Good News for Government Employees! These are the Best Banks to receive Government salary in India, check details

Good News for Government Employees! These are the Best Banks to receive Government salary in India, check details

Salary Bank account is important to receive government salary in India. Government employees across India prefer public sector banks over private banks for getting their salaries. A salary account for government employees is a special type of bank account to facilitate the regular disbursement of salaries to the employees.

Post Office POSB Account

If you want a completely secure and safe account to receive salaries and savings, then Post Office POSB account is the best fit for you. Although, Department of Posts staff mostly uses POSB account for their salaries but still any citizen of India can open POSB account to receive their salaries.

Post Office POSB account offers Rs. 500 min balance account, net banking, mobile app banking, cheque facitlity, atm cum debit card facility. There are no SMS charges, cash withdrawal, or deposit charges witha POSB account.

State Bank of India (SBI)

State Bank of India (SBI) is the top choice for many central and state government employees to get their monthly salary. SBI has largest bank branches network in India, partnership with government departments, and special SBI Salary Account for Central Government Employees (CGSP). With SBI, you can get benefits like zero balance, free ATM transactions, and reduced interest rates on loans.

Punjab National Bank (PNB)

Punjab National Bank (PNB) is also a good option for government employees to get their salaries. PNB salary account is popular among defence and paramilitary personnel. It provides zero balance salary accounts with free internet banking, special home and personal loan offers, and overdraft facilities. Plus, if you’re a defense person, then you’re also eligible for special PNB debit cards for Defence Personnel.

Also Read- Good News! This government bank is Offering Premium Savings Account With Zero Minimum Balance, unlimited cash deposits and withdrawals at any branch, know details

Union Bank of India & Bank fo Baroda

Union Bank of India (UBI) and Bank of Baroda (BOB) also have a large number of salary accounts of government employees. With a special salary account, these public sector banks offers accidental insurance cover, locker discounts, and dedicated relationship managers in some branches.

Private Banks to Receive Government Salaries

Popular private sector banks like HDFC Bank and ICICI Bank have also been popular in recent years. In urban areas, government servants prefer private banks like HDFC, ICICI, Bandhan Bank, Kotak Mahindra Bank etc. They offer personalized mobile banking experience, instant loan approvals, and salary advance options.

Why are government employees now preferring the India Post Payments Bank (IPPB) salary account?

India Post Payments Bank (IPPB) is a government-backed payments bank. With regular savings and current account facilities, they also offer salary accounts for government servants. You can use the IPPB salary account to receive your monthly salary. And as this bank is backed by the Department of Posts, Government of India, then you can be sure that your money is safe and secure with IPPB.

Which one to choose?

Most of the government servants prefer public sector banks due to safety and security for their hard-earned money. Banks like SBI, PNB, Union Bank, and HDFC continuously rank among the best options for receiving government salaries in India due to their safety, security, and multiple branches in India. Butthe final choice depends on the location and banking services by branch.