AU Ivy Premium Banking Program

[Bhavik Kamthe]

Hi,

I wanted to know whether anyone is a member of the AU Ivy Premium Banking Program? What is your experience of this program? I also wanted to know whether AU Bank will downgrade if the Rs 25 Lakh AQB is not maintained? or do they not have any downgrade mechanisms at all?

 

[Lobogris]

I tried it for about 6 month, mainly to try and get their Zenith + credit card. There is no significant difference between Royale and Ivy apart from the Taj Epicure membership. They will downgrade after 3 months if at least 25 lakhs are not kept in savings.

 

[prash1161]

I tried it for about 6 month, mainly to try and get their Zenith + credit card. There is no significant difference between Royale and Ivy apart from the Taj Epicure membership. They will downgrade after 3 months if at least 25 lakhs are not kept in savings.

Brooo 25l 😮🤣🤣

 

[Lobogris]

Brooo 25l 😮🤣🤣

25 lakhs in savings, not FDs, in the primary account is their minimum requirement. It's a little high as other bank programmes like HDFC Imperia and Axis Burgundy allow you to keep 30 lakhs in FDs or savings which is quite easy. That's why I downgraded after a while.

 

[prash1161]

25 lakhs in savings, not FDs, in the primary account is their minimum requirement. It's a little high as other bank programmes like HDFC Imperia and Axis Burgundy allow you to keep 30 lakhs in FDs or savings which is quite easy. That's why I downgraded after a while.

Yes that's a loss on intrest

 

[sxchzy]

Yes that's a loss on intrest

not neccesarily
you have liquidity and slab based you get up to 7%

 

[Lobogris]

Yes that's a loss on intrest

It's a loss if you compare with banks like Fincare and Equitas where you get a little higher interest on lower slabs. It's also a loss if you compare it to around 8% FD interest with SFBs. A person like me needs to keep at least 50 lakhs in savings for routine expenses. So I generally keep it with Fincare and Equitas. Keeping it with AU isn't a tremendous loss.

 

[FinoGuy]

It's a loss if you compare with banks like Fincare and Equitas where you get a little higher interest on lower slabs. It's also a loss if you compare it to around 8% FD interest with SFBs. A person like me needs to keep at least 50 lakhs in savings for routine expenses. So I generally keep it with Fincare and Equitas. Keeping it with AU isn't a tremendous loss.

Do you mind sharing what do you do for living?

 

[Lobogris]

Do you mind sharing what do you do for living?

Nothing. I don't work for a living.

 

[FinoGuy]

Nothing. I don't work for a living.

Nice joke!
I meant what's your earning stream like business, startup, sme etc

 

[SSV]

Do you mind sharing what do you do for living?

Nothing. I don't work for a living.

Nice joke!
I meant what's your earning stream like business, startup, sme etc

He is a TRUE HNI .. like True Burgundy ..!!
His already earnt money works for his living !! ... I guess ..

 

[Bhavik Kamthe]

@Lobogris thanks for sharing your experience. I guess I'll skip upgrading to Ivy then

 

[Lobogris]

Nice joke!
I meant what's your earning stream like business, startup, sme etc

Passive income. Do not want to do any actual work.

 

[Lobogris]

He is a TRUE HNI .. like True Burgundy ..!!
His already earnt money works for his living !! ... I guess ..

Not a HNI by any stretch of imagination, sir.

 

[prash1161]

Like i would be intrested to know some of source.

 

[FinoGuy]

Passive income. Do not want to do any actual work.

Oh. Inherited wealth I guess..
Ps:no offense

 

[FinoGuy]

He is a TRUE HNI .. like True Burgundy ..!!
His already earnt money works for his living !! ... I guess ..

Got to be! I mean 50L routine expenses.. Got to be...

 

[prash1161]

Got to be! I mean 50L routine expenses.. Got to be...

And he has time to spend here saving money, 😄
Rich but middle class rich

 

[CardGame]

I tried it for about 6 month, mainly to try and get their Zenith + credit card. There is no significant difference between Royale and Ivy apart from the Taj Epicure membership. They will downgrade after 3 months if at least 25 lakhs are not kept in savings.

U got the Zenith+ LTF or not finally?

 

[Lobogris]

Oh. Inherited wealth I guess..
Ps:no offense

Not inherited. I worked hard for 20 years.