Salary Account Suggestion

[demblahblah]

My friend is joining Bain and Company and has been offered a choice of salary accounts from Standard Chartered, Axis, HDFC and Kotak. Which one should he go for? Offerings are similar across all with respect to loans etc.- I've recommended HDFC to him for offers + so that he can get a premium credit card, followed by Axis

 

[Batmanbaba]

Go for hdfc.... Undoubtedly..

 

[alphadark7]

HDFC

 

[gauravkamboj]

+1 for HDFC.

Kotak - 2nd best option in terms of service/support

 

[AsB]

( HDFC > Kotak = Standard Chartered ) >>>>>>>>>>>>>>>>>>>>> Axis

 

[spider]

My friend is joining Bain and Company and has been offered a choice of salary accounts from Standard Chartered, Axis, HDFC and Kotak. Which one should he go for? Offerings are similar across all with respect to loans etc.- I've recommended HDFC to him for offers + so that he can get a premium credit card, followed by Axis

I have HDFC salary account

Pros
1) high variant debit card (no charges), like withdrawal and online spend (i think other bank provide too)
2) credit card , depend upon salary and maintenance (I don't know y I am thinking axis offer Better, I am not sure tho interns of credit card)
3) cheque and DD will be same for other banks to for salary account

But not sure about loans and stuffs

Moral of the story
Depends on salary, if less than 1lakh ok for HDFC, if more than 1Lkh go for axis (y?), because of their account hierarchy , HDFC IS LITERALLY USELESS IN TERMS OF THEIR ACCOUNT HIERARCHY, LET THAT SINK IN.

 

[spider]

What high variant DC?

You can get all DC from HDFC LTF from HDFC savings max account (25K maintenance)

Yes I mean it, it's literally useless their account hierarchy

 

[BankExpertIndia]

According To My Opinion

He Should Go For StanC... As Getting A Card From StanC Is Difficult As Compared To HDFC.

In HDFC He Can Open A Savings Max Account (25K MAB)... By Which He Will Get Pre-Approved Offer For CC.

 

[alphadark7]

Bangalore's 080 lounge accepts Axis Debit cards.
Would it be beneficial for someone to open a priority salary account in Axis if their salary is above 1 lakh?

 

[BankExpertIndia]

Bangalore's 080 lounge accepts Axis Debit cards.
Would it be beneficial for someone to open a priority salary account in Axis if their salary is above 1 lakh?

In Today Scenario… Axis Is Not A Deserving Candidate But After Citi Full Merger There Will Be 2 Cases.

1. Axis Will Be The Same… Citi Customers Will Leave.

2. Axis Will Change According To Citi Standards… Will Become The Best Bank.

 

[demblahblah]

According To My Opinion

He Should Go For StanC... As Getting A Card From StanC Is Difficult As Compared To HDFC.

In HDFC He Can Open A Savings Max Account (25K MAB)... By Which He Will Get Pre-Approved Offer For CC.

That's okay, Ultimate he won't get anyway abhi

 

[demblahblah]

Hey, can you share why please? They've offered the option of burgundy, liberty, priority and prestige

Axis/StanC

HDFC/Kotak are useless

I have accounts in HDFC/Kotak/Axis.

 

[sauchadh]

I always suggest one to open Burgundy account in Axis, if possible. I myself am a priority account holder.

what is the criteria for Burgandy account for salary holders ?

 

[Batmanbaba]

I don't know, probably 3L+ monthly salary
But don't go that route ... Open with 5L initial deposit and then you don't have to maintain anything

You'll get all features of Burgundy

I dont think axis will continue the account without deposit.. They will degrade...... Axis and hdfc are very strict in degradation.... Only icici dont degrade

 

[gpbs11]

I dont think axis will continue the account without deposit.. They will degrade...... Axis and hdfc are very strict in degradation.... Only icici dont degrade

Yes.In Axis if you don't maintain anyone of their criteria of AQB/salary/ total investment required,then they will degrade for sure from Burgundy

 

[ashwink]

Yes.In Axis if you don't maintain anyone of their criteria of AQB/salary/ total investment required,then they will degrade for sure from Burgundy

Yes

 

[Rahul92]

I don't know, probably 3L+ monthly salary
But don't go that route ... Open with 5L initial deposit and then you don't have to maintain anything

You'll get all features of Burgundy

Isn't 10L AQB still required ?

 

[Batmanbaba]

Isn't 10L AQB still required ?

Go for axis only if u can maintain the balance... They will downgrade the account..... In 3-4 months of non maintenance... They are very strict about it.... If u want premium account with no balance... And only initial funding.... Icici wealth management account is the best bet....

 

[Rahul92]

Go for axis only if u can maintain the balance... They will downgrade the account..... In 3-4 months of non maintenance... They are very strict about it.... If u want premium account with no balance... And only initial funding.... Icici wealth management account is the best bet....

What are the requirements for icici wealth management ?

BTW 3 family members including me have accounts in axis and can easily maintain required criteria. So , upgrading to Burgundy as family banking makes sense.

 

[Batmanbaba]

What are the requirements for icici wealth management ?

BTW 3 family members including me have accounts in axis and can easily maintain required criteria. So , upgrading to Burgundy as family banking makes sense.

10 lakh initial cheque..... In some branches even 5lakh can do the work..... . Then zero mab.... Also.... Then u can try for emeralde ltf.... Which is the most premium credit card of icici....