KOTAK Privy league Neon

[AJ331]

I have a KOTAK Savings account which is KOTAK PRO SAVINGS ACCOUNT which I can see from the statement
but the Branch Manager says my account is Privy League also (Neon). My statement also says I am a Privy League Neon customer
I have an FD with them. I have in my savings only about 40K and my FD is single digit lakhs only.
I am confused, how am I am privy League Neon with out meeting the eligibilty criteria
How does this work?

 

[plastikman]

Total TRV of 10 lakh is required for Privy Neon which includes your FD and Savings balance. Enjoy !

Edit: corrected

 

[saucy]

They might have upgraded your account.

 

[AJ331]

They might have upgraded your account.

no mine was opened as Privy only, not an upgrade

 

[AJ331]

Total TRV of 2 lakh is required for Privy Neon which includes your FD and Savings balance. Enjoy !

TRV for Neon is 10 Lakh, savings balance is 2lakh which I don't have and I don't have a TRV of 10 lakh also

 

[4uziaul]

TRV for Neon is 10 Lakh, savings balance is 2lakh which I don't have and I don't have a TRV of 10 lakh also

Then all the more reason to enjoy. 😁

 

[plastikman]

TRV for Neon is 10 Lakh, savings balance is 2lakh which I don't have and I don't have a TRV of 10 lakh also

Yes, you are right.

 

[plastikman]

no mine was opened as Privy only, not an upgrade

Then you are expected to maintain TRV / Savings balance or they may start imposing non maintenance charges. Ask your RM for clarification.

Even then they send an email saying that balance isn't being maintained and they will downgrade account.

 

[AJ331]

Then you are expected to maintain TRV / Savings balance or they may start imposing non maintenance charges. Ask your RM for clarification.

Even then they send an email saying that balance isn't being maintained and they will downgrade account.

Branch Manager told me 2-3 months back I need to maintain some 25K only, not sure how this works though..
Under the same premise only my account was created as Privy though its only a Pro Savings Account

 

[plastikman]

Branch Manager told me 2-3 months back I need to maintain some 25K only, not sure how this works though..
Under the same premise only my account was created as Privy though its only a Pro Savings Account

The BM could be misguiding you. Why not involve your RM and get it written on email ? Directly write to them and ask for a clarification on how much balance to maintain. Is yours a salary account or something ?

 

[AJ331]

So far I haven't received any mail from KOTAK regarding non maintenance of balance.
Not a salary account
I opened the account an year back

 

[plastikman]

So far I haven't received any mail from KOTAK regarding non maintenance of balance.
Not a salary account
I opened the account an year back

Some have mentioned on TF earlier that it takes years for them to enforce the minimum balance aspect.

Post in thread 'Kotak credit cards and accounts' https://www.technofino.in/community/threads/kotak-credit-cards-and-accounts.9059/post-196817

 

[saucy]

So far I haven't received any mail from KOTAK regarding non maintenance of balance.
Not a salary account
I opened the account an year back

The rules state you need to.maintain 25% of eligibility amount (i.e. 50k)

Source mat poochna, unke brochure me.likha hai, website pe mil jayega 🌚

 

[j_s]

Kotak gives its RMs and BMs a lot of liberty in setting terms. If either of them say that they can get you 0MAB then you get 0MAB. Likewise, if they tell you that they will get you an upgrade then they will get you an upgrade. If they tell you no downgrades then no downgrades. Similar pattern with other stuff too in relation to the bank.

 

[AlanDS]

How can we verify that account has been upgraded to Privy League? Does it show in netbanking or in mobile app?

 

[plastikman]

How can we verify that account has been upgraded to Privy League? Does it show in netbanking or in mobile app?

1. Go to service request on app > debit card > apply for new debit card. It'll show you Privy League DCs to apply if you have been upgraded.

2. On netbanking, it'll show maroon / black branding on top indicative of Privy League

3. Email / offers that you'll receive will have mentioned Privy League in the header

4. Your RM will contact you and provide their contact details.

 

[AlanDS]

1. Go to service request on app > debit card > apply for new debit card. It'll show you Privy League DCs to apply if you have been upgraded.

2. On netbanking, it'll show maroon / black branding on top indicative of Privy League

3. Email / offers that you'll receive will have mentioned Privy League in the header

4. Your RM will contact you and provide their contact details.

Thanks for the reply. My RM informed me that my account has been upgraded to Privy League Platinum. I originally requested for Neon since I have only 2L balance.
Yes, I can see option to apply for Privy League Platinum debit card as below :

Looks like this is Neon itself as Platinum tier suppose to get Signature Debit card as per their product details page.

I didn't notice any change in netbanking branding. Its exactly same as before. Does it take more time to sync?

 

[plastikman]

Thanks for the reply. My RM informed me that my account has been upgraded to Privy League Platinum. I originally requested for Neon since I have only 2L balance.
Yes, I can see option to apply for Privy League Platinum debit card as below :

Looks like this is Neon itself as Platinum tier suppose to get Signature Debit card as per their product details page.

I didn't notice any change in netbanking branding. Its exactly same as before. Does it take more time to sync?

Actually for Platinum you should get the LED Debit Card instead of the Neon Debit card (as attached).

You can also expect a Eazydiner 1 year membership voucher by email and a customised cheque book holder with your name embossed on it. Also, do apply for a new cheque book to get the Privy League branding.

 

[gothamalive]

I have a KOTAK Savings account which is KOTAK PRO SAVINGS ACCOUNT which I can see from the statement
but the Branch Manager says my account is Privy League also (Neon). My statement also says I am a Privy League Neon customer
I have an FD with them. I have in my savings only about 40K and my FD is single digit lakhs only.
I am confused, how am I am privy League Neon with out meeting the eligibilty criteria
How does this work?

Today I have received invite to upgrade my salary accout to privy league neon. I don't maintain balance as per their criteria. Just around 40k balance and A FD of 1 lakh. Don't know if I accept it or not?

 

[AlanDS]

Can anybody share the screenshot of netbanking portal where privy league branding is shown in black colour band?
Even after 3 days, I don't see any changes on netbanking or mobile app. So just want to see how it looks before raising a complaint. Thanks