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IndusInd bank Select Savings Account and Legend Credit Card

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hellobois

hellobois

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Hi. I received my Select Savings Account welcome kit today but I'm not able to link it with my legend credit card in mobile application. Please help. My 50000 is already stuck in select account and there is no way to take it out as I have to pay penalty as non maintenance charges.
Please help 🥺
 
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Does anyone know if annual charges are levied on the debit card provided with the Select account even if you're NOT maintaining ₹50K monthly average balance (MAB) despite having a zero MAB account based on the Legend credit card relationship?

I'm asking this because on their Select account's brochure, it is mentioned that "*Free subject to required balance maintenance, otherwise it is ` 499/- p.a plus taxes."

1723835333949.png
1723835348253.png

Notice the asterisk. This criteria seems a bit ambiguous, as it mentions the annual charges would be levied based on only the required balance maintenance, not on relationship criteria.

Can anyone please confirm and clarify?

Thank you.
 
Upvote -1 Downvote
CosmicCat said:
Does anyone know if annual charges are levied on the debit card provided with the Select account even if you're NOT maintaining ₹50K monthly average balance (MAB) despite having a zero MAB account based on the Legend credit card relationship?

I'm asking this because on their Select account's brochure, it is mentioned that "*Free subject to required balance maintenance, otherwise it is ` 499/- p.a plus taxes."

View attachment 65282
View attachment 65283

Notice the asterisk. This criteria seems a bit ambiguous, as it mentions the annual charges would be levied based on only the required balance maintenance, not on relationship criteria.

Can anyone please confirm and clarify?

Thank you.
Click to expand...
People are using select account with out maintaining min balance using legend cc from many years.
Stop worrying.. start using
 
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jeevanreddy58 said:
People are using select account with out maintaining min balance using legend cc from many years.
Stop worrying.. start using
Click to expand...
Jeevan, it seems like there's been a misunderstanding. My comment wasn't about whether or not it can be used without maintaining the required MAB with a Legend card relationship. Everyone in this thread knows it can be.

Please read the post carefully before commenting:
CosmicCat said:
Does anyone know if annual charges are levied on the debit card provided with the Select account even if you're NOT maintaining ₹50K monthly average balance (MAB) despite having a zero MAB account based on the Legend credit card relationship?

I'm asking this because on their Select account's brochure, it is mentioned that "*Free subject to required balance maintenance, otherwise it is ` 499/- p.a plus taxes."

View attachment 65282
View attachment 65283

Notice the asterisk. This criteria seems a bit ambiguous, as it mentions the annual charges would be levied based on only the required balance maintenance, not on relationship criteria.

Can anyone please confirm and clarify?

Thank you.
Click to expand...
 
Upvote -1 Downvote
Just to be clear since this thread is so long :

I have the Visa Signature DC for my Exclusive account, to get the MC World DC ( Also free) ,
  1. i need to call Customer Care and request for the MC card ?
  2. Even if the MC Card which is then shipped has its document with title " Replacement card" it will not de-activate my Visa Signature?
  3. If i do this, ill have both the DCs tagged to my account, completely functional and free of cost ?
  4. and i can also get benefits for both debit cards?
 
Upvote 0 Downvote
Adith said:
Just to be clear since this thread is so long :

I have the Visa Signature DC for my Exclusive account, to get the MC World DC ( Also free) ,
  1. i need to call Customer Care and request for the MC card ?
Click to expand...
Adith said:
  1. Even if the MC Card which is then shipped has its document with title " Replacement card" it will not de-activate my Visa Signature?
  2. If i do this, ill have both the DCs tagged to my account, completely functional and free of cost ?
  3. and i can also get benefits for both debit cards?
Click to expand...
Yes to all questions
 
Upvote -1 Downvote
Sriim said:
Yes to all questions
Click to expand...
Just spoke to customer care , they keep re-iterating that dual DC has been stopped since end of July ( I dint mention anything about dual DC, just said that i was hoping for Mastercard but got Visa and app doesnt allow me to change) . He said that i can get mastercard but visa will be de-activated within an hour. I anyhow wanted the mastercard so went ahead with it. If i want Visa down the line, ill get a visa issued after a year maybe. Sad luck i feel.
 
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Did anyone get a sms ( shown below) from Indusind. I had opened a Select account last month and including IP may have added about 120k in the account till date.

"Your A/C 159***3 is at '60%' of the maximum aggregate credit limit of INR 2 lacs. Visit branch to complete KYC review - IndusInd Bank"

I had submitted my kyc documents at branch and they had processed it leading to removal of debit freeze (a few days after opening the account). Did anyone experience something like this ? Any advice ?
 
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Adith said:
Just spoke to customer care , they keep re-iterating that dual DC has been stopped since end of July ( I dint mention anything about dual DC, just said that i was hoping for Mastercard but got Visa and app doesnt allow me to change) . He said that i can get mastercard but visa will be de-activated within an hour. I anyhow wanted the mastercard so went ahead with it. If i want Visa down the line, ill get a visa issued after a year maybe. Sad luck i feel.
Click to expand...
Don't worry. Visa won't get deactivated 😂

Btw, why are you particular about mastecard?
 
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j_s said:
Your statement should show something like this.
Click to expand...
4uziaul said:
This is not applicable to everyone. Within our forum, numerous members receive a different statement indicating, '50000 AQB or Relationship criteria to be maintained.' In this instance, the relationship requirement pertains to the legend card we currently hold. Although the AQB remains 50000, they waive off the NMC due to the legend card, effectively making it a Zero MAB account.
Click to expand...
Itna dimaag toh maine Physics ke exam mein bhi nahi lagaya jitna yeh decide karne mein ki kisko kahan pe link karoon.

So, folks, for final round, just confirm me:
I got my Legend credit card recently. Haven't set the PIN, and neither the mobile banking nor netbanking. Want to open a Select savings account (Single mode) so that it becomes a zero-balance account and also shows in the statement that "Balance Requirement: zero" as @j_s has shown. I don't want to pay non-maintenence charges.

So, link whom with whom? (Meaning which one should be primary: savings account or credit card)
 
Upvote -3 Downvote
CosmicCat said:
Itna dimaag toh maine Physics ke exam mein bhi nahi lagaya jitna yeh decide karne mein ki kisko kahan pe link karoon.

So, folks, for final round, just confirm me:
I got my Legend credit card recently. Haven't set the PIN, and neither the mobile banking nor netbanking. Want to open a Select savings account (Single mode) so that it becomes a zero-balance account and also shows in the statement that "Balance Requirement: zero" as @j_s has shown. I don't want to pay non-maintenence charges.

So, link whom with whom? (Meaning which one should be primary: savings account or credit card)
Click to expand...
Just follow below steps.

1. Forgot about Legend CC existance. Dont even try to activate it or create a login in app or netbanking.
2. Visit IndusInd branch, open account with 50k Initial funding. It may take 1-2 days for freeze to go away (happened for few).
3. They may provide kit with some platinum debit card. Else you will receive select Debit card via speed post & its PIN (not needed, you can reset it) via some local post.
4. Using debit card, create netbanking/mobile app login and then link your legend CC. It may take couple of hours to a day time and you will be able to see your credit card in cards section of your bank account login. You can then activate your CC.

5. For your own satisfaction, you can send email to customer care and confirm 0 MAB status before removing 50k funds.
 
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maynigam said:
I have a normal zero balance indusind account. Should I upgrade to select account and then apply for legend credit card? What is the correct chronology to do this?
Click to expand...
Could be done either way. Better to get the card first and then upgrade so that you don't have to downgrade just in case card is declined or there's some issue with the CC application.
 
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Sriim said:
Could be done either way. Better to get the card first and then upgrade so that you don't have to downgrade just in case card is declined or there's some issue with the CC application.
Click to expand...
Thanks. So I apply for the legend card on the netbanking app, but not activate it, apply for select account upgrade by depositing 50k, request new debit card and then send them an email to make it a zero balance account?
 
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maynigam said:
Thanks. So I apply for the legend card on the netbanking app, but not activate it, apply for select account upgrade by depositing 50k, request new debit card and then send them an email to make it a zero balance account?
Click to expand...
Get the card from online
You can activate the card, but don't create mobile banking ID or net banking id using the card
Upgrade to select account
Link your card
 
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