What are some good 0 Balance accounts for students ?

[SmartyAadi]

Hi there! I am a 18yr old here and want to know what are some good banks for a 0 Balance accounts. As of now, I have opened Kotak 811 for which KYC is gonna be done this evening. I had applied for a HDFC account on 4th of december but yet no intimation from HDFC (Find this to be really pathetic, I applied for 811 day before and they gave account and all and just want to complete KYC today, really fast). Both applications were done online. I also have a minor account in ICICI which I will major but my dad is asking to make one separate account too, so is that possible ?
also, my parents have preferred banking in HDFC, Wealth managment in ICICI etc. so will it be good to link my accounts to theirs in the family banking program ?
Thank you all in advance! 🙂)

 

[AritraSaha]

Hmm sure. Will do icici and Hdfc. The Kotak 811 is going to be used by my dad actually, mainly for transferring shares and all and for other demat things. I'll only have icici, Hdfc and actually might open the IDFC one

I don't think k811 will the best choice for demat..

They freeze this account for heavy transaction..

 

[Pankhuri]

don't put lakhs in there

Forget Lakhs, Kotak charges for depositing more than 10k in cash. Even SBI's basic accounts have 50K limit for such charges.

 

[AritraSaha]

Forget Lakhs, Kotak charges for depositing more than 10k in cash. Even SBI's basic accounts have 50K limit for such charges.

Well, I don't have problem with this condition..

But freeze account suddenly.. thats very bad..

 

[varun__goel_]

Oh nice. So I just take my student Id card, aadhar and pan and they can process?? If so that's awesome!

Yess, I have just opened in September, had great experience. My nearby branch was helpful and did no drama to open 10k/25k bal acc. If by chance your clg isn't listed in their tab, convince them to select any random clg. No harm in it.

As I just read your post again, you shouldn't open hdfc acc online. Approach your parent's RM as they have preferred banking, either he will visit home or you visit branch and link it under family id.

 

[SmartyAadi]

Yess, I have just opened in September, had great experience. My nearby branch was helpful and did no drama to open 10k/25k bal acc. If by chance your clg isn't listed in their tab, convince them to select any random clg. No harm in it.

As I just read your post again, you shouldn't open hdfc acc online. Approach your parent's RM as they have preferred banking, either he will visit home or you visit branch and link it under family id.

Okay, sure. Thanks

 

[SmartyAadi]

T

Yess, I have just opened in September, had great experience. My nearby branch was helpful and did no drama to open 10k/25k bal acc. If by chance your clg isn't listed in their tab, convince them to select any random clg. No harm in it.

As I just read your post again, you shouldn't open hdfc acc online. Approach your parent's RM as they have preferred banking, either he will visit home or you visit branch and link it under family id.

He problem is that, the account my parents have is in Mumbai whereas we all are now currently living in Pune.

 

[SmartyAadi]

I don't think k811 will the best choice for demat..

They freeze this account for heavy transaction..

Oh i see. I'll tell dad about this. Thanks for the warning

 

[SmartyAadi]

Forget Lakhs, Kotak charges for depositing more than 10k in cash. Even SBI's basic accounts have 50K limit for such charges.

Oh I see. He told me he's going to transfer around 4 5L atleast, so what's good for that amount, any idea?

 

[AritraSaha]

Oh I see. He told me he's going to transfer around 4 5L atleast, so what's good for that amount, any idea?

Ask him to use icici wealth management for this ..

You can open ICICI wealth management under family banking

 

[varun__goel_]

T

He problem is that, the account my parents have is in Mumbai whereas we all are now currently living in Pune.

No problem, just visit your nearby branch and have a talk with the RM of that branch. If they do not agree, I guess you can easily give a acc opening cheque of 5L, and directly open imperia acc. With 5l cheque you can choose acc no of your choice as well.

 

[SmartyAadi]

Ask him to use icici wealth management for this ..

You can open ICICI wealth management under family banking

Okay sure. Will do. I was actually at near Icici at 2:30 and went there to major my account but network is down and also they wanted to close branch as 3 o'clock was nearing😂

 

[SmartyAadi]

No problem, just visit your nearby branch and have a talk with the RM of that branch. If they do not agree, I guess you can easily give a acc opening cheque of 5L, and directly open imperia acc. With 5l cheque you can choose acc no of your choice as well.

Oh I see. I'll talk to my dad.

 

[AritraSaha]

Okay sure. Will do. I was actually at near Icici at 2:30 and went there to major my account but network is down and also they wanted to close branch as 3 o'clock was nearing😂

Yeah, update the kyc & link with family banking..

Will get free dc & all the other benefits..

 

[SmartyAadi]

Hi. I majored my account in icici now but they said that mine is with 10k mab. So I asked them to convert it to family banking one for Wealth one and they are asking for 2L cheque

 

[AritraSaha]

Hi. I majored my account in icici now but they said that mine is with 10k mab. So I asked them to convert it to family banking one for Wealth one and they are asking for 2L cheque

So they open a new wealth management account for you & then link in to the family banking..

2L ip is required then, or if the bm is good, he can do it for 1L

 

[varun__goel_]

Hi. I majored my account in icici now but they said that mine is with 10k mab. So I asked them to convert it to family banking one for Wealth one and they are asking for 2L cheque

Go through this thread:- https://www.technofino.in/community/threads/icici-family-banking.11623/

 

[SmartyAadi]

Go through this thread:- https://www.technofino.in/community/threads/icici-family-banking.11623/

Thanks. Will do.

 

[SmartyAadi]

I don't know about the family banking. For the 0 balance savings accounts, you can consider the following...
1. ICICI Mine Account
2. IDFC Future First

I asked about idfc future first at my nearest branch and they said that it's offered only to people who are taking education loans from idfc. So they have 2 variants. One is 10k MAB and another is 25k mab. Can you tell if they are good? Both mab are no issues to maintain. Especially for idfc dc offers on various shopping brands.

 

[Vasuki]

95k stopped, i guess..

Chann se jo tuta yeh sapna 😎

Humre pass pehle se zero balance 10k account hai 😎

 

[samm255]

I asked about idfc future first at my nearest branch and they said that it's offered only to people who are taking education loans from idfc.

They won't open this account easily unless force them to. If branch staff is not co-operative then no chance to open. Twitter complain also doesn't affect much to them so reach out nodal or PNO and tell them branch is denying to open this account. When they get complaint from backend, only then they get active and do something. I had the worst experience with them regarding their services.