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..

 

[Bugs Bunny]

Found it on HDFC Millennia Envelope 🙂.

bhaii haii muthi me provided we have good nrv. Before I joined the community I was unaware banks me kaise ite ite paise rehte the and even the BM used to call me/my dad for funds/insurances/polices and we used to oblige. For instance - We had majority of our business with axis and papa ke account me approximate nrv was 1.5-2.5cr and he had a privilege account and manager used to say yo my dad ki best account hai apka and I never paid any heed towards it. Ab to aapko ptaa hi haii kyaa kia hoga us BM ka 😂

 

[ask10]

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..

You can try for Axis Reserve by opening a Burgundy Private Account with 1cr cheque. You will also get an Axis One Card which will give you 30k bonus reward points. The card will be chargeable at 50k+GST if you loose Burgundy Private status, you can use that card for first year for free and the close it if you are not able to maintain Burgundy Private status.

 

[jack333]

Wohi toh maine bola 🤣

Bhai tum bhi arindam ki tarah kab se ghumane lag gaye 🤣

 

[hariharan]

You can try for Axis Reserve by opening a Burgundy Private Account with 1cr cheque. You will also get an Axis One Card which will give you 30k bonus reward points. The card will be chargeable at 50k+GST if you loose Burgundy Private status, you can use that card for first year for free and the close it if you are not able to maintain Burgundy Private status.

IMO, having 1 Cr in your savings account or FD is an absolute sin unless you are elderly and looking for a very safe instrument. You could easily pay for these cards (and their benefits) and save more if you have this amount invested in an instrument that offers decent returns.

 

[InquisitiveWhiz]

Hi all. Do not wanted to create a separate thread, so apologies in advance for hijacking this thread.

I will be receiving about 50 Lakhs on sale of a property and will be opening a short term FD (6-12 months) with that money with the intention of reinvesting the money in purchasing other property. I will also be needing a home loan of about 1cr when purchasing the property. With the business that I will providing to the bank in next 6 months or so, I was thinking of to get a super premium card (unsecured). Already have 5 year old AXIS burgundy account with Select CC LTF. May get upgraded to Magnus post 1st Sep. Wife has a recently opened savings max account with HDFC used primarily for paying CC bills. She has a good cibil score but gets her salary(1lakh/month) credited to axis bank. We don't own any premium cards, do not fulfil any ITR/salary criteria, our CCs max CL is 2.5L and annual spend on CC is 12Lakhs approx.

Is it possible to get HDFC premium cards like DCB/Infinia as 1st HDFC CC. I am more inclined for Infinia if possible, even with the annual charges as I can easily recover them with my spendings on travel, shopping and dining. Do not want card against FD as the FD will be short term. Any suggestions from members on how to proceed or just dismiss this as one of my many daydreaming thoughts .

 

[jack333]

Hi all. Do not wanted to create a separate thread, so apologies in advance for hijacking this thread.

I will be receiving about 50 Lakhs on sale of a property and will be opening a short term FD (6-12 months) with that money with the intention of reinvesting the money in purchasing other property. I will also be needing a home loan of about 1cr when purchasing the property. With the business that I will providing to the bank in next 6 months or so, I was thinking of to get a super premium card (unsecured). Already have 5 year old AXIS burgundy account with Select CC LTF. May get upgraded to Magnus post 1st Sep. Wife has a recently opened savings max account with HDFC used primarily for paying CC bills. She has a good cibil score but gets her salary(1lakh/month) credited to axis bank. We don't own any premium cards, do not fulfil any ITR/salary criteria, our CCs max CL is 2.5L and annual spend on CC is 12Lakhs approx.

Is it possible to get HDFC premium cards like DCB/Infinia as 1st HDFC CC. I am more inclined for Infinia if possible, even with the annual charges as I can easily recover them with my spendings on travel, shopping and dining. Do not want card against FD as the FD will be short term. Any suggestions from members on how to proceed or just dismiss this as one of my many daydreaming thoughts .

Try negotiating for infinia ltf or burgundy private LTF. Remember negotiation can only be done before hand and record the conversation

 

[alphadark7]

Try IndusInd Pionner account while negotiating for IndusInd Pioneer Heritage Metal card

 

[InquisitiveWhiz]

Try negotiating for infinia ltf or burgundy private LTF. Remember negotiation can only be done before hand and record the conversation

My only concern are the false promises made by the bank's RM/BM before the opening of FD/loan and once they get the business, they will be least concerned. Hoping I do not end up with Millenia or worse Moneyback CC, as experienced by some members in the forum.

 

[alphadark7]

My only concern are the false promises made by the bank's RM/BM before the opening of FD/loan and once they get the business, they will be least concerned. Hoping I do not end up with Millenia or worse Moneyback CC, as experienced by some members in the forum.

Get it in writing, as simple as that, if you are giving them something and they confirm something, ask them to give it in writing on an email or on paper

 

[InquisitiveWhiz]

Get it in writing, as simple as that, if you are giving them something and they confirm something, ask them to give it in writing on an email or on paper

Do bank RM/BM give that in writing? I had a hard time convincing my axis bank BM for LTF Select CC even after having a burgundy account. It seems the whole banking customer experience is going down the drain across all banks.

 

[harshit_agrawal]

bhaii haii muthi me provided we have good nrv. Before I joined the community I was unaware banks me kaise ite ite paise rehte the and even the BM used to call me/my dad for funds/insurances/polices and we used to oblige. For instance - We had majority of our business with axis and papa ke account me approximate nrv was 1.5-2.5cr and he had a privilege account and manager used to say yo my dad ki best account hai apka and I never paid any heed towards it. Ab to aapko ptaa hi haii kyaa kia hoga us BM ka 😂

BM ko kacha chaba gaye hoge ab to aap

 

[alphadark7]

Do bank RM/BM give that in writing? I had a hard time convincing my axis bank BM for LTF Select CC even after having a burgundy account. It seems the whole banking customer experience is going down the drain across all banks.

Oh yes, else don't take it

 

[ankitfintech]

Try negotiating for infinia ltf or burgundy private LTF. Remember negotiation can only be done before hand and record the conversation

Has anyone got Burgundy private LTF by depositing some initial amount? Do you know any such case?

 

[Bugs Bunny]

You can never trust axis as you mentioned you will have the funds for a maximum of 6-8 months, the moment you take out your money it'll take axis 3-4 months to degrade your burgundy account and cc

Has anyone got Burgundy private LTF by depositing some initial amount? Do you know any such case?

 

[ankitfintech]

You can never trust axis as you mentioned you will have the funds for a maximum of 6-8 months, the moment you take out your money it'll take axis 3-4 months to degrade your burgundy account and cc

No harm in taking the risk... If I don't take the risk I won't get anything anyways right 😁

 

[Bugs Bunny]

No harm in taking the risk... If I don't take the risk I won't get anything anyways right 😁

But why take risks when you can get infinia ltf with this much initial cheque? With infinia you can be sure of it but not with axis

 

[InquisitiveWhiz]

But why take risks when you can get infinia ltf with this much initial cheque? With infinia you can be sure of it but not with axis

Hi @Jatin Mangla , did you get infinia LTF ? If yes , then for how much NRV and what was the negotiation/procedure like ?

 

[Bugs Bunny]

Hi @Jatin Mangla , did you get infinia LTF ? If yes , then for how much NRV and what was the negotiation/procedure like ?

Naah I have dcb that too fyf but it is implied that any BM would give infinia easily if we open an account with >1cr

 

[ankitfintech]

But why take risks when you can get infinia ltf with this much initial cheque? With infinia you can be sure of it but not with axis

I actually got DCB LTF In June this year so I would have to wait for 6 months before trying for Infinia. Also IMHO infinia is a great card and is even worthy even on paying annual fees.. Hence due to these reasons want to try with other bank first..

 

[0xfallup]

I actually got DCB LTF In June this year so I would have to wait for 6 months before trying for Infinia. Also IMHO infinia is a great card and is even worthy even on paying annual fees.. Hence due to these reasons want to try with other bank first..

bank can bend any rules for business