jambusar91
TF Buzz
Does having a 5 lakh fixed deposit with Classic Account Variant with HDFC makes me qualified for the Regalia Gold credit card?
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FD backed HDFC Credit card?
- Thread starter jambusar91
- Start date
jambusar91
TF Buzz
Does HDFC Classic have some really sensible used cases as compared to HDFC Savings MAX Account
doraemon
TF Legend
sidp
TF Legend
With 5LYou can easily get regalia gold.
Depends on promo they are running. During promo period they give 90% lien amount as cl. So you need at least 3.35L fd. Other times this varies in 80-90%.
Classic is completely useless. It just gives an rm, if your ac is in small branch, rm doesn't add any value for most people.
You can generate highest value by adding other family member(max 8) under group id, so they can get 0 mab account with free esp dc for cc bill payment if your bill is high. You never know someone might be lucky to get good credit as preapproved. But know that once you add them you all share risk. So if they default or don't pay some charges it can be deducted from your account. So only add trusted family members. Never add friends or distant cousins.
sidp
TF Legend
Yes during promo only. Generally in hdfc they are paid, not even fyf.
sidp
TF Legend
You shouldn't maintain nrv to get classic status. If you already maintain & get it for free then it's OK.
Hdfc savings max & axis liberty is better than many banks premium offering in terms of features. Branch service varies branch wise not bank wise.
Many people have decent experience with axis burgundy. Only foreign banks provide consistent service irrespective of branch ex: deutsche bank, hsbc, citi(while it lasted) etc.
sidp
TF Legend
Befriend a sales agent/sm. Branch people have no idea about these.
jambusar91
TF Buzz
sidp
TF Legend
The offer was till April
Even dcb metal needs 5.6L fd. But that requires approval from higher ups. ( I think circle head for paid, bbh/gh for ltf fd cards) it isn't open for all. But till regalia gold/biz power, all cards are open for all.
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Indeed, the assertion holds merit.
When considering a Fixed Deposit (FD) with a Long-Term Fixed (LTF) strategy:
Assuming an FD interest rate of approximately 7% on a principal amount of 500,000 INR, the returns would aggregate to 3,500 INR plus an additional 2,950 INR, the latter comprising 2,500 INR plus 18% GST. This cumulative yield approaches an effective interest rate of approximately 13%, rendering it a commendable financial option.
Conversely, an alternative approach involves utilizing the credit card payment facility. By subsequently investing the 500,000 INR in index funds, which are capable of generating returns in the range of 12-13%, one can achieve comparable financial benefits.
It is imperative to recognize that Long-Term Fixed (LTF) arrangements incur costs when juxtaposed with Fixed Deposits (FDs), Unit Linked Insurance Plans (ULIPs), or other investment vehicles. Financial institutions, particularly banks, meticulously structure these offerings. Therefore, it is incumbent upon us to make judicious decisions that align with our optimal financial interests.
Mai v hu
Hdfc cc close krke
cooldown period will be there for HDFC right ?
sidp
TF Legend
My bad. Originally offer was till march 31st, then extended to April end. So... 🤣
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