Hey everyone,
I've been using an ICICI current account for my business for a while now. I previously had an HDFC account but switched to ICICI a few years back, which I find to be much better.
I'm considering opening an IDFC Platinum current account since it's closer to me and seems to offer good services. The only drawback is that it requires a ₹2 lakh monthly average balance (MAB), but it functions like an FD with 7.25% interest with an auto-sweep facility for amounts over ₹2 lakh. Although they initially tried to push for a secured overdraft (OD), I negotiated and managed to get an unsecured OD with a minimum limit of 5x my current OD in ICICI Bank. I went through the Platinum account details, and there appear to be several benefits—though I wonder if it's just marketing hype?
I also wanted a Wealth Savings Account since I only had IDFC credit cards and wanted to earn cashback on my monthly bill payments. They agreed to open one with a ₹5 lakh upfront deposit and mentioned that both (Current & Savings) accounts would be created within 2-3 business days. Initially, they will open a ₹25,000 MAB account and upgrade it to Wealth within 2-3 days
I'm looking for suggestions or reviews from those using IDFC accounts, especially for business current accounts. Any other suggestions most welcome!
I've been using an ICICI current account for my business for a while now. I previously had an HDFC account but switched to ICICI a few years back, which I find to be much better.
I'm considering opening an IDFC Platinum current account since it's closer to me and seems to offer good services. The only drawback is that it requires a ₹2 lakh monthly average balance (MAB), but it functions like an FD with 7.25% interest with an auto-sweep facility for amounts over ₹2 lakh. Although they initially tried to push for a secured overdraft (OD), I negotiated and managed to get an unsecured OD with a minimum limit of 5x my current OD in ICICI Bank. I went through the Platinum account details, and there appear to be several benefits—though I wonder if it's just marketing hype?
I also wanted a Wealth Savings Account since I only had IDFC credit cards and wanted to earn cashback on my monthly bill payments. They agreed to open one with a ₹5 lakh upfront deposit and mentioned that both (Current & Savings) accounts would be created within 2-3 business days. Initially, they will open a ₹25,000 MAB account and upgrade it to Wealth within 2-3 days
I'm looking for suggestions or reviews from those using IDFC accounts, especially for business current accounts. Any other suggestions most welcome!
