If you’re employed and looking to open a salary account, you’re probably looking for one with a zero balance requirement, great benefits, and ideally, a free credit card. These days, banks are highly competitive with their salary account offerings, and some even offer a lifetime free credit card without any joining or annual fees.
I’ve checked out some of the top banks, and here’s a simple breakdown of which one is the best. Let’s look at the top options and their amazing features.
Best Bank Accounts For Salary With Free Credit Card
HDFC Bank Salary Account: The Most Popular Choice
HDFC’s salary account is a popular choice because it’s a zero-balance account and offers numerous perks. If your salary is more than โน25,000, it’s easy to open. The free credit card options include the Regalia or Millennia card, which are lifetime free and offer excellent rewards like cashback on shopping, lounge access, and fuel surcharge waiver.
Other benefits include free ATM withdrawals, high interest on savings around 3โ4 percent, and easy loan options. If you want a premium experience, HDFC is at the top.
ICICI Bank Salary Account: The Rewards King
ICICI’s salary account is also a zero-balance account, and premium variants are available for salaries above โน50,000. The free credit card options include the Coral or Rubyx card, which are lifetime free and offer buy-one-get-one movie tickets, dining discounts, and reward points that are easily redeemable.
Interest rates on savings are up to 3โ3.5 percent, along with free transfers and Amazon Pay or Flipkart vouchers. Customer service is also fast, and the app is very smooth.
Axis Bank Priority Salary Account: The Lounge Access Option
Axis Bank’s salary account offers a Priority variant for those with a salary of โน50,000 or more. The free credit card options include the Priority or Select card, which are lifetime free and offer airport lounge access, free golf games, and fuel surcharge waiver.
Maintaining a zero balance is easy, interest rates are up to 3.5โ4 percent, and there are many offers on the debit card as well. If you travel often, this option is very useful.
Kotak Mahindra Bank 811 Salary Account: The King of Digital Banking
Kotak’s 811 account opens completely online, has a zero balance requirement, and you get a free lifetime Platinum credit card upon salary credit. It offers cashback on rewards, movie discounts, and easy EMI options.
The app is very user-friendly, you get a virtual debit card instantly, and interest on savings is up to 4 percent, which is among the highest in this range. This is perfect for someone with a new job.
State Bank of India Salary Account: Safe and Basic
The SBI salary account is best for government employees or those working in large companies. It has a zero balance requirement, and you can get a free credit card like SimplyCLICK or Prime with offers on online shopping, fuel waiver, and loans.
Interest is around 2.7โ3 percent, but the bank offers strong trust and wide branch availability. If you want something simple and secure, this is a good option.
Features Comparison-
| Feature | HDFC | ICICI | Axis | Kotak | SBI |
|---|---|---|---|---|---|
| Minimum Salary | โน25,000+ | โน50,000+ | โน50,000+ | None | Company Dependent |
| Free Credit Card | Regalia/Millennia LTF | Coral/Rubyx LTF | Priority/Select LTF | Platinum LTF | SimplyCLICK/Prime |
| Interest Rate | 3โ4% | 3โ3.5% | 3.5โ4% | Up to 4% | 2.7โ3% |
| Key Benefits | Lounge, Rewards | Dining, Movies | Travel Lounge | High Interest | Trust, Loans |
| Zero Balance | Yes | Yes | Yes | Yes | Yes |
Pros and Cons
Pros
- Zero balance and free transfers across all accounts.
- Lifetime free credit cards with rewards and discounts.
- High interest rates and strong mobile banking apps.
- Instant benefits activated upon salary credit.
- Extra perks like lounge access, fuel waiver, and movie offers.
Cons
- Some accounts require a higher salary for premium cards.
- Spending limits may apply for certain card benefits.
- Customer service can sometimes be slow at large banks.
- Offers depend on company tie-ups and credit score approval.
Conclusion
For a free credit card with a salary account, HDFC and ICICI stand out if you want rewards and a premium feel. Axis is a strong choice for travel benefits, Kotak works best for high interest and digital banking, and SBI is ideal for a safe and basic setup.
Choose based on your salary and needs, and always check company tie-ups for extra perks. Confirm the latest offers on the bankโs website or branch.
