Need Suggestion regarding best bank account

[Meowmeow]

Hlo everyone,

I need suggestion regarding best bank account to open digitally. My reason to go for new account is that I want to add or create credit lines or instant personal loan or credit card ( last preference ) for any emergency within next 3 to 6 months only on basis of CIBIL or customer value basis. Currently I have kotak 811 which can instantly provide Rs 30k to 50k without any documents. Similarly I have jupiter account and I am trying to do transactions from that account to have offers for mini loans etc. Last week I opened mobiquick as it provides zip service which gives 1 month loan. I have heard indie account provides credit line while opening digital account but I am not sure about it. It may be one of their tactics to open new accounts. I can't fund heavily any account but can maintain monthly average upto 20k.

Kindly suggest some bank account for that requirement only.

 

[avikrish]

I have been using HDFC, SBI, axis, yes, dbs, ICICI, indusind, IDFC, idbi, union Banks

Out of all ICICI Stands out the best to give pre approved personal loans, home loans etc... with good limits, E.g 25Lak personal loan, 96 lak home loan pre-approved in my case.

But I don't like the net banking and the statement layout which makes me inconvenient during audit.

I suggest to additionally have either union or SBI as well , union my preference, because in future you look for any home loans, union gives with less interest (close to RBI repo rate) with good limit. I know it's a govt bank, good to have one govt Bank also helps you in times of need.

 

[vine]

But I don't like the net banking and the statement layout which makes me inconvenient during audit.

Am curious now, what kind of auditing do you do and which Bank statement is more useful for you when doing such audit.

 

[vine]

I opened mobiquick as it provides zip service which gives 1 month loan.

I just heard mobikwik froze accounts in some of their services, so please be careful with fintechs and their lending services. These are not reliable.
Absolutely avoid loan apps.
Also, even for banks, before your loans are approved, they will do their due diligence, as in, if you are working, they ask for your job details etc.

 

[avikrish]

Am curious now, what kind of auditing do you do and which Bank statement is more useful for you when doing such audit.

It's normal audit only, this icici bank statement columns, letter size, description is too different, confusing, for each transaction there will be reference no/transaction I'd/utr no etc... , I don't know why icici make it so complex and mix up.

The worst part is: if I transfer 1 lak on 2nd sept 2022 on 6:00 AM IST, to yes bank, then in yes bank the amount gets reflected in account statement normally on 2nd sept, but this icici bank shows 3rd sept , when you take financial statement, which irritates us as the date is changed, this is the worst part.

I have seen this date wrong transactions a lot, cannot do anything. All those transfers are dome via mobile imps.

 

[Meowmeow]

I have been using HDFC, SBI, axis, yes, dbs, ICICI, indusind, IDFC, idbi, union Banks

Out of all ICICI Stands out the best to give pre approved personal loans, home loans etc... with good limits, E.g 25Lak personal loan, 96 lak home loan pre-approved in my case.

But I don't like the net banking and the statement layout which makes me inconvenient during audit.

I suggest to additionally have either union or SBI as well , union my preference, because in future you look for any home loans, union gives with less interest (close to RBI repo rate) with good limit. I know it's a govt bank, good to have one govt Bank also helps you in times of need.

Okay..Thank you for suggestion..
You have IDFC and indusind..Do they not provide loans without documentation as they claim in their advertisement?
I am specifically looking for those bank which can provide personal loan on basis of customer value..kotak 811 is best suitable for me as on the date it can give me 30 k to 50k personal loan ...I am looking for such bank

 

[Meowmeow]

I just heard mobikwik froze accounts in some of their services, so please be careful with fintechs and their lending services. These are not reliable.
Absolutely avoid loan apps.
Also, even for banks, before your loans are approved, they will do their due diligence, as in, if you are working, they ask for your job details e

I opened in mobiquick but I will remain cautious. Loan apps are big no no from my side..Yes I know bank will ask for job details if we avail personal loan..but 811 and jupiter provides loan solely on cibil and customer value..I am seeking for such banks. Because I have seen such emergency in my friends home where jupiter provided mini loan of 50k within hours. I am looking for such bank accounts. Thank you for suggestion

 

[avikrish]

I opened in mobiquick but I will remain cautious. Loan apps are big no no from my side..Yes I know bank will ask for job details if we avail personal loan..but 811 and jupiter provides loan solely on cibil and customer value..I am seeking for such banks. Because I have seen such emergency in my friends home where jupiter provided mini loan of 50k within hours. I am looking for such bank accounts. Thank you for suggestion

ICICI and other banks also disburse the amount swiftly only if it is pre-approved, you need to maintain good amount, spend, relationship to get the pre-approved offers, ICICI is first in this race of giving the pre-approved offers.

I am not promoting ICICI here, but pre-approved offers are good here. Sometimes if we get wrong guy , we may end up in delay of disbursement.

 

[Meowmeow]

ICICI and other banks also disburse the amount swiftly only if it is pre-approved, you need to maintain good amount, spend, relationship to get the pre-approved offers, ICICI is first in this race of giving the pre-approved offers.

I am not promoting ICICI here, but pre-approved offers are good here. Sometimes if we get wrong guy , we may end up in delay of disbursement.

Okay...how much balance will be needed for ICICI ? And here indie and idfc advertise about instant or pre approved personal loan. As you have both the accounts can you tell me experience regarding both of the accounts .

 

[avikrish]

Okay...how much balance will be needed for ICICI ? And here indie and idfc advertise about instant or pre approved personal loan. As you have both the accounts can you tell me experience regarding both of the accounts .

I already mentioned, other banks give but it is less amount like 5-7 laks , that's it, if you want more then it's not pre approved, you need to go the normal process.

Indusind is not good at loans , that's my personal opinion, the bank representative themselves don't know the products, features available with them.

ICICI maintain Rs10K amb account and you maintain 25k , keep spending, use imobile for transactions, wait for few months, you will get nice pre approved offers.

Making banks generate pre-approved good loan amount with less interest rate is an art and it is time consuming, if you are in a urgent basis need this will not work for you.

 

[Meowmeow]

I already mentioned, other banks give but it is less amount like 5-7 laks , that's it, if you want more then it's not pre approved, you need to go the normal process.

Indusind is not good at loans , that's my personal opinion, the bank representative themselves don't know the products, features available with them.

ICICI maintain Rs10K amb account and you maintain 25k , keep spending, use imobile for transactions, wait for few months, you will get nice pre approved offers.

Making banks generate pre-approved good loan amount with less interest rate is an art and it is time consuming, if you are in a urgent basis need this will not work for you.

Thank you so much ..will go for icici bank