The Citibank Suvidha Payroll Account is tailored to meet the banking needs of the modern professional. With preferential pricing on Citibank products, a powerful debit card and 24/7 access to convenient digital banking platforms, the Suvidha Payroll Account is a one-stop solution for all your banking needs.
The Citibank Suvidha account is such a no-balance account that requires no minimum balance. In today’s world, when convenience and instant access are absolutely necessary, it is important that the payroll account is with a bank that offers internet banking and mobile banking.
Minimum Balance for Citibank Savings Accounts
Most Citibank Savings Accounts require a minimum balance of Rs. 1,00,000 to 2,00,000 on average than minimum balance maintained. The bank may change their policies and this information must be verified when you apply for a savings account.
Citibank Suvidha Account
A salary account with no balance with overdraft up to 5 times your salary, choice of debit cards with special offers for your regular purchases, a loyalty program that rewards you for almost all activity on your account and other attractive features.
No minimum balance requirement. Free ATM/debit card with daily transaction limit of Rs 10,000 at ATMs and outlets (in shops/retail outlets). Daily transaction limit of Rs 10,000 via payment gateway (online payments)
The Citibank Salary Account (AKA Citibank Suvidha Account) is hassle-free and convenient – as long as you get your salary credited to it (from the same employer you opened the account with). Then comes the day you change jobs and your Citibank Suvidha payroll account is no longer a zero balance account.
Step 2: You need to bring an account closure form from the branch or download the same from Citibank official website https://www.online.citibank.co.in/portal/cb/cards/AccountclosureForm.pdf. Step 3: Fill out the form with the personal and account details correctly.
To waive the $12 monthly service fee
Make one Advanced Direct Deposit1 and one qualifying bill payment2 per billing cycle or maintain a combined average monthly balance of over $1,500 in eligible linked accounts.
Waive Your Monthly Service Fee
Opening a Citi Savings Account in a Basic or Access Account Package? Maintain an average monthly balance of $500 to waive your $4.50 monthly service fee. Whichever package you choose, link your accounts to make it easier to meet credit requirements and avoid monthly fees.
You can only open a payroll account with Citibank Suvidha if your organization has an ongoing banking relationship with Citibank Suvidha. Please check with your company’s human resources or payroll department before applying.
Overall Bank Rating
Citibank offers many of the perks you’d expect from a large, national bank, including a wide variety of product offerings and a massive ATM network. But it has fewer branches than some of its competitors, like Wells Fargo and Bank of America, and its most competitive savings account isn’t available in all regions.
The salary account holders of Citi India “Suvidha” salary account are required to maintain a monthly net relationship value of Rs 1,000 if their salary is no longer credited to the Suvidha account due to job change. The Suvidha salary account is a zero account.
Citi, which has had a presence in India for over a century, is not the first foreign bank to go out of business or downsize. Almost immediately after Citigroup announced its decision last year, FirstRand Bank followed suit. South Africa’s second largest bank has assets of $118 billion in India.
It not only takes into account the savings balance in your account, but also includes your fixed deposits (FDs), investments & Insurance policies purchased through Citibank. NRV Non-Maintenance Fees are 1% of the NRV Shortfall or `600 (Domestic) and `400 (Non-Residents), whichever is lower.