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IDFC First Wealth Banking (First Select account) criteria
- Thread starter codenerd
- Start date
Apart from lounge access 1+1 nothing much to consider it seems.
For lounge access & BMS offers have so many more credit cards.
I wasn’t maintaining the required NRV for select banking which they upgraded last year. If they downgrade I won’t probably make efforts to fill in back
For lounge access & BMS offers have so many more credit cards.
I wasn’t maintaining the required NRV for select banking which they upgraded last year. If they downgrade I won’t probably make efforts to fill in back
If you are already an existing customer and upgraded to Wealth Program (welath/select) then you need to maintain the AMB with which the account was opened say e.g. 25K and not the AMB mentioned in the jpg image shared.
As for the benefits as asked by some. Think IDFC offers one of the best debit card features like enhanced limits, insurance protecton, Lounge access with companion, RSA, Golf lessons/games (Wealth variant has it, not sure about Select).
As for the benefits as asked by some. Think IDFC offers one of the best debit card features like enhanced limits, insurance protecton, Lounge access with companion, RSA, Golf lessons/games (Wealth variant has it, not sure about Select).
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Negative. Wealth Credit Card is provided on your credit limit if you already have IDFC Card. And if you don't have one at present then I'll recommend not to get one till your account is upgraded to Wealth and then try. And IDFC doesn't enhance credit limit on card to card basis; have been trying that for last couple of months.
If you've credit limit of 3 Lakhs then you can ask for upgrade to Select and to Wealth if the credit limit is 5 Lakhs and beyond.
Better to maintain balance of 10 Lakhs than the FD route. As it is IDFC is providing savings account interest of 6.75% for 10 Lakhs and above wef 01 Apr 23 which is comparable to FD ROI what most banks are offering.
It is only for the amount above 10lakh
How about family banking with all family members account having the required AMB? Will each member get this debit card with lounge access?
codenerd
TF Ace
Just confirmed today with multiple folks from IDFC and they clearly mentioned that they dont have concept of FAMILY or GROUP banking! LAME!!!!
Is it? My RM was asking me to add my family member when I was opening account.
codenerd
TF Ace
As an addon account maybe but not as a family/group banking. Addon account you can definitely add but as per famil banking, you cant have multiple individual accounts and club them together. I myself have 3 accounts in family and still dont have FAMILY banking coz IDFC doesnt have that facility only. Got it confirmed over call today.
ashishsinghi
TF Select
what is the difference between add on and family linked saving accounts?
Even wealth has amb of 25k only which can be easily maintained
codenerd
TF Ace
My sister recently got auto upgraded from normal account to First Select (Wealth banking) account which comes with Blue color Visa Infinite debit card. Over the call I myself confirmed with the RM before upgrading and she clearly stated that its a 0 MAB account now that its upgraded. Earlier she was having minimum 25k MAB account.. Even in the app it will show as blue theme now instead of maroon/red
codenerd
TF Ace
She was maintaining 3-5 lakhs daily balance for couple of months thats what triggered automatic upgrade.
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