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

codenerd

TF Ace
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.
 
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.
When you have wealth management account and you dont have any paid variant of credit card then after 3-6 months there is automatic pre approved lifetime free rubyx sapphiro credit card offers came if you use their wealth management account for good…
 
Finally managed to connect to her. She said that she can get the account upgraded to wealth management without any issues, and if I have paid Sapphiro pre-approved in my account (which I do), then she can apply the LTF version on my behalf, but it will have to be approved by senior management.
 
I have seen some people say axis charges a lot. In fact, it is not true, I never had any consolidated charges ever. There is a reason why they are called HNI accounts. I have HNI accounts in 2 banks namely axis, hdfc and none of them charge me anything. I did not open any HNI accounts, mine were migrated to HNI as per their internal criteria automatically.

For Axis(Burgundy) & HDFC(imperia) it is 10L in a savings account or 30L in FDs or DEMAT holding is greater than 1 Cr.
For Axis(Priority) & HDFC(Preferred) it is 5L in Savings or 15L in FDs

HDFC(preferred) is better than Axis(Priority)

The money in the Savings account is 10L which average monthly balance, which means you cannot use that 10L or keep 3Cr in savings account for one day and 0 balance for the next 29 days.

If you do not maintain these, there are charges.

If you have money, then only open an HNI account. Just because some X person is opening a wealth account I have to open, it is not the case. Know your finances.

FDs have a lower return and are exposed to income tax of 30%, it is not a good investment. Everybody has an emergency fund as per their preference, you can keep that in FD.

Invest in Mutual Funds, higher returns, and one day you will have an HNI account.

P.S.: One of my friends has a Burgundy Private account, which does not that I have to chase it. Maybe one day but not now, let my money work now.
I am saying NOT anything bad to anyone, but open your eyes. You are the manager of your own finances. It may not sound good, but its the truth
 
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Finally managed to connect to her. She said that she can get the account upgraded to wealth management without any issues, and if I have paid Sapphiro pre-approved in my account (which I do), then she can apply the LTF version on my behalf, but it will have to be approved by senior management.
What's her condition for upgrading to Wealth Management?
 
Have you confirmed at branch because my branch doesn't knows anything about it? It comes with visa infinite debit card as I checked on their website.
One more thing is other account automatically gets converted to wealth if your one account is wealth?
 
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