Any Premium HDFC CC Suggestions for HDFC Preferred Banking?

[baran12]

Hey Guys, I was recently upgraded to HDFC preferred banking. A month ago I guess. I maintain an AMB of 10-12L with them and have Millenia CC at the moment. Though any of the rest of the features and facilities seem of no use to me like locker benefits etc, anything I can make use of the relationship from a credit card standpoint?

Any premium version of CCs I can take leveraging this relationship for LTF access? An income of around 2.7-3L gets credited to my account every month if that's helpful.

 

[imdjay]

Hey Guys, I was recently upgraded to HDFC preferred banking. A month ago I guess. I maintain an AMB of 10-12L with them and have Millenia CC at the moment. Though any of the rest of the features and facilities seem of no use to me like locker benefits etc, anything I can make use of the relationship from a credit card standpoint?

Any premium version of CCs I can take leveraging this relationship for LTF access? An income of around 2.7-3L gets credited to my account every month if that's helpful.

When you say income, do you mean salary? If yes, try applying for Infinia with the help of your BM based on your salary slips.
If not, then do it based on ITR. It should be >=36 lakhs as per their Tnc. But they can negotiate a little bit. This depends upon your BM.
Do not talk with any RM or others. Always talk with BM or someone from his/her above.


Mark my post as an answer if this helps.

 

[baran12]

When you say income, do you mean salary? If yes, try applying for Infinia with the help of your BM based on your salary slips.
If not, then do it based on ITR. It should be >=36 lakhs as per their Tnc. But they can negotiate a little bit. This depends upon your BM.
Do not talk with any RM or others. Always talk with BM or someone from his/her above.


Mark my post as an answer if this helps.

I work for a US-based company so I pay taxes on 50% of my income under presumptive taxation. So my last year's ITR was 9lakhs something considering a 50% amount. This year's ITR when it is generated will show around 18-20L considering 50% income. Account history with HDFC is since August last year. They did call me once a few months later after the account was opened as to why my account has foreign money deposits of 2.7L every month. Maybe they wanted to categorize that transaction on their end so I told them that time that I work for a US company so it's my salary figure which is being deposited. But here in India, I guess my job is now treated as professional income/ sort of freelancer. So I do find it difficult to apply for cards in general. Here in this case ITR would still be a blocker I guess.

Open to any other LTF premium CC suggestions as well.

 

[infinia_finally]

Hey Guys, I was recently upgraded to HDFC preferred banking. A month ago I guess. I maintain an AMB of 10-12L with them and have Millenia CC at the moment. Though any of the rest of the features and facilities seem of no use to me like locker benefits etc, anything I can make use of the relationship from a credit card standpoint?

Any premium version of CCs I can take leveraging this relationship for LTF access? An income of around 2.7-3L gets credited to my account every month if that's helpful.

First you may qualify for Imperia status based on your salary credit. That generally doesn't mean anything much, but it's a tick mark.

If your RM (better still BM) is good, then you can ask them which CC they can get for you.

My experience is that it's a give and take relationship with them. They have so many customers to handle that they will not do special concessions for everyone. They will do special things only for people who give them business/ commission. E.g. If you need a loan, then they will be happy. Else 10-12L doesn't matter much to them.

 

[thegame]

please let me know if 30+L FD which would get Imperia which then can help getting Infinia LTF?

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[infinia_dedo]

Imperia will not help with Infinia, I have read that on this forum multiple times

 

[vine]

Any idea if moving existing PPF account from other Bank to HDFC will help (not on its own, but another point to use when negotiating)

 

[infinia_finally]

Any idea if moving existing PPF account from other Bank to HDFC will help (not on its own, but another point to use when negotiating)

I am not even sure if PPF account can be moved. For one friend, he tried moving from ICICI to SBI, and ICICI ended up closing it prematurely with penalty.

And for help part, PPF money is with government. Banks are just custodians AFAIK. So they don't really gain anything even if you have a huge amount in PPF.

 

[xross]

File your next ITR and take it to the branch to apply offline for the card.
Inifinia is not guaranteed, but try and see what you can get.

 

[Eye of AjayEye of Ajay is verified member.]

Imperia does help with Infinia if you get the ZH involved also high AMB is a given also loans, TPP helps a lot and make the permission process easier.

 

[vine]

PPF can be moved. I know Bank employees are themselves ignorant of the process.
What I do is , I first tell the branch employee 'I know you think it's not possible, please speak with your senior or whoever and then call me. The process is explained in your website and I have already done this with same account of sister/brother/someone in same bank'.

They don't mess up things if we make them understand that we are not ignorant in case they mess up.
This has worked for few issues with my relatives' accounts in HDFC Bank.

I know PPF may not be exactly a banking product but the money does go somewhere, most definitely it stays with the bank.

I am not even sure if PPF account can be moved. For one friend, he tried moving from ICICI to SBI, and ICICI ended up closing it prematurely with penalty.

And for help part, PPF money is with government. Banks are just custodians AFAIK. So they don't really gain anything even if you have a huge amount in PPF.

 

[infinia_finally]

PPF can be moved. I know Bank employees are themselves ignorant of the process.
What I do is , I first tell the branch employee 'I know you think it's not possible, please speak with your senior or whoever and then call me. The process is explained in your website and I have already done this with same account of sister/brother/someone in same bank'.

They don't mess up things if we make them understand that we are not ignorant in case they mess up.
This has worked for few issues with my relatives' accounts in HDFC Bank.

I know PPF may not be exactly a banking product but the money does go somewhere, most definitely it stays with the bank.

Good to know this.

 

[Ramplestillskin]

PPF can be moved. I know Bank employees are themselves ignorant of the process.
What I do is , I first tell the branch employee 'I know you think it's not possible, please speak with your senior or whoever and then call me. The process is explained in your website and I have already done this with same account of sister/brother/someone in same bank'.

They don't mess up things if we make them understand that we are not ignorant in case they mess up.
This has worked for few issues with my relatives' accounts in HDFC Bank.

I know PPF may not be exactly a banking product but the money does go somewhere, most definitely it stays with the bank.

Value wise PPF is not much for any bank its just a good to have product for the back given the high interest rate exposure.

 

[pranjal1984]

But PPF Maturity proceeds will ultimately go to a Bank account. So applicant may highlight the same if PPF Maturity is close , or complete the Maturity credit task then highlight the same.

 

[shrewdoc]

Hey Guys, I was recently upgraded to HDFC preferred banking. A month ago I guess. I maintain an AMB of 10-12L with them and have Millenia CC at the moment. Though any of the rest of the features and facilities seem of no use to me like locker benefits etc, anything I can make use of the relationship from a credit card standpoint?

Any premium version of CCs I can take leveraging this relationship for LTF access? An income of around 2.7-3L gets credited to my account every month if that's helpful.

Preferred Programme is just a joke tbh! Better get Classic instead and enjoy the same benefits. Or if you can secure a Locker for yourself, do FDs & get under Imperia Programme.

The benefit of "Premium Cards" is for namesake only. HopelessDFC considers Millennia as a Premium Offering and Regalia Gold as a super-premium card

There are 0 Lifestyle benefits associated with Preferred. Attaching HDFC upgrade form just to let you know what they consider a Premium and Super-premium offering.

So if you feel left out, it's because basically HDFC doesn't give a damn about its banking customers and treat CCs as a separate relationship in their view.

 

[vine]

But PPF Maturity proceeds will ultimately go to a Bank account. So applicant may highlight the same if PPF Maturity is close , or complete the Maturity credit task then highlight the same.

Same with FDs, isn't it.
In fact, with PPF the money stays for 15 years (except in rare cases).
I couldn't find proper literature on this, but I imagine there is a mutually beneficial process between banks and govt for PPF money, since govt decides the interest rates and provides the interest amount.

 

[vine]

Preferred Programme is just a joke tbh! Better get Classic instead and enjoy the same benefits. Or if you can secure a Locker for yourself, do FDs & get under Imperia Programme.

The benefit of "Premium Cards" is for namesake only. HopelessDFC considers Millennia as a Premium Offering and Regalia Gold as a super-premium card

There are 0 Lifestyle benefits associated with Preferred. Attaching HDFC upgrade form just to let you know what they consider a Premium and Super-premium offering.

So if you feel left out, it's because basically HDFC doesn't give a damn about its banking customers and treat CCs as a separate relationship in their view.

Satya vachanam ..

 

[infinia_finally]

Same with FDs, isn't it.
In fact, with PPF the money stays for 15 years (except in rare cases).
I couldn't find proper literature on this, but I imagine there is a mutually beneficial process between banks and govt for PPF money, since govt decides the interest rates and provides the interest amount.

Interesting. I am curious to know more about this. Do banks get to use this money for investing in anything? I thought it would go to government and they would use it.
And banks offer PPF so that they can cross sell other products.

 

[vine]

Interesting. I am curious to know more about this. Do banks get to use this money for investing in anything? I thought it would go to government and they would use it.
And banks offer PPF so that they can cross sell other products.

It is interesting.
I did try, but it seems hard to find anything about how banks use ppf monies.
I can imagine banks acting as custodians of such monies (and use them) and because it's long term of 15 years, it's never a problem to give it back to customers closing their ppf accounts. The interests are anyway given by the govt.
We need a proper banker to confirm my imagination. (I had spoken to a couple of branch managers, long time ago, but they didn't seem to be knowledgeable)
If this is true, it sounds like a win-win situation for banks.
Banks usually don't sell PPF and other govt related products because there is no incentive for the employees. It's just boring work.

 

[NewUser]

Hey Guys, I was recently upgraded to HDFC preferred banking. A month ago I guess. I maintain an AMB of 10-12L with them and have Millenia CC at the moment. Though any of the rest of the features and facilities seem of no use to me like locker benefits etc, anything I can make use of the relationship from a credit card standpoint?

Any premium version of CCs I can take leveraging this relationship for LTF access? An income of around 2.7-3L gets credited to my account every month if that's helpful.

If you had no CCs with HDFC thus far, Infinia is guaranteed at a salaried income of ₹2.75L+ per month(source: I am an Infinia holder and got my card that way only).

Since you already hold a Millenia, your existing relationship with HDFC bank comes into play as well. If I were you, I'd reach out to the HDFC POC from current organization instead of bank RM, and ask them to issue Infinia since you meet the salary criteria. They should oblige.

Infinia LTF only exists in theory so far(metal variant). I am yet to come across any person, no matter their salary or diplomat status, who holds Infinia Metal LTF.