Being Offered IDFC First 10k MAB/AMB Savings Account as Zero Balance Account

Compared to what ? What other accounts do you have ? Unnecessarily dont open bank accs .

baludesi wrote:

Compared to what ? What other accounts do you have ? Unnecessarily dont open bank accs .

Not from comparison point of view, wanted to know if this accounts as a good deal/opportunity or not.

I don't have many bank accounts, so, not an issue there. I currently have SBI, PNB, HDFC Bank, Bandhan Bank and Paytm Payments Bank savings account. Probably will close DBS Bank Savings Account.

Already you have too many accs unless there is a strong reason dont open.

Idfc has good fd rates, that may be one reason to have it... Its zero balance so no fees...but do check if there is any debit card annual charges...normally debit card charges are nil with MAB accounts in IDFC

I used to park surplus funds in IDFC Savings account as it used to give more than 6% interest but now they have reduced the interest rates. They used to give good offers on debit card like 250rs off on BMS every month but they have removed that also. So not using it that much. They gave me Wealth Debit card and Select Credit card hence still haven't closed it. If you already have their Wealth Credit card and many Savings Accounts its doesn't give any additional benefit for open Savings account with IDFC.

swapnilrpatil wrote:

I used to park surplus funds in IDFC Savings account as it used to give more than 6% interest but now they have reduced the interest rates. They used to give good offers on debit card like 250rs off on BMS every month but they have removed that also. So not using it that much. They gave me Wealth Debit card and Select Credit card hence still haven't closed it. If you already have their Wealth Credit card and many Savings Accounts its doesn't give any additional benefit for open Savings account with IDFC.

I know I've many savings accounts but out of those, SBI is a must and PNB I'm continuing only because of their low cost RuPay Select debit card offering.

With HDFC Bank, I've my salary account and acts as primary bank account.

Bandhan Bank is for parking emergency fund and have a couple of FDs.

Paytm Payments Bank is for small UPI transactions where merchant transactions doesn't work or are of below Rs. 34.

DBS Savings account is something that's unnecessary for me at this moment. Got it for saving on Big Basket but since Sodexo, the debit card stands pretty useless.

In short, in my eyes, that's not too many accounts for me personally and I'm pretty bullish on IDFC First Bank as a customer. I did try to negotiate with them for getting 25k MAB account as zero balance account but they denied it saying I can avail only what I'm being offered.

Pros:

- Good for getting Pre-approved CC Offers

- Good as 0 Bal account 

Cons: 

- Rarely Bank Discounts in any Ecom sites

- only 4% savings rate below 10L

- normal 7.5% fd rate for 1 year.

Conclusion:

Only open 0 Bal account if you need pre-approved cc offer or no benefits in this account now a days.

Watcher wrote:

Pros:

- Good for getting Pre-approved CC Offers

- Good as 0 Bal account 

Cons: 

- Rarely Bank Discounts in any Ecom sites

- only 4% savings rate below 10L

- normal 7.5% fd rate for 1 year.

Conclusion:

Only open 0 Bal account if you need pre-approved cc offer or no benefits in this account now a days.

Most users complain that there are either none or terrible pre approved credit card offers.

you have the same or maybe even better chances of applying without a savings account with them

I also have exactly same offer as I am holding IDFC Wealth CC.

But since I have already 3 Bank accounts , I don't want to open 1 more Savings account just because it's free.

lalilulelo wrote:

Most users complain that there are either none or terrible pre approved credit card offers.

you have the same or maybe even better chances of applying without a savings account with them

Yes it's better.

Watcher wrote:

Pros:

- Good for getting Pre-approved CC Offers

- Good as 0 Bal account 

Cons: 

- Rarely Bank Discounts in any Ecom sites

- only 4% savings rate below 10L

- normal 7.5% fd rate for 1 year.

Conclusion:

Only open 0 Bal account if you need pre-approved cc offer or no benefits in this account now a days.

i have been holding saving cc for 2 + years but no cc offer except wow cc.

sahil1033 wrote:
I know I've many savings accounts but out of those, SBI is a must and PNB I'm continuing only because of their low cost RuPay Select debit card offering.

With HDFC Bank, I've my salary account and acts as primary bank account.

Bandhan Bank is for parking emergency fund and have a couple of FDs.

Paytm Payments Bank is for small UPI transactions where merchant transactions doesn't work or are of below Rs. 34.

DBS Savings account is something that's unnecessary for me at this moment. Got it for saving on Big Basket but since Sodexo, the debit card stands pretty useless.

In short, in my eyes, that's not too many accounts for me personally and I'm pretty bullish on IDFC First Bank as a customer. I did try to negotiate with them for getting 25k MAB account as zero balance account but they denied it saying I can avail only what I'm being offered.

What is charge yearly for pnb/sbi select debit card I am currently having union Bank debit card annual charge 470 around 

vimalbpatel82 wrote:

What is charge yearly for pnb/sbi select debit card I am currently having union Bank debit card annual charge 470 around 

SBI recently started offering RuPay Select DC and it's only for salaried account AFAIK, please confirm otherwise.

PNB hiked annual fee for their RuPay Select DC w.e.f. 5th June, 2023

Union Bank of India still offers RuPay Select DC at lowest fee, so, luck you since they've stopped issuing the debit card for general savings account having 2k MAB/QAB