IDFC First Bank Launched its Debit Card Reward System

[Chaitanya-a]

Just checked even I see 4000 points. Is it just the welcome bonus?

Yes. For Select Debit card. Redeem it for ₹1k Amazon pay GV

 

[VijayflyRaven]

I was thinking the same! Will make use of it before they figure it out 🤣

Actually I found the answer. Before I deleted it, you replied 🙂

It seems the 10x is only for spends on their website. That is 10 x 0.5 for the lowest and 10x1.5 for private.

 

[VijayflyRaven]

how can one apply for IDFC VISA PRIVATE DEBIT CARD?

My branch said 50 lakhs for upgrade.

 

[Chaitanya-a]

how can one apply for IDFC VISA PRIVATE DEBIT CARD?

3L funding- IDFC Select
10L funding- IDFC Wealth
50L funding- IDFC Private

 

[CC-Muncher]

3L funding- IDFC Select
10L funding- IDFC Wealth
50L funding- IDFC Private

ab ghar bechenge kya private ke liye 🤣🤣🤣

 

[CC-Muncher]

ab ghar bechenge kya private ke liye 🤣🤣🤣

Private card's name should be changed to "Out of my League"

 

[VijayflyRaven]

Private card's name should be changed to "Out of my League"

If someone is selling a property, they can probably use that opportunity to park that fund for few months and make it private and then go back to lower MAB.

 

[Deathsnatcher]

If someone is selling a property, they can probably use that opportunity to park that fund for few months and make it private and then go back to lower MAB.

only if they are willing to give property tax lol

 

[jack333]

If someone is selling a property, they can probably use that opportunity to park that fund for few months and make it private and then go back to lower MAB.

Private can be got if you have 10-20l mf investment through idfc

 

[Ankur dhanda]

only if they are willing to give property tax lol

You have 2 years to make use of that money before paying any tax 😬💸💸

 

[Deathsnatcher]

You have 2 years to make use of that money before paying any tax 😬💸💸

Seems like i will pass too much hassle for just a debit card.

 

[Ankur dhanda]

Seems like i will pass too much hassle for just a debit card.

I Definitely agree with you in that.
But some others may want it by anyway possible if they have 💸💸 flying around 🤷🏻‍♂️

 

[VijayflyRaven]

Private can be got if you have 10-20l mf investment through idfc

You will pay 1% indirectly as fees to bank (distributor). So you pay them 20k. If you purchase same mutual fund through direct (like zerodha coin or mutual fund website), you don’t pay that 20k.

Always buy direct mutual fund and save 1 to 2%

 

[krishc]

You will pay 1% indirectly as fees to bank (distributor). So you pay them 20k. If you purchase same mutual fund through direct (like zerodha coin or mutual fund website), you don’t pay that 20k.

Always buy direct mutual fund and save 1 to 2%

yes this is a very important distinction most people miss in MFs
always invest in Direct funds

 

[jack333]

I think via upstox and groww is also without commission

 

[Chaitanya-a]

I think via upstox and groww is also without commission

Its available everywhere. We just have to select Direct plan instead of Regular.

 

[technom]

I checked with both HDFC and IDFC banks. they only offer normal mutual funds and don't have the option to change to Direct funds

 

[Chaitanya-a]

I checked with both HDFC and IDFC banks. they only offer normal mutual funds and don't have the option to change to Direct funds

PSU is better in this case. I bought direct funds via SBI MF. They have this option.

 

[VijayflyRaven]

PSU is better in this case. I bought direct funds via SBI MF. They have this option.

All mutual funds offer direct option if you use AMC website. However if you use a bank like sbi/ hdfc, then they want to earn money and won’t offer direct.

SBI MF is AMC and not a bank. If you use SBI bank, I don’t think they will offer direct.

Similarly HDFC bank won’t allow direct investment. However HDFC AMC will allow.

 

[technom]

How do you go with HDFC AMC instead of HDFC Bank