hdfc - difference between salary and nonsalary account for preferred tier

[ltf4ever]

i get my salary in hdfc account, but I have not converted it into a 'salary account'.

i have preferred tier savings max account.

does it matter if i convert it to salary account or not?

if I did not have a preferred tier, would it have made any difference, apart from 0 balance?

 

[Darthvader]

To get Converted to Salary account , your company/ employer needs to have a relationship with HDFC. Only if they have tie ups it can be done.

Only big difference is 0 balance account and some offers for CC after 6 months of healthy salary which you would miss on savings max.

 

[ltf4ever]

To get Converted to Salary account , your company/ employer needs to have a relationship with HDFC. Only if they have tie ups it can be done.

Only big difference is 0 balance account and some offers for CC after 6 months of healthy salary which you would miss on savings max.

thanks.
i didn't know about the tie up thing. i thought as long as there is regular monthly 'salary credit' transactions, it can be converted.

 

[coinhunter]

Is it okay if the salary comes to a Savings account? That is my current setup. I wasn't aware of this since its my first time working here in India.

 

[ltf4ever]

Is it okay if the salary comes to a Savings account? That is my current setup. I wasn't aware of this since its my first time working here in India.

yes.
not sure of your question, but a 'salary account' is a type of savings account only. just that it can be designated as a salary account if there is tie up and regular salary credit, to get some benefits.

 

[coinhunter]

yes.
not sure of your question, but a 'salary account' is a type of savings account only. just that it can be designated as a salary account if there is tie up and regular salary credit, to get some benefits.

My question is basically if it is okay not to have a separate salary account just for the sake of salary. I noticed that almost all of my workmates have a "salary account" and I do not have one.

 

[ltf4ever]

My question is basically if it is okay not to have a separate salary account just for the sake of salary. I noticed that almost all of my workmates have a "salary account" and I do not have one.

yup...i don't have a salary account. just a normal savings account where my salary gets credited.
it is up to you whether or not you want to get it converted into salary account just like your workmates, to get some offers from the bank.

 

[coinhunter]

yup...i don't have a salary account. just a normal savings account where my salary gets credited.
it is up to you whether or not you want to get it converted into salary account just like your workmates, to get some offers from the bank.

Thanks for clarifying. No, I do not want a separate account for my salary. I already have two accounts, and that is enough.

 

[kjs]

What is the salary credit reqd for hdfc preferred ?

 

[Shrinit Padwal]

What is the salary credit reqd for hdfc preferred ?

1.5 lac monthly

 

[kjs]

1.5 lac monthly

Which is better ..hdfc preferred vs icici (some variant) vs axis priority or any other ? w.r.t salary account

 

[Chaitanya-a]

Which is better ..hdfc preferred vs icici (some variant) vs axis priority or any other ? w.r.t salary account

Depends on what you want from bank in return.

HDFC has nothing to offer in its relationship program. Neither products nor service.

ICICI has good services but bad product catalogue. Good for keeping peace of mind.

Axis has good products to offer but bad services. Good for getting access to Axis products exclusively.

 

[Alex292929]

HDFC has nothing to offer in its relationship program. Neither products nor service.

😂 true

 

[kjs]

Depends on what you want from bank in return.

HDFC has nothing to offer in its relationship program. Neither products nor service.

ICICI has good services but bad product catalogue. Good for keeping peace of mind.

Axis has good products to offer but bad services. Good for getting access to Axis products exclusively.

I am personally using ICICI , service wise its good..but offering wise not so good..they are not able to provide family 0; balance with salary account inspite of fact that its clearly mentioned on their website..upon enquiry at branch they denied upfront.also there is no clarity on the account variant they have provided ..there is a lot of discrepancy what branch is telling and what Customer care is telling..Branch service is pathetic , also no better credit or debit cards..So I was thinking to switch back to HDFC.. However HDFC was my old sal account .. currently its still 0 balance and easy shop platinum debit card ia still free..and evn RM is decent..never sells ULIPS , MF or shitty schemes..

Axis priority had used ..but was tired of RM , always called as salesman ..so closed ..also theye did not provide home loan or PL processing fee waiver off or discount..holded this account for 2 yrs..

SALARY ACCOUNT HOLDING DURATION
2013-2020 - Hdfc
2020-2022 - Axis
Present - ICICI

Any other better from above 3 can also be suggested..I will check if tie up available

 

[Chaitanya-a]

I am personally using ICICI , service wise its good..but offering wise not so good..they are not able to provide family 0; balance with salary account inspite of fact that its clearly mentioned on their website..upon enquiry at branch they denied upfront.also there is no clarity on the account variant they have provided ..there is a lot of discrepancy what branch is telling and what Customer care is telling..Branch service is pathetic , also no better credit or debit cards..So I was thinking to switch back to HDFC.. However HDFC was my old sal account .. currently its still 0 balance and easy shop platinum debit card ia still free..and evn RM is decent..never sells ULIPS , MF or shitty schemes..

Axis priority had used ..but was tired of RM , always called as salesman ..so closed ..also theye did not provide home loan or PL processing fee waiver off or discount..holded this account for 2 yrs..

SALARY ACCOUNT HOLDING DURATION
2013-2020 - Hdfc
2020-2022 - Axis
Present - ICICI

Any other better from above 3 can also be suggested..I will check if tie up available

Axis is good for either Burgundy or Liberty customers. Burgundy ones are getting good services as well as products whereas Liberty ones are getting compensated by low salary requirement criteria and good debit card.

I haven't heard anything good about Priority account.

In your case if you just need peace of mind and no products then keep HDFC. Or try IDFC First bank if their offerings are lucrative enough for you.

 

[kjs]

Axis is good for either Burgundy or Liberty customers. Burgundy ones are getting good services as well as products whereas Liberty ones are getting compensated by low salary requirement criteria and good debit card.

I haven't heard anything good about Priority account.

In your case if you just need peace of mind and no products then keep HDFC. Or try IDFC First bank if their offerings are lucrative enough for you.

Yes , sure .. I think I will go with HDFC this time .. keep ICICI as normal savings account..atleast with HDFC things are clearly mentioned related to the salary account variants & eligibility . Also they would happily provide 0 balance account to family members of sal account holders.. ICICI branch completely disagreed to open 0 balance account for family members of sal account holders inspite of proof shown on website. When checked with CC they also denied until i sent them a snapshot of what is written on website.

 

[Tejo]

i get my salary in hdfc account, but I have not converted it into a 'salary account'.

i have preferred tier savings max account.

does it matter if i convert it to salary account or not?

if I did not have a preferred tier, would it have made any difference, apart from 0 balance?

If you converted your ac to salary. You can get pre-approved offers like creditcard and home loans etc.

Zero maintainance, several fee will waived off. Unlike regular savings ac where minimum balance need to be maintained for premium service.

Also showing payslip you can convert your account to salary account.

 

[Alex292929]

Also showing payslip you can convert your account to salary account.

Co. tie up with bank is compulsory in all the cases right?

 

[Tejo]

Co. tie up with bank is compulsory in all the cases right?

Nope.

Tie up > more offers, Premium salary account.

Via salary slip means depending on salary, account variant will be issued.