How many bank accounts do you have and for what purposes?

[raghavx]

I hold following bank accounts

1. ICICI Bank (Savings) - For salary crediting and investments
2. IDFC First Bank (Savings) - for savings purposes, it gives good rate of interest.
3. DBS - Idk why I am still holding this.
4. Paytm Payments Bank - Had opened it long back, not sure why I am holding this too.
5. Fi.money - For day to day transactions as my primary savings account would get cluttered with few hundred rupees transactions.
6. Jupiter - Had opened alongside with Fi, thinking to close this.

 

[aswinsegu]

I have following Bank accounts

Bank	Type	MAB
HDFC Bank - Individual - Joint	Preferred	2 L per Customer ID/Family Group
ICICI Bank	Wealth	10 K (Previous Employer)
IndusInd Bank	Exclusive	0 (Promotional Offer)
Kotak Mahindra Bank	Privy League - Neon	10 K (Previous Employer)
State Bank of India (SBI)	Savings Plus	0

Mostly use HDFC x 2 and SBI accounts for day to day activities.
Maintaining ICICI, IndusInd & Kotak for upgraded status benefits such as Nil DD charges etc.

 

[firesnake.nik]

CitiBank - (Previous Salary) Now used for all Credit Card Payments- From 2000
CorpBank(aka UBI) - (Previous Salary) - Now used for UPI as Backup - From 2002
ICICI Bank (Investment-MultipleFDs) - Unsused - From 2003
HDFC (Present Salary) Only Salary Credit move funds to other accounts - From 2005
Bank Of India (Investments) - From 2008
Bank Of India 2nd (Primary Account for UPI/Debit Card payments) - From 2020
Kotak (Opened as 811 zero bal) - planning to close CorpBank or BOI 2nd) - From 2023

Planning to add 1 BSBD Account mapped to 2nd phone number as complete emergency funds account

 

[thechirag]

2 for general use
1 for salary
1 for savings

 

[thechirag]

Need to open 1 new for some extended benefits with some high AMB around 25k

 

[Tejo]

ICICI Wealth select - Salary and Savings account (main )

HDFC preferred - Savings regular

KOTAK - old salary account
(converted zero savings )

FI ACCOUNT - International transactions

SBI - Student account (old)

Kotak allowed to convert salary zero sb?

Bsbd?

 

[firesnake.nik]

Kotak allowed to convert salary zero sb?

Bsbd?

Since my usage will be less than 2-3 transactions in 6 months dont want to have account which needs SMS charges and Debit card charges or any changes to account schedule going further. Only criteria is I dont have any account with the bank. If any account is present it would be closed automatically. So I'm looking at banks which i'm not holding any relationship.

Basic Savings Bank Deposit Account (BSBDA)​

The Basic Savings Bank Deposit (BSBD) Account has been designed as a savings account which will offer certain minimum facilities, free of charge, to the holders of such accounts.

Minimum Common Facilities​

• The ‘Basic Savings Bank Deposit Account’ should be considered a normal banking service available to all.
• This account shall not have the requirement of any minimum balance.
• The following basic minimum facilities will be offered in the BSBD Account, free of charge, without any requirement of minimum balance.

1. The deposit of cash at bank branch as well as ATMs/CDMs
2. Receipt/ credit of money through any electronic channel or by means of deposit /collection of cheques drawn by Central/State Government agencies and departments
3. No limit on number and value of deposits that can be made in a month
4. Minimum of four withdrawals in a month, including ATM withdrawals
5. ATM Card or ATM-cum-Debit Card

• No charge will be levied for non-operation/activation of in-operative ‘Basic Savings Bank Deposit Account’.
• Banks are free to provide additional value-added services, including issue of cheque book, beyond the above minimum facilities, which may/may not be priced (in non-discriminatory manner) subject to disclosure. The availment of such additional services shall be at the option of the customers. However, while offering such additional services, banks shall not require the customer to maintain a minimum balance. Offering such additional services will not make it a non-BSBD Account, so long as the prescribed minimum services are provided free of charge.
• The BSBD Account shall be subject to RBI instructions on KYC/AML for opening of bank accounts.
• Holders of ‘Basic Savings Bank Deposit Account’ will not be eligible for opening any other savings bank deposit account in that bank. If a customer has any other existing savings bank deposit account in that bank, he/she will be required to close it within 30 days from the date of opening a ‘Basic Savings Bank Deposit Account’.
• The minimum free withdrawals available to the BSBD Account holders can be made at all ATMs (own-bank/other bank ATMs).

 

[cch]

Axis Priority Salary account: Salary Credits, credit card payments
Yes Bank First Family Account: Investments
Paytm: Not sure, will mostly close this
Fi: Wanted to try it, never used it though. Will likely close this

Almost all my spends are through credit cards only. Only use of accounts us for small UPI payments, CC payments and Investing.

 

[imrtbpsp]

I hold following bank accounts

1. ICICI Bank (Savings) - For salary crediting and investments
2. IDFC First Bank (Savings) - for savings purposes, it gives good rate of interest.
3. DBS - Idk why I am still holding this.
4. Paytm Payments Bank - Had opened it long back, not sure why I am holding this too.
5. Fi.money - For day to day transactions as my primary savings account would get cluttered with few hundred rupees transactions.
6. Jupiter - Had opened alongside with Fi, thinking to close thi

I hold following bank accounts

1. ICICI Bank (Savings) - For salary crediting and investments
2. IDFC First Bank (Savings) - for savings purposes, it gives good rate of interest.
3. DBS - Idk why I am still holding this.
4. Paytm Payments Bank - Had opened it long back, not sure why I am holding this too.
5. Fi.money - For day to day transactions as my primary savings account would get cluttered with few hundred rupees transactions.
6. Jupiter - Had opened alongside with Fi, thinking to close this.

American Express: (now on hold)
HSBC: (Salary Account and Investment)
HDFC: (for daily use)
SBI: (Student and first salary account)
PNB: (related to agricultural land related loans)
Co operative Bank: (Agricultural Land related loans)
Paytm Bank Account: (Not remember I ever opened it used it fes times)

 

[SMGROW]

ICICI Wealth Management - Salary
HDFC Imperia - Daily use

 

[Tosh]

Idfc select - Salary
Hdfc Imperia - MF/Investing/demat etc
SBI - UPI/Daily transactions
Central Bank of India - Closure requires bank visit 😂

 

[imdjay]

1. Bank of India (CLOSED) - first account opened for student loan
2. Kotak Privy - First salary account
3. ICICI Wealth - Again had opened as a salary account.
4. PNB Premium variant - Again had opened as Salary account
5. CITI Preferred - Current Salary account
6. Paytm Bank - for stupid things, just to be safe and separate from main accounts
7. RBL signature banking - for home visits and super service financial and non-financial
8. Gramin bank - needed lack of digital presence
9. IDBI Bank - had opened for a payment offer
10. IDFC First - for digital banking

 

[gunnerTH]

My accounts in order of opening it and purpose
1) ICICI Zero Balance Privelage account.
First account during college days and still active for upi

2) Indus Select Account. (Savings and Current)
Have opened it as it was nearest to my work place. Now use the select debit card to pay most of my credit card bills via cheq or mobikwik and any other debit card transactions (Found it most rewarding and can directly convert reward points to cash)

3) Yes Premia Account
Joint account with my wife, mainly for the high FD rates and Visa Infinte card. YES Rewards are surprisingly good

4) RBL Signature
Locker facility, nearest to my home and Adhar Seva kendra 😄.

5) Most recent ICICI Wealth Management
Home loan, securities, term plan, health insurance, Basically want to eventually move to a single eco system moving forward. Hoping they start Direct MF funds also, that will be great.

 

[Deleted member 8482]

I hold following bank accounts

1. ICICI Bank (Savings) - For salary crediting and investments
2. IDFC First Bank (Savings) - for savings purposes, it gives good rate of interest.
3. DBS - Idk why I am still holding this.
4. Paytm Payments Bank - Had opened it long back, not sure why I am holding this too.
5. Fi.money - For day to day transactions as my primary savings account would get cluttered with few hundred rupees transactions.
6. Jupiter - Had opened alongside with Fi, thinking to close this.

1.HDFC Imperia salary -0 amb
2.Axis 12 K account
3.IDFC 10 K account
4.SCB 50 K account
5.IDBI basic 3K
6.BOM 3K
7.BOB 3K

 

[Deleted member 9785]

All of you make sure the interest showing in all these bank accounts in AIS is tax paid for while filing returns🙂

Five blunders that can invite a tax notice, a penalty or both - Five blunders that can invite a tax notice or penalty

Though interest earned from fixed deposits, recurring deposits, even tax-saving bank deposits and infrastructure bonds, is fully taxable, people often do not report any interest income below Rs 10,000. The exemption of Rs 10,000 a year under Section 80TTA applies only to the interest earned on...

economictimes.indiatimes.com

 

[bibak]

Bank of India (inactive)
SBI (Main account for money )
Airtel money (active)
Paytm (inactive)
Axis (closed)
ICICI (active) for Amazon
HDFC (active) opened in dec 2022 for db offer
Planning to close : ICICI, airtel,

Credit card : IDFC Wow (10k) fd closed
RBL bank Pre Approved (35k) active

Bank of India (dormat)
UCO bank (college ) dormat
SBI (Main account for money )
Airtel money (active)
Paytm (inactive)
Axis (closed)
ICICI (closed) for Amazon pay card
HDFC (active) 5k mab opened in dec 2022 for db offer
Planning to close : ICICI, airtel, (closed )

Credit card : IDFC Wow (10k) fd closed
RBL bank Pre Approved (35k) active

 

[xarterx]

3 Bank Accounts.
ICICI Privilege: Salary Account.
HDFC Imperia: Investments / Savings.
SBI: All transactions like UPI / ATM / Payments (CC etc)

3 Credit Cards:
HDFC Rupay Card: For all UPI Transactions
Axis Airtel: For all bill payments.
Amazonpay ICICI: For all Amazon Payments

 

[RadioactiveTabela]

Hello folks, I have these:

Bank	Type	MAB	Purpose	What I like	What I don't like
IDFC First	Dynamic Business Account (Current Account)	0	All professional receipts + professional expenses	- Very fuss free with no charges on DD issue, cheques, cash deposit. -- Don't ever pester me with cross selling garbage ULIPs or whatever. - Visa Signature debit card has lounge access.	- Forex rates aren't very good when receiving funds from foreign clients, Bank of Baroda rates were much better. - Rejected my credit card applications despite reasonable AQB maintained.
Bank of Baroda	Advantage Savings	INR 2000	All savings, emergency funds. Linked to PFF, Demat, Mutual Funds, etc.	- Fantastic mobile app, haven't visited branch in years. - My branch is very professional and helpful, responds to emails quick. - Don't ever pester me with cross selling garbage ULIPs or whatever.	- Debit card has no perks, I'm considering an upgrade to a useful one like Visa Sapphire or Rupay Select. ​
DBS	digibank savings	INR 5000	Everyday transactions, UPI etc	- Good mobile app with useful spend tracking. - Quick with chargebacks, fraud protection, refunds, etc. - Don't ever pester me with cross selling garbage ULIPs or whatever.	Debit card charges are too high for what it offers.
SBM India	Niyo Global	INR 0	Foreign spends	0% forex markup	- Downtime constantly. - Useless customer support. - Debit card is now worthless. - Credit card (against FD) has no benefits except forex spends during their occasional uptime.

Questions:

1. How to get better forex rates from IDFC First? Branch manager has been of no use.

2. Bank of Baroda basic rupay debit card is useless. I am considering an upgrade to Rupay Select or Visa Saphhire. Which one? Why? How's your experience?

3. SBM / Niyo has generally been poor experience. Any better options savings account / debit card options for zero / low forex markup?

 

[ashwinkashwink is verified member.]

2. Bank of Baroda basic rupay debit card is useless. I am considering an upgrade to Rupay Select or Visa Saphhire. Which one? Why? How's your experience?

Rupay Select

3. SBM / Niyo has generally been poor experience. Any better options savings account / debit card options for zero / low forex markup?

Consider Indusind Exclusive Account (0 MAB with Pinnacle Credit Card) or (special occasional zero mab offers from bank with huge initial funding) or 100K MAB.


ICICI Bank Wealth Management account is also beneficial if you consider.

 

[xarterx]

Idfc select - Salary
Hdfc Imperia - MF/Investing/demat etc
SBI - UPI/Daily transactions
Central Bank of India - Closure requires bank visit 😂

So where do you prefer to keep your emergency fund? or where do you keep ur FDs?
And what credit cards do you use?

 

[Tosh]

FD goes to whatever bank gives the best rate. Emergency Fund stays with HDFC in case a really good investment opportunity presents that saves me a transfer.

I use DCB for 99% of my spends. I have other cards but use them only for bank specific or app specific offers.