What is the difference between a salary account and a savings account?

Question

Accepted Answer

Salary account is for receiving salary while saving account is for saving money.

Salary account is used for receiving monthly salary from employer
Saving account is used for saving money and earning interest on it
Salary account usually has higher transaction limits and lower minimum balance requirements
Saving account usually has lower transaction limits and higher minimum balance requirements
Salary account may have additional benefits like free ATM withdrawals, zero balance account, etc.
Saving account may have additional benefits like overdraft facility, sweep-in facility, etc.

Accepted Answer

Salary account me customer ki salary base details hoti h our savings account me customer ki savings money ki details hoti h savings money dalte h customer

Asked in IDFC FIRST Bank

What is the difference between a salary account and a savings account?

Interview Questions Asked to Banking Officer at Other Companies