Indusind NMC Waiver Account

[Deleted member 7241]

Few months ago I Opened Savings account with INDUSIND BANK Under NMC Waiver Offer./ Special Waiver Offer.

I Want to Open ADD ON ACCOUNT FOR My Father.

RM said that NMC WAIVER IS also APPLICABLE FOR ADD ON ACCOUNT.

Plz share Expert Advice @Wealth is my birth right! @Batmanbaba @Abhishek012

Should I Open ADD ON ACCOUNT OR NOT ?

 

[shubhamosy]

What was the account variant?

 

[pprakash11]

Few months ago I Opened Savings account with INDUSIND BANK Under NMC Waiver Offer./ Special Waiver Offer.

I Want to Open ADD ON ACCOUNT FOR My Father.

RM said that NMC WAIVER IS also APPLICABLE FOR ADD ON ACCOUNT.

Plz share Expert Advice @Wealth is my birth right! @Batmanbaba @Abhishek012

Should I Open ADD ON ACCOUNT OR NOT ?

I have opened two ADD ON accounts with NMC Waiver based on Select+ Legend condition on primary account.

I will give a thumsup.
Go for it.

 

[Shrinit Padwal]

I have opened two ADD ON accounts with NMC Waiver based on Select+ Legend condition on primary account.

I will give a thumsup.
Go for it.

Add on accounts - vkyc needed right?
For add on CCs - vkyc is needed or how? Is there cibil hit in add on person's cibil?
Who all can be included in add-on? Parents/spouse/siblings/children/inlaws?

 

[Deleted member 7241]

What was the account variant?

Exclusive

 

[pprakash11]

Add on accounts - vkyc needed right?

Yes

For add on CCs - vkyc is needed or how?

Nope

Is there cibil hit in add on person's cibil?

Nahi aisa kuchh nhi

Who all can be included in add-on? Parents/spouse/siblings/children/inlaws?

Not Inlaws (Only first 4)

 

[Deleted member 7241]

I have opened two ADD ON accounts with NMC Waiver based on Select+ Legend condition on primary account.

I will give a thumsup.
Go for it.

Opened Via branch Or Online??

 

[pprakash11]

Opened Via branch Or Online??

Online.

And then went to branch just to submit account grouping form.

 

[Deleted member 7241]

Online.

And then went to branch just to submit account grouping form.

Plz Share Entire Process...

 

[pprakash11]

Plz Share Entire Process...

For my sister I opened Select Account only with 50k IP online.
DC, Chequebook received.

We debited the funds after VKYC was successful and email was received.

I got her sign on Account grouping form, submitted in the branch, done in 2 days.

Now her account description shows INDUS SELECT ADD-ON

 

[Deleted member 7241]

Thanks

For my sister I opened Select Account only with 50k IP online.
DC, Chequebook received.

We debited the funds after VKYC was successful and email was received.

I got her sign on Account grouping form, submitted in the branch, done in 2 days.

Now her account description shows INDUS SELECT ADD-ON

Thank You so much

 

[Shrinit Padwal]

For my sister I opened Select Account only with 50k IP online.
DC, Chequebook received.

We debited the funds after VKYC was successful and email was received.

I got her sign on Account grouping form, submitted in the branch, done in 2 days.

Now her account description shows INDUS SELECT ADD-ON

Can the addon account be done w/o IP?
Like open normal 0 or 10k acc and complete VKYC. Then link with main Select/Exclusive account and upgrade/convert it to addon account?

 

[pprakash11]

Can the addon account be done w/o IP?
Like open normal 0 or 10k acc and complete VKYC. Then link with main Select/Exclusive account and upgrade/convert it to addon account?

Without IP ya 10k IP se krwana hai to only branch is option. Online nhi hoga.

If you will open first 0 MAB account then you would end up paying DC charges of ₹590 useless, which you will be getting free of cost once your Grouping is approved.

 

[Shrinit Padwal]

Without IP ya 10k IP se krwana hai to only branch is option. Online nhi hoga.

If you will open first 0 MAB account then you would end up paying DC charges of ₹590 useless, which you will be getting free of cost once your Grouping is approved.

Those DC charges can be reversed I guess - once grouping is done. Need to go to branch to confirm

 

[4uziaul]

Those DC charges can be reversed I guess - once grouping is done. Need to go to branch to confirm

No they won't reverse it.

 

[4uziaul]

Better to open it offline since it's Zero MAB and you can immediately withdraw the funds after grouping is complete.

By the way even for Zero MAB online account you have to do initial funding.

 

[Wealth is my birth right!]

No they won't reverse it.

For any card in IndusInd if blocked within 48 hrs of activation they will reverse charge’s even though we won’t request also
It’s the terms 3 yrs back not sure the current practice

 

[Deleted member 7241]

For any card in IndusInd if blocked within 48 hrs of activation they will reverse charge’s even though we won’t request also
It’s the terms 3 yrs back not sure the current practice

Thank You

 

[another]

I have opened two ADD ON accounts with NMC Waiver based on Select+ Legend condition on primary account.

I will give a thumsup.
Go for it.

What is the difference between "Family Grouping" and "Add-on account".

If my father has two accounts ('Partner'which is a joint account and 'Select' which is an individual account) and I too hold two accounts ('Partner' which is a joint account with my father as mentioned above and 'Exclusive' account which is my individual account). So how add-on works? and how grouping works?

 

[pprakash11]

What is the difference between "Family Grouping" and "Add-on account".

If my father has two accounts ('Partner'which is a joint account and 'Select' which is an individual account) and I too hold two accounts ('Partner' which is a joint account with my father as mentioned above and 'Exclusive' account which is my individual account). So how add-on works? and how grouping works?

Both are interlinked.

Family grouping refers to the process to merge primary+ add on account under same umbrella of family banking.

Suppose you being primary account holder (Exclusive Account) you opened one account for your mother and one account for your sister- want to include them under your umbrella.

So the process is called Family Grouping.
And those two accounts your mother's and sister's will be called ADD ON Accounts.

So basically you will have to maintain everything like relationship criteria or you have to NMC charges if deduced. No effect on your add ons.