Citibank Suvidha Salary Account
Features, And Benefits of Citibank Suvidha Salary Account
Citibank offers a great opportunity for salaried employees to open a Citibank Suvidha Salary Account. This account comes with various features; the best one is that this account is a zero balance account for the salaried. Besides, the employees benefit from a complimentary credit card, overdraft functionality, the option to redeem reward points for cash, and so much more. The Citibank Suvidha Salary Account is designed to meet the banking needs of the modern professional with 24/7 access to its robust digital banking platform, a powerful debit card, and one-stop solutions for all your banking needs. Citibank understands the needs of the modern professional and offers an excellent banking system with a multitude of services.
Let us learn more about the Citibank Suvidha Salary Account Offers and details!
Features of Citibank Suvidha Salary Account
If you have a salary account at Citibank or you choose to open a Citibank Suvidha Salary Account, here are some features and benefits that you can enjoy:
- A salary account with a zero balance which means no minimum balance is required in your account for easy operation
- You will receive an ATM card with a debit card with Rs. 1 lakhs as its daily limit. These debit cards are zero-fee cards that are globally recognised.
- You will receive a chequebook as part of your welcome pack.
- You also benefit from Personal accident insurance coverage of Rs. 10 lakh.
- Take advantage of overdraft capabilities, with up to five times your monthly net salary credited to your account.
- You can receive real-time alerts and services on your account activity, statements, SMS, and email to keep you regularly updated for your convenience.
- Preferential pricing is available for Citibank Suvidha Salary Account holders on personal loans as well as home loans.
- You can earn great reward points when you pay with your debit card. You can use your grocery debit card to shop at approved grocery stores. The reward is up to 5 times the amount spent, and these points can be redeemable for cash.
- You get the 'Bank on the go' facility with the updated Citi Mobile App.
- Customers also benefit from this service as there is no cost of demand drafts, RTGS/NEFT/IMPS remittances, financial planning services by Citibank executives for investments, etc., in 1100 plus multiple locations in India.
- You will be issued a complimentary credit card with exclusive benefits that can be used as needed.
- You also get the advantage of utility bill payment capability to 200+ service providers across India.
- 2.5% annual Citibank Suvidha Salary Account Interest Rate calculated daily and paid quarterly.
- You can also avail of a comprehensive insurance solution for you and your family.
Debit Card Features
- You get a global fee-free debit card that can be used at merchants and ATMs worldwide.
- You can earn reward points for every transaction or spend using your Citibank debit card.
- You can redeem rewards points for cashback.
Citibank Online Features
- You get digital access with Citibank Suvidha Salary Account Login details optimised for online banking services.
- You can receive monthly online statements for free.
- You can also update your address, phone number, and email address online.
- Cover the payments for utility bills, SIPs, investments, EMIs, and credit cards.
- Get answers to your questions with the question tool and 24 by 7 free customer support.
Citi Mobile Features
- With Citibank's mobile app, you can bank at any time, anywhere.
- You get 24/7 access to account information, account/card overview without logging into your account, mini statements, account balance, etc.
- You can make instant payments using IMPS or the instant transfer capabilities of the mobile app.
- Stay updated with the latest deals and offer notifications.
- This app also helps you to manage your investments efficiently.
- You can top up to Paytm wallet and use it for making other UPI payments.
Factors To Consider Before Opening Your Citibank Suvidha Salary Account
A salary account is an account into which your salary is deposited. Generally, employers open a salary account for each employee with a company-affiliated bank. There are several factors to consider when setting up your Citibank Suvidha Salary Account; these include the following:
When opening salary accounts, one of the most crucial factors to consider is the rate of interest that account holders can earn on their balance. Collaborating with a bank that offers high interest and makes regular interest payments directly in the savings accounts is best. Generally, all banks pay interest on the amount deposited into the account, so it's a great opportunity for the salaried. Citibank Suvidha Salary Account Interest Rate is 2.75% per annum and is paid quarterly.
Average Minimum Balance
As a rule, all banks require that account holders have a specified minimum account balance, failing which the account may be charged. The best feature of Citibank Suvidha Salary Account is no minimum balance! These are zero-balance accounts which mean employees can withdraw their full salary from the account if they want to. Citibank Suvidha account is one of the zero balance accounts that does not specify a minimum balance.
Internet Banking/mobile banking Facilities
In today's world, everyone expects banks to provide convenient, user-friendly, and instant digital access to accounts, which is a must. Always choose to have a salary account at a bank offering internet and mobile banking services. A Citibank Suvidha Salary Account allows you to securely use your account through Digital Internet Banking and the highly convenient mobile application known as the Citi Mobile App.
Access To Global Debit Card And Credit Card
Adding a debit card and possibly a credit card to your salary account is very practical and convenient. You can withdraw cash from ATMs and use your card instead of cash at numerous stores. Citibank Suvidha Salary Account includes a fee-free debit card, which is accepted at merchants and ATMs worldwide. Reward points are accumulated for each transaction, and you can get cash back by redeeming points! You can also apply for more Citi credit cards to use with your paycheck and take advantage of additional benefits.
Interbank ATM transactions
The extensive availability of ATMs is a convenient service offered by banks, allowing you to withdraw cash anytime, even after hours, which is very convenient. Debit cards can usually be used at ATMs of other banks for a nominal fee. The Citi Debit Card charges no fees for up to 5 ATM transactions per month. These are some important factors that will help you in your decision to open a salary account.
How To Open A Citibank Suvidha Salary Account?
Generally, the employer ties up with banks to open salary accounts for his employees. Each person employed gets a salary account, which is credited monthly. Some banks also allow people to open their salary accounts but require employment evidence from the person they work for.
The Citibank Suvidha Salary Account is one of the highly preferred salary accounts in the country today. Here is how you or your employer can open a salary account with Citibank:
Step 1 – The company/individual should visit the nearest branch or contact a Citibank representative.
Step 2 – An application form should be duly filled with employment details of employees to open the account.
Step 3 – A bank opening kit will be given to each employee, which comprises the debit card and details of how they can access the internet and mobile banking.
Step 1 – The company/individual can visit the official website of Citibank and fill out the form with the relevant details.
Step 2 – You can submit the required documents online or hand them over to the representative who will visit you.
Step 3 – A bank representative will contact the organisation/person and get all other formalities fulfilled.
Step 4 – A welcome kit will be provided to employees after the status has been verified and the accounts are opened.
Eligibility Criteria To Open A Citibank Suvidha Salary Account
Each bank sets eligibility criteria for opening a salary account. They vary between banks, but most of them rely on the given criteria:
- Employed people who are not self-employed and have their monthly salary deposited into an account.
- Some banks also list eligible salary ranges for such accounts.
Citibank Suvidha Salary Account Eligibility Criteria
- A Citibank Suvidha Salary Account can only be opened if the organisation has a continuing banking relationship with Citibank Suvidha.
- Check with your company's human resources or salary department before applying.
- An online eligibility tracker is available on the bank's official website, where you can check whether you can individually apply for the Citibank Suvidha Salary Account.
Documents Required To Initiate A Citibank Suvidha Salary Account
To initiate a Citibank Suvidha Salary Account, you'll need to submit the following:
- Two passport-length photographs
- Proof of Address, Age, and Identity (Aadhar card, Voter ID Card, PAN Card, Passport, Driving Licence, etc.)
- Job Card with the aid of using NREGA duly signed with the support of using an officer of the country's Government
Rewards Programs under the Citibank Suvidha Salary Account Offers for debit cards
Several bonus reward programs are available when using a debit card issued via your Citibank Suvidha Salary Account. You can earn:
|First Citibank Suvidha Salary Account Login within 60 days of account opening||50 Reward Points||One time only|
|Standing Instructions (SI) for a Citibank Credit Card Payment, Loan Payments, or regular investment schemes (SIP)||5 reward Points (Maximum of 20 Reward Points every month)||Regular|
|Bill payments on Citibank Online||5 reward Points (Maximum of 20 Reward Points every month)||Regular|
Fees for Citibank Suvidha Salary Account
The fees associated with the Citibank Suvidha Salary Account are detailed below:
|Outward foreign currency TT||Rs. 250|
|Foreign currency draft||Rs. 300|
|Cancellation charges for DD||Rs. 100|
|Inward cheque return||Rs. 350|
|Outward cheque return||Rs. 100|
|Foreign currency cheque return||Rs. 500|
|Overdraft interest rate||24% p.a.|
|Signature Verification||Rs. 100|
|ECS Return Charges||Rs. 350|
|ATM Card Reissuance||Rs. 250|
|International Usage of Card||US $2.5 on a transaction|
|Family Card (Annual Fee)||Rs. 200|
|Non-Citibank ATM||5 transactions free, after which, Rs 17.8 per cash withdrawal or Rs. 8.5 per balance inquiry|
Benefits for Primary and Joint Individual Accounts Holder (60 Years and Above)
- A dedicated counter at any branch
- Issuance of the chequebook is free of cost
- Doorstep banking services
- The preferential interest rate of 0.5% for all fixed deposits
Transition of Citibank
Citibank recently announced its decision to focus its global consumer bank presence in Asia, Europe, and the Middle East on key global wealth hubs and exit 13 other markets. Consistent with this, Citi will seek to exit its consumer business in India. Citi centralises its global consumer bank presence in Asia and EMEA across four Global Wealth Centers in Hong Kong, London, Singapore, and the United Arab Emirates.
There will be no immediate change or impact on Citibank's account-related products and features. The bank promises not to affect salary accounts, credit cards, personal loans, or other Citi products. There will also be no effect on Citibank Online and Mobile Banking; Citi iPhone and all other channels will continue to work smoothly. Reward points for both credit and debit cards will continue to accrue and be redeemable. Customers will continue to receive great deals and rewards with Citi credit and debit cards.
Citibank Suvidha Salary Account is one of the most sought-after salary accounts available in India because of the plethora of benefits and features it offers to its salaried employees. Citibank recently announced its decision to concentrate its global consumer bank presence in key global wealth hubs in Asia, Europe, and the Middle East and exit other markets. But, the bank has given assurance that the existing Citibank Suvidha Salary Account holders will not have to go through any immediate change or impact in their current relationships with Citi. They are committed to ensuring that customers receive the best possible service and will continue to operate as normal.
Consumer-facing operations continue to operate as they do today, and the bank is committed to serving customers with the excellence they expect. The migration will be completed promptly and methodically with proper notice. Until then, all banking operations in India will function as they do today.
What is a Citibank Suvidha Salary Account?
The Citibank Suvidha Salary Account is designed to meet modern professional banking needs. With affordable pricing on Citibank products, a powerful debit card, and 24/7 access to our convenient digital banking platform, the Citibank Suvidha Salary Account is a one-stop solution for all your banking needs.
What is the minimum balance for the Citibank Suvidha Salary Account?
The Citibank Suvidha Salary Account is one of the zero-balance accounts that does not require a minimum balance.
What happens if my salary is not credited to my Citibank Suvidha Salary Account?
Salary accounts are not automatically closed by the bank. Banks cannot close accounts unless requested by the customer. The bank has confirmed that if no salary has been credited to the account for 3 months, it will be converted into a standard savings account. The customer will have to meet the minimum balance and regulate the account.
Does Citibank charge any withdrawal fee on its Citibank Suvidha Salary Account?
There is no withdrawal fee for ATM withdrawals from Citibank Suvidha Salary Accounts.
What is the Citibank Suvidha Salary Account Interest Rate?
Citibank Suvidha Salary Account Interest Rate is 2.5% annual interest on savings accounts which is paid out every quarter.
What are the eligibility criteria to apply for the complimentary credit card that employees can get with their Citibank Suvidha Salary Accounts?
The eligibility criteria for Ready Credit Card by Citibank for salaried employees are:
- Minimum Income Requirement - Rs. 20,334 net salary credit per month.
- Minimum Age - 21
- Maximum Age - 65 years or retirement age