A big advantage of a salary account is that there is no condition like a minimum balance in it. Meaning, it is necessary to have a minimum balance in a common savings account, otherwise a penalty has to be paid. But even if the balance in the salary account is zero, you will not be charged a penalty.

If you are employed, then you will have a salary account. Salary account is opened only on the recommendation of the company or organization where you work. Every month the employee's salary comes in the same account. A big advantage of salary account is that there is no condition like minimum balance in it. Meaning, it is necessary to have a minimum balance in a common savings account, otherwise a penalty has to be paid. But even if the balance in the salary account is zero, you will not be charged a penalty. But if someone loses his job, does he still get the facility of Zero Balance on that bank account? Know here-

Know till when you get the facility of zero balance

The facility of zero balance is available on salary account only till your salary is credited in it. If salary is not credited in your bank for three months, then the salary account is converted into a normal savings account. In such a situation, the rest of the facilities available on that account are also withdrawn.

Apart from zero balance, these facilities are available

- Account holders get free checkbook, passbook, netbanking facility on your salary account. Apart from this, there is no charge for the SMS that comes regarding salary credit.

- You easily get a personal loan, car loan or home loan etc. because the bank has solid proof of your income through bank statements. In such a situation, banks are assured and the risk is less. For this, verification of documents is also done easily.

- Overdraft facility is also available on salary accounts with tenure of 2 years or more. The limit of the overdraft amount is equal to two months' basic salary. Under the overdraft facility, even if there is no balance in your bank account, you can withdraw money up to a fixed limit.

- If you have a lot of money, you can also open a wealth salary account. Under this, the bank gives you a dedicated wealth manager. This manager looks after all your bank-related work.