So my account has recently been migrated from Citi to Axis. So I spoke to Axis Customer care regarding the minimum balance requirement on my allotted `prestige savings account` (scheme code SBPRC) & they said it should be 75K/month;
When I asked them if alternatively instead of AMB, `Total Relationship Value`(TRV) of 3lakhs as said on their website, which includes savings+fixed deposits is considered, they said NO; its strictly AMB only. So my queries are:
1. Is TRV not really considered instead of AMB because CITI used to have the `Net Relationship Value` as the minimum criteria?
2. Is it possible to downgrade my account?
3. If downgrade is possible, which `savings account type` should I opt for (with least minimum balance to maintain)?
I had a chat with the customer care & for my `prestige savings account`, the Average Monthly Balance (AMB) is 75K as shown on their website and `Monthly Relationship Value` (MRV) is 2 lakh (it includes Savings + Current + Fixed Deposits + Mutual Funds + Insurance). On their website the Total Relationship Value is shown as 3 lakh but I think it depends/varies on account-to-account basis. So its best to get in touch with them & get a confirmation on what was allotted to your specific account.
You have to maintain either the AMB or MRV (or both if you wish). I am going to continue with the Prestige account since I have no issues with maintaining the MRV since CITI has the same rule all along to maintain the MRV of 1.5 lakh. I dont need to hard park 75K in the savings account which has been my only issue! Cool:)
Already citi had a rule of 1 lakh avg balance across products right? What is it now with axis?
I too need to check what they are upto. I think even my account showed "prestige" category. Not sure what it even means. They want us to keep 75k in SB?
I had opened citi salary account 9 years ago.
After 3-4 years, I changed my salary account to some other bank. Then Citi guys told that MAB for this account will be 1 lakh/month. So I closed the account that time.
Now few month before, I got a chequebook on my name from Axis and it was having priority mentioned on it. Also a letter was there welcoming me from Citi to Axis.
I got shocked and visited nearby branch. They told that account is operational having recent transactions. And my details are not matching with their data.
So what should I do now in this case ??
