A salary account is a special type of bank account where your company deposits your salary. These accounts usually have a zero balance, meaning you don’t need to maintain a minimum balance. But the Best Salary account can offer many benefits – like a free debit card, premium credit cards, and discounts on loans.
Today, around 44 million people in India use salary accounts, and in 2025, these accounts are still offering good benefits. Let’s take a look at the salary accounts of these five banks and their benefits.
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HSBC Salary Account: Premium Services and Cashback
- The HSBC Salary Account is great for high-salaried employees, especially if your monthly salary is Rs 50,000 or more.
- With HSBC’s salary account, you will get 5% unlimited cashback on debit cards, which is applicable on online and retail purchases (this offer is valid till July 31, 2025).
- Also, with HSBC you get a zero balance account, and unlimited free withdrawals from any VISA ATM.
- If you love to travel, HSBC’s Global Money Service lets you send money to 200+ countries in 20+ currencies, that too without any fees.
- Personal loans offer interest rates starting at 9.99%, and you get complimentary personal accident cover of up to Rs 5 lakh.
- But keep one thing in mind – HSBC has fewer branches in India, so if you need to visit a branch, it can be a bit of a hassle.
Axis Bank Salary Account: Flexible and Rewarding
- Axis Bank has different types of salary accounts, such as Prime Salary Account, Priority Salary Account, and Defense Salary Account.
- I really like Axis’ Priority Salary Account because if your salary is more than Rs 1 lakh, you get 10% cashback on online debit card spending (up to Rs 25,000 per quarter).
- With Axis, you get a zero balance account, and the first 5 transactions are free from Axis ATMs and 3-5 transactions from other banks’ ATMs (depending on metro/non-metro cities).
- The daily shopping limit is Rs 5 lakh, and you get a personal accident cover of up to Rs 5 lakh. With Axis’ debit card, you get purchase protection, which means that the items you buy with your debit card are protected against theft or loss for 90 days.
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ICICI Bank Salary Account: Simple and Reliable
- ICICI Bank’s salary account is good for people like me who want a simple and reliable account.
- With ICICI, you get a zero balance account, and facilities like free phone banking, PPF account, and fund transfer.
- You get an international titanium debit card, which has no annual fee, and lost card liability protection up to Rs 2 lakh.
- With ICICI, you get free remittances (demand draft, cheque, pay order) up to Rs 25,000, and personal accident death insurance and air accident death insurance (depending on the account variant).
- ICICI’s app is very user-friendly, and you can do almost everything from the app.
HDFC Bank Salary Account: Service and Benefits
- HDFC Bank is a leading bank in India, and their salary account is very popular.
- In HDFC, you get a zero balance account, and you get 3.5-4% interest on your savings.
- You get a personal relationship manager, who helps you with your banking needs.
- In HDFC, you get offers on debit cards, and you can open a zero balance account for your family too.
- You get preferential rates on loans, and you get free personal accident death cover up to 1 lakh.
- HDFC has a very large network of branches and ATMs, so you don’t face any problem anywhere.
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Kotak Mahindra Bank Salary Account: Flexible and profitable
- Kotak Mahindra Bank’s salary account seemed very good to me, as they offer different options for employees with different salaries.
- In Kotak, you get a zero balance account, and you get up to 4% interest on your balance. You get free NEFT, RTGS, and IMPS transfers, and unlimited transactions from any VISA ATM.
- With the Kotak Platina account, you get a personal accident death cover of up to Rs 35 lakh, and a lost card liability insurance of up to Rs 3,50,000.
- You can open 3 free accounts for your family, and get a 25% discount on lockers.
- Kotak’s app and net banking are very easy to use, and you can transfer funds 24/7.
Best Salary Account Comparison: Choose Best one!
| Bank Name | Zero Balance | Interest Rate | Personal Accident Cover | Key Benefits | Service Issues |
|---|---|---|---|---|---|
| HSBC | Yes | Not Available | ₹5 lakh | 5% unlimited cashback, Global Money Service | Fewer branches, slow service |
| Axis Bank | Yes | 4% | ₹5 lakh | 10% cashback (Priority), Flexible options | Sometimes slow service |
| ICICI Bank | Yes | 3.5% | Depends on account type | User-friendly app, Free remittances | Complaints about spam calls |
| HDFC Bank | Yes | 3.5-4% | ₹1 lakh | Relationship Manager, Large network | Slow app, spam calls |
| Kotak Mahindra | Yes | 4% | ₹35 lakh | Free transfers, Locker discounts | Slow service in some cities |
What to look for while choosing a best salary account?
- Understand your needs: Do you want more cashback, travel benefits, or a simple and easy account? I like cashback more, so I liked HSBC’s account.
- Branch and ATM network: If you need to visit a branch, banks like HDFC or ICICI are good, as they have a large network. HSBC has fewer branches, so it can be a problem there.
- Credit card offers: If you want a good credit card (like Axis Magnus or HDFC Infinia), then choose Axis or HDFC, as they offer good credit cards.
- Service quality: ICICI’s app and service are very good, but some people have complaints about the services of HDFC and Axis. Check which bank offers good service in your city.
- Insurance and Benefits: Kotak offers accident cover up to Rs 35 lakh, while HSBC and Axis offer up to Rs 5 lakh. If you want more cover, Kotak is a good choice.
What I Think!
I think choosing a best salary account depends on your needs. For me, ICICI’s account is the best because I like their app and service. But if you want more cashback and travel benefits, HSBC is better. Axis and HDFC have good network and credit card offers, while Kotak offers more insurance cover and flexibility. Check which banks your company has tied up with, and choose the account according to your needs. If you have any more questions, be sure to ask me. I will explain it to you in simple terms! Now choose your salary account and enjoy it!
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