Saral Salary Account
Salary Account offers organisations a seamless and convenient way to process the salaries of their employees. Open salary accounts for your employees and lets them enjoy a comprehensive range of services to meet their daily banking requirements. The benefits of the account include no requirement of maintaining minimum balance in the account, mobile banking application (FinoPay) to access account 24*7 and a best-in-class debit card with a wide range of offers to help increase savings.
Note: To open a salary account, the corporate must be registered with Fino Payments Bank for a salary relationship.
Eligibility: Any resident Indian individual above 18 years of age
- Instant account opening
- Simplified process to credit salaries
- Instant debit card activation
- Zero balance account
- Sweep account facility with a potential to earn interest up to 6.25% p.a. on daily end of day balances
- Aadhaar seeding facility to receive government subsidies (DBT benefits) linked with Aadhaar
- Get best in class Classic/Platinum RuPay Debit card with your account. Also, there is insurance cover of up to Rs.2 Lakh in case of death/permanent disability due to accident linked with Rupay Platinum Debit Card. Terms and conditions apply
- Access ATMs all over India with up to five free transactions per month*
- Instant fund transfer facility through IMPS at nominal charges to any bank account in India
- Access your account anytime and anywhere through mobile banking application, FinoPay and internet banking
- Free monthly e-mail statements
- SMS alerts to track account activity
* First 3 ATM transactions free in Metro locations (Mumbai, Delhi, Bangalore, Chennai, Kolkata and Hyderabad) and first 5 ATM transactions free in other locations
Interest on balances in sweep account opened with Partner Bank – Up to INR 1 Lakh - 4% p.a., over INR 1 lakh and up to INR 10 Lakh - 6.25% p.a. and above INR 10 Lakh - 6% p.a. Applicable interest will be calculated on the incremental amount for the slabs till 19th January 2022.
Interest on balances in sweep account opened with Partner Bank - Up to INR 1Lakh - 4% p.a., over INR 1 lakh and up to INR 1 crore - 6.25% p.a. and above INR 1 crore - 5% p.a. Applicable interest will be calculated on the incremental amount for the slabs w.e.f. 20th January 2022
Note: Interest Rates are subject to change at the sole discretion of Fino Payments Bank and Partner Bank for sweep account. Balance above INR 2,00,000 on EOD will be transferred to customer’s sweep account held with Partner Bank.