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
Key Features
- 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 7.50% p.a. on daily end of day balances
- Aadhaar seeding facility to receive government subsidies (DBT benefits) linked with Aadhaar
- Get best in 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 Six free transactions per month*
- Instant fund transfer facility through IMPS at nominal cost 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
Interest on balances in sweep account opened with Partner Bank - Up to INR 1Lakh - 3.50% p.a., over INR 1 lakh and up to INR 5 lakh - 5% p.a.,over INR 5 lakh and up to INR 10 lakh - 6% p.a.,over INR 10 lakh and up to INR 2 crore - 7% p.a.,over INR 2 crore and up to INR 5 crore - 7.10% p.a. and above INR 5 crore - 7.50% p.a. Applicable interest will be calculated on the incremental amount for the slabs w.e.f. 1st September 2023.
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.
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.
Effective 7th Jan 2023 onwards, Interest on Balances in Fino Payment Bank Saving Account has been revised as follows :
|
Daily Closing Balance Slabs |
%ROI per annum |
|
Up to and including Rs. 1 Lakh |
2.50% |
|
Above Rs. 1 Lakh up to & including Rs. 2 Lakhs |
5.00% |
Interest payable to the customers is being revised from Quarterly to Monthly. Interest will be accrued on daily closing balance and paid to the customers at the end of every month.
*Interest on balance in Sweep Account with our Partner Bank will be as per partner bank policy & norms.
For detail Rate of Interest Please click here
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.
