IDFC Select Vs Wealth Vs Private requirements

[_amit_]

I don't think that will work. Customer care will always tell u to approach ur home branch

Used to work few months ago.
Also IDFC can send the team member at home, but that might depend on relationship and other factors.

 

[BVCBVC is verified member.]

you need to first have a word with rm she/he would check your account and then will ask you xyz amount is needed no certain 50L is actually needed it could be more or less depend on your account history n trnx. Would recommend private isn't needed

I had word with RM before upgrade to wealth he clearly mentioned I can withdraw funds after wealth upgrade. For Private also if it’s the same case I will try

 

[Dragon_slayer]

Can you ask if she will upgrade an existing account with 50L bal? or if we can open a new second account with 50L IP?

You need to maintain for few months until you get upgrade offer

 

[Dragon_slayer]

What is the advantages of private account.Will it be downgraded

You will get a cheque and debit card with Private banking mentioned which you can show off to others

When presented in banks it will give instant charm

 

[vaibhav111vaibhav111 is verified member.]

You will get a cheque and debit card with Private banking mentioned which you can show off to others

When presented in banks it will give instant charm

 

[Sudip]

check this out (eligibility criteria)

IDFC First Bank Private Debit Card (Metal) Experience

IDFC First Bank launched First Private debit card on Visa Infinite, the country's first-ever standalone metal debit card on 30th November 2021. It's a lifetime free debit card designed specifically for customers who are part of the Bank's First Private Program. Eligibility Criteria Exp

www.cardexpert.in

 

[sourpai]

I can maintain the NRV, but unable to find any useful perk over and above IDFC Wealth program and DC to take the plunge.

Even one proper and tangible differentiated benefit can make people go for it. Right now there is none!

 

[HumorSimpson]

I can maintain the NRV, but unable to find any useful perk over and above IDFC Wealth program and DC to take the plunge.

Even one proper and tangible differentiated benefit can make people go for it. Right now there is none!

Correct !!! The DCs have reward rate difference for the first 50K only, over and above its the same 2.5%.
vis-a-vis of DC reward rate for online (excellent for cc bills and tax payments) on the 50K monthly spend.


IDFC Select - 3X = 0.5% = 250 INR
IDFC Wealth - 4X = 0.67% = 330 INR
IDFC Private - 6X = 1.0% = 500 INR

So we are good with even select as the absolute diff in private reward is 250, and its just 80rs when compared to wealth.

Monthly caps on reward points are
30K, 50K, 5L for Select , Wealth and Private respectively.

Considering those into account
Select gives rewards till 3.40 Lakh
Wealth gives rewards till 5.36 Lakh
Private gives rewards till 49.80 Lakh


Still for most , we can settle with Select.

 

[Ak Singh]

Correct !!! The DCs have reward rate difference for the first 50K only, over and above its the same 2.5%.
vis-a-vis of DC reward rate for online (excellent for cc bills and tax payments) on the 50K monthly spend.

IDFC Select - 3X = 0.5% = 250 INR
IDFC Wealth - 4X = 0.67% = 330 INR
IDFC Private - 6X = 1.0% = 500 INR

So we are good with even select as the absolute diff in private reward is 250, and its just 80rs when compared to wealth.


@vaibhav111 - correct me if I haves missed out anything.

But in wealth account you get locker facility too.

 

[HumorSimpson]

But in wealth account you get locker facility too.

Heard that , it is hard to get in cities. Some new branches could be an exception though.

 

[imdjay]

Correct !!! The DCs have reward rate difference for the first 50K only, over and above its the same 2.5%.
vis-a-vis of DC reward rate for online (excellent for cc bills and tax payments) on the 50K monthly spend.

IDFC Select - 3X = 0.5% = 250 INR
IDFC Wealth - 4X = 0.67% = 330 INR
IDFC Private - 6X = 1.0% = 500 INR

So we are good with even select as the absolute diff in private reward is 250, and its just 80rs when compared to wealth.


@vaibhav111 - correct me if I haves missed out anything.

The main considerable difference is the monthly cap.

 

[HumorSimpson]

The main considerable difference is the monthly cap.

what are those ? unable to check.

 

[#aniket]

what are those ? unable to check.

 

[HumorSimpson]

View attachment 68547

Got it, will update my post

 

[sourpai]

Wealth DC covers monthly spends of more than ~5.5L. Isse jyada kya spends chahiye?

Also, redemption limit is 20K points per month right? For both Wealth and Private?

 

[BVCBVC is verified member.]

Had a conversation with some dedicated manager and she told me that for Private: 50L Savings bank account balance or 3 Crore investments or 10L net salary credit per month are the basic requirements.

 

[ankitfintech]

I have had 1cr in savings account but I m told I need atleast 50L in investments to get IDFC Private.. I hold IDFC wealth..

Can we get IDFC Private by 1cr purely in savings?

 

[BVCBVC is verified member.]

I have had 1cr in savings account but I m told I need atleast 50L in investments to get IDFC Private.. I hold IDFC wealth..

Can we get IDFC Private by 1cr purely in savings?

As per my conversation with Wealth support 50L in savings account for 3 months should be fine, but discuss with RM on this.

 

[HumorSimpson]

Updated ... with all info

Post in thread 'IDFC Select Vs Wealth Vs Private requirements'

Sep 12, 2024

I can maintain the NRV, but unable to find any useful perk over and above IDFC Wealth program and DC to take the plunge.

Even one proper and tangible differentiated benefit can make people go for it. Right now there is none!

Correct !!! The DCs have reward rate difference for the first 50K only, over and above its the same 2.5%.
vis-a-vis of DC reward rate for online (excellent for cc bills and tax payments) on the 50K monthly spend.


IDFC Select - 3X = 0.5% = 250 INR
IDFC Wealth - 4X = 0.67% = 330 INR
IDFC Private - 6X = 1.0% = 500 INR

So we are good with even select as the...

• HumorSimpson

• 
• 

 

[hellobois]

I had word with RM before upgrade to wealth he clearly mentioned I can withdraw funds after wealth upgrade. For Private also if it’s the same case I will try

Share your RM details in DM. We all need such a good soul in our life