Most trusted bank for a savings account?

[yusuf646]

Which bank do you trust the most for all of your transactions, with good servers, good customer support, and where you can park all your savings without worrying?

My primary account is with Fi Infinite. This account has been very beneficial for me, as I am earning 1K every month from it. However, I am a little resistant to having all my transactions and money there.

Due to many recent cases of Fi accounts being frozen and the recent charges announcement from Federal Bank, I am planning to try another bank. Up to a 50K average monthly balance is okay for me.

Share your best & worst experiences.

 

[iamabhisekagar]

What About RBL anyone have experience regarding RBL Savings Account?

 

[yusuf646]

If you are already has a 4yr old K811, you should guide others. Why are you asking others ?

Kotak 811 was my first bank account. I never used that account for large transactions because it's a zero balance account.

 

[RAMESH BABU N]

Good for doing small to medium transactions...for larger amounts they freeze the account. SBI account is a must for every Indian

I am having a K811. Never had any problem - even with some of my trxns even running into lakhs, besides almost all my UPI trxns thru it.

 

[yusuf646]

I am having a K811. Never had any problem - even with some of my trxns even running into lakhs, besides almost all my UPI trxns thru it.

Thanks for the information.

 

[yusuf646]

After a deep discussion my final conclusion

 

[diptarkaroy]

All I can say, BEST OF LUCK
In my view, you have chosen the worst of the pack ..
Again everyone is different...

I think we all can agree that Axis is the worst 😂😂😂

 

[diptarkaroy]

If you're planning to use UPI heavily and want to keep your Passbook clean, you have 2 options for Merchant Payees:
1. Rupay CC on UPI
2. Wallet UPI

For P2P, I would recommend using IMPS. So opt for an account variant in the bank of your choice where IMPS attracts 0 Charges. Moreover, if your Payees are fixed, it would require to enter the details on the 1st unique transaction only, and then you can instantly settle payments just like UPI.

But, don't expect to earn from UPI Payments anymore. You can't expect Laddoos from all sides.

So as suggested by many others above:
1. Opt for the bank whose branch is closest to your residence so that you can conveniently visit it.
2. Opt for banks with lowest downtimes in Netbanking or Mobile Banking.
3. Open accounts which provide good perks like DC Cashbacks, Free IMPS, and other facilities as per your needs.

But a lot of small sellers still use individual (non merchant) UPI account and cc won’t work for them

Obviously we can use IMPS in those cases as well!!!

So a bank account with UPI is must have

 

[iamabhisekagar]

I am having a K811. Never had any problem - even with some of my trxns even running into lakhs, besides almost all my UPI trxns thru it.

Sir I think it depends upon the annual income which one have provided during account opening process...My Uncle had put annual income of 5 Lakhs while account opening but did UPI transactions of around 8 Lakhs in a month and his account got debit freezed

 

[shrewdoc]

But a lot of small sellers still use individual (non merchant) UPI account and cc won’t work for them

Obviously we can use IMPS in those cases as well!!!

So a bank account with UPI is must have

I don't know about that, but I live in Tier 3 City and almost everyone here has a Merchant QR. It would create problems for those sellers in the coming months where they can't justify those transactions in the Savings A/c and they would be forced to shift to a Current A/c.

In all, I have one phrase for these conditions you mentioned: Cash is King.

 

[yusuf646]

Sir I think it depends upon the annual income which one have provided during account opening process...My Uncle had put annual income of 5 Lakhs while account opening but did UPI transactions of around 8 Lakhs in a month and his account got debit freezed

My Fi Infinite account was created without even asking my employment type because i had a good CIBIL Score. Does that mean i am in more risk?

 

[iamabhisekagar]

My Fi Infinite account was created without even asking my employment type because i had a good CIBIL Score. Does that mean i am in more risk?

I have no idea...🤔

 

[praful47]

My Fi Infinite account was created without even asking my employment type because i had a good CIBIL Score. Does that mean i am in more risk?

Cibil score for account opening ?

 

[yusuf646]

Cibil score for account opening ?

Yes, Fi account isn't for everyone, it's only for working individuals.

They check your credit score when opening an account. If you have a good score, then no questions will be asked, it's a direct entry.
If not, then we have to provide employment details.

I'm not sure if the process is still the same or if it has changed.

 

[Deleted member 26181]

Looking to close my IDFC and open in some PSU bank for UPI purpose only.

Dont need much, only requirements are:
1. Close to zero UPI failure rate or downtime.
2. Negligible MAB and DC charges (not gonna use this DC anyway)

Closest branches are of Indian bank, Union, PNB, BOB and SBI in this order. Not that I'll need to visit branch as it's for UPI.

In SBI I don't get any message for transaction and in Bank of Bharoda I get debit credit message after 1 hour whereas HDFC is instant

 

[AllThatStuff]

What About RBL anyone have experience regarding RBL Savings Account?

Again, shitty customer service. I had to approach RBI Ombudsman for resolution!!

 

[yusuf646]

Again, shitty customer service. I had to approach RBI Ombudsman for resolution!!

No banks are good nowadays😂😂

 

[COSMOCRAT]

In SBI I don't get any message for transaction and in Bank of Bharoda I get debit credit message after 1 hour whereas HDFC is instant

I can live with not getting SMS but how is their transaction success rate?

 

[Deleted member 26181]

I can live with not getting SMS but how is their transaction success rate?

BOB the Builder >> SBI in terms of transaction success rate, personally I'll go with BOB coz of 4 digit UPI Pin thing

 

[yusuf646]

Hey @SSV how was I able to mark my own post as solution? Is this a feature or an unlimited solutions glitch? 😂

 

[SSV]

Hey @SSV how was I able to mark my own post as solution? Is this a feature or an unlimited solutions glitch? 😂

Yes, its a good question...
@@vaibhav111 and @TechnoFino any feed back??