Increasing NRV with HDFC/Other banks
- 5919
- 22
-
- Last Comment
I want to increase my Net Relationship Value (NRV) with HDFC/other banks by doing in my SIPs of those particular banks' funds to their own broker. For example, invest in HDFC Nifty Fund through HDFC portal, Axis Nifty 100 through Axis etc. instead of using Zerodha.
1. Does this help increase my NRV?
2. If it does, will it help get better CCs/offers or access to their premium offering like Imperia/Burgundy? This is the whole point of me trying to increase NRV
3. It's not clear how I should invest for increasing NRV. HDFC NetBanking or will HDFC AMC directly also count towards NRV?
4. How are charges for these? It's very opaque. Especially through NetBanking instead of AMC. I read that investing in the banks own MF is usually free but I can't verify it.
- Sort By
no idea bhai
Please confirm with HDFC RM before doing so, as per online they dont consider Mutual fund or securities as part of NRV
Axis is not worth the time. ICICI do consider mutual fund/Insurances/securities as part of NRV
Effective 9th December 2017 the Eligibility for programme is given below:
Imperia Banking Eligibility Criteria*
A minimum Average Monthly Balance of Rs. 10 Lac in the Savings account
OR
A minimum Average Quarterly Balance of Rs. 15 Lac in a Current Account
OR
A minimum Average Monthly Balance of Rs. 30 Lac in a combination of Savings Accounts and Fixed Deposit
Balance is measured as a combined balance across account/s linked to your Customer ID or over the account/s of other customers linked to your “Group” (as defined in the HDFC Bank Programme Terms and conditions). The tenor of the Fixed Deposits should be at least six months. HDFC Bank Programme Terms and Conditions Apply
+1
You should discuss with your bank account’s RM to find out what makes you eligible for your needs/requirements. From my understanding, mutual funds in those respective banks won’t increase your NRV.
Whats your purpose bro? I don’t think this will help you in anyways. Bank, amc, brokers are different entities.
And how will u transact or monitor everytime? Better keep single channel for investment
I can’t speak for all banks but for ICICI, if you do mutual fund investments via their portal, they consider it part of NRV. For HDFC, you’ll need to do investments via HDFC Securities since it’s mapped to a common relationship id.
Do talk to your RM in those banks regarding you wanting to upgrade your relationship with the bank. In the end they’re just regular sales/ product associates who’s job is to get you in a boutique of financial products by the bank. They’re targets are varied as set by their region managers so our answers here might not actually match. Also stay away from ULIPs, annuity plans
The main purpose is to get CC upgrades mainly LTF. Better bank account would be a bonus.
any idea on question 4? Charges related to investing through their apps for their own MFs
+🔥
First I was actually going to lightly criticise u saying ur innovative ur invent ur own acronym … on DD (desidime) ppl use DND for Dost N Dimes… COO for Chief Online Officer… etc 😛😬😀
But then good send prevailed I googled and actually such a term exists! I always knew NRV to be Net Realisable Value (used in accounting especially for stock in trade). So TY I learnt a new term welcome to DD and 30 Karma 🛐✝️ given 😊
No guarantee…
But it improves the chance.
It will be if u do it via bank, sip if u want to invest direct then u have to do with hdfc amc which is seperate from bank so no change if u do via zerodha or direct
Bank have no role in it and wont get any commision from amc. So for them its same
Your TRV is your cash balance (savings/current) + Deposit (FD/RD), + Investment (Demat/MF). But for Demat/MF, you’ve to open an IRA account with them. And all MF purchased will NOT be direct purchase, here HDFC bank will be ‘agent’ for HDFC Securities / AMC. -As per my RM.
So you’re saying it’ll be a regular plan instead of direct?
Very poor idea. Every year you will pay 1% extra as commission so in 20 years u will gift 20% of corpus to them
@bikidas2060 @malikcool can you help him provide info please?