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.

 

[codenerd]

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.

For BOGO, I usually use ICICI Sapphiro MC and Visa , IDFC First Select Credit Card, IDFC Wealth Debit Card, AU Xcite Ace and Axis MyZone since Indusind Legend never works for me.

 

[gamersgzb]

For BOGO, I usually use ICICI Sapphiro MC and Visa , IDFC First Select Credit Card, IDFC Wealth Debit Card, AU Xcite Ace and Axis MyZone since Indusind Legend never works for me.

Axis Ace? Does it has bogo as well?

 

[bhaveshS]

Axis Ace? Does it has bogo as well?

No

 

[CreditFreak]

ICICI offers 💩 value on salary account. I am using ICICI salary account for last 5 years. At the beginning of my career when I joined my 2nd company, Icici bank representative help me open this account and I got 1 debit card which doesn't earn any reward, 1 credit card of lowest variant with annual charges(HPCL), 1 DAMAT account which charged ~1k per year. (My inhand salary credit was 50K then).😢
I am still using this salary account. Even though my salary increased to 1.5L+ , there is no extra benefit from ICICI . I had to take Home and Car loan from other banks. There is no credit card LTF offer. Everyday I get call from ICICI for debit card upgrade with charges or home loan balance transfer at higher interest rate. 😢

I think this is the time to move on. Guys please suggest me a good saving bank account.

 

[hemant89]

ICICI offers 💩 value on salary account. I am using ICICI salary account for last 5 years. At the beginning of my career when I joined my 2nd company, Icici bank representative help me open this account and I got 1 debit card which doesn't earn any reward, 1 credit card of lowest variant with annual charges(HPCL), 1 DAMAT account which charged ~1k per year. (My inhand salary credit was 50K then).😢
I am still using this salary account. Even though my salary increased to 1.5L+ , there is no extra benefit from ICICI . I had to take Home and Car loan from other banks. There is no credit card LTF offer. Everyday I get call from ICICI for debit card upgrade with charges or home loan balance transfer at higher interest rate. 😢

I think this is the time to move on. Guys please suggest me a good saving bank account.

True, I have had an ICICI salary account for 12 years and they don't provide any benefits to loyal customers. I am still sticking due to their feature-rich app and ease of service but I will also move out soon.

 

[balpreet.singh]

True, I have had an ICICI salary account for 12 years and they don't provide any benefits to loyal customers. I am still sticking due to their feature-rich app and ease of service but I will also move out soon.

Each bank is the same. Loyal customers dont get much

 

[ayushnayyar]

My company doesn’t have a tie up with any bank for salary account, I tried axis and icici since no tie up required was reported. But they weren’t able to open the salary account without the tie up.

 

[wr8_utd]

Hey Guys, this thread has been very usually to go through. However, I do still have some questions and hopefully some suggestions?

My currently salary account is with Citibank and while I do enjoy their service, I know they will be migrating all accounts to Axis at some point. I also have a savings account with HDFC for over 13 years now. While this accounts is an "Imperia" account because my mother's account has multiple FDs etc with the bank and they made mine one as well by association, I guess.
With regards to credit cards, I already have DCB, Tata Neu Infinity and Swiggy. With respect to other banks, I have several other credit cards, including the Zenith + for AU.
My salary range is between 1.2 to 1.4L a month.

Given all these details, is there anything that you guys would particularly recommend? I know the Axis Ultima Priority falls in my salary range but I don't know which Axis Credit Cards they offer (I already have the My Zone and Flipkart card) and a lot of people seem to have downgraded their Priority accounts on here? Any recommendations would be hugely appreciated. Thanks in advance!

 

[kjs]

With 1.3L salary, you can ask them to open classic account variant which would make your DC free at least. unfortunately, for DCB, they have criteria of salary credit of greater than 1.75L per month so internal policies I guess..

I got my Tata Neu infinity as LTF when I selected my company as TCS (TCS is not my original company).. they didn't ask for any document, just applied and got infinity card LTF, so you can try that if you want.

How did you apply for Tata Neu Infinity

 

[kjs]

Thank you for mentioning. According to my interaction with banks and feedback from relatives, banks like IndusInd, DBS and sort-of banks with less branches give priority support to all customers. It doesn't matter if he's a salary or savings A/c holder, but the interaction with higher level manager depends varying on account type.

ICICI treats Privilege customer like normal, only chance is by getting Wealth Ac

They treat like u owe them something. Like 0 balance account.

 

[pgarg24]

How did you apply for Tata Neu Infinity

I applied through their tataneu app back when it was launched..

 

[kjs]

I agree with Kotak is the worst part. Recently shifted from Kotak to HDFC salary account.

I am planning to do the reverse . Not satisfied with HDFC for petty things they are asking to visit branch . Customer care take 5-10 mins to connect & they are not so competent t solve basic problems also. I am using Kotak 811 & I am completely satisfied with Customer care service which gets connected in less than 1 min , App is also better when compared to HDFC. Branch service is also good visited 4 different branch in 2 different cities.

 

[GalacticTreasurer]

Axis Priority account does require an employee tie up, I tried it online and at branch as well. The portal does not show an option to open without employer tie-up. Please update the post.

 

[sriteja]

My friends got it without employee tie-up and I also confirmed with customer care

Axis Priority account does require an employee tie up, I tried it online and at branch as well. The portal does not show an option to open without employer tie-up. Please update the post.

 

[GalacticTreasurer]

My friends got it without employee tie-up and I also confirmed with customer care

Can you tell me which is the value you had to choose in the Company field when signing up?
I was in the bank a few months ago and they informed me that employer tie up is necessary.

 

[kishorvr]

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.

All banks would do the same I guess. But, if you visit bank branches in posh areas in your city, where the wealthy live, you may get help. They may not treat you like royalty, but they are knowledgeable. They may solve your problems.

 

[kishorvr]

Here is the offer list for Canara bank's salary account for 1lac+ salary.

Can anyone without corporate tie up open a salary account with Canara?

 

[coolanshu1000]

Yes.. only salary slips required

 

[vag_petro]

For 3L + salary is Axis Burgundy the best option or is there any other recommendations ?

 

[Optimiser007]

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.

Hi, does it work on

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.

Hi, does cc bill rewards still applicable, u use SBI billpay ?