What is Super Salary Account? Lets find out 

A lot of you are already aware of the perks that come with the account, like having no minimum balance, a free chequebook, online fund transfers, and credit card deals. But have you heard about the Super Salary Account? What are its perks, who can qualify, and what documents do you need to set one up?

While different banks might have their own unique offerings for super salary accounts, there are some standard benefits that most provide. These typically include features like a zero balance requirement, free SMS notifications, higher ATM withdrawal limits, better loan rates, increased interest on fixed deposits, a free debit card, unlimited free ATM transactions, and reduced or waived fees for services like NFT, RTGS, IMPS, and demand drafts.

Some banks even throw in death and disability insurance with their super salary accounts. Plus, you might find cool options like pre-approved loans based on your salary at select banks.

Eligibility

Taking Bank of Baroda’s Super Salary Account as an example, they offer great perks such as an overdraft facility, a lifetime free Bada Select Credit Card, a 50% discount on retail loan processing fees, a 30% discount on locker services, a lifetime free Rupay Platinum Debit Card, and free personal accident insurance. Similarly, Union Bank provides benefits like a free debit card, locker access, and a personalized chequebook with their Super Salary Account. So, what do you need to qualify for a Super Salary Account?

In many banks, salaried individuals earning a consistent monthly salary of at least Rs 5,000,000 are eligible to open this account. To do so, you’ll need to present certain documents related to your salary, such as your most recent salary slip and your appointment letter. Additionally, you’ll need to provide some officially recognized identification documents.