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Is it worth upgrading to HDFC Prime Banking from an HDFC SavingsMax account?

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abhikbose

abhikbose

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I have a SiavingMax account with HDFC Bank. Today, I received an SMS offer that I am eligible for a Prime banking upgrade. I am not sure what this upgrade will provide. I have the following doubts. Any expert advice on this will be helpful

1. What are the benefits of Prime Banking over the SavingsMax account?
2. I have a free Platinum debit card with SavingsMax. Will Prime also get a free debit card? Nothing is mentioned on the HDFC site.
3. For SavingsMax, the MAB requirement is 25k in savings or 1.5lakh in FD. For Prime, it is 35k in savings or 1lakh in FD. So, FD-wise, Prime is cheaper. If Prime is an upgrade from SavingsMax, most customers will choose Prime during an account opening. Why should someone choose SavingsMax instead of Prime while opening an account? [When I opened the account, I didn't know about Prime]
4. Any other benefits of prime? Shall I consider this upgrade?

Thank you in advance
 
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Solution
helloworld
HumorSimpson said:
What does this mean ?
Base is savingsmax + extra benefits of HNI
Click to expand...

  • Base Account = Amazon Normal Account (Signup and Shopping)
    • This is your basic account that you sign up for, allowing you to browse and shop on Amazon. It is always there and does not change.

  • HNI Program = Amazon Prime (which requires an Amazon Normal Account)
    • This is like a premium subscription (Amazon Prime) that adds extra benefits such as free shipping, Prime Video, and more.
    • You need the base Amazon account to have Prime.
    • If your Prime membership expires or you choose not to renew it, you go back to your normal Amazon account.
I hope its clear, tried my level best...
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HumorSimpson said:
no ..as i had some junk debit card. Only recently switched to millenia dc. Charges , not sure when they levy
Click to expand...

I believe mostly urs still salary, and hence they don't want to downgrade. Because salary is high category in base account. If you didn't receive any charges for SMS then its salary, because 10k has some sms charges quarterly or IMPS charges also there if not salary.

Salary = SavingsMax = Classic = Preferred = Imperia.
 
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helloworld said:
I believe mostly urs still salary, and hence they don't want to downgrade. Because salary is high category in base account. If you didn't receive any charges for SMS then its salary, because 10k has some sms charges quarterly or IMPS charges also there if not salary.

Salary = SavingsMax = Classic = Preferred = Imperia.
Click to expand...
Account details show 10k minimum balance required
 
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helloworld said:
thats normal message, its still tagged as salary if no charges for IMPS, SMS etc. and no debit card annual fee.

IMPS: <1000, they'll charge 4rs. apprx for regular to classic accounts. Only salary, preferred, imperia exception.
Click to expand...
OK. IMPS never used as it is not my primary account. It's been 3 months since I got the Millenia DC and no charges yet. Is it safe to assume it's salary account?
 
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helloworld said:

Prime Premier Banking - All You Need to Know | HDFC Bank

Experience the best of both worlds with Prime Premier Banking. Enjoy premium benefits, personalized services, and expert financial guidance tailored to your unique needs.
www.hdfcbank.com www.hdfcbank.com



Prime Premier Banking - All You Need to Know | HDFC Bank duplicate duplicate

Experience the best of both worlds with Prime Premier Banking. Enjoy premium benefits, personalized services, and expert financial guidance tailored to your unique needs.
www.hdfcbank.com www.hdfcbank.com

"All other charges/fees not listed above will be applicable as per the respective base product variant held by the customer"



SavingsMax is account variant, Prime is the HNI program (Other HNI Programs, Classic, Preferred, Imperia etc.). If anything happens with downgrade or upgrades, base account variant will be same always.

Savings Accounts (Your BASE always): https://www.hdfcbank.com/personal/save/accounts/savings-accounts
HNI Programs (Changes as per balance): https://www.hdfcbank.com/personal/save/high-networth-banking/premier-banking



Prime

v.hdfcbank.com v.hdfcbank.com
Click to expand...
I just applied for Prime banking. Can I check whether I am currently in the Prime banking program online or over the phone?
 
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HumorSimpson said:
OK. IMPS never used as it is not my primary account. It's been 3 months since I got the Millenia DC and no charges yet. Is it safe to assume it's salary account?
Click to expand...

@knight any idea how to check currently account salary or not without involving humans at the branch or backend (to avoid correction)?

112 - product code usually means salary, checking if any changes in it.
 
Last edited:
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helloworld said:
I believe mostly urs still salary, and hence they don't want to downgrade. Because salary is high category in base account. If you didn't receive any charges for SMS then its salary, because 10k has some sms charges quarterly or IMPS charges also there if not salary.

Salary = SavingsMax = Classic = Preferred = Imperia.
Click to expand...
just now downloaded the statement and did notice they levied sms charges. statement shows regular savings account. will try to upgrade to savings max .
 
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helloworld said:
till you lost the prime status, no need (no additional benefit to switch savings account type). Once you lost the status and back to regular savings account, can switch to 'savingsmax'.

for now, your charges and benefits are as per 'prime' status even if you switched to 'savingsmax'.
Click to expand...
Savingsmax AMB is 25K but prime is 35K. I will maintain less than 30K and see what happens.
 
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HumorSimpson said:
Savingsmax AMB is 25K but prime is 35K. I will maintain less than 30K and see what happens.
Click to expand...

If upgraded to prime atleast 1 quarter, you won't be charged.

2nd quarter they'll check and if needed remind you to maintain balance in mail, then after that mail + 30 days you;ll be back to your account.

^whenever that mail comes (2nd quarter or after 1 year or never, its upto branch).
 
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helloworld said:
If upgraded to prime atleast 1 quarter, you won't be charged.

2nd quarter they'll check and if needed remind you to maintain balance in mail, then after that mail + 30 days you;ll be back to your account.

^whenever that mail comes (2nd quarter or after 1 year or never, its upto branch).
Click to expand...
But prime is not clear on millenia DC charge
 
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