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.

 

[RadioactiveTabela]

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.

I see 100k MAB requirement for individual account: https://www.indusind.com/in/en/personal/accounts/saving-account/indus-exclusive.html

How`to get it with 0 MAB? I have no exisiting relationship with Indusind.

 

[ashwinkashwink is verified member.]

I see 100k MAB requirement for individual account: https://www.indusind.com/in/en/personal/accounts/saving-account/indus-exclusive.html

How`to get it with 0 MAB? I have no exisiting relationship with Indusind.

Get Pinnacle Credit Card

 

[4uziaul]

It is easier to obtain a Legend Card and use it as a surrogate to acquire a Select account, which will effectively have Zero MAB requirement. There is minimal difference between an Exclusive and Select account, except for the first year free locker facility and zero Markup fees. The Legend Card is a LTF card with no joining fees, and you can apply for it on CashKaro to receive additional gift vouchers. On the other hand, the Pinnacle Card may charge you up to 15k as joining fees, but it becomes LTF after that.

 

[CCgeeks]

Rupay Platinum DC has definitely given Savings account to many banks😀

😂😂

 

[MusicalMind]

HDFC Gold speciale
Axis Easy access
SBI
Fi

 

[xarterx]

As i have seen in this post..
Most people have:
1 Salary Acc
1 Investment Acc
1 Savings Acc
1 Expenses Acc (UPI etc)

So i am wondering why the investment and savings Acc can't be just merged into one? I have merged it to my HDFC, and i wanna figure out what's the benefit i am losing out?

 

[CC-Muncher]

As i have seen in this post..
Most people have:
1 Salary Acc
1 Investment Acc
1 Savings Acc
1 Expenses Acc (UPI etc)

So i am wondering why the investment and savings Acc can't be just merged into one? I have merged it to my HDFC, and i wanna figure out what's the benefit i am losing out?

Upi is these days separate as everyone uses rupay credit card

 

[RadioactiveTabela]

As i have seen in this post..
Most people have:
1 Salary Acc
1 Investment Acc
1 Savings Acc
1 Expenses Acc (UPI etc)

So i am wondering why the investment and savings Acc can't be just merged into one? I have merged it to my HDFC, and i wanna figure out what's the benefit i am losing out?

I can think of 2 reasons:

1. The savings account can be shifted easily to a bank giving better rates. Moving investment account is painful, as that requires updating MF folios, PPF, demat, etc.

2. People into trading might like to separate. Loading limited funds from investment account, while savings accounts accumulates non-tradable funds.

 

[RadioactiveTabela]

Get Pinnacle Credit Card

Seems unlikely I’ll get this LTF without good TRV with IndusInd. Annual fee is too high just for forex benefit of Exclusive account.

 

[4uziaul]

Seems unlikely I’ll get this LTF without good TRV with IndusInd. Annual fee is too high just for forex benefit of Exclusive account.

Pinnacle is a lifetime free card; you only have to pay the one-time joining fee.

 

[RadioactiveTabela]

Pinnacle is a lifetime free card; you only have to pay the one-time joining fee.

I meant that also waived. But I assume they give some voucher on fee payment, so I might consider applying if I need the voucher.

 

[palen]

As i have seen in this post..
Most people have:
1 Salary Acc
1 Investment Acc
1 Savings Acc
1 Expenses Acc (UPI etc)

So i am wondering why the investment and savings Acc can't be just merged into one? I have merged it to my HDFC, and i wanna figure out what's the benefit i am losing out?

In my case, I have only one bank account HDFC 😂.

 

[iamabhisekagar]

1. SBI savings account for investmentsA
2. Axis Liberty
3. Kotak 811
4. Intend to open an IDFC S/A as soon as a branch opens in my city
5. Intend to open a Current Account whichever gives the best deal in future
6. Intend to open a bank account for foreign funds transaction in future

 

[irohitpragya]

Bank​	Account Type​	Purpose​
Paytm Payments Bank	NA	For all UPI transactions Any quick fund transfers as they show the account holder's name before transfer. Helps with verification!!
ICICI Bank	Silver	Investments
Kotak Mahindra Bank	Solo	Old salary account. As I live in a non-serviceable area for their credit cards, and zero pre-approved offers, moved my salary account to SBI a few months ago I actually went to close the account but the banker suggested that I could convert it to the Solo variant which offers zero-balance privilege. Felt it was good advice and took it!
SBI	Silver	Had this account for several years but made it a salary account recently just to maintain a healthy relationship with the country's largest PSU bank. Can't get it converted to a salary variant as the company has no relationship with the bank 🙁 No major benefits as of now - even the account is a Silver savings account despite maintaining a good balance. I wonder if their auto-upgrade even works!

what are charges of Kotak debit card in Kotak solo account?

 

[agentneo]

ICICI : Wealth Management- Oldest and First Account- Earlier used for pocket money I used to get from my parents during college days. Now, I used it for PPF and FDs.
IDFC : Wealth- Emergency funds of 9 month
HDFC : Imperia- Main account, Salary account and Investment account
SBI: Silver- No use now. Opened during college to pay its fees.

Axis: I need suggestion. Which account is good? I want to park my emergency fund of 3 months. Do you recommend any other bank for same?

 

[John Since]

what are charges of Kotak debit card in Kotak solo account?

200+GST

 

[pprakash11]

ICICI : Wealth Management- Oldest and First Account- Earlier used for pocket money I used to get from my parents during college days. Now, I used it for PPF and FDs.
IDFC : Wealth- Emergency funds of 9 month
HDFC : Imperia- Main account, Salary account and Investment account
SBI: Silver- No use now. Opened during college to pay its fees.

Axis: I need suggestion. Which account is good? I want to park my emergency fund of 3 months. Do you recommend any other bank for same?

Axis is the master of debiting charges under CONSOLIDATED CHARGES head, avoid Axis, imo.

 

[agentneo]

Axis is the master of debiting charges under CONSOLIDATED CHARGES head, avoid Axis, imo.

Oh i see. Do you recommend any other bank? Should i park in ICICI then?

 

[TheTrickySid]

ICICI : Wealth Management- Oldest and First Account- Earlier used for pocket money I used to get from my parents during college days. Now, I used it for PPF and FDs.
IDFC : Wealth- Emergency funds of 9 month
HDFC : Imperia- Main account, Salary account and Investment account
SBI: Silver- No use now. Opened during college to pay its fees.

Axis: I need suggestion. Which account is good? I want to park my emergency fund of 3 months. Do you recommend any other bank for same?

You can try Kotak or Indusind

 

[pprakash11]

You can try Kotak or Indusind

@agentneo 👆🏻