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Which Bank Account Should I Go With? Please Suggest

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Gaurav_G

Hey Guys!

I was planning to open a new savings bank account in a private sector bank

I am very much confused between these banks – HDFC Bank – Axis Bank Or ICICI Bank

It would be very helpful for me if you guys can suggest which bank should I go with as I’m very much confused

Please note that I don’t need zero balance account and all these banks have branches near my house which makes choosing more difficult for me

Please consider all points specially customer service and guide me

Thanks a lot smile

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Deal Subedar Deal Subedar
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I have icici account and it is titanium account

Having account since 12 years and no major issues

No idea of hdfc and axis

Deal Captain Deal Captain
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rajeshcaicwacs259 wrote:

I have icici account and it is titanium account

Having account since 12 years and no major issues

No idea of hdfc and axis

Are you satisfied with the services brother? Specially the customer support?

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ICICI Bank and HDFC Bank both provide good services. You can go with either one. Make sure you get 0 balance bank account.
I don’t have personal experience with HDFC but I have been ICICI user from last 15 years. No problems whatsoever with daily banking stuff.

The only problem I have with them is that they waste lot of time to suggest their 100s of services even if you came for a 5 min work like withdrawing money from your account. They also push you very hard to signup and buy those services like FD, insurance, more accounts etc etc. Their executives don’t often think about the best interest of customers but try to sell them as much as possible and make their commission.

Because of that I have 4 ICICI accounts myself. My brother have 3. Whenever I approached them for a new service (Demat account, Locker etc), they opened a new account to make their monthly/quarterly quote. They mentioned that I could not get a locker if I do not open a new account. Such BS. Even after that they were pushing me to buy a FD or open a new savings account for my 2 year old daughter. WTF.

I was keep doing whatever they suggested for first 5-6 years and when I had enough, I told them that I will be taking my business to other bank. I will be lowering my transactions but they didn’t care.

Go with ICICI bank but don’t get trapped in sweet talk.

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hiban wrote:

1) ICICI
2) Hdfc
3) Axis

+1

Bcoz, it all depends on your transaction types.

ICICI
The only plus is a (No Question Asked) super fast service. CC are good. Always preferred to be a salary account or student account (sadly they are not opening any newer ones, check yours place). High charges otherwise. Good facilities though. Sales persons are additional headache. Keep on trying selling you something. Moderate offers, mostly user specific. Scammy rewards programme (debit).

HDFC
Good banking relationship. Moderate charges. Always confused CC. But, banking services are cool! Can be helpful if planning for loans in near future. Long term benefits are there in terms of CC approvals and many more. Always full of offers. Good rewards (cash conversion easily).

AXIS
Comparatively lower charges. Students/ overseas facilities are good. Personalized banking is there too. CC are so so, but prompt banking services (location specific.. like govt banks). Always good to open any elder’s account (high worth) to support yours. Helps in many ways in demats and forex txns. Lowest locker and other add-on charges. Provides nil/ least gateways charges for most retail txns (a major plus). Offers are constant. No idea about rewards programme though.

Hope it helps you.

PS: Any correction(s) in my notes are most welcome!

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deb3l wrote:

+1

Bcoz, it all depends on your transaction types.

ICICI
The only plus is a (No Question Asked) super fast service. CC are good. Always preferred to be a salary account or student account (sadly they are not opening any newer ones, check yours place). High charges otherwise. Good facilities though. Sales persons are additional headache. Keep on trying selling you something. Moderate offers, mostly user specific. Scammy rewards programme (debit).

HDFC
Good banking relationship. Moderate charges. Always confused CC. But, banking services are cool! Can be helpful if planning for loans in near future. Long term benefits are there in terms of CC approvals and many more. Always full of offers. Good rewards (cash conversion easily).

AXIS
Comparatively lower charges. Students/ overseas facilities are good. Personalized banking is there too. CC are so so, but prompt banking services (location specific.. like govt banks). Always good to open any elder’s account (high worth) to support yours. Helps in many ways in demats and forex txns. Lowest locker and other add-on charges. Provides nil/ least gateways charges for most retail txns (a major plus). Offers are constant. No idea about rewards programme though.

Hope it helps you.

PS: Any correction(s) in my notes are most welcome!

+1. Using ICICI account from past 4 years. Never had any issue. Customer service is super fast and I agree with your point most of the times you call them they try to sell new services.

Deal Subedar Deal Subedar
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Gaurav_G wrote:

Are you satisfied with the services brother? Specially the customer support?

Yes very much..Any issues I always DM them in twitter… They call within 5 to 6 hours.

Deal Lieutenant Deal Lieutenant
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I am quite happy with my kotak account, no Bs, overselling, plus 6% interest. Though i have hdfc also.

Deal Captain Deal Captain
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Alexios wrote:

I am quite happy with my kotak account, no Bs, overselling, plus 6% interest. Though i have also hdfc also.

How is the HDFC Account brother?

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Alexios wrote:

I am quite happy with my kotak account, no Bs, overselling, plus 6% interest. Though i have also hdfc also.

Kotak is very notorious in freezing account for various issues. Read horror stories on DD as well as on Reddit.

Mostly with their Kotak111 account or whatever it is called. Not sure about the name.

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Gaurav_G wrote:

How is the HDFC Account brother?

HDFC is equally good, if you prefer online shopping having hdfc account is a must as they are running with many offers on websites either through debit, credit card or their smart buy. Though their mobile banking is not at par. But online banking works nice and smooth. Didn’t have any issue till now for contacting customer care. And everything online now a days never had a chance to visit branch apart from opening the account.
Also experience at bank branch can differ as it mostly based on the representatives sitting there.

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Roushh wrote:

Kotak is very notorious in freezing account for various issues. Read horror stories on DD as well as on Reddit.

Mostly with their Kotak111 account or whatever it is called. Not sure about the name.

I don’t have 811 account, I have savings account which i am very much satisfied with. I doesnt have any complaints with it so far 5 years and counting.

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@Gaurav_G

Each bank has its pros & cons. Service depends not just on bank but branch staff as well.
As you do not have any limitation of zero balance so I would suggest you to go ahead with HDFC Bank Accouint.

1. Customer Support (Branch)
HDFC branch level customer support is mostly good viz. any other bank

2. Customer Support (Online)
HDFC support is less responsive then ICICI. ICICI replies are pointed on queries whereas HDFC will resolve issues but may not reply.
Problem occurs when you have issue with some offer benefit not received. It may take longer time with HDFC but I believe that won’t be a deal breaker considering other pros.

3. Offers
ICICI is very aggressive in offers but yet HDFC is far ahead in benefits. HDFC Smartbuy for debit cards give 10% on Amazon, Flipkart & other e-Com each month. They are primary partner for most E-Com offers.

4. Credit Card
Probability of getting a good credit card at no fee is more with HDFC. Once you open account within few months you may expect Lifetime Free Credit Card offer via netbanking.

5. Mobile App / Netbanking
HDFC netbanking is far more clean & easy to access then ICICI.
HDFC latest mobile app is good but iMobile fares little better but yet both lack the ease few other bank apps have. So here result is neutral.

6. Overall
I would recommend you to go with HDFC bank as first option.

Deal Captain Deal Captain
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A2Zdeals wrote:

@Gaurav_G

Each bank has its pros & cons. Service depends not just on bank but branch staff as well.
As you do not have any limitation of zero balance so I would suggest you to go ahead with HDFC Bank Accouint.

1. Customer Support (Branch)
HDFC branch level customer support is mostly good viz. any other bank

2. Customer Support (Online)
HDFC support is less responsive then ICICI. ICICI replies are pointed on queries whereas HDFC will resolve issues but may not reply.
Problem occurs when you have issue with some offer benefit not received. It may take longer time with HDFC but I believe that won’t be a deal breaker considering other pros.

3. Offers
ICICI is very aggressive in offers but yet HDFC is far ahead in benefits. HDFC Smartbuy for debit cards give 10% on Amazon, Flipkart & other e-Com each month. They are primary partner for most E-Com offers.

4. Credit Card
Probability of getting a good credit card at no fee is more with HDFC. Once you open account within few months you may expect Lifetime Free Credit Card offer via netbanking.

5. Mobile App / Netbanking
HDFC netbanking is far more clean & easy to access then ICICI.
HDFC latest mobile app is good but iMobile fares little better but yet both lack the ease few other bank apps have. So here result is neutral.

6. Overall
I would recommend you to go with HDFC bank as first option.

Thanks a lot brother ( @Roushh too) for sparing your time to explain it so nicely smile

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A2Zdeals wrote:

@Gaurav_G

Each bank has its pros & cons. Service depends not just on bank but branch staff as well.
As you do not have any limitation of zero balance so I would suggest you to go ahead with HDFC Bank Accouint.

1. Customer Support (Branch)
HDFC branch level customer support is mostly good viz. any other bank

2. Customer Support (Online)
HDFC support is less responsive then ICICI. ICICI replies are pointed on queries whereas HDFC will resolve issues but may not reply.
Problem occurs when you have issue with some offer benefit not received. It may take longer time with HDFC but I believe that won’t be a deal breaker considering other pros.

3. Offers
ICICI is very aggressive in offers but yet HDFC is far ahead in benefits. HDFC Smartbuy for debit cards give 10% on Amazon, Flipkart & other e-Com each month. They are primary partner for most E-Com offers.

4. Credit Card
Probability of getting a good credit card at no fee is more with HDFC. Once you open account within few months you may expect Lifetime Free Credit Card offer via netbanking.

5. Mobile App / Netbanking
HDFC netbanking is far more clean & easy to access then ICICI.
HDFC latest mobile app is good but iMobile fares little better but yet both lack the ease few other bank apps have. So here result is neutral.

6. Overall
I would recommend you to go with HDFC bank as first option.

Agreed go with hdfc as your first. Later on you can definitely divert some money for other account. As now a days one must have atleast two different bank account as it is very much advisable also suffice any shortcomings with other.

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Gaurav_G wrote:

Thanks a lot brother ( @Roushh too) for sparing your time to explain it so nicely smile

I will also recommend you to go with HDFC bank because there are so many benefits for online shoppers. Banking services are more or less same with ICICI and HDFC. plus1

But I will not recommend you to use HDFC credit card if you have a HDFC savings bank account. There are cases where HDFC had frozen savings bank account for late payment of HDFC credit card bill. And their staff is not at all helpful with this.

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Roushh wrote:

I will also recommend you to go with HDFC bank because there are so many benefits for online shoppers. Banking services are more or less same with ICICI and HDFC. plus1

But I will not recommend you to use HDFC credit card if you have a HDFC savings bank account. There are cases where HDFC had frozen savings bank account for late payment of HDFC credit card bill. And their staff is not at all helpful with this.

The one using credit card is supposed to pay his dues on time.
If not paid on time then they will levy late payment charges, Interest charges etc.
Those freeze cases are rare & have something else in background.

Deal Brigadier Deal Brigadier
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unless u state ur req and the purpose no one will be to guide u properly.
icici is good among the 3 for services and convenience but in terms of offers and rewards hdfc is good among the 3.

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I have ICICI account for last 19 years. Started with a salary account. Then added demat/trading account, credit card, PPF, Housing loan, Wife’s account, Child account and Sukanya Sammriddhi Account in my daughter’s name. In 19 years, I had to visit a branch only less than 20 times. Their online service is really good and the site is well developed and takes care of 99% banking requirements, thought the mobile app is not so good. Had hassle free service so far. However, when visiting branch, you need to be firm on what you want and not allow them to talk about useless things that you do not need. I once has to pointedly tell a new fella that as a premium customer who have visited for banking service, I expect that to be done first and if I do not get it the way I want, I will file complaint with their head office. After that, never had to listen to any sales pitch in that branch.
Also have Axis Bank account for 20 years. Good service without any issues, though not my primary account.

Deal Subedar Deal Subedar
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A2Zdeals wrote:

@Gaurav_G

Each bank has its pros & cons. Service depends not just on bank but branch staff as well.
As you do not have any limitation of zero balance so I would suggest you to go ahead with HDFC Bank Accouint.

1. Customer Support (Branch)
HDFC branch level customer support is mostly good viz. any other bank

2. Customer Support (Online)
HDFC support is less responsive then ICICI. ICICI replies are pointed on queries whereas HDFC will resolve issues but may not reply.
Problem occurs when you have issue with some offer benefit not received. It may take longer time with HDFC but I believe that won’t be a deal breaker considering other pros.

3. Offers
ICICI is very aggressive in offers but yet HDFC is far ahead in benefits. HDFC Smartbuy for debit cards give 10% on Amazon, Flipkart & other e-Com each month. They are primary partner for most E-Com offers.

4. Credit Card
Probability of getting a good credit card at no fee is more with HDFC. Once you open account within few months you may expect Lifetime Free Credit Card offer via netbanking.

5. Mobile App / Netbanking
HDFC netbanking is far more clean & easy to access then ICICI.
HDFC latest mobile app is good but iMobile fares little better but yet both lack the ease few other bank apps have. So here result is neutral.

6. Overall
I would recommend you to go with HDFC bank as first option.

You have written like UPSC Aspirant grinning

Community Angel Community Angel
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I have account with ICICI, HDFC and Axis
ICICI is best and Axis is worst
as per my 6 years experience with them

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Roushh wrote:

Kotak is very notorious in freezing account for various issues. Read horror stories on DD as well as on Reddit.

Mostly with their Kotak111 account or whatever it is called. Not sure about the name.

Kotak is freezing accounts for not completing biometric kyc
I have kyced account with kotak and no issues till now

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drupal wrote:

Kotak is freezing accounts for not completing biometric kyc
I have kyced account with kotak and no issues till now

True. If one does kyc properly, there won’t be any issue.

Deal Subedar Deal Subedar
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Hdfc best.
icici puts per day limits in upi and netbanking transactions.
although customer service is better in icici than hdfc.
For credit card no one beats hdfc.

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