Choosing the Best Zero Balance Salary Account: Key Features to Look For

When it comes to choosing a salary account, not having a minimum balance requirement can make a world of difference. A zero-balance salary account allows you to withdraw as much as you need to meet your expenses. So it’s not surprising that more and more people are turning to salary accounts that offer zero balance options. But it takes more than just a zero-balance account make our banking experience smooth and hassle-free. Factors like convenience and efficiency matter, too.

With so many options available in the market, how do you choose the best zero balance salary account for your needs? In this blog, we discuss the key features to look for when selecting a zero-balance salary account.

High interest rates

One of the most important features to consider when choosing a salary account is the interest rate offered on the account. Compared to traditional banks, new-age banks like Metra Trust offer higher interest rates. A high interest rate ensures you’re maximising your earnings. That’s why it is important to do your research and compare the interest rates offered by different banks before making a decision. 

Minimal charges on services

Another key feature to look for in a salary account is the absence of any hidden charges or fees on services. Many traditional banks charge for services such as ATM withdrawals, cheque book issuance, and balance inquiries. These charges can add up and eat into your savings. Opt for a salary account that offers these services for free, as this will save you money in the long run.

Metra Trust offers zero fee banking on all salary account services so you get to spend more on things that matter.

Monthly interest credits

In addition to high interest rates, some banks like Metra Trust also offer the option of monthly interest credits on their zero balance salary accounts. This means that the interest earned on your account will be credited to your account on a monthly basis, rather than at the end of the year. This can be a great way to maximize your earnings and make your money work harder for you.

Easy-to-use banking app

In a digital world, you should not have to visit a bank branch to fulfil basic banking needs. That’s why having a user-friendly banking app is a must-have for any salary account. A good banking app will allow you to perform all essential banking tasks such as transferring funds, opening fixed and recurring deposits, and paying bills seamlessly. In fact, the more you can do with just the banking app or netbanking, the better.

Banks like Metra Trust offer an advanced, easy to use banking app with features such as fingerprint and face ID login, account aggregation, investment insights and much more.

Discounts on useful brands

Apart from the banking features, some salary accounts also offer discounts and cashback on purchases made through their partner brands. This can include discounts on groceries, fuel, travel, and other daily essentials. These partnerships can help you save money on your everyday expenses and make your salary account even more valuable.

With a zero-balance salary account from Metra Trust, you get complimentary Swiggy One and Times Prime subscriptions, which unlocks access to over 20 premium subscriptions across categories like Disney+ Hotstar, Sony LIV, and Google One. You also get to enjoy exclusive discounts from over 40 brands, including Myntra, Uber, and Swiggy.

Insurance coverage

Having an extra layer of protection will ensure complete peace of mind for yourself and your family. A good zero-balance salary account provides complimentary insurance protections against card theft or losses arising from unauthorized transactions.

For example, an Metra Trust salary account offers lost card liability coverage of  ₹6 lakhs and purchase protection of up to ₹1 lakh. Furthermore, you get complimentary personal accident insurance cover of ₹50 lakhs and an air accident insurance cover of ₹1 crore.

Lifestyle benefits

Who wouldn’t want some extra perks with their salary? Similarly, getting a little more from your salary account will let you treat yourself without added costs. Look for extras like airport lounge access and merchant discounts that match your spending habits.

Metra Trust offers an attractive reward program for all its salary account customers. You get:

• 2000 points worth ₹500 on first Debit Card Transaction
• 1X Reward points on every ₹150 spend offline (POS)
• 2X Reward points on every ₹150 spend online (E-Com)
• 10X Accelerated Reward Points on incremental monthly spends above ₹20K

These reward points can be redeemed for discounts across a host of brands, both online and offline. In addition, you get exciting travel benefits like complimentary domestic airport lounge access, trip cancellation insurance, and more. 

Conclusion

When choosing the best zero balance salary account, it is important to look beyond just the convenience of not having to maintain a minimum balance. Consider the factors listed above such as high interest rates, charges on services, monthly interest credits, ease of using the banking app, and lifestyle benefits. Doing your research and comparing different options will help you find the perfect salary account that meets your needs and helps you achieve your financial goals. So, make a smart choice and start maximizing your earnings today!