https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8440117
Closing IDFC and Yesbank Savings accounts
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IDFC – Rs25K MAB is too high without attractive interest rates or offers
YesBank: No reason to keep this account Rs10K held up unnecessarily
Have premium cards(LTF) from both these banks hence maintained accounts for some time
Any suggestions?
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https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8440607
Yes Bank acc definitely needs closure. IDFC bank mab is indeed high but 25k at 4% vs 25k at 6% is just a difference of 500 for a year & idfc does occasionally give some 250 gv offer on debit card spend. You are getting a visa signature card for free also & it is likely that interest rate too will increase once rbi again increase repo rate to control inflation.
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8441202
Check small finance banks like Equitas, AU, etc.
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8460519
dhinchakrohit wrote:Check small finance banks like Equitas, AU, etc.
got a call today that i did a 100k+ in 2 months (upi trnx ) and rbi dont allow such high trnx in saving account so dont do these in future 😒
well after all they are small finance bank so dont expct to do high value trnx in this bank
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8460945
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thebr0b wrote:got a call today that i did a 100k+ in 2 months (upi trnx ) and rbi dont allow such high trnx in saving account so dont do these in future 😒
well after all they are small finance bank so dont expct to do high value trnx in this bank
Didn’t you ask them for any such circular from RBI?
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8485244
guest_999 wrote:Yes Bank acc definitely needs closure. IDFC bank mab is indeed high but 25k at 4% vs 25k at 6% is just a difference of 500 for a year & idfc does occasionally give some 250 gv offer on debit card spend. You are getting a visa signature card for free also & it is likely that interest rate too will increase once rbi again increase repo rate to control inflation.
IDFC Debit cards are no longer free, from June 2022 there will be Rs 499 annual charge .
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8485361
Good decision. Close those accounts
I have also closed my IDFC account, I do keep Yes bank account as its family relationship
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8485403
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8495638
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8497638
I have account in both which i initially opened due to higher interest rates. . and i am keeping both open. Some reasons:
1. Interset in FD is saved from tax if you have multiple bank accounts as DS is not deducted below 10K.
2. Till some time back Yes Bank FD was still giving 7%, mine is still running. Even now their fd gives 6.25%.
3. Free debit card of IDFC gives lounge access and 10% cashback offer from time to time. Theres always a bigbasket offer too along with swiggy.
4. Yes bank credit card gives 200 off BBdaily wallet recharge, I use bbdaily for daily milk and other grovcery delivery. Yes bank rupay debit card gives 100 off on 500 every month on amazon pay.
All in all there’s nothing i have got to loose with these 2 accounts. I do have a bit of surplus fund that i park in these banks savings and FD accounts and MAB is not a problem consequently. So before jumping to any conclusion think twice before closing any bank account unless you being asked to pay an additional charge for any of their services.
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8497741
i went IDFC branch for account closure, but they offered me IDFC first select privileged banking, i was just maintaining 70K no more than that.
try ur luck....
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8505655
They were offering the same to me too but i was adamant on closing the account..hence closed it 
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8505693
ankitmania2787 wrote:i went IDFC branch for account closure, but they offered me IDFC first select privileged banking, i was just maintaining 70K no more than that.
try ur luck….
Hi, can you please elaborate the benefits?
Because I couldn’t find the same on online. Is it same as ‘Private’ programme of IDFC First Bank?
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8505756
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8552094
I have recently closed my Yes bank account due to the same reason.
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8563202
I do not have an account in either. I was planning to open an account at IDFC, but now I won't.
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8567595
guest_999 wrote:paji kab badega interest rate?Yes Bank acc definitely needs closure. IDFC bank mab is indeed high but 25k at 4% vs 25k at 6% is just a difference of 500 for a year & idfc does occasionally give some 250 gv offer on debit card spend. You are getting a visa signature card for free also & it is likely that interest rate too will increase once rbi again increase repo rate to control inflation.
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8568605
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8568776
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guest_999 wrote:Paji don't understand fd vala point
https://timesofindia.indiatimes.com/business/in...
https://www.desidime.com/discussions/closing-idfc-and-yesbank-savings-accounts?page=1#post_8568788
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kukdookoo wrote:Same logic, basically banks have too much money so not possible for them to increase interest rates in line with rbi because it is not possible for them to earn supporting profits on this much large amt of money lying with them in todays times with recessionary mood in economy.
Paji don't understand fd vala point
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Yes Bank acc definitely needs closure. IDFC bank mab is indeed high but 25k at 4% vs 25k at 6% is just a difference of 500 for a year & idfc does occasionally give some 250 gv offer on debit card spend. You are getting a visa signature card for free also & it is likely that interest rate too will increase once rbi again increase repo rate to control inflation.