HDFC Savings Max FD Requirement

[LJGIBBS]

Can anyone confirm if Tax Saver FD of Rs.150000 will make Savings Max account free from requirement to maintain 25K AMB.. While hdfc website mentions fd of 1.5L, not sure if that is applicable to tax saver fd

 

[SpiesCan'tCatchMe]

As you mentioned the website says 1.5 lac fd will make a savings max account zero balance but my RM told me to do a fd of 50k so that no charges will be deducted if you don't maintain the req. balance while i was enrolling my account in classic from savings max.
I guess it depends on location like metro, semi urban and rural

 

[FinoGuy]

As you mentioned the website says 1.5 lac fd will make a savings max account zero balance but my RM told me to do a fd of 50k so that no charges will be deducted if you don't maintain the req. balance while i was enrolling my account in classic from savings max.
I guess it depends on location like metro, semi urban and rural

Automatically enrolled into classic by maintaining 1L+ mab or manual upgrade via branch ? This 50k thing Iam hearing for first time. Is yours rural or urban branch?
@Wealth is my birth right!

 

[SiddharthR]

I guess it depends on location like metro, semi urban and rural

Which is yours??

 

[paresh22]

I think it's either 1l Or 1.5l FD based on rural vs urban location.

 

[SpiesCan'tCatchMe]

Automatically enrolled into classic by maintaining 1L+ mab or manual upgrade via branch ? This 50k thing Iam hearing for first time. Is yours rural or urban branch?
@Wealth is my birth right!

I opened the account a week ago and went to the branch to give them a cheque and asked them to make my account classic but they denied. So i wrote a email and got a call from the BM next day and thus i was enrolled into classic.

 

[SpiesCan'tCatchMe]

Which is yours??

Semi urban and i specifically asked again about the 50k thing as i follow tf community so i knew it's 1.5 lacs but he said 50k will do

 

[FinoGuy]

Semi urban and i specifically asked again about the 50k thing as i follow tf community so i knew it's 1.5 lacs but he said 50k will do

So you've made classic banking 0mab by doing 50k FD?

 

[SpiesCan'tCatchMe]

So you've made classic banking 0mab by doing 50k FD?

I didn't do the fd yet as I wanted to get to preferred directly but seems like the staff here doesn't have any knowledge about that so I'll wait for a couple months and then maybe do the fd

 

[LJGIBBS]

I didn't do the fd yet as I wanted to get to preferred directly but seems like the staff here doesn't have any knowledge about that so I'll wait for a couple months and then maybe do the fd

So, BM gave you a classic banking status with 50K balance ???

 

[SpiesCan'tCatchMe]

No no see I'll give a timeline
Opened bank ac on 14 dec-- 19 dec got the welcome kit activated ac and visited branch to give a cheque and request a direct upgrade to classic or preferred but staff told you can't get into classic directly from day 1 --- 20 dec mailed them and got a call from BM he said you'll get classic upgrade just visit the branch.
When i went to the branch the RM said sir you can do a fd of 50k and there'll be no charges for non maintanence then i said not now I'll do it later.

 

[LJGIBBS]

No no see I'll give a timeline
Opened bank ac on 14 dec-- 19 dec got the welcome kit activated ac and visited branch to give a cheque and request a direct upgrade to classic or preferred but staff told you can't get into classic directly from day 1 --- 20 dec mailed them and got a call from BM he said you'll get classic upgrade just visit the branch.
When i went to the branch the RM said sir you can do a fd of 50k and there'll be no charges for non maintanence then i said not now I'll do it later.

Classic require 5 lakh FD. In classic not only your account, but you can add some other family account as 0 balance account. Just have to maintain 5L FD.
In Savings Max Account, according to terms and condition, 1.5L FD for Metro and 1L FD for Rural is required, to make your account 0 balance. But here you cannot add family member.
Branch can change anything anyway they want.

 

[SpiesCan'tCatchMe]

Classic require 5 lakh FD. In classic not only your account, but you can add some other family account as 0 balance account. Just have to maintain 5L FD.
In Savings Max Account, according to terms and condition, 1.5L FD for Metro and 1L FD for Rural is required, to make your account 0 balance. But here you cannot add family member.
Branch can change anything anyway they want.

I see so this particular branch maybe has 50k for 0 mab

 

[tuhin]

1.5L --> Urban/Metro
1L --> Semi Urban/Rural

Suggest you to open at SemiUrban/Rural branches