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

raghavx

TF Select
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.
 
I only have 3 accounts currently in operation :
1. HDFC - Salary Account : Chose HDFC because of their CCs
2. SBI - 0 Balance - Excellent network of branches and ATMs, for backup
3. Airtel Payments Bank - For in person UPI payments when Rupay CC are not accepted by some merchants
 
PNB 2016-2020 - Earlier it was Oriental Bank of commerce and was opposite to my school. So the branch people came to open minor accounts in my school. Now dormant.

Another PNB - Before OBC merger. Active account. For household expenses.

SBI - Opened as my own first account digitally. Now use it for SIP & Stock market txns.

Paytm Payments Bank 2018-2024 - officially first account opened during KYC of wallet. Closed by RBI.

AU SFB - Opened bcz of high interest rate. Now using for daily UPI txns.

Jio payments Bank - in replacement of paytm. Mostly for CC bill payment. To organise what I spend and save in form of cashback.

Unity Small Finance Bank - Again laalach of high interest rate. Will park my emergency and opportunities fund in this account.

Bank of Baroda - for RuPay Platinum DC and Amazon pay offer. Also almost a zero charges account.

Axis Liberty - For 750 GV
 
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My accounts-
1) SBI- savings account, my main account- I have 5 lakh fd in it and rd in it too plus sip. Linked to my sbi securities too. I use sbi securities for my other mutual funds and long term holding stocks. Also I have a sbi prime card against fd of additional 1.5 lakhs.
2) HDFC(preffered) - savings account. Salary gets credited in this account... I keep mab of 10k now, last 4 months was 2 lakhs just so I could get card offer but got no offer so yh Now I keep 10k mab plus 10 k for other expenses.
 
I use sbi securities for long term holding and mutual funds because its the safest and UI aint that bad. I use hdfc sky for intraday, But most risky stocks arent available for intraday on hdfcsky so I use zerodha for that.
 
I use sbi securities for long term holding and mutual funds because its the safest and UI aint that bad. I use hdfc sky for intraday, But most risky stocks arent available for intraday on hdfcsky so I use zerodha for that.
What do you mean by SBI being safest for equity and mutual fund??

Equity is anyways stored under your demat account and mf are held with AMC.
Don't think bank plays any role in this!!
 
1. SBI Regular Savings Account (2005):
- Opened for scholarship as a joint account with my father, later converted to a single user account.
- Was using it as my primary account till the end of last year.
- Don't want to close it because of following reasons: safest bank; no minimum balance conditions; while everyone gives gaalis to the bank, I haven't faced much issues...mostly everything gets done online, also young employees in SBI branches are much better than old ones; possibility of unconditional upgrade to wealth variant; don't want to close my first bank account.
- Still my monthly stipend is deposited in this account but I transfer to the other account on the same day.
- Recent MAB: ~₹300

2. ICICI Mine Savings Account (2018):
- Zero balance account
- Opened because I thought having a savings account in ICICI will make it easy to get a credit card. (I did get the APay card but I can't really say it is because of the savings account)
- Have kept it just because it is a zero balance account and the ICICI Mine debit card looks cool 😛
- Had booked some FDs which matured last year.
- Recent MAB: ~₹500

3. Indian Bank Savings Account (2018):
- Institute made us open it for stipends.
- Zero MAB requirement
- Was using it when I was in that insti, now it is dormant.
- Have closed the debit card to avoid charges.
- Too lazy to go to the branch and do the account closure formalities.
- MAB: ~₹100

4. IDFC First Future First Savings Account (2023):
- Zero balance account
- All banking services are free
- Higher Interest rate
- Higher FD rates: have a good amount of FDs
- ₹62.5 worth rewards on bill payment each month
-Free Visa Signature Debit Card (gives lounge access)
-Free Rupay Platinum Debit Card (for 20% off on APay offer)
- Recent MAB: >₹1L

5. HDFC Savings Max Account (2024):
- Primary account
- Opened because I thought HDFC provides good credit card offers, spend based offers on debit/credit cards
- 1% cashback on CC bill payments
- Recent MAB: ~₹70K

6, 7. NSDL Jiffy (2024), BoB Advantage Savings Account (2024):
- Using only once a month for 20% APay offer through RupayPlat DC

8. Jio Payments Bank Account (2024):
- Opened as it is a zero balance acc and gives free RupayPlat DC, but haven't received the DC yet.
 
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Axis Prestige (Since 2013, Holding this account since 2013 when I was in high school before going to college)
SBI Basic Account (Since 2014, Created this account in College)
Axis Burgundy (Since Oct 2023, Created a new AXIS account as the upgrade was not possible on Prestige due to some technical error.)
HDFC Preferred (Since Oct 2023, Infinia ke chakkar babu bhaiya)
DBS Digital Bank (Since Oct 2023, for remittance i.e international ETFs/stock investment via Interactive Broker)
Had Kotak salary account (don't remember the account type) but never activated for various reasons.
 
DBS Digital Bank (Since Oct 2023, for remittance i.e international ETFs/stock investment via Interactive Broker)
Does DBS allow outward LRS transactions for stock investment purpose to IBKR?

I've tried with other banks, they call & ask for purpose of transaction, as soon as I say stock investment, they say that's not allowed & reject the txn.
 
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Does DBS allow outward LRS transactions for stock investment purpose to IBKR?

I've tried with other banks, they call & ask for purpose of transaction, as soon as I say stock investment, they say that's not allowed & reject the txn.
I wouldn't know, before opening an account they did not mention that remittance is not allowed for NTB customers for up to 1 year. I have to keep my account active for at least 1 year to avail this service 🤦‍♂️
After some hartal with the DBS customer care I lost my motivation to invest and too much workload led me to stay away from investing in international ETFs/stock.
I had sweet 3-4 months last year to invest my time in this man and DBS took it all ffs! 😕
Will start again in some months, this time I will go with Indusind maybe.
 
I wouldn't know, before opening an account they did not mention that remittance is not allowed for NTB customers for up to 1 year. I have to keep my account active for at least 1 year to avail this service 🤦‍♂️
After some hartal with the DBS customer care I lost my motivation to invest and too much workload led me to stay away from investing in international ETFs/stock.
I had sweet 3-4 months last year to invest my time in this man and DBS took it all ffs! 😕
Will start again in some months, this time I will go with Indusind maybe.
For this reason, my IBKR account is still pending.
 
wanted to keep it simple
HDFC - Salary (debit)
ICICI - Spendings (credit)

after reading above thread, Standard Chartered aXcessPlus seems to be good but i don't have a branch nearby.
DBS Treasures eligibility is way above my league.
 
1. SBI - my first ever bank account
( Now Salary Account ) Almost 14 Year Relation

2. Airtel Payment Bank - closed 6 year old
3. Kotak - reactivated Recently - 7 Year old
4. BOB - Jan Dhan Account - 5 Year old
4. Jupiter - closed - 1 year old
5. Fi money - closed - 1 year old

6. HDFC (bsbda) - ( opened for CC, luckily got one using this account.) 2 months

7. Jio Payment Bank - For Rupay Platinum / 1 months old
8. ICICI - (Privilege) - ( In hope to get Amazon ICICI) / 5 days old
 
Axis Prestige (Since 2013, Holding this account since 2013 when I was in high school before going to college)
SBI Basic Account (Since 2014, Created this account in College)
Axis Burgundy (Since Oct 2023, Created a new AXIS account as the upgrade was not possible on Prestige due to some technical error.)

I was told one can't open more than one single-owner accounts in Axis! Is it not really so?
.
 
  1. HDFC Account (Imperia): Used for salary and linked with investment instruments (securities account, mutual funds)
  2. ICICI Account (Privilege Banking): Joint account held with my wife that I opened after marriage. Use it for ATM withdrawals, UPI and IMPS transfers for things like society maintenance payments
So far all my use cases are covered by these two accounts, haven't felt the need to open a third
 
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