[Query] Is IDFC First Bank upgrade from Wealth to Private banking possible with 25L-30L MAB/AMB ??

[sahil1033]

I've 2 accounts under IDFC First Bank Wealth banking and have cumulative funds of around Rs. 32L - 33L.

Is it possible to negotiate with RM and get it upgraded to Private banking with such MAB? Any chance if I touch Rs. 50L cumulative balance across both the accounts to get the upgrade (however the funds will be taken out after the upgrade as it's a temporary thing, won't last more than 2-3 months at maximum) ??

The reason for this is, Private DC which has a higher limit of earning RPs in a month. With Wealth DC, reward points are capped at 5,00,000 in a calendar month but Private DC has a very high upper limit. This may come in handy for me while purchasing a four-wheeler via DC to earn RPs and with Wealth DC, I would be restricted at somewhere around Rs. 5L per month and the four-wheeler will cost in the range of Rs. 16-17 lakhs.

Suggest something please!

 

[HumorSimpson]

@vaibhav111 @Vasuki @#aniket

 

[vaibhav111vaibhav111 is verified member.]

I've 2 accounts under IDFC First Bank Wealth banking and have cumulative funds of around Rs. 32L - 33L.

Is it possible to negotiate with RM and get it upgraded to Private banking with such MAB? Any chance if I touch Rs. 50L cumulative balance across both the accounts to get the upgrade (however the funds will be taken out after the upgrade as it's a temporary thing, won't last more than 2-3 months at maximum) ??

The reason for this is, Private DC which has a higher limit of earning RPs in a month. With Wealth DC, reward points are capped at 5,00,000 in a calendar month but Private DC has a very high upper limit. This may come in handy for me while purchasing a four-wheeler via DC to earn RPs and with Wealth DC, I would be restricted at somewhere around Rs. 5L per month and the four-wheeler will cost in the range of Rs. 16-17 lakhs.

Suggest something please!

you need now close to 1cr, when i had upgraded to IDFC private from wealth 1cr wasn't imposed to me but for my friend he was asked to give 1 cr cheque or investment of minimum of 10L + 50L. since he didn't opt i can't sure. that was also via my rm cause of my relationship with the bank. my rm have confirmed now 1cr is needed for no investment. there is always a scope for negotiation, but you need to take investment with 30-50L and you can't withdraw all together.

Private DC which has a higher limit of earning RPs in a month. With Wealth DC, reward points are capped at 5,00,000 in a calendar month but Private DC has a very high upper limit. This may come in handy for me while purchasing a four-wheeler via DC to earn RPs and with Wealth DC

hmm i didn't knew this plus very little chances of actual RP earned on 4 wheeler trnx... try not to use amex and swipe via cc and pay the bill and earn point via canara setu/sbi unipay instead.

 

[Vasuki]

I've 2 accounts under IDFC First Bank Wealth banking and have cumulative funds of around Rs. 32L - 33L.

Is it possible to negotiate with RM and get it upgraded to Private banking with such MAB? Any chance if I touch Rs. 50L cumulative balance across both the accounts to get the upgrade (however the funds will be taken out after the upgrade as it's a temporary thing, won't last more than 2-3 months at maximum) ??

The reason for this is, Private DC which has a higher limit of earning RPs in a month. With Wealth DC, reward points are capped at 5,00,000 in a calendar month but Private DC has a very high upper limit. This may come in handy for me while purchasing a four-wheeler via DC to earn RPs and with Wealth DC, I would be restricted at somewhere around Rs. 5L per month and the four-wheeler will cost in the range of Rs. 16-17 lakhs.

Suggest something please!

Move to one account
Make it 50 lakh u will be upgraded easily
If wealth has been over 3 month


@imdjay what happened to your private banking request

 

[pslashb]

Dont think Private is on MAB basis anymore. It is on basis of investments (other than FD) via IDFC.

 

[quino]

hmm i didn't knew this plus very little chances of actual RP earned on 4 wheeler trnx

why not? i purchased 2 wheeler recently. got RPs within couple of days automatically.

try not to use amex

why so? FR?

 

[vaibhav111vaibhav111 is verified member.]

why not? i purchased 2 wheeler recently. got RPs within couple of days automatically.

why so? FR?

Cause no rp on bill payment on Amex. I have paid multiple time through Amazon pay wallet haven’t earned single rp yet that why.

 

[imdjay]

Make it 50 lakh u will be upgraded easily

it's not easy with 50L. 🙄

 

[Vasuki]

it's not easy with 50L. 🙄

Did you got the upgrade

 

[imdjay]

Did you got the upgrade

The request has been raised. was asked to wait for 2 more days. Let's see.