IDFC Select Vs Wealth Vs Private requirements

[psmangat5]

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.

they updated me to select only when i had 13 lakh for more than 1 year

 

[Dragon_slayer]

they updated me to select only when i had 13 lakh for more than 1 year

Then you didn't negotiated in right way. Wealth is very easy to get with right amount.

 

[psmangat5]

Then you didn't negotiated in right way. Wealth is very easy to get with right amount.

i was not the member of technofino then, didn't even know the tier.gotselect card at home

 

[HumorSimpson]

i was not the member of technofino then, didn't even know the tier.gotselect card at home

Exactly !!! without TF I too wouldn't have gotten a good advice on IDFC or my laptop purchase.

 

[pslashb]

Dont you think its a bad time to invest 50L in stocks / mutual funds ? At these valuations it seems very tricky

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.

 

[Slayer]

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.

Factos . .

 

[BVCBVC is verified member.]

Today suddenly my select dc is not visible in my app and if i try any dc txn its failing ?

The end is near GIF...

 

[HumorSimpson]

The end is near GIF...

Nope ... its a temp glitch and working fine again.

 

[KGSIPO]

Is there any big advantage of wealth private over wealth account

 

[SpidySpider]

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.

Are the mutual funds with direct plan available? Or it just allows commission based MF?

 

[pslashb]

Are the mutual funds with direct plan available? Or it just allows commission based MF?

Regular only, no direct. You can do in stocks tho

 

[fradela]

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.

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.

 

[Dragon_slayer]

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.

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

 

[fradela]

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

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.

 

[Tonymathew]

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?

 

[HumorSimpson]

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?

App is little slow in update. The moment you use select, the old dc will be gone.

 

[Tonymathew]

App is little slow in update. The moment you use select, the old dc will be gone.

So once I start using select, then the reward points will be as per select? Right sir?

 

[HumorSimpson]

So once I start using select, then the reward points will be as per select? Right sir?

correct ... !!

 

[Tonymathew]

correct ... !!

How many days does it normally takes to track the reward points? Suppose I do my test transaction today on Monday?

 

[HumorSimpson]

How many days does it normally takes to track the reward points? Suppose I do my test transaction today on Monday?

2 weeks. or 3 weeks in the worst case