Should I downgrade my HDFC special gold account to regular before I apply for classic banking?

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Kochiro

RM advises not doing it as it will affect her portfolio but I read that classic accounts with special gold gets downgraded easily for not maintaining 1 lac. She assure that this won’t be the case as it’s up to her to downgrade the account.

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What is classic banking? Benefits

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InvestPotato wrote:

What is classic banking? Benefits

<a href=“”video youtube">

" target=“_blank” rel="nofollow">HDFC classic banking

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InvestPotato wrote:

What is classic banking? Benefits

basically all charges become nil including debit card and you get Relationship Manager. You can include your family in it and they get all classic banking benefits.

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Kochiro wrote:

asking for help @sujith8786 @prem4998 @Fanil @Manitian

My RM insisted me on opening gold speciale + classic but I only wanted normal or SB max + classic so I went with SB max + classic. Ask her to make your account zero balance. If she does, then no worry for non maintenance and u can keep the gold + classic without maintaning 1L but you need to actively use the account for transactions to keep the classic relationship.

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prem4998 wrote:

My RM insisted me on opening gold speciale + classic but I only wanted normal or SB max + classic so I went with SB max + classic. Ask her to make your account zero balance. If she does, then no worry for non maintenance and u can keep the gold + classic without maintaning 1L but you need to actively use the account for transactions to keep the classic relationship.

By active means credit card usage counts ?

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Kochiro wrote:

By active means credit card usage counts ?

No. Fund transfer, Upi and debit card transactions

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Kochiro wrote:

asking for help @sujith8786 @prem4998 @Fanil @Manitian

If you can maintain 25k.. then savings max is good..
But as I read in dd..many people commented that classic or preferred account doesn’t downgrade easily..
So if you plan to keep 1 lac for more than 4 or 5 months.. choose classic..
And as said by @prem4998 u can downgrade to zero balance account

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sujith8786 wrote:

If you can maintain 25k.. then savings max is good..
But as I read in dd..many people commented that classic or preferred account doesn’t downgrade easily..
So if you plan to keep 1 lac for more than 4 or 5 months.. choose classic..
And as said by @prem4998 u can downgrade to zero balance account

yes it’s already been 3 months for my special gold account. I will keep it 1 lac + till the fiscal year ends.

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I don’t see any benefits for classic account apart from zero balance. Just for this benefit only, I have even converted my spouse account to classic family as well. Anyway I don’t keep much balance due to lesser Interest rates.

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Kochiro wrote:

asking for help @sujith8786 @prem4998 @Fanil @Manitian

If you get gold special account benefits each year and it is really useful to you only then i suggest you keep it otherwise simply downgrade it and apply classic account because maintaining 1L is not useful

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Manitian wrote:

I don’t see any benefits for classic account apart from zero balance. Just for this benefit only, I have even converted my spouse account to classic family as well. Anyway I don’t keep much balance due to lesser Interest rates.

My dad has classic account and for my sister’s account opening the bank person came to our house.. apart from that you get free debit card, easier and more pre-approved credit card offers

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Fanil wrote:

My dad has classic account and for my sister’s account opening the bank person came to our house.. apart from that you get free debit card, easier and more pre-approved credit card offers

Good for you. For me, its just normal account. My account is 17 year old, and i already hold Diners black but they are not offering Infinia.
It’s still my salary account, and I will change soon if they don’t offer Infinia.

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Fanil wrote:

If you get gold special account benefits each year and it is really useful to you only then i suggest you keep it otherwise simply downgrade it and apply classic account because maintaining 1L is not useful

It is not useful at all but RM insisted on keeping it and assured me that account will not get downgraded or have charges. Can I change account  type after becoming part of classic?

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Fanil wrote:

My dad has classic account and for my sister’s account opening the bank person came to our house.. apart from that you get free debit card, easier and more pre-approved credit card offers

Are all classic accounts deemed as zero balance or RM has to convert it to zero balance?

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cadence wrote:

Are all classic accounts deemed as zero balance or RM has to convert it to zero balance?

All become zero balance. However, if you maintain less than 1L there are chances depending on your RM that your account can be downgraded and you may need to maintain balance accordingly

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Does it matter what my account type is before I get into classic banking ? My mom’s account RM says I should change my account from youth to regular before keeping it as main account for family group. Does it matter what my account varient is and should I change my youth account to regular or max before joining classic banking ? @sujith8786 @prem4998 @Fanil @Manitian

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Kochiro wrote:

Does it matter what my account type is before I get into classic banking ? My mom’s account RM says I should change my account from youth to regular before keeping it as main account for family group. Does it matter what my account varient is and should I change my youth account to regular or max before joining classic banking ? @sujith8786 @prem4998 @Fanil @Manitian

Can’t help here. Unfortunately I don’t have much info here

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Kochiro wrote:

Does it matter what my account type is before I get into classic banking ? My mom’s account RM says I should change my account from youth to regular before keeping it as main account for family group. Does it matter what my account varient is and should I change my youth account to regular or max before joining classic banking ? @sujith8786 @prem4998 @Fanil @Manitian

No idea about this bro..
I’m the only one in the family with hdfc account..
Mine is normal savings account with 10k Amb..
Upgraded to preferred banking just 2 days back..

Edit: is ur account opened when you were under 18 yrs?.
If so it’s good to regularise ur account so that u can get full control on your account

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Kochiro wrote:

Does it matter what my account type is before I get into classic banking ? My mom’s account RM says I should change my account from youth to regular before keeping it as main account for family group. Does it matter what my account varient is and should I change my youth account to regular or max before joining classic banking ? @sujith8786 @prem4998 @Fanil @Manitian

I don’t think so.. it shouldn’t matter since by upgrading relationship you are maintaining 1L which makes it a better deal for bank as they have to pay low interest.

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sujith8786 wrote:

No idea about this bro..
I’m the only one in the family with hdfc account..
Mine is normal savings account with 10k Amb..
Upgraded to preferred banking just 2 days back..

Edit: is ur account opened when you were under 18 yrs?.
If so it’s good to regularise ur account so that u can get full control on your account

no its youth account (AMB 2500rs) but sole.

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thats true but I am not gonna keep 1 lac in it once they upgrade it to classic😛 @fanil

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Kochiro wrote:

no its youth account (AMB 2500rs) but sole.

Oh.. then seriously no idea bro

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Kochiro wrote:

Does it matter what my account type is before I get into classic banking ? My mom’s account RM says I should change my account from youth to regular before keeping it as main account for family group. Does it matter what my account varient is and should I change my youth account to regular or max before joining classic banking ? @sujith8786 @prem4998 @Fanil @Manitian

If you are above 24 or 25 then it’s better to change to regular account type but i don’t think it’s mandatory for family banking.

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I got preferred banking invitation via WhatsApp shall i accept or reject it. 

Minimum balance criteria is 2lakh, but my account is zero balance salary account. 

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