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Money matters

Compare & Difference|Savings Account vs Salary Account Online|YES BANK

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Salary Account

A Salary Accounts are opened on request of corporations and companies where each employee of the organization gets their own Salary Account. So, an employee gets a personal Salary Account where salary is credited every month.

Savings Account

A Savings Account can be opened by anyone from the public whether salaried or not. Typically, people who are not salaried open Savings Account to manage their finances on a daily basis and to get an interest-generating deposit account.

Difference between Salary Account and Savings Account :


Salary Account

Savings Account


A Salary Account is opened by an organization with the purpose of crediting the salary to the employee.

A Savings Account can be opened by anyone with Aadhar card to deposit money for the purpose of holding or saving it with the bank.

Minimum Balance Requirement

No minimum balance required

A certain amount of minimum balance to be maintained


When the salary has not been credited to your Salary Account for quite some time (usually three months) then the bank will convert your Salary Account into a regular Savings Account which will require maintaining a minimum balance.

It depends on the bank and you can apply to convert your Savings Account to your Salary Account. This is possible when you change your job, and you’re the organization happens to have a banking relationship with the same bank for its employees’ Salary Accounts.

Interest Rates

Interest rates offered are the same

Interest rates offered are the same

Who can open the account?

A corporate Salary Account can be opened by an individual whose company has a salary relationship with the bank. A Salary Account is created by the employer.

Anyone can open a Savings Account.


One needs to be aware of the above differences when converting from a Salary Account into a Savings Account, or if you frequently switch jobs. When you have not closed down or converted any previous Salary Account after switching organization, then make sure to do so, else banks will charge a maintenance fee or a penalty on not maintaining a minimum balance to the converted Savings Accounts.

Similar features of Salary Account and Savings Account

As stated above, both have different usage. But few features are common which is provided by the bank to both the account holders which include:

  • Easy & quick account opening formalities

  • Passbook Issue and printing

  • Alerts for account transactions

  • No charges for ATM usage at any other ATM

  • Setting up, executing and amending standing instructions

  • Electronic funds transfer - NEFT/RTGS/IMPS

  • Branch services – cash deposit, withdrawal

  • Cheque – collection, stop payment

  • Phone banking

  • Net banking

  • Interest/TDS Certificate

  • Balance confirmation certificate

  • DD – cancellation, revalidation and duplicate issue

  • Balance enquiry

  • 24/7 banking services

More additional features provided by YES BANK to Salary Account as well as Savings Account are as follows:

When you sign up for a YES BANK Savings Account or Salary Account, you can also access all of YES BANK’s Net Banking & Mobile banking platforms.

  • Free ATM withdrawals at ANY ATM in the country: All YES BANK Savings Account holders receive an ATM-cum-debit card, which can be used at any ATM across India (YES BANK or otherwise) completely free of cost.

  • The attractive rate of interest*: YES BANK Savings Account offers you the attractive rates of interest* of as compared to any other savings account available to customers, making sure your savings are growing.

  • Best of Digital Banking: All YES BANK Savings Account holders get access to the best Net Banking & Mobile banking facilities enabling them to keep a very close watch on their funds from anywhere in the world. Customers also have the best in online banking available to them free of cost, comprising of following services

    • View account summary, statements, and fund transfer details

    • Free RTGS/NEFT payment facility through Net banking & Mobile banking

    • Free IMPS facility through Mobile banking

    • YES ROBOT: 24*7 Personal Banking Assistant, available at, to create Fixed Deposits, pay bills, send money, do recharges, check balances

    • Register for e-Statements

    • Recharging your phone, DTH

    • Paying bills, including loan EMI’s and insurance premiums all in one compact place

    • Free issuance of demand drafts

    • Register for SMS alerts

* Savings Account interest rates are subject to change at the sole discretion of YES BANK. Conditions apply. For latest savings interest rate please click here


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