I had explored Salary accounts with different banks for Salary 1L+ / Month. Sharing it here for everyone. Source of this info was mainly websites, some customer care calls and threads on Technofino. Please let me know if I get it wrong anywhere
An valuable comment by @Sreerag reg. different salary accounts - https://www.technofino.in/community/threads/salary-account-recommendation.2676/post-47069
My take on this is that, w.r.t benefits from above salary accounts ---> IndusInd > IDFC > HDFC > Axis > ICICI. (Don't even consider Kotak).
Disclaimer on above order
1. I haven't compared services, as it is subjective and may vary from branch to branch and primarily I didn't experience it.
2. Have ranked IndusInd on top because of interest rate it offers + the debit card benefits.
3. Have added IDFC as second in the list only because of the interest rate it offers. I didn't find it's debit cards rewarding.
| Account | Interest Rate | Debit Card | Credit card offered | Eligibility | Status | Comments | Link |
|---|---|---|---|---|---|---|---|
| IDFC Corporate | <= 10L --> 4% > 10L ---> 7% | Free Platinum Debit Card - but no major benefits | Employer should be in the list | Can get a Select or Wealth Program | https://www.idfcfirstbank.com/personal-banking/accounts/corporate-salary-account | ||
| HDFC Premium | 3% | Free Platinum Debit Card with 750 Rs cashback on credit card bill payment | Provides LTF cards | 1. >= 50k salary 2. Employer tied up with HDFC | Can get a RM with Preferred Status - https://www.hdfcbank.com/personal/save/high-networth-banking/premier-banking/preferred | https://www.hdfcbank.com/personal/save/accounts/salary-accounts/premium-with-platinum-debit-card | |
| ICICI Titanium Privelege | 3% | Free Titanium Debit Card. Not much benefits | Provides LTF Cards | 1. 1L + Salary credit. Not mentioned in website though 2. Employer tie up not needed for salary account but employer needs to be in their lsit for ltf credit cards | Can get privelege status which is below wealth | Service is good according to several reviews compared to other banks | https://www.icicibank.com/personal-banking/accounts/salary-account/titanium-salary-account |
| Kotak Platina | 3.5% | No free debit card | Provides LTF Cards | 1L+ Salary | Charges on SMS and no free debit card. | https://www.kotak.com/en/personal-b...-account/Platina-Salary-Account/features.html | |
| Kotak Creme | 3.5% | Not mentioned but mostly free | Provides White / White Reserve / Zen Credit cards for LTF | Through Corporate eligibility. Maybe employer needs to do some signing up with kotak | Status of Privy League | ||
| Axis Priority | 3% | Free Priority Debit Card - no monetary benefits Just a 25% BMS offer and lounge access | 1. 1L+ Salary 2. Employer not needed | Priority Status | No other charges but has NACH charges of 25 + GST per transacation. Mainly on EMI. Not applicable on MF, bill payments | https://www.axisbank.com/retail/accounts/salary-account/priority-salary-account/eligibility-and-documentation | |
| Indus Comfort Exclusive | <= 1L = 4% > 1L <= 10L = 5% >10L = 6% | Signature Debit card - very good benefits | Indulge/ Pinnacle Credit Card | 1. Salary >= 125k 2. Needs Tie up with Employer ( You may open without employer tie up by following this or open a savings account, keep it for 3 months and ask RM to convert it to salary account) | Dedicated Trained RM and home banking | https://www.indusind.com/in/en/personal/accounts/corporate-salary-account/comfort-exclusive.html |
An valuable comment by @Sreerag reg. different salary accounts - https://www.technofino.in/community/threads/salary-account-recommendation.2676/post-47069
My take on this is that, w.r.t benefits from above salary accounts ---> IndusInd > IDFC > HDFC > Axis > ICICI. (Don't even consider Kotak).
Disclaimer on above order
1. I haven't compared services, as it is subjective and may vary from branch to branch and primarily I didn't experience it.
2. Have ranked IndusInd on top because of interest rate it offers + the debit card benefits.
3. Have added IDFC as second in the list only because of the interest rate it offers. I didn't find it's debit cards rewarding.
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