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!

 

[hender]

HNI/Premium banking starts, from that point 👉
When we negotiate for the rate at which we want to lend to the bank.

 

[hender]

@BVC @cardio_guy @Fini7777 @Quantum
@kuchbhi @Ram1 @sjmajumder
Usecase:

PSU bank :Boring Vanilla: Month March, 2025
Source Bank PNB, A/C Variant: Saving account Bal 1,10,000.
Target :
🎯 , 3 payment need to be done on -
19 - 10k to ICICI Card,
25 - 65 k to Axis Bank.
30- 26 k to SBI Card.
All 3 set up as payee in net banking, paid on due date., got the neft msg on execution day.
Almost same month on month.
END 🔚.

Now action pack HNI banking at Pvt Bank

Approached hdfc with 1,10,000 chq to open saving account, under classic banking, got Platinum Debit Card, and chq book at home in a week.

On 19 using Plat Card on some app/portal paid Card bill.
Same way on 25 and 30 March.

After due time got cashback, in s/b account.

Here after usage on Month on month.

Now backend algorithm tracking the payment pattern /usage, and offered Pre approved Credit Card and other loan offer in sometime.

So, it's thrilling here in Rewards points, cashback, PreApproved Credit Cards, and Higher Limit and other offers.

"Anything different in your opinion?"

 

[cardio_guycardio_guy is verified member.]

@hender nice example. In my opinion both PSU and private banks are needed.

Keep PSU bank account as primary. It will never fail. Works in all circumstances and gets the work done. Nothing fancy. Like normal news reader in doordarshan.

Private banks - makes you spend more, get cards, loans, and ties you with their system. Like news channel debates in timesnow. 😄

 

[hender]

PSU -news reader in doordarshan.

PVT -news channel debates in timesnow. 😄

"Quote of the day".

 

[Fini7777]

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.

Most of these features are now just on-paper benefits rather than practical advantages. Banks emphasize them to attract new customers, but their actual usage has significantly declined.
Regarding the locker facility—though I don’t want to delve too much into this—it’s a major scam by many banks. They provide false assurances, but once their targets are met, they become unresponsive. This issue isn’t limited to lockers but extends to other negotiations as well.

When it comes to premium credit cards, in my experience, HDFC is relatively better, followed by ICICI.
As for IndusInd, "Waiting for an IndusInd credit card is like waiting for rain in the desert"—though the rain might quench our thirst, but IndusInd cards are good for nothing.

Overall, what you have highlighted is absolutely true. This is the current state of the banking industry.

 

[Fini7777]

Found one of the most underrated HNI banking programs from a PSU bank—BOB Masterstroke and BOB radiance.

On paper, it outshines most other HNI offerings, but do they truly deliver? While it’s true that BOB’s online banking facilities are not the best, I still feel they are better than IndusInd Bank 🤣 🤣 🤣 🤣 .

Is anyone using these accounts? What has your experience been like?