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.

 

[pgarg24]

Yeah i too found indusind exclusive is the best in terms of benefits than any other on the list. Only problem I found unfortunately is indusind have not tied up with a lot of employeers right now. However, if you can get 5 of your collegues to open salary account they will create the org ID and can do it. So you can ideally push it manually if you have 5 collegues ready to open account.

 

[Recktreck]

I agree. I have IndusInd pioneer account and the service offered by them surpasses all banks I’ve held

 

[sriteja]

Yeah i too found indusind exclusive is the best in terms of benefits than any other on the list. Only problem I found unfortunately is indusind have not tied up with a lot of employeers right now. However, if you can get 5 of your collegues to open salary account they will create the org ID and can do it. So you can ideally push it manually if you have 5 collegues ready to open account.

Nice to know about this workaround, will add it to the table!

 

[Ram1]

Idfc is worst one in terms of salary account, no preapproved offers, no reward system on debit cards, no special treatment, not upgrading to select or wealth atleast

 

[avinash2711]

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

 

[Prime Carlsen]

This post is a great help! Adding to this comparison, does anyone have any experience with YES bank salary account benefits?

 

[rogerthat]

Recently shifted salary account to HDFC from SBI. Unhappy that there are no benefits or offers. No locker or premium CC or even discounted loans. I asked for DCB but was offered DC Privilege (LTF) instead. Recently asked for update to Regalia Gold and was refused for that too. Even no Tata Neu Rupay card LTF. They even charged me Rs.750 for the VISA Platinum debit card! Salary credit is 1.25L to 1.35L per month.

Shouldn't they be giving some benefit for a salary account with this much monthly credit? Pathetic. Very unhappy about the shift I probably should've gone with Axis.

 

[pgarg24]

Recently shifted salary account to HDFC from SBI. Unhappy that there are no benefits or offers. No locker or premium CC or even discounted loans. I asked for DCB but was offered DC Privilege (LTF) instead. Recently asked for update to Regalia Gold and was refused for that too. Even no Tata Neu Rupay card LTF. They even charged me Rs.750 for the VISA Platinum debit card! Salary credit is 1.25L to 1.35L per month.

Shouldn't they be giving some benefit for a salary account with this much monthly credit? Pathetic. Very unhappy about the shift I probably should've gone with Axis.

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.

 

[V360V360 is verified member.]

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.

I got DCB when my salary was not even 1.75L and the card limit was less than 5 lacs.

Depends on how you can convince your RM to initiate the request for you.

@rogerthat - if your salary account is more than 6 months old, then escalate to concerned Team and they will take care of the rest.

 

[Sreerag]

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 ---> 6.75%	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)	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.

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

 

[rogerthat]

I got DCB when my salary was not even 1.75L and the card limit was less than 5 lacs.

Depends on how you can convince your RM to initiate the request for you.

@rogerthat - if your salary account is more than 6 months old, then escalate to concerned Team and they will take care of the rest.

Thank you, yeah it is nearly a year old now. I will definitely take it up. Will also keep pestering the RM into upgrading to DCB.

 

[technom]

Thank you, yeah it is nearly a year old now. I will definitely take it up. Will also keep pestering the RM into upgrading to DCB.

I'm in the same boat as you, let me message you and hopefully we can find a solution

 

[coolanshu1000]

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

 

[rogerthat]

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.

 

[Dhruvkumar]

Nice to know about this workaround, will add it to the table!

If you shift your salary account or already shifted please share your experience here.

 

[sumit2goody]

For Super premium, with monthly salary 3L +, HSBC premier can be a good option as well...you get personal RM services, preferred rate on all bank products etc.

 

[MoneyMaven]

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?

 

[RkrRkr is verified member.]

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?

Better go with IDFC.

 

[Patil007]

Ask them to give or I will close salary account.

Recently shifted salary account to HDFC from SBI. Unhappy that there are no benefits or offers. No locker or premium CC or even discounted loans. I asked for DCB but was offered DC Privilege (LTF) instead. Recently asked for update to Regalia Gold and was refused for that too. Even no Tata Neu Rupay card LTF. They even charged me Rs.750 for the VISA Platinum debit card! Salary credit is 1.25L to 1.35L per month.

Shouldn't they be giving some benefit for a salary account with this much monthly credit? Pathetic. Very unhappy about the shift I probably should've gone with Axis.