ontherocks
TF Premier
1. You have to be an NTB
2. Apply and get Wealth CC
3. Get 0 MAB account offer in WhatsApp after a week or so
4. Apply via the custom link in WhatsApp
5. Bonus: Convert that to Wealth == true zero balance Wealth account
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IDFC First Wealth Account Eligibility Requirement and Benefits - Discussion
- Thread starter Quantum
- Start date
2. Apply and get Wealth CC
3. Get 0 MAB account offer in WhatsApp after a week or so
4. Apply via the custom link in WhatsApp
5. Bonus: Convert that to Wealth == true zero balance Wealth account
sahil1033
TF Premier
so sorry, I didn't read the whole thing and mistook it for ZERO MAB Wealth savings account whereas you've mentioned about savings account ... yes, what you've mentioned is exactly my case but I don't know if they're offering it right now or not
even I took Wealth CC first
then got offer over WhatsApp for ZERO MAB savings account (10k MAB variant)
opened the 10k savings account as ZERO balance account
later on, funded account with Rs. 10L and got it converted to Wealth savings account
those were temporary funds anyway, utilized elsewhere and now I don't maintain Rs. 10L in savings account
Himanshuch
TF Premier
Hello. An IDFC branch in delhi has agree to open wealth account for me with 5L initial finding. He also told me I'll have to maintain 5 lakhs (and not 10L) going forward. Has anyone managed to get wealth account with lower funding and TRV less than 5 lakhs ?
Can you please ask them and let me know about IP for select as well, as I am looking to open it aswell in my town and your input would help me negotiate.
secondly, I guess maintaing 5lacs is a false claim, as per the info I was able to garner from the forum the MAB is dependent on your base IDFC account which is either 10k/25k, their is only IP for getting these accounts then you don't need to maintain such hefty amounts.
Himanshuch
TF Premier
Oh I see. Is there a way to get this confirmed officially? Coz I also don't wish to keep 5 lakhs going forward just for wealth account.
Himanshuch
TF Premier
He initially quoted 3 Lakhs for select. But I'm sure after negotiation he will agree for 1-2 lakhs as well for it.
1L + IF will do the work
Understood Anindya.
I guess you were the one I got to know about the MAB requirements, can you please help and confirm it with this gentlemen as well.
Refer to the thread for all the answers you’re looking for. I already answered @Himanshuch in a different thread.
Got Wealth by sending mail to PNO. I already opened a 10k minimum balance savings account 3 months back digitally and have IDFC Wealth CC. Sent a mail to PNO asking to update to select account. They mailed me back asking me to get in touch with branch but i argued i opened this account digitally so why they are asking to visit branch now.
And branch people called and told me they are considering my account for wealth. I have maintained only 1L balance in account so not sure what criteria they have upgraded to wealth. So pretty easy experience in my case to get upgraded to wealth account!
And branch people called and told me they are considering my account for wealth. I have maintained only 1L balance in account so not sure what criteria they have upgraded to wealth. So pretty easy experience in my case to get upgraded to wealth account!
Himanshuch
TF Premier
That's strange. And in my case branch guy told me that I must maintain 5 lakhs to maintain wealth status. Although group members told me that they don't downgrade that easily.
Getting wealth account with 1 lakh MAB is a good deal.
Getting wealth account with 1 lakh MAB is a good deal.
One person called me and told me to maintain 10L in account and i will get notification from bank for auto upgrade but another lady called me about consent for upgrading account to wealth. I also recently paid 3L credit card bills via classic IDFC debit card too and that could have helped but not sure.
But the lady did ask me to maintain 10L monthly balance
Maintaining 10L is only needed till you get upgraded.
Once you're upgraded to select or wealth, you just need to maintain 10k/25k as per your base account at the time of opening it.
This is bank policy as per some people here who told me about this.
Himanshuch
TF Premier
I think we should call customer care and ask what are the T&C related to maintaining wealth/select status. Bank branch may mislead us to meet their targets.
there's a 30 page thread regarding this. but you want to ask a call centre person for accurate TnC. go ahead & enlighten us.
Himanshuch
TF Premier
To each his own !
Well, we cannot challenge IDFC branch based on a 30 page thread. But we can surely challenge the branch based on official reply from idfc bank customer care.
ok so which is why its still showing 10k account and showing first wealth in app. Got it
Yup, most probably.
sambitpatro
TF Premier
Idfc branches have different criteria depending on the location. If u ask in Mumbai or other metro cities they will ask for maintaining 10l for 3 months. But I got upgraded to wealth by maintaining only 5l for 3 months as advised by my branch official in a tier 3 city... Once upgraded u don't need to maintain any balance as it's a zero balance wealth account but don't know for how long. Idfc may suddenly start sending mails for maintaining minimum AMB