Benefits Of Corporate Salary Account

By Author: Vijay K Shetty
Total Articles: 2541
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Corporate Salary Account is one of the most popular retail products of a bank. A corporate salary account is convenience to both the employer who arranges the account and operates it for salary disbursement and the employee who uses it for his/her banking purposes.

A corporate salary account’s advantages are many - Proficient and well-organized salary disbursal process

The facility of instant and online transfer of salary which helps in quick access to funds

It involves less man power and involves lesser amount of documents to maintain for office record

Most of the banks and financial institutions maintain their dedicated staff to take care of the needs and requirements of their corporate clients.

It is easy to maintain the documents for each e-transaction which is easy to retrieve on requirement

Although Corporate Salary Account is introduced by the employers for the smooth processing of salary and wages, the many benefits that the employees –enjoys are mentioned below.

Corporate salary accounts are by default, Savings Accounts. Salary Accounts clearly reflect the ...
... net income of an individual. At times, these records also aid in availing loan products from the bank like home loan, car loan, mortgage loan, etc.

In contrast to a regular savings account where the account holder is liable to maintain a minimum balance, corporate salary accounts are zero balance accounts which does not require the account holder to maintain a minimum balance in his/ her account.

Corporate salary account holders are provided with benefits like ATM Card/ Debit card. Some of these Debit cards are can be used on international purchases as well!

Apart from Debit card, the account holders are given cheque books free of cost. The cheque book renewal facility is available on request in case of holding a corporate salary account.

A corporate salary account is advised for corporations who prefer a hassle free banking experience for their organisation and their employees.

Vijay K Shetty,
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