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Suggestions on where to shift entire finances to

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arcticvolcano

TF Select
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)
 
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newinnov said:
SBI is pretty fine if you compare it to indusind 😀
Click to expand...
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.
 
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nits123 said:
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.
Click to expand...
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🤡
 
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varun__goel_ said:
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🤡
Click to expand...
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,
 
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nits123 said:
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.
Click to expand...
Don't forget you are comparing indusind with SBI bank, not icici / axis / hdfc
Indusind also you have to visit branch for trivial things
 
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newinnov said:
Don't forget you are comparing indusind with SBI bank, not icici / axis / hdfc
Indusind also you have to visit branch for trivial things
Click to expand...
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 🤔
 
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Anindya98 said:
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 🤔
Click to expand...
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 😒
 
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newinnov said:
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 😒
Click to expand...
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.
 
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varun__goel_ said:
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🤡
Click to expand...
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
 
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