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.

 

[John Since]

811 cannot be converted to regular accounts, I already asked them. The only solution would be close 811 and open a regular account.

Wrong info.
I got my 811 account converted itself to Edge 811.
Back in 2017. Now it's solo savings.
Go to the branch and ask them to convert.

 

[Lobogris]

N

If you have made FD from Branch and they have provide you FD Certificate for the same then you cant close it from netbanking

Not necessarily correct. Several banks allow offline made FDs to be closed online. In fact, almost all banks allow it.

 

[Pack_of_Cards]

I passed through following -

2013 onwards
1. Union Bank of India - Opened for Online fee submission for University
Still first for Heavy TX like free IMPS & for investment withdrawal
2. State Bank of India- Open for Sholarship but always scary response from Upi outage & customer support mostly avoid but in long term no use further now.

2016-
3.Bank of Baroda - College Scholarships due to Heavy charges every where like sms, Debit cards not used more than 2 years now dormant

Yar bade heavy scholar ho tum 2-2 scholarship utha li 2 alag bank me 😉.

 

[Lobogris]

1) is this applicable for all banks ? Or atleast large banks like SBI, HDFC, BOB, ICICI etc.
2) does the FD show in net/mobile banking ?
3) what if we lost the FD receipt ? Then what's the solution?
4) And I hope bank would just not hand out cash to anybody who possesses FD receipt in someone's else. Kindly confirm this.
@hellobois

HDFC and ICICI can be closed online. Not sure about the other two.

 

[AritraSaha]

If you have made FD from Branch and they have provide you FD Certificate for the same then you cant close it from netbanking

Seems like a lunchtime bank things to do.
😁

 

[Lobogris]

I spoke to their cc again. Looks like the limit is 1-2L cumulatively for a financial year.

I already have transferred 5 lakhs in a few days and plan on sending another 30 to 50 lakhs there. Let’s see what happens. I don’t think there is any logical reason to freeze it. I have kept crores with even small finance banks and no one has ever questioned it. They are delighted.

 

[shutapdiya]

1) is this applicable for all banks ? Or atleast large banks like SBI, HDFC, BOB, ICICI etc.
2) does the FD show in net/mobile banking ?
3) what if we lost the FD receipt ? Then what's the solution?
4) And I hope bank would just not hand out cash to anybody who possesses FD receipt in someone's else. Kindly confirm this.
@hellobois

1. not pretty sure about it (was told by HDFC and Central bank of India about the same)
2. Yes its shows
3. reach out to bank, there must to some formalities to be done
4. No, bank wont do that

N

Not necessarily correct. Several banks allow offline made FDs to be closed online. In fact, almost all banks allow it.

 

[palen]

I already have transferred 5 lakhs in a few days and plan on sending another 30 to 50 lakhs there. Let’s see what happens. I don’t think there is any logical reason to freeze it. I have kept crores with even small finance banks and no one has ever questioned it. They are delighted.

If you had regularly handled Lakhs of transactions then probably they won't freeze.

 

[4uziaul]

HDFC and ICICI can be closed online. Not sure about the other two.

Let me add a few more banks to the list. RBL, Bandhan, and IndusInd allow you to close your FD through their mobile apps.

 

[AritraSaha]

Let me add a few more banks to the list. RBL, Bandhan, and IndusInd allow you to close your FD through their mobile apps.

Wait it should a basic features...🙂

 

[varun__goel_]

I already have transferred 5 lakhs in a few days and plan on sending another 30 to 50 lakhs there. Let’s see what happens. I don’t think there is any logical reason to freeze it. I have kept crores with even small finance banks and no one has ever questioned it. They are delighted.

If you are going to maintain this balance then better go for their hni accounts

 

[dvader]

If you are going to maintain this balance then better go for their hni accounts

This is spot on with that kind of money just let these Ba*&^%rds work for you. Don't deposit anything, just call them and say that you have a 40L cheque you would like to deposit. They will come to your house with all the bells and whistles

 

[AritraSaha]

If you are going to maintain this balance then better go for their hni accounts

Haa isme to icici wealth management account agayga 🙃

 

[kjs]

If you have made FD from Branch and they have provide you FD Certificate for the same then you cant close it from netbanking

In this era of digital banking there is no need to pay 1000 for maintenance charges. You need only 1 fully functional debit card and 1 UPI account.
Although I have 7 accounts but most of them are zero balance and they provide better flexibility for offers and pre approved loans/credit card.

Yeah !! true but with 1k balance I am getting full banking service of a Govt bank , also debit card annual charges will be waived of if POS transactions are more than 40(add money to paytm wallet using debit card every few days to full fill). Also in our 0 balance account we are not going to maintain 0 always it will be always 1-2k.

 

[kjs]

Salary - maybe try axis..
And don't close the HDFC account as will a big hassle to change all the investment stuff.

use cc for upi whenever possible.can definitely use icici or kotak for upi. Both are good.

maybe try to get Rupay select dc from union Bank..

Yes HDFC account for me is stable and 11 yrs old so maintaining it.
Actually don't want to open another account now , I am planning to bring it to 3 from 4 accounts..

Yes ICICI is good for UPI , Kotak Activ money is something that I am using hence my emergency fund is there but I am planning to convert that to Salary as I will have better and smooth account maintenance ie Transfer from Kotak to -> HDFC , ICICI , Union every month

 

[quino]

I already have transferred 5 lakhs in a few days and plan on sending another 30 to 50 lakhs there. Let’s see what happens. I don’t think there is any logical reason to freeze it. I have kept crores with even small finance banks and no one has ever questioned it. They are delighted.

this is in kotak 811?

 

[Lobogris]

this is in kotak 811?

Yes. 811 but with full KYC.

 

[Lobogris]

If you are going to maintain this balance then better go for their hni accounts

Could you please suggest which one? I have looked at their website and I haven’t found any good savings account. Only Private but I don’t want to maintain 7.5 crores in NRV.

 

[Lobogris]

Let me add a few more banks to the list. RBL, Bandhan, and IndusInd allow you to close your FD through their mobile apps.

Yes. Union Bank as well. Practically all banks allow it.

 

[Lobogris]

Haa isme to icici wealth management account agayga 🙃

They don’t provide good savings or FD rates. I do have some sort of account with ICICI where I have to keep 50k.