Best savings account with 5L initial funding

[diptarkaroy]

Looking for the best option from the below for a 5L initial deposit account (will withdraw most of the amount in 2-3 months)

Yes Grandeur - branch is close to my place, ensured me that they won’t downgrade my account after 2 months once I withdraw most of the fund (should I push for yes first account??? )

IDFC wealth - branch is not close, haven’t visited the branch. Savings account service not available to my pin code

Any other better option!!!

I don’t know wanna go for big names, as I already have account with them!!!

 

[Nishan11]

People don't wish to give business to banks but wish to enjoy all top tier perks as much as possible.

Banks are also responsible for encouraging such customers by taking Initial funding & then don't downgrade for non-maintenance of their premium accounts. They need to act & downgrade those accounts who don't maintain MAB continuously for more than 2 months.

People not even earning much are getting premium accounts by just doing IP & withdrawing most of it in couple of weeks/months.

 

[TheGuy]

They need to act & downgrade those accounts who don't maintain MAB continuously for more than 2 months.

Absolutely.
This is one thing I like about Axis HNI segment. They demote relationship instantly AFAIK.

Nishan, problem here becomes two fold. We behave like typical Indian and then Indian Banks behave like typical Indian. Somewhere along the shadows Game Theory prevails. Banks devalue financial product rather than taking action against ToS abusers.

 

[Bhagat Singh]

People don't wish to give business to banks but wish to enjoy all top tier perks as much as possible.

Banks are also responsible for encouraging such customers by taking Initial funding & then don't downgrade for non-maintenance of their premium accounts. They need to act & downgrade those accounts who don't maintain MAB continuously for more than 2 months.

People not even earning much are getting premium accounts by just doing IP & withdrawing most of it in couple of weeks/months.

Absolutely.
This is one thing I like about Axis HNI segment. They demote relationship instantly AFAIK.

Nishan, problem here becomes two fold. We behave like typical Indian and then Indian Banks behave like typical Indian. Somewhere along the shadows Game Theory prevails. Banks devalue financial product rather than taking action against ToS abusers.

Bank employees are pathetic and useless. Even HNI customer struggle often with banks.

About giving business to banks🤣🤣 it's banks fault.
They always try to deceive customer to make them invest in bad products and insurance

Once you open HNI accounts bank employees start spamming that customer.

And about Axis HNI segment. I have 3 accounts in axis

Axis priority current
Axis burgundy savings
Axis burgundy savings private.


I'm not maintaining even 10k and none of them downgraded.

Downgrading will not resolve anything instead banks will loose more than half of their HNI accounts.


I currently hold 30+ banks HNI/UHNI accounts.

Maintaining a fraction of the required criteria in all of them.


Banking is a business of trust

Devaluation occurs because people misuse banking products and brag about it on social media

 

[Vasuki]

Looking for the best option from the below for a 5L initial deposit account (will withdraw most of the amount in 2-3 months)

Yes Grandeur - branch is close to my place, ensured me that they won’t downgrade my account after 2 months once I withdraw most of the fund (should I push for yes first account??? )

IDFC wealth - branch is not close, haven’t visited the branch. Savings account service not available to my pin code

Any other better option!!!

I don’t know wanna go for big names, as I already have account with them!!!

Idfc wealth - NTB ( or 2nd account)
Hdfc imperia - ( customized account number+ imperia )
Icici wealth management
Yes granduer ( wait for someone marque to get processed
RBL signature ( 2l ) they will ask 4 but does I'n 2 ( your negotiation)

 

[Vasuki]

I currently hold 30+ banks HNI/UHNI accounts.

Haan Haan haan bhaiya flaunt kro .
Batao kuch nhi
Kotak wli aunty ka asirvad jo hai aapke upar

 

[Bhagat Singh]

Haan Haan haan bhaiya flaunt kro .
Batao kuch nhi
Kotak wli aunty ka asirvad jo hai aapke upar

Kotak waali aunty ki MKB. I gave up on Kotak. They're shameless pathetic vile creatures.

I closed all relationships with kotak and again opened kotak rèserve account under kotak private banking.

I selected same branch with kotak waali aunty as my home branch.

Ab uski jalti hai mere se . Every 10 days ICICI ka cheque deke aata hu usko 10-15 lakh ka. Deposit hote hi rtgs se nikal leta hu🤣🤣🤣🤣.

Will downgrade to kotak black after 5 months. Because kotak private banking is very strict about maintenance of criteria. Will enjoy kotak black until they don't finally downgrade me to kotak platinum which i wanted from starting.

No downgrades in kotak platinum as of now

 

[imdjay]

opened kotak rèserve account under kotak private banking.

Kitne ki IP lagi isk lia?
aur Black me convert k lia kya ker rhe ho?

 

[Bhagat Singh]

Kitne ki IP lagi isk lia?
aur Black me convert k lia kya ker rhe ho?

On paper it's 50 lakhs for new to bank customers.
New to bank customers means whose CRN is not generated.

Otherwise it's 7.5 CR TRV.

Anyone can get it with few lakhs IP with approval.
But you need to prove that you'll be able to meet 7.5 cr TRV



To covert to black nothing special is needed. When i will receive downgrade notice from kotak i will simply give downgrade request to black from private in branch. Before they downgrade me themselves.

 

[imdjay]

On paper it's 50 lakhs for new to bank customers.
New to bank customers means whose CRN is not generated.

Otherwise it's 7.5 CR TRV.

Anyone can get it with few lakhs IP with approval.
But you need to prove that you'll be able to meet 7.5 cr TRV



To covert to black nothing special is needed. When i will receive downgrade notice from kotak i will simply give downgrade request to black from private in branch. Before they downgrade me themselves.

I was just confirming this as the same was communicated to me.
I was about to open a Private or Black account with Kotak to get White reserve card when they were banned for issuing new cards. Currently holding 13-year-old Kotak Platinum acc. Bad luck for me.

 

[Dragon_slayer]

On paper it's 50 lakhs for new to bank customers.
New to bank customers means whose CRN is not generated.

Otherwise it's 7.5 CR TRV.

Anyone can get it with few lakhs IP with approval.
But you need to prove that you'll be able to meet 7.5 cr TRV



To covert to black nothing special is needed. When i will receive downgrade notice from kotak i will simply give downgrade request to black from private in branch. Before they downgrade me themselves.

Whats the point of putting 50L in a savings account which will earn only 3% interest. The extra interest you could have earned at other places, would still be worth higher than any benefit you might be getting from the card

 

[Bhagat Singh]

Whats the point of putting 50L in a savings account which will earn only 3% interest. The extra interest you could have earned at other places, would still be worth higher than any benefit you might be getting from the card

I don't have that much in savings. But there people who have 100s of crores in savings.

It depends on individual.
Jiske paas andha paisa hai usko fark nhi padta.

 

[Nishan11]

Whats the point of putting 50L in a savings account which will earn only 3% interest. The extra interest you could have earned at other places, would still be worth higher than any benefit you might be getting from the card

I have made multiple big FDs (ranging between 40-75 L ) in bank, better than simply keeping in saving account.

 

[TheGuy]

I have made multiple big FDs (ranging between 40-75 L ) in bank, better than simply keeping in saving account.

Nishan, what about tax implication? What is intended use btw- HL DownPayment? I think LiquidETF which has unit creation/price increase (forgot which one it actually is) is better as no tax until redemption.

 

[Nishan11]

Nishan, what about tax implication? What is intended use btw- HL DownPayment? I think LiquidETF which has unit creation/price increase (forgot which one it actually is) is better as no tax until redemption.

No FD is in my or spouse name as i am state govt officer, spouse is central govt officer .

All Fds are for senior citizen. Dad is Surgeon, mom is CA, grandfather is retired central govt officer. Grandmother is retired Banker.

Not getting into details, everything is done keeping all IT rules in mind.

 

[Dragon_slayer]

I have made multiple big FDs (ranging between 40-75 L ) in bank, better than simply keeping in saving account.

Agree to it.

 

[Dragon_slayer]

I don't have that much in savings. But there people who have 100s of crores in savings.

It depends on individual.
Jiske paas andha paisa hai usko fark nhi padta.

I think it depends on how they got that money, mostly its people with inherited money who act like this. No one is stupid to keep 100 cr in savings bank unless they need that money immediately.

 

[TheGuy]

Not getting into details, everything is done keeping all IT rules in mind.

nice mate.

Dad is Surgeon, mom is CA, grandfather is retired central govt officer. Grandmother is retired Banker.

BTW quite good and rich background your family has. I wouldn't be surprised if you are Level 10 Officer (56,100 i.e. DAGO) 🙀 .

 

[theflash]

RBL signature ( 2l ) they will ask 4 but does I'n 2 ( your negotiation)

Not a worthy Bank IMO

 

[chadsterpiece]

Idfc wealth - NTB ( or 2nd account)
Hdfc imperia - ( customized account number+ imperia )
Icici wealth management
Yes granduer ( wait for someone marque to get processed
RBL signature ( 2l ) they will ask 4 but does I'n 2 ( your negotiation)

None of these cards say they come with an initial funding of the mentioned amounts on their sites. Rather, AMB of the same. Am I missing something here?

 

[theflash]

wait for someone marque to get processed

Mine done ....