DON'T DO THIS with your SALARY ACCOUNT

Salary accounts offer higher benefits than regular savings accounts without any minimum average balance (MAB) requirements. However, as the higher benefits are offered on the basis of the salary account, banks convert salary accounts into regular savings accounts when the employees quit their jobs. On conversion, the charges schedule and average monthly balance requirement of a regular savings account come into effect.

While it is better to close your old salary account after a job switch, there may be situations were carrying on with your existing salary account or converting it into a regular savings account would make more sense

Source: IndianExpress - https://tinyurl.com/y3u5zfa4

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