Which bank will give super premium card on LTF on 1.5cr initial deposit

[ankitfintech]

Hi I want to know which bank will offer their super premium credit card as LTF on deposit of 1.5cr for 6 months. Since I get the card as LTF, I should not worry about keeping the amount permanently.. Axis burgundy private as FYF? ICICI Emeralde LTF? Axis reserve as LTF? Others?

Background - I have sold shares of my company in Nasdaq and I have received approx 1.5cr amount which is currently parked as cash in US brokerage account. I can park this money in Indian Bank for around 6 months after which I need to use the same amount for purchasing residential property or deposit the money in CAGS bank account for avoiding taxes..

 

[ankitfintech]

To start with,
You can keep 1 cr with ICICI just for a week or until your Emeralde LTF is granted , that could be 1 or 2 days..

What are the chances of getting this? Do you know someone who has negotiated for this?

 

[ankitfintech]

True.

But even if annual fees is charged by Infinia, they give RP equal to fees on renewal too.

So good deal to take . Only loss is GST.

Yeah sure I will try for infinia LTF . The only problem I see is that I had got HDFC DCB in June and so I would have to probably wait for 6 months before applying in HDFC, correct?

 

[ankitfintech]

My goodness tum log kaise seh lete ho bhaii ye sab? Mera 1cr nrv ho maii literally aise smjhu ki bank meraa apna haii and hdfc haii agar to infinia+dcb+millenia+tata neu infinity teeno card ltf lu mai and this is not at all exxageratation maine isse bahut kam NRV me apne kaam krvaye hai

Not everybody has negotiation skills as good as yours

 

[SSV]

What are the chances of getting this? Do you know someone who has negotiated for this?

Very, very high chances.
I myself trying withva little bit less NRV, in a week or two , I will tell you.
Where are you based from in India?

 

[jack333]

To start with,
You can keep 1 cr with ICICI just for a week or until your Emeralde LTF is granted , that could be 1 or 2 days..

Official criteria is 2cr balance in account. Anything less than that is by negotiation only. Better do before account opening

 

[Bugs Bunny]

Not everybody has negotiation skills as good as yours

Bro I'm a poor negotiator, it's just I hit the right channels at the right time and tbh with 1cr in my account I'll get any damn thing from bank. Dad wanted to shift our limits and current accounts to ICICI and I've already negotiated emeralde ltf as of now for my dad and mom ( with nh cibil ) and got an assurance of emeralde private too

 

[PavanPavan is verified member.]

I have ITR OF 1CR -1.25Cr primarily due to shares offered by my company for the last 4 years with 60% coming from shares.. But ITR doesn't help in procuring premium cards as LTF as banks are primarily interested in their business. Salary in hand and initial deposit brings them business whereas ITR doesn't.

100% true especially FD

 

[0xfallup]

@anirban.choudhury inputs would be great in this and regarding mine suggestion ...open hdfc imperia go for hdfc infinia , open icici wealth select or private whatever option is there icici emeralde ,open highest privy league acc and get kotak white reserve , try stanc bank and open their acc and pre-negotiate ltf ultimate/or any lower variant... PRE-NEGOTIATE WITH EVERY BANK BEFOREHAND ..... you can also try for axis bank and get reserve / magnus ltf if BM of that branch is greedy he can do it ..... give a shot to indusind also and get their so called paid cards of 1L + ltf ... (would recommmend to get ltf premium card with everybank within this 6-8 months whatever span you have ...just keep huge amount for 1.5 months and start shifting to other bank slowly slowly to get their card... Go to war with every bank within this 8 months and get your shit done

 

[jack333]

@anirban.choudhury inputs would be great in this and regarding mine suggestion ...open hdfc imperia go for hdfc infinia , open icici wealth select or private whatever option is there icici emeralde ,open highest privy league acc and get kotak white reserve , try stanc bank and open their acc and pre-negotiate ltf ultimate/or any lower variant... PRE-NEGOTIATE WITH EVERY BANK BEFOREHAND ..... you can also try for axis bank and get reserve / magnus ltf if BM of that branch is greedy he can do it ..... give a shot to indusind also and get their so called paid cards of 1L + ltf ... (would recommmend to get ltf premium card with everybank within this 6-8 months whatever span you have ...just keep huge amount for 1.5 months and start shifting to other bank slowly slowly to get their card... Go to war with every bank within this 8 months and get your shit done

As per reward rate infinia is best. From next month most likely axis will also be giving magnus ltf to burgundy account holders with 10l balance also. So hdfc will also easily negotiate for LTF infinia from next month i think

 

[Bugs Bunny]

As per reward rate infinia is best. From next month most likely axis will also be giving magnus ltf to burgundy account holders with 10l balance also. So hdfc will also easily negotiate for LTF infinia from next month i think

1.5cr ke cheque pe vaise b easily mil jayega

 

[jack333]

1.5cr ke cheque pe vaise b easily mil jayega

Iske one third pe bhi easily mil jayega. Find some needy branch in tier 3 city

 

[ankitfintech]

Very, very high chances.
I myself trying withva little bit less NRV, in a week or two , I will tell you.
Where are you based from in India?

I realised one problem though.. I already have ICICI and Axis account.. Will it make a difference in negotiation if it's for opening the account or bringing the money into an existing account.. I know generally it makes a difference but the sheer amount may bring some exceptions.
I am based out of Nagpur due to WFH. Base location is pune..

Please update about how your negotiation happens. Do you have existing ICICI account?

 

[SSV]

I realised one problem though.. I already have ICICI and Axis account.. Will it make a difference in negotiation if it's for opening the account or bringing the money into an existing account.. I know generally it makes a difference but the sheer amount may bring some exceptions.
I am based out of Nagpur due to WFH. Base location is pune..

Please update about how your negotiation happens. Do you have existing ICICI account?

Yes I do have WM account .. I will update my outcome here...
I can also ask my RM if he can do any help.. I am based in Hyd.

 

[ankitfintech]

@anirban.choudhury inputs would be great in this and regarding mine suggestion ...open hdfc imperia go for hdfc infinia , open icici wealth select or private whatever option is there icici emeralde ,open highest privy league acc and get kotak white reserve , try stanc bank and open their acc and pre-negotiate ltf ultimate/or any lower variant... PRE-NEGOTIATE WITH EVERY BANK BEFOREHAND ..... you can also try for axis bank and get reserve / magnus ltf if BM of that branch is greedy he can do it ..... give a shot to indusind also and get their so called paid cards of 1L + ltf ... (would recommmend to get ltf premium card with everybank within this 6-8 months whatever span you have ...just keep huge amount for 1.5 months and start shifting to other bank slowly slowly to get their card... Go to war with every bank within this 8 months and get your shit done

I want to follow on the same path.. But I have one question.. Are there any side effects of opening 5-6 accounts from IT perspective and otherwise? The recurring amount of shift may create some IT Alerts specially due to the sheer amount involved.. I pay all my taxes and don't do any amount of jugaad to save taxes.. But still don't want to be under scrutiny.. Because even proving yourself as honest and right and fighting these IT folks can sap all your energy and negate the luxury of having these cards . So I want to be very selective and only apply where the benefits are really really good. Don't just want to hold LTF for collection purpose..

 

[jack333]

Transferring money from one account to other is not reported in AIS unless its in cash

 

[Bugs Bunny]

I want to follow on the same path.. But I have one question.. Are there any side effects of opening 5-6 accounts from IT perspective and otherwise? The recurring amount of shift may create some IT Alerts specially due to the sheer amount involved.. I pay all my taxes and don't do any amount of jugaad to save taxes.. But still don't want to be under scrutiny.. Because even proving yourself as honest and right and fighting these IT folks can sap all your energy and negate the luxury of having these cards . So I want to be very selective and only apply where the benefits are really really good. Don't just want to hold LTF for collection purpose..

That shouldn't be any problem it's just you are rotating your money in different accounts and IT guys can't do anything in this.

 

[SSV]

I want to follow on the same path.. But I have one question.. Are there any side effects of opening 5-6 accounts from IT perspective and otherwise? The recurring amount of shift may create some IT Alerts specially due to the sheer amount involved.. I pay all my taxes and don't do any amount of jugaad to save taxes.. But still don't want to be under scrutiny.. Because even proving yourself as honest and right and fighting these IT folks can sap all your energy and negate the luxury of having these cards . So I want to be very selective and only apply where the benefits are really really good. Don't just want to hold LTF for collection purpose..

as @0xfallup mentioned, you can try for multiple banks CCs with your sort of money within 6 months period..

Regarding IT notices , the trick here is don't open FD's. If you keep in SB accounts for some period, no worries at all...
The moment you open a FD with more than 10 lakhs , it goes into AIS and then IT may ask some questions..
So the trick here is keep the balance in SB account only, for banks also it is good as the cost is less when compared to FDs.

You can maintain number of SB accounts and transfer in and out of those accounts . This won't attract any unwanted attention from ITD

 

[0xfallup]

I want to follow on the same path.. But I have one question.. Are there any side effects of opening 5-6 accounts from IT perspective and otherwise? The recurring amount of shift may create some IT Alerts specially due to the sheer amount involved.. I pay all my taxes and don't do any amount of jugaad to save taxes.. But still don't want to be under scrutiny.. Because even proving yourself as honest and right and fighting these IT folks can sap all your energy and negate the luxury of having these cards . So I want to be very selective and only apply where the benefits are really really good. Don't just want to hold LTF for collection purpose..

bhai indian market is not suitable for 1-2 cards ...multiple chaiye if you want to extract juice seriously ... warna dont even bother to get a cc ...do directly easy life ... and i recommended so much because ek hi account mai 1.5 cr mat daalo ....chaiye toh ek saath 3 accounts open karo 50L each or 2 or 4 ...jaise bank k saath negotiation jaega but first start with 25L with everybank and then boli lagao kitna IP ka and do multiple acc ek saath ...6 months thoda dimag ka dahi hoga but its worth it ...start with hdfc

 

[0xfallup]

I realised one problem though.. I already have ICICI and Axis account.. Will it make a difference in negotiation if it's for opening the account or bringing the money into an existing account.. I know generally it makes a difference but the sheer amount may bring some exceptions.
I am based out of Nagpur due to WFH. Base location is pune..

Please update about how your negotiation happens. Do you have existing ICICI account?

new mai negotiation kafi easy honge ... drame karenge existing mai...so better go for new

 

[Rahul Gupta]

Are close karne ko thodi bol raha hoon. Bas BM se form mangna hai. Or open a new imperia account of someone else in family and pre negotiate for LTF infinia

Bro they ask for ITR and my itr is not enough for infinia and current credit limit on millennia is 2.4 lac.