Suggestions on where to shift entire finances to

[arcticvolcano]

I am self employed - Freelance work. My annual revenue coming into my account is around 10 to 13 LPA.

Currently my main account is with FED BANK. I have been using this for 4yrs now because I knew the BM and asst BM very well, but they have both shifted now.
I usually maintain 3 to 5L in SB and have around 10L worth of Total FDs. My MF portfolio is around 18L also through Fed Bank. They provide me with a wealth manager as long as I have any account with Fed Bank.

I am however looking to move because there are no major advantages to Fed Bank in terms of better FD rates or better discounts on processing fees etc.

I can move almost all the funds above to one or more banks.

Any suggestions on how I can split this?

• I already have IndusInd LEGEND so I think I can open the Select account and then make it 0 MAB and use it for a few FDs? I can also try to upgrade to Pinnacle
• I thought about HDFC (I have millenia CC) and IDFC (I have Select CC) especially because they are good for paying credit card bills I believe? One of my friends works for IDFC near my house so I can ask for something specific if you guys suggest
• Maybe RBL, ICICI, or something else too?

I would ideally not want to move my Mutual Funds, but I am okay moving the 10L FD and also maintain 4 to 5L savings account if it helps.

I am just looking at some benefits in terms of preferential rates or discounted lockers or good debit cards (with rewards on CC bill payments. My spends are around 5to7LPA)

 

[R!ppEr]

Existing ICICI CC Limit more than 4Lks

I have a 5l+ like as well.. But no upgrade options yet in the imobile app

 

[nits123]

Only Banks in Nifty 50 i.e. HDFC, ICICI, Indusind and Kotak....SBI is in Nifty 50 but can't tolerate them anymore (Closed SBI account)

 

[newinnov]

Only Banks in Nifty 50 i.e. HDFC, ICICI, Indusind and Kotak....SBI is in Nifty 50 but can't tolerate them anymore (Closed SBI account)

SBI is pretty fine if you compare it to indusind

 

[nits123]

SBI is pretty fine if you compare it to indusind

It is based on personal experience...For SBI you need to visit branch for each and every task whereas in case of private banks, 100% tasks are online...Visiting SBI is half day waste & they work in Slow motion @ 25% speed.....SBI's Half the staff is on leave everyday & rest half is out for lunch....I personally prefer convenience.

 

[_amit_]

Have been following up on this. I have 5L on my ICICI PLat card. There seem to be others in the forum who have not gotten the email.
I guess its not a mandatory process and has a luck factor involved

Probably would have meant this and not the Wealth.

Family 360 Banking - ICICI Bank

Complete banking solutions for your personal, business and family needs

www.icicibank.com

 

[Anindya98]

Have been following up on this. I have 5L on my ICICI PLat card. There seem to be others in the forum who have not gotten the email.
I guess its not a mandatory process and has a luck factor involved

You will not receive any email visit the branch it is purely an offline process

 

[varun__goel_]

It is based on personal experience...For SBI you need to visit branch for each and every task whereas in case of private banks, 100% tasks are online...Visiting SBI is half day waste & they work in Slow motion @ 25% speed.....SBI's Half the staff is on leave everyday & rest half is out for lunch....I personally prefer convenience.

Who says we need to visit branch for each and every task?🤣

SBI has pretty solid NB/MB. Better than a lot of private banks. Just their UPI is🤡

 

[Anindya98]

I have a 5l+ like as well.. But no upgrade options yet in the imobile app

You have to visit the branch or ask someone from your nearest branch to visit you regarding the account opening.

 

[Anindya98]

Probably would have meant this and not the Wealth.

Family 360 Banking - ICICI Bank

Complete banking solutions for your personal, business and family needs

www.icicibank.com

Yes referring to this condition

 

[Anindya98]

Who says we need to visit branch for each and every task?🤣

SBI has pretty solid NB/MB. Better than a lot of private banks. Just their UPI is🤡

Y e s totally agree most of the work can be done using the Sbi Yono app.
but sometimes have to visit for few certain works it takes a lot of time for a simple thing, which can be solved by any private bank very easily,

 

[nits123]

Pls get your address change online on SBI yono app..Which is very basic task

 

[newinnov]

It is based on personal experience...For SBI you need to visit branch for each and every task whereas in case of private banks, 100% tasks are online...Visiting SBI is half day waste & they work in Slow motion @ 25% speed.....SBI's Half the staff is on leave everyday & rest half is out for lunch....I personally prefer convenience.

Don't forget you are comparing indusind with SBI bank, not icici / axis / hdfc
Indusind also you have to visit branch for trivial things

 

[Anindya98]

Don't forget you are comparing indusind with SBI bank, not icici / axis / hdfc
Indusind also you have to visit branch for trivial things

Yes, Indusind is Legendary Bank after opening select account online I have to visit the branch and submit my kyc with signature for cheque book. Then what's the purpose of opening the account online 🤔

 

[newinnov]

Yes, Indusind is Legendary Bank after opening select account online I have to visit the branch and submit my kyc with signature for cheque book. Then what's the purpose of opening the account online 🤔

Same thing happened with me, I had to submit kyc 3 times by visiting bank every time I availed new product. By submitting my documents and sign etc etc 😒

 

[Dragon_slayer]

I would say Open IDFC wealth account first, maintain balance for 2 months then move it to Axis Burgundy account. Axis Burgundy also allow to add upto 4 members in family banking, so you can maintain 2.5L in each account to complete requirements

 

[Anindya98]

Same thing happened with me, I had to submit kyc 3 times by visiting bank every time I availed new product. By submitting my documents and sign etc etc 😒

Still now I have not submitted my documents visiting the branch tried to arrange someone who can pick up the documents no response from Indusind side. Not visiting the branch until someone calls me from the branch regarding documents.

 

[Fini7777]

Who says we need to visit branch for each and every task?🤣

SBI has pretty solid NB/MB. Better than a lot of private banks. Just their UPI is🤡

Yes, SBI's INB and Mobile Banking are far better compared to Indusind's
Indus is still in 90's UI and there r very limited options in their INB
But the remaining pvt banks are Very good in terms of service and UI of INB and MB