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Best Salary Account 2024

Hi All,
I have a net monthly salary of 1.5 lakh. I have been offered bank account mentioned below -
Yes Bank First account
ICICI Wealth Account
Axis Burgundy Account
Kotak Prvy League Platinum Account.

Which one to go for.
 
Hi All,
I have a net monthly salary of 1.5 lakh. I have been offered bank account mentioned below -
Yes Bank First account
ICICI Wealth Account
Axis Burgundy Account
Kotak Prvy League Platinum Account.

Which one to go for.
Which company are you working for?
Burgundy with 1.5L seems like a good deal if its true
 
I have a net salary of 3.2L. Should I transfer to axis? I dont think I will get an infinia anytime soon. Already have dcb. And I like the burgundy debit card and can potentially get atlas ltf.
 
I had been researching about this for some time and came to this conclusion:
Between Axis, HDFC and ICICI choose one bank where I can stay for long term. Because banking benefits will be always there for premium salary account. Being the top 3 banks in india, they won't shut down or drastically change their business.
Getting in to one of them with a good net salary (>2L) we are getting a lateral entry to their top 2-3 account variants, if not the best.
There are many non banking benefits for these higher variants that too all for free with salary accounts.

Now, I am in a testing phase with HSBC. I know this is not the bank I want to keep a long term banking relation. So giving it a try and letting go.

I had chosen ICICI for 2 years but the mistake I did was to upgrade to wealth management. Now a days all banks silently downgrade you if you don't meet the AMB & TRV conditions. I should have been happy with Previlege.
But their banking is super smooth, and credits cards are worthless.

Coming to Axis vs HDFC I am still checking more things. Axis is prone to continuous change of policies and benefits and devaluations. They keep moving things around. That is the only thing that stops me. But their tech, app and UI are cool.

HDFC is like the big daddy and last resort. So it's always there as the final destination.
 
I had been researching about this for some time and came to this conclusion:
Between Axis, HDFC and ICICI choose one bank where I can stay for long term. Because banking benefits will be always there for premium salary account. Being the top 3 banks in india, they won't shut down or drastically change their business.
Getting in to one of them with a good net salary (>2L) we are getting a lateral entry to their top 2-3 account variants, if not the best.
There are many non banking benefits for these higher variants that too all for free with salary accounts.

Now, I am in a testing phase with HSBC. I know this is not the bank I want to keep a long term banking relation. So giving it a try and letting go.

I had chosen ICICI for 2 years but the mistake I did was to upgrade to wealth management. Now a days all banks silently downgrade you if you don't meet the AMB & TRV conditions. I should have been happy with Previlege.
But their banking is super smooth, and credits cards are worthless.

Coming to Axis vs HDFC I am still checking more things. Axis is prone to continuous change of policies and benefits and devaluations. They keep moving things around. That is the only thing that stops me. But their tech, app and UI are cool.

HDFC is like the big daddy and last resort. So it's always there as the final destination.
I will tell you pros of hdfc imperia + dcb banking. Been their customer for last 2.5 years.
1. Customer care response is EXTREMELY fast. You call, you get connected at the press of ONE button. ZERO waiting time. Cant stress enough how instantaneous it is.
2. Zero MAB account

Thats it. Thats literally it. No special credit cards because the only better cc than dcb is infinia which has a spend based criteria to acquire. Their debit card is shit.

The pros I see for axis burgundy are:
1. Axis burgundy dc is AMAZING. 4 BOGO movie tkts. 4 BOGO non movie tickets. This alone would have been enough for me to consider axis.
2. Atlas ltf or Magnus Burgundy ltf. Fingers crossed. Will try my best to negotiate hard on this.
3. zero MAB like hdfc
4. I am assuming priority customer support. Honestly I dont need it much. I am very tech savvy and would like to avoid as much human contact as possible.
 
I had been researching about this for some time and came to this conclusion:
Between Axis, HDFC and ICICI choose one bank where I can stay for long term. Because banking benefits will be always there for premium salary account. Being the top 3 banks in india, they won't shut down or drastically change their business.
Getting in to one of them with a good net salary (>2L) we are getting a lateral entry to their top 2-3 account variants, if not the best.
There are many non banking benefits for these higher variants that too all for free with salary accounts.

Now, I am in a testing phase with HSBC. I know this is not the bank I want to keep a long term banking relation. So giving it a try and letting go.

I had chosen ICICI for 2 years but the mistake I did was to upgrade to wealth management. Now a days all banks silently downgrade you if you don't meet the AMB & TRV conditions. I should have been happy with Previlege.
But their banking is super smooth, and credits cards are worthless.

Coming to Axis vs HDFC I am still checking more things. Axis is prone to continuous change of policies and benefits and devaluations. They keep moving things around. That is the only thing that stops me. But their tech, app and UI are cool.

HDFC is like the big daddy and last resort. So it's always there as the final destination.
Oh and hdfc boasts of free lockers and special forex rates. Ghanta

Free lockers are almost never available in a tier 1 city. As far as forex rates goes I asked them for a special rate for investment of 15L in US market. They came back after a day giving me a discount of 20p. Thats right 20p. Insulting af.
 
Oh and hdfc boasts of free lockers and special forex rates. Ghanta

Free lockers are almost never available in a tier 1 city. As far as forex rates goes I asked them for a special rate for investment of 15L in US market. They came back after a day giving me a discount of 20p. Thats right 20p. Insulting af.
Agree to both these and free lockers and forex rate discounts are not something that I am looking for.

Yes I am also inclined towards Axis. But it is a new bank to me in terms of cards and bank.

ICICI - I have Amazon and sapphiro cards. But that's the end of relation. I don't want it get in again to ICICI world.

HDFC - As of now I have Swiggy and Neu Infinity cards. I was thinking to open the salary account and make a full fledged relation with HDFC only because of their robust system.

Axis - new to me in terms of cards and bank. I am NTB. I had a citi suvidha account and after migration they might have my old customer id and details. But I can start on a clean page. Burgundy account + Select CC is available to me. (At some place unread Select is of no use.) I need to explore all axis offerings, rewards portal, etc before taking the plunge.
 
Agree to both these and free lockers and forex rate discounts are not something that I am looking for.

Yes I am also inclined towards Axis. But it is a new bank to me in terms of cards and bank.

ICICI - I have Amazon and sapphiro cards. But that's the end of relation. I don't want it get in again to ICICI world.

HDFC - As of now I have Swiggy and Neu Infinity cards. I was thinking to open the salary account and make a full fledged relation with HDFC only because of their robust system.

Axis - new to me in terms of cards and bank. I am NTB. I had a citi suvidha account and after migration they might have my old customer id and details. But I can start on a clean page. Burgundy account + Select CC is available to me. (At some place unread Select is of no use.) I need to explore all axis offerings, rewards portal, etc before taking the plunge.
Yeah they offer select cc a useless card with burgundy. Hoping to get something better with my salary. Thinking of going to branch and talking.
 
Happy new year, guys! New year, new thoughts!

I have a question about salary accounts. In many companies, there are a few banks that have a tie-up with the company, and employees can choose any of them. A salary account will have a zero balance with all premium facilities as long as the salary is credited into the account. It's as simple as clicking a radio button in the HR portal to choose which account to credit the salary to. If the salary doesn't get credited for more than 3 months continuously, the bank will convert it to a normal savings account. In that case, you will need to maintain a minimum balance, and other facilities will be chargeable based on the account variant.

Now, on to my question - I am thinking of maintaining 2 salary accounts with 2 different banks and switching between them every 3-4 months. This way, I can get the best of both worlds. Has anyone tried anything like this? Basically, has anyone maintained two or more salary accounts simultaneously at the same time? Apart from the difficulties of tracking, what are the other drawbacks of this approach?

Any help? @Batmanbaba @shashank08 @wiizzard @vine @sousnake Anindya98
 
Last edited:
Happy new year, guys! New year, new thoughts!

I have a question about salary accounts. In many companies, there are a few banks that have a tie-up with the company, and employees can choose any of them. A salary account will have a zero balance with all premium facilities as long as the salary is credited into the account. It's as simple as clicking a radio button in the HR portal to choose which account to credit the salary to. If the salary doesn't get credited for more than 3 months continuously, the bank will convert it to a normal savings account. In that case, you will need to maintain a minimum balance, and other facilities will be chargeable based on the account variant.

Now, on to my question - I am thinking of maintaining 2 salary accounts with 2 different banks and switching between them every 3-4 months. This way, I can get the best of both worlds. Has anyone tried anything like this? Basically, has anyone maintained two or more salary accounts simultaneously at the same time? Apart from the difficulties of tracking, what are the other drawbacks of this approach?
Headache of changing bank account every few months with HR. Your HR may find this irregular.
Also it is possible you put the wrong bank account number on some random day while changing.
Other than this doesnt really seem any cons.
 
Happy new year, guys! New year, new thoughts!

I have a question about salary accounts. In many companies, there are a few banks that have a tie-up with the company, and employees can choose any of them. A salary account will have a zero balance with all premium facilities as long as the salary is credited into the account. It's as simple as clicking a radio button in the HR portal to choose which account to credit the salary to. If the salary doesn't get credited for more than 3 months continuously, the bank will convert it to a normal savings account. In that case, you will need to maintain a minimum balance, and other facilities will be chargeable based on the account variant.

Now, on to my question - I am thinking of maintaining 2 salary accounts with 2 different banks and switching between them every 3-4 months. This way, I can get the best of both worlds. Has anyone tried anything like this? Basically, has anyone maintained two or more salary accounts simultaneously at the same time? Apart from the difficulties of tracking, what are the other drawbacks of this approach?

Any help? @Batmanbaba @shashank08 @wiizzard @vine @sousnake Anindya98
Itna acha HR konsi company ka hai
Irritate hoke mana nahi karega kya

Referral de do bhai company me
 
Headache of changing bank account every few months with HR.
Itna acha HR konsi company ka hai
It has nothing to do with HR or finance. We can add and save any number bank accounts in the payroll portal.
We just need to select which bank account salary should come into.

There are approximately 12000+ employees in our company and every month 100s join and 100s leave.
So there is no headache or no particular person involved. Everything is automated in Workday.
Also it is possible you put the wrong bank account number on some random day while changing.
It's a one-time activity of adding and saving the bank account in the payroll portal.
After that, we don't change it. Just use the radio-button and select which account is needed for salary credit.
 
It has nothing to do with HR or finance. We can add and save any number bank accounts in the payroll portal.
We just need to select which bank account salary should come into.

There are approximately 12000+ employees in our company and every month 100s join and 100s leave.
So there is no headache or no particular person involved. Everything is automated in Workday.

It's a one-time activity of adding and saving the bank account in the payroll portal.
After that, we don't change it. Just use the radio-button and select which account is needed for salary credit.
Sounds feasible on paper honestly.

Some banks like Axis have the policy that if there is no salary for 3 months your Burgundy status will be revoked.
It is unsual, but it might just work!
 
Happy new year, guys! New year, new thoughts!

I have a question about salary accounts. In many companies, there are a few banks that have a tie-up with the company, and employees can choose any of them. A salary account will have a zero balance with all premium facilities as long as the salary is credited into the account. It's as simple as clicking a radio button in the HR portal to choose which account to credit the salary to. If the salary doesn't get credited for more than 3 months continuously, the bank will convert it to a normal savings account. In that case, you will need to maintain a minimum balance, and other facilities will be chargeable based on the account variant.

Now, on to my question - I am thinking of maintaining 2 salary accounts with 2 different banks and switching between them every 3-4 months. This way, I can get the best of both worlds. Has anyone tried anything like this? Basically, has anyone maintained two or more salary accounts simultaneously at the same time? Apart from the difficulties of tracking, what are the other drawbacks of this approach?

Any help? @Batmanbaba @shashank08 @wiizzard @vine @sousnake Anindya98
I will tell you when the trouble comes if suddenly you need to apply for any foreign country VISA I had to for UK work purpose in 2024 (they informed me in Mar 2024 for Aug travel) then the VISA office will ask bank statement of salary credit account for 6 months I had to give from Nov 2023 to May 2024.

I had changed my Salary account on Apr 2023 so it didnt affect me otherwise if you do this and suppose you had changed between Axis & HDFC in Dec 2023 and again on Mar 2023 then you would have had to submit I think 2 statements to VISA office for salary saying Nov was in Axis, Dec & Jan in HDFC, Feb & Mar in Axis and Apr again in HDFC.

This might cause trouble when they process your VISA so I would advise against it if there are chances of sudden foreign travel else if no plans of going abroad then you can do no issue
 
Sounds feasible on paper honestly.

Some banks like Axis have the policy that if there is no salary for 3 months your Burgundy status will be revoked.
It is unsual, but it might just work!
Yes, that's what I primarily asked in the post: what happens when salary comes on alternate months? I know about axis burgundy requirement and I don't want to risk it with Axis.

Was checking if anyone else uses two salary accounts simultaneously. Anyway thanks for the inputs.
 
So, looking at all the replies, HDFC still seems a better bet for 2lacs salary credit?

I'm in Delhi and my RM is just an idiot. Can someone recommend a better branch who can get the work done faster and better?
 
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