Salary account for take home slightly less than 2L Per Month

[kjs]

Hello TF Family , I am looking to change my existing ICICI Salary account to either of the below account . My company has tie-ups with the below banks..

AXIS
CITI
HDFC
HSBC
ICICI
IDBI
IDFC
KOTAK
SBI
STANDARD CHARTERD

Want to avoid Foreign banks as branches are limited .

Prob with ICICI

1) Don't like the branch service. Privilege banking is of no use. You have to anyways wait for your query to get resolved.
2) They are not aware of the salary account benefits like adding family members , account salary range wise(not mentioned in website also) , add on debit card .For every such query need to show them actual proof on website.. Some times I feel I know more than them related to accounts at least.
3) No great credit and debit card offering.

The only good part is its Mobile App experience.

I had account with HDFC which was salary account from 2014-2020 , still using as 0 balance account with LTF Easyshop Visa Platinum Debit card and I am never charged.
Should I go again with HDFC ?

Have used Axis priority before and was able to easily open spouse account with 2L initial funding. But had to close as I had to open ICICI for home loan EMI deduction , and the RM of axis was a RM cum Sales person.


Let me know thoughts , suggestions ? Looking for good over all exp

 

[ARV]

Frankly speaking there is no much difference in service between HDFC & IDFC, I have both. IDFC took 3 months to upgrade to select. IDFC has a slightly better interface and debit card has BMS ticket offer and extra lounge access for companion but HDFC has 1% CB upto 750rs PM on utility and CC bills. My sal is same as yours. Most banks will give their best CC for ur salary, No need to open an account just for CC

 

[ARV]

I remember speaking customer care and they saying 2 lacs salary is eligible for wealth. Try connecting the customer care

IDFC Wealth is >3L sal, opened my Sal account in Jan. 1.5 to 3L is select

 

[kjs]

I have hdfc easy shop platinum card..i have never been charged..sal account from 2014-2020..But it is 0 balance now also ..
Do you think i should open new sal account with IDFC ? I need to also open family 0 bal account with my sal account..is that possible with idfc bank sal account ?

 

[mojo_jojo123]

what is the benefit of axis burgundy ac ?

 

[MusicalMind]

is your salary 2 lakhs per annum or month? If it is 2 LPA as per title you'll not get wealth or burgundy accounts with that salary

 

[kjs]

is your salary 2 lakhs per annum or month? If it is 2 LPA as per title you'll not get wealth or burgundy accounts with that salary

Oops !! It would be slightly less than 2LPM .. I completely missed it..

 

[kjs]

is your salary 2 lakhs per annum or month? If it is 2 LPA as per title you'll not get wealth or burgundy accounts with that salary

Title edited now

 

[ARV]

I have hdfc easy shop platinum card..i have never been charged..sal account from 2014-2020..But it is 0 balance now also ..
Do you think i should open new sal account with IDFC ? I need to also open family 0 bal account with my sal account..is that possible with idfc bank sal account ?

I am sure about family salary account in IDFC, have not checked. Please check with RM

 

[kjs]

I am sure about family salary account in IDFC, have not checked. Please check with RM

I need to check with CC since I dont have account with IDFC.

 

[kjs]

Someone on this forum managed to negotiate with Axis for opening a Burgundy salary account with a net credit of 2 lakhs pm. Try your luck and see. The normal requirement is 3 lakhs pm
Also, you need to ask them whether the system would flag your account for a downgrade if the monthly deposit is less than 3L. That part wasn't clear in the previous case

Had gone to branch .the BM told a big no .he told even if i push from here it will be rejected from top

 

[coolanshu1000]

Canara Bank has launched new payroll account package on 1st april in which we are getting free rupay Select Debit Card and Rupay Select Credit Card for salary above 1 lac. Some features are No minimum balance requirement, Temporary OD facility, free NEFT, RTGS, IMPS, SMS chgs, unlimited DD, discount on lockers, processing charges etc., Free term life insurance, accident insurance etc.
Check the snippets attached.

 

[kjs]

Canara Bank has launched new payroll account package on 1st april in which we are getting free rupay Select Debit Card and Rupay Select Credit Card for salary above 1 lac. Some features are No minimum balance requirement, Temporary OD facility, free NEFT, RTGS, IMPS, SMS chgs, unlimited DD, discount on lockers, processing charges etc., Free term life insurance, accident insurance etc.
Check the snippets attached.

my company supports only SBI from PSU list.

 

[roadrunner]

As called out by others in this thread, branch experience is purely contingent on the team managing the branch.
One possible way to mitigate this experience is by going super premium if possible (Axis Burgundy, ICICI Wealth etc); but that is only a mitigation factor.

What I would recommend is identify banks in a range of 3-4 KMs radius from your residence. Remove all banks not in the list.
Then do some basic lookup on their website for salary account package for features you would like (discounted locker, credit cards, debit cards, fees
on various options of fund transfer etc).

Then walk into the top 3-4 that you have shortlisted - I would suggest walking in during peak business hours just to gauge the foot traffic. Interact with the staff and that should give you an idea on how your service is going to be.

I almost never walk into any of the branches that I have account with, as I am a heavy internet user and depend on the financial tools provided.
I have account with SBI, ICICI and Axis; with least foot traffic seen in Axis bank.

 

[Salvo08]

Axis/HDFC will help you in the long run with a salary account.

 

[Tejo]

Hello TF Family , I am looking to change my existing ICICI Salary account to either of the below account . My company has tie-ups with the below banks..

AXIS
CITI
HDFC
HSBC
ICICI
IDBI
IDFC
KOTAK
SBI
STANDARD CHARTERD

Want to avoid Foreign banks as branches are limited .

Prob with ICICI

1) Don't like the branch service. Privilege banking is of no use. You have to anyways wait for your query to get resolved.
2) They are not aware of the salary account benefits like adding family members , account salary range wise(not mentioned in website also) , add on debit card .For every such query need to show them actual proof on website.. Some times I feel I know more than them related to accounts at least.
3) No great credit and debit card offering.

The only good part is its Mobile App experience.

I had account with HDFC which was salary account from 2014-2020 , still using as 0 balance account with LTF Easyshop Visa Platinum Debit card and I am never charged.
Should I go again with HDFC ?

Have used Axis priority before and was able to easily open spouse account with 2L initial funding. But had to close as I had to open ICICI for home loan EMI deduction , and the RM of axis was a RM cum Sales person.


Let me know thoughts , suggestions ? Looking for good over all exp

you can use kotak for care waiting period is less, but tries to sale their insursnce products, online customer care is best but not offline.

icici best but need patience.

for cc, hdfc. axis cards benfits are now on first come basis.

i advise you to take kotak, for cc amex, hdfc, bob eterna, indus, stanC

 

[kjs]

As called out by others in this thread, branch experience is purely contingent on the team managing the branch.
One possible way to mitigate this experience is by going super premium if possible (Axis Burgundy, ICICI Wealth etc); but that is only a mitigation factor.

What I would recommend is identify banks in a range of 3-4 KMs radius from your residence. Remove all banks not in the list.
Then do some basic lookup on their website for salary account package for features you would like (discounted locker, credit cards, debit cards, fees
on various options of fund transfer etc).

Then walk into the top 3-4 that you have shortlisted - I would suggest walking in during peak business hours just to gauge the foot traffic. Interact with the staff and that should give you an idea on how your service is going to be.

I almost never walk into any of the branches that I have account with, as I am a heavy internet user and depend on the financial tools provided.
I have account with SBI, ICICI and Axis; with least foot traffic seen in Axis bank.

Finally choose my oldest account in the lot HDFC , there are almost 5 branches within 3 - 4 kms .. visited 2 branches near me .had mixed experience.. one of the branch told let 3 month sal get credited you will automatically get Preferred / classic . in case it dosent just give me a call ad I will get it checked. also for family account they told it would be 5k minimum bal and not 0 balance as per t&c of preferred & the family member will get all the benefits of preferred

 

[kjs]

you can use kotak for care waiting period is less, but tries to sale their insursnce products, online customer care is best but not offline.

icici best but need patience.

for cc, hdfc. axis cards benfits are now on first come basis.

i advise you to take kotak, for cc amex, hdfc, bob eterna, indus, stanC

I just checked the available offers in ICICI MObile app and they started calling like 5 calls in day for 2 3 days. also I got a msg from CIBIL citing some one has done a hard enquiry . I think it must be these guys only . So ICICI is a big no for me. HDFC personally has never spammed me when i checked offers , 3rd party agents do call but they are not specific to any bank . also in case of HDFC the RM has never spammed me . Even for a non sal 0 bal account for 3 yrs I was never charged for anything .So i opted for HDFC again

 

[samarthkumar]

F

Someone on this forum managed to negotiate with Axis for opening a Burgundy salary account with a net credit of 2 lakhs pm. Try your luck and see. The normal requirement is 3 lakhs pm
Also, you need to ask them whether the system would flag your account for a downgrade if the monthly deposit is less than 3L. That part wasn't clear in the previous case

For Burgundy salary account, a net monthly salary deposit of 2-3 Lakh is safe to maintain the account status.Not sure about how downgrade works for salary account, because for Savings account, Axis is pretty quick in deducting penalty for not maintaining Avg monthly balance (happened with me for Priority Savings Account)

 

[MoneyMaven]

F

For Burgundy salary account, a net monthly salary deposit of 2-3 Lakh is safe to maintain the account status.Not sure about how downgrade works for salary account, because for Savings account, Axis is pretty quick in deducting penalty for not maintaining Avg monthly balance (happened with me for Priority Savings Account)

I recently visited the branch regarding Burgundy account, they denied it and stated that burgundy is only possible for 5L. The executive took a U-turn when I showed him the official website, which clearly states it's 3L.

 

[credit_debit]

Have you checked DBS? https://www.dbs.com/digibank/in/dbs-forms/cep-contact-me.page#subCategory1

With their takeover of Laxmi Vilas Bank, they have decent network and good benefits on salary account.