Banking · Salaried

Salary Accounts

Zero-balance variant of savings accounts, opened by employers in bulk. Free debit card, sweep-in FD, dedicated demat account opening, often free credit card. The catch: if salary stops crediting for 3 months, account converts to regular savings + AMB penalty kicks in.

Who needs this

Every salaried Indian. Choose the bank where your employer disburses; if you switch jobs, request continuation in writing.

Key decisions

Q1
Should I keep the salary account after switching jobs?
Yes — request 'salary account continuation' in writing within 90 days of new employment. Avoids AMB conversion. Otherwise switch to a high-interest SFB savings.
Q2
Premium / Privilege variants — worth upgrading?
Yes if salary > ₹1L/month. Priority service + free credit card + premium lounge access + lower forex markup. ICICI Wealth, HDFC Imperia, Axis Burgundy are top tier.
Q3
Sweep-in FD — auto-enable?
Yes — most salary accounts auto-sweep above ₹25K-50K. 7-day FD earns 5-6% vs 2.7% savings. Free liquidity.
Q4
Dedicated demat / DP charges?
Salary-linked demat often comes free of AMC for first year. Worth opening alongside salary account, even if you don't trade immediately.

Top picks

Source: bank disclosures + RBI rate notifications · refreshed monthly

ICICI Bank Wealth
Premium-tier salary, dedicated RM, lounge access, ₹1L+ salary.
3.00%
p.a.
HDFC Bank Imperia
Top private bank salary tier, ₹1.5L+ salary.
3.00%
p.a.
Axis Bank Burgundy
Wealth-management integrated, ₹2L+ salary.
3.00%
p.a.
SBI Salary Privilege
PSU bank salary — biggest network, conservative service.
2.70%
p.a.
Kotak Privy League
Higher interest + strong app + free first-year demat.
4.00%
p.a.

RBI rules + scheme specifics

Salary account = zero AMB while salary credits monthly.
If salary doesn't credit for 3 months, account converts to regular savings + AMB rules apply.
Privilege banking tier requires salary > ₹1-2L/month + maintained over 90 days.
Dedicated RM service is contractual — get the SLA in writing for premium tiers.