HDFC minimum balance

[Pollex]

Single FD of more than 1.5 lakhs needed...

So make a FD of 150001 for atleast a year and a day.

RM ka kaam h rona

Arey bhai 5L ki ek fd hai aur dusri 2.5L ki. For 1 yr and 1 month.

 

[Pollex]

Bas rona ya RR 👀

Mera RM toh hai hi R

 

[Cc_creditguy]

Hey
I opened a secondary bank account in hdfc for convenience, but it's annoying to maintain 10k MAB. Is there some way to bypass this or should I just close the account?
What's a good zero balance account other than SBI?

Bro u r salaried ri8 then opt for salary account in hdfc , if you don't mind u r salary plz , coz in hni banking programm u can get family banking program u can maintain others that balance, and then if it's like classic, prefered, imperia. Then u get free Dc

 

[Das.N]

In the website they are saying fd of 1L for 1 year 1 day is enough . Am I missing any information?

 

[Vasuki]

Thanks but I don't think I'll be eligible for digiyouth, will turn 26 soon. I also don't use the millenia DC at all. Will probably get a decent cashback credit card now that I have a 780 CIBIL score. I want to start relation with Axis since I plan to travel a lot and Axis Atlas seems really lucrative with the good rewards and international lounge access shared to guests. I also like their Kwik card.

Is there really any drawback to closing the hdfc account?

If you don't want to try that's your way .
Cibil score is different .what's in cibil is the parameter
Try atlas - good 5 lakh spend card
Lounge through deam folks



Hdfc is good primary bank - what could be downside nothing but having it is not loss but profit. U can open again np

 

[sujal]

U can reduce your mab to 2500

U can transfer your branch to some rural branch online

Suggest some pincodes

 

[Vasuki]

Suggest some pincodes

Try your near by area

 

[cowcoconut]

Suggest some pincodes

Can search here to know if bank is semi urban, rural etc

DBIE

cimsdbie.rbi.org.in

 

[Avatar Aang]

IMO you can make HDFC your salary account. This will get rid of Minimum balance requirement and you have chance to get Regalia Gold which is one of the good cards as on date.
Your aim is Axis Atlas but i think after recent devaluation it's not going to be as lucrative as it was earlier.
Amex plat travel is also a good card for spends upto 4L. Although MB transfer provides the best value. The Amazon voucher redemption through 18K/24K is also a not bad option at 4% Reward rate.

 

[Sourabh_13]

In the website they are saying fd of 1L for 1 year 1 day is enough . Am I missing any information?View attachment 48749

You are right. For a regular savings account, it is 1L. 1.5L is for the Savings Max account.

 

[Sourabh_13]

If it is maintaining MAB in the regular savings account vs FD, then maintaining MAB is obviously a better option.

Even if one is going for FD, going for a FD of 1y1d duration is the bad choice.

Even if one books FD of 1L with the best interest rate of 7.25% pa (duration: 18+ months), he will earn ₹7250. While if the FD of same amount is booked in other bank like RBL/IDFC, an interest of around 8% pa can be earned, i.e, ₹8000.

That means, by having an FD with the best interest rate in HDFC, one looses ₹750.

Now by having a freedom of ₹10000 in FD in other bank with 8% pa interest, ₹800 can be earned in a year. While if that money sits in the savings account, only ~₹300 would be earned in a year.

That means, a loss of ₹500.

Hence, it is better to maintain MAB and not have an FD in a bank like HDFC. (Of course, I am factoring in the aspect of security. If protection of the captial is a concern, the FDs should be in banks like SBI/HDFC regardless)

 

[doraemon]

In the website they are saying fd of 1L for 1 year 1 day is enough . Am I missing any information?View attachment 48749

If u want to open fd
Transfer to rural branch open savings Max and do one lakh fd
This way your dc will also be free

 

[Cc_creditguy]

If u want to open fd
Transfer to rural branch open savings Max and do one lakh fd
This way your dc will also be free

Still it's a 25k Amb acc ri8 ??

 

[doraemon]

Suggest some pincodes

Open in my branch
Pm me I will share the address

 

[doraemon]

Still it's a 25k Amb acc ri8 ??

Nope.
Either u make one 1lac fd or maintain 25k mab
Either one

 

[doraemon]

Or If u guys want to maintain no mab and don't want to make fd as well
And want free dc
Then transfer to rural branch and deposit 1 lakh and upgrade to vishesh programme

 

[ritwik2000]

@DocFixIt will digiyouth get converted to 10k mab after 25 ?

 

[Vasuki]

@DocFixIt will digiyouth get converted to 10k mab after 25 ?

Entry age is 25 not exit

 

[cowcoconut]

IMO you can make HDFC your salary account. This will get rid of Minimum balance requirement and you have chance to get Regalia Gold which is one of the good cards as on date.
Your aim is Axis Atlas but i think after recent devaluation it's not going to be as lucrative as it was earlier.
Amex plat travel is also a good card for spends upto 4L. Although MB transfer provides the best value. The Amazon voucher redemption through 18K/24K is also a not bad option at 4% Reward rate.

Okay I'll consider this. I just saw the atlas devaluation, you get only 2500 when you get to gold tier.
Isn't atlas post-devaluation still better than regalia gold though? I only see accelerated rewards on some useless outlets like nykaa, myntra on regalia gold.

 

[Vasuki]

Okay I'll consider this. I just saw the atlas devaluation, you get only 2500 when you get to gold tier.
Isn't atlas post-devaluation still better than regalia gold though? I only see accelerated rewards on some useless outlets like nykaa, myntra on regalia gold.

Better for travel only
At 5 lakh spend

Check amex plat card too
Regalia best at 7.5 l spend