Salary saving account
is an interest-bearing saving account that is especially targeted for the
employees /staffs of different organizations to manage their payroll account
and also encourage the habit of saving. This account intends to facilitate the
organization with effective Salary Management scheme. It is opened upon the
mutual agreement between the branch and the organization/ firms upon which the
bank opens the salary savings account of each staff/ employees of the
organization.
Features
|
Product Name |
Salary Savings Account |
|
Primary Target Market |
Employees/staffs of different organizations
for managing their payroll account |
|
Minimum Balance |
ZERO |
|
Eligibility of customer |
Employee/ Staffs of the organization |
|
Interest rate |
As per Published rate by the Bank from time
to time |
|
KS iMobile
|
As per STC |
|
Debit Card |
Free for first year and as per STC
thereafter |
|
Locker Charge |
50%
discount for first year and 25% thereafter (Existing: As per STC) |
|
Locker Security Deposit |
25% waiver (Existing: As per STC) |
|
Demat |
As per STC |
|
MeroShare |
As per STC |
|
Interest Calculation |
Interest Calculation on daily and payable
quarterly |
Required Documents
- Citizenship from competent authority should be submitted.
· Other Features
·
Additional benefits can be given to the staffs upon the
agreement of customers and the Bank.
·
Bulk account Opening upon the provision of name list of
the staffs of the organization and the account shall be activated upon the
submission of the necessary documents by the respective staff.
·
Individual KYC and required document for account opening
form will update accordingly
Additional Document: Proof from the respective
organization like valid ID or letter of confirmation of employment should be
obtained to open this account.
