Bank Account Suggestion
I wanted to know which Bank will be the best to open a savings account as a college student because in that account I'll be depositing my stipends only so maybe the ones with good interest rates will be better. Or Any investment advice will also work. Thanks😀
Don't go with SBI and CBI.
IDK how the fuck they've established their systems. They aren't reliable for UPI payments past 11PM.
mohallekauncle
Student
a year ago
Currently my main account is in BOI
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SBI or HDFC imo. Don't expect many offers or high interest rates from a debit card. Look for security, ease of use and acceptability.
HardMed95
Student
a year ago
Ex-wealth management banker here. Go with ICICI without a second thought. Chanda fucked them so bad, they have improved their risk management divisions. HDFC is another option but right now the company is like a mad bull, any company that does not get funded by ICICI due to risk gets cash from HDFC so it's better to stay away
mohallekauncle
Student
a year ago
Hi! Really thanks for this tip and insight! Never knew all of this. Also is it better to get my saving FD or invest in SIP?
HardMed95
Student
a year ago
Depends on your profile. Since you are a college student right now, save the cash in your bank, turn extra cash into flexi FD while reinvesting your savings into educating yourself. MFs or even stock investments are always done through 'surplus' cash. I expect you to not have any surplus cash after investing in yourself. You can gain skills rather than capital appreciation from your savings at this age.
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There are only 3 banks in India, that won't go any mergers or go bankrupt, and have good ratings by RBI. They are HDFC, ICICI, SBI.
Most companies in BLR have salary accounts with HDFC, so go for it. Their online banking portal is dog sh*t, but their customer care is good(and that matters a lot).
IndusInd has been a great experience.
The branch near me isn't a nightmare to visit
Depending on your priorities.
Mobile app, internet banking, seamless processes go with ICICI. (but icici has shitty credit cards if that's something you'd be looking for). I personally use ICICI and I'm super happy with. I can pretty much do everything online.
If you want access to a good credit card ecosystem, HDFC or Axis.
VegetablePalav
Stealth
a year ago
HDFC!
mohallekauncle
Student
a year ago
Is the interest rate good in savings account?
If your idea for wealth creation is through saving in bank, then you should look at some normie financial advise YouTuber. You'll learn about mf etc
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