Does joining Family Imperia(HDFC) group increases my chances of a pre approved car loan?
Hey there,
Over a casual discussion I came to know that my brother's HDFC salary account is Imperia. If I join that by making a family group does my chance of getting pre approved car loan increases? or should I try upgrading my standard to classic or preferred? Previously I used to have a 15L pre approved but now it's not showing up. I've currently standard HDFC and maintaining 2.2L in that. Here's my previous post.
https://www.desidime.com/discussions/need-hdfc-...
Hello everyone,
I'm looking for ideas for my savings bank account with HDFC(1 year old) standard and used to maintain around 10k as that's the basic requirement to upgrade it to classic. I've transferred 2L into that account recently(last week) so the total balance is like 2.2L and using it regularly.
So, should I visit the branch and fill the form for classic upgrade or wait for auto upgrade invite through netbanking?
PS: I've an Infinia credit card with 11.5L limit which I've got recently.
PPS: Previously CITI is my primary account and now moving to HDFC as I citi is closing it's operations and sold to axis bank. Thanks.
My main aim is to get a pre approved car loan in the next 8 weeks. Thanks.
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Sure? Seems fair argument. So, should I try upgrading my account to classic or preferred through branch?
You could get a pre approved offer, but the amount can vary. Much of it is an uncertainty.
Instead of waiting for auto upgrade, get it done through family group or by filling form.
for asking noob question: what's the benefit of having approved car loan?
As far as I noticed, pre-approved loan offers from HDFC always have higher interest rate than what u can negotiate by visiting the branch physically. Never go full digital for car loans.
Getting pre approved loan within 8 week would not be easy. It's better to negotiate to RM regarding the loan amount and ROI.
Actually, I'd a 15L pre approved offer till last month. Now, it just vanished.
Getting Car loan is pretty easy. Please shoot me a dm. Whats your ITR ?
Believe me there is nothing called Pre-approved car or home loan ...
Its given to everyone who is eligible.
Even if the offer is not shown it does not mean that HDFC wont give you when you apply and vice versa.
Honestly speaking, you are dealing with a simple problem in a lot of convoluted ways.
Fully in agreement with @Sudarshan61 , that pre-approved loan is a myth. @prem4998 is absolutely right that , the so-called "pre-approved" loans do charge you a heftier (and non-negotiable) interest rate.
Why bother about upgrading savings account (thereby keeping a huge sum of 2L/5L as hostage to the bank for a puny return)? You can simply check current best rates on bankbazar etc. (although quite spammy, use a secondary mobile number) and then apply directly through that bank or NBFC.
That will reduce the number of hard enquiries on CIBIL, besides ensuring best rates.
Irrespective of that I park at least 3L in my citibank account always. I've few FD's in other banks but don't want to break them.
I've an Infinia metal card with HDFC however since it's not my salary account secured loans are difficult as I see.
With HDFC I was offered 8.5% up to 100% of ex-showroom till last month. Don't know how it got refreshed so soon. Other NBFC IIRC offer higher interest rate and more processing fee.
@harshakollipara90545 - Why not talk it out with your RM and tell what you exactly need. But make sure you don't them that you are going to it from HDFC only...Let them come to you for your need since you're already a premium customer.
Btw, which car are you going to purchase?
Mine is just a standard account but my brother's is a Imperia. RM(for imperia) asked me what I'm looking for I just said better service.
I don't think it's a better way to ask for auto loan right away in the first meeting. Let's see once the upgrade is done. Today I pinged him and he said I'll get an OTP confirmation before the upgrade to preferred. Let's see.
I'm hooked up on Altroz XZ+ Diesel but Nexon XZ+ Diesel is a strong contender. Any other suggestions around 12L budget?
Suggest to check with the bank for 4 wheeler loan eligibility directly without the hassle on netbanking validation
Upgradation from classic to imperia/preferred totally depends on the bank balance and at solely at bank discretion which happens automatically without our interference or request
@edges Got the link and submitted consent. He said by tomorrow or monday it will be done.
Hello everyone,
Last night I've got a call from another RM(exclusively for preferred as per him) of HDFC and he asked me to click on the link sent over my mobile to submit consent for preferred upgrade and he said the upgrade will be done by Monday.
Voila, today casually logged into the netbanking and boom it's preferred.
Thank you all for your valuable inputs and support. Will keep you updated.
@ontherocks @10ven @Maverick_23 @prem4998 @whyareyouhere @piyush2251 @Tradingfriend @HiDEaL @MrKool_JJ @edges
Hello all,
A small update. From the preferred, I've got the Imperia update today. Thank you all for the support and suggestions. Thanks again.
@ontherocks @10ven @Maverick_23 @prem4998 @whyareyouhere @piyush2251 @Tradingfriend @HiDEaL @MrKool_JJ @edges
Congrats
Write to customer care that you are looking for a car loan and what is the current rate, etc, etc. That will trigger in their system that you have such a requirement and possibly start showing up in the "Offers" tab
Hello all,
After a couple of waiting and changing the variant bookings. Finally, I've taken the delivery of my Tata Altroz XZ+(S) 1.5 Diesel Manual in Downtown Red. Got a pre-approved car loan from ICICI and the process was smooth.
Thank you all for you support and suggestions. These days.
 group increases my chances of a pre approved car loan? for Rs. at ){kind=link}
As far as I know, the offers one gets in the offers section under Netmaking in a family account is applicable to the primary holder.