Pathetic HDFC Bank Experience

[vishp]

I have been a longtime HDFC customer from past 8 years. I have studied from a premium college and now earn approx 2 LPA net in-hand.
I just started my credit card journey this year and after going through many posts in this forum, asked my RM if I can get DCB Lifetime free. If not, then atleast Regalia Gold. He said I can't get them Lifetime free. I asked whether I can get atleast Millenia Lifetime free. He said I can't get any card as LTF! And then started talking about ULIP and I can get even Infinia with ULIP itseems. Bl**dy salesmen.
Complained on Twitter, Email, Escalated, but nothing. Got one mail from grievance that all cards are paid and thats it. No replies to further mails. Such horrible experience.
Was an advocate of HDFC Bank till now but not anymore. Thinking of switching salary account and all funds out.

 

[Vasuki]

3 lakhs across 10 years (and you forgot tax on that) is an inconsequential amount to worry about. No branch anywhere will provide Infinia by promising to open an account with 10 or even 20 lakhs.

You are right and wrong in a way
And you too @shashankrt

ULIP IS BAD INVESTMENT - YES IT IS BECAUSE U neither get high return nor high term policy . When it is sold to you as term insurance with money back & great returns .

But @shashankrt ..
These guys have used ULip as a investment
like u do fd to get to a product like secure cc
They got product called infinia metal cc

They are neither expecting high return on this investment nor high Term life insurance.

They did a mid tier investment with thier liquid money to leverage and got infinia for their benefit.
M i right @S S V u too aren't expecting very high return or high term life insurance from this ULIp right?

 

[Zacobite]

Upfront Investment - 250000
SIP - Rs 500

SIP Returns of UTI Unit Linked Insurance Plan - Direct Plan -​

₹7,29,270 9.69% annualised returns​

₹3,10,000 invested across 10 years.

SIP Returns of UTI Nifty 50 Index Fund - Direct Plan​

₹10,87,921 14.41% annualised returns​

₹3,10,000 invested across 10 years.

Above may be tiny loss for you however its an easily avoidable loss especially if you have 10L to open a new account. Also I have picked probably not so good fund. Most mfs will easily give more returns. Even considering 10 percent tax, above makes more more sense to invest in equities.

Also dont compare this with FDs. FDs till 5 lakhs per account are backed by RBI guarantee and have fixed guaranteed returns. Also you can liquidate FDs in case of emergencies.

My suggestion was to open a new account and negotiate for Infinia not put 10L in existing account. In that case you get imperia and also dont lose out any of above gains. Anyways enjoy your infinia

ulip for infinia.. dont go there.. buy a ulip if it really is part of your planning.. there are alternatives but ulip is not a scam.. it is a gd product.. just gets mis sold a lot.
infinia is not something that you shd disturb your fin plan for

 

[FinoGuy]

Very nicely put doc ji..
Yes I have not made this as my top priority investment to change my life.....
Even then, I will make more money as it has unlimited free switch between funds.. that’s because of my skill, not the out of the box functionality.
I had several times mentioned that what we are comparing with.. we need to do right comparision... to see the things in a correct way ..

Also don't want to litter every HDFC thread with ULIP crap.. enough is enough..
If this staemement makes everyone happy, I will do it as well..
" Never touch ULIP.. they are worst of worst of the WORST investments in the entire COSMOS.. if you are an ULIP subscriber means you are a LOSER.. "...

Meanwhile, I will be accumulating and counting my MOOLAH periodically... and will even disclose my returns in the future, if I wish to and if I feel so...

 

[techt]

off-topic: I have kinda same experience with ICICI. I have had a salary account with them for 8 years, and I asked them for LTF Sapphiro, RM agreed and applied but they later denied it. I have been following up with RM but he ghosted me. would switching the branch in ICICI help and does it change RM?

If you have given your avatar as passport photo then there is a high chance that could be the reason.

 

[Vasuki]

If you have given your avatar as passport photo then there is a high chance that could be the reason.

U r silent killer m observing

 

[techt]

U r silent killer m observing

What do you mean? 🤔

 

[Vasuki]

What do you mean? 🤔

Once u sees aplty & attack sweet & clean with sarcasm 😁

 

[SSV]

If you have given your avatar as passport photo then there is a high chance that could be the reason.

What would it be like , if @kunal.exe had referred his RM as " She ghosted him" ..
Would the passport photo had worked in his favour??

 

[techt]

Once u sees aplty & attack sweet & clean with sarcasm 😁

OK. Thanks for the compliments. Message board days were long gone as everyone/group is on instant messengers. It's been 10 years since I have been active on a forum and my old energy & sarcasm is gushing out 😂

 

[techt]

What would it be like , if @kunal.exe had referred his RM as " She ghosted him" ..
Would the passport photo had worked in his favour??

Then it would be an offending case and Kunal would be the guest to our janab @DocFixIt jail.

 

[Vasuki]

OK. Thanks for the compliments. Message board days were long gone as everyone/group is on instant messengers. It's been 10 years since I have been active on a forum and my old energy & sarcasm is gushing out 😂

Blessings from Jail ✨✨👉

 

[Pankhuri]

I have already done it. Received my card yesterday.

Is infinia ltf for you?

 

[Pankhuri]

" Never touch ULIP.. they are worst of worst of the WORST investments in the entire COSMOS.. if you are an ULIP subscriber means you are a LOSER.. "

I think this is probably the biggest curse of the internet, niche communities find meta for a thing but then expect everyone else in the field is playing the same game so their meta is the only meta. ULIPs won't be a thing if they didn't serve people. Banks are in it to make money, products which don't make money won't survive. But products which don't make money for customers won't survive also. If the ULIPs are in the market still when literally anyone have access to most of the investment vehicles, that clearly is an indication that they serve a market.

 

[Lobogris]

Is infinia ltf for you?

No, only FYF. However, it doesn’t matter as you get 12,500 reward points on paying the annual fee each year.

 

[Zacobite]

2 lacs a year doesn’t affect my financial planning in the slightest. A single trip to Europe costs far more. Infinia is not meant for people who need to worry about a couple of lakhs here and there. It is intended for people with high incomes and high expenses. If anyone only has 2 lakhs a year to invest or if those 2 lakhs are a major part of their savings or investment then obviously they should not go down this route.

well i hope your money treats you well in the future as well...

 

[Shin-Chan]

Whenever a new RM is assigned they call me, I tell them if you ever want to connect use email and never ever call me of I will raise a complaint of breach of privacy.


Infact, I had got 2 of my RMs removed previously for sales calls randomly based on my account transactions. Since then no RM ever disturbed my peace. Visiting branch and talking to BM has been more precise and valuable always. (I have branch within a KM from my place)

 

[Shin-Chan]

You want LTF card.

HDFC wants ULIP sales.

Meet them somewhere in the middle, ranting to Grievance won't help with random LTF card requests.

ULIPs are not a bad choice if they can get you LTF Infinia

 

[vishp]

Whenever a new RM is assigned they call me, I tell them if you ever want to connect use email and never ever call me of I will raise a complaint of brach of privacy.


Infact, I had got 2 of my RMs removed previously for sales calls randomly based on my account transactions. Since then no RM ever disturbed my peace. Visiting branch and talking to BM has been more precise and valuable always. (I have branch within a KM from my place)

Great. I'll speak to my local HDFC BM then. Let's see if he agrees to an LTF Card. If he does, I'll shift my account here.

 

[adi]

Thats ridiculous. 2.5 lakhs for 5 years will have huge losses compared to MFs. There is no point dumping that kind of money for Infinia.

I talked to my RM again today.
He gave 2 more options😂
1st is i can cancel that within 15 days to get full refund and other is minimum i need to do 2 installments after that i dont have to pay and will receive interest on pro rata basis and after 6 years i can withdraw the amount.

I asked him what if i cancel, he said sir we work on trust and i trust you😝

Now i am in a fix, should i wait for infinia reserve or break his trust.🥲

 

[Shin-Chan]

Great. I'll speak to my local HDFC BM then. Let's see if he agrees to an LTF Card. If he does, I'll shift my account here.

He will not agree that easily you will have to honey trap him into possible benefits.



Rest is upto you convincing him and him getting convinced