Looking for an HNI account - Need your suggestions

[Fini7777]

Hi everyone,
I am currently looking for an HNI account, and I can maintain ₹25–30 lakhs in FDs. Here are my requirements:

1. Debit Card with Unlimited Lounge Access - Compulsory.
2. Good Internet Banking/Mobile Banking UI - I rely heavily on these services over branch visits.
3. Premium Credit Card as LTF - Preferred.
4. Family Banking Options.
5. Minimal or Zero Charges - Preferred.
6. Good Branch Service - While I don’t require an RM and don’t have high expectations from branch staff, it’s a plus if the bank provides good service.

Accounts I Currently Hold​

1. HDFC Preferred Banking - My primary SA
2. IndusInd Select Account - for FDs
3. Axis Eazy - for specific use
4. Canara SB Gen - will close it soon
5. SBI Regular SA - secondary SA
6. Kotak 811 Super SA

My Experience with These Accounts​

HDFC Bank:​

Everything is fine except for the RM. They usually act in their own interest rather than mine. I feel Imperia is not worth it.

• I am still struggling to get their core card and have dropped the plan for Infinia.
• My mom has RG and I'm using it for sale offers/instant discounts

Axis Bank:​

The branch experience is good, but I don’t know much about the Axis Burgundy account and whether I can get M4B with ₹30 lakhs in FD.

• I am hesitant to trust Axis due to their unstable policies.

IndusInd Bank:​

Let’s just say I could write a lengthy article about my experience, but I doubt anyone would read it.

• In short, I am in a dilemma: should I upgrade to Pioneer or completely break my relationship with this bank?
• They offer good returns on FDs, but their Internet Banking and Mobile Banking are not up to the mark.
• Despite a long-standing relationship, I was unable to get their Pinnacle Card with a good limit.
• I use to have multiple issues with this account but after closing my INDIE SA All my issues were resolved and everything is fine now.

Questions about IndusInd:

1. Can I expect any changes in their credit card offerings if I upgrade to Pioneer?
2. What about their debit card?

ICICI Bank:​

I currently have two credit cards with ICICI but no savings account.

• I love their user interface and am considering ICICI Wealth.

IDFC First Bank:​

I had an account but closed it due to freeze issues.

• I am open to considering IDFC Wealth if I can get their IDFC Wealth/Mayura credit card as LTF. While these cards aren’t highly useful, IDFC provides good returns on FDs.

My Credit Card Collection​

1. Axis Bank: Airtel, Ace, Neo
2. ICICI Bank: Amazon Pay, Coral
3. Federal Bank: Celesta
4. SBI: Cashback
5. HDFC: Tata Neu Infinity
6. Kotak Bank: Myntra
7. Yes Bank: Rupay
8. RBL Bank: World Safari, Shoprite Rupay
9. IndusInd Bank: Legend - "very low limit"
10. IDFC First Bank: Select

Final Note​

I don’t travel much currently but may in the future. For travel-related spends, I plan to apply for AMEX Plat Travel or Atlas. Hence, HDFC Infinia is no longer my target.
HSBC and SC - Not serviceable
You can also suggest public sector banks like BOB or SBI if they satisfy my requirements.
Thanks for reading through and providing your valuable input!

 

[nixflix]

you can get the IDFC Wealth account with initial deposit of 5 lac

And then that can be withdrawn? Sorry didn't get this part. I thought the TRV is 10L i.e. average M/Q balance has to be 10L, right?

 

[nixflix]

Check AXIS Burgundy: https://www.axisbank.com/burgundy-personal-banking

Feedback based on personal experience. Do not get this a/c unless you get it through a branch and your RM is local. Make sure you have a good rapport otherwise it is a useless a/c. They tried to make me come to the branch for anything and everything so not only downgrade I closed the a/c.

A comparison - in case of HDFC I get Imperia for even 3-5L balance (savings/FD for months) and a dedicated RM from the branch. Whenever some paperwork is needed, I don't even have to ask for a home visit. RM readily offers to send runner or sometimes she herself comes. Yes, she was not able to upgrade my DCB LTF to paid Infinia but everything else is decent.

 

[nixflix]

Try Kotak HNI accounts

Privy League?

It has no feature at all - cards are useless. But I like their branch help. They won't make you visit the branch and easily send runner or RM to your address. Also, I don't know how much is TRV requirement anymore but it has been same for me even if I keep 2-3L.

 

[Credit_Cards]

Feedback based on personal experience. Do not get this a/c unless you get it through a branch and your RM is local. Make sure you have a good rapport otherwise it is a useless a/c. They tried to make me come to the branch for anything and everything so not only downgrade I closed the a/c.

A comparison - in case of HDFC I get Imperia for even 3-5L balance (savings/FD for months) and a dedicated RM from the branch. Whenever some paperwork is needed, I don't even have to ask for a home visit. RM readily offers to send runner or sometimes she herself comes. Yes, she was not able to upgrade my DCB LTF to paid Infinia but everything else is decent.

what wrong with burgundy ? I am thinking to upgrade it this as I am holding a Magnus CC and Burgundy Makes sense only for CC

 

[Fini7777]

what wrong with burgundy ? I am thinking to upgrade it this as I am holding a Magnus CC and Burgundy Makes sense only for CC

The main problem with Axis Bank is their instability—they frequently change their terms without notice and often ask for invoices, even for genuine spends.
Additionally, their Burgundy account is not as competitive as other options in the market.
If you get a significant benefit, such as an LTF Magnus, Atlas, or a paid M4B, it might be worth considering; otherwise, it is not recommended.

-This is not my personal experience, but there are several threads regarding this.-

 

[nixflix]

The main problem with Axis Bank is their instability—they frequently change their terms without notice and often ask for invoices, even for genuine spends.
Additionally, their Burgundy account is not as competitive as other options in the market.
If you get a significant benefit, such as an LTF Magnus, Atlas, or a paid M4B, it might be worth considering; otherwise, it is not recommended.

-This is not my personal experience, but there are several threads regarding this.-

This! ^

and

what wrong with burgundy ? I am thinking to upgrade it this as I am holding a Magnus CC and Burgundy Makes sense only for CC

And their RM being completely clueless, uncouth, irresponsible, and sometimes downright obstinate and un-cooperating. Surprising thing is - even the Citi RMs who migrated to Axis have become like that. No one gives a hoot about anything anymore. No accountability! No fear of blow back on consumer complaint.

Bhasad bank, bhasad culture!

In a nutshell: It is better to not open an "HNI" a/c there because there will be not a single thing HNI worthy and worthy of your TRV or monthly salary credit there. Nothing!

 

[Credit_Cards]

This! ^

and


And their RM being completely clueless, uncouth, irresponsible, and sometimes downright obstinate and un-cooperating. Surprising thing is - even the Citi RMs who migrated to Axis have become like that. No one gives a hoot about anything anymore. No accountability! No fear of blow back on consumer complaint.

Bhasad bank, bhasad culture!

In a nutshell: It is better to not open an "HNI" a/c there because there will be not a single thing HNI worthy and worthy of your TRV or monthly salary credit there. Nothing!

You scared me I am trying to open a burgundy with Axis as I got new Magnus

 

[Abhigyan kumar]

Canara crest plus 50 lakh mab 😜

 

[SpaceBar]

Hi everyone,
I am currently looking for an HNI account, and I can maintain ₹25–30 lakhs in FDs. Here are my requirements:

1. Debit Card with Unlimited Lounge Access - Compulsory.
2. Good Internet Banking/Mobile Banking UI - I rely heavily on these services over branch visits.
3. Premium Credit Card as LTF - Preferred.
4. Family Banking Options.
5. Minimal or Zero Charges - Preferred.
6. Good Branch Service - While I don’t require an RM and don’t have high expectations from branch staff, it’s a plus if the bank provides good service.

Accounts I Currently Hold​

1. HDFC Preferred Banking - My primary SA
2. IndusInd Select Account - for FDs
3. Axis Eazy - for specific use
4. Canara SB Gen - will close it soon
5. SBI Regular SA - secondary SA
6. Kotak 811 Super SA

My Experience with These Accounts​

HDFC Bank:​

Everything is fine except for the RM. They usually act in their own interest rather than mine. I feel Imperia is not worth it.

• I am still struggling to get their core card and have dropped the plan for Infinia.
• My mom has RG and I'm using it for sale offers/instant discounts

Axis Bank:​

The branch experience is good, but I don’t know much about the Axis Burgundy account and whether I can get M4B with ₹30 lakhs in FD.

• I am hesitant to trust Axis due to their unstable policies.

IndusInd Bank:​

Let’s just say I could write a lengthy article about my experience, but I doubt anyone would read it.

• In short, I am in a dilemma: should I upgrade to Pioneer or completely break my relationship with this bank?
• They offer good returns on FDs, but their Internet Banking and Mobile Banking are not up to the mark.
• Despite a long-standing relationship, I was unable to get their Pinnacle Card with a good limit.
• I use to have multiple issues with this account but after closing my INDIE SA All my issues were resolved and everything is fine now.

Questions about IndusInd:

1. Can I expect any changes in their credit card offerings if I upgrade to Pioneer?
2. What about their debit card?

ICICI Bank:​

I currently have two credit cards with ICICI but no savings account.

• I love their user interface and am considering ICICI Wealth.

IDFC First Bank:​

I had an account but closed it due to freeze issues.

• I am open to considering IDFC Wealth if I can get their IDFC Wealth/Mayura credit card as LTF. While these cards aren’t highly useful, IDFC provides good returns on FDs.

My Credit Card Collection​

1. Axis Bank: Airtel, Ace, Neo
2. ICICI Bank: Amazon Pay, Coral
3. Federal Bank: Celesta
4. SBI: Cashback
5. HDFC: Tata Neu Infinity
6. Kotak Bank: Myntra
7. Yes Bank: Rupay
8. RBL Bank: World Safari, Shoprite Rupay
9. IndusInd Bank: Legend - "very low limit"
10. IDFC First Bank: Select

Final Note​

I don’t travel much currently but may in the future. For travel-related spends, I plan to apply for AMEX Plat Travel or Atlas. Hence, HDFC Infinia is no longer my target.
HSBC and SC - Not serviceable
You can also suggest public sector banks like BOB or SBI if they satisfy my requirements.
Thanks for reading through and providing your valuable input!

Go for BoB opulence.

 

[cardio_guycardio_guy is verified member.]

My 2 cents.

1. If you are salaried, working in a company which has tie up with some banks, it's good to open a salary account. Salary account comes with most of the premium benefits at zero cost.
Bigger banks like ICICI, HDFC and Axis offers their higher segments to salary account holders without having to meet TRV or initial funding etc.
For more than 2 LPM, ICICI - Wealth Management, HDFC - Preferred, Axis - Burgundy.
There are smaller banks with better benefits, but comes at the risk of changing policies, plans and offers etc.

2. Without salary account, just to get HNI banking, it's not wise to keep 5-10L in savings or FD (due to taxation etc).
Most of my money is in investments such as PPF, mutual funds, etc, and so bank balance is always less than 20-30k.
So when they see from a relationship value basis, I may be having nothing with the bank. The crores in personal investments do not count for banks.
They just want us to invest through them so that they get the distributor commissions. (It's always aimed at what benefit they can get from us).
We really don't have to block our bulk amount for them, just to get a premium banking in return.

3. There are some banks which allow opening an HNI account with initial funding and then withdraw it soon after account opening, but there are chances of downgrades after a few quarters if balances and relationship values are not met. In such cases, we are forced to keep something like 10L+ in their FDs to maintain the status tier.

There are some premium banking enthusiasts here. They can help to add more. This could also help - Premium and HNI banking compilation
Ultimately, HNI banking is a myth. Banks don't offer anything apart from their normal day-to-day services. Just a polished approach is what we pay for.

Coming to suggestions or banking programs:

Very large banks, stable products, lot of branches and ATMs, overall good:

• HDFC Imperia
• ICICI Wealth Management
• Axis Burgundy

Mid-sized banks, products prone to changes, lesser branches and ATMs:

• Indusind Pioneer
• IDFC First Wealth
• Yes Grandeur
• Kotak Privy

International banks, less branches and ATMs, less number of products and market share:

• DBS Treasures
• Duetsche Private
• HSBC Premier
• SCB Priority

 

[Fini7777]

My 2 cents.

1. If you are salaried, working in a company which has tie up with some banks, it's good to open a salary account. Salary account comes with most of the premium benefits at zero cost.
Bigger banks like ICICI, HDFC and Axis offers their higher segments to salary account holders without having to meet TRV or initial funding etc.
For more than 2 LPM, ICICI - Wealth Management, HDFC - Preferred, Axis - Burgundy.
There are smaller banks with better benefits, but comes at the risk of changing policies, plans and offers etc.

I don't fall under the salaried category.

2. Without salary account, just to get HNI banking, it's not wise to keep 5-10L in savings or FD (due to taxation etc).
Most of my money is in investments such as PPF, mutual funds, etc, and so bank balance is always less than 20-30k.
So when they see from a relationship value basis, I may be having nothing with the bank. The crores in personal investments do not count for banks.
They just want us to invest through them so that they get the distributor commissions. (It's always aimed at what benefit they can get from us).
We really don't have to block our bulk amount for them, just to get a premium banking in return.

You're absolutely right keeping a large sum in a savings account isn’t ideal due to the low returns. However, I also don’t want to invest this lump sum in market-linked instruments right now. Given the current volatility, investing a significant amount all at once is risky. A sudden downturn could lock in losses, and timing the market is always uncertain. While I do invest a portion of my regular income in mutual funds via SIPs, I prefer capital preservation for this particular sum, which is why I’m considering FDs for now.

That’s also why I’m looking into HNI banking—not because I’m desperate for it (as you rightly pointed out, it’s largely a myth) but because I want to leverage the family banking feature to efficiently distribute FDs across family members.

Another key reason for considering HNI banking is access to Super-premium credit card based on TRV. Currently, I’m satisfied with the credit cards I have, but being a premium customer and giving business to a bank, I do expect some level of card privileges in return. Unfortunately, as you mentioned, most banks today don’t offer meaningful advantages even to their premium customers. Still, I hope that being in a premium banking segment could improve the chances of getting a worthwhile card.

3. There are some banks which allow opening an HNI account with initial funding and then withdraw it soon after account opening, but there are chances of downgrades after a few quarters if balances and relationship values are not met. In such cases, we are forced to keep something like 10L+ in their FDs to maintain the status tier.

I’m not interested in playing the "fund, withdraw, and risk downgrade" game with banks. Stability matters more than just a premium tag.

There are some premium banking enthusiasts here. They can help to add more. This could also help - Premium and HNI banking compilation
Ultimately, HNI banking is a myth. Banks don't offer anything apart from their normal day-to-day services. Just a polished approach is what we pay for.

Coming to suggestions or banking programs:

Very large banks, stable products, lot of branches and ATMs, overall good:

• HDFC Imperia
• ICICI Wealth Management
• Axis Burgundy

Mid-sized banks, products prone to changes, lesser branches and ATMs:

• Indusind Pioneer
• IDFC First Wealth
• Yes Grandeur
• Kotak Privy

ICICI seems like a reasonable option, and I’m also planning to open an IDFC account soon.

International banks, less branches and ATMs, less number of products and market share:

• DBS Treasures
• Duetsche Private
• HSBC Premier
• SCB Priority

Unfortunately, these options aren’t serviceable in my location.

 

[cardio_guycardio_guy is verified member.]

I will add some more points.

If you are investing in FDs, then it is worth asking for the higher variant bank account based on the relationship value.
ICICI is the only bank that considers our personal investments in their TRV calculations. If you have personal direct MFs in ICICI Pru AMC, you can show them while opening their wealth or private banking.
For Axis and HDFC, they don't include our personal investments. So, it's better to go with their FD route for easy access to premium or HNI banking.

Like many have pointed out, Axis changes their offers and policies often. So we cannot depend on them completely. Still I think, Burgundy is relatively stable. (Axis cards are the best on reward rate - Atlas or M4B. Also their Burgundy bank account benefits are not bad). Axis mobile and internet banking are also good.

Coming to ICICI, it is a very normal people's bank. Aam Janta ke bank. It's like SBI's sibiling. 90% of their processes looks very sarkari. But again their app and internet banking is good. They have good tech stack. Cards - Amazon Pay, Emeralde PVC, EPM and TB can be considered worth taking. Other gemstone and co-branded cards are not very worth paying the fees.

Then comes HDFC. almost no nonsense if you get a good RM. Preferred banking is good enough. Imperia is almost equal to preferred. Inifity is invite-only private banking. Not sure if it stands out much. The thing I have noticed is that we need to build a relation with them and they progress gradually from RG > DCB > Infinia. You can also get a lateral entry to some of the higher variant cards, but it is difficult to get confirmation beforehand.

You may not get a VIP treatment in these 3 biggies, because they have a lot of such HNIs in queue. Apart from these 3, if you are going to the smaller banks, you may feel better valued with their premium and HNI bank accounts because their customer base is smaller. Benefits wise also, smaller banks may give more benefits than the elephants.

 

[hender]

My 2 cents.

1. If you are salaried, working in a company which has tie up with some banks, it's good to open a salary account. Salary account comes with most of the premium benefits at zero cost.
Bigger banks like ICICI, HDFC and Axis offers their higher segments to salary account holders without having to meet TRV or initial funding etc.
For more than 2 LPM, ICICI - Wealth Management, HDFC - Preferred, Axis - Burgundy.
There are smaller banks with better benefits, but comes at the risk of changing policies, plans and offers etc.

2. Without salary account, just to get HNI banking, it's not wise to keep 5-10L in savings or FD (due to taxation etc).
Most of my money is in investments such as PPF, mutual funds, etc, and so bank balance is always less than 20-30k.
So when they see from a relationship value basis, I may be having nothing with the bank. The crores in personal investments do not count for banks.
They just want us to invest through them so that they get the distributor commissions. (It's always aimed at what benefit they can get from us).
We really don't have to block our bulk amount for them, just to get a premium banking in return.

3. There are some banks which allow opening an HNI account with initial funding and then withdraw it soon after account opening, but there are chances of downgrades after a few quarters if balances and relationship values are not met. In such cases, we are forced to keep something like 10L+ in their FDs to maintain the status tier.

There are some premium banking enthusiasts here. They can help to add more. This could also help - Premium and HNI banking compilation
Ultimately, HNI banking is a myth. Banks don't offer anything apart from their normal day-to-day services. Just a polished approach is what we pay for.

Coming to suggestions or banking programs:

Very large banks, stable products, lot of branches and ATMs, overall good:

• HDFC Imperia
• ICICI Wealth Management
• Axis Burgundy

Mid-sized banks, products prone to changes, lesser branches and ATMs:

• Indusind Pioneer
• IDFC First Wealth
• Yes Grandeur
• Kotak Privy

International banks, less branches and ATMs, less number of products and market share:

• DBS Treasures
• Duetsche Private
• HSBC Premier
• SCB Priority

Nice 👍 write up

 

[hender]

I don't fall under the salaried category.

You're absolutely right keeping a large sum in a savings account isn’t ideal due to the low returns. However, I also don’t want to invest this lump sum in market-linked instruments right now. Given the current volatility, investing a significant amount all at once is risky. A sudden downturn could lock in losses, and timing the market is always uncertain. While I do invest a portion of my regular income in mutual funds via SIPs, I prefer capital preservation for this particular sum, which is why I’m considering FDs for now.

That’s also why I’m looking into HNI banking—not because I’m desperate for it (as you rightly pointed out, it’s largely a myth) but because I want to leverage the family banking feature to efficiently distribute FDs across family members.

Another key reason for considering HNI banking is access to Super-premium credit card based on TRV. Currently, I’m satisfied with the credit cards I have, but being a premium customer and giving business to a bank, I do expect some level of card privileges in return. Unfortunately, as you mentioned, most banks today don’t offer meaningful advantages even to their premium customers. Still, I hope that being in a premium banking segment could improve the chances of getting a worthwhile card.

I’m not interested in playing the "fund, withdraw, and risk downgrade" game with banks. Stability matters more than just a premium tag.


ICICI seems like a reasonable option, and I’m also planning to open an IDFC account soon.

Unfortunately, these options aren’t serviceable in my location.

Appreciate your point ☝️

 

[hender]

I will add some more points.

If you are investing in FDs, then it is worth asking for the higher variant bank account based on the relationship value.
ICICI is the only bank that considers our personal investments in their TRV calculations. If you have personal direct MFs in ICICI Pru AMC, you can show them while opening their wealth or private banking.
For Axis and HDFC, they don't include our personal investments. So, it's better to go with their FD route for easy access to premium or HNI banking.

Like many have pointed out, Axis changes their offers and policies often. So we cannot depend on them completely. Still I think, Burgundy is relatively stable. (Axis cards are the best on reward rate - Atlas or M4B. Also their Burgundy bank account benefits are not bad). Axis mobile and internet banking are also good.

Coming to ICICI, it is a very normal people's bank. Aam Janta ke bank. It's like SBI's sibiling. 90% of their processes looks very sarkari. But again their app and internet banking is good. They have good tech stack. Cards - Amazon Pay, Emeralde PVC, EPM and TB can be considered worth taking. Other gemstone and co-branded cards are not very worth paying the fees.

Then comes HDFC. almost no nonsense if you get a good RM. Preferred banking is good enough. Imperia is almost equal to preferred. Inifity is invite-only private banking. Not sure if it stands out much. The thing I have noticed is that we need to build a relation with them and they progress gradually from RG > DCB > Infinia. You can also get a lateral entry to some of the higher variant cards, but it is difficult to get confirmation beforehand.

You may not get a VIP treatment in these 3 biggies, because they have a lot of such HNIs in queue. Apart from these 3, if you are going to the smaller banks, you may feel better valued with their premium and HNI bank accounts because their customer base is smaller. Benefits wise also, smaller banks may give more benefits than the elephants.

Thanks for sharing 🙏

 

[cardio_guycardio_guy is verified member.]

Lastly, I will tell my story so far.
I had an ICICI salary account, and I got Sapphiro LTF with that. But then after 1 year I closed the account (because they upgraded it to WM and then downgraded to Privilege without any reason). But that was a mistake of me closing it. ICICI has been so far most convenient and easiest to deal with. Processes are very simple and straightforward. Only negative is don't talk to their customer care and branch staff. Reduce human interaction as much as possible. Everything is available online on their app - adding nominee, changing home branch, and even closing account). It was a small mistake from my side to have closed it. But I will be opening another savings account soon with ICICI. My next step is to open an ICICI account, get family banking and link my spouse account in it and aim for Emeralde PVC LTF. Without bank account and transactions, it is showing Emeralde PVC paid (12000 + 12000) now.

After closing ICICI, I opened an HSBC salary account. I didn't like their overal process, very difficult to deal with (especially after experiencing ICICI). I am in the process of closing it soon.

Now I have HDFC Preferred. One reason why I took it is - I need a core CC. I don't have HDFC core CC. I am waiting to get an auto generated CC offer in HDFC. It will take some months, but still worth waiting. Also, overall it has been good to me. I would say HDFC is all the positives of ICICI + lesser headaches from customer care and staff. Luckily the RM assigned to me is also good. Very much satisfied with HDFC so far.

 

[NABNAB is verified member.]

Lastly, I will tell my story so far.
I had an ICICI salary account, and I got Sapphiro LTF with that. But then after 1 year I closed the account (because they upgraded it to WM and then downgraded to Privilege without any reason). But that was a mistake of me closing it. ICICI has been so far most convenient and easiest to deal with. Processes are very simple and straightforward. Only negative is don't talk to their customer care and branch staff. Reduce human interaction as much as possible. Everything is available online on their app - adding nominee, changing home branch, and even closing account). It was a small mistake from my side to have closed it. But I will be opening another savings account soon with ICICI. My next step is to open an ICICI account, get family banking and link my spouse account in it and aim for Emeralde PVC LTF. Without bank account and transactions, it is showing Emeralde PVC paid (12000 + 12000) now.

After closing ICICI, I opened an HSBC salary account. I didn't like their overal process, very difficult to deal with (especially after experiencing ICICI). I am in the process of closing it soon.

Now I have HDFC Preferred. One reason why I took it is - I need a core CC. I don't have HDFC core CC. I am waiting to get an auto generated CC offer in HDFC. It will take some months, but still worth waiting. Also, overall it has been good to me. I would say HDFC is all the positives of ICICI + lesser headaches from customer care and staff. Luckily the RM assigned to me is also good. Very much satisfied with HDFC so far.

+1
ICICI is the best and no-brainer bank. Only those who have experienced it can know it.

 

[hender]

@Fini7777 @cardio_guy

You both are sharing the same coin , BUT on a different side, as per use case.

My observation are-
1- HNI banking
2- Salary based banking
It's all about investment power, spending/purchase power, everything rotating around this , in private banking.

Whereas PSU banks are popular for safety and security of money. Max the Govt Employees(1970-2000), having FDs in PSU bank, whereas PVT Sector People(2000-onwards) in Pvt bank.

In last 10 years landscape changed completely in Financial World, on every front, related to banking and fund transfer process. investment, Awareness, Digital Adoption, moreover Too much options available for everyone - hence more choices.

Ex. I closed my HDFC Bank Salary account few years back, and having only 1 Credit Card MoneyBack.
My friend continuing HDFC A/C having HDFC card as well...
Now what's the difference --

Few days back I asked him(After reading here) तेरे HDFC कार्ड का क्या नाम है
LTF Infinia, since last 4-5 years.

Disc: I shared the experience got to know, while interacting my generation and one or two generations above.
Every one having different needs/beliefs, so are the choices.

 

[cardio_guycardio_guy is verified member.]

Very true. Especially about premium banking facilities. For example, they say they give free demand draft for premium accounts, but who uses demand draft these days? Also they say higher ATM withdrawal limits, but who withdraws 6 lakh from ATM in one day? These are some of the unwanted benefits, but banks till show them as something big.
Due to online banking and UPI, many day to day Bank activities are reduced, people don't go to bank for most of the requirements, everything is available online.
Another thing is locker. I don't know why people are so much behind free bank lockers.

Next big thing is loan. If we get a lower interest rate for a loan because we have premium banking account relation with them that would be good. But this never happens. Loan interest rate depends on our CIBIL score. So even if I have private banking and one crore TRV, still if my CIBIL is 652, I will not get a loan with lower interest rate, so that is also ruled out.

Apart from all this, only good thing that we can look in to is - premium credit card. Other than that, getting a VIP treatment while visiting a bank or a cup of coffee is not what I want.

 

[hender]

Very true. Especially about premium banking facilities. For example, they say they give free demand draft for premium accounts, but who uses demand draft these days? Also they say higher ATM withdrawal limits, but who withdraw 6 lakh from ATM one day? These are some of the unwanted benefits, but banks till show them as something big.
Due to online banking and UPI, many day to day Bank activities are reduced, people don't go to bank for most of the requirements, everything is available online.
Another thing is locker. I don't know why people are so much behind free bank lockers.

Next big thing is loan. If we get a lower interest rate for a loan because we have premium banking account relation with them that would be good. But this never happens. Loan interest rate depends on our CIBIL score. So even if I have private banking and one crore TRV, still if my CIBIL is 652, I will not get a loan with lower interest rate, so that is also ruled out.

Apart from all this, only good thing that we can look in to is - premium credit card. Other than that, getting a VIP treatment while visiting a bank or a cup of coffee is not what I want.

That's correct 💯.