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Eligibility Criteria for ICICI Emeralde Private Metal - Discussion
So if you keep sister-in-law happy then wife also happy?
Application was initiated on 17th February, approved on 20th February.
Your RM/BM is super fast. Hope everyone has similar ones
Share RM details so i can bully
MrNobody
TF Select
So guys...
I think I found out why the RMs and BMs are not so keen about helping us guys get EPM. I just had a sit down with my RM and BM and talked with them. I did them a personal favour so they called credit card head of the region for getting me EPM and the guy told them that none of them would get any incentive/credit/sells for this and my RM told him to help anyway because of the favour. Now not getting anything out of this is a big disincentive for any RM to get through the hassle of getting so many layers of approval.
So all in all, if you have a carrot or stick to incentivise for the RM, do it, that may be the only constant here.
Other numbers of minimum requirements are just their way of asking for you to contribute to their sells quota for their efforts.
I think I found out why the RMs and BMs are not so keen about helping us guys get EPM. I just had a sit down with my RM and BM and talked with them. I did them a personal favour so they called credit card head of the region for getting me EPM and the guy told them that none of them would get any incentive/credit/sells for this and my RM told him to help anyway because of the favour. Now not getting anything out of this is a big disincentive for any RM to get through the hassle of getting so many layers of approval.
So all in all, if you have a carrot or stick to incentivise for the RM, do it, that may be the only constant here.
Other numbers of minimum requirements are just their way of asking for you to contribute to their sells quota for their efforts.
Happy to settle with 1-2% less RP on INFINIA 🤣
Dobbiee
TF Premier
Dont think RM/BM gets any incentive for issuing any credit cards to the customers. Never felt so. I may be wrong.
Its part of the privileged service that they do to keep customers happy.
They get incentive when we take loans, policies etc through them. Once my RM had requested to take his help in buying products, as it counts in his sales.
But he never offered me banks credit cards.
Dobbiee
TF Premier
TRV > 1cr? …
Yes, TRV is more than this.
But my sis-in-law trv with bank is not that much. She only fulfilled salary criteria & has salary account with ICICI but in another city.
ICICI WM is just a moh-maya. If you see features and benefits, it looks like you get something special. But it's just the black color theme.
To start with an ICICI relation, one can get the 0MAB Privilege banking. That itself has almost all features free of cost. But like I told earlier, none of the offline branches allow it as 0 initial funding. You must be lucky to find some branch that offers it truly 0. But privilege is not at all privileged. It's their basic account.
Next is salary account - that's easy to get, same as 0 MAB privilege. You will get it without IP. But some features are not available there also - like family banking. We have to fight for that. (Like someone had posted a comment in one of the threads). But when salary stops, based on your luck, you can either continue it as 0 MAB, or sometimes they downgrade to 10k MAB normal savings account.
Next is WM - most confusing among all. No one in the bank has a clear idea of what is the TRV or salary requirements. It starts from 50L. Based on your luck you can be upgraded. We get an ATM card with higher withdrawal limits (a feature that no one uses!). The only benefit is lounge access using debit card (I think without spend criteria). If we link our demat and MF holdings, then TRV gets covered, but IP (2L or above) for account opening is still required.
Next is WM through salary account - no family banking benefits and high risk of downgrade if TRV is not met. Basically another useless feature.
Someone said Wealth Select is no longer offered, so next is Private Banking - if TRV is more than 5cr. But I really think if our investments are more than 5cr, it's better to go to another bank that really offers some value - like HSBC or HDFC, or even SBI.
Since ICICI is one of the largest banks in India, has stable products, and expects or hope to launch good credit cards and offers, people want to stay with them, rather than going to a different bank. It's like known devil is better than unknown angel.
ICICI is very much like a sarkari bank in all aspects. We should be lucky to get a good BM/RM if we need any other benefits and better relationship. That is like searching a needle in the haystack.
Dobbiee
TF Premier
The reason why I am asking this, as I am feeling that ICICI is offering EPM to salaried and for business they are unclear about the criteria.
I am salaried.
MrNobody
TF Select
They do actually, when RM refers customers to a credit card sales guy or puts an entry into the system, they put in the employee ID. So this counts towards their sales in one way or another.
But EPM doesn't, not for RM, BM, or Credit card sales guys. So no one is enthusiastic to sell it.
pranjal1984
TF Premier
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That is why if someone uses Emeralde PVC of limit 6 lakhs or more and does considerable spends there is high chance of getting auto upgrade to EPM through iMobile or Net banking than to get it through branch /RM. Because Branch/RM need to justify the salary/ TRV /PPOK criteria to generate the invite and get it approved from higher ups.
