HDFC Bank is going to implement new rules for its Preferred Customers from October 1. The bank has expanded the Preferred Banking Eligibility Criteria.
Banks provide personalized banking services to their select customers. These are often high net worth customers. The country’s largest private bank HDFC Bank also provides Preferred Banking services to some of its special customers. HDFC Bank is going to implement new rules for its Preferred Customers from October 1. The bank is expanding the conditions necessary to avail the benefits of Preferred Banking services.
These conditions have to be fulfilled
HDFC Bank has expanded the Preferred Banking Eligibility Criteria. Customers will be considered Preferred Customers based on their Total Relationship Value (TRV). For this, it is necessary to fulfill any one of the conditions given below:
If you have a savings account in HDFC Bank, then you will have to maintain a minimum average monthly balance of Rs 4 lakh.
For current account holders, the minimum average quarterly balance should be Rs 6 lakh.
If there are multiple accounts, then the combined average monthly balance of all retail liability accounts should be Rs 20 lakh.
If you have a corporate salary account, you can become a preferred customer only if you get a net salary of at least Rs 2 lakh every month.
There is also a provision to provide this facility to those who maintain TRV of Rs 50 lakh or more.
What is TRV?
TRV stands for Total Relationship Value. It includes all the money deposited in the bank by you in any form (under a customer ID). This amount can be in savings account, current account, FD, outstanding loan account or any other type of investment (such as mutual fund) etc.
What facilities do Preferred Customers get?
The bank provides a relationship manager to such customers. He helps you in using banking related services. Whether it is taking a personal loan or a forex card or any other service of the bank, the relationship manager helps you in this. Preferred customers also get special offers for facilities like forex, demat, trading and locker. Along with this, charges like cash withdrawal from non-HDFC ATMs and free balance inquiry are also waived for such customers. Apart from this, the bank also gives HDFC Premium Credit Card and Preferred Platinum Debit Card to preferred customers.
