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INDUSIND EXCLUSIVE SAVINGS ACCOUNT + PINNACLE CARD = Zero MAB

SN.M

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since there are many threads created for this same topic , I thought of clearing all the doubts with this new post.

I can confidently say that the below information is correct.
1. you need to own a pinnacle / indulge credit card.
2. if you have legend , you can get it upgraded to pinnacle. pinnacle with 5L + limit will be eligible for indulge. but I okay with pinnacle of now.
3.open Indusind exclusive savings account by visiting branch you can not open it online. I was told by the RM (relationship manager) that grande account supports this aswell, but initial funding is 5L.
4. Once you have opened the account wait of the kit to arrive.
since we are previously using pinnacle CC in Indusind mobile app , it will not support the account linking procedure.

click on create new user id and first enrol your exclusive bank account debit card details , then after successful login , go into mobile application , left side bar , you have an option to link the existing relations , over there you select credit card and then you link it.

it usually takes 24-48 hours for linking , logout of the application and re- login after 24 hours and you will see it over there.
sometimes this doesn't work swell, then you will need to call the cc , ask them to de-register the cc from your mobile app and then map your existing account. once deregistering is done wait for 24 hours and follow the process from beginning. linking debit card , then your credit card etc etc.
since exclusive account is a premium account, drop a mail to exclusive@indusind.com,( you will usually get response in 24 hours , tops) asking them to confirm if your account is zero balance savings account. which I have done and they gave me a confirmation. mail proof for future reference.

note:
I was told by a DBM that , existing accounts can not be converted to indusexclusive, even if converted and mapped to pinnacle credit card , there is very less possibility for it to be converted to a zero mab account.
so new account is necessary , with new account you will Get a Indusind exclusive kit, which has a visa signature/ master card dc it will be sent from Mumbai. wait till you get that card.

visa signature/ MWorld C - annuall charges are 1999 + get. but with this account you get it for free(LTF). you will need to link your account to cc based on these cards not platinum card I believe.
kindly check this with the CC or drop a mail to exclusive DL.

if you already have a visa signature card , my suggestion is to go with master world card , since it gives golf privileges , unlike pinnacle master credit card , there is no minimum spend criteria for the MW dc card.

urban - initial funding 2L , Semi urban - 1L

thank you
 
since there are many threads created for this same topic , I thought of clearing all the doubts with this new post.

I can confidently say that the below information is correct.
1. you need to own a pinnacle / indulge credit card.
2. if you have legend , you can get it upgraded to pinnacle. pinnacle with 5L + limit will be eligible for indulge. but I okay with pinnacle of now.
3.open Indusind exclusive savings account by visiting branch you can not open it online. I was told by the RM (relationship manager) that grande account supports this aswell, but initial funding is 5L.
4. Once you have opened the account wait of the kit to arrive.
since we are previously using pinnacle CC in Indusind mobile app , it will not support the account linking procedure.

click on create new user id and first enrol your exclusive bank account debit card details , then after successful login , go into mobile application , left side bar , you have an option to link the existing relations , over there you select credit card and then you link it.

it usually takes 24-48 hours for linking , logout of the application and re- login after 24 hours and you will see it over there.
sometimes this doesn't work swell, then you will need to call the cc , ask them to de-register the cc from your mobile app and then map your existing account. once deregistering is done wait for 24 hours and follow the process from beginning. linking debit card , then your credit card etc etc.
since exclusive account is a premium account, drop a mail to exclusive@indusind.com,( you will usually get response in 24 hours , tops) asking them to confirm if your account is zero balance savings account. which I have done and they gave me a confirmation. mail proof for future reference.

note:
I was told by a DBM that , existing accounts can not be converted to indusexclusive, even if converted and mapped to pinnacle credit card , there is very less possibility for it to be converted to a zero mab account.
so new account is necessary , with new account you will Get a Indusind exclusive kit, which has a visa signature/ master card dc it will be sent from Mumbai. wait till you get that card.

visa signature/ MWorld C - annuall charges are 1999 + get. but with this account you get it for free(LTF). you will need to link your account to cc based on these cards not platinum card I believe.
kindly check this with the CC or drop a mail to exclusive DL.

if you already have a visa signature card , my suggestion is to go with master world card , since it gives golf privileges , unlike pinnacle master credit card , there is no minimum spend criteria for the MW dc card.

urban - initial funding 2L , Semi urban - 1L

thank you
Is the upgrade from Pinnacle to Indulge Free or paid bro?
 
for exclusive savings account linked with pinnacle the mab would come down to 0 then if i add family members will it aggain attract charges or have to keep the deposit or it would be permanently 0 for all
 
Steps
1) Get Pinnacle CC and Exclusive Account
2) Link them together .
3) get your family members onto your Exclusive account under family group with the Bank
 
The Nodal officer on mail mentioned it is only for Primary Holder so I didn't proceed with the grouping of my account.
Same happened with me. Cc mentioned 0 mab only for primary acc. But based on the info here I went ahead with 3 addon accounts.
So far no issues or mab charges.
2 year old primary acc linked with pinnacle cc, 1 year old addons.

Addons opened without any initial funding.
Directly opened as addon accounts.
Nearby branch was very Cooperative.
 
Same happened with me. Cc mentioned 0 mab only for primary acc. But based on the info here I went ahead with 3 addon accounts.
So far no issues or mab charges.
2 year old primary acc linked with pinnacle cc, 1 year old addons.

Addons opened without any initial funding.
Directly opened as addon accounts.
Nearby branch was very Cooperative.
Generally speaking, family banking means whatever th primary account holder has as features those will be shared with family members
 
Generally speaking, family banking means whatever th primary account holder has as features those will be shared with family members
True. Even the add-on account monthly statement says

Screenshot 2024-05-28 at 5.19.41 PM.png

"Balance Requirement: Group Average Quarterly Balance of Rs 2,00,000 or relationship
criteria or special privilege of Primary account to be maintained"
 
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Generally speaking, family banking means whatever th primary account holder has as features those will be shared with family members
The Nodal officer on mail mentioned it is only for Primary Holder so I didn't proceed with the grouping of my account.
Same happened with me. Cc mentioned 0 mab only for primary acc. But based on the info here I went ahead with 3 addon accounts.
So far no issues or mab charges.
2 year old primary acc linked with pinnacle cc, 1 year old addons.

Addons opened without any initial funding.
Directly opened as addon accounts.
Nearby branch was very Cooperative.

Banks encourage this family banking concept by sharing the features amongst all family members mainly because:

1) Banks hope the other family members contribute to the banks's business in the long term at some point of time
2) The competition Banks wont get this other family memebrs accounts, if they tie up with the primary holders .. so that leads to less competiton from other banks
 
Same happened with me. Cc mentioned 0 mab only for primary acc. But based on the info here I went ahead with 3 addon accounts.
So far no issues or mab charges.
2 year old primary acc linked with pinnacle cc, 1 year old addons.

Addons opened without any initial funding.
Directly opened as addon accounts.
Nearby branch was very Cooperative.
Is it possible to get the Add Ons without any IP? In general, I have seen that the same tier account has to be opened via IP and then linked to the primary
 
Banks encourage this family banking concept by sharing the features amongst all family members mainly because:

1) Banks hope the other family members contribute to the banks's business in the long term at some point of time
2) The competition Banks wont get this other family memebrs accounts, if they tie up with the primary holders .. so that leads to less competiton from other banks
So i should go ahead and get my account grouped and upgraded with my mom's account?
 
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Reactions: SSV
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