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.

 

[Vasuki]

Idfc has family banking ??😂🤣😂🤣

Are you laughing on yourself 🤣

 

[Optimiser007]

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.

Hi, so finally which bank u went with..which debit card and what's the reward rate for cc bill payment?

 

[Vasuki]

Hi, so finally which bank u went with..which debit card and what's the reward rate for cc bill payment?

He went for icici debit card 🤣

 

[Optimiser007]

He went for icici debit card 🤣

Lol seriously?? Why?

 

[Vasuki]

Lol seriously?? Why?

It was sarcasm

Open hdfc and idfc both
Equally good

If you have 75k or less bill go for hdfc with platinum dc

And if you have 1 lakh and above go with idfc

 

[Optimiser007]

It was sarcasm

Open hdfc and idfc both
Equally good

If you have 75k or less bill go for hdfc with platinum dc

And if you have 1 lakh and above go with idfc

Just opened indus exclusive and got their 2 DCs.. would you suggest idfc over indusind?

 

[Vasuki]

Just opened indus exclusive and got their 2 DCs.. would you suggest idfc over indusind?

Exclusive is good for zero forex


Idfc wealth or select anyday

 

[Optimiser007]

Exclusive is good for zero forex


Idfc wealth or select anyday

What about cc bills?

 

[Riya Sharma]

What about cc bills?

It will give you upto 0.93% on a bill of 1lk paid via PayTm

 

[Optimiser007]

It will give you upto 0.93% on a bill of 1lk paid via PayTm

Yes have taken both visa signature and world MC of indusind.. what's the reward rate for IDFC?

 

[Riya Sharma]

Yes have taken both visa signature and world MC of indusind.. what's the reward rate for IDFC?

You’d have to ask @Vasuki for that

 

[Anindya98]

Yes have taken both visa signature and world MC of indusind.. what's the reward rate for IDFC?

IDFC DCs Reward Rates:

 

[sujayghosh]

Hi, so finally which bank u went with..which debit card and what's the reward rate for cc bill payment?

I'm yet to open one, but decided that I will open HDFC only

 

[vine]

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

@vijay.vj
just got a new Exclusive IndusInd account and Visa Exclusive DC.
Pinnacle credit card bill 55k will generate next week.
I can use paytm to pay this cc bill. Any other working option other than SBI unipay, if it fails?

@Sriim , as per your other post, I have a single cc bill, so is it better to pay 55k in one go?

 

[Sriim]

@vijay.vj
just got a new Exclusive IndusInd account and Visa Exclusive DC.
Pinnacle credit card bill 55k will generate next week.
I can use paytm to pay this cc bill. Any other working option other than SBI unipay, if it fails?

@Sriim , as per your other post, I have a single cc bill, so is it better to pay 55k in one go?

Yes. One go.

Paytm --> convenience fees

Airtel, Unipay and Setu works without fees

 

[hedgehog2122]

Never open account with INDUSIND, I had to literally visit branch 4 times for kyc since their systems were not working and BTW it was exclusive which I wanted to open since I had a Pinnacle card. Opened with 2 L cheque, money got deducted after about 20 days when I repeatedly complaint about it.

This is just account opening experience, rest the service standards you can imagine

 

[Optimiser007]

Never open account with INDUSIND, I had to literally visit branch 4 times for kyc since their systems were not working and BTW it was exclusive which I wanted to open since I had a Pinnacle card. Opened with 2 L cheque, money got deducted after about 20 days when I repeatedly complaint about it.

This is just account opening experience, rest the service standards you can imagine

I had a very smooth experience in tier 2 city, paid 1L initially. Got cheque book and wc debit card within next 5 days and applied for visa thru app which also came within 4 days. App and net banking looks ok atleast till now. Have given this account to employer to make it 0 MAB

 

[hedgehog2122]

I had a very smooth experience in tier 2 city, paid 1L initially. Got cheque book and wc debit card within next 5 days and applied for visa thru app which also came within 4 days. App and net banking looks ok atleast till now. Have given this account to employer to make it 0 MAB

You might be just lucky, majority of us had a bad experience

 

[vine]

I had a smooth experience with opening a new Exclusive account.
I visited the branch, because the online application was not working at all. Branch employees did try a lot to sell the Grande account, I declined.
I gave a cheque of 2L, it was submitted after 3 working days.
DC and cheque book arrived in 4 calendar days. I logged into app and was able to access the a/c with DC and saw the balance of 2L.
Also did a test txn and it worked.
Total time was 4 working days.
Only thing is, I asked for Mastercard world DC, but the employee said she didn't see that option, but she can raise that request after a few days. Frankly, I don't have a need for it right now , as there is no major difference.
I got Pinnacle cc, so I sent email to exclusive support email, am waiting for them to reply that its 0 AMB/AQB.

 

[vine]

I had a smooth experience with opening a new Exclusive account.
I visited the branch, because the online application was not working at all. Branch employees did try a lot to sell the Grande account, I declined.
I gave a cheque of 2L, it was submitted after 3 working days.
DC and cheque book arrived in 4 calendar days. I logged into app and was able to access the a/c with DC and saw the balance of 2L.
Also did a test txn and it worked.
Total time was 4 working days.
Only thing is, I asked for Mastercard world DC, but the employee said she didn't see that option, but she can raise that request after a few days. Frankly, I don't have a need for it right now , as there is no major difference.
I got Pinnacle cc, so I sent email to exclusive support email, am waiting for them to reply that its 0 AMB/AQB.

I sent email from registered email and quoted account number and last four digits of credit card (didn't mention my mobile number),
Got email reply below, and they don't even confirm what I asked, or may be I don't understand this email 😃.

Greetings from IndusInd Bank Limited!

We refer to your email dated November 08, 2024 received through exclusive@indusind.com regarding Exclusive account Zero balance enquiry.

At the outset please accept our sincere gratitude for the time taken and efforts made by you in sharing your concerns with us.

We request you to write to us from your registered e-mail ID to exclusive@indusind.com along with the account number to enable us to check and assist you further.

Further, we would like to request you to please mention your contact number on mail. So, that we can contact and assist you about your concern.

We would like to inform you that, the benefit of zero balance in the exclusive account will be given only to the person on whose name pinnacle card is issue.

We would like to inform you that if you are holding a pinnacle credit card, you can maintain a zero balance on your exclusive savings account as Pinnacle card will work as a surrogate criteria in lieu of maintaining required AMB in Exclusive account.