Query regarding Icici wealth management account

[Batmanbaba]

Does this account requires zero MaB after 10 lakh initial deposit...???

Is maintaining ulips, fd, rd etc cumplulsory in this account??

Is there chance of degradation if we don't maintain high balance in account for long period...??

Do we get pre approved offers for credit card in it easily...??

Are there similar accounts in axis, indusind and hdfc… With hight initial deposit… Then zero mab…

 

[mgforce]

I don't think that just by high IP cheque one can get these type of premium bank accounts with zero MAB.

In all such accounts, initial high IP cheque allows you to open the account and then one gets say 3-12 months time frame to achieve TRV (total relationship value). Else account will get downgraded or you will get charged.

Now TRV definition varies across banks..in few cases it includes FDs too. In few cases FDs are excluded.

There is no force mandate to buy ULIP etc (they will sell as usual). But across the various products (eg. Stocks, MF, FD, Loan etc) listed under TRV definition, you need to maintain sufficient balance.

Both HDFC Imperia, Axis Burgundy mandates 30 lakhs TRV. ICICI WEALTH is going through a rejig I think, but old one required 30 lakhs TRV

IDFC Wealth requires AMB of 10 lakhs or 25 lakhs TRV

Hope this helps.