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HDFC imperia vs Axis burgundy
- Thread starter Paras
- Start date
For pre approved offer HDFC is better, in terms of credit cards specifically. But Axis gives good amount of secured loan offers than HDFC, at least for me it happened. I do hold both Imperia and Burgundy.
For wealth management, you really can’t rely on any bank. Most RMs will end up selling you ULIPs. The higher the tier is, the better the sales person get assigned to your account to squeeze out more money by bank, whom they have given a name called “Relationship Manager”.
I prefer Burgundy DC over Imperia DC as, offers and more limit of transactions.
For both the account, the opening cheque amount is 5L, no need to negotiate there. But for pre-approved offers, ofcourse your maintained amount will be counted. The higher the amount, the better the offer’s probability.
And these HNI accounts mostly rely on the Relationship Manager. Once in a blue moon you get great RM like I got with Axis, on the other hand Imperia RM who is also a BM is just a useless fellow.
Hope you got your answers!
For wealth management, you really can’t rely on any bank. Most RMs will end up selling you ULIPs. The higher the tier is, the better the sales person get assigned to your account to squeeze out more money by bank, whom they have given a name called “Relationship Manager”.
I prefer Burgundy DC over Imperia DC as, offers and more limit of transactions.
For both the account, the opening cheque amount is 5L, no need to negotiate there. But for pre-approved offers, ofcourse your maintained amount will be counted. The higher the amount, the better the offer’s probability.
And these HNI accounts mostly rely on the Relationship Manager. Once in a blue moon you get great RM like I got with Axis, on the other hand Imperia RM who is also a BM is just a useless fellow.
Hope you got your answers!
For burgundy, opening is with 5 lack, but RM is saying to deposit additional 5 lack from next month onward as i.e minimum balance of 10 lack is need to be maintained as per them, otherwise they will chart for burgundy features and eventually downgrade.
So , it is true to keep 10 lack AMB or AQB?
Or its 5 lack AQB/AMB?
Can this 10 lack be negotiated?
Yes, maintaining balance is required. Insider info: The upgrade and downgrade from Burgundy depends on RM. They can keep it to Burgundy even with zero balance if you have good relationship with your RM. All it depends on your networking skill.
And if you don't want to maintain, what's the point of opening an HNI acc? Because without good relationship you won't get any offers. So what's your end goal with Burgundy acc? Is it to get pre approved offer? If yes, with low/non maintained acc, you'll hardly get any, that I can confirm now. If you have any other goal, let me know, I'll try to help
Souvik
TF Premier
True, RM's are there for sales initiatives and hardly they are dependable.
Batmanbaba
TF Legend
Icici wealth management... Is good in this regard.... One time 10Lakh..cheque.then zero Mab........ Icici hardly downgrades account... Not even salary accounts to normal.... They just need some transactions per month in the account... As told by my branch manager...
What are the features of icici wealth management account that stand out?
Batmanbaba
TF Legend
Axis.... I am not sure.... Can't be trusted.. Hdfc instantly downgrades after month or two
For bank account you will get emails atleast month before if your total balance across accounts is less than 30L for downgrade of imperia. However if you have good relationship with RM etc. He can manage up to 2-3 months.
You can find some quick smart ways to make the shortfall.
No downgrade of any of my cards since last 10+ years.
You can find some quick smart ways to make the shortfall.
No downgrade of any of my cards since last 10+ years.
Souvik
TF Premier
Interesting, so I understand that credit cards are not really related to the type of account you hold. (HDFC Cust Care said so)
So what really would be the change in this case of non maintainence of balance, Imperia would be downgraded to Preferred ?
Would debit card/cheque book be changed again in case of default ?
1. There was no downgrade for my account, it was happened by accident as balance fall below 30L but it was fixed by relationship manager in 5-7 days. No other impact on debit, credit, and cheque book.
2. Credit cards also offered on basis of relationship like Imperia, etc. But haven't noticed any changes at all.
Everything is based on your relationship with the bank, aging of account, and how good is your relationship manager or his/her manager.
Souvik
TF Premier
Default as in failing to maintain required MAB.
how did you get priority account?
i maintain the aqb required for priority for over a year now. i contacted axis to upgrade my normal account to priority. they said to visit the branch.
over email, they asked me to apply for upgrade through the app. but for me, the app shows no account upgarde offers available.
