Premium Bank accounts to collect (usually with 0mab)

[saucy]

Planning to collect bank accounts as well?
Here are all the accounts you should look into.

0 MAB accounts will be added at the botton, because then it's not a collection, is it?

salary accounts not included yet - since they get 0 MAB pretty much everywhere except SC I guess🤔
Do let me know if it's possible to retain 0 MAB without getting salary in an account anymore.

P.s. please read this post till the end, most of the answers from the threads have been summarised/added here.

P.p.s pls do ask if there's some doubt
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ICICI BANK
Wealth Management account

• free cibil score
• cool black theme
• welcome kit (chequebook purse, card, deposit slips, cheque book)
• 0 amb
• visa signature/ mc world
• family banking
• dedicated RM
• direct conntection to agent when you call their helpline
• pre-approved credit cards in a few months

- 1-5L IP cheque/neft. 3L has been reported by many members -- I personally got for 1L
- upgrade existing account by maintaining 25L amb
- upgrade from regular accounts on crossing 5L in credit card limit from the bank
- no need to buy any other thing along with it, such as insurance or demat account.
- may negotiate for a LTF sapphiro

Here is a link to read about my whole journey of opening the account.

HDFC BANK
Preferred/Classic /Imperia
these are relationship status. Account type is usually savings max.

• dedicated RM (you can get the branch manager to be RM for preferred/imperia)
• Technically 0 AMB
• family banking
• Easy shop platinum debit card is free - gives 1% cashback on credit card bill payment
• HELPS UPGRADE MONEYBACK+ to better cards
• If opening a new account, you can get account number of your choice

- 2L/1L amb in existing account for 3 months, then request branch for upgrade
- IP cheque of 2L/1L (for new accounts) (IP is initial Pooling/payment that you make for opening new account)
- Imperia offered for 5L IP, or 10L balance maintenance
- they send a consent link, clicking which your account gets upgraded.
- once you have the upgrade, all the family accounts that are linked also get the same benefit.

I manually had to fight to get the upgrade. It's purely in the hands of the BM. Interview wagerah liya, and they do keep a track of how many emails/complaints you've raised with higher authority. More complaints = less likely the BM would want to upgrade your account (since you may complain about the BM)
I kept about 5L for a month and talked to BM and got the upgrade. Reduced funds to 2L later on.

IDFC first Bank
FUTURES FIRST ACCOUNT

• 0 amb
• Helps tremendously for getting credit cards pre approved. However you might get a lower variant than what you may get by c2c or ITR method.
• Decent app and service.
• Marginally better FD rates.
• Visa signature debit card.

0amb account for "premire institutions graduates" i.e. people who have graduated or studying.
- can be opened offline only (No institute graduation checked LoL)😛
- 2% cashback on credit card payment after 20k Idfc is in a weird place wrt rewards.
- old accounts can't be converted to this variant. It's a completely different fish.

My process - I went to the nearest branch. They said they can't open the account. Gave various reasons why it can't be opened etc etc.
I threatened them that their cust care directed me to this branch. Suddenly I was ushered into the BM office. Did the same dance again (I think they just play on the fact that general junta is a bit afraid - because they don't read the docs about the product)
BM got me the account within the next 10 mins. No cheque. No ID check. I entered "salaried" in occupation.
Added some funds into the account myself and the debit card reached me in 2 days.
The debit card is generated only after you add.funds.
Keep some good funds in it to get credit card offers quicker.

SBM Bank
SBM Wealth

• Visa signature

- 5L IP cheque
-
SBM bank opens with 5L, but needs you to maintain 30L NRV

IndusInd bank
Select savings account (legend)
Exclusive savings account (pinnacle)

• (To be added)

- get Legend CC (can be attained ltf) then creat account or link with the credit card (needs 50k IP)
- Seasonal offers

As suggested by @tryabp : if you have spare funds of 5 lac then you can directly open Grande account >> Get Pinnace CC for Free >> Then Downgrade Account to Exclusive.

RBL Bank
Aspire/Signature/Insignia (insignia has an amb requirement)

• High interest rates - 4.25% upto 1L, 5.5% over 1L
• 0 amb
• Lounge access (2/qtr)
• Signature+ debit card - spend 5L in a year and get 2% cashback
• Easy access to RBL credit cards
• Home visit for banking provided in signature variant (eg getting cash delivered home)
• Account number of your choice

Eligibility -
1. Aspire - 1L in SA or CA
2. Signature - 2L in SA or 5L in CA
3. Insignia - 10L in CA
I was offered Aspire for 2L IP and Signature for 5L IP

You can directly open account with the above amounts. Can apply for any debit card or credit card along with the account opening forms

With RBL it's about hitting the right people. An agent who is a signature RM will get you signature account for the same 2L IP. While Aspire RM will push you to get aspire.
Aspire can be gotten for 1L with good negotiation.
I got offered Signature for 2L, but opened aspire with 1L (since I was dealing with aspire rm)

Account opens in 2 days, and they usualy conduct house verification.

Kotak Bank
Privy league accounts

AMB - 50K (Neon Account)
AMB - 0 (Platinum account)

• Essentially get 10% interest on the 50k deposit
• Essentially a premium credit card, with 4 complimentary Priority Pass

- open a neon privy account
- buy privy signature credit card (2800 p.a.)
- spend 1k on the card every month religiously
- get ₹6400 per year
-benefits of the credit card
- premium banking account

SPECIAL MENTION
Regular bank accounts in PSBs
- get rupay select debit card (check here )

• 1 month cult elite
• 1 free spa session
• 1 free medical test
• Golf
• OTT

Easiest account to open should be Bank of Baroda (needs your registered mobile and Aadhaar mobile to be the same)
In-branch experience was best for Indian Bank > BoB > central bank > union bank

If you guys have experience/ info about more accounts, please share. I would update the thread as and when i get those accounts.

 

[vine]

But Pioneer should be free for Pioneer program holders right? This seems like a nice trick to get Pinnacle CC first and then Pioneer DC later (if the Exclusive DCs are going to be left alone)

Pioneer DC is free for pioneer account

 

[kiwi195]

What's the required Initial funding for privy league platinum?

 

[Vinay13]

What's the required Initial funding for privy league platinum?

Can I shift my salary account and get kotak privy?
How to get it? RBI ban has impacted any new account opening ?

 

[vine]

Can I shift my salary account and get kotak privy?
How to get it? RBI ban has impacted any new account opening ?

You need to open an account offline. There is no online process.

 

[Vinay13]

You need to open an account offline. There is no online process.

Okay how much is initial funding is required? And do we have to maintain trv?

 

[vine]

Okay how much is initial funding is required? And do we have to maintain trv?

For Kotak privy salary a/c, Neon for min 50k, Platinum for min 1L, Black for min 3L.
For AMB, Neon for 2L, platinum for 10L, Black is 1 CR.

Yes, we need to maintain balance. I have heard people being charged for DC after downgrading. YMMV.

 

[cardio_guy]

None of the premium banking accounts offer a zero balance or zero minimum average balance (MAB) option. They require you to maintain the Total Relationship Value (TRV) according to their specified requirements. Although the initial month may be covered with initial funding, accounts will be downgraded after three months if the eligibility criteria are not met.

 

[Vinay13]

For Kotak privy salary a/c, Neon for min 50k, Platinum for min 1L, Black for min 3L.
For AMB, Neon for 2L, platinum for 10L, Black is 1 CR.

Yes, we need to maintain balance. I have heard people being charged for DC after downgrading. YMMV.

KOTAK seems usless, not much benefits

 

[Ram1]

None of the premium banking accounts offer a zero balance or zero minimum average balance (MAB) option. They require you to maintain the Total Relationship Value (TRV) according to their specified requirements. Although the initial month may be covered with initial funding, accounts will be downgraded after three months if the eligibility criteria are not met.

Icici & idfc wealth downgrades, i never heard

 

[devsfinance]

Icici & idfc wealth downgrades, i never heard

I guess I was among the few unlucky ones for whom ICICI wealth was downgraded, just posted a thread about it.

 

[cardio_guy]

I guess I was among the few unlucky ones for whom ICICI wealth was downgraded, just posted a thread about it.

My ICICI Wealth was also downgraded last week.

 

[anonymuos]

My ICICI Wealth was also downgraded last week.

For those for whom ICICI Wealth management was downgraded, was it opened as a Wealth management account or as some other a/c and later upgraded to Wealth management?

 

[techprince]

I have all the mentioned accounts except for SBM and Kotak. Opt for lower tier of HNI programs, do family grouping wherever possible and create FDs so that TRV value increases. You don't need to maintain the exact TRV.