salary account suggestion for 1.7L monthly credit

[cardio_guy]

Hi All,


Firstly, I understand that this topic has numerous threads, but please bear with me as I wanted to share my personal needs as well.

I have my primary savings account with SBI, which is linked to almost everything - PPF, SIP, regular transactions, etc.

My net salary credit is between 1.7 to 1.8L per month.
Currently, I hold an ICICI salary account (WM), which I use solely for salary credit. I then transfer everything to my SBI account, from which all transactions are made.

I don't have any loans or outstanding EMIs. (In future I might take a housing loan at the max, but not anything else)

The main benefit I see in a salary account is the zero balance requirement. Other than that, I am primarily interested in obtaining a higher/premium variant credit card.
Common salary account benefits like higher withdrawal limits, zero NEFT/IMPS charges, insurances, free locker facilities, and preferred forex rates are there for all banks.

ICICI has provided me with a Sapphiro credit card LTF. They mentioned that the Emeralde card requires a net salary credit of 4L+ per month.
There seems to be no option to obtain the Emeralde card LTF through the branch or RM, only via the app.

My travel needs are relatively minimal, with perhaps one train journey a month and one flight trip every 2-3 months.
Hotel stays are also infrequent, maybe once every 4 months that too for 1 or 2 days.

My company has tie-ups with the following banks for salary accounts: ICICI, HDFC, Axis, HSBC, and DBS.
The account variants offered, which I might be eligible for, include:
• ICICI: Wealth Management (currently holding)
• HDFC: Premium
• DBS: Elevate or Treasures
• Axis: Priority or Burgundy
• HSBC: Corporate

Given these options, which bank do you think would be a good switch for my salary account? Or should I just keep going with ICICI itself?

 

[kiwi195]

Can probably go with HDFC and ask for Preferred or Imperia banking. You can also negotiate for a good LTF credit card to begin with if you would like one

 

[Akshay Ajmera]

Can probably go with HDFC and ask for Preferred or Imperia banking. You can also negotiate for a good LTF credit card to begin with if you would like one

I want to know how do you exactly negotiate.
I have imperia salary account since past 3 months and current holding hdfc regalia first credit card as ltf. It's a worst card as of today as all the benefits have been stopped and this card is also discontinued.

I requested to upgrade this card to ltf millinia, but they declined my request saying that it won't be ltf.

 

[gurbina]

I want to know how do you exactly negotiate.
I have imperia salary account since past 3 months and current holding hdfc regalia first credit card as ltf. It's a worst card as of today as all the benefits have been stopped and this card is also discontinued.

I requested to upgrade this card to ltf millinia, but they declined my request saying that it won't be ltf.

Sounds like it's time to come tell them you'll be closing your account... Nothing to lose

 

[MrMonkey]

I want to know how do you exactly negotiate.
I have imperia salary account since past 3 months and current holding hdfc regalia first credit card as ltf. It's a worst card as of today as all the benefits have been stopped and this card is also discontinued.

I requested to upgrade this card to ltf millinia, but they declined my request saying that it won't be ltf.

Millennia only has 1L as spend based fee waiver. Unless you cannot reach it yearly, don't bother for LTF and just take it

 

[kjs]

Even I have HDFC Imperia , not sure how even it got upgraded to Imperia. have following banking relationships.
- Term Life Insurance of HDFC life.
- HDFC regalia gold cc with 9L limit
- Salary account with similar sal credit.

for Infinia cc they told me to spend atleast 6-7L in 6 months also it will be not LTF.

For your salary account , just choose bank close to your proximity , the max you can get with sal account is a decent LTF cc don't expect more & don't chase petty cashbacks & change/close bank accounts randomly for cashbacks. try to hold 1-2 accounts for longer duration may be useful sometime in future.

 

[HumorSimpson]

Hi All,


Firstly, I understand that this topic has numerous threads, but please bear with me as I wanted to share my personal needs as well.

I have my primary savings account with SBI, which is linked to almost everything - PPF, SIP, regular transactions, etc.

My net salary credit is between 1.7 to 1.8L per month.
Currently, I hold an ICICI salary account (WM), which I use solely for salary credit. I then transfer everything to my SBI account, from which all transactions are made.

I don't have any loans or outstanding EMIs. (In future I might take a housing loan at the max, but not anything else)

The main benefit I see in a salary account is the zero balance requirement. Other than that, I am primarily interested in obtaining a higher/premium variant credit card.
Common salary account benefits like higher withdrawal limits, zero NEFT/IMPS charges, insurances, free locker facilities, and preferred forex rates are there for all banks.

ICICI has provided me with a Sapphiro credit card LTF. They mentioned that the Emeralde card requires a net salary credit of 4L+ per month.
There seems to be no option to obtain the Emeralde card LTF through the branch or RM, only via the app.

My travel needs are relatively minimal, with perhaps one train journey a month and one flight trip every 2-3 months.
Hotel stays are also infrequent, maybe once every 4 months that too for 1 or 2 days.

My company has tie-ups with the following banks for salary accounts: ICICI, HDFC, Axis, HSBC, and DBS.
The account variants offered, which I might be eligible for, include:
• ICICI: Wealth Management (currently holding)
• HDFC: Premium
• DBS: Elevate or Treasures
• Axis: Priority or Burgundy
• HSBC: Corporate

Given these options, which bank do you think would be a good switch for my salary account? Or should I just keep going with ICICI itself?

wait till feb 2025 , to reach their FY targets the banks will be willing to budge to you .

 

[cardio_guy]

Thanks for the responses. (Y)