SarthakModak
TF Buzz
Is ICICI Bank Wealth Management Account useless?
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ICICI Bank Wealth Management Account
- Thread starter SarthakModak
- Start date
Yes absolutely useless. I would recommend IDFC FIRST WEALTH or HDFC IMPERIA.
1. Hdfc is more aggressive in providing offers to the customers based on account usage regularly, where icici lacks this.
2. In Idfc they offer 5% p.a. interest on the savings account, so even parking funds in the savings account makes a great deal.
Icici wealth management is also a good option, but maintaining 25L TRV makes no sense for me.
nirsark
TF Premier
Some users have reported that you do not need to maintain 25L TRV even. Some have availed it with 5-6L deposits also. It all depends on how your RM is (and how your convincing power is).
But anyways, the perks of ICICI Wealth are almost not that much re-assuring. (Pardon me: I wrote IDFC Wealth MISTAKENLY. Corrected to ICICI Wealth now)
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My ICICI account without any much banking relationship was upgraded to WEALTH ACCOUNT. I didn't even know about such product. My ICICI account was secondary account which I used only for UPI transactions by topping up as per my requirement over and above my AQB of ₹5000/-. I even today hardly maintain any balance with ICICI.
I feel my account was upgraded to WEALTH on basis of CREDIT score which I had checked using ICICI net banking.
I feel my account was upgraded to WEALTH on basis of CREDIT score which I had checked using ICICI net banking.
Batmanbaba
TF Legend
5000 Aqb means u have a acccount in semi urban branch....i though they provided this account only in urban and metro accounts....
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You can also open new family account and get them added to wealth management program with Zero AQB.
There are special lounge in many branches and also dedicated WEATH MANAGEMENT BRANCH, where only such account holders are serviced.
No one else can use those branches
There are special lounge in many branches and also dedicated WEATH MANAGEMENT BRANCH, where only such account holders are serviced.
No one else can use those branches
could you pls elaborate more? icici was my first salary account but later moved to axis but when I recently ordered cheque book from icici and saw wealthaccount there. Then I checked MAB requirement and it is showing 0 though I have been maintaining above 10K. Can I get wealth select card?
You will get the MasterCard World Debit Card.
Benefilts:
ICICI Bank MasterCard World Debit Card - Apply Online - ICICI Bank Debit Cards
ICICI Bank MasterCard World Debit Card comes with Daily cash withdrawal limit at ATM of Rs 1,00,000 and 2,00,000 while shopping online
Master Card World Benefits:
ICICI Bank Mastercard World Debit Card | Priceless Specials
Sadly new MasterCard is non issue able 😥 they will get Visa Infinite I believe
You will get the MasterCard World Debit Card.
Benefilts:
ICICI Bank MasterCard World Debit Card - Apply Online - ICICI Bank Debit Cards
ICICI Bank MasterCard World Debit Card comes with Daily cash withdrawal limit at ATM of Rs 1,00,000 and 2,00,000 while shopping onlinewww.icicibank.com
Master Card World Benefits:
ICICI Bank Mastercard World Debit Card | Priceless Specials
specials.priceless.com
Souvik
TF Premier
That's awesome, any significant benefits you've seen in ICICI Wealth Program.
I nowadays appreciate how IDFC, Bandhan bank is giving us more interest on higher balance savings compared to the spoiled big names.
Saving rate of 2.75% for us in India, however US was hovering near zero, and some EU countries had negative interest rate on savings as per my theoretical knowhow.
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Not much of a difference currently,
Only things is they have special branches/lounges for wealth management customers for priority banking.
Zero Balance of all such family accounts included in the program.
Premium debit card.
Still to use/identify more benefits as wealth management customer.
Only things is they have special branches/lounges for wealth management customers for priority banking.
Zero Balance of all such family accounts included in the program.
Premium debit card.
Still to use/identify more benefits as wealth management customer.
Souvik
TF Premier
I thought so, observed ICICI over the years, not much to brag about.
Souvik
TF Premier
I do see what youre saying, the auto sweep in part to a FD.
Its a good feature to have for people who may not have the time to track their finances closely. I had one such account in HDFC, works well.
Souvik
TF Premier
I am not really sure, but most banks nowadays have these, and to be fair and not to disappoint you, this feature is redundant if you're well aware of your finances.
You know your cash flows better, so you can perhaps book a FD better with a tenure you like and an amount you want to.......like 25000, 30000 for x years etc, unlike an automated system which makes an FD of an odd amount like 25634 for 1 year.
Depending upon how these FD's are done you may land up with multiple FD's of smaller but different amounts from time to time. I got my linked FD account closed and do my FD's myself, more so since now the interest rate differential between savings and FD has come down.
Maybe will look into it again when FD rates would touch 8% or so across the board.
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