Banking account Query

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madnav

madnav

Forerunner
I want to open a Bank account, preferably saving account.
I already have an account with Punjab Maharashtra Co-op bank but does not offer net banking.

which banking account shall i look for to serve my purpose of net banking.
(NEFT or something :huh::ashamed:)

i would like one with minimum balance limit.

i inquired at HDFC but they have 10k minimum account balance restriction.

I also would like to have that account compatible with ebay.in so that i can utilize various discout coupons :P

i'm located in Navi Mumbai and my available options (as far as i know) are:

SBI, HDFC, ICICI, Bank of Baroda, AXIS Bank.

please advice accordingly.

also, i'm a complete newbie to online banking, so any info about basics wouldn't hurt this topic :)

Thank you.
 
^^ Have used ICICI, HDFC, as well as Citibank. Found Citibank services the best, although their minimum balance is a joke (INR 3 lakhs AFAIK)
 
I use both Citi and ICICI, i think you can try ICICI, they have various packages and schemes for new accounts which may reduce the minimum balance requirements for you.
 
Check out Kotak, they have a special promotion for teh new customer - zero balance account. The only catch is you'll be required to make at least 3 transactions in a month.

In terms of service they are pretty good. I would rate them next after Citi.
 
Open a account with SBI which has minimum balance of Rs 500/1000 with all normal Internet Banking facilities like NEFT, RTGS, Inter Bank. Though NEFT to other banks would be charged @ Rs. 5/transaction.

You can use this account for IRCTC, other online recharges but Ebay currently supports Credit Card for PaisaPay facility but soon they start with Debit card also.
 
Go with Indian Overseas Bank....and open an zero balance account. They provide Int. Visa debit card, which can be used to shop any place in world where visa card is accepted. Try to read the features of saving account of various banks on their websites. Then decide yourself watever suits u most.

PS: plz check that most banks charges some money for online transaction or transaction thru debit/credit cards. Then decide the bank to open the account with.
 
I would prefer ICICI, as they have a lot of options and guddies, eg. interest free EMIs, can pay for Ebay transactions etc. etc. , but it depends, what will be various charges (eg. any maintenance charge, atm card charge etc etc).
 
Most of the banks offer Zero Balance A/cs. HDFC's Zero Bal. is good, they'll give you all facilities.
 
i will definitely check with nearest ICICI branch...

checked HDFC and it's definitely not zero balance..

minimum balance to be maintained is 10k there.

@ Aces.. maybe that 3Lac limit is for current accounts. It really sounds useless if its for savings account.
 
Aces170 said:
^^ Have used ICICI, HDFC, as well as Citibank. Found Citibank services the best, although their minimum balance is a joke (INR 3 lakhs AFAIK)
Click to expand...

that means in your account u have 3l plus...could u plz share the password?

:ohyeah:

madnav said:
i will definitely check with nearest ICICI branch...

checked HDFC and it's definitely not zero balance..

minimum balance to be maintained is 10k there.

@ Aces.. maybe that 3Lac limit is for current accounts. It really sounds useless if its for savings account.
Click to expand...

Madnav ask straight that u want zero balance account..normally called no frills account....every bank has it but i guess they charge u for every small stuff like even cheque leaf though nominal(2.5 buks or 5 buks per cheque book)

SInce agents commission is less they avoid giving u details ..it would be better if u take print out from their respective site

Also its advisable u do your home work before going to bank and ask for account like what u want and is their need for a debit cum atm card with high limit really necessary...though they are not compulsory...u are forced to get that and annual amount say 100-250 buks gets deducted

Best would be u zero down some banks in your area...on site study their accounts pattern go there personally waste there 1hour ard just to see how fast is their service like i was about to open an account in SBI the nearest bank ard my place....but was shocked with their horrible service..like waiting for an hour in line and than saying its my lunch time u join another line plus always need to waste time in doing public service and in that case some peoples have faced pick pockets

i m using hdfc but lately my branch too is crowded but being the first few customers of their branch i enjoy co-ordial relation plus get changes easily for my business needs plus locker at 50% discount rates

No Frills Account | HDFC Bank - Zero Balance Account, No Frills Savings Account

(but ill suggest u check your local branches of HDFC,ICICI,AXIS,BOB,with ICICI the last option as they have the best habit to change and charge money from your account without informing)

sumchamp said:
^ ICICI is also having 10k limit for savings account. But they have http://www.techenclave.com/general-talk/icici-b2-banking-true-internet-banking-125028.html
Click to expand...

It was 5k they recently increased it to 10k and was later joined by HDFC
 
MAGNeT said:
It was 5k they recently increased it to 10k and was later joined by HDFC
Click to expand...

Did the required balance changed for the pre-existing customers too ?Or would it continue to be what it was at the time of account opening ??? Asking coz i have lower than 10k in an HDFC account that i've not checked for ages..... :( wonder if they've charged penalties already :huh:
 
^ ICICI's 10k minimum balance is applicable for new accounts as well as old accounts. Don't know about HDFC.

Btw if you can get the HDFC No Frills account, its the best. Has all the features and even NEFT is free. But nowdays they are not giving No Frills account to people I think. Try a branch away from the city for a better chance in getting a No Frills account from HDFC. :)
 
go for HDFC best services ..... icici people have many hidden costs n then afterwrds pange .... :P ... east or west HDFC z best

hdfc z minimum balanz maintained shuld be 5k / month calculated quaterly...
 
thank you everybody for your input.

will visit concerned banks and get as much info as i can.

@magnet..

thanks for the term 'no frills' ..that shall get me to the point while discussing with their front desk... although i'm not entirely concerned about zero balance... anything as low as 1-2k shall do just fine..which i think SBI has (as posted by someonon page 1)

i will consider the options and services offered by ICICI and HDFC for their no frills account and will post here incase i have any doubts.

Thank you everybody, it has been very helpful. :)
 
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