HDFC Savings Max

[mut142]

Hey guys,

So I had a Normal Savings Account with HDFC for the past one year and recently decided to Change the Account type to Savings Max. I did this procedure online on 12.08 and on 13.08 I received an Email stating that the Change of Account Type was Successful, but the AMB is till this point 10,000.
I contacted HDFC today morning via Phone and they Confirmed that the Account type Change was Successful and the AMB is still 10,000.

Do you guys know why this is the Case? Do I qualify for some other Offer of some sort?
P.S. Got an Email last week for Upgrade to Preferred Banking and I accepted it, but I think this has nothing to do with my Account Type

 

[6ix9ine]

So, when you log into the net banking, do you see 'Preferred' on the left side under the HDFC Bank banner?

Also, how much balance are you maintaining in your account? I reckon, it's above 2L?

 

[mut142]

So, when you log into the net banking, do you see 'Preferred' on the left side under the HDFC Bank banner?

Also, how much balance are you maintaining in your account? I reckon, it's above 2L?

Yes, I see Preferred on the Left and No I qualify for Preferred Banking under the 4th Category Net Salary of 1.5L. But my issue is actually not about preferred, it is about the AMB shown online

 

[6ix9ine]

Yes, I see Preferred on the Left and No I qualify for Preferred Banking under the 4th Category Net Salary of 1.5L. But my issue is actually not about preferred, it is about the AMB shown online

Yes, let me explain.

The MAB for the Savings Max account is ₹25,000. However, since you've already upgraded to Preferred Banking and your salary is credited to this account, the MAB requirement is currently not a concern for you.

But, let’s consider a scenario where you decide to move your salary account to a different bank.

In this case:
After a few months, HDFC will downgrade your account from Preferred Banking to a Savings Max account. The AMB shown might be due to a technical glitch on their end, but the idea that the MAB requirement is only ₹10,000 is not true.

For a Savings Max account, there are two ways to maintain it:
- Maintain a AMB of ₹25,000/-
OR
- Have a FD Relationship of ₹1.5L in Metro/ Urban location

You can refer to this brochure, it has pretty much everything:

https://www.hdfcbank.com/content/bbp/repositories/723fb80a-2dde-42a3-9793-7ae1be57c87f/?path=/Common/pdf/service-fees-July-2023-28-07-23.pdf