Wealth/HNI account of which bank is the best with zero MAB

[codenerd]

I am planning to get a wealth/ equivalent HNI account in either of the banks:-
Axis Burgundy
Indusind Pioneer
ICICI Wealth
IDFC Wealth (Upgrade in progress from Select but too much unnecessary drama)

I am fine with initial funding of 5-10 lakhs but only if I can withdraw most of it in sometime and just keep 1-2 lakhs max or maybe even zero balance.

Please suggest me great alternatives or the best one which even gives premium debit/credit card also and not just some stupid VISA platinum variant.

 

[Chaitanya-a]

I am planning to get a wealth/ equivalent HNI account in either of the banks:-
Axis Burgundy
Indusind Pioneer
ICICI Wealth
IDFC Wealth (Upgrade in progress from Select but too much unnecessary drama)

I am fine with initial funding of 5-10 lakhs but only if I can withdraw most of it in sometime and just keep 1-2 lakhs max or maybe even zero balance.

Please suggest me great alternatives or the best one which even gives premium debit/credit card also and not just some stupid VISA platinum variant.

IDFC Wealth & ICICI Wealth are the best as of now out of these. Axis & IndusInd aren't suggested as they levy heavy charges for several things.

Other than these, if you're trying to experiment new bank (foreign but RBI approved), then try SBM. They provide Visa Signature Debit card with several benefits like 3 lounge visits/quarter and golf benefits. Initial deposit would be 5 Lacs.
But their branch people are annoying.

 

[ADITYA1904]

I suggest icici wealth management account for HNI with inial big amount cheque and then mab, they also give mastercard world debit card…and if you do not have any paid icici credit card then they also give you ltf sapphiro though their credit cards not worth but ltf with descent limit is anyway good, right?

 

[Chaitanya-a]

I suggest icici wealth management account for HNI with inial big amount cheque and then mab, they also give mastercard world debit card…and if you do not have any paid icici credit card then they also give you ltf sapphiro though their credit cards not worth but ltf with descent limit is anyway good, right?

How much Initial deposit required?

 

[ADITYA1904]

How much MAB required?

After initial funding cheque say 11L or 20L or 25L or more after then withdraw amount and regularly do your regular transactions in this account just for keepi going but even if balance is 0 for months still no charge so its kind zero balance account…

 

[xiddy]

Don't you need 25L DIV for wealth management?

 

[Chaitanya-a]

Don't you need 25L DIV for wealth management?

25L for Wealth Select. For basic wealth account we can open with as low as 5L

 

[xiddy]

I'll call my RM and ask her for an upgrade then. Thanks!

 

[TheTrickySid]

I'll call my RM and ask her for an upgrade then. Thanks!

Upgrade requires 25L NRV

Instead open New account with 5/10L initial funding

 

[TheTrickySid]

25L for Wealth Select. For basic wealth account we can open with as low as 5L

Post in thread 'HNI Bank Accounts - Options' https://www.technofino.in/community/threads/hni-bank-accounts-options.5038/post-87321

 

[xiddy]

Upgrade requires 25L NRV

Instead open New account with 5/10L initial funding

That sucks. I wanted to convert my Titanium account to wealth so the MQB goes away.

 

[xiddy]

I suggest icici wealth management account for HNI with inial big amount cheque and then mab, they also give mastercard world debit card…and if you do not have any paid icici credit card then they also give you ltf sapphiro though their credit cards not worth but ltf with descent limit is anyway good, right?

Does the account by default come with LTF Sapphiro? Or do we have to apply for it after a while? I have only been offered the paid variant so far.

 

[Chaitanya-a]

That sucks. I wanted to convert my Titanium account to wealth so the MQB goes away.

You can open new account under same customer ID

 

[Chaitanya-a]

Does the account by default come with LTF Sapphiro? Or do we have to apply for it after a while? I have only been offered the paid variant so far.

It does comes with LTF Sapphiro but not available to all. You have to meet their income criteria

 

[TheTrickySid]

It does comes with LTF Sapphiro but not available to all. You have to meet their income criteria

No it doesn't come with LTF sapphiro

 

[xiddy]

It does comes with LTF Sapphiro but not available to all. You have to meet their income criteria

Do you know what the criteria is?

 

[Chaitanya-a]

No it doesn't come with LTF sapphiro

Many people have got that LTF Sapphiro after pushing their RM ad I've seen in the thread.

 

[Chaitanya-a]

Do you know what the criteria is?

From what I've seen it is 1L pm for new account and 2L pm for existing account

 

[xiddy]

You can open new account under same customer ID

Yeah, but then the old account stays. And I can't close it since it is my salary account and I don't want to go through the hassle of switching it.

 

[xiddy]

From what I've seen it is 1L pm for new account and 2L pm for existing account

What? Shouldn't they have lower requirements for existing customers? That's absurd.