Being asked to open a bank account for Regalia Business

[raghavx]

Hi,

I had contact HDFC Bank branch for opening a LTF Regalia Business. They told me to get it LTF either I should have a Salary account with them or I will have to open a basic ₹ 5000 MAB bank account.

Is it worth opening another bank account just for LTF Regalia? Also, what happens to my LTF card when I close my bank account?

 

[raghavx]

@Batmanbaba @HyperBeast @anirbanm bhai, please suggest

 

[TheTrickySid]

@Batmanbaba @HyperBeast @anirbanm bhai, please suggest

No issue in opening the account, just get the things in written before opening the savings account.

Also credit card won't be affected even if you close the savings account coz credit card and savings account are totally different.

 

[federer.reddevil]

I already have a Shoppers Stop Credit Card will I get a Regalia LTF if I open an account with HDFC?

 

[Batmanbaba]

@Batmanbaba @HyperBeast @anirbanm bhai, please suggest

Nothing mandatory.... But the bank employee using u to complete his monthly target...

 

[raghavx]

Nothing mandatory.... But the bank employee using u to complete his monthly target...

Should I open it then? Close it after a few months if not required?

 

[bugmenot]

Should I open it then? Close it after a few months if not required?

You may close the account after getting the cc. Make sure you get written proof for LTF card.

If you don't want to close, talk with RM to make it zero mab account. If you are closing soon, check the charges of early account closure.

 

[Batmanbaba]

Should I open it then? Close it after a few months if not required?

If u close before 1 year there will be charges for closure of account..... U can try different branch for the ltf card.... U can take it from any branch....they are offering ltf c2c

 

[raghavx]

If u close before 1 year there will be charges for closure of account..... U can try different branch for the ltf card.... U can take it from any branch....they are offering ltf c2c

Talked to them, for C2C regalia business, I need a Credit Limit of ₹ 3L, which I don't have on an old card.

So, they are offering me Millennia. Should I go for it? How difficult would it be to upgrade in the future?

 

[bugmenot]

Talked to them, for C2C regalia business, I need a Credit Limit of ₹ 3L, which I don't have on an old card.

So, they are offering me Millennia. Should I go for it? How difficult would it be to upgrade in the future?

Millennia is a cashback card while regalia is rewards card and better value can be fetched if you redeem for travel.

So first decide your preference and decide. Also if you are targeting DCB or Infinia then Regalia is a stepping stone. From Millennia it's difficult since it's below regalia in hierarchy

 

[Batmanbaba]

Talked to them, for C2C regalia business, I need a Credit Limit of ₹ 3L, which I don't have on an old card.

So, they are offering me Millennia. Should I go for it? How difficult would it be to upgrade in the future?

Millennia... Better any day...many people People are downgrading from regalia to millenia...... If u dont have sbi cashback card.... Its a good card... Take millenia hands down....