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IDFC first select banking program

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Harsha2000

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I have the required 3 lakhs in my idfc acct but according to bank manager, associates and tele banking officer still there is no option to upgrade I need to maintain the balance for 3 months when I will be able to apply for the upgrade. Can anybody confirm this? Is this true and according to them as I have a account in rural branch I can't upgrade but they also say that they don't have the home branch concept. They are sending multiple messages across. Does anyone agree and by the way if anyone is using this account I would like to know the response and service of the staff and their knowledge ?
 
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These banks are so inconsistent. Just yesterday my RM told that I’m not eligible for select program upgrade as my previous 3 month balance is just about 3 lakh and I need to maintain 5 lakh for 3 months. Lol.
 
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Got upgraded to the Select banking program automatically a few days back.

Have a 5+ yrs old Salary account though which has been getting a 6 digit salary every month. Had also got a pre approved IDFC Select CC too a year+ back.

Usually don't maintain much balance in the account but last month (when the Select program invite / upgrade got triggered), I had for the first time kept around 1L balance for an entire month.

As for the upgrade itself, got a call from my newly designated RM introducing himself & the program. He triggered an SMS from which I had to click the acceptance link to give my formal consent. Did so post the call. All this happened around 2 Jan itself.

Almost 3 weeks later, I can see the virtual Select DC in my login but not got the physical kit yet. Seems to be taking quite a while for a simple card delivery.

Anyways, not sure what or how the upgrade got triggered in my case but ya have anyways laid out my scenario above.
 
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sameerdes said:
Got upgraded to the Select banking program automatically a few days back.

Have a 5+ yrs old Salary account though which has been getting a 6 digit salary every month. Had also got a pre approved IDFC Select CC too a year+ back.

Usually don't maintain much balance in the account but last month (when the Select program invite / upgrade got triggered), I had for the first time kept around 1L balance for an entire month. Got a call from my newly designated RM & he triggered an SMS from which I had click the link to give my formal consent.

Can see the virtual Select DC in my login but not got the physical kit. Seems to be taking quite a while for a simple card delivery.

Anyways, not sure what or how the upgrade got triggered in my case but ya have anyways laid out my scenario above.
Click to expand...
Plz share the contact number of the RM it'd be great help
 
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how do i get my IDFC RM number, a person called from the IDFC bank a while back i don't remember who and i have a iPhone so it won't keep a call list of over 100 calls so that number is gone! any other way.. or need to visit the offline branch but have little hope of succeeding there. it seems that for a minimum 3 months, i would try to keep 10lakhs AQB and wait for the auto upgrade.
 
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HumorSimpson said:
@#aniket , @vaibhav111

How to get IDFC select account if not wealth . Currently I hold their wealth CC.
Click to expand...
@HumorSimpson Select, Wealth are not bank account rather it's banking relationship/wealth program like HDFC have.

Yes you can negotiate with the BM/RM before opening bank account, can get select with 3L IP depends upon the branch or after opening 10k/25k AMB A/c and can upgrade with 3L or so based on negotiation.
 
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HumorSimpson said:
Can you please explain in detail?
Click to expand...

IDFC Savings Account Programs​

IDFC offers two savings account programs based on Monthly Average Balance (MAB) requirements:
  1. 10K MAB Account – Requires ₹10,000 MAB.
  2. 25K MAB Account – Requires ₹25,000 MAB.

How to Open an IDFC Account​

  1. Open an IDFC account online.
  2. Select either the 10K MAB or 25K MAB account option.
  3. Your account will be created based on the chosen MAB requirement.

Account Upgrade Process (Digital Route)​

To upgrade your account to Select or Wealth, you must maintain a higher MAB for a certain period:
  • Select Upgrade: Maintain ₹3 lakh MAB for at least 3 to 6 months (1-2 quarters).
  • Wealth Upgrade: Maintain ₹10 lakh MAB for at least 3 to 6 months (1-2 quarters).

  • If the required MAB is maintained for the specified duration, your account will automatically upgrade to Select or Wealth. If not, your account will continue under the original 10K/25K MAB program.
Note: This digital process can take time for the upgrade to reflect based on your MAB.

Faster Account Upgrade (Via RM/BM)​

  1. Visit a nearby branch or contact a virtual RM (Relationship Manager) or BM (Branch Manager).
  2. Negotiate with them directly—they may request an Initial Placement (IP) of ₹10 lakh, Fixed Deposits (FD), or ULIP investments.
  3. Based on the deal, your account can be upgraded to Select or Wealth within 1 month.
Note: This route is faster because the RM/BM can expedite the process.

Important Note​

  • Account Downgrade: If you fail to maintain the required MAB, your account can be downgraded at any time. Proceed with caution.
helloworld

Post in thread 'Downgrade experience on HNI Banking Programs!'

Here is the thing, I hope you know little bit about tech and human mindset..

Downgrade usually happens, when

1. Required balance not maintained. // none of the HNI accounts are technically 0, they have always link with surrogate - so you have to keep something. 0 balance accounts actually BSBDA accounts not HNI accounts.

2. When RM or person managing our account reviews and decided to downgrade. // either keep a contact with them or satisfy their targets to keep continue.

3. When System downgrades automatically. // some backend software update suddlenly changes your account variant...
  • Like
 
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HumorSimpson said:
@#aniket , @vaibhav111

How to get IDFC select account if not wealth . Currently I hold their wealth CC.
Click to expand...
Some of user have already answered, it simple keep 10L for a month and Ask for upgrade for wealth that what I did. It wa rejected once but I gave a shot via call to my rm and it was upgrade in feb of 2024.
 
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HumorSimpson said:
Will they downgrade if we don't maintain the balance later?
Click to expand...

they do
helloworld

Post in thread 'Downgrade experience on HNI Banking Programs!'

Here is the thing, I hope you know little bit about tech and human mindset..

Downgrade usually happens, when

1. Required balance not maintained. // none of the HNI accounts are technically 0, they have always link with surrogate - so you have to keep something. 0 balance accounts actually BSBDA accounts not HNI accounts.

2. When RM or person managing our account reviews and decided to downgrade. // either keep a contact with them or satisfy their targets to keep continue.

3. When System downgrades automatically. // some backend software update suddlenly changes your account variant...
  • Like
 
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