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That sucks.not possible, need to visit branch and manually convert.
same trick i'm using and got confirmed by branch too.I don't understand here the FD rule. Does that mean if I keep 1.5 lac FD, I can keep any amount of balance in my savings a/c and still it will be considered as SavingsMax account? I currently have Regular savings account.
The type of account has to be SavingsMax, as in, the regular account has to be converted to SavingsMax. But yeah after that as long as you have FD there, you don't have to maintain 25K MAB. Confirmed from my HDFC RM too at branch.I don't understand here the FD rule. Does that mean if I keep 1.5 lac FD, I can keep any amount of balance in my savings a/c and still it will be considered as SavingsMax account? I currently have Regular savings account.
Its a catch, imo. As other banks interest rates always better than hdfc you end up losing (paying) close to 1.5k. If u deduct the 750rs(excl gst) dc charges which is free, still 750 you're paying. (ignoring other things like insurance etc) ., ex:ujjivan bank gives 8.25%fd rate, hdfc say 6-7%, still 1-1.25%less. For 1.5L it's close to 1.5k. If one can maintain discipline then 25k in saving account is better option imho..same trick i'm using and got confirmed by branch too.
as long as i hold 1.5l FD under auto renew mode in this account then no need to maintain 25000 always, mostly i spend to zero when i paid cc bills so far no MAB failure charges debited to me
Nice comparisonIts a catch, imo. As other banks interest rates always better than hdfc you end up losing (paying) close to 1.5k. If u deduct the 750rs(excl gst) dc charges which is free, still 750 you're paying. (ignoring other things like insurance etc) ., ex:ujjivan bank gives 8.25%fd rate, hdfc say 6-7%, still 1-1.25%less. For 1.5L it's close to 1.5k. If one can maintain discipline then 25k in saving account is better option imho..
Maintain 25k+ and apply for upgrade, after upgrade you can create FD yourself...@Wealth is my birth right! just curious here, Will it be sufficient to do 1.5L FD for 1 year in auto-renew mode with interest paid back to savings account. This way my investment will not be increased and blocked. Only blocked amount will be 1.5L FD. What's your opinion here?
I hope there is not specific requirements about FD for SavingsMax account. Also, should I do FD first and then approach branch for account update or let them create FD as part of my account update process?
In my scenario I opened savings max account by giving other bank cheque and after 2 months I made an fd for 1.5 lac of 5 yrs auto renewal with interest credit to my savings account every quarterly@Wealth is my birth right! just curious here, Will it be sufficient to do 1.5L FD for 1 year in auto-renew mode with interest paid back to savings account. This way my investment will not be increased and blocked. Only blocked amount will be 1.5L FD. What's your opinion here?
I hope there is not specific requirements about FD for SavingsMax account. Also, should I do FD first and then approach branch for account update or let them create FD as part of my account update process?
How much cc bills you have to pay on an average?I have a regular savings account. I have basic relationship with hdfc called as "Standard". Now have Millennia credit card. Nothing else. I too want that easyshop debit card to pay CC bills and get 1% cashback.
For fd instead of balance 25k no need to go branch their system will detect fd under cust id so non maintenance charges won’t get debitedI have a regular savings account. I have basic relationship with hdfc called as "Standard". Now have Millennia credit card. Nothing else. I too want that easyshop debit card to pay CC bills and get 1% cashback.
Not every month but some months it reaches 50k.How much cc bills you have to pay on an average?
Then better keep millenia 1%upto 400 on 40k. +join Jupiter 1%upto 250,it'll take care of your bills at same reward rate (if you're ok, use my Referral link to get 300rs free, https://jupiter.onelink.me/rDrE/541nfzy4). Earlier I was annoyed by Jupiter, but app seems fine. If already opened use code YYVTLU in coupon section for 300rs on 1st eligible Jupiter dc txn)Not every month but some months it reaches 50k.
Ok. Its upto uThanks for your advice but I will prefer to keep myself related with few banks and wallets only. So will not use Jupiter.