HDFC Preferred Banking for Free

[aravind]

Hello Everyone,

I got a mail to upgrade my HDFC bank salary account (Standard Account) to Preferred Banking for free. Not sure if there will be any charges involved post upgrade.

For information, I have this account as Salary account for more than 5 years, do not have any FD's with HDFC running, hold 2 credit cards (Regalia First and Tata Neu Infinity with 7.5 lakhs limit shared and bare minimal usage) and a running home loan with HDFC.

My salary credit is also less than 1.5 lakhs which is also an eligibility criteria for Preferred Banking. Please provide your suggestions on if I should opt for this or leave it. Thanks!

 

[Tosh]

Opt, hdfc don't levy any charges worst case is a downgrade. Others please correct me if this is wrong.

 

[Heehaahee]

Your savings balance is more than 2L, which also fulfills the criteria..

 

[emadiqbalali]

I am in preferred from last 10 months. I haven't been downgraded so far. My balance doesn't fulfil the criteria as well. I had some huge payments in the beginning that might have triggered this offer and I opted it.

 

[technom]

I've had preferred banking for several years now and AMB requirement shows as 10k.
I don't know when & why they upgraded. Don't recall exactly except that they assigned a RM several years ago (don't know the exact year but at least since 2016). Also got Regalia LTF at around the same time from what I recall. Used to spend consistently 30-40k average on HDFC CC back in those days but moved to other cards for better rewards since 2018-19.
I was maintaining balance of 1-2L or even more for shorter times back then but don't keep anymore than 10k after 2019-20.
They did not downgrade or levy any penalty as such on the account itself but did charge DC renewal fees for basic EasyShop card.

 

[technom]

I've had preferred banking for several years now and AMB requirement shows as 10k.
I don't know when & why they upgraded. Don't recall exactly except that they assigned a RM several years ago (don't know the exact year but at least since 2016). Also got Regalia LTF at around the same time from what I recall. Used to spend consistently 30-40k average on HDFC CC back in those days but moved to other cards for better rewards since 2018-19.
I was maintaining balance of 1-2L or even more for shorter times back then but don't keep anymore than 10k after 2019-20.
They did not downgrade or levy any penalty as such on the account itself but did charge DC renewal fees for basic EasyShop card. I also noticed charges for IMPS transactions, which is pretty odd given that most other competitors don't charge for it. NEFT and UPI has always been free

 

[Wealth is my birth right!]

Hello Everyone,

I got a mail to upgrade my HDFC bank salary account (Standard Account) to Preferred Banking for free. Not sure if there will be any charges involved post upgrade.

For information, I have this account as Salary account for more than 5 years, do not have any FD's with HDFC running, hold 2 credit cards (Regalia First and Tata Neu Infinity with 7.5 lakhs limit shared and bare minimal usage) and a running home loan with HDFC.

My salary credit is also less than 1.5 lakhs which is also an eligibility criteria for Preferred Banking. Please provide your suggestions on if I should opt for this or leave it. Thanks!

Upgrade it no harm
They won’t downgrade easily

 

[aravind]

Thanks all for the response! I have placed a request for upgrade now. I do not maintain even 50k in my account now (that too for the emi) but yes, I was maintaining more 15 lakhs earlier in the year for 2 months and did few high value transactions when I purchased a new home. That might have triggerred this upgrade.

 

[saucy]

I am in preferred from last 10 months. I haven't been downgraded so far. My balance doesn't fulfil the criteria as well. I had some huge payments in the beginning that might have triggered this offer and I opted it.

In case of a non salary preferred account - do they deduct charges if AMB is not maintained?


I don't have a salary account with HDFC but am maintaining 2L amb - yet no offers.for account upgrade.

 

[saucy]

Is

I've had preferred banking for several years now and AMB requirement shows as 10k.
I don't know when & why they upgraded. Don't recall exactly except that they assigned a RM several years ago (don't know the exact year but at least since 2016). Also got Regalia LTF at around the same time from what I recall. Used to spend consistently 30-40k average on HDFC CC back in those days but moved to other cards for better rewards since 2018-19.
I was maintaining balance of 1-2L or even more for shorter times back then but don't keep anymore than 10k after 2019-20.
They did not downgrade or levy any penalty as such on the account itself but did charge DC renewal fees for basic EasyShop card. I also noticed charges for IMPS transactions, which is pretty odd given that most other competitors don't charge for it. NEFT and UPI has always been free

Is it a salary account?

 

[Chaitanya-a]

In case of a non salary preferred account - do they deduct charges if AMB is not maintained?


I don't have a salary account with HDFC but am maintaining 2L amb - yet no offers.for account upgrade.

There are no charges for non maintenance in HDFC privilege banking program.

 

[emadiqbalali]

In case of a non salary preferred account - do they deduct charges if AMB is not maintained?


I don't have a salary account with HDFC but am maintaining 2L amb - yet no offers.for account upgrade.

I don't know what exactly triggers this offer centrally but in my case it was when I was very new to bank. When you are NTB, HDFC is very keen on keeping you as their customer for long and will offer you more stuff than compared to older accounts. As I was NTB, I had received a payment of over 3L and few weeks later I got an email stating to join privilege banking.

 

[Raviteja]

How many days it took to convert standard to preferred banking.. And is new debit card delivered? @aravind