ICICI Bank offers a wide range of salary accounts to the employees and employers to fulfil different banking needs. The variety of these options makes salary account held with this bank as one of the best and favoured choice for many salaried individuals and their firms.
ICICI Bank Salary Account Advantages for Employers
An organisation/firm/company can go for the ICICI Bank Salary Account for easy disbursement of the salaries. Along with, companies/employers can enjoy myriad of benefits and features. Some of them are listed here:
- Zero Balance Accounts: ICICI Bank provides zero balance salary accounts. Hence, there are no worries of maintaining the minimum balance. Your employees will enjoy better banking facilities with these salary accounts.
- Extensive Network of Branches and ATMs: At present, the bank has an extensive network of more than 11000 ATMs and 3400 branches across the nation. This network makes banking easy and convenient for you and for your employees.
- Reduced Paperwork: By opting to ICICI Bank’s salary accounts, an organisation can easily negate the need for cumbersome paperwork of maintaining records of employees and their salaries. Everything is available at the fingertips of your employees as ICICI Bank salary accounts come with several amazing features including internet banking, SMS alerts, email statement, etc.
- More Savings on Costs: The list of benefits and features is limitless. An employer and employee can experience the most economical banking through the salary accounts of ICICI Bank. They can avail free remittance of pay orders and demand drafts (DD) up to Rs. 25000 on any ICICI Bank branch.
- Special Offerings: Salary accounts offered by the ICICI Bank give a number of special offers to your employees. With ICICI Bank’s salary accounts, your employees enjoy the free anytime anywhere banking facility, attractive offers on credit cards and loans, investment advisory and much more.
- Offers for Defence Personnel: ICICI Bank understands the value of sacrifices done by the brave defence personnel. Hence, they provide specifically crafted ‘Defence Banking Services’ for the armed forces.
- National Pension Scheme (NPS): ICICI Bank is one of the registered members of the Pension Fund Regulatory and Development Authority (PFRDA). So, they provide NPS services to the corporate customers. They can also claim tax benefits under section 80CCD (2) of the Income Tax Act, 1961.
ICICI Bank Salary Account Interest Rate
| ICICI Bank Salary Account | Interest Rate |
| Below Rs. 50 Lakh | 3.50% |
| Rs. 50 Lakh and above | 4.00% |
Eligibility to Avail ICICI Bank Salary Account Advantages for Employers
A firm needs to have at least 20 employees and annual pay out of Rs. 36 Lakh to be eligible for ICICI Bank Salary Account. The average salary per account should be at least Rs. 15000 per month.
How to Open a Salary Account of Employees in ICICI Bank?
To open a suitable salary account with ICICI Bank, your organisation must share a salary credit association with the bank. After this, the HR or accounts department will approach the bank’s executive to come to the office premises to open salary accounts of their employees. You just need to keep the copies and original ID and address proof, photographs and employment proof with you to make the process easy. The executive will provide you with a welcome kit (debit card, PIN and chequebook) upon the documents verification.