IDFC vs IndusInd for savings account

[sujayghosh]

Hello everyone,
I am evaluating between IDFC and IndusInd for another savings account. Both banks are at equal distance from my home. I have credit card relationship with both banks. Personally have found IDFC app to be the better one and customer care slightly more responsive. But there is a nearby IndusInd ATM which works very well. So, I am a bit confused between the two. Can you please share your experiences.

P.S. Not looking for Zero balance accounts. Okay with keeping 25k as MAB.

 

[vijay.vj]

Hello everyone,
I am evaluating between IDFC and IndusInd for a secondary savings account. Both banks are at equal distance from my home. I have credit card relationship with both banks. Personally have found IDFC app to be the better one and customer care slightly more responsive. But there is a nearby IndusInd ATM which works very well. So, I am a bit confused between the two. Can you please share your experiences.

Blindly go ahead with IDFC if you want peace. App and net banking is good with IDFC.
Same is not true with IndusInd, unexpected downtimes and app issues may hinder when you need it.

I have CC and banking relationship with both.

 

[sujayghosh]

Blindly go ahead with IDFC if you want peace. App and net banking is good with IDFC.
Same is not true with IndusInd, unexpected downtimes and app issues may hinder when you need it.

I have CC and banking relationship with both.

Perfect. Thanks a lot. 👍👍

 

[Riya Sharma]

Which card do you have from Indus?

 

[sujayghosh]

Which card do you have from Indus?

Legend and Rupay

 

[Riya Sharma]

Legend and Rupay

Then go for an IndusInd Select account. Since you have Legend they will give you select account for 0 MAB and the DC that comes with that account gives 0.93% cashback on cc payments

 

[vijay.vj]

Perfect. Thanks a lot. 👍👍

If you have Legend or Pinnacle, then go for 0 MAB account in Indus as 3rd saving account 🙂 Definitely not as your 2nd

 

[vijay.vj]

Then go for an IndusInd Select account. Since you have Legend they will give you select account for 0 MAB and the DC that comes with that account gives 0.93% cashback on cc payments

Indus is not reliable as 2nd account or anything. Its only good for offers and debit card

 

[sujayghosh]

Exclusive account for 0 MAB and the DC that comes with that account gives 0.93% cashback on cc payments and is 0 forex.

Intersting! Do they give cashback for any CC payments? And do I have to make CC payments using their app only?
Thanks.

 

[Humanbeing]

Then go for an IndusInd Select account. Since you have Legend they will give you select account for 0 MAB and the DC that comes with that account gives 0.93% cashback on cc payments

I guess Exclusive has Pinnacle & Select has Legend criteria as surrogate.

 

[vijay.vj]

Intersting! Do they give cashback for any CC payments? And do I have to make CC payments using their app only?
Thanks.

With visa debit card, use paytm 🙂

Indus is known to not credit rewards correctly.

Spend 5k - 0.35% - Rs 17
Spend 10k - 0.43% - Rs 43
Spend 20k - 0.56% - Rs 112
Spend 30k - 0.67% - Rs 201
Spend 40k - 0.72% - Rs 288
Spend 50k - 0.78% - Rs 390
Spend 60k - 0.83% - Rs 500
Spend 80k - 0.88% - Rs 704
Spend 100k - 0.92% - Rs 920
Spend 112.5k (Max) - 0.93% - Rs 1050

 

[Riya Sharma]

Intersting! Do they give cashback for any CC payments? And do I have to make CC payments using their app only?
Thanks.

no use the IndusInd Visa DC through PayTM for cc payment cashback

 

[Riya Sharma]

Indus is not reliable as 2nd account or anything. Its only good for offers and debit card

I'd say it's fine I have an incoming/outcoming into an Indus account of about 12-13 lakhs per month and never faced any issue.

 

[vijay.vj]

I'd say it's fine I have an incoming/outcoming into an Indus account of about 12-13 lakhs per month and never faced any issue.

Their branch was horrible, in spite of escalation for ever 2 weeks, branch guys were least bothered. If you run into issues, it sucks with Indus.

IDFC customer care is good.

IDFC select DC also gives nice rewards for CC payment.

 

[sujayghosh]

I guess Exclusive has Pinnacle & Select has Legend criteria as surrogate.

Hi,
Do you mean I will be able to get Indus Select account as zero AMB account since I have Legend card? I found that debit card is also free in this account.

 

[Riya Sharma]

Hi,
Do you mean I will be able to get Indus Select account as zero AMB account since I have Legend card? I found that debit card id also free in this account.

yes . .

 

[Riya Sharma]

Their branch was horrible, in spite of escalation for ever 2 weeks, branch guys were least bothered. If you run into issues, it sucks with Indus.

IDFC customer care is good.

IDFC select DC also gives nice rewards for CC payment.

Yeah it depends highly on the branch. I guess I was a bit lucky since all the guys at my branch are very nice and helped me out a bunch.

 

[sujayghosh]

If you have Legend or Pinnacle, then go for 0 MAB account in Indus as 3rd saving account 🙂 Definitely not as your 2nd

I am in fact considering them as my 4th bank account. ICICI is my primary. Canara secondary (considering to replace it with HDFC), CUB tertiary and IDFC / IndusInd quaternary. 😅

 

[Fini7777]

Hello everyone,
I am evaluating between IDFC and IndusInd for a secondary savings account. Both banks are at equal distance from my home. I have credit card relationship with both banks. Personally have found IDFC app to be the better one and customer care slightly more responsive. But there is a nearby IndusInd ATM which works very well. So, I am a bit confused between the two. Can you please share your experiences.

P.S. Not looking for Zero balance accounts. Okay with keeping 25k as MAB.

Simple,
2nd acc- open IDFC 25k savings account as 2nd account
3rd acc- open Indus select account as u hold indusind Legend cc It will be O MAB acc untill you hold that legend card but, Remember if u upgrade ur card or close the card the account becomes 50k MAB acc make sure you continue this card
A small suggestions from my side : Don't open these accounts online Go to branch and open these accounts with physical kyc
"Bcoz most of the online opened accs are getting frozen when u do high value transactions or more UPI trans or sometimes without any reason they freeze the accounts so, don't open these accs online".
mark this as solution if u find it helpful

 

[Ak Singh]

Simple,
2nd acc- open IDFC 25k savings account as 2nd account
3rd acc- open Indus select account as u hold indusind Legend cc It will be O MAB acc untill you hold that legend card but, Remember if u upgrade ur card or close the card the account becomes 50k MAB acc make sure you continue this card
A small suggestions from my side : Don't open these accounts online Go to branch and open these accounts with physical kyc
"Bcoz most of the online opened accs are getting frozen when u do high value transactions or more UPI trans or sometimes without any reason they freeze the accounts so, don't open these accs online".
mark this as solution if u find it helpful

What should be minimum limit for legend credit card for select account?

If we have another zero balance account in indus, will they upgrade it to select or will they open new account?