New Bank Account

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viralbug

viralbug

Forerunner
I have an HDFC bank account with a minimum balance of Rs. 5,000. However it seems they have increased that limit to Rs.10,000 without even letting me know and have even charged a fee for it. :@ :@ I have yet to give them a bashing for that, but I don't think anything can be done here.

10,000 minimum limit is a bit too much and so I'm looking for another bank account now. I would prefer a zero balance or <1000 limit with net banking. SBI has horrible service at the banks and there is always a huge line for getting anything done. ICICI has a min 10,000 limit (no I don't want a b2 account). Other options are Kotak Mahindra and Axis. Kotak is good, but for the zero balance account they charge a fee for other bank ATM withdrawls. Axis looks to have everything decent.

I'd like to know how the service of both Kotak and Axis is. Also can I buy stuff from ebay using their debit cards?
 
What is the min balance requirement for Axis? Actually HDFC Zero Balance account is the best if you can get it. Nowadays they are more strict in giving the NoFrills / Zero Balance Accounts.

Anyway the Axis / Kotak Debit cards should work on Ebay if its Visa or MasterCard.
 
Doesn't HDFC has a zero balance a/c named NoFrills or something like that.

Well as you said you don't want a B2 A/c, I'd suggest you SBI. Ya I read your post thoroughly, but do you have any other options?? SBI offers Netbanking, min quaterly limit is 1000 and others what private banks offers. Ya, for opening an a/c and for other services it may take a little more time than private banks but isn't it the most secure?? Also SBI doesn't charge like hell now and then. It's the safest one if you dont want any problem after opening an a/c.
 
Why do you have to go to the bank ? I have an SBI account and the branch here is also always full , i can get everything i need done via netbanking .
 
Every bank is suppose to provide Zero Balance Accounts to customers on request. These are called No Frill A/c's with certain limitations. But most private bank do not provide this facility in all its branches. They tend to discourage customers from going for it since its not profitable to them. So they refuse to open this kind of a/c in every branch but in far flung branches or in ones with less activity/business/ac's...

I was refused a zero frill a/c in my locality in Axis Bank... They simply told me its not available in this branch but in other branch... :(
 
Give a fixed deposit of mimimum Rs 25,00 for any period you want (Atleast 6 months) & attach the same to your existing HDFC savings bank account

Your account will become a super saver account with a zero balance & also you have the facility to overdraw till Rs 18750/- in case of an emergency

Its worthwhile as no modern bank gives the facility of no frills accounts in metros & also only to senior citizens or LIG even if they do AFAIK

HDFC No frills account eligibility is that your annual income should be less then 50K & you should not have any other bank account
 
I have HDFC.. I really dont know how to do 3rd Partry Transfer or never tried it.. I have Canara Bank Card.. I can do only purchases but not transfer of funds..Canara Bank is thumbs down

eBro
 
iyengar said:
I have HDFC.. I really dont know how to do 3rd Partry Transfer or never tried it.. I have Canara Bank Card.. I can do only purchases but not transfer of funds..Canara Bank is thumbs down

eBro
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You need to apply separately for 3rd Party Fund Transfer by submitting a form at any HDFC Branch.
manu1991 said:
Why do you have to go to the bank ? I have an SBI account and the branch here is also always full , i can get everything i need done via netbanking .
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The problem with SBI is, if you have some issues with the account, you need to visit your OWN branch, applying for netbanking, or new debit card etc which is difficult. For ICICI etc if at all you need to visit a branch, you can visit any branch in any city and get the work done.
 
viralbug;1542348 SBI has horrible service at the banks and there is always a huge line for getting anything done.[/QUOTE said:
Might be OT.

SBI is Fortune 500 company now.
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The AXIS bank no frills a/c is good. Its a zero balance a/c with no annual charges and you get a visa debit card and internet banking a/c kit after opening the a/c. But i dont have any personal experience regarding this, just got this info from their website as i was also researching for No frills a/c as its not possible for students to maintain high min. balance. If you find something better then kindly post on this thread as i will be opening an a/c in 2 or 3 weeks time.
 
manu1991 said:
Why do you have to go to the bank ? I have an SBI account and the branch here is also always full , i can get everything i need done via netbanking .
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I get what you mean, I hardly visit the bank ever. But I need to deposit cash once in a while and the line is insane for deposits. Also, the bank timings aren't so great.

The HDFC bank branch near my place doesn't provide no frills account. I had asked for it when I had gone to open the account and that's why I went for the min 5,000 bal account.

Axis and Kotak both have a no frills account. Though I haven't personally gone to the branch and asked if they give. I don't think I have any other options.
 
I think you are not only looking for <1000 deposit a/c but also service and facilities. SBI provides that all along with best security. I think SBI would be the best option for your case if you are willing to manage with the service problems.
 
RS4 said:
The AXIS bank no frills a/c is good. Its a zero balance a/c with no annual charges and you get a visa debit card and internet banking a/c kit after opening the a/c. But i dont have any personal experience regarding this, just got this info from their website as i was also researching for No frills a/c as its not possible for students to maintain high min. balance. If you find something better then kindly post on this thread as i will be opening an a/c in 2 or 3 weeks time.
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I have personal experience with AXIS. Stay away from them.
 
op the exactly same thing happened to me.This is the second time hdfc has hit me with penalties.mine was centurion bank account and it was a zero balance account and when hdfc took it over they had this 5000 average quarterly balance.I did not know about it.Now again they have increased it to 10000 and again hit me with penalties.shite i did not even eat and drink for this amount.felt really bad and then maintained 5000 in the account and now this.I am gonna close my account.no more hdfc for me.will be going with sbi.
 
Check if your dad / mom has a salary or a gold account at ICICI then you can get yourself a gold account as well with Zero balance criteria . Only the parent account needs to maintain the minimum balance. That's how I got my ICICI gold account , its really awesome as I dont need to stand in a quee as well ,just go the priority banking counter and its done.
 
FaH33m said:
Check if your dad / mom has a salary or a gold account at ICICI then you can get yourself a gold account as well with Zero balance criteria . Only the parent account needs to maintain the minimum balance. That's how I got my ICICI gold account , its really awesome as I dont need to stand in a quee as well ,just go the priority banking counter and its done.
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What? You kidding? :O Hmmm, lemme check.
 
State Bank of India.

Had the worst experience with private banks, better to stay away from them, far away.

Lost 25k in Citibank and around 3 - 4k in HDFC.
 
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