Some Premium Salary accounts Comparision

[sriteja]

I had explored Salary accounts with different banks for Salary 1L+ / Month. Sharing it here for everyone. Source of this info was mainly websites, some customer care calls and threads on Technofino. Please let me know if I get it wrong anywhere

Account	Interest Rate	Debit Card	Credit card offered	Eligibility	Status	Comments	Link
IDFC Corporate	<= 10L --> 4% > 10L ---> 7%	Free Platinum Debit Card - but no major benefits		Employer should be in the list	Can get a Select or Wealth Program		https://www.idfcfirstbank.com/personal-banking/accounts/corporate-salary-account
HDFC Premium	3%	Free Platinum Debit Card with 750 Rs cashback on credit card bill payment	Provides LTF cards	1. >= 50k salary 2. Employer tied up with HDFC	Can get a RM with Preferred Status - https://www.hdfcbank.com/personal/save/high-networth-banking/premier-banking/preferred		https://www.hdfcbank.com/personal/save/accounts/salary-accounts/premium-with-platinum-debit-card
ICICI Titanium Privelege	3%	Free Titanium Debit Card. Not much benefits	Provides LTF Cards	1. 1L + Salary credit. Not mentioned in website though 2. Employer tie up not needed for salary account but employer needs to be in their lsit for ltf credit cards	Can get privelege status which is below wealth	Service is good according to several reviews compared to other banks	https://www.icicibank.com/personal-banking/accounts/salary-account/titanium-salary-account
Kotak Platina	3.5%	No free debit card	Provides LTF Cards	1L+ Salary		Charges on SMS and no free debit card.	https://www.kotak.com/en/personal-b...-account/Platina-Salary-Account/features.html
Kotak Creme	3.5%	Not mentioned but mostly free	Provides White / White Reserve / Zen Credit cards for LTF	Through Corporate eligibility. Maybe employer needs to do some signing up with kotak	Status of Privy League
Axis Priority	3%	Free Priority Debit Card - no monetary benefits Just a 25% BMS offer and lounge access		1. 1L+ Salary 2. Employer not needed	Priority Status	No other charges but has NACH charges of 25 + GST per transacation. Mainly on EMI. Not applicable on MF, bill payments	https://www.axisbank.com/retail/accounts/salary-account/priority-salary-account/eligibility-and-documentation
Indus Comfort Exclusive	<= 1L = 4% > 1L <= 10L = 5% >10L = 6%	Signature Debit card - very good benefits	Indulge/ Pinnacle Credit Card	1. Salary >= 125k 2. Needs Tie up with Employer ( You may open without employer tie up by following this or open a savings account, keep it for 3 months and ask RM to convert it to salary account)	Dedicated Trained RM and home banking		https://www.indusind.com/in/en/personal/accounts/corporate-salary-account/comfort-exclusive.html

An valuable comment by @Sreerag reg. different salary accounts - https://www.technofino.in/community/threads/salary-account-recommendation.2676/post-47069

My take on this is that, w.r.t benefits from above salary accounts ---> IndusInd > IDFC > HDFC > Axis > ICICI. (Don't even consider Kotak).

Disclaimer on above order
1. I haven't compared services, as it is subjective and may vary from branch to branch and primarily I didn't experience it.
2. Have ranked IndusInd on top because of interest rate it offers + the debit card benefits.
3. Have added IDFC as second in the list only because of the interest rate it offers. I didn't find it's debit cards rewarding.

 

[coolanshu1000]

Ask them to give or I will close salary account.

Have a look at canara

 

[pranavcool]

Is indusind good?

 

[Patil007]

Have a look at canara

No 😂.

For Salary, I Will prefer private bank only, not even SBI.

 

[codenerd]

ANything for salary between 80-95K?

 

[balpreet.singh]

My terrible journey with HDFC Bank as salary bank continues.

So I was unhappy as my salary account gives no benefits apart from a (now completely) useless Diners Club Privilege card. The RM who was supposedly assigned to me never picks the call so I complained to CC and they gave me the contact of another guy who does not pick the phone either.

So I complained to CC again who sent me the form for a Classic account that I have to fill in and submit to, yes, the RM 🙃. I am going to go to the branch and shout at them maybe someone will do something. Where should I complain if the RM does not answer calls?

I raised a fresh request for DCB upgrade through the alumni program but my useless institute is not listed apparently. Will try for Regalia Gold again.

I mean, I should not be running around in circles like this to get service from banks who I am a customer with. And it is a salary account for Gods sake not some Jan Dhan account.

My salary was geting credited to HDFC for 11 years or so. This year in Jan I stumbled that they never tagged my account as a Salary Account. This and other things along with me was such that I started to move out my Salary account. While I escalated to their Cluster Head, I finally decided to move out of HDFC for my salary account. Banks start taking you for granted after sometime as I realized.

 

[ALOAK]

It is the same with all banks they promise one thing and do the opposite and they also know other banks does the same all the sales and RM have network with other bank. Morning they fight for accounts and targets evening they get togeather and enjoy just like our politicians. My axis salary accountb prime RM never picks and when I email it get bounced. So I gave up too .when I called care is there any upgrade they said I can upgrade to burgundy when I asked can you upgrade they say have to go to branch. Also asked if upgrade will I get magnus ltf he said their is no provision of ltf for magnus and am not eligible. I have no choice as I had lot of experience with salary account with hdfc axis and other banks both are same characters for some without question they will do or give superpremium card and others they say no point blank. Citi was best they clearly tell what one gets and no charges on salary accounts now that axis has taken over am worries at the scale of service that would diminish. Am unlucky with super premium cards.

 

[Slayer]

Better go with IDFC.

Can someone elaborate how IndusInd is good?

 

[4uziaul]

Can someone elaborate how IndusInd is good?

If you have patience, then only consider opening an account with IndusInd. 🤣

 

[V3NOM]

Can someone elaborate how IndusInd is good?

Well a little late here but, my experience with IndusInd has been between good to excellent in past 2 years. I have 'Select' account which I opened by giving 50k initial deposit and maintaining it as interest offered is better than other banks. Their app and Internet banking is simple with good UI and I never faced any problems especially related to points redemption as some people in the community have mentioned. Their 'select' and 'exclusive' accounts provide good value for money. Again reviews may differ branch to branch overall found good reviews about IndusInd.
Note - 1)From yesterday savings account interest rates have been reduced below 1 lakh balance they now give 3.5% as opposed to 4%. Rest everything is same.
2) With 'Select' and 'Exclusive' debit cards you can earn upto 0.93% reward for paying credit card bills thru PayTM/Mobikwik(Last month itself I got points worth approx 800 rupees for paying 96k credit card bill)
3) BookMyShow BOGO offers are only available in first 6-7 days of every month after which quotas get exhausted and refresh only on 1st of next month.

 

[4uziaul]

Well a little late here but, my experience with IndusInd has been between good to excellent in past 2 years. I have 'Select' account which I opened by giving 50k initial deposit and maintaining it as interest offered is better than other banks. Their app and Internet banking is simple with good UI and I never faced any problems especially related to points redemption as some people in the community have mentioned. Their 'select' and 'exclusive' accounts provide good value for money. Again reviews may differ branch to branch overall found good reviews about IndusInd.
Note - 1)From yesterday savings account interest rates have been reduced below 1 lakh balance they now give 3.5% as opposed to 4%. Rest everything is same.
2) With 'Select' and 'Exclusive' debit cards you can earn upto 0.93% reward for paying credit card bills thru PayTM/Mobikwik(Last month itself I got points worth approx 800 rupees for paying 96k credit card bill)
3) BookMyShow BOGO offers are only available in first 6-7 days of every month after which quotas get exhausted and refresh only on 1st of next month.

Thank you for the recap. 😂

 

[V3NOM]

Since banks like IndusInd have fewer branches compared to other banks, are their online banking facilities on par so that I don't need to visit a branch every time?

Depends on which facilities you are referring to. I have visited the bank just 4-5 times in last 2 years and all my requests were done with in 1 visit only.

 

[MoneyMaven]

Depends on which facilities you are referring to. I have visited the bank just 4-5 times in last 2 years and all my requests were done with in 1 visit only.

I want to avoid visiting the branch, which is why I prefer all facilities to be online. It could be as simple as an address update to account upgrades

 

[codenerd]

Well a little late here but, my experience with IndusInd has been between good to excellent in past 2 years. I have 'Select' account which I opened by giving 50k initial deposit and maintaining it as interest offered is better than other banks. Their app and Internet banking is simple with good UI and I never faced any problems especially related to points redemption as some people in the community have mentioned. Their 'select' and 'exclusive' accounts provide good value for money. Again reviews may differ branch to branch overall found good reviews about IndusInd.
Note - 1)From yesterday savings account interest rates have been reduced below 1 lakh balance they now give 3.5% as opposed to 4%. Rest everything is same.
2) With 'Select' and 'Exclusive' debit cards you can earn upto 0.93% reward for paying credit card bills thru PayTM/Mobikwik(Last month itself I got points worth approx 800 rupees for paying 96k credit card bill)
3) BookMyShow BOGO offers are only available in first 6-7 days of every month after which quotas get exhausted and refresh only on 1st of next month.

Which card do you use on BMS from Indusind? I have never been able to get BMS offer using either my indusind Debit or legend credit card.

 

[Trust Me]

I have 'Select' account ... Their app and Internet banking is simple with good UI and I never faced any problems ...

If you have patience, then only consider opening an account with IndusInd. 🤣

Hehe, you probably weren't talking about their netbanking experience, which tries my patience the most!

For some reason, often a mouse click would put the screen in a hanging mode for nearly a minute (maybe more) before recovering! If it's something not urgent, I'd just quit, and give a rating of 1 or 2 on logout. That never makes any difference though, and it would behave the same way the next time too! It's been happening for almost two years now! Indusind netbanking is quite unique in this regard.

I've not tried their mobile banking.

 

[ssrahul96]

can we get regalia / DCB as LTF with HDFC salary accounts?

 

[sriteja]

can we get regalia / DCB as LTF with HDFC salary accounts?

You can get Regelia, but not sure about DCB though

 

[palen]

can we get regalia / DCB as LTF with HDFC salary accounts?

You can get DCB if your current HDFC cc have done above 5-7L transaction in the past 6 months.

 

[V3NOM]

Which card do you use on BMS from Indusind? I have never been able to get BMS offer using either my indusind Debit or legend credit card.

Indus Select Visa Signature. The offer is valid for limited quotas. From my experience the offer can be availed only between 1st to 5th of every month after which the quota gets exhausted and refreshes 1st of next month. Sometimes the quota is available till 7th as well but for sure you may get to redeem the offer in 1st to 5th. I know it is very annoying but can't help it either. AU, Axis Magnus, Burgundy debit and some other cards have no quota.

 

[V3NOM]

Hehe, you probably weren't talking about their netbanking experience, which tries my patience the most!

For some reason, often a mouse click would put the screen in a hanging mode for nearly a minute (maybe more) before recovering! If it's something not urgent, I'd just quit, and give a rating of 1 or 2 on logout. That never makes any difference though, and it would behave the same way the next time too! It's been happening for almost two years now! Indusind netbanking is quite unique in this regard.

I've not tried their mobile banking.

TBH I don't frequently use its netbanking but whenever I used. it worked fine. Sometimes it surely does give problems. I would say its fine, nothing great not too bad either

 

[V3NOM]

A

I want to avoid visiting the branch, which is why I prefer all facilities to be online. It could be as simple as an address update to account upgrades

Personal Info update can easily be done online almost in all private banks. IndusInd does have an option for account upgrade but never used it.