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.

 

[husainbhab]

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.

Hi,
How did you managed to get upgrade from Select to wealth?

 

[Chaitanya-a]

Hi,
How did you managed to get upgrade from Select to wealth?

They just need 10L deposit. Your RM can trigger the upgrade for you and send the mail to zone officer. It'll be done within a month (max).

 

[Bodhi]

She just asked how much my average account balance was and said that it will be done. I just need to sign a form.

@xiddy How much average balance did you maintain and for how long, please?

Were you able to get a Sapphiro LTF?

 

[xiddy]

@xiddy How much average balance did you maintain and for how long, please?

Were you able to get a Sapphiro LTF?

Around 12L for the last one year. And no, she needs to get approval for Sapphiro LTF, she will put in the request on Monday.

 

[ADITYA1904]

Around 12L for the last one year. And no, she needs to get approval for Sapphiro LTF, she will put in the request on Monday.

You have any paid icici credit card?

 

[xiddy]

You have any paid icici credit card?

Nope. I have Platinum and Amazon Pay, both at 5L limit. I can see paid Sapphiro when I try to upgrade them.

 

[pratyushpanda]

Bhai agar account kholke 0 ya maintain nai karna hai to pehle axis ko hatao 🤣 and aj kal most of the banks shana ban gye hai.. 2 3 quarter k bad high chances of downgrade.. baki tumhare marji..

 

[codenerd]

Bhai agar account kholke 0 ya maintain nai karna hai to pehle axis ko hatao 🤣 and aj kal most of the banks shana ban gye hai.. 2 3 quarter k bad high chances of downgrade.. baki tumhare marji..

I think in Indusind Pioneer, there are no charges for non MAB or no downgrades also. as told by the RM. But by AXIS RM it was clearly told that account will be downgraded if non MAB which will be checked each quarter.

 

[pratyushpanda]

I think in Indusind Pioneer, there are no charges for non MAB or no downgrades also. as told by the RM. But by AXIS RM it was clearly told that account will be downgraded if non MAB which will be checked each quarter.

Yes as of now also there is no signs or information about that from any community members so that one can be a good option and as you are already select in idfc can try try also.

 

[jack333]

Yes icici and indusind don't downgrade. Hdfc and Axis might downgrade

 

[kshitij_0]

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.

How to contact to RM? How to know whether I have been provided RM or not?

 

[xiddy]

How to contact to RM? How to know whether I have been provided RM or not?

Login to imobile and click on "Me" on the bottom left. If you have one, then it will give you an option to connect with them at the top.

 

[xiddy]

Great. Looks like a professional RM unlike others who always give excuses.

Turns out that she is just new and unaware of how things are done 😂 Can't upgrade to wealth management until you have 25L relationship with them.

 

[jack333]

I'll tell you a trick. Open a new wealth account for 5-10 lakh deposit. In few days your older account will also automatically become wealth. Then you can even close your new account

 

[xiddy]

I'll tell you a trick. Open a new wealth account for 5-10 lakh deposit. In few days your older account will also automatically become wealth. Then you can even close your new accountI

Did that happen to you? I can look into doing that.

 

[TheTrickySid]

Did that happen to you? I can look into doing that.

Yes
I can confirm this, but you have to maintain mab in your old account according to it's variant.

Your new account will be 0 mab

 

[xiddy]

That's not an issue. I'll contact my branch to open a new account then. Thanks!

 

[xiddy]

Can I open it in a separate branch? Or does it have to be the same one as my old account?

 

[Rahul92]

I've only credit card relationship with icici and account shows wealth/black status in mobile app as my card CL > 5L

So , if i open a normal 10k savings account , it will be upgraded to wealth ?

Or do i have to open a wealth account with initial 5L funding and then let it be 0 MAB ?

 

[TheTrickySid]

Can I open it in a separate branch? Or does it have to be the same one as my old account?

Yes you can open it in any branch and then later you can even get it transferred to any branch of your choice