HDFC Credit Based on HDFC Sweep-in

[JoshuaJebaraj]

Hey Folks I recently opened my hdfc account 2 months ago savings max and maintained the balance over 60k the main reason I opened is for credit card , Today I got a call from employee saying that If I deposit 50k over the sweep-in FD, I will get the offer for credit card is it true ? Also they mentioned there is no Lock-in period for sweep based FD , So whats the catch?

 

[SpiesCan'tCatchMe]

Hey Folks I recently opened my hdfc account 2 months ago savings max and maintained the balance over 60k the main reason I opened is for credit card , Today I got a call from employee saying that If I deposit 50k over the sweep-in FD, I will get the offer for credit card is it true ? Also they mentioned there is no Lock-in period for sweep based FD , So whats the catch?

He's just completing his target. Don't listen to him. Use your debit card and wait for a pre approved offer

 

[Cosmicgaze]

Hey Folks I recently opened my hdfc account 2 months ago savings max and maintained the balance over 60k the main reason I opened is for credit card , Today I got a call from employee saying that If I deposit 50k over the sweep-in FD, I will get the offer for credit card is it true ? Also they mentioned there is no Lock-in period for sweep based FD , So whats the catch?

There’s no lock in period.
When the savings balance goes over 1lakh the amount over a lakh will be swept into a fixed deposit automatically. You will earn interest on that. Say you got a payment of 2lakhs and currently have 50k, 1.5l will be put into fd. 1lakh will remain balance in your savings account. If you need to spend 2lakhs the excess will come from the fd without you needing to do anything there won’t be a delay either if you swipe your debit card or transfer.

They will offer a card irrespective. From my experience with hdfc they keep trying to sell products especially if you maintain good balance or a classic or preferred customer or above. Just make sure to keep a steady balance and if possible keep adding to it for few months you will get a pre approved offer. The more you keep the better a pre approved card variant will be. Else if you try to apply they will ask for documentation.

 

[nik007rock]

Don't opt for the auto Sweep in facility.
I have been runnng behing HDFC via twitter,customer care ,phone banking,branch visits but they are simply denying to deactive the auto sweep in facility.

 

[R@J]

wait for 2 to 3 minths, and when your inbox, sms, whatsapp filled with pre-approved offer you can easily get without documentation.

Don't hurry, and never opt credit card based on "keeping money in investments".

Agree. Better to wait than take a FD backed card. For SavingsMax, you'll get enough pre approved offers if maintaining decent balance

 

[Cosmicgaze]

Don't opt for the auto Sweep in facility.
I have been runnng behing HDFC via twitter,customer care ,phone banking,branch visits but they are simply denying to deactive the auto sweep in facility.

If you visit the branch they will give you a form to cancel sweep in facility. It takes a couple of days though. Account won’t be changed

 

[nik007rock]

If you visit the branch they will give you a form to cancel sweep in facility. It takes a couple of days though. Account won’t be changed

strange for me they are denying anyways will go to another branch hopefully with knowledgeable staff

 

[Cosmicgaze]

strange for me they are denying anyways will go to another branch hopefully with knowledgeable staff

If you have a Rm speak to them, tell them there’s a form to opt out of sweep in facility. If they deny say that quiet a few have done it.
If still the same then ask them for closure form would transfer to another bank.
But make sure to go the branch your account is in preferably.

 

[Kartik155555]

Yes , you can go to any branch of hdfc n fill the form. They would cancel it. It happened the same with me but I got it changed this way .

strange for me they are denying anyways will go to another branch hopefully with knowledgeable staff

 

[Kartik155555]

If you have a Rm speak to them, tell them there’s a form to opt out of sweep in facility. If they deny say that quiet a few have done it.
If still the same then ask them for closure form would transfer to another bank.
But make sure to go the branch your account is in preferably.

Idk about the form, i just wrote one application on white page signed it and gave basic details n after two days it was shut.

 

[Kartik155555]

After reading everything, 😂 i'm thinking that my experience was bizzare,

 

[Cosmicgaze]

Idk about the form, i just wrote one application on white page signed it and gave basic details n after two days it was shut.

Now that you mention it, I think I had done this same written down an application form. Thankfully did not need to post it to chennai 😂