Upgrade Your HDFC Savings Account to HDFC Classic: Is It Worth It?

[varunsridharan]

In May 2018, I opened a HDFC savings account with a minimum monthly average balance requirement of 5,000 INR. Initially, I used this account for my day-to-day transactions, including bill payments and more.

However, since June 2022, I started using a credit card and shifted most of my transactions to it, resulting in a pause in my day-to-day activities with the savings account. Nevertheless, I still continue to receive and send money from this account via UPI on a daily or alternate-day basis.

Now, I am considering upgrading my account to HDFC Classic. Upon reviewing their eligibility criteria, I discovered that I need to maintain an average of 1 lakh per month. Currently, I have been maintaining this balance for approximately 10 days, and I will continue to do so until the 25th of June 2023.

I am curious if I will receive an automatic upgrade offer based on these circumstances. What would be the recommended course of action for me?

 

[varunsridharan]

Thanks for the information

Here are few questions

Let's say i maintain 1L for this month which mean 1L * 30 = 30L and will it average for this quarter?

Will they automatically downgrade?

 

[Testcc]

I don't think there is any relationship between classic account and CC. One of my friend's earlier had HDFC Classic account and was not using much for couple of years, so he downgraded it to normal account with basic Rupay Platinum debit card, as he was not maintaining AMB of 1 lakh. He never had HDFC cc earlier. He recently used his Rupay Platinum Debit Card on Airport lounges twice and was suddenly offered paid DCB.
I believe instead of classic, go for max account with AMB of 25000 and get Platinum Debit card free, which is really useful for 1%CB.

 

[varunsridharan]

I am not looking to upgrade my account for HDFC credit card

Instead i am looking to make my account 0 balance account

 

[scoryze]

Hi, It's been over a week since I've asked to link my mother's Women's savings account to my classic banking account with HDFC. How long does it take? Should I register a complaint?

 

[BVCBVC is verified member.]

Hi, It's been over a week since I've asked to link my mother's Women's savings account to my classic banking account with HDFC. How long does it take? Should I register a complaint?

No need. Because this week had 2 holidays. Eid & Saturday was holiday. HDFC and HDFC Bank are merging this month and many requests are on hold because all higher officials are busy on those works. Just give them some time they will do it, meanwhile if you want you can even register a complaint.

** Even many of my account related operations and issues are pending apart from transfers and transactions.

 

[scoryze]

No need. Because this week had 2 holidays. Eid & Saturday was holiday. HDFC and HDFC Bank are merging this month and many requests are on hold because all higher officials are busy on those works. Just give them some time they will do it, meanwhile if you want you can even register a complaint.

** Even many of my account related operations and issues are pending apart from transfers and transactions.

Thanks. I'll just wait for a week more I guess.

 

[beingmohit]

Does HDFC Classic Banking Programme include Family banking? Can a Classic account holder create 0 balance accounts for family members?

 

[BVCBVC is verified member.]

Does HDFC Classic Banking Programme include Family banking? Can a Classic account holder create 0 balance accounts for family members?

Yes up to 8 members for Privilege. I've heard my RM was talking to some other person in bank convincing he can add his family members and maintain 1L across the accounts.

 

[BVCBVC is verified member.]

 

[kishorvr]

So, this classic account, TRV must be 5 lakh. It says FD, SA, and CA. Can it also include mutual funds in Demat and others?

 

[BVCBVC is verified member.]

So, this classic account, TRV must be 5 lakh. It says FD, SA, and CA. Can it also include mutual funds in Demat and others?

I shared image of Privilege banking. This uploaded image is for classic banking.

 

[Tejo]

@varunsridharan you can upgrade to classic after upgrading you make 0 balance and zero charges for non maintainance.

But I advise to downgrade to basic ac rather than above process.

***Relationship effects.

 

[Rohith-2009]

@varunsridharan you can upgrade to classic after upgrading you make 0 balance and zero charges for non maintainance.

But I advise to downgrade to basic ac rather than above process.

***Relationship effects.

After upgrading to classic, do we have to maintain 1L?

 

[shutapdiya]

After upgrading to classic, do we have to maintain 1L?

Not mandatory

they dont downgrade generally