Your take-home salary is the total of your primary salary, deductions, additional allowances, etc. Other terms like gross salary, CTC or Cumulative Cost to Company, and net salary get linked to it. Hence, it is necessary to understand them and how they impact your income. The foundation of your salary is the basic amount you receive from the company.

The most common requirement while joining a new organization or company is to open a Salary Account to credit the monthly salary. Even though opening an account may be a compulsion, one cannot ignore its benefits:
Zero Balance Account

All banks offer Zero Balance Account facilities to customers. Companies open one for their employees and credit their monthly income to it. It means you do not need to maintain a minimum balance in the account and withdraw as much money as available.

Debit and Credit Card

The Debit Card issued during Bank Account opening comes with several benefits like cashback, rewards, seamless funds transfers, etc. You can use it at ATMs for withdrawal or POS machines to pay cashlessly. You also get a Credit Card with some account types where you buy instantly and pay the bank later.

No additional charges

Without paying additional charges, you get a passbook, chequebook, and e-statement on your email. You can check your balance and pay money by signing cheques from the account. However, you need to pay for a new passbook and chequebook in the future.

Access to Internet Banking

In this day and age, accessing money through the internet has become necessary. All Salary Accounts offer the facility of internet banking to the account holders. You can track your credits, debits, and other investments through the banking website or app. Remain carefree about fund safety as banks follow advanced security measures.

Cash withdrawal

You can avail the benefit of free ATM cash withdrawals. However, the numbers may differ based on the bank and type of Salary Account. Usually, you are allowed up to three free withdrawals from the ATM every month.
Phone Banking

You can use Phone Banking and other facilities offered by banks to enjoy a seamless and hassle-free banking experience.

Funds transfer

You can transfer funds to your family directly without visiting the bank branch using internet banking services. Log on to the portal, enter the beneficiary and transfer amount details, and transfer the money. You receive all the transaction-related notifications through SMS and email.

Loan and Insurance

You can avail of different Loans and buy Insurance covers offered by the bank for air travel, accidental death, Insurance against fraudulent transactions through Debit Cards, fire, burglary, etc.