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.

 

[Finchamp!]

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.

Another very valid point!

 

[NikhilG]

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.

Would have is actually same as have.
He would be worth any crores, his acquisition cost would still be the same. You wouldn't have made this useless point if you would have gone through my previous replies carefully.

 

[Finchamp!]

Would have is actually same as have.
He would be worth any crores, his acquisition cost would still be the same. You wouldn't have made this useless point if you would have gone through my previous replies carefully.

Arey his only point is that while the cost of acquisition, per this strategy, would still be the same, it would hurt some lesser than the other. Nothing wrong with this general observation.

 

[NikhilG]

Arey his only point is that while the cost of acquisition, per this strategy, would still be the same, it would hurt some lesser than the other. Nothing wrong with this general observation.

But, isn't it obvious?
Purchasing power would be different for every individual, how does it make a difference to our discussion?

 

[Finchamp!]

But, isn't it obvious?
Purchasing power would be different for every individual, how does it make a difference to our discussion?

Breathe in, breathe out!

 

[JAM]

But, isn't it obvious?
Purchasing power would be different for every individual, how does it make a difference to our discussion?

Brother purchasing power means what you can buy with a set amount of money which in our case in india is the same. Having more or less money doesn't change "purchasing power" . I am unaware of any other usage of purchasing power.
I am referring to the value of money to an individual. To you 1 lakh maybe significant to somebody with 5 cr 10cr it may not be. So in this case I'm referring to marginal utility of money.

Would have is not the same as have. Lot of people can be asset rich and cash poor especially in the "real estate + gold" culture we have. OP already has 1 cr liquid.

 

[kvndsz512]

Rich boy is here, welcome to my thread

lol me? xD

 

[neo.puneet]

 

[Hackmebro]

@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.

FD @7.1% for 15 months duration. No lein.
There’s no penalty, my FD was on monthly payout - all they did was adjust the interest to 4.25% as you said right for less than 6 months that’s the ROI. Koi penalty nahi lagti break krne me

@NikhilG

 

[Hackmebro]

Why did I break this FD?
Honestly, I had no problem letting it continue for full year or so. I wasn't even looking for any alternative investment that could yield more than 7–8%.


The FD would’ve just continued as usual, but I came across a distress sale in real estate in my area, and I decided to buy it in cash. I plan to hold it for a few months, sell it, and possibly put the funds back into an FD afterward.

Every now and then, I like to grab distress sales in real estate.

 

[NikhilG]

Brother purchasing power means what you can buy with a set amount of money which in our case in india is the same. Having more or less money doesn't change "purchasing power" . I am unaware of any other usage of purchasing power.
I am referring to the value of money to an individual. To you 1 lakh maybe significant to somebody with 5 cr 10cr it may not be. So in this case I'm referring to marginal utility of money.

Would have is not the same as have. Lot of people can be asset rich and cash poor especially in the "real estate + gold" culture we have. OP already has 1 cr liquid.

With your consideration and understanding of the context of money we don't even a common grounds to have any discussion then. Why to have any financial or credit card talks then. We shouldn't even have a technofino community then as value of money would be different to every individual. Doesn't work like that bro.

And with the purchase power I meant it's perceived worth to different individuals. Was talking in that context.