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.

 

[Astraea]

Greetings, I require assistance in choosing 4 accounts from the following options:

1. Salary
2. Savings
3. Investment
4. Daily UPI transaction

Here is a list of my current bank accounts:

1. SBI (0 AMB)
2. CANARA BANK - EPFO Pension (2500 AMB)
3. HDFC - Salary account (0 AMB)
4. Kotak 811 - Savings account (0 AMB)
5. Fi - Federal Bank (0 AMB)
6. IDFC - Initially a salary account, later converted to a savings account (25000 AMB)

Please note that the EPFO pension is from my late father's account after his passing in 2021.

Kindly advise on which two accounts I should consider closing.

 

[AritraSaha]

Greetings, I require assistance in choosing 4 accounts from the following options:

1. Salary
2. Savings
3. Investment
4. Daily UPI transaction

Here is a list of my current bank accounts:

1. SBI (0 AMB)
2. CANARA BANK - EPFO Pension (2500 AMB)
3. HDFC - Salary account (0 AMB)
4. Kotak 811 - Savings account (0 AMB)
5. Fi - Federal Bank (0 AMB)
6. IDFC - Initially a salary account, later converted to a savings account (25000 AMB)

Please note that the EPFO pension is from my late father's account after his passing in 2021.

Kindly advise on which two accounts I should consider closing.

Salary - HDFC
Investment - SBI
Savings-idfc/kotak811
Upi-kotak811/ get a rupay cc

 

[TheTrickySid]

Greetings, I require assistance in choosing 4 accounts from the following options:

1. Salary
2. Savings
3. Investment
4. Daily UPI transaction

Here is a list of my current bank accounts:

1. SBI (0 AMB)
2. CANARA BANK - EPFO Pension (2500 AMB)
3. HDFC - Salary account (0 AMB)
4. Kotak 811 - Savings account (0 AMB)
5. Fi - Federal Bank (0 AMB)
6. IDFC - Initially a salary account, later converted to a savings account (25000 AMB)

Please note that the EPFO pension is from my late father's account after his passing in 2021.

Kindly advise on which two accounts I should consider closing.

My suggestions

1. Salary: HDFC
2. Savings: SBI
3. Investment: Kotak 811(choose such an account which you won't ever change in your life, coz getting the details updated from investment profiles is too much hassle)
4. Daily UPI: Fi/IDFC upon your choice, else I would suggest you to go with Paytm payment Bank for this purpose.

 

[Astraea]

Salary - HDFC
Investment - SBI
Savings-idfc/kotak811
Upi-kotak811/ get a rupay cc

My suggestions

1. Salary: HDFC
2. Savings: SBI
3. Investment: Kotak 811(choose such an account which you won't ever change in your life, coz getting the details updated from investment profiles is too much hassle)
4. Daily UPI: Fi/IDFC upon your choice, else I would suggest you to go with Paytm payment Bank for this purpose.

Thank you guys

 

[kjs]

Greetings, I require assistance in choosing 4 accounts from the following options:

1. Salary
2. Savings
3. Investment
4. Daily UPI transaction

Here is a list of my current bank accounts:

1. SBI (0 AMB)
2. CANARA BANK - EPFO Pension (2500 AMB)
3. HDFC - Salary account (0 AMB)
4. Kotak 811 - Savings account (0 AMB)
5. Fi - Federal Bank (0 AMB)
6. IDFC - Initially a salary account, later converted to a savings account (25000 AMB)

Please note that the EPFO pension is from my late father's account after his passing in 2021.

Kindly advise on which two accounts I should consider closing.

You can infact close 3. Keep salary and investment as 1. In case you still want 4 accounts
Sbi/Kotak 811 - savings , activate autosweep. Use other for UPI
HDFC - Salary
CANARA - can close and tranfer pension to SBI or Kotak 811
IDFC , if you are using offline banking services agressively then 25k account balance maintenance makes sense according to me otherwise close.
If you want 4th Account you can open any other thats closest to your home and use for Investment preferred low balance

 

[Astraea]

You can infact close 3. Keep salary and investment as 1. In case you still want 4 accounts
Sbi/Kotak 811 - savings , activate autosweep. Use other for UPI
HDFC - Salary
CANARA - can close and tranfer pension to SBI or Kotak 811
IDFC , if you are using offline banking services agressively then 25k account balance maintenance makes sense according to me otherwise close.
If you want 4th Account you can open any other thats closest to your home and use for Investment preferred low balance.

My current thoughts are:

- SBI: Investing
- HDFC: Salary ( closet to home and RM will visit home if anything needed)
- Kotak 811: Daily transactions
- IDFC: Savings and Emergency funds (due to its 4% interest rate) ( Close it and move emergency funds to my mom's account)

All four banks are in 500m radius and 10 mins walk away

Unfortunately, Canara Bank has not sent the pension file to EPFO office despite repeated letters from the EPFO officer.

Regarding Fi Bank, I'm contemplating the idea of closing my account, despite the benefits it offers such as 2% cashback of ₹500 per month and Fi coins for Big Basket vouchers.

Additionally, I'm thinking about closing my IDFC bank account and utilizing Kotak for savings, emergencies, and daily transactions. Consolidating the balance in one account could potentially lead to a doubling of spending. This aspect should be taken into consideration, as I avoid using debit cards and UPI wherever emergency funds are allocated.

 

[kjs]

My current thoughts are:

- SBI: Investing
- HDFC: Salary ( closet to home and RM will visit home if anything needed)
- Kotak 811: Daily transactions
- IDFC: Savings and Emergency funds (due to its 4% interest rate) ( Close it and move emergency funds to my mom's account)

All four banks are in 500m radius and 10 mins walk away

Unfortunately, Canara Bank has not sent the pension file to EPFO office despite repeated letters from the EPFO officer.

Regarding Fi Bank, I'm contemplating the idea of closing my account, despite the benefits it offers such as 2% cashback of ₹500 per month and Fi coins for Big Basket vouchers.

Additionally, I'm thinking about closing my IDFC bank account and utilizing Kotak for savings, emergencies, and daily transactions. Consolidating the balance in one account could potentially lead to a doubling of spending. This aspect should be taken into consideration, as I avoid using debit cards and UPI wherever emergency funds are allocated.

Yes keep emergency fund and upi transaction account different. Yes FI can be closed you never know when it freezes account for any reason certainly no time for such nee hassles.
Kotak or Sbi i was telling for emergency fund coz you get FD intrest on idle funds with their Autosweep features.

 

[AritraSaha]

My current thoughts are:

- SBI: Investing
- HDFC: Salary ( closet to home and RM will visit home if anything needed)
- Kotak 811: Daily transactions
- IDFC: Savings and Emergency funds (due to its 4% interest rate) ( Close it and move emergency funds to my mom's account)

All four banks are in 500m radius and 10 mins walk away

Unfortunately, Canara Bank has not sent the pension file to EPFO office despite repeated letters from the EPFO officer.

Regarding Fi Bank, I'm contemplating the idea of closing my account, despite the benefits it offers such as 2% cashback of ₹500 per month and Fi coins for Big Basket vouchers.

Additionally, I'm thinking about closing my IDFC bank account and utilizing Kotak for savings, emergencies, and daily transactions. Consolidating the balance in one account could potentially lead to a doubling of spending. This aspect should be taken into consideration, as I avoid using debit cards and UPI wherever emergency funds are allocated.

The emergency fund... indusind bank also give 4%... you can try the indie account.. 0 balance & free dc...

Aslo rbl bank is the highest 4.25%..

You can activate the kotak active money in the 811 account...
I will say go for this option if you want diclutter your bank expience..

 

[kjs]

The emergency fund... indusind bank also give 4%... you can try the indie account.. 0 balance & free dc...

Aslo rbl bank is the highest 4.25%..

You can activate the kotak active money in the 811 account...
I will say go for this option if you want diclutter your bank expience..

Yes i have opened kotak 811 and using activ money feature , its better than other banks providing high intrest rates as it yeilds 7% intrest as on today (6 month fd ROI) above 25k amount which is decent enough.

 

[AritraSaha]

Yes i have opened kotak 811 and using activ money feature , its better than other banks providing high intrest rates as it yeilds 7% intrest as on today (6 month fd ROI) above 25k amount which is decent enough.

I don't know if it's correct, but some PPL have said that this 25k threshold can be lower at 5k.

 

[Trust Me]

The emergency fund... indusind bank also give 4%...

Not anymore! It's 3.5% upto 1L (w.e.f. 05-08-2023).

 

[raghu.rokda]

If I closed my Bank of Baroda account

Then credit card of Bob will also closed or not

 

[Shubham Yadav]

If I closed my Bank of Baroda account

Then credit card of Bob will also closed or not

No. Both are different.

 

[0xfallup]

If I closed my Bank of Baroda account

Then credit card of Bob will also closed or not

tauba mau close nahi hovat hai

 

[AritraSaha]

If I closed my Bank of Baroda account

Then credit card of Bob will also closed or not

Lol, no.

Both are different....

 

[Hoozy]

Union bank - regular use, saving and salary
Hdfc bank - saving

 

[Rahul Gupta]

Hdfc Preferred Savings: My main account because of home service i get from my branch.
Indusind exclusive: 0 mab account opened in special offer. This is the main account for my FD's and for zero forex also.
Icici Regular savings: Opened for pre-approved cc( I don't know why did i open a basic account for pre-approved cc) will close and open wealth account later to bargain for saphiro LTF.
Axis priority: Opened for pre-approved cc( My area is not serviceable by some banks so thats why i have to get pre-approved cc's) will close once i get cc.
Oriental bank of commerce Now PNB: My oldest account, my parents opened it for me when i was a minor and now i use this account for depositing cash via CDM (CDM machines in PNB are free to use).
Paytm payments bank: For Side transactions and keeping some FD's.
Kotak 811: I don't know why i have this account.
Fi: Same for this one don't know why i have this.
Jupiter: I am just really lazy to close these accounts.

 

[skvignesh]

Hdfc Preferred Savings: My main account because of home service i get from my branch.
Indusind exclusive: 0 mab account opened in special offer. This is the main account for my FD's and for zero forex also.
Icici Regular savings: Opened for pre-approved cc( I don't know why did i open a basic account for pre-approved cc) will close and open wealth account later to bargain for saphiro LTF.
Axis priority: Opened for pre-approved cc( My area is not serviceable by some banks so thats why i have to get pre-approved cc's) will close once i get cc.
Oriental bank of commerce Now PNB: My oldest account, my parents opened it for me when i was a minor and now i use this account for depositing cash via CDM (CDM machines in PNB are free to use).
Paytm payments bank: For Side transactions and keeping some FD's.
Kotak 811: I don't know why i have this account.
Fi: Same for this one don't know why i have this.
Jupiter: I am just really lazy to close these accounts.

You can close fi & Jupiter via in app chat itself.

Jupiter they will close account soon and fi is lazy will take 1 month to close...

Many suggestion kotak 811 is good to have, also kotak dc provides online instant discounts also so it's okay to maintain...

For axis they don't provide pre approved offers easily (some people get it). If acc is more than 1 yr and not getting pre approved means try using C2C with good limit apply via agent they can approve it....

 

[thanix]

All - Does anyone know how to avoid this Non KYC issue with SBI? The savings account is having pan card and aadhar linked. But still each year they send non kyc and stop the debits. once you give them the same documents again, they will tell everything is available. I am tired of thus drama. I can't close the account as it is my senior citizen father account. Just looking ways to avoid this branch visit for kyc.

 

[AritraSaha]

All - Does anyone know how to avoid this Non KYC issue with SBI? The savings account is having pan card and aadhar linked. But still each year they send non kyc and stop the debits. once you give them the same documents again, they will tell everything is available. I am tired of thus drama. I can't close the account as it is my senior citizen father account. Just looking ways to avoid this branch visit for kyc.

Kyc should be done every 10years..

Is it a pension account ?...