Anyway to check HDFC Account type?

[ccgeek07]

Is there a way to know whether the account is Salary or Savings account in HDFC Bank?

 

[knight]

1. What happens when one switches company? Does account type change?

2. Also what happens if we stop working and start our own businesses or retire etc

3. What happens to credit cards when we retire?

1. nothing changes.. atleast didn't change for me.

2. don't know..even i wish to find out.. I saw a few posts earlier that people changed their salary account but hdfc stayed 0 balance with free debit card.. but also few people got downgraded to savings with a MAB requirement.. hdfc tnc says it downgrades after 3 months i think.. read long ago.

 

[ccgeek07]

1. nothing changes.. atleast didn't change for me.

2. don't know..even i wish to find out.. I saw a few posts earlier that people changed their salary account but hdfc stayed 0 balance with free debit card.. but also few people got downgraded to savings with a MAB requirement.. hdfc tnc says it downgrades after 3 months i think.. read long ago.

yes, as per T&C it's 3 months

 

[knight]

Yes

oops

 

[ccgeek07]

As per T&C if salary not credited for 3 months, it'll be changed to Regular Savings account

 

[4uziaul]

1. What happens when one switches company? Does account type change?

2. Also what happens if we stop working and start our own businesses or retire etc

3. What happens to credit cards when we retire?

1. Depends on the salary being credited plus the relationship your company has with the bank.

2. After few months it gets converted to savings account.

3. Yours to keep, they don't take it from you even after you retire. Just have to do KYC again from time to time.

 

[knight]

Yes

anyways if its still 0 MAB, enjoy it.
will be interesting to see if they apply DC charges.

Do you have platinum DC? and any hdfc CC?

 

[ccgeek07]

anyways if its still 0 MAB, enjoy it.
will be interesting to see if they apply DC charges.

Do you have platinum DC? and any hdfc CC?

Yes I got easyshop platinum dc and have cc too

 

[ccgeek07]

anyways if its still 0 MAB, enjoy it.
will be interesting to see if they apply DC charges.

Do you have platinum DC? and any hdfc CC?

I'm maintaining balance, so no issue of MAB

 

[knight]

I'm maintaining balance, so no issue of MAB

there are no other benefits of savings acc i guess.

if they apply dc charges, you could go for savings max.. i think it has 25k MAB and free platinum card,.

 

[CC-Muncher]

1. Depends on the salary being credited plus the relationship your company has with the bank.

2. After few months it gets converted to savings account.

3. Yours to keep, they don't take it from you even after you retire. Just have to do KYC again from time to time.

Good to know. 👍

 

[knight]

@ccgeek07 did you switch your salary acc to other banks?
if yes, any good cc offers for new salary account?

 

[ccgeek07]

there are no other benefits of savings acc i guess.

if they apply dc charges, you could go for savings max.. i think it has 25k MAB and free platinum card,.

not sure when they'll charge for DC. will leave it for this year.

 

[ccgeek07]

@ccgeek07 did you switch your salary acc to other banks?
if yes, any good cc offers for new salary account?

No, I don't have any other salary account

 

[BCh]

I've a regular savings account...updated employer detail in app (pre login). The product code in Bank Statement changed from 100 to 161. No salary credited in this account. Can anybody confirm what is Product Code 161?

 

[panu24]

I'm maintaining balance, so no issue of MAB

Is yours Savings Max account? If yes Easyshop platinum DC will be free but if not then will you not be charged for Regular Savings account with easyshop DC?

 

[panu24]

I've a regular savings account...updated employer detail in app (pre login). The product code in Bank Statement changed from 100 to 161. No salary credited in this account. Can anybody confirm what is Product Code 161?

Maybe you should also mention here what is written for your account type like the one mentioned in comment10 here. But I think people are not much aware of Product Codes of hdfc bank other than just two Regular Savings and Savings Max account.

 

[ccgeek07]

Is yours Savings Max account? If yes Easyshop platinum DC will be free but if not then will you not be charged for Regular Savings account with easyshop DC?

Account was opened as Corporate Salary Account. No salary credit from many months, Product code is still 113

 

[panu24]

Yes

The thing that need to understand here is why for product code 113, there are 2 different account type descriptions from HDFC?

 

[ccgeek07]

I've a regular savings account...updated employer detail in app (pre login). The product code in Bank Statement changed from 100 to 161. No salary credited in this account. Can anybody confirm what is Product Code 161?

I guess this is Regular Salary Account, not sure though

 

[knight]

Same mine is also 113.
Where you can see "SAVINGS - CORPORATE SALARY TYPE 2"? Is that under ProductType?

So i upgraded to Classic banking through Branch.
Now, in Smart statement, it shows "SAVINGS - RESIDENTS". Earlier it was "SAVINGS - CORPORATE SALARY TYPE 2".
Product code is still 113. I guess HDFC loves this number.

I think i'll let it be as hopefully the free dc is now dependent on classic status and shouldn't be affected if my salary account changes.