Accounts

Open a Salary Account in 3 easy steps

The blog outlines a three-step process for opening different types of Salary Accounts, including Basic, Reimbursement, and InstaAccount, detailing the required documents and benefits for each type.

Synopsis:

  • Salary Accounts can be opened through employer-bank tie-ups, simplifying bulk salary transfers.

  • Basic Salary Accounts require identity proof and employment verification; they can be applied online.

  • Reimbursement Accounts handle additional salary components and must be with the same bank.

  • InstaAccount offers a quick setup with NetBanking and MobileBanking access, ideal for urgent needs.

  • Required documents include identity proof, PAN, Aadhaar, and employment details.

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Overview

Salary Accounts can only be opened when an employer ties up with a bank. With this tie-up, the employer can transfer the monthly salaries in bulk to the respective Salary Accounts of the employees.

Employers choose the type of Salary Account, depending on which employees are offered benefits & facilities linked to their Salary Accounts.

Types of Salary Accounts and their opening process

1. Basic Salary Account

Opening a Salary Account with a bank is necessary for a new job. On joining a company, the employee must furnish his/her details to the same bank to have their Salary Account opened with the associated bank.

The employer can facilitate opening the Salary Account. Some banks also allow you to apply for a  Salary Account online and get the ‘customer’s welcome kit’ – account number, cheque book and debit card within a few days!

The documents required to open a Salary Account are:

  • A correctly filled application form to open the account

  • Proof of identity & address like:

  • PAN Card

  • Aadhaar Card

  • Voter ID Card

  • Driving License

  • Passport

  • An ID card issued by the Central or State Government

  • Public Sector Units (PSUs) and/or NREGA Job Card

  • The latest passport-size photographs

  • Appointment Letter (as proof of employment with the company)

Note that a company ID is not accepted as proof of identity. It has to be an identity proof issued by the government of India.

2. Reimbursement Account

There are separate ‘reimbursement accounts’, where some other components (travel allowance, etc.) of the gross salary are credited monthly. Reimbursement accounts are always with the same bank as Salary Accounts for the employer. This account makes the management of funds easy.

To open a Reimbursement account, you will have to submit the following:

  • Salary Account details

  • Debit Card details

3. InstaAccount

InstaAccount is the perfect solution for employees needing an account opened urgently. InstaAccount is NetBanking and MobileBanking enabled so that you can start transactions as early as 48 hours from account activation.

Requirements for opening an InstaAccount

  • Operational mobile number

  • Aadhaar number

  • PAN number

  • Individuals must be above 18 years old and not have an existing HDFC Bank Salary/Savings Account.

With HDFC Bank InstaAccount open a Savings Account instantly in a few simple steps. It comes pre-enabled with HDFC Bank NetBanking & MobileBanking, and you can enjoy Cardless Cash withdrawals. Click here to get started!

Know more about the Salary Account and its different benefits here.

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A Credit Card is a financial instrument or facility provided by banks. It comes with a predetermined credit limit. You can utilise this credit limit to make cashless offline and online payments for products and services using your Credit Cards.

A Credit Card is a financial instrument or facility provided by banks. It comes with a predetermined credit limit. You can utilise this credit limit to make cashless offline and online payments for products and services using your Credit Cards.

A Credit Card is a financial instrument or facility provided by banks. It comes with a predetermined credit limit. You can utilise this credit limit to make cashless offline and online payments for products and services using your Credit Cards.

A Credit Card is a financial instrument or facility provided by banks. It comes with a predetermined credit limit. You can utilise this credit limit to make cashless offline and online payments for products and services using your Credit Cards.

A Credit Card is a financial instrument or facility provided by banks. It comes with a predetermined credit limit. You can utilise this credit limit to make cashless offline and online payments for products and services using your Credit Cards.

A Credit Card is a financial instrument or facility provided by banks. It comes with a predetermined credit limit. You can utilise this credit limit to make cashless offline and online payments for products and services using your Credit Cards.

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