At Which Bank should I start my salary account?
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ICICI primarily for their app, internet banking and iWish. Never had to visit the branch once in the last one decade. Their customer support is top notch, too.
First of all congratulations.
Choose a bank which has multi option deposits/flexi deposits tied to salary account.
SBI and Citi has it. Not sure about others.
And also DONT opt for the credit card in the first two years.
I know itās tempting because of so many offers, but most of your friends/colleagues should have those cards.
Why not take a credit card? Your credit score will not be generated unless you have a card or a loan
Well, CIBIL score is important. But being an educated spender is more important. I am not asking them to not use credit card.
But understand how much and how often we spend first.
The problem with using credit card first is we donāt know when we are overspending.
I donāt use UPI because I canāt calculate how much I am spending on what category so I always prefer credit cards. But I feel this because itās very important for me to keep track of the expenses I am doing. I use credit card like debit card.
So I feel people should start understanding how spending with debit card feels like. And then take the next step to credit card. This is a generic advise that I think most people should be aware of. Especially when they suddenly start earning money.
Checkout Fi, Jupiter - they are having some good offers for salary accounts....
All other Banks that you mentioned just have zero balance account, free debit card... nothing more than that
General rule of financeā¦keep your money safe. FIās and Jupiterās primary bankers are ICICI and Federal Bank respectively. While FI and Jupiter may run offers but their bank doesnāt. Do and Jupiter are just burning their VC funds. No point in relying on a company which can go kaput. In case of them going kaput, thereās will be a lot of paperwork. So avoid that and open a dedicated bank AC
Fi's primary bank is also Federal Bank only.
Even if they go kaput, there will not be any issue as the money in savings account, FD/RD is with Federal Bank only. Nothing is with Fi/Jupiter....
Even if you think it's risky, you may ignore them
Kotak or ICICI, HDFC app is so shitty, has nothing. Been using the other two I mentioned have never logged in to net banking ever, app has everything
Go for ICICI. Been using it for last 12 years. Smooth app experience with a lot of features. Everything is available either on app or via customer support. No need to visit their branch at all.
Why isn't the universal answer to this isn't IDFC ?
Either you guys aren't capitalistic enough or don't respect money.
This. IDFC >>>>
https://jupiter.onelink.me/cizm/5gds3mur Use jupiter for it. They have really nice features for salary account holders.
So many customer complaints, especially with FDs. I would disagree with the recommendation
I donāt see any problem tbh. I have a FD with Jupiter too.