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IDFC First Bank Select Vs Wealth Vs Private Requirements - Disucssion

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Dragon_slayer said:
Dont you think its a bad time to invest 50L in stocks / mutual funds ? At these valuations it seems very tricky
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Never a bad time to invest in equity if you're a long term investor.

And with mutual funds you can invest in debt as well if you want to avoid "high valuations"

PS: I've been hearing this high valuation and correction thing since last year September.
 
BVC said:
The end is near GIF...
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Nope ... its a temp glitch and working fine again.
Happy Homer Simpson GIF
 
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Reactions: BVC
pslashb said:
Never a bad time to invest in equity if you're a long term investor.

And with mutual funds you can invest in debt as well if you want to avoid "high valuations"

PS: I've been hearing this high valuation and correction thing since last year September.
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Are the mutual funds with direct plan available? Or it just allows commission based MF?
 
Dragon_slayer said:
This information has been confirmed with IDFC

IDFC Select - 3L Savings balance
IDFC Wealth - 10L Savings balance
IDFC Private - 50L Savings balance

No investments, insurance purchase etc are required. This is purely based on savings account balance.
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I'm IDFC Select customer. Only 25K FD. Having Wealth CC.

Instead of 50L in savings balance, more risk and no yield.

If you had invested in the MFs, it would have given 50,000 per month( averagely)

I don't see much benefits with Private, Wealth and Select.
 
fradela said:
I'm IDFC Select customer. Only 25K FD. Having Wealth CC.

Instead of 50L in savings balance, more risk and no yield.

If you had invested in the MFs, it would have given 50,000 per month( averagely)

I don't see much benefits with Private, Wealth and Select.
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You are right, someone can get better returns with MF. But thats easier to say when markets have been in multi-year bull run, when it starts correcting then people will be reminded of what safe investments mean
 
Dragon_slayer said:
You are right, someone can get better returns with MF. But thats easier to say when markets have been in multi-year bull run, when it starts correcting then people will be reminded of what safe investments mean
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If you want safe returns, go with Debt mutual funds, Money Market, Ultra Short Term, and GILT funds. All are safe and give better returns than FD.
Liquid and Overnight funds give better returns than Savings Account, some times give better return than FD.
No TDS. Money is safe.
There is no safety in bank account. Max 5L covered by insurance and any cyber attack happened all you hard earned money gone.
 
I have raised the request for upgrading to select, gave the consent, got the dc today. The app is also showing the dc. But in my account section, it is showing first power only. No mention of select.

BM told me that the account will be same, even if upgraded to select programme. Is it true?

So can I start using the dc, and if so, would I be getting RP as per select or as per regular account? Can anyone pls help?
 
Tonymathew said:
I have raised the request for upgrading to select, gave the consent, got the dc today. The app is also showing the dc. But in my account section, it is showing first power only. No mention of select.

BM told me that the account will be same, even if upgraded to select programme. Is it true?

So can I start using the dc, and if so, would I be getting RP as per select or as per regular account? Can anyone pls help?
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App is little slow in update. The moment you use select, the old dc will be gone.
 
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