Only 9% interest in IDFC First Wealth

[chinnodu]

I recently closed IDFC First Select and applied for Wealth on Card 2 Card basis online. The Wealth Credit card issued. It shows interest rate only 9%. Isn't it lowest in the industry?

 

[drsel]

You did not specify the time period for borrowing a 2--3% and lending at 5 to 6% interest.

Anyway, lending unsecured money to anybody (including friends and relatives) is very risky. chances of default are very high

 

[Deleted member 11974]

this is completely irrelevant
there are many such arbitrage opportunities even at 12-13% pa loans if you are dealing with a trusted person

 

[drsel]

I recently closed IDFC First Select and applied for Wealth on Card 2 Card basis online. The Wealth Credit card issued. It shows interest rate only 9%. Isn't it lowest in the industry?

You need to spent 20000 in the previous month to activate 2 spa and 2 Lounge benefits.
This card doesn't give high returns, so on what would you spend 20000 ?

 

[BVCBVC is verified member.]

You need to spent 20000 in the previous month to activate 2 spa and 2 Lounge benefits.
This card doesn't give high returns, so on what would you spend 20000 ?

Fuel and Bill Payments or Offline spends or Insurance payments or Travel Spends.

Whatever case except cash withdrawals.

 

[chinnodu]

Peddodu asking chinnodu !! 😀

I an in Bangalore