Being Offered IDFC First 10k MAB/AMB Savings Account as Zero Balance Account
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I got a message on WhatsApp from IDFC First Bank for being offered zero balance savings account. I already have IDFC First Wealth credit card, so, that could be the reason behind the offering.
Upon validating mobile number and Aadhaar, it shows 10k MAB/AMB account as zero balance account but not the 25k MAB/AMB one.
Is it a good choice to take? Also, everything including debit card is free with it, right? Suggestion please and if anyone has availed this offer earlier, what's your experience.
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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.
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.
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.
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
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Compared to what ? What other accounts do you have ? Unnecessarily dont open bank accs .