As I have HDFC CC, I am being offered HDFC Corporate Salary account. Is it truly zero balance account? (No MAB requirement)?

[Ad.Astra]

Guys, it would be great if you could answer my query.

I am being offered HDFC Corporate Salary account regular based on my HDFC Credit Card. I don't have any existing bank account with HDFC.

The offer email, as well bank website says it is zero balance account and no minimum MAB required. So could you guys tell me if it really is the case?

Also the debit card with the account is Platinum. I looked up the annual charges for it and it's ₹750 plus taxes. Can I opt for different debit card?

I don't think it makes sense to pay such high fee for a debit card when my Credit card is already LTF.

 

[akshayhs]

Salary accounts are generally, 0 balance. So that part is clear at the very least but usually salary accounts must have some corporate relationship behind it. At least that's what HDFC told me when I attempted to get one.

Since you are receiving the offer personally, I "generally" don't see a problem but confirm with CC (Customer care) once since they can slide away with saying "Oh, thats just an email sent randomly and cannot be enforced".

Regarding opting for a debit card, at the time of opening an account it is usually fixed but you can always choose which card you'd like to keep.

I would personally keep the Platnium card if I were you (provided you have at least 75k of Credit card expenses to be paid off monthly). If that's not the case then downgrade it to Millennia Debit.

 

[krish80]

Guys, it would be great if you could answer my query.

I am being offered HDFC Corporate Salary account regular based on my HDFC Credit Card. I don't have any existing bank account with HDFC.

The offer email, as well bank website says it is zero balance account and no minimum MAB required. So could you guys tell me if it really is the case?

Also the debit card with the account is Platinum. I looked up the annual charges for it and it's ₹750 plus taxes. Can I opt for different debit card?

I don't think it makes sense to pay such high fee for a debit card when my Credit card is already LTF.

I think all the HDFC Neu customers are being offered a zero balance account. The only catch is that your organization should be listed in the organization list or else you have to open a account with the stipulated MAB.

 

[Ad.Astra]

Salary accounts are generally, 0 balance. So that part is clear at the very least but usually salary accounts must have some corporate relationship behind it. At least that's what HDFC told me when I attempted to get one.

Since you are receiving the offer personally, I "generally" don't see a problem but confirm with CC (Customer care) once since they can slide away with saying "Oh, thats just an email sent randomly and cannot be enforced".

Regarding opting for a debit card, at the time of opening an account it is usually fixed but you can always choose which card you'd like to keep.

I would personally keep the Platnium card if I were you (provided you have at least 75k of Credit card expenses to be paid off monthly). If that's not the case then downgrade it to Millennia Debit.

Thanks for the explanation.

I have filled the form online, recieved application no. and bank representatives will come to collect KYC documents. My company was there when selecting organization I work for.
Like you said, I hope they don't decline account opening stating that email was sent randomly 😅.

I use debit card only to withdraw cash. So I think I will opt for some other debit card.

 

[Ad.Astra]

I think all the HDFC Neu customers are being offered a zero balance account. The only catch is that your organization should be listed in the organization list or else you have to open a account with the stipulated MAB.

I too have recieved similar thing

 

[Batmanbaba]

Thanks for the explanation.

I have filled the form online, recieved application no. and bank representatives will come to collect KYC documents. My company was there when selecting organization I work for.
Like you said, I hope they don't decline account opening stating that email was sent randomly 😅.

I use debit card only to withdraw cash. So I think I will opt for some other debit card.

Nobody will come.. They will call u to branch

 

[Sudarshan61]

I am being offered HDFC Corporate Salary account regular based on my HDFC Credit Card. I don't have any existing bank account with HDFC.

Beware ...
Salary account is not based on credit card

HDFC have just used it's CC database to send out such email asking user to shift salary account. Once you open salary account and salary does not get credited for few months it will get converted to normal account with MAB and charges for debit card

 

[Batmanbaba]

Beware ...
Salary account is not based on credit card

HDFC have just used it's CC database to send out such email asking user to shift salary account. Once you open salary account and salary does not get credited for few months it will get converted to normal account with MAB and charges for debit card

Yes.... Many people will open thinking its a zero balance account.........You need to have active salary credit in the account.... Hdfc is very strict with it.. They easily downgrade in 3-4 months and will also levy charges for months in which salary is not credited if mab is less than that of normal savings account...

 

[Ad.Astra]

Beware ...
Salary account is not based on credit card

HDFC have just used it's CC database to send out such email asking user to shift salary account. Once you open salary account and salary does not get credited for few months it will get converted to normal account with MAB and charges for debit card

Thanks for letting me know.

This doesn't sound good.

So keeping this in mind, guess I will not open account.

 

[souvikr]

I can't understand why they are calling it offer. Anyone can open a salary account and salary accounts are zero balance accounts only. Also existing savings account can be converted to salary account, it's just the matter of updating company code of your account.

 

[Sudarshan61]

I can't understand why they are calling it offer. Anyone can open a salary account and salary accounts are zero balance accounts only. Also existing savings account can be converted to salary account, it's just the matter of updating company code of your account.

It's how marketing works...

They give me offer of loan on CC at attractive rate of 14%..do you think that's an offer ?? .... It's not specially when I have FD with them for my imperia relationship 😂

But ya..that's how marketing team work.. promote regular services as offers and make you believe that as if you don't take you will miss on great opportunity