SBI Wealth account free upgrade (no eligibility criteria for IIT students)

[Nitheesh]

So, the cultural fest of IIT Madras, Saarang, is happening, and SBI has come up with a new offer. We can upgrade our SBI account to the Wealth variant without maintaining any criteria. This is for IIT final-year students. Attaching the banner here. Ask your college branch for such offers.

These are the existing eligibility criteria. And they are ready to waive this. Also, it is a zero MAB account. You will get a Wealth Visa Signature Debit Card or Wealth RuPay Select debit card.

 

[xfactcc]

SBI has Wealth variant too! Interesting.

Following.

 

[shrewdoc]

SBI has Wealth variant too! Interesting.

Following.

Not at all interesting. SBI always has sub-par rates for FDs. Their lunch-break theme will always be there. The RMs managing your accounts will be the same people. There won't be any accountability as it's a PSB, they'll just toss you around.

I haven't seen a single person holding SBI Wealth tbh. BOB's wealth offering sounds better at this point, considering you get Eterna LTF.

It's just my POV that if you want priority banking services, you should always opt for Private Banks. PSBs and Priority Banking don't go hand-in-hand.

 

[Calm Radiance]

It's just my POV that if you want priority banking services, you should always opt for Private Banks. PSBs and Priority Banking don't go hand-in-hand.

I second that

 

[Nitheesh]

Not at all interesting. SBI always has sub-par rates for FDs. Their lunch-break theme will always be there. The RMs managing your accounts will be the same people. There won't be any accountability as it's a PSB, they'll just toss you around.

I haven't seen a single person holding SBI Wealth tbh. BOB's wealth offering sounds better at this point, considering you get Eterna LTF.

It's just my POV that if you want priority banking services, you should always opt for Private Banks. PSBs and Priority Banking don't go hand-in-hand.

I do agree. But if you are getting it for free, then I don't see any issue with that.

 

[rrsji]

how can I get the SBI Rupey Select card on it? How do you guys manage your demate with RM (consider having small amount like 4-5 lakh in initial time)

 

[Nitheesh]

how can I get the SBI Rupey Select card on it? How do you guys manage your demate with RM (consider having small amount like 4-5 lakh in initial time)

Your RM won't do it. Go to your home branch and fill out the form for a new debit card. Mention the SRW code on top of it and tell the employee specifically that this code should be used. You will see the new card in YONO within two days.

 

[binno]

So, the cultural fest of IIT Madras, Saarang, is happening, and SBI has come up with a new offer. We can upgrade our SBI account to the Wealth variant without maintaining any criteria. This is for IIT final-year students. Attaching the banner here. Ask your college branch for such offers.

These are the existing eligibility criteria. And they are ready to waive this. Also, it is a zero MAB account. You will get a Wealth Visa Signature Debit Card or Wealth RuPay Select debit card.

Will this be available again in Paradox Fest?

 

[rrsji]

Your RM won't do it. Go to your home branch and fill out the form for a new debit card. Mention the SRW code on top of it and tell the employee specifically that this code should be used. You will see the new card in YONO within two days.

Thanks for the information. What is the SRW code for the SBI Rupey Select Card?
Also, I've been receiving emails about free demat accounts from SBI. Is the Demat account really free?

 

[Vishal N]

SBI has Wealth variant too! Interesting.

Following.

SBI is the last bank you want a wealth account at. You ideally want it at a smaller bank where your balance is important to the branch.

With SBI, it's so big that even a 100 crore account can be treated badly and no effect on balance sheet. Most Indians will (involuntary) still have accounts.

 

[Vishal N]

Thanks for the information. What is the SRW code for the SBI Rupey Select Card?
Also, I've been receiving emails about free demat accounts from SBI. Is the Demat account really free?

You can open for free. It'll have maintenance charges, transaction charges etc. go with discount brokerage like Angel One, Zerodha, groww

 

[xfactcc]

SBI is the last bank you want a wealth account at. You ideally want it at a smaller bank where your balance is important to the branch.

With SBI, it's so big that even a 100 crore account can be treated badly and no effect on balance sheet. Most Indians will (involuntary) still have accounts.

Don't want special treatment, just want the facilities and freebies. For e.g., I don't like the RMs I have received so far from HNI banks and would rather not have them.

Conversely SBI having its massive capital will likely to provide more freebies (their regular savings account is 0 bal) without conditions or looming fear of downgrade that smaller banks will do.

 

[Vishal N]

Don't want special treatment, just want the facilities and freebies. For e.g., I don't like the RMs I have received so far from HNI banks and would rather not have them.

Conversely SBI having its massive capital will likely to provide more freebies (their regular savings account is 0 bal) without conditions or looming fear of downgrade that smaller banks will do.

SBI won't provide more freebies

 

[rrsji]

I am still searching for how to get the SBI Rupey Select debit card or/and Elite free credit card on my SBI Wealth account.