Savings Account advise for 5L MAB

[Raja]

Hi TF fam,
I am committing to maintain MAB of 5L in metro city.
Please help with your knowledge and experience
Am looking for,
Must have: free LTF DC/CC with airport lounge access without spend criteria
Nice to have: Door step banking
Not interested: Locker

I have following banks around
1)Kotak
2)ICICI , ICICI Wealth branch
3)HDFC
4)IDFC
5)DBS

Axis and Indusind nearby dont have good reputation.

kindly advice.

 

[raghu.rokda]

One & only HDFC

 

[diptarkaroy]

I’m personally using IndusInd select account, and that’s great n better than the accounts of the banks you mentioned. And with 5L MAB, you would get IndusInd exclusive or Grande, which is far more superior with 1+1 lounge access and all the other benefits

 

[diptarkaroy]

One & only HDFC

Does HDFC imperia have lounge access? His priority is lounge access

 

[quino]

Axis and Indusind nearby dont have good reputation.

you are right. though the bank provides perks like lounge access, support from branch is branch & person dependent.

i suggest going with equitas small finance bank. you'll get their Elite acc with 3 lounge visits per qtr with the ltf dc (among other benefits like full body health checkup, 4 types of complimentary insurances, 50% locker rent, a silver coin).

coming to the door step banking, your branch RM will come to your home as many times as you want, even be your personal Uber to drive you around the city, if you are committed to the 5L balance.

i understand their branch might not be as close to your home, but i reckon it'll be worth it as you won't have to visit the branch ever.

nevertheless, as a one-time activity i suggest visiting their branches & selecting the person you vibe with as your RM.

 

[Vasuki]

Hi TF fam,
I am committing to maintain MAB of 5L in metro city.
Please help with your knowledge and experience
Am looking for,
Must have: free LTF DC/CC with airport lounge access without spend criteria
Nice to have: Door step banking
Not interested: Locker

I have following banks around
1)Kotak
2)ICICI , ICICI Wealth branch
3)HDFC
4)IDFC
5)DBS

Axis and Indusind nearby dont have good reputation.

kindly advice.

Get hdfc classic at 1 lakh maintenance
And open idfc wealth with 5 lakh initial funding
You can keep 4 lakh in fd .
If idfc is new branch they will agree to locker

Both bank dc are free
For locker in idfc - talk to BM directly while opening account .

While in hdfc you will get free dc & good family banking.

Talk to hdfc too for imperia banking & locker to HDfc .
If they agree to locker ( BM ) on email / letter . That they will provide you .
You can blindly trust hdfc for no nonsense banking

But don't expect any good experience other than butter talk from rm .


It's all depends which BM is able to give you Locker ..

Kotak - they are banned
DBS - not heard much (if It was little good PPL must have talked about it )
Icici - 5 lakh is peanuts for them and they want you to deposit crores for any pathetic service) icici WM has been devalued.



Cheers 🥂

 

[sm9811911]

Axis and Indusind nearby dont have good reputation.

They never do.

Idfc has better service than hdfc/Kotak. Icici comes in second for service. Doorstep banking was provided by idfc and Kotak. They all do in some shape or form if you have good rel with rm but doubt they commit.
Credit card lounge access has seen many changes in tnc recently and they will continue. Likely you will not see lounge access without spend criteria on a non-luxury cc in the long term. So, suggest to keep that requirement separate.

 

[Vasuki]

They never do.

Idfc has better service than hdfc/Kotak. Icici comes in second for service. Doorstep banking was provided by idfc and Kotak. They all do in some shape or form if you have good rel with rm but doubt they commit.
Credit card lounge access has seen many changes in tnc recently and they will continue. Likely you will not see lounge access without spend criteria on a non-luxury cc in the long term. So, suggest to keep that requirement separate.

No mate won't agree to idfc superiority.
It has serious flaws in their bank algorithm.
Other than easy locker bcz of less customer base & free dc there is nothing good now ..

Lots of fraud
Untrained staff / clueless
They just know how to open 25k& 10k account
Bank has serious freezing issue if u use it as primary UPI bank

It is a ok bank if u keep it for fd & do 1-5 transaction in month ..

 

[sidp]

Must have: free LTF DC/CC with airport lounge access without spend criteria
Nice to have: Door step banking
Not interested: Locker

I have following banks around
1)Kotak
2)ICICI , ICICI Wealth branch
3)HDFC
4)IDFC
5)DBS

kotak banned from digital. So you need to visit branch. As digital is banned & if you really maintain 5L you might get good treatment. One issue is no of kotak branches is very less compared to customer base, now their employees must be busy with converting 811 account to traditional account. I wouldn't recommended it in tier 2/3 city but in metro it should be alright.

Idfc will get you select. Decent feature. Easy to get locker. But very bad as primary account. They block a lot of accounts for high upi usage/no of transactions.

If you have icici wealth branch/lounge near you, & they are OK with 5L nrv, then it's a very good option. Wealth branch people are most informed & professionals.

DBS /HSBC will give you good service.

Lastly in hdfc smaller branch is better. Even though hdfc doesn't mention door to door service, small branch people are very helpful in that regard(depends on bm), but I don't think metro branch will give you door to door service. 5L is peanuts for them and they have a lot of customers.

5L in savings or fd?
If savings, you can get speciale gold/platinum account in hdfc, which gives joining coupon in amazon/fk, quarterly coupon of uber/swiggy, epicure preffered membership etc.

 

[sm9811911]

No mate won't agree to idfc superiority.
It has serious flaws in their bank algorithm.
Other than easy locker bcz of less customer base & free dc there is nothing good now ..

Lots of fraud
Untrained staff / clueless
They just know how to open 25k& 10k account
Bank has serious freezing issue if u use it as primary UPI bank

It is a ok bank if u keep it for fd & do 1-5 transaction in month ..

Good to know

Never faced any such issues though. Have 4 accounts in family

 

[Vishal N]

Hi TF fam,
I am committing to maintain MAB of 5L in metro city.
Please help with your knowledge and experience
Am looking for,
Must have: free LTF DC/CC with airport lounge access without spend criteria
Nice to have: Door step banking
Not interested: Locker

I have following banks around
1)Kotak
2)ICICI , ICICI Wealth branch
3)HDFC
4)IDFC
5)DBS

Axis and Indusind nearby dont have good reputation.

kindly advice.

Go for AU small finance Bank. With 1 lack monthly balance, you get a good visa signature debit card. It has 2 buy 1 get 1 offers on bookmyshow every month. Plus lounge access twice a quarter. They have some good travel deals on their offers site too

You can club 3-4 family member's accounts with your monthly balance. So they will also get their own debit card with same offers and lounge access.

Money is insured upto 5 lakhs by RBI, if you're worried about safety.

 

[Transpointer]

Go for AU small finance Bank. With 1 lack monthly balance, you get a good visa infinite debit card. It has 2 buy 1 get 1 offers on bookmyshow every month. Plus lounge access twice a quarter. They have some good travel deals on their offers site too

You can club 3-4 family member's accounts with your monthly balance. So they will also get their own debit card with same offers and lounge access.

Money is insured upto 5 lakhs by RBI, if you're worried about safety.

Which account are you talking about? All of their accounts from 1-5 lakhs are showing Visa Signature or Platinum DC

 

[Vishal N]

Which account are you talking about? All of their accounts from 1-5 lakhs are showing Visa Signature or Platinum DC

Sorry my bad. It is visa signature. Got confused between variants.

I'm talking about AU Royale. It has visa signature. Have updated my reply