Indusind Bank Non Mantainence Account Offer

[bhavyegoelbhavyegoel is verified member.]

Indusind Bank is offering a non mantainence waiver offer on all of its accounts which are placed equal to lower than its Exclusive account for an initial high value account opening cheque which gives you host of benefits. With an exclusive account you get
1) Lockers on Discount with 1st year complete locker fee waiver!
2) Attractive Interest Rates
3) 20% off on BigBasket
4) Zero Forex Markup Debit Card
5) 20% off on Swiggy on Weekends
6) BMS BOGO Offer
7)Upto 0.92% cashback on monthly spends of ₹1,13,000 per month using Exclusive Debit Card - If you have a signature exclusive debit card and if you spend 1.13L (single transaction) you can earn 0.92% flat cashback (in form of reward points, redeemable against cash).

Account variant and required initial funding-



Offer period- 1st Oct to 31st Oct, 2022.

Offer valid till 31st October 2022. Go rush as this is the best time to get a non mantainence premium account for life. The initial funding is very small IMO for the benefits offered. #NotSponsored

Offer Link https://www.indusind.com/in/en/personal/offers/savings-account-festive-offers-tnc.html

 

[Wealth is my birth right!]

so, two 2 lack transactions needs to be done? I thought we need to do it in single transaction.

May be they raised bar till 4lacs for this offer....earlier it was 2 lac max in a link.

 

[Bodhi]

May be they raised bar till 4lacs for this offer....earlier it was 2 lac max in a link.

I think it's 2L for a single Executive account and 4L for a family Executive account (maximum 6 accounts clubbed). Because it states that 1L is the normal MAB for an Executive account, therefore 2L should be applicable for a single Executive account (initial funding - double of MAB).

This is what I gathered. Please do verify yourself too.

 

[Wealth is my birth right!]

I think it's 2L for a single Executive account and 4L for a family Executive account (maximum 6 accounts clubbed). Because it states that 1L is the normal MAB for an Executive account, therefore 2L should be applicable for a single Executive account (initial funding - double of MAB).

This is what I gathered. Please do verify yourself too.

Sure will do; another confusion they say region wise some minimum balance there for exclusive variant not sure.
Their cc too dont know about it they say pls contact ur branch

 

[Bodhi]

Sure will do; another confusion they say region wise some minimum balance there for exclusive variant not sure.
Their cc too dont know about it they say pls contact ur branch

Hyderabad - MAB for Executive account is 1L, I believe.

 

[Harrypotter]

What's the turn around time how long it take to account become functional and we withdraw funds @HyperBeast @cardfreak

 

[avishj]

Nope thats not an easy meal since bank waive all charges under this premium sect and no bank will offer free service without any income from us.
Pioneer AFAIK 0 MAB not possible and I hold exclusive with 1L MAB.
ICICI i've privilege account and once I enquired about wealth RM said 25lac balance required!

There are 2 tiers, Wealth (10L Initial Cheque, 0 MAB after that) and Wealth Select (Requires 25L+ NRV Maintained).

If you get to know, please share with me as well.

@HyperBeast

Any other banks promoting similiar offers for a premium account apart from ICICI and IndusInd that you know of, please?

@Wealth is my birth right!
@TechnoFino

 

[Wealth is my birth right!]

There are 2 tiers, Wealth (10L Initial Cheque, 0 MAB after that) and Wealth Select (Requires 25L+ NRV Maintained).

Benefits wise both same or which is better?
Some black debit card will come in which account variant?

 

[avishj]

i dont use cheque books and if i order now it will come after this month. So, i have to transfer via RTGS because we can't transfer for than 2 lakhs via IMPS. Btw which account no. do they give for payment? temporary or customized?

You can transfer multiple times via IMPS. Daily limit is 5L.

Them read the question again
He's already having savings account in indusind and want to open another one, indusind doesn't allow 2 accounts to a single person, this joint account is the only way.

It is possible. Confirmed by my RM. Also LTF waiver also confirmed by RM.

Benefits wise both same or which is better?
Some black debit card will come in which account variant?

I have the Wealth one. Benefits, nothing much, cool kit, priority service, generic wealth waivers. My RM doesn't bother me with investments all the time, so that's nice. The DC is this one: https://www.icicibank.com/managed-assets/images/personal/card/debit-cards/world-debit-card-big.gif

I think the black one you mean is the Wealth Select, which is issued on the Visa Infinite platform. The wealth dc is a MC World one. Not much priveledges but lounge access is much better than it used to be + good MC World privileges (refer official site, you can choose ICICI World MC DC and it will show all offers).

Also, nice leather pouch in welcome kit (verified) + 0mab current acc with another world dc (unverified)

 

[TheTrickySid]

What's the turn around time how long it take to account become functional and we withdraw funds @HyperBeast @cardfreak

Around 5 to 7 days

 

[Wealth is my birth right!]

I have the Wealth one. Benefits, nothing much, cool kit, priority service, generic wealth waivers. My RM doesn't bother me with investments all the time, so that's nice. The DC is this one: https://www.icicibank.com/managed-assets/images/personal/card/debit-cards/world-debit-card-big.gif

I think the black one you mean is the Wealth Select, which is issued on the Visa Infinite platform. The wealth dc is a MC World one. Not much priveledges but lounge access is much better than it used to be + good MC World privileges (refer official site, you can choose ICICI World MC DC and it will show all offers).

Also, nice leather pouch in welcome kit (verified) + 0mab current acc with another world dc (unverified)

Yes Select account and debit card on the Visa Infinite/MC Elite is the one i meant.
thanks for the inputs....hope that leather pouch can be used to store n number of cards.

 

[SubhankarSubhankar is verified member.]

I enquired for joint account they said they will provide only 1 debit card for the joint account also. Any other benefit for opening a joint account? @bhavyegoel @TechnoFino @Subhankar

You get 2 Debit cards for joint account. You may need to request for another one

 

[cardfreak]

Just for information. You receive consent code for verification as existing customer to open new account

 

[John Since]

Is it true IndusInd wont provide C2C for existing savings account holders?

 

[Infiniti]

Checked with the BM who further connected to someone in the product team. The NMC charges waiver does not have a time horizon mentioned intentionally. they reiterated that the T&Cs could change in future with a prior intimation.

 

[Francis@Aj]

Is there any time limit post account opening to withdraw the amount?
What is the maximum time opening process to complete?
Maximum amount should be initially funded or can be done later also?
Thanks in advance

 

[John Since]

Is there any time limit post account opening to withdraw the amount?
What is the maximum time opening process to complete?
Maximum amount should be initially funded or can be done later also?
Thanks in advance

You can withdraw the amount as soon as you open the account. Opening process will be completed within an hour if you make the payment online. If through cheque, will take a day or two. Exact Rs.400000/- to be funded to make this offer applicable at the time of opening itself.

 

[Wealth is my birth right!]

Is there any time limit post account opening to withdraw the amount?
What is the maximum time opening process to complete?
Maximum amount should be initially funded or can be done later also?
Thanks in advance

Until you get the full kit of exclusive account incl chq book and DC maintain that balance.

 

[Francis@Aj]

You can withdraw the amount as soon as you open the account. Opening process will be completed within an hour if you make the payment online. If through cheque, will take a day or two. Exact Rs.400000/- to be funded to make this offer applicable at the time of opening itself.

Thanks you

Until you get the full kit of exclusive account incl chq book and DC maintain that balance.

Thank you, and how long would that take any idea ?

 

[Wealth is my birth right!]

Maximum 5 working days.
In my case app showed SR no on a Monday for kit and got kit by bluedart on Thursday (Metro city)

 

[paipurivamsi]

Any written confirmation regarding timeline for NMC charges waiver? I wrote to NO but no concrete response was received(asked to go to bank with requisite documents which is completely irrelevant reply to my pin point query). I think Indusind do not want to give any written confirmation regarding timeline of waiver.