Regarding ICICI Wealth Select Savings Account opening

This one requires NRV of 3 crores + & is available in selected locations/branches only.

Their wealth management account variant required NRV of 25L plus.

https://www.icicibank.com/wealth-management/dis...

I opened this account yesterday, and seeing that today and tomorrow are holidays here in Chennai, the RM said it will be processed by Monday.

I gave a 5L cheque as initial deposit, and it is said to be a zero balance account.

1. But let’s be real – how much do I realistically have to maintain in the account or as an FD so I’m not downgraded?

2. Also – if I’m downgraded, will that Privilege (or whatever) account have a minimum balance to maintain?

Wat is the advatange in icici premium debit card.

So If I gave 5 lac as initial funding then immediately withdraw money after a/c activation can i still enjoy all the benefits. 5 lac or 10 lac doesn’t matter maintaining is the problem. I can arrange the temporary cash for this purpose

no, it’s in metro city. But initially for few years i met the NRV, after that they could have converted it into lifetime

It’s easy to convert your existing account to wealth management account just by opting their sapphiro Credit card. This way your account is zero balance wealth management account and you can utlize all the privelages of sapphiro Credit card.

I opened 1 lakh initial deposit account 3 yrs back zero balance u have to maintain 1 lakh for 30 days only

i also wanted to downgrade my 1lakh MAB accout and instead they offered me some 5 lakh MAB account without a need to maintain any balance. but they say i need usd remittance of 10k dollars per year, which i never did for the last two years and no charges/ downgrade yet

Yes a wealth account can be opened with 5L or 10L initial cheque .. You can keep 0 AMB

Wealth select account is different . can not say. Not available with all branch .

Can i able to open wealth account on a normal icici branch?

My TRV with them is a lot more than 25L with them.. I am still having a priority account!!

After reading this tread the only thing I understand is wanting to get something in return for nothing.

To the OP, do not try to open an account or get a card for which the requirements are way above what you can afford right now.
Maybe you will be able to get it, but you can suddenly be charged/downgraded for not fulfilling the criteria to hold that account. (you never know) and seeing how you said you want a 0 balance account, I don’t think the charges will be something you would want to deal with if it came to that.

You see benefits like free 5 star hotels and free flights and it’s never free. There are ways some criteria etc that you need to fulfill to get some of the benefits.

How does ICICI expect a customer to maintain 25 Lakh NRV when all he has is a 5L initial cheque?

Surely there is something else to all this.

If I opened this account will I became eligible for their pre-approved ltf premium credit cards. I have seen hdfc preferred a/c holders getting ltf regalia card as pre-approved offer similar thing happens on icici also?

How well do they manage wealth???? Any idea.

@Spiderguy252
Since you gave a 5l cheque to open the account. What was the beneficiary name you write on the cheque your name or bank’s name. I need to know because I need to fill positive pay form before giving the cheque.

My account with ICICI salary acct has linked demat account. Due to demat balance, they gradually upgraded to WM. But frankly, did not find anything special.