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

 

[hakunamatata]

Otherwise, what's the point of giving it even for one year.

 

[Wealth is my birth right!]

Too much of a hassle, I have a Pinnacle and tried with 2 RM, both of them were stalling too much. Complained about it to customer care and they also took 1 week to respond with another RM details who again had no idea on how to do it.

So I went ahead with 4L option.

Ok then no issues if that 4l is excess make it as fd since IndusInd yesterday increased interest rate

As usual “conditions apply” trick every bank plays

Had a word with CS just now. They keep on saying that NMC waiver is only for the 1st year and not lifetime. 🙁

paying 4 lac is not a issue since its a zero balance account. btw what type pf vouchers do we get with pinnacle?

For the Fees paid on pinnacle if u want full voucher then ask for offline vouchers or if u r fine with 70% returns of fees paid then ask for online vouchers kit.
FYI amazon will come under online category whereas shops like pantaloons croma etc covers offline category

 

[John Since]

Otherwise, what's the point of giving it even for one year.

Even I thought the same and called them 4-5 times. Yet they gave me the same answer.

 

[manikP]

Ok then no issues if that 4l is excess make it as fd since IndusInd yesterday increased interest rate

Not at all excess, some of it is even borrowed from friends to open the account.

 

[Wealth is my birth right!]

Not at all excess, some of it is even borrowed from friends to open the account.

Nice commitment towards exclusive enjoy the privileges once opened

 

[TheTrickySid]

I called them 4 times. Same reply I got every time.

I have confirmed from branch manager
I don't have anything else to say

 

[Infiniti]

IMO, this is an ideal account/offer to open for parents who are senior citizens. FD rate at 7.75% for 2 years tenor. tax exemption for senior citizens on FD interest of 50k p.a. This would translate to booking an FD of 6.5 lakh.

 

[John Since]

I have confirmed from branch manager
I don't have anything else to sa

I have confirmed from branch manager
I don't have anything else to say

Okay. This is what they have mentioned me. If it's NMC waiver for life, I will rush to the bank on 25th. I was hoping to get a confirmation from the branch. Let's hope we get NMC waiver for the life. 🙂

 

[hakunamatata]

The locker rent is waived for 1st year, not the nmc

 

[jack333]

I hold exclusive with 1lac minimum balance and TBH I got it for zero Fx markup usage in cross currency and the debit card twice I used for weekends swiggy and bms offers but my suggestion not to pay 4lac for the same just get a paid pinnacle for 10k or 12k there are variations which give back as vouchers so that exclusive account is always free mab lifetime.
Now I hold legend ltf and ok for paid pinnacle but they said existing exclusive accounts cannot be linked that way so first get pinnacle and then open nil balance exclusive pls

Existing can also be linked. I had complained to pno and they offered me paid pinnacle and offered to convert my existing exclusive account to zero mab

 

[Wealth is my birth right!]

Existing can also be linked. I had complained to pno and they offered me paid pinnacle and offered to convert my existing exclusive account to zero mab

Tried that path too herewith attach their reply

 

[anonymuos]

IMO, this is an ideal account/offer to open for parents who are senior citizens. FD rate at 7.75% for 2 years tenor. tax exemption for senior citizens on FD interest of 50k p.a. This would translate to booking an FD of 6.5 lakh.

Yes exactly. 🙂 As mentioned by others in the thread earlier, till last month (September 30th), it seems IndusInd had offer this only on "Partner" account (initial deposit 2 lakh, lifetime free debit card, 0 balance account, 1st year locker charges waived). And IndusInd has high FD interest rate. My parents (both senior citizens) opened it and got all the benefits including individual LTF DCs and Times Prime. At that time, I had asked the branch if there was any such offer for single individual and they had said no. Now it seems with Indus Exclusive, they have the same offer but for single individuals.

 

[jack333]

In writing they don't commit to anything. But i got a call from my RM that why you complained to pno you could have come to us. They offered me paid pinnacle with full value vouchers and agreed to convert my exclusive account to zero mab

 

[Deleted member 2995]

legend credit card holder also eligible for Zero MAB account

 

[Wealth is my birth right!]

legend credit card holder also eligible for Zero MAB account

Which variant pls is it exclusive

 

[TheTrickySid]

Which variant pls is it exclusive

Select variant for legend card holders

 

[Wealth is my birth right!]

Select variant for legend card holders

Ok I already have exclusive with mab so this’ll not useful to me and I need signature exclusive debit card for zero markup so better to continue with exclusive

 

[Bodhi]

Confirm from customer care after account opening

Thank you for the advice @HyperBeast

After the account is active and the 4L is reflecting in it - how long will they take to remove the debit freeze? Is there any minimum time period or any other criteria?

I've been informed that the welcome kit has been dispatched and the amount has been reflecting in the account since the 20th. But no clarity on the debit-freeze criteria! Phone Banking customer care personnel said that the debit freeze is from the branch.

Phone banking customer care personnel could not clarify whether the account has been opened under the promotion or not - kept asking me to verify it with the Branch personnel. The branch personnel has been insisting that all is in place, but I am not sure. Please share your suggestions regarding the debit freeze and verification of the promotional offer.

Thank you very much in advance.

 

[avishj]

Can someone please confirm the following:

1) Is this offer applicable to existing Savings account customers? (Someone got written confirmation of this?)
2) Is the NMC for only 1 year or lifetime?
3) Will the 299+GST charge (DC charge if account is not maintained) and the 1999+GST (annual charge of DC for any other downgraded varient except Exclusive) charges given in the Exclusive SOC not be applicable?
4) How long will the debit freeze last?

 

[TheTrickySid]

Thank you for the advice @HyperBeast

After the account is active and the 4L is reflecting in it - how long will they take to remove the debit freeze? Is there any minimum time period or any other criteria?

I've been informed that the welcome kit has been dispatched and the amount has been reflecting in the account since the 20th. But no clarity on the debit-freeze criteria! Phone Banking customer care personnel said that the debit freeze is from the branch.

Phone banking customer care personnel could not clarify whether the account has been opened under the promotion or not - kept asking me to verify it with the Branch personnel. The branch personnel has been insisting that all is in place, but I am not sure. Please share your suggestions regarding the debit freeze and verification of the promotional offer.

Thank you very much in advance.

Debit freeze is not for everyone idk why have they imposed it on your account.
To confirm offer call cc and ask them the required mab you need to maintain if it's zero you are good to go.