Please provide your suggestions for a new bank account.

[raghavx]

(Asking this for my sister)

Hi,

I currently have an ICICI Savings account (10k FD one). Hence, No MAB. I have other bank accounts as well which include DBS, Fi, Jupiter, and Paytm Payments Bank. (Opened all initially because some of the others had some offer and all of them were/are Zero Balance accounts). DBS has started charging if MAB falls below 5k.

So, DBS is what I use for day-to-day transactions. I load some money every month from my ICICI Bank account (I use my ICICI savings account for salary credit) and then use it from DBS.

Now I am thinking to have a separate bank account for separate concerns.

Which includes

1. Salary Account
2. Account for day-to-day transactions
3. Bank account for investments
4. Emergency/Savings Account

• I am not sure which salary account bank should I go for. I got to know if monthly salary credit is > 1 Lakh/month there's Axis priority salary account. What are your thoughts on this? Do you have any other suggestions for salary accounts? I am confused between the Axis priority salary account and the HDFC salary account.
• For day-to-day transactions, I was thinking to have a zero balance account. Got to know about SC Basics Savings and HSBC Basics Savings, both of them don't charge anything for debit cards, plus there are unlimited withdrawals from any bank ATM with SC Basics. Or in the end, I might have DBS only as I like the app.
• For the Investments account, I'll keep my ICICI Savings account only.
• For the Emergency/Savings fund I was thinking to open an account with IDFC first bank (25k MAB).

(Not thinking to close Paytm Payments Bank, Fi, Jupiter, what do you say? Since they are of Zero MAB).

Please share your thoughts, everyone! Much appreciated!

 

[BankExpertIndia]

Do you have an account in IDFC?

Yes...

 

[Krish]

Same

you also have the partner account in Indusland?

 

[Krish]

No, they sometimes consider. I got one from HDFC.

But when they are giving the pre approved offer for CC, no enquiry will be done on our Cibil, so the offer is not based on cibil score.

 

[Krish]

I have Indus Max Active - 25K MAB

Is this same compared to savings Max of HDFC? Everything free?

 

[BankExpertIndia]

• Sounds good @BankExpertIndia. However, yes I don't want to keep more money in a single bank account. Like wealth or such, No plans for it now. What are the benefits of the Axis Priority salary account? People always say that axis has bad customer care support.
• Also, HDFC SavingsMax has always been in my mind, though confused if I should have this for savings or salary.
• What are the benefits of IDFC 10K? Its debit card is also not that cool.
• Perfect! StanC is what I am thinking as it comes with Unlimited ATM Transactions. Or will consider as there are not many benefits.
  
  
  Thank you for the amazing advice 🙏

In Axis : I Mentioned Axis Priority As A Salary Account Because You Don't Have To Maintain 2L In The Account... And It's The Second Most Premium Account Of Axis Bank.

In HDFC : I Mentioned Savings Max Because After That HNI Account Variants Come.

In IDFC : There Is Not Much Difference Between 10K MAB & 25K MAB

For Day 2 Day : Open StanC Or HSBC

For Investments : IndusInd (FD) Otherwise Zerodha 3-In-1 Account (Equity , Mutual Funds)

By Following The Above You Will Be Having Many Bank Accounts. So It Will Help In Getting CC.

 

[BankExpertIndia]

Even priority is not worth it ... Only Burgundy is

Priority Is Somewhat Okay... But The Whole Potential Is Unleashed With Burgundy

 

[BankExpertIndia]

Hey, I have not opened the IndusInd account. @HyperBeast has opened it and he can guide you.
@HyperBeast Please reply.
@SC_23 You can find the thread here : https://www.technofino.in/community...tner-account-suggestion.757/page-8#post-18636

He has mentioned about him opening it as a single user
Edit: As per his post and Schedule of Charges PDF link ... Its is free, no annual DC Charges.

View attachment 1838

Yes We Can Open Partner Account For Single User Also... But It's Mainly A Joint Account

 

[007007 is verified member.]

In Axis : I Mentioned Axis Priority As A Salary Account Because You Don't Have To Maintain 2L In The Account... And It's The Second Most Premium Account Of Axis Bank.

In HDFC : I Mentioned Savings Max Because After That HNI Account Variants Come.

In IDFC : There Is Not Much Difference Between 10K MAB & 25K MAB

For Day 2 Day : Open StanC Or HSBC

For Investments : IndusInd (FD) Otherwise Zerodha 3-In-1 Account (Equity , Mutual Funds)

By Following The Above You Will Be Having Many Bank Accounts. So It Will Help In Getting CC.

Which variants for StanC and HSBC? And what are the charges and benefits associated, please share? 👀

 

[BankExpertIndia]

Which variants for StanC and HSBC? And what are the charges and benefits associated, please share? 👀

BSBDA (Basic Savings Bank Deposit Account)

Benefits : Free DC... Zero MAB Account From International Banks

 

[007007 is verified member.]

BSBDA (Basic Savings Bank Deposit Account)

Benefits : Free DC... Zero MAB Account From International Banks

Ohh okay. Will check those out!

 

[007007 is verified member.]

Ohh okay. Will check those out!

So, I checked... Is the only way to open these accounts is via a branch? 👀

 

[BankExpertIndia]

So, I checked... Is the only way to open these accounts is via a branch? 👀

Yes.. I Think So...

 

[SC_23]

I have priority
It's not okay

If someone really wants an account at Axis, I would suggest Burgundy or nothing

Any specific reason or their are charges in priority account as well ?

 

[TheTrickySid]

Can you confirm with indusind that they will not charge you annual dc charges?

And you opened it as single holder right?

Also did you confirm if you can upgrade to exclusive zero mab if you get Pinnacle cc or that offer is only for new customers?

No dc charges

Yes I opened single holder

I didn't confirm but you can upgrade or downgrade accounts in any bank without any restriction no need to confirm that,
Btw I too have plans to upgrade to exclusive once I get Pinnacle cc🤞🏻

 

[TheTrickySid]

Hey, I have not opened the IndusInd account. @HyperBeast has opened it and he can guide you.
@HyperBeast Please reply.
@SC_23 You can find the thread here : https://www.technofino.in/community...tner-account-suggestion.757/page-8#post-18636

He has mentioned about him opening it as a single user
Edit: As per his post and Schedule of Charges PDF link ... Its is free, no annual DC Charges.

View attachment 1838

Done

 

[TechnoFinoTechnoFino is verified member.]

(Asking this for my sister)

Hi,

I currently have an ICICI Savings account (10k FD one). Hence, No MAB. I have other bank accounts as well which include DBS, Fi, Jupiter, and Paytm Payments Bank. (Opened all initially because some of the others had some offer and all of them were/are Zero Balance accounts). DBS has started charging if MAB falls below 5k.

So, DBS is what I use for day-to-day transactions. I load some money every month from my ICICI Bank account (I use my ICICI savings account for salary credit) and then use it from DBS.

Now I am thinking to have a separate bank account for separate concerns.

Which includes

1. Salary Account
2. Account for day-to-day transactions
3. Bank account for investments
4. Emergency/Savings Account

• I am not sure which salary account bank should I go for. I got to know if monthly salary credit is > 1 Lakh/month there's Axis priority salary account. What are your thoughts on this? Do you have any other suggestions for salary accounts? I am confused between the Axis priority salary account and the HDFC salary account.
• For day-to-day transactions, I was thinking to have a zero balance account. Got to know about SC Basics Savings and HSBC Basics Savings, both of them don't charge anything for debit cards, plus there are unlimited withdrawals from any bank ATM with SC Basics. Or in the end, I might have DBS only as I like the app.
• For the Investments account, I'll keep my ICICI Savings account only.
• For the Emergency/Savings fund I was thinking to open an account with IDFC first bank (25k MAB).

(Not thinking to close Paytm Payments Bank, Fi, Jupiter, what do you say? Since they are of Zero MAB).

Please share your thoughts, everyone! Much appreciated!

you can get easy Credit card from the bank where you holds salary account, so choose bank for salary account wisely.
for day to day use, Neo banks can be a very good option
for emergency fund, get HDFC/ICICI/Axis/IDFC

 

[raghavx]

you can get easy Credit card from the bank where you holds salary account, so choose bank for salary account wisely.
for day to day use, Neo banks can be a very good option
for emergency fund, get HDFC/ICICI/Axis/IDFC

Idk why It never feels safe to put over 5L in IDFC 😅

 

[TechnoFinoTechnoFino is verified member.]

Idk why It never feels safe to put over 5L in IDFC 😅

haha... IDFC First bank's balance sheet looking good from last few years. Pretty safe... but if you are not comfortable... go for a big bank like HDFC/ICICI/Axis

 

[DISHANT]

Anyone having StanC platinum debit card? Is StanC platinum debit card eligible for reward on wallet reload?

 

[dav33]

i see all debit cards from axis are chargeable til priority account. is it mandatory to apply for physical debit card in axis. i dont want to pay for debit card charges. which account from axis will be good for low MAB