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HNI Banking Thread 2024

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My experience:

ICICI Wealth Management : Not bad, Not good. No nonsense bank for long term if you don't expect anything fancy. Never visited bank in a decade. Almost anything can be done either through net banking or phone banking. Same applies for credit cards to.

IDFC Wealth : RM keeps changing frequently. Some decent but some RM and their zonal head irritate to sell Ulips month after month. Not a premium experience till date for me. They have LTF wealth card. So no harm in having it for IDFC offers.

HDFC Preferred : Imperia is useless for TRV so didn't opt for it. You get pretty much same treatment across HDFC account variants is what I heard. RM irritates to sell ulips during initial days and dies down as you refuse. Peaceful after few months. In HDFC i felt it is about your relationship with BM. You can make a FD and get something lucrative by talking to BM directly. Got Infinia with just 10L FD for a month. Of course with promise of more business in future and I had qualified spends/income 🙂 HDFC has one of the no nonsense credit card portfolios without frequent meddling and good rewards.

Axis priority: RM doesn't even call. I like it and relatively useless if we call 🙂 . Burgundy with TRV is an overkill if one cannot get it with salary. Now with LTF magnus burgundy not possible I feel it is waste of locking money. Old Magnus was unsustainable and in the spree for course correction they got lost. Presently I lost trust in Axis due to frequent meddling with products !

My 2 cents !
 
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prabanomics said:
My experience:

ICICI Wealth Management : Not bad, Not good. No nonsense bank for long term if you don't expect anything fancy. Never visited bank in a decade. Almost anything can be done either through net banking or phone banking. Same applies for credit cards to.

IDFC Wealth : RM keeps changing frequently. Some decent but some RM and their zonal head irritate to sell Ulips month after month. Not a premium experience till date for me. They have LTF wealth card. So no harm in having it for IDFC offers.

HDFC Preferred : Imperia is useless for TRV so didn't opt for it. You get pretty much same treatment across HDFC account variants is what I heard. RM irritates to sell ulips during initial days and dies down as you refuse. Peaceful after few months. In HDFC i felt it is about your relationship with BM. You can make a FD and get something lucrative by talking to BM directly. Got Infinia with just 10L FD for a month. Of course with promise of more business in future and I had qualified spends/income 🙂 HDFC has one of the no nonsense credit card portfolios without frequent meddling and good rewards.

Axis preferred : RM doesn't even call. I like it and relatively useless if we call 🙂 . Burgundy with TRV is an overkill if one cannot get it with salary. Now with LTF magnus burgundy not possible I feel it is waste of locking money. Old Magnus was unsustainable and in the spree for course correction they got lost. Presently I lost trust in Axis due to frequent meddling with products !

My 2 cents !
Click to expand...
your 2 cents almost worth 98 cents !!
 
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prabanomics said:
My experience:

ICICI Wealth Management : Not bad, Not good. No nonsense bank for long term if you don't expect anything fancy. Never visited bank in a decade. Almost anything can be done either through net banking or phone banking. Same applies for credit cards to.

IDFC Wealth : RM keeps changing frequently. Some decent but some RM and their zonal head irritate to sell Ulips month after month. Not a premium experience till date for me. They have LTF wealth card. So no harm in having it for IDFC offers.

HDFC Preferred : Imperia is useless for TRV so didn't opt for it. You get pretty much same treatment across HDFC account variants is what I heard. RM irritates to sell ulips during initial days and dies down as you refuse. Peaceful after few months. In HDFC i felt it is about your relationship with BM. You can make a FD and get something lucrative by talking to BM directly. Got Infinia with just 10L FD for a month. Of course with promise of more business in future and I had qualified spends/income 🙂 HDFC has one of the no nonsense credit card portfolios without frequent meddling and good rewards.

Axis priority: RM doesn't even call. I like it and relatively useless if we call 🙂 . Burgundy with TRV is an overkill if one cannot get it with salary. Now with LTF magnus burgundy not possible I feel it is waste of locking money. Old Magnus was unsustainable and in the spree for course correction they got lost. Presently I lost trust in Axis due to frequent meddling with products !

My 2 cents !
Click to expand...
Thanks that explains a lot. Currently I feel I will go with icici with a IP for wealth and talk to hdfc for salary account. Use relationship as a way to get cc.
 
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Rdspam said:
Not sure about dbs but hsbc and scb are verry poor experiences. Scb the app itself barely works most times and hsbc doesn’t even have basic facilities like imps. Hsbc still has a lot of growth needed in India. Not sure what’s SCBs excuse since they have been here since decades
Click to expand...
Are you talking about their private banking services?
I have had decent experience with SCB priority
Can't comment on HSBC as yet to experience
 
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Based on my experience for many years, I would recommend HDFC imperia - as it has most products that you will look for including Infinia and possibly Infinity, and they have good balance sheet and stable and you will get infinia in some time if you keep requesting (I paid fees for 2 years, 3rd year onwards its LTF including DCB LTF), and possibly Infinity in future as well.

Suggestion, diversify your risk by getting 2+ HNI account like HDFC, ICICI, etc. And use their product which is best suited to your needs.

ICICI - good tech savvy Bank, sometime received Wealth management basis of credit card only, not sure how though, so nothing wrong in trying.

HSBC Premier- its been short run, but not great experience with Bank or RM either, I have zero balance currently and they are not Issuing Premier credit Card for free. I plan to use them only for item I will get benefit out of it.

Note : IDFC - I noted from my experience most of the people are not knowledgeable and keep holding on the transaction, (I have asked them one question they are yet to close since last 2 months🙂, so I skipped mentioning above.


Keep us posted what you finally choose.
 
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KumarS said:
Based on my experience for many years, I would recommend HDFC imperia - as it has most products that you will look for including Infinia and possibly Infinity, and they have good balance sheet and stable and you will get infinia in some time if you keep requesting (I paid fees for 2 years, 3rd year onwards its LTF including DCB LTF), and possibly Infinity in future as well.

Suggestion, diversify your risk by getting 2+ HNI account like HDFC, ICICI, etc. And use their product which is best suited to your needs.

ICICI - good tech savvy Bank, sometime received Wealth management basis of credit card only, not sure how though, so nothing wrong in trying.

HSBC Premier- its been short run, but not great experience with Bank or RM either, I have zero balance currently and they are not Issuing Premier credit Card for free. I plan to use them only for item I will get benefit out of it.

Note : IDFC - I noted from my experience most of the people are not knowledgeable and keep holding on the transaction, (I have asked them one question they are yet to close since last 2 months🙂, so I skipped mentioning above.


Keep us posted what you finally choose.
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Hi, mostly inline with you. But the HSBC part is a shocker for me as that was my primary choice. I couldn't qualify as my net was lower than 3LPM. I currently hold IDFC Wealth Banking and mostly will move salary to HDFC, Imperia I don't think I will get but as per others its not much of a difference. So will try for it but not sure . If you have a good Bangalore RM, or BM for HDFC do send across.
Second one i plan on using is ICICI wealth. I have preferred account with them for over 4 years now so will do the IP route to Wealth i think 5L , but heard many got it done in 1 L also so will see.
 
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theboogeyman said:
Hi, mostly inline with you. But the HSBC part is a shocker for me as that was my primary choice. I couldn't qualify as my net was lower than 3LPM. I currently hold IDFC Wealth Banking and mostly will move salary to HDFC, Imperia I don't think I will get but as per others its not much of a difference. So will try for it but not sure . If you have a good Bangalore RM, or BM for HDFC do send across.
Second one i plan on using is ICICI wealth. I have preferred account with them for over 4 years now so will do the IP route to Wealth i think 5L , but heard many got it done in 1 L also so will see.
Click to expand...
For RM, I would simply visit couple of branches and see how they talk, request them that you have x amount as salary just shy of 30k from eligibility and request meeting with Branch Head and request need waiver of eligibility to open imperia 1/3 branches may accept your request and give you time say 3-6 month to fund your account using slightly higher IP. All the best 👌


Regarding HSBC premier, I haven't use much of their banking services so don't know much, regarding premier card, it was free last year both joining and annual, this year they are charging joining fees, again not a great fan of this kind of negative changes.
 
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KumarS said:
For RM, I would simply visit couple of branches and see how they talk, request them that you have x amount as salary just shy of 30k from eligibility and request meeting with Branch Head and request need waiver of eligibility to open imperia 1/3 branches may accept your request and give you time say 3-6 month to fund your account using slightly higher IP. All the best 👌


Regarding HSBC premier, I haven't use much of their banking services so don't know much, regarding premier card, it was free last year both joining and annual, this year they are charging joining fees, again not a great fan of this kind of negative changes.
Click to expand...
Ah ok, we have a tieup with hsbc so if your net is >=3LPM premier no joining or renewal but i guess thats only for our org
 
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KumarS said:
For RM, I would simply visit couple of branches and see how they talk, request them that you have x amount as salary just shy of 30k from eligibility and request meeting with Branch Head and request need waiver of eligibility to open imperia 1/3 branches may accept your request and give you time say 3-6 month to fund your account using slightly higher IP. All the best 👌


Regarding HSBC premier, I haven't use much of their banking services so don't know much, regarding premier card, it was free last year both joining and annual, this year they are charging joining fees, again not a great fan of this kind of negative changes.
Click to expand...
Tomorrow will go to a few branches and talk to them. Are you from Bangalore if yes if you can suggest some good branches
 
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theboogeyman said:
Tomorrow will go to a few branches and talk to them. Are you from Bangalore if yes if you can suggest some good branches
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I am from Mumbai, the trick is to look for long term, show them the north star that you may take other things in future as well, most of the time they would not like to leave a HNI prospect for few thousand.
 
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m4b said:
interesting, even my ex employer has the tie-up and I talked to the Axis management team to relax the criteria so that I can put my team in Burgundy 😛.
Well they denied
Click to expand...
There are two tiers of tie-ups. One tier has 2Lpm requirement and other tier has 3Lpm requirement.
 
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