Ah that makes sense. Thanks.
Yep marking salary transactions under the salary tag does help in identifying.
Hahahaha. This is gold!
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Credit card calls are good, when is Jupiter offering one? 
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no
it’s not much of an use for me
those features are targeted towards people of much higher net worth
I see, could you mention those features if possible? Just curious :o
there are some wealth related features which I don’t know much about honestly for which you actually have to talk and maintain contact with your RM a lot which obviously I never did
and regarding, offers and discounts - they are targeted towards luxury high-end brands and stuff with high min transaction amount and all that
other than that there’s a lifetime free credit card which appears decent but rewards rates and redemption is very poor for a card of that level
minimum relationship value is also very very high in Indian context although being employee we get exception but as soon as anyone switches that account becomes a liability
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Got it. Thanks for letting us know @Krishnendu_Chowdhury
Definitely with you on the offers and discounts for luxury high end brands. It’s like they are offering things which we don’t even need/won’t use.
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I have my salary account with HDFC (lots here). I don’t find much difference compared to any other salary account in any other bank (have had salary accounts in ICICI and SBI). I feel they have a missed opportunity. I would like some financial products integrated into the account such as SIP products (Mutual fund, other investments, etc). Yes the NACH mandate is there. But I feel if it is integrated with the bank, it would be much more smoother (Once I forgot to maintain a balance for a SIP and the bank fined me Rs.600).
In the 6 years I have had the account, the only use of having a relationship manager was when getting my first credit card. While SBI rejected my application, HDFC was more willing.
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One interesting catch-all question - what do you wish from your salary account that you don’t have today? 
Debit card with exclusive benifits .
Personal loan .
Credit card
Cashback & Discounts
Relationship Manager for all Banking needs
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Sweep In Sweep out Facility
FD is created by trf of funds, in auto mode; and once funds are withdrawn through ATM/Upi/Neft/RTGS; an amount equal to withdrawable or transfer amount gets deducted from the FD, and rest amount is there in FD and earns interest.
Hypothetical Case: 1 lacs gets deposited → 1 lac is trf’ed to FD through SI mode → After 7 days, I am doing a fund transfer of Rs. 20k → 20k gets withdrawn and the rest 80 k is there in FD → 50k is withdrawn after 20 days → difference 30 k is trf’ed after 27 days.
Benefit: Instead of 3.5% [regular interest on savings/salary account], I get to earn FD interest which as of now is 5% & above for 1+ year [in Federal account].
In this case, one earned 5% interest on 20k for 2 days + 5% interest on 50k for 20 days + 5% interest on 30k for 27 days which is obviously greater than 3.5% on the above withdrawals.
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Salary account is interesting concept, in many organization it is driven by org mgmt which account they want for payroll processing so as a employee you or me have little say in it ,example all employee of jupiter must be getting salary in jupiter account 
. If you give feature where i push let say x amount at start of month and my account can be considered as salary account it will help all.
Why would one do it ? Give me better interest rate on salary account, one can rewards for doing SIP, paying utlitly bills, enroll into online courses, teach us to invest in MF, crypto in geniune way not just buy my plan.
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Earned Wage Access
In general, the salary account user is approved to withdraw up to X% of his/her salary after paying nominal fees.
Hypothetical Case & Benefit: Salary is 1 lac → After working for 15 days, I am in need of 40k but the salary would be deposited at end of the month → If I am a Jupiter salary account holder, I go to the Jupiter app and apply for 40k at a nominal fee of Rs. X [which might be equal to approx 10%-12% on fixed basis].
Presently: If one needs some money he/she goes to some fintech/traditional/unorganized channels [depending on demography and/or credit score] and pays high interest and in absence of making high-interest payments and in absence of which he/she goes down in debt hole.
From Jupiter’s point, why there won’t be NPA? There would be an instant credit line in lieu of his/her salary, which would start from 40% of his/her actual salary [and goes upwards depending on user loan repayment behavior].
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Overdraft against Salary
Select salary users get a credit aligned to their salary account which depends on multiple factors like Salary, Tenure, Repayment history, Relationship with Client, etc. The deposition of credit is in another account that is linked to the salary account.
To make this more lucrative, the interest rate can be 2% over and above the ongoing deposit rates.
Hypothetical Case: 1 lac is the salary → deposition of 80% of 1 lac in linked account → I get charged with interest when I use the lying balance in OD account, and that too only on the amount which I use.
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Automated Investing of spare change
How about undeniable, cumulative savings in choice of our asset classes like Crypto, Mutual Funds, Digital Gold, or plain vanilla pots?
Hypothetical Case: I set a mandate and round off to an absolute number [Eg. Rs. 20]. → I spend Rs. 12 through UPI for Chai → difference of Rs. 8 gets automatically invested in the selected asset class.
To add to this, Jupiter can also provide an option to invest a particular amount; no matter you have spent on that particular day or not.
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Whoa! Thanks a lot, guys, these are really insightful 
So we’ve added a quick poll and we’d like to know what do you use your salary account for?
You can find the poll in this thread topic (My first post). Click here if you can’t find it - Salary accounts | What do you use it for?
Let us know!
I recently opened a salary account with ICICI bank and here is a list of features it provides.
I am not sure how many features would be essential for me as of now but will reply to this thread after 6 months of usage.
Salary account Benefits for employees
Key Highlights
-
Zero balance salary account
-
5 zero balance savings account for your families
-
Higher end international Debit card
-
Unlimited ATM withdrawals in any ATM’s
-
Shopping limit 1.5lakhs per day
-
Purchase protection plan on debit card 1.5 lakhs
-
Insurance coverage
A. Air accidental- 40.
B. Personal accidental- 10Lakhs
(Guaranteed amount for nominees no conditions applicable) -
No DD making charges upto 1lakh per day
-
40% discount on locker facilities
-
Life time free credit card
( No joining fee, no annual fee, no hidden charges, No conditions)
A. Quarterly 3 airport lounge complimentary
B. Buy one get one movie tickets free
C. 15% Discount on dining
D. Petrol surcharge waiver
Amazon pay credit card-
5% Discount for prime members
3% discount for non prime members
-
Salary overdraft facility- 3 times of your salary
-
Life time Free Demat and Trading account
-
Attractive rate of interest on
-Personal Loan
-Home loan
-Car loan (100% on on road prices)
-Two wheeler loan (100% on on road prices) -
No Home branch concept
-
Friendly Digital app
-
350+ transactions in one app
-
Zero cost for money transfer
IMPS - No charges
RTGS - No charges
NEFT - No charges -
Pay later facility
20,000 credit limit with interest free -
Cardless cash withdrawal facility
-
I wish facility
OFFERS
- Flipkart 10% off
- Amazon 5% cashback
- Myntra 10% cashback
- Big basket 10% discount
- Medlife Rs.200 cash back
- LG 12.5% cash back on all products
- Make my trip discounts
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This is great. Thank you for sharing @Helloshantanu
May I ask how did you make the decision to open an ICICI salary account?
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