May 20, 2024

Salary Account

Salary savings accounts are for salaried people, as the name indicates. In most cases, companies set up a salary savings account for their employees. You receive the advantage of no-minimum balance requirement in addition to the primary benefits of savings accounts. If no pay is credited to the accounts for three months in a row, the accounts are immediately converted to Regular savings accounts. The accounts will be subject to a minimum balance requirement in this scenario.