balance is zero.

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!

How can I know my SBI account category?

How to check account type in SBI’s website ? This simple step just a click after you log-into your account using login id and password. After logging into the SBI’s website hover over to the My Accounts &Profile followed by, Account statement, click the button to view the statement and the account type there.

Is salary account is a real account?

Salary account is an expense account and is a nominal account.

What type of expense is salary?

Salaries Expense will usually be an operating expense (as opposed to a nonoperating expense). Depending on the function performed by the salaried employee, Salaries Expense could be classified as an administrative expense or as a selling expense.

What is minimum balance in SBI?

In March this year, SBI had announced that it will waive charges for non-maintenance of average monthly balance (AMB) for all savings bank accounts. Earlier, SBI savings bank customers had to maintain average monthly balance of ₹3000, ₹2000 and ₹1000 in metro, semi urban and rural areas respectively.

What is salary package account in SBI?

Salary Package account is a special savings account offered to salaried customers which provide unique benefits and services, as well as seamless access to the most advanced and secure Net Banking and Mobile Banking services. For more details, please visit Salary Account.