NikhilG
TF Premier
I'm sorry the debit card is chargeable.
I just opened the utkarsh account. I will share my experience
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SA with high interest rates or a bank FD?
I just opened the utkarsh account. I will share my experience
RSDC Charges?
Account variant name?
NikhilG
TF Premier
I recommend IDFCFirst Private account based on your requirements. It is not a small bank, good balance sheet and on its way to be one of the larger banks. Gives 7.25% interest above 10L. Also, interest payments are credited monthly, so compounding factor is better.
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I feel between Utkarsh and IDFC, the latter is a much better option. Utkarsh is an SFB. From your needs, I understand that you might have money moving in and out. With SFBs, as soon as your money moves out, you will get calls, and they'll also pester you a lot for keeping more balance and also do a lot of questioning regarding why did you move your money out and all. These things will also happen with larger banks like IDFC, but if you tell them to stop bothering you, they will stop bothering you. The balance sheets of the two banks are not comparable. Every branch of Utkarsh will have huge stress regarding daily closing balance and things like that. Just make sure you know what you're getting into.
I agree that in Equitas I get these from my virtual RM. but in Utkarsh i don't get them. i dont know why. nevertheless i maintain good balances in UTKS & not in Equitas due to interest rates & non-harassment.
In IDFC also I don't get calls. One reason might be that in both UTKS & IDFC I complained to PNO about some issue.
NikhilG
TF Premier
Finally i opened standard savings account because i wanted to test and play with if first. I asked customer care and they said dc is chargeable so I opted it out for now. On board experience was okay and aqb is 5k for this. Can this 5k be kept in fd as well?
NikhilG
TF Premier
I just on boarded with utkarsh to see and play out because you see the reality when you start using it. That's why i just opened the standard savings account with aqb of 5k and that too without dc. One thing I notice is just 3 lac transfer limit of rtgs, very mediocre customer support
NikhilG
TF Premier
So I did a lot of testing, here is my review.
Onboarding is smooth.
Customer support is mediocre
App is old school and buggy(I couldn't manage to upload a profile pic)
Tried web online banking and the whole feature of upload image doesn't work, keeps on loading and stack trace has lot of errors.
Also the website uses old encryption snd it is not safe to do online transfers, can be easily hacked as well.
My advice stay away!
