HDFC Max Saving or HDFC Senior Citizen account for parents?

[ramandeep]

HI, I am thinking of shifting my parents account, who are senior citizen to hdfc bank, which account should i opt max saving or senior citizen, i wanted to go with max saving but have a concern that if they make a fd will they get interest of senior citizen or not, else they have to go with senior citizen account for fd interest of senior citizen?

 

[thekirang]

HI, I am thinking of shifting my parents account, who are senior citizen to hdfc bank, which account should i opt max saving or senior citizen, i wanted to go with max saving but have a concern that if they make a fd will they get interest of senior citizen or not, else they have to go with senior citizen account for fd interest of senior citizen?

+1 . same query

 

[ramandeep]

anyone?

 

[ramandeep]

@TechnoFino do you any thoughts on it?

 

[NOOBY]

HI, I am thinking of shifting my parents account, who are senior citizen to hdfc bank, which account should i opt max saving or senior citizen, i wanted to go with max saving but have a concern that if they make a fd will they get interest of senior citizen or not, else they have to go with senior citizen account for fd interest of senior citizen?

if you have branch number, you can ask them directly regarding this query, it might give you a complete scenario

they might have some T&C or, they might have a Max Saving+Senior Citizen acc too, you never know

 

[ramandeep]

if you have branch number, you can ask them directly regarding this query, it might give you a complete scenario

they might have some T&C or, they might have a Max Saving+Senior Citizen acc too, you never know

I don't trust branch people, they only provide information which benefits them, there has been two instances earlier like, i asked for moneyback debit card they said only available for corporate people which isn't true and now i have it, also other time i asked for classic account, they told you need to have two other family relation account to upgrade to classic, though i have maintained balance in my account, so just for extra accounts to open they are forcing me.

 

[NOOBY]

I don't trust branch people, they only provide information which benefits them, there has been two instances earlier like, i asked for moneyback debit card they said only available for corporate people which isn't true and now i have it, also other time i asked for classic account, they told you need to have two other family relation account to upgrade to classic, though i have maintained balance in my account, so just for extra accounts to open they are forcing me.

aah, understood...

then lets wait for someone else to reply, as seniors at my home have accounts only in SBI 🤣

 

[TheMentalist]

HI, I am thinking of shifting my parents account, who are senior citizen to hdfc bank, which account should i opt max saving or senior citizen, i wanted to go with max saving but have a concern that if they make a fd will they get interest of senior citizen or not, else they have to go with senior citizen account for fd interest of senior citizen?

are you referring to Auto-Sweep FD or manual FD? I think manual FDs won't depend on the account type, but on the person registering the FD as nowhere the mention of requirement of any particular account variant is mentioned.

 

[TheMentalist]

are you referring to Auto-Sweep FD or manual FD? I think manual FDs won't depend on the account type, but on the person registering the FD as nowhere the mention of requirement of any particular account variant is mentioned.

I just checked and it's showing 7.5% interest for 16 months FD in Savings Max account of my mother

 

[ramandeep]

I just checked and it's showing 7.5% interest for 16 months FD in Savings Max account of my mother

Your mother is senior citizen(above age 60) with saxing max account right? If its showing 7.5 interest rate then, she is getting interest rate of senior citizen. So, it will be better to have a max saving account rather than senior citizen account. Max have better benefits.

 

[ramandeep]

are you referring to Auto-Sweep FD or manual FD? I think manual FDs won't depend on the account type, but on the person registering the FD as nowhere the mention of requirement of any particular account variant is mentioned.

Manual fd

 

[TheMentalist]

Your mother is senior citizen(above age 60) with saxing max account right? If its showing 7.5 interest rate then, she is getting interest rate of senior citizen. So, it will be better to have a max saving account rather than senior citizen account. Max have better benefits.

Yes and Yes

 

[ramandeep]

Yes and Yes

thanx man great help