Quick Answer: How Much Amount Can Be Deposited In Salary Account?

Which salary account is best?

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..

Can salary account save money?

Bank employees are the only individuals who cannot deposit cash in their respective Salary Accounts. The purpose behind this is preserving transparency in the bank’s business. However, they can open a separate Savings Account in their own bank or a different bank for depositing cash.

Can I change my saving 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.

What is the benefit of salary account?

However, there are certain common benefits that come with a Salary Account – zero minimum balance, free cheque book / passbook / e-statements, Debit Cards, NetBanking, Phone Banking, online fund transfer, Demat Account/services, loan conveniences, Credit Card offers, utility bill payments, etc.

Can I convert my SBI saving account to salary account?

Can it be converted to Salary account? Yes. Existing saving account with SBI can also be converted to CSP account. … Four variants, namely Silver, Gold, Diamond and Platinum are available, depending on the level of the employee’s gross monthly salary or Rank/ Designation of the employee.

Which bank is best for salary account for TCS?

Exclusive Offers for TCS employeesUnlimited access to 12,000+ Axis Bank ATMs and 3700+ branches.Free withdrawals from any bank ATM across the country.Free Online NEFT transactions.

Can I deposit 5 lakhs in my account?

Individuals who deposit cash above Rs. 2.5 lakh and senior citizens who deposit cash above Rs. 5 lakh may be scrutinised. Any amount within the specified limit will be excluded from scrutiny considering that the money is from household savings, cash withdrawals, earlier income, and so on.

How much money can be deposited in a savings account in India?

Here customer should note that, deposits of up to Rs 2 lakh is free per account per month in home branches. However, cash deposit up to Rs 25,000 per day can be deposited in non-home branch, but beyond this limit there is Rs 5 per thousand charged subject to minimum Rs 150.

How can I save my salary wisely?

1. MAKE A BUDGET & START SAVINGMAKE A BUDGET & START SAVING. … MAKE A BUDGET & START SAVING. … FRAME YOUR FINANCIAL GOALS. … FRAME YOUR FINANCIAL GOALS. … INVEST IN RIGHT INSTRUMENTS. … INVEST IN RIGHT INSTRUMENTS. … MAXIMISE TAX SAVINGS. … MAXIMISE TAX SAVINGS.More items…•

Can I deposit 3 lakh in saving account?

If you are an individual owning a proprietary business and have deposited, for instance, Rs 3 lakh in the denomination of scrapped currency notes in your account after demonetisation, you can declare in your tax return for the assessment year 2017-18 that the amount is part of your past savings.

How much money we can deposit in HDFC salary account?

Regular Salary AccountDescription of ChargesRegular Salary AccountDemand Drafts- Issued – On Non HDFC Bank LocationsRs. 50 plus charges as outlined below: Upto Rs. 500 Rs. 10 Above Rs. 500 to Rs. 1000 Rs. 15 Above Rs. 1000 to Rs. 5000 Rs. 25 Above Rs. 5000 to Rs. 10,000 Rs. 30 Above Rs. 10,000 Rs. 5 per 100012 more rows

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 we deposit 1 crore bank?

If FD interest rate is 6%, then you get Rs 6 lakh on a fixed deposit of Rs 1 crore in a year. This means you get a monthly interest of Rs 50,000. If FD interest rate is 6.5%, then you get Rs 6.5 lakh on a fixed deposit of Rs 1 crore in a year. This means you get a monthly interest of Rs 54,167.

Can we deposit amount in salary account?

Yes,deposits can be made in salary account. The bank won’t deny it, if your account is credited with some amount other than your monthly salary. If need arises,you should be able to justify the source of income/deposits i.e. whether you have earned it from somewhere or the money has been gifted by someone.

How much amount can be deposited in saving account?

If the cash deposits exceed this limit, the bank or post office will automatically report it to the tax department. “Cash deposits of over Rs 2.5 lakh will reflect in your Form 26AS and you will be asked to explain the source of the cash,” says Gupta.

Does salary account have interest?

As the name says, a salary account is basically opened by your employer to credit your salary. However, the amount maintained in the account, will not be entitled for interest rate. …

Which salary account is best in HDFC?

HDFC Bank offers several types of Salary Accounts suited for different sectors and needs.Premium Salary Account: For select corporates as priority service. … Regular Salary Account: Debit card hero! … Defense Salary Account: Especially made for defense personnel. … Classic Salary Account: Comes with better security features.More items…

How do you check whether my account is salary account or not in HDFC?

Salary accounts are almost always savings bank account. You can check this by looking at your pass book or approaching the branch where you opened the account. If you have net banking enabled you can log in into it and check the profile or basic details or account information section to know its nature.