HDFC Downgrade from Preferred to Standard.

[its_karan]

A little help is needed, friends.
I have four savings accounts under family banking with HDFC so 40k is struck, currently all in Preferred, each maintaining a balance of 10k with no extra funds, as all my money is invested in mutual funds.

Although I used to be a preferred customer, the bank recently sent me a mail notifying that they will downgrade all my accounts. I assume it to a standard category.

Right now no charges were being deducted as all accounts were Preferred category customer.

Now, they will downgrade so I have some Qs.

Purpose: Want to pay minimum to maintain these accounts in charges. I don't need anything from the Bank but hate unnecessary charges. Will be keeping 10k in each account.

1. What all charges will start applying after downgrade to Standard Account, other than Insta Alerts and AMB non-fulfilment, i'll close the account which is not essential?
2. If I opt for the popular EasyShop Visa Platinum Debit card or Millenia Debit card now, should I issue it now as the charges are reversed from Preferred Category and save the the annual fee, which is around 850/600 something for 1 year, or will they charge no matter what? Right now have a Easyshop Rupay card(The 200 one).

 

[Vasuki]

I have received my free locker today after escalating to Grievance team, first the branch near me asked for some investment which I denied and e-mailed the same to Grievance team and the branch called me and allotted the locker. It's a new branch which is six months old so the lockers are available and the lucky part is it's only 100mtrs away from my place..

No hdfc manager Ulip selling plans were destroyed by this move

 

[HumorSimpson]

Wtf? I got the same email. I thought my BM did it deliberately as I had some altercation with him.

😆He is digging his own grave ⚰️
Vakeel sey bachna mushkill.

 

[Bugs Bunny]

😆He is digging his own grave ⚰️
Vakeel sey bachna mushkill.

Kyu pange lene aise BM also wants the bonus na

 

[stech18]

I have received my free locker today after escalating to Grievance team, first the branch near me asked for some investment which I denied and e-mailed the same to Grievance team and the branch called me and allotted the locker. It's a new branch which is six months old so the lockers are available and the lucky part is it's only 100mtrs away from my place..

Even my branch is asking for same. Which email did you use to raise complain?

 

[Vasuki]

Even my branch is asking for same. Which email did you use to raise complain?

Complaint on x .
They will send u link with complaint number.
Write it all there.
This works well bcz untill marked solved BM get notification from regional head branch in hdfc

 

[hackymanoj]

Even my branch is asking for same. Which email did you use to raise complain?

Yes, I have raised this on X.

 

[SSV]

It seems amusing and congratulations

Thank you

I want to upgrade to Infinia LTF.
IS IT POSSIBLE??

NO

 

[helloworld]

Any IDFC, Kotak and IndusInd downgrade stories..?

So far ((just incase)

- ICICI downgrades their wealth account to 25k
- HDFC to standard or savingsmax (depends on earlier variant)
- Axis auto triggers mostly

 

[Vasuki]

thank you for the prompt reply.. Then the only way left to get Infinia is through ULIP ... please suggest which ULIP(amount and tenure) you did and in case which card shall I convert among Regalia Millenia or Tata Nue Infinity if I get any offer to upgrade through my RM?

is it possible to flip the regalia if I open ulip for infinia?

thank you in advance.

Talk to Rm for L.e & then try getting lower spend based limit increase for infinia .
He did 2.5 lakh ulip i guess
Ofc regalia to infinia

 

[_ayush]

On downgrade from preferred, will it become Classic or normal savings max?

 

[Vasuki]

On downgrade from preferred, will it become Classic or normal savings max?

Depends .
On money maintained

Did u get downgraded?

 

[_ayush]

Depends .
On money maintained

Did u get downgraded?

Got a mail saying it will be downgraded from preferred on 20th march if balance not maintained

 

[Vasuki]

Got a mail saying it will be downgraded from preferred on 20th march if balance not maintained

How much do u plan on maintaining. For future.
Tell ur rm for Classic banking


Is this your first quarter post enrollment into Preferred.

 

[_ayush]

How much do u plan on maintaining. For future.
Tell ur rm for Classic banking


Is this your first quarter post enrollment into Preferred.

Rm is saying that its out of his control. I have had preferred account since last 1.5yrs.

I can maintain 1L in savings + 2L FD but just not in this month.

Does the RM trigger downgrade? I feel like he's doing it on purpose because I filed a complaint against him.
Also my father's account got a mail regarding downgrade as well.

 

[varun__goel_]

Rm is saying that its out of his control. I have had preferred account since last 1.5yrs.

Does the RM trigger downgrade? I feel like he's doing it on purpose because I filed a complaint against him.

Actually no RM is not involved. I also thought the same.

But a mass communication has been released yesterday. Some have been warned(including me) and some have been downgraded directly

 

[_ayush]

Actually no RM is not involved. I also thought the same.

But a mass communication has been released yesterday. Some have been warned(including me and some have been downgraded directly

Oh okay. I thought he was acting dumb on purpose. Turns out he's just another RM.

 

[Vasuki]

Oh okay. I thought he was acting dumb on purpose. Turns out he's just another RM.

If downgrade happens let it be .
You can enroll next day

 

[_ayush]

If downgrade happens let it be .
You can enroll next day

Any approval is required?

 

[Vasuki]

Any approval is required?

Rm would request

 

[Vasuki]

Rm would request

Mine call for fd day night