ICICI Wealth Management Account Holders please share your experience.

[TheTrickySid]

What's the MAB you guys maintaining in your Wealth management account.

And what's would be the ideal mab to prevent it from getting downgraded.
Or any tips to avoid getting the account downgraded without maintaining mab.

 

[theflash]

Directly open WM.. yes with 1L is also possible. I opened it about 2.5 years ago with 1L funding.. but time have changed , 5L is also reasonable

You maintain as per eligibility criteria?

Or without maintaining you still have the same.?

 

[dvader]

You maintain as per eligibility criteria?

Or without maintaining you still have the same.?

It's not black and white. If you just have a WM account and you keep no money in it, it's bound to get downgraded but if you have other relationships with ICICI like a CC with high limit, Insurance etc and keep some (1L+), they wouldn't touch it in a million years.

Mass downgrade happens manually. The mangement comes up with some reasonable parameter, eg. customers with just WM SA with less than INR 25000 in last 1 year. Sensible Parameters that won't piss off legitimate and potential customers.

 

[cardio_guycardio_guy is verified member.]

@dvader also what about salary accounts being converted to WM? For salary account otherwise the MAB is 0. But for wealth i think it still has to pass through the normal route. Though they upgrade, one still need to maintain some good relation to keep it from being downgraded later.
My understanding is salary wealth is not exactly the real wealth. It's there on the name but without full benefits. Correct me if I am wrong please.

 

[dvader]

@dvader also what about salary accounts being converted to WM? For salary account otherwise the MAB is 0. But for wealth i think it still has to pass through the normal route. Though they upgrade, one still need to maintain some good relation to keep it from being downgraded later.
My understanding is salary wealth is not exactly the real wealth. It's there on the name but without full benefits. Correct me if I am wrong please.

It's for this reason I didn't go with upgrading my existing account (it was privilege), the branch guys didn't confirm anything about features (I needed free cibil at any rate). I just went to another branch and opened a new WM account. i never trust upgrade process in any bank. When bank denys about multiple accounts in same cust id, I start to leave and suddenly they come up with manual approval process which was impossible just 5 min before.

 

[SSV]

You maintain as per eligibility criteria?

Or without maintaining you still have the same.?

Look at my journey here, these posts were my first posts in TF community…

Post in thread 'ICICI Wealth Management Account Holders please share your experience.'
https://www.technofino.in/community...please-share-your-experience.5052/post-222670

Post in thread 'ICICI Wealth Management Account Holders please share your experience.'
https://www.technofino.in/community...please-share-your-experience.5052/post-222745

And another post..

Post in thread 'ICICI IMobile app shows Wealth Management for 3 credit card!! Possibility for a 0 balance account?'
https://www.technofino.in/community...ity-for-a-0-balance-account.13693/post-674669

 

[sourpai]

Hi @cardio_guy - When you visit the branch, please also ask them on what it will take to upgrade account from Privilege to VM. Already have Saphhiro with CL>12L. Thank you!

 

[theflash]

It's not black and white. If you just have a WM account and you keep no money in it, it's bound to get downgraded but if you have other relationships with ICICI like a CC with high limit, Insurance etc and keep some (1L+), they wouldn't touch it in a million years.

Mass downgrade happens manually. The mangement comes up with some reasonable parameter, eg. customers with just WM SA with less than INR 25000 in last 1 year. Sensible Parameters that won't piss off legitimate and potential customers.

I have kept ₹10 but have family banking and one of the members does have an education loan so was just curious do they consider that under eligibility criteria. My account is still WM since Opening.

 

[dvader]

I have kept ₹10 but have family banking and one of the members does have an education loan so was just curious do they consider that under eligibility criteria. My account is still WM since Opening.

Again not black and white. But yes, your family member has a relationship and the manual mass downgrade will always target idle customers. There is no way in hell they will piss off a genuine customer. So you are safe.

 

[TheTrickySid]

Hello, I am looking to open a Wealth Management account with ICICI.
Went to the branch today. I am eligible for Wealth considering my TRV under MFs alone. But they are asking for 5L initial funding cheque.

Is it better to open the WM account directly, OR open a privilege account with 1L initial funding and then upgrade to WM?
Will it be difficult to upgradeto WM later after opening Privilege?

2nd question - Is there any chance for getting Wealth with less than 5L initial funding? Like will someone agree for 2L?

Also, directly opening WM = will get good welcome kit.
Upgrade = just one envelope with ATM card and cheque book, nothing in the kit.

+ @Pissant for advice/help pls.

I Smell some EPM & TB here

 

[cardio_guycardio_guy is verified member.]

Again not black and white. But yes, your family member has a relationship and the manual mass downgrade will always target idle customers. There is no way in hell they will piss off a genuine customer. So you are safe.

Exactly. They want only genuine customers and like I posted in another thread yesterday, they won't give privilege or wealth to someone just like that with a 0MAB and no other relation. So time to time they will devalue WM.

 

[dvader]

I Smell some EPM & TB here

You guys are praising EPM and TB because ICICI made them the best in market right now.

I am praising them cuz now HDFC would make DCB and Infinia more accessible cuz competition

We are not the same. 😂

 

[cardio_guycardio_guy is verified member.]

I Smell some EPM & TB here

One BM directly asked me straight - Sir what are you looking for 😀 I just told I need an account and maybe some more banking products in the future.

 

[cardio_guycardio_guy is verified member.]

This is the wealth proposition PDF that one staff sent me today. If it helps anyone. (It's old, filename is FY20-21, and contents are also only up to 2020) I will ask him for latest one next week.
@dvader @theflash @sourpai

 

[TheTrickySid]

You guys are praising EPM and TB because ICICI made them the best in market right now.

I am praising them cuz now HDFC would make DCB and Infinia more accessible cuz competition

We are not the same. 😂

I sense something different

Instead, now ICICI will make it difficult to get the top cards.

Coz killing the exclusivity won't help in the long term, axis is an example.

 

[cardio_guycardio_guy is verified member.]

I sense something different

Instead, now ICICI will make it difficult to get the top cards.

Coz killing the exclusivity won't help in the long term, axis is an example.

Either ways, I'm not looking for just EPM or TB alone. Already a huge amount is there with ICICI as TRV. (Read 50L+). Then why not get the wealth status + banking benefits + non spend based benefits + family banking etc. EPM would be a cherry on the cake definitely.

 

[_deb_]

Either ways, I'm not looking for just EPM or TB alone. Already a huge amount is there with ICICI as TRV. (Read 50L+). Then why not get the wealth status + banking benefits + non spend based benefits + family banking etc. EPM would be a cherry on the cake definitely.

I feel WM is more of gimmick than real value. My account was upgraded from Privilege for few months before getting downgraded. I didn’t find anything special except the Black UI and WM checkbook. Wealth Select is the real deal but the NRV criteria is probably lot higher.

 

[Anindya98]

Hello, I am looking to open a Wealth Management account with ICICI.
Went to the branch today. I am eligible for Wealth considering my TRV under MFs alone. But they are asking for 5L initial funding cheque.

Is it better to open the WM account directly, OR open a privilege account with 1L initial funding and then upgrade to WM?
Will it be difficult to upgradeto WM later after opening Privilege?

2nd question - Is there any chance for getting Wealth with less than 5L initial funding? Like will someone agree for 2L?

Also, directly opening WM = will get good welcome kit.
Upgrade = just one envelope with ATM card and cheque book, nothing in the kit.

+ @Pissant for advice/help pls.

Directly open WM with 1L + Cheque, try different Branch WM customers don't have a home branch concept you can visit any branch PAN India.
By default, they will send you the WM new Kit

Post in thread 'Strange ICICI Account Upgrade to Private Banking because of Times Black Credit Card??'

Jan 13, 2025

Got the Normal Wealth Management Cheque Book in New Look. I don't know why they have sent me a 25 Leaves Cheque book instant of 10*2.

I think it will be given with the Private Welcome Kit.

Yes
Over the past 2-3 months, the color has been changed from Jet Black to Orange, which is the signature color of ICICI Bank. I recently heard that ICICI Bank has started saving costs by not sending Welcome Kits to Private and Wealth Management customers upon their account upgrades. However, I received confirmation today that my Private Kit has been dispatched and is expected to arrive...

• Anindya98

• 
• 

 

[Bodhi]

I feel WM is more of gimmick than real value. My account was upgraded from Privilege for few months before getting downgraded. I didn’t find anything special except the Black UI and WM checkbook. Wealth Select is the real deal but the NRV criteria is probably lot higher.

What's special about Wealth Select?

 

[Dr.Anand456Dr.Anand456 is verified member.]

Hello, I am looking to open a Wealth Management account with ICICI.
Went to the branch today. I am eligible for Wealth considering my TRV under MFs alone. But they are asking for 5L initial funding cheque.

Is it better to open the WM account directly, OR open a privilege account with 1L initial funding and then upgrade to WM?
Will it be difficult to upgradeto WM later after opening Privilege?

2nd question - Is there any chance for getting Wealth with less than 5L initial funding? Like will someone agree for 2L?

Also, directly opening WM = will get good welcome kit.
Upgrade = just one envelope with ATM card and cheque book, nothing in the kit.

+ @Pissant for advice/help pls.

There are multiple options available, many of which others have already mentioned. I’d like to add one more.

You don’t need ₹5 lakh in initial funding or a branch visit to get an ICICI Wealth account. Even if you open a zero-balance account or a ₹10,000 minimum balance account online, it will likely get upgraded to a Wealth account over time—especially if you have a good transaction history and a high-limit ICICI credit card. In some cases, your account could be upgraded within a few months.

However, if you want a Wealth account right from the start, the best approach is to visit a smaller branch. They might open a Wealth account with a lower initial deposit—sometimes even ₹1 lakh. Larger branches, on the other hand, usually insist on ₹5 lakh in initial funding because it benefits them.


I’m sharing this from my personal experience. Around five years ago, I opened an ICICI savings account online, which I still consider one of the best accounts available at that time. It was a zero-balance account, something you won’t find today. While that specific account type is now discontinued, my own account kept getting upgraded over the years—from zero balance to a regular account, then to a Privilege account, then to Wealth, and now to Private Banking (thanks to the Times Black card).

The takeaway? Even if you start with a basic account, you can gradually work your way up to premium banking—going from zero to hero!

 

[sourpai]

There are multiple options available, many of which others have already mentioned. I’d like to add one more.

You don’t need ₹5 lakh in initial funding or a branch visit to get an ICICI Wealth account. Even if you open a zero-balance account or a ₹10,000 minimum balance account online, it will likely get upgraded to a Wealth account over time—especially if you have a good transaction history and a high-limit ICICI credit card. In some cases, your account could be upgraded within a few months.

However, if you want a Wealth account right from the start, the best approach is to visit a smaller branch. They might open a Wealth account with a lower initial deposit—sometimes even ₹1 lakh. Larger branches, on the other hand, usually insist on ₹5 lakh in initial funding because it benefits them.


I’m sharing this from my personal experience. Around five years ago, I opened an ICICI savings account online, which I still consider one of the best accounts available at that time. It was a zero-balance account, something you won’t find today. While that specific account type is now discontinued, my own account kept getting upgraded over the years—from zero balance to a regular account, then to a Privilege account, then to Wealth, and now to Private Banking (thanks to the Times Black card).

The takeaway? Even if you start with a basic account, you can gradually work your way up to premium banking—going from zero to hero!

This may or may not be true all the time.

Mine was same story, account got upgraded to Wealth without doing much overtime... However last year it got downgraded to Privilege despite two LEs received on cards of >12L. Although over time, I stopped using ICICI account much due to poor cards and shifted most of my investments from ICICI direct to Zerodha