Can I get a HDFC salary account even though my company doesn't have a Corporate Salary Relationship with HDFC?

[wapenshaw]

HI,

My Sal is around 1.6LPM. I have been using a standard savings account on ICICI for 3 years now since our employer has a corpo salary relationship (CSR) with icici (whatever that is). The thing is this account has been completely non beneficial to me in the no one offered me anything, Even the ICICI coral card I have I have applied online with 500 annual fee and 50k Limit. Never an offer for increase in limit or any free upgrades.

I was wondering if I could shift to HDFC salary account but their webpage says we need to have a CSR with HDFC and my company to open a salary account. I checked with our company accountant and he said that there is no CSR with HDFC only ICICI.

If I can't open HDFC salary, tell me ways I can improve my banking at ICICI. I see two options to upgrade some One account and some other 1LPA minimum salary account. Currently as far as I know its just a basic savings account. The debit card I have is also the nameless debit card I got with the welcome kit when I opened the account.

Please guide me in the right direction on what to do. TIA 🙂

 

[Quantum]

2 lacs MAB? Are you sure? Hdfc site says even basic salary account is 0 MAB

I was talking about preferred salary account

Check Eligibility Criteria for Preffered Banking in India at HDFC Bank

Preffered Banking Eligibility - Check out the eligibility criteria for Preffered High Networth Banking at HDFC Bank. Know more about terms & conditions, charges & other requirements.

www.hdfcbank.com

The conditions are separated by "OR".
Preferred Banking Eligibility Criteria*
A minimum Average Monthly Balance of Rs. 2 Lakhs in the Savings account
OR
A minimum Average Quarterly Balance of Rs. 5 Lakhs in a Current Account
OR
A minimum Average Monthly Balance of Rs. 15 Lakhs in a combination of Savings Accounts, Current Accounts and Fixed Deposits
OR
For Salaried Customer, Monthly net salary credit of Rs. 1.5 lakhs & above in HDFC Bank Corp Salary Account#

As per their website, for SA AMB > 2L.
For salary, >1.5L monthly credit.
Need to maintain either of these, and not all of these.

 

[wapenshaw]

Check Eligibility Criteria for Preffered Banking in India at HDFC Bank

Preffered Banking Eligibility - Check out the eligibility criteria for Preffered High Networth Banking at HDFC Bank. Know more about terms & conditions, charges & other requirements.

www.hdfcbank.com

The conditions are separated by "OR".
Preferred Banking Eligibility Criteria*
A minimum Average Monthly Balance of Rs. 2 Lakhs in the Savings account
OR
A minimum Average Quarterly Balance of Rs. 5 Lakhs in a Current Account
OR
A minimum Average Monthly Balance of Rs. 15 Lakhs in a combination of Savings Accounts, Current Accounts and Fixed Deposits
OR
For Salaried Customer, Monthly net salary credit of Rs. 1.5 lakhs & above in HDFC Bank Corp Salary Account#

As per their website, for SA AMB > 2L.
For salary, >1.5L monthly credit.
Need to maintain either of these, and not all of these.

Oh preferred banking, I was talking about general premium salary account, but it says

You must be employed with a corporate that has a salary account relationship with HDFC Bank.

This one has Zero MAB https://www.hdfcbank.com/personal/s...ium-with-platinum-debit-card/fees-and-charges

 

[Quantum]

You must be employed with a corporate that has a salary account relationship with HDFC Bank.

My company doesn't have tie up or relationship with any particular bank. But employees have the freedom to choose any savings/salary account as long as the account is in employee's name.

Couple of months back, I walked into HDFC branch and asked them about salary account. They had my company listed in both the categories i.e. normal account category and premium account category. I saw it myself on their computer screen in the drop-down.

So, instead of thinking so much about these statements, just walk into a branch and enquire about the stuffs.

This one has Zero MAB https://www.hdfcbank.com/personal/s...ium-with-platinum-debit-card/fees-and-charges

This is the DC that you get when you open any basic/medium salary account with HDFC. Even with Preferred salary account, they offer the same DC it seems.

So, yeah, walk into a branch with the motive of getting an idea as to what are they offering. Be sure they would under-offer. Negotiate.
They would explain you the benefits of their salary account in way as if you would be getting more benefits than the salary that you get monthly. 🙂

But you would realize that those are the same benefits that you can get with HDFC Savings Max Account.

 

[asyd]

I opened a corporate salary account online (Around 1lk/month salary) with HDFC in last November assuming that they are all the same. Thought I would get a platinum/millenia debit card, but instead got the useless moneyback DC in the welcome kit. Didn't care much about upgrading until now when I wanted to use the Platinum DC for HDFC bill pay.

Upon calling customer care yesterday and enquiring, they informed that my company should have tie-up with the bank or should be on the bank's list for getting platinum/millenia DC LTF. Any idea on what can be done for getting platinum DC?

I was also planning to convert it to classic account by maintaining 1lk MAB for three months (don't know if it is possible for salary accounts). Instead converting to 25k MAB and taking up things from there for platinum DC and classic/preferred banking seems to be easier. How do you guys think I should proceed from here?

 

[NShah]

I opened a corporate salary account online (Around 1lk/month salary) with HDFC in last November assuming that they are all the same. Thought I would get a platinum/millenia debit card, but instead got the useless moneyback DC in the welcome kit. Didn't care much about upgrading until now when I wanted to use the Platinum DC for HDFC bill pay.

Upon calling customer care yesterday and enquiring, they informed that my company should have tie-up with the bank or should be on the bank's list for getting platinum/millenia DC LTF. Any idea on what can be done for getting platinum DC?

I was also planning to convert it to classic account by maintaining 1lk MAB for three months (don't know if it is possible for salary accounts). Instead converting to 25k MAB and taking up things from there for platinum DC and classic/preferred banking seems to be easier. How do you guys think I should proceed from here?

Apply for new DC through mobile app or netbanking

 

[asyd]

Apply for new DC through mobile app or netbanking

It shows as chargeable for both Millenia or Platinum DC. Only moneyback is free

 

[NShah]

It shows as chargeable for both Millenia or Platinum DC. Only moneyback is free

Upgrade to saving max account you will get free ESP Dc

 

[asyd]

Just to put it out there. If your company has a corporate relationship with HDFC, only then you get the Millenia/ESP debit card with zero annual charges along with other benefits for the 0MAB salary account. The type of DC depends on the salary credited (I think <40k/month gives Millenia, and above 40k/month gives your ESP dc)

And if your company doesn't have any tie-up you only get a MB+ DC (which is useless) and a 0MAB salary account. Other DCs including Millenia and ESP are chargeable irrespective of your salary. IMO, 25k MAB savings max account would a much better option for such cases.