Salary account suggestion ICICI, SBI, AXIS, IDFC FIRST

[sarathtg]

I have been using my ICICI account as salary account for close to 10 years now. Currently my account is in Titanium category. In the recent times, I see that I am not getting any benefits as such from the account and my RM response is also less. Inspite of having salary account here, I had to go for HDFC for plot loan due to better interest rates and less processing fee. Other than the free transactions and wonderful digital transactions through both App and Website I am not seeing any other benefit with the account. I am also holding Apay and Coral Rupay LTF credit cards with 10.2 lakhs limit. Considering the situation , I am looking at following 3 other options and looking at members suggestions .

1. SBI - I have savings account with platinum category and have PPF maintained there. I will get platinum corporate savings account. Why I consider SBI - platinum debit cards with benefits (Rupay Select), Autosweep with FD for more interest. Unfortunately their savings account interest and mobile banking is little bad. Interest rates for loans are less but not sure if we would get easily with salary account
2. AXIS account - I am currently using Liberty saving account and using it for cc payments to get 750rs vouchers and UPI. I will be eligible for Priority salary account. I haven't got better experience with Axis from beginning but still considering.
3. IDFC First Salary account. Saw there are good features at top level. Recently got IDFC First Select CC and not sure how the salary account will be beneficial. One bad thing is their reward points claiming charges.

I can also consider other banks at the moment as my company supports close to 26 banks for salary credit. Any suggestions will be appreciated

 

[Deleted member 11974]

go fot indusind

 

[cardio_guy]

See if your company has tie up with any banks. Or if you open an account and they don't agree then it will be a problem later.

 

[drabhishekladdha]

I have Axis salary account since 2013 , have not chnaged it since . Do not expect much from salary account of any bank..unless your relationship is large with them.( or you buy ULIP from them ).
Look for a bank account which can solve your problem online..( Rm can help sometimes ,but they will keep on changing anyways) .

PS : Magnus burgundy card LTF , ( OR ATLAS lifetime free with priority, not sure about it )can make a lot of sense

 

[Deleted member 11974]

also kindly check the forum before creating a new thread on the same topic

 

[cardio_guy]

I have Axis salary account since 2013 , have not chnaged it since . Do not expect much from salary account of any bank..unless your relationship is large with them.( or you buy ULIP from them ).
Look for a bank account which can solve your problem online..( Rm can help sometimes ,but they will keep on changing anyways) .

PS : Magnus burgundy card LTF , ( OR ATLAS lifetime free with priority, not sure about it )can make a lot of sense

That's right. Just extract the benefits whatever we can. Just because we have a salary account doesn't mean they will be beneficial for all our needs. Like how they use us, we should also use them.

 

[sarathtg]

See if your company has tie up with any banks. Or if you open an account and they don't agree then it will be a problem later.

They have tie up with 26 banks with almost all major banks. So the options are really a lot

 

[sarathtg]

I have Axis salary account since 2013 , have not chnaged it since . Do not expect much from salary account of any bank..unless your relationship is large with them.( or you buy ULIP from them ).
Look for a bank account which can solve your problem online..( Rm can help sometimes ,but they will keep on changing anyways) .

PS : Magnus burgundy card LTF , ( OR ATLAS lifetime free with priority, not sure about it )can make a lot of sense

Thanks for this suggestion. Atleast getting a premium card will be beneficial. Will talk with my axis RM and see what can be done

 

[akshayhs]

Please learn how to search for existing threads on the forum before creating one. This question is already answered before.

Search results for query: Salary account

www.technofino.in

 

[kjs]

With 10.4Lakh limits with ICICI you will should still have privilege category even if you don't have salary account with ICICI. Don't expect much from salary account apart from free high variant credit cards if you are eligible. Yes its true having a salary account might not give us the best ROI or processing fee its all on your CIBIL and the Interest rates benchmark they have set.

I was having salary account with Axis but they were not ready to give me home loan for the reqd amount , later I had to take from ICICI.

Look for other things

1) Good net & Mobile banking experience where most of your transactions can be done and hardly bank visits are not required.

2) Decent to good customer support where they are solve your problems by just taking request over phone & less branch visits.

3) Prioritize what features are important for you and then you can choose.

4) Check if they provide flexibility to open account for family member so they can benefit your salary account.


You can go with IndusInd or Axis. Check which bank website that provides more details related to salary account so you can take informed decision.

Your company has 26 Bank accounts so it means it will cover top 1o PSU & top 10 Private banks easily. you can connect with POC of the banks that you shortlist and ask them what additional benefit they provide seamlessly.

 

[sarathtg]

With 10.4Lakh limits with ICICI you will should still have privilege category even if you don't have salary account with ICICI. Don't expect much from salary account apart from free high variant credit cards if you are eligible. Yes its true having a salary account might not give us the best ROI or processing fee its all on your CIBIL and the Interest rates benchmark they have set.

I was having salary account with Axis but they were not ready to give me home loan for the reqd amount , later I had to take from ICICI.

Look for other things

1) Good net & Mobile banking experience where most of your transactions can be done and hardly bank visits are not required.

2) Decent to good customer support where they are solve your problems by just taking request over phone & less branch visits.

3) Prioritize what features are important for you and then you can choose.

4) Check if they provide flexibility to open account for family member so they can benefit your salary account.


You can go with IndusInd or Axis. Check which bank website that provides more details related to salary account so you can take informed decision.

Your company has 26 Bank accounts so it means it will cover top 1o PSU & top 10 Private banks easily. you can connect with POC of the banks that you shortlist and ask them what additional benefit they provide seamlessly.

This is really very useful. With all this I will take sometime to analyse and see the various options. For now will continue with ICICI salary account for now. Yes Interest rates, premium credit cards or debit cards, good digital banking and easy issue resolving - these are the things I will consider.

 

[kjs]

This is really very useful. With all this I will take sometime to analyse and see the various options. For now will continue with ICICI salary account for now. Yes Interest rates, premium credit cards or debit cards, good digital banking and easy issue resolving - these are the things I will consider.

Also you can consider the factor of nearest branch to you living area which really helps a lot in case of emergencies.

 

[cardio_guy]

I just moved to ICICI salary account last month. Experience has been good so far.

 

[kjs]

I just moved to ICICI salary account last month. Experience has been good so far.

Yes. It takes a while connecting to cc. And you have to explain them by sending proof that a feature exist to which they will denie. Credit card offerings are just ok. In case you dont wannt or have other bank high variant cards you can choose ICICI sal ACCount for simplicity of app use and online features

 

[balpreet.singh]

I have Axis salary account since 2013 , have not chnaged it since . Do not expect much from salary account of any bank..unless your relationship is large with them.( or you buy ULIP from them ).
Look for a bank account which can solve your problem online..( Rm can help sometimes ,but they will keep on changing anyways) .

PS : Magnus burgundy card LTF , ( OR ATLAS lifetime free with priority, not sure about it )can make a lot of sense

I agree on this. with just a salary account with a bank a customer is not of much use to them. They will want to sell you some products and if you take from them ( any insurance / investment etc.) then they would be happy with you.

 

[kjs]

I agree on this. with just a salary account with a bank a customer is not of much use to them. They will want to sell you some products and if you take from them ( any insurance / investment etc.) then they would be happy with you.

Yes many people in the community fail to understand this, all they want is benefits benefits but what benefits the bank is not going to offer you more than a tea,coffee or some cashbacks on spends with your salary account so keep your expectations low there. Yes you can consider getting good online service so branch visits are limited other than that don't over expect. Its simple if you give them business they will give you service or else just expect basic service.

 

[rj_arora]

Pathetic by Axis!

 

[yobro]

I have been using my ICICI account as salary account for close to 10 years now. Currently my account is in Titanium category. In the recent times, I see that I am not getting any benefits as such from the account and my RM response is also less. Inspite of having salary account here, I had to go for HDFC for plot loan due to better interest rates and less processing fee. Other than the free transactions and wonderful digital transactions through both App and Website I am not seeing any other benefit with the account. I am also holding Apay and Coral Rupay LTF credit cards with 10.2 lakhs limit. Considering the situation , I am looking at following 3 other options and looking at members suggestions .

1. SBI - I have savings account with platinum category and have PPF maintained there. I will get platinum corporate savings account. Why I consider SBI - platinum debit cards with benefits (Rupay Select), Autosweep with FD for more interest. Unfortunately their savings account interest and mobile banking is little bad. Interest rates for loans are less but not sure if we would get easily with salary account
2. AXIS account - I am currently using Liberty saving account and using it for cc payments to get 750rs vouchers and UPI. I will be eligible for Priority salary account. I haven't got better experience with Axis from beginning but still considering.
3. IDFC First Salary account. Saw there are good features at top level. Recently got IDFC First Select CC and not sure how the salary account will be beneficial. One bad thing is their reward points claiming charges.

I can also consider other banks at the moment as my company supports close to 26 banks for salary credit. Any suggestions will be appreciated

Which company u work for?