Infinia How to get HDFC Infinia LTF or other super premium CCs using ULIPs?

[kshitij_0]

Please share your experiences regarding this topic, those who have already got the super premium cards like Infinia.

What should be the minimum amount of ULIP and which way do we need to approach the bank?
Which other things do we need to keep in mind?

Please don't share trivial knowledge that ULIPs are bad and all.

 

[realjayt]

@S S V

 

[drsel]

Please share your experiences regarding this topic, those who have already got the super premium cards like Infinia.

What should be the minimum amount of ULIP and which way do we need to approach the bank?
Which other things do we need to keep in mind?

Please don't share trivial knowledge that ULIPs are bad and all.

I read on TechnoFino that the ULIP should be minimum 2 lakhs per annum and minimum 10 years duration, so that they can make a good amount of profit out of you in order to give you HDFC Infinia card

 

[infinia_finally]

I was interested in an endowment plan and working with RM, but delayed as I was busy.

Independent of above, I emailed Hdfc CC team for DCB LTF alumni offer and CCed RM. I wasn't even looking for Infinia.
At that time, since LTF alumni offer was expired, RM himself said I should get Infinia and got me approval with necessary waivers.

If it helps, I was planning to max out 5L investment per year in the plan. RM got me Infinia before plan purchase, as a goodwill, without any pressure.

 

[drsel]

You have to calculate how much profit they will make out of your ULIP and then figure out how to extract more benefit than that out of your INFINIA card

 

[infinia_finally]

You have to calculate how much profit they will make out of your ULIP and then figure out how to extract more benefit than that out of your INFINIA card

That may not be the correct goal.

ULIP decision is a pure investment decision based on personal finance goals, asset allocation, risk behaviour etc
If you think HDFC ULIP is a good, then go for it. After that,
instead of online, if you go via RM, it gives him commission and makes him happy. And gives you leverage to ask him to get Infinia for you. But Infinia is not guaranteed if you need some waivers like spend waiver, income waiver etc.

Also, in general, Infinia is good, but depending on amount and type of spend pattern, it could be that other CCs are better and you won't even have spends to offset the GST you pay for Infinia fees.

But never link ULIP or FD returns in bank to the rewards from CCs. That's a rabbit hole. Keep them separate on their own merits. If they match, then great.

 

[kshitij_0]

That may not be the correct goal.

ULIP decision is a pure investment decision based on personal finance goals, asset allocation, risk behaviour etc
If you think HDFC ULIP is a good, then go for it. After that,
instead of online, if you go via RM, it gives him commission and makes him happy. And gives you leverage to ask him to get Infinia for you. But Infinia is not guaranteed if you need some waivers like spend waiver, income waiver etc.

Also, in general, Infinia is good, but depending on amount and type of spend pattern, it could be that other CCs are better and you won't even have spends to offset the GST you pay for Infinia fees.

But never link ULIP or FD returns in bank to the rewards from CCs. That's a rabbit hole. Keep them separate on their own merits. If they match, then great.

Please share your infinia journey

 

[infinia_finally]

Please share your infinia journey

Post in thread 'Experience with Infinia Upgrade' https://www.technofino.in/community/threads/experience-with-infinia-upgrade.16541/post-485869

 

[Eye of Ajay]

While Infinia is hard "CH/ZH L2 head approval needed" this is a way you can get PH approval for DCB

HDFC ULIP > 3LPA for 10+ Years via SRM "Imperia/Preferred"

PS Don't use the BM route for this since HDFC BM's are quite high level people AVP+ they often don't care enough.

PPS Do this all in March for max effect last week of March when full power of the crunch is on. Start the negotiation around the second week and keep going till the forth week.

 

[_ayush]

Only invest in ULIP only if it aligns with your investment goals. Otherwise you will end up losing money.
Every card is bound to get downgraded in few years but if you invest in ULIP, you have to invest for 7-10 years and then remain invested for around 15 years. Think of all the money you will lose through this because of compounding at low interest and then make a decision.

 

[infinia_finally]

While Infinia is hard "CH/ZH L2 head approval needed" this is a way you can get PH approval for DCB

HDFC ULIP > 3LPA for 10+ Years via SRM "Imperia/Preferred"

PS Don't use the BM route for this since HDFC BM's are quite high level people AVP+ they often don't care enough.

PPS Do this all in March for max effect last week of March when full power of the crunch is on. Start the negotiation around the second week and keep going till the forth week.

My BM also helped although my point of contact was RM. BM of a small branch isn't that senior I think.
Also in TF, I read that some RM/BM weren't able to get approvals. So it also depends on their influence.

 

[Eye of Ajay]

My BM also helped although my point of contact was RM. BM of a small branch isn't that senior I think.
Also in TF, I read that some RM/BM weren't able to get approvals. So it also depends on their influence.

PH approval is always easier than CH/ZH L2 approval but yes a lot of variables.

 

[s1t2y3a3m6]

I was interested in an endowment plan and working with RM, but delayed as I was busy.

Independent of above, I emailed Hdfc CC team for DCB LTF alumni offer and CCed RM. I wasn't even looking for Infinia.
At that time, since LTF alumni offer was expired, RM himself said I should get Infinia and got me approval with necessary waivers.

If it helps, I was planning to max out 5L investment per year in the plan. RM got me Infinia before plan purchase, as a goodwill, without any pressure.

Luckily you have a good RM. My RM is useless, when ever I start talk to LTF upgrade simply answer " LTF not possible" & started conversation to open rd,fd, ulip.

 

[infinia_finally]

Luckily you have a good RM. My RM is useless, when ever I start talk to LTF upgrade simply answer " LTF not possible" & started conversation to open rd,fd, ulip.

Which card's LTF?

Btw, I got this RM after 12 yrs of penance tolerating bad RMs

 

[kshitij_0]

Only invest in ULIP only if it aligns with your investment goals. Otherwise you will end up losing money.
Every card is bound to get downgraded in few years but if you invest in ULIP, you have to invest for 7-10 years and then remain invested for around 15 years. Think of all the money you will lose through this because of compounding at low interest and then make a decision.

I just want to invest for 1 year that too not more than 2L. I'll withdraw after 5 years. If they give me Infinia it's fine or else I don't want.

 

[kshitij_0]

While Infinia is hard "CH/ZH L2 head approval needed" this is a way you can get PH approval for DCB

HDFC ULIP > 3LPA for 10+ Years via SRM "Imperia/Preferred"

PS Don't use the BM route for this since HDFC BM's are quite high level people AVP+ they often don't care enough.

PPS Do this all in March for max effect last week of March when full power of the crunch is on. Start the negotiation around the second week and keep going till the forth week.

I can anyway get DCB by the end of this year just with CC limit without ULIP. DCB isn't worth it with ULIP.

 

[_ayush]

I just want to invest for 1 year that too not more than 2L. I'll withdraw after 5 years. If they give me Infinia it's fine or else I don't want.

I dont think it works like that. There is a lock in period and if you withdraw before that you lose a significant amount.

 

[drsel]

I can anyway get DCB by the end of this year just with CC limit without ULIP. DCB isn't worth it with ULIP.

Both DCB and DCB Black are not worth having, unless lifetime free.
You cannot recover the joining fee.
The vouchers given have no real cash value you can easily do without them

 

[drsel]

Both DCB and DCB Black are not worth having, unless lifetime free.
You cannot recover the joining fee.
The vouchers given have no real cash value you can easily do without them

With HDFC, only paid Infinia is worth having.
The second best card Millennia is inferior to SBI cashback card and DCB and DCB black are not worth having because their charges cannot be recovered

 

[drsel]

There is a reason why HDFC is the most profitable bank in India