IDFC Future First Savings Account

[Walter White]

Thinking of opening a Future First Savings Account with IDFC Bank. The services are more or less similar to a premium account at any bank with no MAB or Debit Card charges (Visa Signature is being offered).

Anyone who is using it currently, how has been the experience?

 

[Finchamp!]

How does the IDFC Future First Savings Account compare with an Indusind Exclusive savings Account which has become Zero MAB through Pinnacle/ Indulge CC? 3 points that I know in favour Indusind Exclusive are - (1) it provides higher Rate of Interest upto 5L, (2) allows one to select own 10 digit account number of choice, and, (3) offers preferential pricing on locker.

PS: I am trying to identify those benefits of IDFC Future First which are not present in 0 MAB Indusind Exclusive, so as to decide whether or not I should open the same. I've already confirmed that my institute is eligible.

 

[asyd]

My college was not available in the list so i made him select the different college from the list and later he took the picture of my college id card and uploaded it. Hope it don't make any issue.
@ashrufsyed @Sourabh_13 @varun__goel_ yours college are there in the list?

My institute was listed and I showed him the ID card. No upload was required. Since you said, your institute was not in the list, you had to upload the ID card picture. Otherwise, it isn't required

Since your FF account is already open (based on the app screenshot and the SMS you received, it won't be an issue I think.

 

[asyd]

so how much time does it take for welcome to arrive? and any debit card charges?

My timeline:
I applied on last Saturday in the afternoon.
Account details showed up immediately after the application.
Virtual Debit card showed up on Monday (might have been before that as I did not bother to check)
Got the dispatch message from IDFC yesterday
Received the welcome kit with physical debit card today.

So total 4 days. My location is Bengaluru.

 

[asyd]

How does the IDFC Future First Savings Account compare with an Indusind Exclusive savings Account which has become Zero MAB through Pinnacle/ Indulge CC? 3 points that I know in favour Indusind Exclusive are - (1) it provides higher Rate of Interest upto 5L, (2) allows one to select own 10 digit account number of choice, and, (3) offers preferential pricing on locker.

PS: I am trying to identify those benefits of IDFC Future First which are not present in 0 MAB Indusind Exclusive, so as to decide whether or not I should open the same. I've already confirmed that my institute is eligible.

AFAIK, there are no reward benefits on the IDFC debit card except the one you get for the first 90 days (others can correct me if I'm wrong). You get domestic lounge access and may be Visa signature DC offers on BMS. Only good thing is you don't have to pay for any issuance/renewal charges for the card and no MAB whatsoever. Other than that it is not of much use.

IndusInd Exclusive also you get a zero MAB account (with Pinnacle credit card) and a free debit card (again no issuance/renewal charges but don't remember the variant). The DC gives incremental rewards of ~1% along with any other card offers/benefits. Search in the forum for more details as there are a lot of discussions around this topic.

 

[KingAAR]

AFAIK, there are no reward benefits on the IDFC debit card except the one you get for the first 90 days (others can correct me if I'm wrong). You get domestic lounge access and may be Visa signature DC offers on BMS. Only good thing is you don't have to pay for any issuance/renewal charges for the card and no MAB whatsoever. Other than that it is not of much use.

IndusInd Exclusive also you get a zero MAB account (with Pinnacle credit card) and a free debit card (again no issuance/renewal charges but don't remember the variant). The DC gives incremental rewards of ~1% along with any other card offers/benefits. Search in the forum for more details as there are a lot of discussions around this topic.

you get reward points similar to other classic IDFC cards

 

[Sourabh_13]

My college was not available in the list so i made him select the different college from the list and later he took the picture of my college id card and uploaded it. Hope it don't make any issue.
@ashrufsyed @Sourabh_13 @varun__goel_ yours college are there in the list?

My institute was on the list.

 

[pkpr]

Off topic: Any Kotak expert here? I need help. I'm encountering a very strange problem. Whenever I attempt to apply for a credit card, it shows "Your application is already under process," even though I haven't applied for any credit card in the past. The issue started when I clicked on the FD-backed credit card. Since then, every time I try to apply for any other credit card, it shows that error. Despite having a pre-approved offer, I'm unable to apply through their mobile app, net banking, or website. Can I apply for the pre-approved credit card by visiting the branch?

 

[KingAAR]

Off topic: Any Kotak expert here? I need help. I'm encountering a very strange problem. Whenever I attempt to apply for a credit card, it shows "Your application is already under process," even though I haven't applied for any credit card in the past. The issue started when I clicked on the FD-backed credit card. Since then, every time I try to apply for any other credit card, it shows that error. Despite having a pre-approved offer, I'm unable to apply through their mobile app, net banking, or website. Can I apply for the pre-approved credit card by visiting the branch?

ask the customer care to reset the application.... or just mail some basic nodal officer

 

[pkpr]

ask the customer care to reset the application.... or just mail some basic nodal officer

Can you please provide me the mail address of the nodal officer

 

[varun__goel_]

Off topic: Any Kotak expert here? I need help. I'm encountering a very strange problem. Whenever I attempt to apply for a credit card, it shows "Your application is already under process," even though I haven't applied for any credit card in the past. The issue started when I clicked on the FD-backed credit card. Since then, every time I try to apply for any other credit card, it shows that error. Despite having a pre-approved offer, I'm unable to apply through their mobile app, net banking, or website. Can I apply for the pre-approved credit card by visiting the branch?

Just dm on x, their team will call you and apply card on the call itself.

 

[Astraea]

Unknowingly I have opened salary account with them and salary is not crediting to this bcz I don't want to change it from current one. How can I convert this account to Future Frist? Can any one guide in this regard thanks in advance.

 

[varun__goel_]

Unknowingly I have opened salary account with them and salary is not crediting to this bcz I don't want to change it from current one. How can I convert this account to Future Frist? Can any one guide in this regard thanks in advance.

I don't think anyone has converted their acc to future first. Approach branch for this, or just close the existing one and open new acc.

 

[pkpr]

Just dm on x, their team will call you and apply card on the call itself.

Question i have is that can i apply for the pre-approved CC by visiting their branch?

 

[quino]

I don't think anyone has converted their acc to future first. Approach branch for this, or just close the existing one and open new acc.

i did convert to ff

 

[varun__goel_]

Question i have is that can i apply for the pre-approved CC by visiting their branch?

No idea regarding that. But what's the need to visit branch? Just do as I said. They will call and apply

 

[mudit.sharma]

Can someone who recently open FF account confirm are they working professional or student?

I graduated in 2022 and my university is in the list but not sure if they would open account for working professionals.

 

[KingAAR]

Can someone who recently open FF account confirm are they working professional or student?

I graduated in 2022 and my university is in the list but not sure if they would open account for working professionals.

you can keep the future first account until you turn 25 yr old and open before you turn 25 yrs

 

[varun__goel_]

you can keep the future first account until you turn 25 yr old and open before you turn 25 yrs

Many have been holding this acc at the age of 45

Can someone who recently open FF account confirm are they working professional or student?

I graduated in 2022 and my university is in the list but not sure if they would open account for working professionals.

All depends on your branch, if they allow to open or not. Also offer initial funding, this might help.

 

[KingAAR]

Many have been holding this acc at the age of 45

All depends on your branch, if they allow to open or not. Also offer initial funding, this might help.

and one more is if the branch doesn't allow opening of the account ... the nodal officer is really powerful, but dont directly message nodal officer for opening . first visit the branch then ...

 

[asyd]

Can someone who recently open FF account confirm are they working professional or student?

I graduated in 2022 and my university is in the list but not sure if they would open account for working professionals.

In terms of application filling you won't need any sort of document to upload if your college is on the list.

The discretion to check eligibility while opening such accounts completely lies with the branch. If they ask for any proof then you have to produce the same in terms of an ID card or marksheet.

In short it all depends on the branch and the branch employee who will process the application for you if you don't have any college proof.