Need Info on Indusind Pioneer Account

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beastboy

Hello my fellow 😄

I am planning to open Indusind Pioneer account in coming month or 2, I could see that THEY DONT levy any charges on Non maintenance of AMB but AQB is required to be maintained @ 10 Lakh, my doubt is what happens if someone is not able to maintain AQB. 

Please Comment in the thread or DM me in case the offer for Exclusive Savings account opening based on Initial funding of 4 Lakh is started again by Indusind 

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I just had a regular Indusind account with some 15-20L in SB account for a few months way back in 2019. After the first lockdown out of the blue some pioneer RM called me and offered me pioneer upgrade. 3 accounts (me and parents)+ 1 huf account. Then Indusind was offering better interest rates too so few FDs were moved too and the NRV of all the accounts was almost 50L. Come 2021 started house construction and all of it was emptied. 

No change in status of the account. SB account never has balance of more than 1L from past year and a half. But really a good account and card to have. Unlimited withdrawals anywhere, use 20% bigbasket offer, BMS booking, moreover IPO applying is better on the last day as it is till 4 (or even till 5 probably) @beastboy

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Finance Ninja Finance Ninja
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Downgrade will happen and you will start incurring all the charges.
Deal Subedar Deal Subedar
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Better open partner account... With initial 4 lakh deposit.... It will be zero mab account lifetime..... Offer running till 30 nov... U can take the entire 4 lakh after account opening 

Finance Ninja Finance Ninja
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batmanBABA wrote:

Better open partner account... With initial 4 lakh deposit.... It will be zero mab account lifetime..... Offer running till 30 nov... U can take the entire 4 lakh after account opening 

Waste, u can't redeem reward points in partner account
Deal Subedar Deal Subedar
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prem4998 wrote:
Waste, u can't redeem reward points in partner account
Who told u this....?? I have this account... My lot of friends have this account.. They easily do it..
Finance Mentor Finance Mentor
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@batmanBABA yes already opened partners account 3-4 months back with onky 2 Lakh Initial funding, I think they increased funding amount now

Deal Subedar Deal Subedar
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beastboy wrote:

@batmanBABA yes already opened partners account 3-4 months back with onky 2 Lakh Initial funding, I think they increased funding amount now

Yes... Now it's 4 lakh... They have received lot of new accounts due to this.... So bhav increased
Deal Subedar Deal Subedar
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batmanBABA wrote:

Better open partner account... With initial 4 lakh deposit.... It will be zero mab account lifetime..... Offer running till 30 nov... U can take the entire 4 lakh after account opening 

Is Partner better than Progress?
Deal Subedar Deal Subedar
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TempAcc wrote:
Is Partner better than Progress?
Progress is only for self employed....
Cool Cool
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batmanBABA wrote:
Yes... Now it's 4 lakh... They have received lot of new accounts due to this.... So bhav increased
What about exclusive account, with zero MAB eith pinnacle card?
Deal Subedar Deal Subedar
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legend101 wrote:
What about exclusive account, with zero MAB eith pinnacle card?
It was in offer till 31st oct... Dont think it will come again.... Lot of existing exclusive users who are maintaining 1 lakh... Would have bashed them too much or tried to convert their account too into zero mab
Cool Cool
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batmanBABA wrote:
It was in offer till 31st oct... Dont think it will come again.... Lot of existing exclusive users who are maintaining 1 lakh... Would have bashed them too much or tried to convert their account too into zero mab
This wasn't an offer, its a standing critera for exclusive account. Lots of people get pinnacle card with 15k fee or free from paisabazar and open exclusive account using that for a couple of years i belive
Deal Subedar Deal Subedar
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legend101 wrote:
This wasn't an offer, its a standing critera for exclusive account. Lots of people get pinnacle card with 15k fee or free from paisabazar and open exclusive account using that for a couple of years i belive
That is different.... Indusind is offering zero mab premium accounts from feb 2022 with some initial funding.... Parner was there every omonth... Other accounts come and go.... In that offer they offered exclusive account zero mab life time for just 4 lakh initial funding... No pinnacle card required....
Deal Subedar Deal Subedar
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batmanBABA wrote:
Progress is only for self employed....
A branch RM recommended a Partner account even after knowing I am self-employed. So, I guess they're not following any demanding income criteria as long as initial funding is collected. 
Long story short, I opened Progress account on a blind application. I wanted to know which is better for any future referral. 
Finance Mentor Finance Mentor
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@batmanBABA missed the offer bro, didn't know about this offer could have opened the account and easily got the exclusive account, BTW are you tracking this account opening under the Initial Funding offer?

If yes please let me know too when Indusind opens this offer again 

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I just had a regular Indusind account with some 15-20L in SB account for a few months way back in 2019. After the first lockdown out of the blue some pioneer RM called me and offered me pioneer upgrade. 3 accounts (me and parents)+ 1 huf account. Then Indusind was offering better interest rates too so few FDs were moved too and the NRV of all the accounts was almost 50L. Come 2021 started house construction and all of it was emptied. 

No change in status of the account. SB account never has balance of more than 1L from past year and a half. But really a good account and card to have. Unlimited withdrawals anywhere, use 20% bigbasket offer, BMS booking, moreover IPO applying is better on the last day as it is till 4 (or even till 5 probably) @beastboy

Elite Elite
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The penalty on non-maintenance of AB differs from bank to bank and from account type to account type. You need to check the details from IndusInd. For e.g. in IDBI, for one particular account the penalty is 5% of the difference between your actual AB and the required AB plus GST.

Deal Subedar Deal Subedar
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beastboy wrote:

@batmanBABA missed the offer bro, didn't know about this offer could have opened the account and easily got the exclusive account, BTW are you tracking this account opening under the Initial Funding offer?

If yes please let me know too when Indusind opens this offer again 

It's still running with the exclusion of an exclusive account. Each tenure is of 1 month, so you can try your luck in December. the link will be the same as posted in the thread to check the offer.
Deal Subedar Deal Subedar
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beastboy wrote:

@batmanBABA missed the offer bro, didn't know about this offer could have opened the account and easily got the exclusive account, BTW are you tracking this account opening under the Initial Funding offer?

If yes please let me know too when Indusind opens this offer again 

https://www.indusind.com/in/en/personal/offers/...

Offer updated here every month

Finance Mentor Finance Mentor
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How many accounts a Person can open in Indusind ? 

Finance Mentor Finance Mentor
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Also are you guys aware of any other premium savings accounts with no non maintenance criteria from other Indian banks? 

Finance Ninja Finance Ninja
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beastboy wrote:

How many accounts a Person can open in Indusind ? 

Tried upto 3
Finance Ninja Finance Ninja
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beastboy wrote:

Also are you guys aware of any other premium savings accounts with no non maintenance criteria from other Indian banks? 

ICICI wealth management account and SBM bank also offer one with 5L initial funding
Deal Cadet Deal Cadet
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rsai01 wrote:

I just had a regular Indusind account with some 15-20L in SB account for a few months way back in 2019. After the first lockdown out of the blue some pioneer RM called me and offered me pioneer upgrade. 3 accounts (me and parents)+ 1 huf account. Then Indusind was offering better interest rates too so few FDs were moved too and the NRV of all the accounts was almost 50L. Come 2021 started house construction and all of it was emptied. 

No change in status of the account. SB account never has balance of more than 1L from past year and a half. But really a good account and card to have. Unlimited withdrawals anywhere, use 20% bigbasket offer, BMS booking, moreover IPO applying is better on the last day as it is till 4 (or even till 5 probably) @beastboy

Is there any debit card AMC in this pioneer account?

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Watcher wrote:

Is there any debit card AMC in this pioneer account?

No AMC, no penalty for non maintaining balance. Free small locker facility and other lockers at 50% and many other benefits.
Finance Mentor Finance Mentor
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prem4998 wrote:
Downgrade will happen and you will start incurring all the charges.
@rsai01 Bro I think your account isn't downgraded as you are maintaing 1 Lakh in the SB account which meets the eligibility criteria for the Exclusive account
Finance Mentor Finance Mentor
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beastboy wrote:

Also are you guys aware of any other premium savings accounts with no non maintenance criteria from other Indian banks? 

Any inputs on this Guys ?
Blogger Blogger
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beastboy wrote:
@rsai01 Bro I think your account isn't downgraded as you are maintaing 1 Lakh in the SB account which meets the eligibility criteria for the Exclusive account
No my HUF account has balance of 15-20k as all of it has been invested. My mom's account has less than 20-25k. Only mine and dad's account have 1l+ balance. 
Finance Mentor Finance Mentor
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rsai01 wrote:
No my HUF account has balance of 15-20k as all of it has been invested. My mom's account has less than 20-25k. Only mine and dad's account have 1l+ balance. 
All the accounts need not maintain the balance under the exclusive status,
If 1 primary account is maintaining the AMB as per critera , its considered for all the associated accounts
Finance Ninja Finance Ninja
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beastboy wrote:
All the accounts need not maintain the balance under the exclusive status,
If 1 primary account is maintaining the AMB as per critera , its considered for all the associated accounts
Exactly
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