Seeking Recommendations for a New Bank Account

[sachinsharma]

Hi everyone,
I'm looking for recommendations on a suitable bank account to manage my personal finances. As a recent college graduate and new employee, I need an account that can accommodate my needs without breaking the bank.
Currently, I'm using an ICICI Insta Mine Account that I opened in late 2021. I'm interested in exploring options that either have no minimum balance requirement or a maximum MAB of 10,000.If any of you have experience with different banks or have recommendations for accounts that fit my criteria, I'd be grateful for your input.

 

[Sam Maxi]

Hi everyone,
I'm looking for recommendations on a suitable bank account to manage my personal finances. As a recent college graduate and new employee, I need an account that can accommodate my needs without breaking the bank.
Currently, I'm using an ICICI Insta Mine Account that I opened in late 2021. I'm interested in exploring options that either have no minimum balance requirement or a maximum MAB of 10,000.If any of you have experience with different banks or have recommendations for accounts that fit my criteria, I'd be grateful for your input.

Hey, you already have a account in a Pretty Good Bank as far as i know and if you Are Looking for a Private Bank then the Top Banks are HDFC, Axis, IDFC. For Regular Savings account Axis Requires 12k MAB, And 10k MAB for IDFC and HDFC Respectively. I Personally have my Primary account in HDFC and i'm Satisfied but it Really Depends from Branch to Branch. In my City Itself, Some Branches have Good Reputation for Serving the Customers well and Some are Famous for Rude and Uneasy Staff. If i were in your Place and had to Choose a Regular account with AMB, i'd Visit Nearest Branches of HDFC and IDFC and Select Accordingly.

For Zero Balance, Kotak 811 was The Undisputed No.1 Zero Balance Account and again i Personally am Using this And Again i'm Pretty Satisfied, so if you Need a Zero Balance account and can Wait, There are Rumors about Kotak Restating their Restricted Services in Apr-May once RBI Clears off the Restrictions. Some Other Zero Balance Options are, BOB and AU SFB.

The Only Bank i'll Suggest you to Stay away from is Indusind as i have had Worst Experience Comparatively.

 

[SanjuNandi]

I suggest you to try opening Yes Bank account. Visit branch if possible. I have opened an account with no minimum balance, no maintainance like no atm charges of withdrawal - withdraw money from any bank atm, unlimited time, no annual fees on debit card, they also provide a ltf rupay virtual cc with this ac. May be its yes bank premia family ac. Just check with yes bank if you have a branch nearby.

 

[TaxWiser]

Hi everyone,
I'm looking for recommendations on a suitable bank account to manage my personal finances. As a recent college graduate and new employee, I need an account that can accommodate my needs without breaking the bank.
Currently, I'm using an ICICI Insta Mine Account that I opened in late 2021. I'm interested in exploring options that either have no minimum balance requirement or a maximum MAB of 10,000.If any of you have experience with different banks or have recommendations for accounts that fit my criteria, I'd be grateful for your input.

It good to have combination of PSU & Private banks accounts, so my Recommendation based on my personal experiences will be :

• PSU: SBI Zero Balance Savings A/C
• Private: HDFC Farmer's Savings A/C (MAB: ₹2500)

 

[krishna1718]

zero balance account - go with kotak 811
No fee Banking - IDFC first with 10000 MAB
Best Banking - HDFC Regular Saving with Millenia Debit Card. with card you can easily earn 400 every month

 

[Lokesh Raghupathi]

Hey, you already have a account in a Pretty Good Bank as far as i know and if you Are Looking for a Private Bank then the Top Banks are HDFC, Axis, IDFC. For Regular Savings account Axis Requires 12k MAB, And 10k MAB for IDFC and HDFC Respectively. I Personally have my Primary account in HDFC and i'm Satisfied but it Really Depends from Branch to Branch. In my City Itself, Some Branches have Good Reputation for Serving the Customers well and Some are Famous for Rude and Uneasy Staff. If i were in your Place and had to Choose a Regular account with AMB, i'd Visit Nearest Branches of HDFC and IDFC and Select Accordingly.

For Zero Balance, Kotak 811 was The Undisputed No.1 Zero Balance Account and again i Personally am Using this And Again i'm Pretty Satisfied, so if you Need a Zero Balance account and can Wait, There are Rumors about Kotak Restating their Restricted Services in Apr-May once RBI Clears off the Restrictions. Some Other Zero Balance Options are, BOB and AU SFB.

The Only Bank i'll Suggest you to Stay away from is Indusind as i have had Worst Experience Comparatively.

My experience with IndusInd Zero Balance Saving account has been good so far. I have joined the bank recently say about 3 months but did not find anything worst as of know. But i would like to hear your experience may please let know.

 

[Sam Maxi]

My experience with IndusInd Zero Balance Saving account has been good so far. I have joined the bank recently say about 3 months but did not find anything worst as of know. But i would like to hear your experience may please let know.

Thanks for your Input, And Sure Ofc, i'd Love for People in This Community to Get Different Opinions/Perspectives and Experiences.

This Happened in June-July :- I was Looking for a Zero Balance Account with Credit Card Facility. And After Going Through Every Option, Indus was the Only Bank with Minimal Initial Funding, Zero Balance Account, Free Virtual Debit Card(First Big Reason of opting for this account as i already had Multiple Accounts and didn't want Expenses Added to it like Maintaining Balance and Debit Card Joining and Annual Fees), No Branch Visit(2nd Big Reason), And Lastly Credit Cards Availability.

And On Top of All These Requirements Met, Top YouTubers were Putting Out Videos of Best Savings Account and Strangely all of those Videos had Indus as No.1 account for that Period.

TLDR :-
I Finalized the bank and started the Process, I got a Option to Choose Debit Card, One was a Free Virtual Visa Debit Card, and Second was a Paid Physical Mastercard, and i Chose the Free Visa Card(POINT TO BE NOTED), Moving Ahead with the Process, i was asked for a Initial Funding of Rs.500, which i was totally fine with paying. After Completing full Process, the Only Thing Left is VKYC, which is the Last Step. And Guess what?? I Didn't Get Any Page Or Link Or Anything for VKYC. Now i Was Stuck without the KYC and so i Tried to Contact Indusind Bank Through Calls, No Success. I Tried Mailing, Again No Success, after 2 days of Being Stuck, i Tried if i could Login to Indus Mobile App, and Luckily when asked about Online Banking, I Opted for it and Created ID and Password, that's what Gained me Access to the App. As Soon as i Logged in Successfully, i Activated UPI and Sent my Initial Funding to Another Account. Then as i Browsed the app i Checked Debit Card Section and GUESS WHAT??!! I Do Not Have any Debit Card.

Tried Searching a Lott Online as there was No One from The Bank to Help Me. Finally Found a Link for VKYC Online, i had hopes... and i Entered my Registered Number and GUESS WHAT??!! I'm not Eligible for VKYC.

Now I'm Stuck and There's not much i can do, to Give me a Final Surprise, i Receive a Mail saying My Welcome Kit is Out for Delivery and i was like What is in the "Welcome kit??!!" The "Welcome Kit" had a Welcome Letter and that's all. Which Said "YOU'LL HAVE TO VISIT YOUR BRANCH AND COMPLETE THE KYC WITHIN 12 MONTHS OF ACCOUNT OPENING, AFTER THAT PERIOD THE ACCOUNT SHALL BE BLOCKED"

That's the End of my Indusind Worst Experience Story. If you Read it all, Kudos and P.S. You have Lots of Time Lol

 

[sachinsharma]

Hey, you already have a account in a Pretty Good Bank as far as i know and if you Are Looking for a Private Bank then the Top Banks are HDFC, Axis, IDFC. For Regular Savings account Axis Requires 12k MAB, And 10k MAB for IDFC and HDFC Respectively. I Personally have my Primary account in HDFC and i'm Satisfied but it Really Depends from Branch to Branch. In my City Itself, Some Branches have Good Reputation for Serving the Customers well and Some are Famous for Rude and Uneasy Staff. If i were in your Place and had to Choose a Regular account with AMB, i'd Visit Nearest Branches of HDFC and IDFC and Select Accordingly.

For Zero Balance, Kotak 811 was The Undisputed No.1 Zero Balance Account and again i Personally am Using this And Again i'm Pretty Satisfied, so if you Need a Zero Balance account and can Wait, There are Rumors about Kotak Restating their Restricted Services in Apr-May once RBI Clears off the Restrictions. Some Other Zero Balance Options are, BOB and AU SFB.

The Only Bank i'll Suggest you to Stay away from is Indusind as i have had Worst Experience Comparatively.

Thank you for your time and effort in responding to me—I greatly appreciate it.
I agree with you on IndusInd Bank. I recently decided to open a new account primarily to streamline my daily transactions and UPI payments. For this purpose, I have opted to use ICICI Pockets and have already accumulated approximately Rs. 127 as cashback on wallet payments and top-ups. Additionally, I have decided to proceed with ICICI Bank for my banking needs.

 

[sachinsharma]

Thanks for your Input, And Sure Ofc, i'd Love for People in This Community to Get Different Opinions/Perspectives and Experiences.

This Happened in June-July :- I was Looking for a Zero Balance Account with Credit Card Facility. And After Going Through Every Option, Indus was the Only Bank with Minimal Initial Funding, Zero Balance Account, Free Virtual Debit Card(First Big Reason of opting for this account as i already had Multiple Accounts and didn't want Expenses Added to it like Maintaining Balance and Debit Card Joining and Annual Fees), No Branch Visit(2nd Big Reason), And Lastly Credit Cards Availability.

And On Top of All These Requirements Met, Top YouTubers were Putting Out Videos of Best Savings Account and Strangely all of those Videos had Indus as No.1 account for that Period.

TLDR :-
I Finalized the bank and started the Process, I got a Option to Choose Debit Card, One was a Free Virtual Visa Debit Card, and Second was a Paid Physical Mastercard, and i Chose the Free Visa Card(POINT TO BE NOTED), Moving Ahead with the Process, i was asked for a Initial Funding of Rs.500, which i was totally fine with paying. After Completing full Process, the Only Thing Left is VKYC, which is the Last Step. And Guess what?? I Didn't Get Any Page Or Link Or Anything for VKYC. Now i Was Stuck without the KYC and so i Tried to Contact Indusind Bank Through Calls, No Success. I Tried Mailing, Again No Success, after 2 days of Being Stuck, i Tried if i could Login to Indus Mobile App, and Luckily when asked about Online Banking, I Opted for it and Created ID and Password, that's what Gained me Access to the App. As Soon as i Logged in Successfully, i Activated UPI and Sent my Initial Funding to Another Account. Then as i Browsed the app i Checked Debit Card Section and GUESS WHAT??!! I Do Not Have any Debit Card.

Tried Searching a Lott Online as there was No One from The Bank to Help Me. Finally Found a Link for VKYC Online, i had hopes... and i Entered my Registered Number and GUESS WHAT??!! I'm not Eligible for VKYC.

Now I'm Stuck and There's not much i can do, to Give me a Final Surprise, i Receive a Mail saying My Welcome Kit is Out for Delivery and i was like What is in the "Welcome kit??!!" The "Welcome Kit" had a Welcome Letter and that's all. Which Said "YOU'LL HAVE TO VISIT YOUR BRANCH AND COMPLETE THE KYC WITHIN 12 MONTHS OF ACCOUNT OPENING, AFTER THAT PERIOD THE ACCOUNT SHALL BE BLOCKED"

That's the End of my Indusind Worst Experience Story. If you Read it all, Kudos and P.S. You have Lots of Time Lol

Same thing happened with me! I opened an Indus Delight account back in 2022. At that time, they asked me for an initial deposit of 10,000. I made the deposit, but after that, everything just stopped working. I couldn't log into their app, and internet banking wasn't working either. So, I went to the branch for KYC, and even there they kept trying to convince me to upgrade my account or at least my debit card. Eventually, when the account finally became accessible, I withdrew my initial deposit, and I think I ended up closing the account last December.

But one thing I’ll say, their card does come with some good offers!

 

[Sam Maxi]

Same thing happened with me! I opened an Indus Delight account back in 2022. At that time, they asked me for an initial deposit of 10,000. I made the deposit, but after that, everything just stopped working. I couldn't log into their app, and internet banking wasn't working either. So, I went to the branch for KYC, and even there they kept trying to convince me to upgrade my account or at least my debit card. Eventually, when the account finally became accessible, I withdrew my initial deposit, and I think I ended up closing the account last December.

But one thing I’ll say, their card does come with some good offers!

Did you close it through branch? Or is there a way to close it online?

 

[sachinsharma]

Did you close it through branch? Or is there a way to close it online?

Of course, I went to the bank branch and got that account closed.

 

[Sam Maxi]

Of course, I went to the bank branch and got that account closed.

Okay i have two Indus accounts sadly, indus regular zero balance and indus indie