Priority or Privileged Bank Account (Need Suggestions)

[wolfdalalstreet]

Some banks offer specific priority or privileged bank accounts where you need to keep a certain balance in your Savings Account (say 4 Lakhs or 5 Lakhs or more). They offer benefits on Debit Cards and Credit Cards etc on such accounts.

I need suggestions from this forum as to do you have hold/know of such bank accounts? If yes, which bank, variant and what are the benefits.

 

[SC_23]

Any other benefit(s)?

Nothing significant

 

[TheTrickySid]

What benefits does Classic offer over and above the Savings Max account (other than a dedicated marketing guy)?

No compulsion for mab.
Else everything same as savings max apart from rm

 

[007]

No compulsion for mab.
Else everything same as savings max apart from rm
View attachment 1753

View attachment 1755

Hmm. No significant benefits compared to Savings Max account. Family banking could be beneficial to some, and according to what I heard RM's are pretty much useless!

 

[TheTrickySid]

Hmm. No significant benefits compared to Savings Max account. Family banking could be beneficial to some, and according to what I heard RM's are pretty much useless!

Not always RM's are useless sometimes they might be useful but in most of the cases they are useless.

 

[Krish]

What benefits does Classic offer over and above the Savings Max account (other than a dedicated marketing guy)?

No charges for not maintaining MAB!

 

[007]

No charges for not maintaining MAB!

Hmm but considering that your MAB gets 4 times (1 lac) vs the Savings Max MAB (25K), it's doesn't make sense!
Also won't they they simply downgrade the account (after sometime) on non-maintenance of MAB?

 

[ashwinkashwink is verified member.]

Hmm but considering that your MAB gets 4 times (1 lac) vs the Savings Max MAB (25K), it's doesn't make sense!
Also won't they they simply downgrade the account (after sometime) on non-maintenance of MAB?

Yes they do downgrade..

 

[Krish]

Hmm but considering that your MAB gets 4 times (1 lac) vs the Savings Max MAB (25K), it's doesn't make sense!
Also won't they they simply downgrade the account (after sometime) on non-maintenance of MAB?

I don’t maintain 1 lac , idk if they’ll downgrade, it’s been 4 months and they have not downgraded yet.

 

[007]

I don’t maintain 1 lac , idk if they’ll downgrade, it’s been 4 months and they have not downgraded yet.

Ohh. But I heard that they do downgrade!

 

[SC_23]

Ohh. But I heard that they do downgrade!

After 6-9 months as my RM told me

 

[007]

After 6-9 months as my RM told me

Ohh I see. Btw which account variant do you have?

 

[SC_23]

Hmm but considering that your MAB gets 4 times (1 lac) vs the Savings Max MAB (25K), it's doesn't make sense!
Also won't they they simply downgrade the account (after sometime) on non-maintenance of MAB?

Well you can keep 1 lakh in 1 account and treat others as zero mab otherwise you have to maintain 25k mab in all 4 to not incur any charges. It's all about convenience

 

[SC_23]

Ohh I see. Btw which account variant do you have?

Classic/savings max

 

[007]

Well you can keep 1 lakh in 1 account and treat others as zero mab otherwise you have to maintain 25k mab in all 4 to not incur any charges. It's all about convenience

Yeah that's why I said, if one doesn't avail family banking it doesn't make sense to upgrade to Classic. Also you will need to link 4 accounts to match the benefit, which I guess not everyone can do!

 

[BankExpertIndia]

Major difference is in locker rent. In Preferred 50% discount and in Imperia 100% discount. I don't know much about Classic. 0 balance requirement in Preferred and Imperia.

Which Banking Program Do You Have In HDFC? I Am In Preferred... How Can I Take Full Advantage Of It?

 

[BankExpertIndia]

Yeah that's why I said, if one doesn't avail family banking it doesn't make sense to upgrade to Classic. Also you will need to link 4 accounts to match the benefit, which I guess not everyone can do!

HNW Accounts Are Good Only If You Have Multiple Accounts In The Bank

 

[Krish]

Do you keep regular transactions?

Yes, was my primary account. Now using ICICI more to get pre approved CC offer.

 

[Princesahu92]

I have a account with hdfc and icici both and both are non maintain by me (hdfc 2 months maintain with 2 lack then no maintain)
This information normally not open by the hdfc staff but this type facilities also available in the bank both hdfc or icic
I have hdfc for preferred gold account (waived of MAB CHARGES)
Also icici wealth management account ( MAINTAIN FREE)
Not any charge deduct by bank in the name of MAB OR SMS OR DEBIT CARD ETC. ITS TOTALLY non_maintenance free account . With priority service DEDICATED RM PROVIDE BY BOTH bank

 

[Survivor35]

Not all banks are like Axis to charge even salary account

 

[kjs]

How can you forget gold ui in netbanking

Thats most confusing net banking ever i have seen