Need some guidance with HDFC Bank Classic Banking

[PayKaroAbhi]

I have a 5 years old Digi Save Youth savings account in HDFC Bank (5K MAB required).

I'm maintaining 1 Lac+ in the account for almost 10 months now but haven't received any pre-approved Classic Banking upgrade offer. I recently transferred my account to my nearest branch. I visited the branch and submitted the classic banking sign-up form to the banker and waited for two weeks but nothing happened. I called him and he was saying those usual words like Don't worry sir, will do it sir etc. He again asked my number and after some time said that their server is not responding.

Also the same banker who asked me to submit the form is now saying that classic banking can't be provided via form method now. I mean then why did he asked me to do so man!

In short, I can totally understand the fact that he's not providing that intentionally.

I have raised my concern on Twitter but haven't received any satisfactory response.

What to do now?
Is there any other way to get that?

Haven't ever seen such pathetic service of a private bank. People usually complain about Kotak Bank but they're far better than this atleast for me.

 

[Alex292929]

so are you maintaining 10L?

 

[Trust Me]

so are you maintaining 10L?

TRV

 

[PayKaroAbhi]

Hello Members!

I upgraded my Times Points Debit card to Millennia back in April, and at that time the issuance charges weren't levied in my account. I wasn't a Classic Banking member at that time but now I'm. I just checked my statement and the fees are levied just today. Can I somehow get refund for that as I'm a classic banking customer now?

 

[It_is_Naruto]

Hello Members!

I upgraded my Times Points Debit card to Millennia back in April, and at that time the issuance charges weren't levied in my account. I wasn't a Classic Banking member at that time but now I'm. I just checked my statement and the fees are levied just today. Can I somehow get refund for that as I'm a classic banking customer now?

It's possible...ask your RM to apply for it. It will be reversed after a few days.

 

[PayKaroAbhi]

It's possible...ask your RM to apply for it. It will be reversed after a few days.

Thanks Man! Will contact him for that.

 

[kishorvr]

Does mutual funds + stock value count as relationship value for classic banking? Or is it that maintaining 1 lakh in savings and mutual funds + stocks separate? I read that classic will get demat account for Rs 250 as AMC but free to join.

 

[Chaitanya-a]

Does mutual funds + stock value count as relationship value for classic banking? Or is it that maintaining 1 lakh in savings and mutual funds + stocks separate? I read that classic will get demat account for Rs 250 as AMC but free to join.

What you're talking about is NRV.

1L is MAB required which needs to be kept in Savings account balance only. No stock value, mutual fund, fixed deposit anything is considered in MAB.

 

[Trust Me]

What you're talking about is NRV.

1L is MAB required which needs to be kept in Savings account balance only. No stock value, mutual fund, fixed deposit anything is considered in MAB.

Not correct.

One of the HDFC Classic banking eligibility criteria:

Average monthly balance of min 5L in SB + FDs. This allows even zero balance in SB account.

 

[Chaitanya-a]

Not correct.

One of the HDFC Classic banking eligibility criteria:

Average monthly balance of min 5L in SB + FDs. This allows even zero balance in SB account.

He is asking about 1L specifically. 1L is MAB condition. What's incorrect in it?

Inclusion of FDs, Mutual funds & Demats etc requires higher amount which is considered as NRV.

 

[Akashn]

Some Deputy guy in my nearest branch was all sweet when i visited for first time. He lured me into stupid sweep in FD. He repeatedly asked what you want from bank blah blah. I said i want to enroll to classic banking and he said ok at first. He opened FD and after 2 days he said i need to maintain 30 lacs for classic banking. I said ok and cancelled FD created by him

 

[Chaitanya-a]

Some Deputy guy in my nearest branch was all sweet when i visited for first time. He lured me into stupid sweep in FD. He repeatedly asked what you want from bank blah blah. I said i want to enroll to classic banking and he said ok at first. He opened FD and after 2 days he said i need to maintain 30 lacs for classic banking. I said ok and cancelled FD created by him

Bolna jhopdi ke bank employee kisne banaya tujhe. 1L ke Account ko 30L bol rha hai

 

[Akashn]

Bolna jhopdi ke bank employee kisne banaya tujhe. 1L ke Account ko 30L bol rha hai

Usne uska target complete karne ke liye badi badi baate ki but jab customer ka kuch kaam tha tab thenga dikha diya..

 

[CARDBITRAGE]

He is asking about 1L specifically. 1L is MAB condition. What's incorrect in it?

Inclusion of FDs, Mutual funds & Demats etc requires higher amount which is considered as NRV.

My understanding is that HDFC considers only liability relationships (CA,SA,FD,RD).

 

[credit_debit]

Does mutual funds + stock value count as relationship value for classic banking? Or is it that maintaining 1 lakh in savings and mutual funds + stocks separate? I read that classic will get demat account for Rs 250 as AMC but free to join.

Share value will not be considered in 1 Lakh AMB as it fluctuates and it may be relative too. Suppose you have 100 unlisted Tata technology shares in your account today, their value in your DEMAT account today will be shown as Rs. 200 (Face value * No. of Shares). When it lists after couple of months after IPO, its true value of Apprx Rs. 100000 will be reflected at that time. Again depending on quality of companies, things might vary. So even someone applies for loan against securities, all these parameters are taken into account.

 

[Trust Me]

He is asking about 1L specifically. 1L is MAB condition. What's incorrect in it?

Inclusion of FDs, Mutual funds & Demats etc requires higher amount which is considered as NRV.

He was confused about the need to maintain 1L each in SB, mutual fund, stocks, etc. for relationship value. True, he didn't talk about FDs specifically. You brought it up.

Your quibble probably was FDs should be considered part of NRV, and not of MAB. Here I quote one of the options again from the classic banking criteria, -- this time verbatim from HDFC:

"Average Monthly Balance of Rs. 5 Lakhs in combination of Savings Account and Fixed Deposit".

--- HDFC's words, not mine!

 

[0xfallup]

maaro maaro ek dusre ko !

 

[Chaitanya-a]

He was confused about the need to maintain 1L each in SB, mutual fund, stocks, etc. for relationship value. True, he didn't talk about FDs specifically. You brought it up.

Your quibble probably was FDs should be considered part of NRV, and not of MAB. Here I quote one of the options again from the classic banking criteria, -- this time verbatim from HDFC:

"Average Monthly Balance of Rs. 5 Lakhs in combination of Savings Account and Fixed Deposit".

--- HDFC's words, not mine!

Arey chacha unko sirf 1L se matlab tha. 5L ka pucha hota tab 5L ka batata

 

[4uziaul]

Arey chacha unko sirf 1L se matlab tha. 5L ka pucha hota tab 5L ka batata

Are tumlok dono kahan itna dimag laga rahe ho jo OP hai woh toh sawaal puch ke khud gayab hai 🤣

 

[AritraSaha]

HDFC one of my oldest card 14+ year old can you imagine the limit until last month only 50k 🤣. Last month somehow they took pity on me and gave me 10k limit enhancement. And it's not like I don't use the card at all in fact I use it quite frequently. In short don't expect anything from them.

Offline no results?🤣🤣

 

[4uziaul]

Offline no results?🤣🤣

Didn't try 😁