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10L FD (Fixed deposit), best way to invest to get a decent CC (unsecured) or banking experience!

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Hritaban

Hritaban

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I had ~10L in FD in SBI, recently got enrolled into the wealth Program thanks to family TRV value owing mostly because of my dad's investments. So, even if I take these 10L out (Rainy day funds) I won't be kicked out of the wealth Program in SBI.

As I'm not getting any additional benefits in keeping it in SBI, I wanna park 5L-10L in another bank and hope to find a decent banking upgrade or credit card for it (preferably LTF). I can do two banks ~5L each or 1 bank ~10 L. Can't invest some other place as I intend to keep them as emergency funds.

I have banking history in-(in order)
SBI(salary account)
HDFC(Classic)
Axis(student account ig)
PNB(forgot about it, just maintain the ~2k MAB as I have some old FDs guven by my grand parents here)

CC I have-
APAY Ltf- 1 lakh
MB+ Ltf 91k
Tata neu plus(recently approved)

I am a doctor, used to earn ~1.12l/month but left the job recently to study for PG. Spends are mostly groceries, insurance and fuel (no rent and electricity as I'm back with my parents, may be I can pay electricity to get some extra spends)
 
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Yes, invest 5 lakhs in HDFC for one year. After two months, visit the same branch and request a Regalia Lifetime Free card against the fixed deposit. If they deny the LTF option, consider mentioning that you might withdraw the FD.
 
techhdate said:
Yes, invest 5 lakhs in HDFC for one year. After two months, visit the same branch and request a Regalia Lifetime Free card against the fixed deposit. If they deny the LTF option, consider mentioning that you might withdraw the FD.
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Against the FD means like a secured card? Will I be able to negotiate for an unsecured Regalia LTF?

Thanks again
 
Hritaban said:
Against the FD means like a secured card? Will I be able to negotiate for an unsecured Regalia LTF?

Thanks again
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Yes, a secured card allows you to get the card faster. If you're looking for an unsecured card, visit your local branch and speak to the manager about opening a premium account. By depositing a certain amount, you can negotiate based on that.
 
techhdate said:
Yes, a secured card allows you to get the card faster. If you're looking for an unsecured card, visit your local branch and speak to the manager about opening a premium account. By depositing a certain amount, you can negotiate based on that.
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Thanks a lot man. What about IDFC? Do they allow 5L FD based wealth account? Was looking through the sub, some mentioned it's now ₹10lakh for 3 months.

But I think I wanna go the HDFC route as you mentioned. I have some MFs in HDFC, would that count as TRV?
 
techhdate said:
Yes, invest 5 lakhs in HDFC for one year. After two months, visit the same branch and request a Regalia Lifetime Free card against the fixed deposit. If they deny the LTF option, consider mentioning that you might withdraw the FD.
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Negotiation after investing is a bad idea in as per my opinion 💡
I think before hand negotiation that to not only verbally, written preferably is better.

otherwise take the card first, keeping the amount as account balance for negotiation promising as long term FD
 
cardy said:
Negotiation after investing is a bad idea in as per my opinion 💡
I think before hand negotiation that to not only verbally, written preferably is better.

otherwise take the card first, keeping the amount as account balance for negotiation promising as long term FD
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why does it matter ? you can always break the FD or take away your funds and close the account anytime you want. you still are in control
 
Hritaban said:
Thanks a lot man. What about IDFC? Do they allow 5L FD based wealth account? Was looking through the sub, some mentioned it's now ₹10lakh for 3 months.

But I think I wanna go the HDFC route as you mentioned. I have some MFs in HDFC, would that count as TRV?
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I don’t think so. Banks are always hungry for new investments, which drives them to offer you something in return. Just visit your local branch and inquire about the HDFC Preferred Savings Account. They also offer the Imperia Savings Account, but it requires a minimum monthly average balance of 10 lakhs. Ask the manager for the quickest way to obtain a credit card, whether through a fixed deposit or the savings account.
 
techhdate said:
I don’t think so. Banks are always hungry for new investments, which drives them to offer you something in return. Just visit your local branch and inquire about the HDFC Preferred Savings Account. They also offer the Imperia Savings Account, but it requires a minimum monthly average balance of 10 lakhs. Ask the manager for the quickest way to obtain a credit card, whether through a fixed deposit or the savings account.
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Thanks for your reply mate. I don't think I can mantain 10Lakh month balance rn 🤧 so, imperia is out of question. Ideally the path will be to navigate towards Infinia, but it's a long shot away, so if I can get regalia LTF, that should be a great starting point right?

DCB will be very difficult for me based on my current financial status plus I live in a tier 3 city, so acceptance is actually an issue. Are there any stories of regalia to Infinia? (Sorry if I am being a bit naive).

I can ultimately justify the cost of Infinia even without anything else because then my mum and dad can actually enjoy lounge without any headache without my presence as their happiness is ultimately what matters 😅
 
Riya Sharma said:
Salary is the easiest point to circumvent for credit cards. So many people here have super premium cards without the necessary salary. Negotiate and you can get it.
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I see. Actually seeing the recent salary guidelines was a lil bit of a heartbreak for me, as it's gonna be a bit difficult for me for me to get past 12 lakh per annum for next 3 years (as even in the best college, stipend is <1 lakh/month). Hopefully Ican negotiate.

Can you guide me, lets say tomorrow I go to my bank and enquire about the cards, what should be my starting point? Should I ask for Regalia LTF or DCB LTF or Straight ask for Infinia guidelines (💀).

I don't wanna sound stupid because I already had a beef with them regarding my cards where they had mis-selled me a card before and I had to escalate a lot and ended up getting my way only after I threatened Ombudsman.

thanks🙏🏻
 
Hritaban said:
I see. Actually seeing the recent salary guidelines was a lil bit of a heartbreak for me, as it's gonna be a bit difficult for me for me to get past 12 lakh per annum for next 3 years (as even in the best college, stipend is <1 lakh/month). Hopefully Ican negotiate.

Can you guide me, lets say tomorrow I go to my bank and enquire about the cards, what should be my starting point? Should I ask for Regalia LTF or DCB LTF or Straight ask for Infinia guidelines (💀).

I don't wanna sound stupid because I already had a beef with them regarding my cards where they had mis-selled me a card before and I had to escalate a lot and ended up getting my way only after I threatened Ombudsman.

thanks🙏🏻
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You can ask the bank for anything as long as you have the funds to back it up. For example, if you have a fixed deposit of 25 lakhs, you can easily request an Infinia card. Banks are flexible,and none of their rules are set on stone as long as they feel confident that their money is secure.
 
techhdate said:
You can ask the bank for anything as long as you have the funds to back it up. For example, if you have a fixed deposit of 25 lakhs, you can easily request an Infinia card. Banks are flexible,and none of their rules are set on stone as long as they feel confident that their money is secure.
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Lol no Infinia will not be given for 25lk fd. I have 1cr in funds with hdfc still don’t have any card with them rn
 
Hritaban said:
I see. Actually seeing the recent salary guidelines was a lil bit of a heartbreak for me, as it's gonna be a bit difficult for me for me to get past 12 lakh per annum for next 3 years (as even in the best college, stipend is <1 lakh/month). Hopefully Ican negotiate.

Can you guide me, lets say tomorrow I go to my bank and enquire about the cards, what should be my starting point? Should I ask for Regalia LTF or DCB LTF or Straight ask for Infinia guidelines (💀).

I don't wanna sound stupid because I already had a beef with them regarding my cards where they had mis-selled me a card before and I had to escalate a lot and ended up getting my way only after I threatened Ombudsman.

thanks🙏🏻
Click to expand...
You start by stating that you have an upcoming travel planned and will be utilising the lounge benefits and wish to utilise the reward rate of the card you want for booking the flight and hotel. Then you bring up the funds you have invested/are going to invest and say that you plan to continue investing with the bank if they continue to provide good experience to you.
 
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