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.

 

[varun__goel_]

Can you please elaborate on your experience? It would be quite helpful in making my decision, thank you! 🙂

Idfc is also decent enough if you are not looking out for rewards/benefits. But it isn't 0 mab. If you're student, then you can get future first acc - 0 mab

 

[kaykayporty]

Idfc is also decent enough if you are not looking out for rewards/benefits. But it isn't 0 mab. If you're student, then you can get future first acc - 0 mab

Like I said, only for having one exit point for all expenses - whether it's UPI, ATM withdrawal (twice a year?) and CC bill payment with Autopay.

I'm not at all interested in rewards. I'm only interested in ease of use and reliability. It should not be going down (I've heard Kotak went down a lot a year or two ago).

For me, Zero balance is good but it shouldn't come with stupid restrictions. I'm willing to maintain 10K MAB. For example, Kotak has absurd charges for SMS and since all expenses will be outgoing - this is a problem compared to others.

 

[sm9811911]

Can you please elaborate on your experience? It would be quite helpful in making my decision, thank you! 🙂

Pretty decent online experience. Did everything online. Decent rewards on debit cards and cc are also good. Good rm. never needed to go to branch except dropping off cheques, staff was courteous.. They don't have home branch concept afaik.
Not sure on autopay but online banking works on desktop. No mab charges although if you maintain 25k (maybe depends on variant) most of the services are free.

 

[sm9811911]

Yes, I am using it.
Everyone in the community uses it for cc bill payment only. Only merchant spends count towards 25k milestone.
Go through thread for more info

I would avoid axis if you're looking for good costumer experience

 

[kaykayporty]

I would avoid axis if you're looking for good costumer experience

Exactly what I've heard. Its very rare to hear good things about Axis.
@sm9811911 Could you help with my query?

 

[sm9811911]

Exactly what I've heard. Its very rare to hear good things about Axis.
@sm9811911 Could you help with my query?

Hopefully youve read this below. Any other specific q?

Pretty decent online experience. Did everything online. Decent rewards on debit cards and cc are also good. Good rm. never needed to go to branch except dropping off cheques, staff was courteous.. They don't have home branch concept afaik.
Not sure on autopay but online banking works on desktop. No mab charges although if you maintain 25k (maybe depends on variant) most of the services are free.

 

[Sudip]

What I've understood is you want a simple account without any unnecessary charges, IMO go for IDFC 10K account they've free services in daily transactions which is required for common people like no debit card charges, 0 SMS charges, IMPS, RGTS, etc are free, I'm personally using it for the same. If interested, you can use my IDFC referral, (DM me for the same), Thanks. Good day ahead.

 

[sm9811911]

Pretty decent online experience. Did everything online. Decent rewards on debit cards and cc are also good. Good rm. never needed to go to branch except dropping off cheques, staff was courteous.. They don't have home branch concept afaik.
Not sure on autopay but online banking works on desktop. No mab charges although if you maintain 25k (maybe depends on variant) most of the services are free.

Just to add. Even though you can create account online - it's very seemless. Will strongly suggest you visit branch to do so and atleast get to know 1-2 staff, get their number. Will definitely be useful in emergency

 

[kaykayporty]

Hopefully youve read this below. Any other specific q?

Have you experienced downtime? Any issues you've heard but not encountered?
Would it be too much to ask you to check if CC Autopay is there in their netbanking for non-IDFC cards?

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How often do you get spam calls? I have a bug free experience with HDFC and SBI - I want that here as well.

 

[kaykayporty]

Just to add. Even though you can create account online - it's very seemless. Will strongly suggest you visit branch to do so and atleast get to know 1-2 staff, get their number. Will definitely be useful in emergency

Aaaah, that makes sense!

 

[sm9811911]

Have you experienced downtime? Any issues you've heard but not encountered?
Would it be too much to ask you to check if CC Autopay is there in their netbanking for non-IDFC cards?

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How often do you get spam calls? I have a bug free experience with HDFC and SBI - I want that here as well.

Downtime in middle of day : yes. For few hours. But rare.
Issues : they messed up debit card reward system initially.. But other than that, nothing comes to mind.. I will check and get back on autopay..
There is a new rm which calls once in a maybe 2 months.
I find tech to be superior than hdfc and sbi.. They were my 3 main accounts at one point of time.

 

[kaykayporty]

Downtime in middle of day : yes. For few hours. But rare.
Issues : they messed up debit card reward system initially.. But other than that, nothing comes to mind.. I will check and get back..
There is a new rm which calls once in a maybe 2 months.
I find tech to be superior than hdfc and sbi.. They were my 3 main accounts at one point of time.

They were main accounts? What are you using now if you don't mind me asking?

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That middle of the day downtime sounds like a problem. What do you mean by rare?

 

[kaykayporty]

What I've understood is you want a simple account without any unnecessary charges, IMO go for IDFC 10K account they've free services in daily transactions which is required for common people like no debit card charges, 0 SMS charges, IMPS, RGTS, etc are free, I'm personally using it for the same. If interested, you can use my IDFC referral, (DM me for the same), Thanks. Good day ahead.

Have you encountered downtime like @sm9811911 mentioned here?

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I was planning to go for the 10K account because 25K is unnecessary unless you need those features. That 0 SMS charges is a big green flag. Do they call you for cross selling products / spam?

 

[sm9811911]

They were main accounts? What are you using now if you don't mind me asking?

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That middle of the day downtime sounds like a problem. What do you mean by rare?

I now use indus as well. Rare as in that happened with me once in 4-5 yrs
To add details it was credit card issue when traveling internationally. Was not able to do tranx for 2-3 hours..

 

[kaykayporty]

I now use indus as well. Rare as in that happened with me once in 4-5 yrs
To add details it was credit card issue when traveling internationally. Was not able to do tranx for 2-3 hours..

Understood. This helps in my selection between ICICI vs Kotak 811 vs IDFC.
So far, IDFC and ICICI look much better.

 

[sm9811911]

Understood. This helps in my selection between ICICI vs Kotak 811 vs IDFC.
So far, IDFC and ICICI look much better.

Icici service and tech is also good. But bad dc and cc rewards.
Also my main reason to go with idfc 5 years ago was good interest rate but surprisingly their service, tech turned out to be great.

 

[Sudip]

Have you encountered downtime like @sm9811911 mentioned here?

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I was planning to go for the 10K account because 25K is unnecessary unless you need those features. That 0 SMS charges is a big green flag. Do they call you for cross selling products / spam?

I faced only 1-2 times downtime in a span of 4 years with IDFC, and if they downtime, usually its done at night so didn't face any trouble, also I liked their app UI (both desktop and mobile) very simple and easy to use.
I agree with your analysis of 10K, would have done the same. 25K is good only if you're looking for lounge access and better insurance cover.
Cross selling is very less, at least what I've experienced. Received call only for credit card once or twice in few months which is bearable; They don't bother to call usually unless you've shown interest in some product.
I'm attaching the free services provided by IDFC for quick reference. Happy to help!

 

[kaykayporty]

Icici service and tech is also good. But bad dc and cc rewards.
Also my main reason to go with idfc 5 years ago was good interest rate but surprisingly their service, tech turned out to be great.

Although, if you can get Sapphiro LTF - its cool 😛

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I'm shocked to hear that as well. That's just a blessing because they don't have to deal with old tech.

 

[kaykayporty]

I faced only 1-2 times downtime in a span of 4 years with IDFC, and if they downtime, usually its done at night so didn't face any trouble, also I liked their app UI (both desktop and mobile) very simple and easy to use.
I agree with your analysis of 10K, would have done the same. 25K is good only if you're looking for lounge access and better insurance cover.
Cross selling is very less, at least what I've experienced. Received call only for credit card once or twice in few months which is bearable; They don't bother to call usually unless you've shown interest in some product.
I'm attaching the free services provided by IDFC for quick reference. Happy to help! View attachment 39976View attachment 39975

This is extremely helpful! Thank you so much!

 

[kaykayporty]

Thanks @sm9811911 @Calm Radiance @varun__goel_