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IDFC First Bank saving account Review
- Thread starter Santhosh
- Start date
Hdfc is pension
Idfc is stock matket
Thread 'Best Debit Card For Credit Card Bill Payment 2024' https://www.technofino.in/community/threads/best-debit-card-for-credit-card-bill-payment-2024.26178/
maheshspanicker
TF Premier
IDFC has a serious confusion about the F in their name, often thinks its for Freeze! So not a sound option for emergency funds. Also, once there is a freeze, you have to visit branch, and then keep waiting for them to get it sorted. And they freeze for no legitimate reasons, just because you do UPI transactions, particularly creditt transactions. Don't think the freeze issue is about not showing higher income levels, I had mentioned 3000000, and yet had to go through the nonsensical process.
Still keeping the account though. Though I hardly use debit card, their reward program on DC isn't bad. Also, they are good more often than not, on the tech side of things. The SB interest rates, for higher amounts is close to FD rates. So if you don't do too many UPI transactions, if you wouldn't mind the inconvenience of a freeze drama and everything afterwards, if you have funds to park for non-emergencies, then IDFC isn't a bad option.
Still keeping the account though. Though I hardly use debit card, their reward program on DC isn't bad. Also, they are good more often than not, on the tech side of things. The SB interest rates, for higher amounts is close to FD rates. So if you don't do too many UPI transactions, if you wouldn't mind the inconvenience of a freeze drama and everything afterwards, if you have funds to park for non-emergencies, then IDFC isn't a bad option.
shenoyanil98
TF Select
I opened my account during lockdown, My experience is very good with lots of vouchers recieved in the initial days, Mobile App was the best with everything present in the app itself
Now I have made it as my primary account upgraded to wealth status, I had accounts in different banks but no bank gave me so much back as this bank did.
It gave me my first credit card also when they just launched and upgraded now to wealth but no use after the latest devaluation.
I read so much about freeze in this forum which scared me also and I have shifted all my upi to SBI
But personally I have the best experience with IDFC
Now I have made it as my primary account upgraded to wealth status, I had accounts in different banks but no bank gave me so much back as this bank did.
It gave me my first credit card also when they just launched and upgraded now to wealth but no use after the latest devaluation.
I read so much about freeze in this forum which scared me also and I have shifted all my upi to SBI
But personally I have the best experience with IDFC
sjmajumder
TF Legend
I disagree...although I am not sure of current situation. I closed my account in Feb 24 and before closing I redeemed my 6933 points.
Even if they have lowest denomination Amazon voucher, you can redeem for multiple vouchers in single transaction. I redeemed for 2 x 1000 in single transaction.
I wasn't charged any reward redemption fee. (I redeemed RP on 2nd Feb and my account was closed on 5th Feb)
I have had an IDFC Wealth account for several years. I haven't had any issues as such. They provided me a Wealth credit card with around 22 lakhs in limit. Overall, it is a mediocre bank. I trust them slightly more than small finance banks as they are larger. So for keeping liquid funds, I generally tend to keep up to 50 to 80 lakhs in each SFB but can go to a few crores with IDFC.
Nevertheless, I don't have any special relationship with anyone there and don't get much privileges. All other banks give me direct access to their Branch Manager and regional managers and I can go sit in his or her office, sip coffee and they get my work done. However, I have never known any IDFC BM too well. They keep changing and don't have proper offices. There have been a few good employees from time to time. One time, my Wealth card was wrongly canceled by IDFC and absolutely no one helped or even responded despite being a Wealth client with a decent NRV. I have some demat, bonds and SGBs with the as well. Still, they just removed my credit card from the app and netbanking and no one even informed me. They did not respond to any emails at all, not even those addressed to their senior team and nodal officer. It was fixed with a lot of effort. That's why I consider them mediocre. Attached below is my typical savings balance with IDFC. At least they have never frozen my account!
Nevertheless, I don't have any special relationship with anyone there and don't get much privileges. All other banks give me direct access to their Branch Manager and regional managers and I can go sit in his or her office, sip coffee and they get my work done. However, I have never known any IDFC BM too well. They keep changing and don't have proper offices. There have been a few good employees from time to time. One time, my Wealth card was wrongly canceled by IDFC and absolutely no one helped or even responded despite being a Wealth client with a decent NRV. I have some demat, bonds and SGBs with the as well. Still, they just removed my credit card from the app and netbanking and no one even informed me. They did not respond to any emails at all, not even those addressed to their senior team and nodal officer. It was fixed with a lot of effort. That's why I consider them mediocre. Attached below is my typical savings balance with IDFC. At least they have never frozen my account!
Lol you can have private wealth
If you want I can give you a bank employee number
If u have 1 cr in idfc
Take it and explore and enlighten us 🙃
If you want I can give you a bank employee number
If u have 1 cr in idfc
Take it and explore and enlighten us 🙃
Cc_creditguy
TF Premier
Does idfc future first acc give joining benefit 1000 rp I haven't received any mail??
2000 rp .
Okie 👌. But dc seems nice so is lounge but yeah nothing else
Bud you waiting for what mail
Ceo.to.say you will get 2k rp
Just do 1k + first transaction on dc
Point will be credited in 10-15 days max
Till date facing the same issue
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