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How to Open a Salary Account Online with a Bank?

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Created on
July 7, 2022


What’s Inside

In a flurry of text messages pinging on our phones, we wait for one to beep: "Your Account has been credited with XXXXX." While money can't buy happiness, this statement on payday brings a smile to everyone's face. 

Salary accounts are a handy way for the company to pay the employee's monthly salary. It not only simplifies the process for the business but also provides salary account benefits to the employee.

Can I Open a Salary Account on My Own? 

The opening of a salary account is usually done by the employer at a bank with which the company has a relationship. It is not something that employees normally do unless the employer gives special permission. The company deposits all employee’s salaries into their salary accounts.

As an employee, you can also get a salary account by simply visiting the nearest branch of your bank and checking on their Salary Plans.

How To Open A Salary Account?

When an employee joins a company, a salary account is among the first things they get from the employer. It's often optional. Here is how you can open it -

1) Fill out a form that is submitted by the employer to the bank. 

2) To open a salary account online or offline with the affiliated bank, the employee must provide their information to the same bank.

3) Verify all your documents for proof of identity and address. And off you go!

What Are the Eligibility Criteria for Opening A Salary Account?

To open a salary account, you must meet certain qualifying requirements. Since you’ll be opening a salary account when you join an organisation, it’s most likely you’ll meet all the eligibility requirements, and all you’ll have to do is submit a completed application form together with the required documents.

Some banks ask applicants to submit an introduction from the firm in the format specified by the bank (stamped and signed by the authorised signatory). Furthermore, the monthly minimum net salary band differs by the bank. This also varies depending on the type of salary account provided by the relevant bank.

What Are the Documents Required to Open a Salary Account?

To open a salary account, employees require the following documents:

  • An application form to open a salary account.
  • Proof of identity & address like:

- PAN Card

- Aadhaar Card

- Voter ID Card

- Driving Licence

- Passport

  • An ID card issued by the Central or State Government, Public Sector Units (PSUs) and/or NREGA Job Card
  • Latest passport size photographs
  • Appointment Letter (as proof of employment with the company)

What Are the Benefits of Opening A Salary Account?

What's in it for you after all the hard work of finding a job and enjoying the fruits of your labour and toil? A salary account provides more benefits than a savings account. While the benefits and features of salary accounts vary from bank to bank, these are some of the most relevant ones: 


A salary plan often offers a zero balance account. Account-holders are not subject to any penalties if their account balance remains above a specific limit.

Online Banking

Salary account holders can also send and receive funds online globally through online fund transfers. This eliminates the requirement for cash withdrawals or cheque deposits to complete the fund transfer. Some banks also provide phone banking services, allowing customers to manage their accounts from the comfort of their homes.

Personalised Cheque Book and Debit Card

Employees are also given an ATM card that they can use to withdraw cash from ATMs and make online and offline debit card payments. For cheque payments, account holders receive individualised cheque books.

Loans are readily available

Account-holders can also get fast access to a variety of loans from banks. Having your salary account in the same bank as your bank account will make the documentation process smoother and quicker, regardless of whether you're searching for a personal loan, a vehicle loan, or a home loan. Even the interest rate for existing account holders is often more competitive.

Services for Investments

Salary account opening allows account holders to invest in financial schemes such as mutual funds, bonds, insurance, and more. A Demat account may also be linked to a salary account for stock investing and trading.


Opening a salary account provides numerous benefits for employees. It simplifies the process of receiving monthly salaries, offers zero-balance accounts, enables online banking and fund transfers, provides personalised cheque books and debit cards, grants access to loans and investment services, and offers additional perks and rewards. Salary accounts make managing finances more convenient and efficient, enhancing the overall banking experience for employees.

Level Up with the Fi Federal Salary Program

Fi, and its licensed partner Federal Bank, provide a Salary Program with many benefits.

  • Yearly benefits worth up to ₹30,000 
  • Free 2x health insurance top-up up to ₹20 lakhs
  • Access to Instant Salary 
  • 2% cashback on Debit Card and UPI spends 
  • Free Debit Card 
  • 0 Forex markup
  • Priority customer support 
  • 0 penalties for not maintaining a minimum balance 
  • Joining vouchers worth ₹500
  • Exclusive vouchers every month

Frequently Asked Questions

1. Can I open a Salary Account on my own?

The salary account opening is usually done at a bank with which the employer has a tie-up. But you can opt for the Fi Salary Program on your own. All you need to do is submit the details to your HR.

2. What is the eligibility to open a salary account?

Each bank has its own set of qualifying requirements for opening a salary account. They vary by bank, but in general, most banks look for the following: 

  • An employed individual, as opposed to a self-employed individual, requires an account into which their monthly payment may be deposited.
  • Some banks additionally state the salary range required to open an account.
  • Documents like Aadhaar Card, PAN card, proof of employment, etc.

3. How Does a Salary Account Get Converted To a Savings Account?

If an employee's pay is not credited to their salary account for three consecutive months, their salary account is changed to a regular savings account.

4. What is The Minimum Balance That Needs to Be Maintained In A Salary Account?

One of the most regarded benefits of opening a salary account is that there is no requirement to maintain a minimum balance.


Fi Money is not a bank; it offers banking services through licensed partners and investment services through epiFi Wealth Pvt. Ltd. and its partners. This post is for information only and is not professional financial advice.
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