Infinia HDFC Infinia - HDFC LIFE Insurance

[Legionomous]

I just got a call from someone (claims to be Wealth manager) from HDFC LIFE team who claims that I can get a definite approval of Infinia Metal if I park some of my funds in one of the MF (Discovery Fund to be specific) for 5 years. Is this even a good idea to go ahead with this scheme? The amount I am asked to invest is little less than 2.5 lakhs. I already hold a salary account with HDFC and the call doesn't seems to be a spam call as they were able to provide me with all the details about my account including which credit cards I hold with HDFC.

 

[coolguy1]

An easy way is to ask them for the card first and then make the investment.

You have enough money in your account since they called you I guess so there are fewer chances of you backing out after getting the card compared toa. random guy on a call backing away from his commitment.

 

[Card_Maddy]

I just got a call from someone (claims to be Wealth manager) from HDFC LIFE team who claims that I can get a definite approval of Infinia Metal if I park some of my funds in one of the MF (Discovery Fund to be specific) for 5 years. Is this even a good idea to go ahead with this scheme? The amount I am asked to invest is little less than 2.5 lakhs. I already hold a salary account with HDFC and the call doesn't seems to be a spam call as they were able to provide me with all the details about my account including which credit cards I hold with HDFC.

First card then all investment otherwise he will fool in sake of infinia metal and complete his targets instead. Keep clear to him get you infinia first and assure him post getting the card in hands will do the desired investment

 

[Legionomous]

I went for the same thing asking for the card first and then the investment. For my further satisfaction, he also sent the below email. Hoping the email is not scam as the sender has @hdfcbank.com

 

[Legionomous]

Update: Got a call back to have this done by EOD today and committed to give me 30 days grace period to get a full refund if I want to withdraw the application. Didn't make sense as I believe that, withdrawing from any fund before maturity could be chargeable but I could be wrong. It was definite that the person was in rush to sell the investment as he wasn't willing to give me until Monday to make the decision and denied the idea of Credit card first and then investment so decided to not go ahead with the application

 

[vaibhav111]

Update: Got a call back to have this done by EOD today and committed to give me 30 days grace period to get a full refund if I want to withdraw the application. Didn't make sense as I believe that, withdrawing from any fund before maturity could be chargeable but I could be wrong. It was definite that the person was in rush to sell the investment as he wasn't willing to give me until Monday to make the decision and denied the idea of Credit card first and then investment so decided to not go ahead with the application

if you change your mind, the offer would still stand with the person... my rm keep calling me every 1 month to update on some investment so do the necessary due diligence what would be ROI on that investment if that is good with your cc spend over 8-10 lakhs then it could be good ideal.

 

[bruhbruh123]

I would be totally fine with investing in a mutual fund to get an Infinia but my HDFC RM seems to be helpless though. I would really appreciate it if anyone can share a contact of someone who's willing to get approvals for an Infinia against an investment in mutual funds.

 

[SmartSave]

I would be totally fine with investing in a mutual fund to get an Infinia but my HDFC RM seems to be helpless though. I would really appreciate it if anyone can share a contact of someone who's willing to get approvals for an Infinia against an investment in mutual funds.

Usually this is known and handled by another team who knows these loopholes. Ask your RM to connect to someone from the MF/Investment team. Then raise this query about availing Infinia against investment. They will then spill the beans. You need to get hold of someone from the manager level.

 

[financewizard]

I just got a call from someone (claims to be Wealth manager) from HDFC LIFE team who claims that I can get a definite approval of Infinia Metal if I park some of my funds in one of the MF (Discovery Fund to be specific) for 5 years. Is this even a good idea to go ahead with this scheme? The amount I am asked to invest is little less than 2.5 lakhs. I already hold a salary account with HDFC and the call doesn't seems to be a spam call as they were able to provide me with all the details about my account including which credit cards I hold with HDFC.

Getting CC based on such insurance policies is a very bad financial decision.
Based on my assumption, it's not going to be one time investment of 2.5L but annual recouring investment of 2.5 L for 5 years!!

Also the ULIP returns are way lower when compared to equity based MFs. So essentially the benefits that you make with infinia CC will get offseted against the opportunity losses that you make here in this insurance.

Analyse your needs and decide if you really need that insurance policy. If yes, and if you are getting Infinia CC as a compliment, then it is a good option. But not the other way around - where you want infinia and hence taking insurance policy..

 

[sm9811911]

I just got a call from someone (claims to be Wealth manager) from HDFC LIFE team who claims that I can get a definite approval of Infinia Metal if I park some of my funds in one of the MF (Discovery Fund to be specific) for 5 years. Is this even a good idea to go ahead with this scheme? The amount I am asked to invest is little less than 2.5 lakhs. I already hold a salary account with HDFC and the call doesn't seems to be a spam call as they were able to provide me with all the details about my account including which credit cards I hold with HDFC.

This is likely to be a ulip rather than mf.
Secondly, only if you're close to meeting the infinia cc criteria, they will offer the card. So check what is it that you can do to get approval without investment.

 

[elite34700]

Update: Got a call back to have this done by EOD today and committed to give me 30 days grace period to get a full refund if I want to withdraw the application. Didn't make sense as I believe that, withdrawing from any fund before maturity could be chargeable but I could be wrong. It was definite that the person was in rush to sell the investment as he wasn't willing to give me until Monday to make the decision and denied the idea of Credit card first and then investment so decided to not go ahead with the application

This is definite mis selling. Having a email in your inbox from the seller doesnt guarantee an infinia card for you, kindly stay away from such folks. Otherwise, get the card first tell him you will also give him an email stating you will invest when you get an infinia. Play that game, dont buy the plan unless you get an infinia.

 

[card-shard]

I would be totally fine with investing in a mutual fund to get an Infinia but my HDFC RM seems to be helpless though. I would really appreciate it if anyone can share a contact of someone who's willing to get approvals for an Infinia against an investment in mutual funds.

Even when you purchase mutual funds from HDFC, they sell you "regular" mutual funds, which gives 1-2% lower returns than "direct" mutual funds purchased via Zerodha/Groww/Paytm.
So, even when you purchase funds worth 10-20L or more to get Infinia, you will probably lose more than 12500 in lost fund returns YOY.
Also, a lot depends on the mutual fund offered. Not all funds give good returns, so it might so happen that banks push you to buy a low yielding fund just to increase funds AUM, while you don't get any tangible returns from that particular fund. Overall your loss in that case.

A lot of people here I see are so lost in their pursuit to get a Infinia, that they make bad financial decisions. It seems to me that "In search of Gold, people are losing diamonds".
Any investment related strings attached to Infinia (FD/ULIP/MF via bank) or any other card is a bad deal for the customer, in most of the cases. 😑 😑

 

[bruhbruh123]

It's true. I am happy with my DCB + Atlas combo for now. For offline spends, I would use Atlas now even if I were to have Infinia so it doesn't really matter anymore.

Thanks for your response.

 

[shann9999]

It's true. I am happy with my DCB + Atlas combo for now. For offline spends, I would use Atlas now even if I were to have Infinia so it doesn't really matter anymore.

Thanks for your response.

ATLAS offline usage to meeting milestone benefit or any other tip?

 

[racydex]

If you have 40lacs clear income showing on your ITR then you can easily get the card.
Dm me if you need help

 

[imdjay]

If you have 40lacs clear income showing on your ITR then you can easily get the card.
Dm me if you need help

The needed ITR is 36 lakh only. and this is just an official statement. in real, you do not need that much of ITR.

 

[elite34700]

The needed ITR is 36 lakh only. and this is just an official statement. in real, you do not need that much of ITR.

True , a 15 lakh ITR can get you an infinia if you know the right people.

 

[Yugi]

I went for the same thing asking for the card first and then the investment. For my further satisfaction, he also sent the below email. Hoping the email is not scam as the sender has @hdfcbank.com

I am curious to know what did you do, how did it go?

 

[imdjay]

I went for the same thing asking for the card first and then the investment. For my further satisfaction, he also sent the below email. Hoping the email is not scam as the sender has @hdfcbank.com

Can you DM me that persons contact number or email?

 

[Deleted member 21942]

Getting CC based on such insurance policies is a very bad financial decision.
Based on my assumption, it's not going to be one time investment of 2.5L but annual recouring investment of 2.5 L for 5 years!!

Also the ULIP returns are way lower when compared to equity based MFs. So essentially the benefits that you make with infinia CC will get offseted against the opportunity losses that you make here in this insurance.

Analyse your needs and decide if you really need that insurance policy. If yes, and if you are getting Infinia CC as a compliment, then it is a good option. But not the other way around - where you want infinia and hence taking insurance policy..

✅ Absolutely agree with this 💯% ✅