Infinia From ₹1 Cr FD to Infinia CC: The Upgrade

[Avatar Aang]

Whats the minimum amb required for infinia or preferred account status in hdfc or whatever it is called.

there's no amb for Infinia.
For savings account programs. It's 1L for Classic. 2L for preferred. 10L for Imperia. 25L for Imperia global.

 

[Lobogris]

The reason it is a bad decision is because he earned 3.5 percent per annum on that fd. Only if he continued the fd for an year and if could have earned a decent 6.5 percent to 7 percent, then what you wrote could have made some sense.

So? He could have continued it for a year or two if he wanted. That was his choice. He obviously has some better use for the money. I personally can easily leave 1 crore lying with a bank for a few years but if he had a better use then, obviously he would have understood that the benefit is more than losing 30k in interest

 

[Lobogris]

Lol its a credit card, don't compare it with TV and a mobile or a vacation. All of these comments actually prove that infinia is nothing but just a FOMO card.

Why not? Point is the value one perceives from the money spent. I might think spending 8 lakhs on an 85 inch OLED is good value while others woukd argue that a 50k TV would equally serve the purpose. In my case, I use lounges abroad 20 to 30 times a year and domestically quite often as well. Simply having unlimited access without worry alone is worth paying 30k per year for me.

 

[Finchamp!]

Bro, lot of members including me would have a crore for fd and that's why we are talking about the acquisition cost what made sense or not.
Again fixed deposit ka interest pura mila hota bhai ko to merse jyada happy koi na hota but bro had to break the fd and had to settle just for 3.5 percent per annum 🙁
@Hackmebro kitne duration ki fd karvayi thi vaise hdfc ne aap se?

@NikhilG 50 days ki FD @4.25% banakar, 100 days tak 2 baar compound karwa kar, FD bandh karwa denge. Tab tak Infinia milna hoga toh woh bhi mil jayega. Nahi toh 100 days ki FD ke poore returns lekar HDFC se baahar..

 

[NikhilG]

@NikhilG 50 days ki FD @4.25% banakar, 100 days tak 2 baar compound karwa kar, FD bandh karwa denge. Tab tak Infinia milna hoga toh woh bhi mil jayega. Nahi toh 100 days ki FD ke poore returns lekar HDFC se baahar..

I guess ek saal ki karwai hogi minimum hdfc valo ne

 

[Finchamp!]

I guess ek saal ki karwai hogi minimum hdfc valo ne

Why would they have a say in that?

 

[NikhilG]

Why would they have a say in that?

Because they know people would want to break the fd after getting the card and they get an excuse to put a 1 percent penalty on interest. @Hackmebro said he broke the fd and didn't complete it so it might be longer duration maybe an year or six months. Rest, I would let him confirm.

 

[Finchamp!]

Because they know people would want to break the fd after getting the card and they get an excuse to put a 1 percent penalty on interest. @Hackmebro said he broke the fd and didn't complete it so it might be longer duration maybe an year or six months. Rest, I would let him confirm.

@Hackmebro will be able to clarify better..but this doesnt make sense. One can always open SA with said amount, and after a week or so, convert all that amount into an FD of suiatable duration through App. Bank ka koi lena dena hi nahi hona chahiye.

 

[JAM]

Bro, lot of members including me would have a crore for fd and that's why we are talking about the acquisition cost what made sense or not.
Again fixed deposit ka interest pura mila hota bhai ko to merse jyada happy koi na hota but bro had to break the fd and had to settle just for 3.5 percent per annum 🙁
@Hackmebro kitne duration ki fd karvayi thi vaise hdfc ne aap se?

Would have is not the same as have right ? When you are thinking about acquisition cost and interest lost etc over a short period of time thats from your personal perspective and you would be right in that but we don't have any of OP's context to make a judgement. He could be worth 50cr making an FD for the card or he could be worth 0 borrowing money to make this FD for the card.
Once you cross a certain threshold of money these small amount and percentages are meaningless.