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.

 

[gurbina]

Is your money secured in it by the 5 lakh gurantee?

Not sure about this. Aren't all financial instruments covered under this "insurance" by RBI, by law?

 

[saucy]

Not sure about this. Aren't all financial instruments covered under this "insurance" by RBI, by law?

Just checked - yes, all banks including foreign bank operating in India are covered

 

[Card_Crafter]

HDFC (Primary/salary account)
ICICI (Secondary)
SBI (Oldest)
IDBI (Old salary account)
AU Small Finance
Federal (FI, Jupiter)
Paytm Payments Bank (i don't use it but somehow it is still active)

Airtel Payments Bank (Inactive)
Axis (Dormant)
ICICI salary a/c (Dormant)
Kotak salary a/c (Dormant)

 

[COSMOCRAT]

how to close SBM bank what are the steps ?

Write an account closing request to customercare@sbmbank.co.in with the account number, customer id, IFSC, your contact details, etc.

 

[avishj]

IND money tied up with Federal too?
How are you going to use these many bank accounts 😛

INDMoney partnered with them recently, process was seamless, less than 2 mins, 0 charges again for sending to US Stocks acc.

 

[avishj]

How is ur exp with Axis priority..Mine was very avg .. RM called every now and then to take some or the other thru him .. They did not even give me any discount on processing fee for personal loan .. They did not give me the desired home loan amount inspite of having sal account since 3 yrs . I closed the account..

Axis RMs are absolute garbage, even at Burgundy level. Big PITA, only thing good is the overall benefits of Acc+DC+CC, and their Premium Banking phone line.

 

[avishj]

In tab , is it required to mention the Name of College/Institution ?

College Student ?

Not that I remember, never was asked college details or ID 🙂

 

[avishj]

Not sure about this. Aren't all financial instruments covered under this "insurance" by RBI, by law?

Not all banks are, there is a distinction. SFB + Normal banks are covered. Coop banks are not.

 

[avishj]

Just checked - yes, all banks including foreign bank operating in India are covered

All coops are excluded.

 

[D7162]

BOB - 1st account for my LIC comission during college times
ICICI - Salary account
Axis - Salary account (closed once resigned - they converted to normal saving after 1 year of resignation)
HDFC - for payzapp only

Axis Current - for business transactions
Local Co Op bank current - For business mostly for cash exchanges as they dont take charges like axis

Planning to open Indusind Exclusive - just because i can get it zero balance with my Pinnacle card -OPENED

UPDATE -
Opened Indusind Exclusive
Opened Indusind Select current for business transactions

 

[BatmanDad]

In order of age (oldest to recent)

BOB - Oldest account, 500 min balance account lol.
ICICI - Zero balance account got cuz of offer in our society.
IDFC - First Wealth Banking account, cuz of higher interest rates.
HDFC - Previlege Banking account (was Savings Max initially. Got cuz of sweep-in, but they didn't enable it so useless as of now).
AXIS - Priority Banking account (was supposed to get Burgundy but the BM himself told me to go for priority lol).

Thinking of getting an AU Bank & HSBC Bank account or CC due to offers. Any insights on this would be helpful as well. Thanks.

 

[ashwinkashwink is verified member.]

ICICI - Zero balance account got cuz of offer in our society.

Can you elaborate 🤔

 

[n00b]

1. SBI - Opened in 2010 when I was a teenager so that I could have my own card to buy stuff from eBay and Flipkart. However, they refused to issue me a card unless I was 18 years old. So I had no choice but to use my parents' debit card.

2. Axis - Since 2013. I needed a card that could be used in the App Store. PS: F**k Apple for using UPI to save taxes while ruining the user experience.

3. BOB - Opened recently for Rupay Platinum. [RIP]

 

[BatmanDad]

Can you elaborate 🤔

So in our society where we used to live, there was an offer by ICICI branch (which was also located right in front of our society gate) for a zero balance account opening. The only catch was that the account should be opened with 25k. That account was later taken down to like 200 rupees for a few months at one time lol. So yea, that's mostly it. Offer run in our society.

 

[Sreerag]

So in our society where we used to live, there was an offer by ICICI branch (which was also located right in front of our society gate) for a zero balance account opening. The only catch was that the account should be opened with 25k. That account was later taken down to like 200 rupees for a few months at one time lol. So yea, that's mostly it. Offer run in our society.

Same here ! Was the society located in Mumbai? High chance of it happening in 2011-2014 period

 

[pandyag]

only 2. both were salary accounts.

 

[Auto_A]

ICICI - Salary Account
HDFC - Active
Axis Burgundy - Active until the RM decides to downgrade 😀

 

[phagocyte536]

Fi - salary account
Sbi - account opened in college times.
HDFC - recently opened. For debit card 1%

 

[BatmanDad]

Same here ! Was the society located in Mumbai? High chance of it happening in 2011-2014 period

Oh nice! Actually it's quite different. Wasn't Mumbai, and happened during 2017 - 2018 😉

But this leads me to believe that it's a regular occurrence then lol.

 

[Sreerag]

Oh nice! Actually it's quite different. Wasn't Mumbai, and happened during 2017 - 2018 😉

But this leads me to believe that it's a regular occurrence then lol.

I guess it's different in other regions.