HDFC Preferred Vs Axis Bank Priority Vs IndusInd Bank Exclusive Savings Account!

[BankExpertIndia]

Dear Community Members

I Am Currently Having HDFC Savings Max Account With Preferred Banking Program For Me And My Family. I Got It By Maintaining 2L AMB. Now I Am Looking To Open Another Savings Bank Account.

Now,
In Axis Bank (Priority) - I Have To Maintain It With 2L AMB. As No One Was Offering For Free To Me.
In IndusInd Bank (Exclusive) - I Am Getting This Account By Getting A General Insurance From IndusInd Bank.

So Please Do Suggest Me For Which Account Should I Go To Next.

Reason : Want A Good Banking Experience & Want To Have The Premium Credit Cards Of All Major Banks.

Thanking You In Advance!

 

[Jitendra P]

Indusind Exclusive is the best. Very good benefits on DC. Also I got pre approved LTF legend CC within 2 months of account opening.

 

[pranavcool]

If you really want premium CCs for Axis, go for Burgundy not Priority ... I opened Priority but then I didn't know about everything 100% ... I will upgrade to Burgundy ASAP

Will you get magnus ltf?

 

[BankExpertIndia]

If you really want premium CCs for Axis, go for Burgundy not Priority ... I opened Priority but then I didn't know about everything 100% ... I will upgrade to Burgundy ASAP

@anirbanm As Of Now I Can’t Maintain The Required Amount Of Axis Burgundy. So I Can Go For Priority As Of Now.

 

[BankExpertIndia]

If you really want premium CCs for Axis, go for Burgundy not Priority ... I opened Priority but then I didn't know about everything 100% ... I will upgrade to Burgundy ASAP

@anirbanm One Piece Of Advice For You Brother. Do Open A New Account If You Want To Get Axis Burgundy As These Axis Bank People Will Take So Much Time Of Yours. As They Have To Take Many Approvals To Upgrade Somebody To Burgundy.

 

[Souvik]

I don't think you need to
5L initial deposit is good enough

I've heard from many that they rarely downgrade

5L AMB in savings i reckon for Burgundy, what is the TRV for Burgundy can you help..

 

[Souvik]

@anirbanm One Piece Of Advice For You Brother. Do Open A New Account If You Want To Get Axis Burgundy As These Axis Bank People Will Take So Much Time Of Yours. As They Have To Take Many Approvals To Upgrade Somebody To Burgundy.

True not only axis even HDFC too....This time since I am changing my job I am hoping I will open a new salary account instead of begging these guys to upgrade old ones.

 

[Souvik]

No it's 5L initial deposit
See Axis employees don't want Burgundy accounts for many reasons

But 5L initial deposit and keeping good transactions is good enough

Throw some light as to why they do not want Burgundy accounts.

 

[Harry1]

No it's 5L initial deposit
See Axis employees don't want Burgundy accounts for many reasons

But 5L initial deposit and keeping good transactions is good enough

I am still struggling to upgrade from priority to Burgandy despite having tons of FD for almost 1.5 years now.

Have stopped putting salary into this account as well since last 5 months, but no conversion to savings account yet either.

 

[Souvik]

I am still struggling to upgrade from priority to Burgandy despite having tons of FD for almost 1.5 years now.

Have stopped putting salary into this account as well since last 5 months, but no conversion to savings account yet either.

That's news for me, as I am planning to go for a new salary account in a MNC and was hoping to consider Axis as an option provided i get a higher variant account like Burgundy or at least Priority.

In HDFC if you're eligible to move from Preferred to Imperia it shows up in Offers section of Net banking and it's a matter of 2-3 clicks, i think the upgrade process is automated and I managed to upgrade it myself since my RM (HDFC Sadashivnagar) is from Neptune and he is less bothered about my materialistic ambitions.

 

[Souvik]

Axis systems are not so smooth and uncoordinated ... Lot of nonsense with Axis

True during my salary account opening for my existing organisation they delayed a hell, ultimately putting the blame on me saying I have previous records of fraud and all that.

I had to visit the branch to get those people to expedite things. Axis Bank Jayanagar branch Bangalore.

 

[adjjoshi]

That's news for me, as I am planning to go for a new salary account in a MNC and was hoping to consider Axis as an option provided i get a higher variant account like Burgundy or at least Priority.

In HDFC if you're eligible to move from Preferred to Imperia it shows up in Offers section of Net banking and it's a matter of 2-3 clicks, i think the upgrade process is automated and I managed to upgrade it myself since my RM (HDFC Sadashivnagar) is from Neptune and he is less bothered about my materialistic ambitions.

You have to wait for atleast 3 months salary credit (>1L) to upgrade to Priority Salary account in Axis.
To upgrade Axis Salary account, Go to Services >> Account >> Update Employer/Migrate to Salary Account >> Upload offer letter, 3 months Salary Slip and Company ID Card.
For Burgundy Salary account, monthly salary should be >3L

 

[Souvik]

You have to wait for atleast 3 months salary credit (>1L) to upgrade to Priority Salary account in Axis.
To upgrade Axis Salary account, Go to Services >> Account >> Update Employer/Migrate to Salary Account >> Upload offer letter, 3 months Salary Slip and Company ID Card.
For Burgundy Salary account, monthly salary should be >3L

Okay thanks i already have an axis salary account in my existing company and planning to join my next company in July, will keep your ideas in mind.

 

[kjs]

What is the salary credit reqd for hdfc preferred ?

 

[Salvo08]

IndsInd Exclusive will be any day better as the Signature Exclusive Debit Card provides better benefits as compared to Axis Priority and HDFC Preferred like one on one movie ticket upto ₹500, cashback, insurance, Lounge access apart from minor ones like no demat AMC for two yrs and 50% off on locker charges. And one only needs to maintain 1Lakh AMB (IN 99% locations as website will say 1/2Laks as AMB depending on location).

 

[Salvo08]

I am still struggling to upgrade from priority to Burgandy despite having tons of FD for almost 1.5 years now.

Have stopped putting salary into this account as well since last 5 months, but no conversion to savings account yet either.

The moment you maintain 10Lakh AMB they will upgrade the account to Burgundy in 3 days. That's Axis for us.

 

[Salvo08]

Throw some light as to why they do not want Burgundy accounts.

The benifits provided are below par than the Interest one is losing by maintaining that AMB. For Burgundy the initial deposit is ₹5 Lakhs but you need to maintain 10 Lakhs in AMB or 30 lakhs in FDs. AU Bank is offering 8% on FDs of 36 months, IDFC is offering interest of 6.75% on balance above 10 Lakhs credited on monthly basis whereas Axis gives you normal rate on that AMB.

 

[Salvo08]

5L AMB in savings i reckon for Burgundy, what is the TRV for Burgundy can you help..

₹5 Lakhs is only for the initial deposit. One needs to maintain 10 Lakhs AMB for Burgundy or FDs of 30 Lakhs. Think the TRV including demat account is ₹1 Cr if I remember correctly.