FD backed Premium Credit Cards Axis/ICICI/HDFC

[azura]

Hi,
I will get 1Cr+ within a month or two.(As of now) (Deceased father) After reading through comments in my previous post I want to do several FD's.
I am confused with investing options and will decide as I learn and become more informed in upcoming months.Total Novice.
Till then I want to know the FD amounts to get premium cards like Infinia, Magnus etc.
How to get these premium cards with FD's?I don't mind putting FDs in several banks.
I have huge expenditures in upcoming months (travel, legal, home renovation, sisters education, life expenses) etc. Have maxed out my current CC's.
Cibil score of 792.

Kindly guide me the best possible options.

 

[aniketkr.sharma]

Hi,
I will get 1Cr+ within a month or two.(As of now) (Deceased father) After reading through comments in my previous post I want to do several FD's.
I am confused with investing options and will decide as I learn and become more informed in upcoming months.Total Novice.
Till then I want to know the FD amounts to get premium cards like Infinia, Magnus etc.
How to get these premium cards with FD's?I don't mind putting FDs in several banks.
I have huge expenditures in upcoming months (travel, legal, home renovation, sisters education, life expenses) etc. Have maxed out my current CC's.
Cibil score of 792.

Kindly guide me the best possible options.

1cr will be eaten by hdfc only for infinia now

If you can wait then open imperia account get invite to infiniti program & then if the offers generates for infinia you will get it.

 

[praful47]

1cr fd ~ 10000000x7% (assumption)
= 700000 yearly interest
= 700000÷12
= 58,333.33 monthly interest
(before tax)

 

[azura]

1cr will be eaten by hdfc only for infinia now

If you can wait then open imperia account get invite to infiniti program & then if the offers generates for infinia you will get it.

I have a Preferred banking account with them. Can I upgrade to Imperia?
I have Regalia Gold. If the spends are 10L+, combining the above factors, will it increase any chances for Infinia?

 

[BVCBVC is verified member.]

- 30L FD for HDFC Imperia
- 30L FD for Axis Burgundy
- 30L FD for ICICI Wealth
- 10L Savings for IDFC Wealth

Negotiate with all RM's before opening FD accounts for HNI banking and Premium CC's. Always approach newly established branches as they will require business.

 

[azura]

1cr fd ~ 10000000x7% (assumption)
= 700000 yearly interest
= 700000÷12
= 58,333.33 monthly interest
(before tax)

🥹 I wont do 1cr at once, in multiple batches.
Also if it's done under my unemployed college studying sister then it comes under the 7lakh and TDS will be refunded. I may be totally wrong. Just doing calculation at top of head.

 

[azura]

- 30L FD for HDFC Imperia
- 30L FD for Axis Burgundy
- 30L FD for ICICI Wealth
- 10L Savings for IDFC Wealth

Negotiate with all RM's before opening FD accounts for HNI banking and Premium CC's. Always approach newly established branches as they will require business.

My negotiation skills are pathetic.😅
But I am gonna try my best. Gotta learn and go the long way...

 

[BVCBVC is verified member.]

My negotiation skills are pathetic.😅
But I am gonna try my best. Gotta learn and go the long way...

The above limits I mentioned are standard for HNI accounts. But for Premium CC's you need to negotiate.

 

[praful47]

🥹 I wont do 1cr at once, in multiple batches.
Also if it's done under my unemployed college studying sister then it comes under the 7lakh and TDS will be refunded. I may be totally wrong. Just doing calculation at top of head.

No body will keep full 1 cr in 1 bank fd .
If you split also you will get around 50k+ interest monthly , if you choose monthly interest payout .

 

[aniketkr.sharma]

I have a Preferred banking account with them. Can I upgrade to Imperia?
I have Regalia Gold. If the spends are 10L+, combining the above factors, will it increase any chances for Infinia?

Whats your credit limit?

 

[azura]

Whats your credit limit?

Just 3L only. Started this Jan only.

 

[aniketkr.sharma]

Just 3L only. Started this Jan only.

Now, you have to wait 6 months, means in August they will hear anything from you.

 

[sunit123]

Big banks give damn about a FD of 1 or 2 Cr especially in metro city (Based on my personal experience)...It is as good as 10k savings account....In metro, 5 Cr is a serious business...Once the money is credited in your account, You will be bombarded with RM calls for ULIP (Simply tell them to FO)

 

[azura]

Big banks give damn about a FD of 1 or 2 Cr especially in metro city (Based on my personal experience)...It is as good as 10k savings account....In metro, 5 Cr is a serious business...Once the money is credited in your account, You will be bombarded with RM calls for ULIP (Simply tell them to FO)

ULIP, new term added to list of research. Will keep away from them 😅