Hi friends, this conversation has been quite interesting! I read through the entire thread as I've also been on the lookout for a good HNI bank.
I’ve been with HDFC for the past 20 years, currently holding an Imperia account along with the Infinia credit card (plus Tata Neu, Swiggy, and MB cards). Unfortunately, the relationship manager's support has been almost useless. I've been trying to get a locker for the past two years with no success. Moreover, HDFC's wealth management services haven't met my expectations.
Recently, I decided to switch banks and opened a HSBC Premier account with a first-year fee of ₹12K, which will be waived from next year if I can reach a TRV of ₹40L by year-end. My plan was to achieve this by transferring some existing investments and adding more savings. However, I later discovered that their Demat account is chargeable, and they don’t assist with direct investments in shares. While they do support mutual funds, they don’t allow transfers of my existing direct funds, which has been frustrating. At this point, I've almost given up on HSBC.
Last week, Axis Bank approached our office with an offer to open salary accounts. They offered the Burgundy savings account (for salaries over ₹2L) with a Select credit card as LTF. Since I already hold Magnus, Atlas, and Vistara cards, the Select card doesn't appeal to me. I requested a Magnus card under Burgundy as LTF, but they declined, though they mentioned it might be possible in the future with no commitments.
I’m now seriously considering moving my salary account to Axis. The primary reason is that the RM I spoke to is a former Citibank employee, and he assured me there will be significant improvements at Axis post-merger with Citibank. I've heard positive things about Citibank in the past, so I’m hopeful Axis might offer better services in the future.
Of course, if they fail to meet expectations, I can always explore other options.
