Suggestions Required | Savings Account
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I want to open a savings account preferably zero MAB or minimal MAB for parking my small savings.
I have a few prerequisites (flexible) in mind for this account:
1. Cheque Book is required
2. Zero/Minimal MAB less than 5k
3. Lowest DC Fee
4. Initial Funding could be considered if zero MAB is being offered
Existing Savings Account
1. ICICI - Zero MAB - Active (10 year old main account)
2. IDFC - 25000 MAB - Closed
3. HDFC - 10000 MAB - Closed
4. SIB - 5000 MAB - Closed
5. BOB - B3 Silver - Active (for UPI transactions)
6. SBI - 3000 MAB - Active (joint account)
7. Axis - Rural Branch - 2500 MAB - Closed (unnecessary consolidated charges)
8. Kotak - 3 in 1 - Dormant (they are not ready to waive DP charges and fee in Demat despite their fault)
A few months ago an ICICI BM (nearest branch in my hometown) promised me a wealth account with 1L initial funding then later she declined and was trying to manipulate me with another variant with the same funding or increased funding (3L) for wealth. I have to reject the offer.
Please help!!
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Yearly credit will be more than 1L. So, BSBDA won't work for me.
Never ever suggest Jupiter account please
They have started all sorts of charging, even they will charge for virtual debit cards
@Kanjoos_Kauwa whats special in icici wealth account?
Nothing special just a complimentary world debit card (premium dc), dedicated customer care, zero MAB, family banking, sapphiro cc joining fee waived.
You already have accounts in two of the three strong banks - ICICI and SBI .. both are 0 MAB.. Also HDFC has 5K MAB for digisave youth account.
User name bilkul sahi rakha hai 🤪
It is not advisable to keep opening and closing accounts again and again for occasional benefits. Minimum balance requirement may be temporarily waived off and some premium benefits may be initially offered to attract customers by respective branches, but banks change their terms once their targets are met.
Go with Au bank Digital Savings account, if your area is serviceable.
1. Cheque Book is there
2. Zero MAB
3. Rupay Platinum Debit Card with 177 rs charges
4. No Initial Funding required.
I checked, my area is serviceable.
So summing it up:
With Chequebook
1. AU Digital - 0 MAB
2. Bandhan Neo - 5000 MAB - No Penalty for non- maintenance
3. HDFC Digisave Youth - 5000 MAB
4. Jupiter - 0 MAB
Without Chequebook
1. Niyo Global
2. Indie (maybe) - with initial funding
Please add if I missed something here.
Bank of Baroda Advantage Savings Account is decent as well, 2k MAB requirement, FREE virtual RuPay Platinum DC.
Only con I found was that one can't get RuPay Select DC with this account variant. Although physical RuPay Platinum DC is possible, so, sum total 2 RuPay Platinum DCs with this variant.
if you want to park the savings then i suggest go with
1. Bandhan Neo account (5k mab, 200 dc fees)
if chequebook is not required then you can go with
2. Sbm niyo global (zero balance, free physical debit card)
You can also go with basic savings account in any bank if the yearly credit is less than 1L and debit is 10k/month max. All bank has this account with no charges at all.