-
Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.
How is your journey with IDFC Bank?
Akshay Ajmera
TF Premier
Savings account is good, if u are maintaining good balance, still they do multiple drama. Overall my experience is good, still I feel somewhere they are lethargic.
I want a locker in idfc bank for that i opened my wife account in idfc( i already have wealth account with idfc), with 10lakh of deposit. I opened through Rm online, and when I visited branch they told they don't have any locker, while my rm saw online that lockers are there. I wrote multiple mails and after 6 months i finally received locker, but it was too hectic.
Now I am requested them to join my and my wife account, it's been around 8 months with no response, and i am stopped communicating them.
No idea for loans
Credit card depends which one you get. I have idfc wealth credit card and used it only for movie offers
I want a locker in idfc bank for that i opened my wife account in idfc( i already have wealth account with idfc), with 10lakh of deposit. I opened through Rm online, and when I visited branch they told they don't have any locker, while my rm saw online that lockers are there. I wrote multiple mails and after 6 months i finally received locker, but it was too hectic.
Now I am requested them to join my and my wife account, it's been around 8 months with no response, and i am stopped communicating them.
No idea for loans
Credit card depends which one you get. I have idfc wealth credit card and used it only for movie offers
How are they on spam (aka marketing) mails/calls/SMSs these days?
Last time (circa 18-19 iirc) I had to close the a/c because they refused to stop those claiming those are account/service related so those cannot be stopped as essential comm. (Just like HSBC claimed that too when I had a Premier a/c)
And goodness getting hold of IDFC customer care was a marathon effort and then getting them to anything useful was just impossible after minutes of pain.
Has these changed?
PS. Genuinely curious because I am looking for an account that I will use as a daily/expense/UPI a/c 🙏
Please share more 🙏
Oh god, this is just nightmare. Even SBI manages better these days 😬
Yeah, IDFC still seems to be truly a nightmare bank then!
Everything is going well so far!
I have upgraded my wealth account from an initial 10k that I opened in early 2023. Last January, I added two more accounts to my family banking. The app is very efficient and includes all the features I need.
I apply IPOs with a few clicks through the mobile app.
As for the calls from RM, it has been minimal. I no longer receive calls from the virtual RM assigned to me (I used to, but I blocked them all with Truecaller). I handle everything with the branch staff, who have occasionally asked for funding before the fiscal year-end. They even travelled over 100 km to my home to open the family accounts.
Managing credit cards and add-ons is easy through the app. IDFC has one of the most sophisticated card issuance systems I've encountered.
Pros: You can see MCC codes directly in transaction details
Recently, I took a loan against my mutual funds, and it only cost me 700 rupees for a 5 lakh OD at 9.5%. In contrast, Groww wanted 13,000 rupees for a similar OD, while SmallCase Bajaj Fin charged 4,300 rupees for a 10-11% rate. The system is quite transparent, allowing me to see the accrued interest up to the current date easily. It is also straightforward to enhance limits or unpledge mutual funds.
Consider it based on your use case
Update - Charges mentioned in the loan case are processing fees + stamp charges
I have upgraded my wealth account from an initial 10k that I opened in early 2023. Last January, I added two more accounts to my family banking. The app is very efficient and includes all the features I need.
I apply IPOs with a few clicks through the mobile app.
As for the calls from RM, it has been minimal. I no longer receive calls from the virtual RM assigned to me (I used to, but I blocked them all with Truecaller). I handle everything with the branch staff, who have occasionally asked for funding before the fiscal year-end. They even travelled over 100 km to my home to open the family accounts.
Managing credit cards and add-ons is easy through the app. IDFC has one of the most sophisticated card issuance systems I've encountered.
Pros: You can see MCC codes directly in transaction details
Recently, I took a loan against my mutual funds, and it only cost me 700 rupees for a 5 lakh OD at 9.5%. In contrast, Groww wanted 13,000 rupees for a similar OD, while SmallCase Bajaj Fin charged 4,300 rupees for a 10-11% rate. The system is quite transparent, allowing me to see the accrued interest up to the current date easily. It is also straightforward to enhance limits or unpledge mutual funds.
Consider it based on your use case
Update - Charges mentioned in the loan case are processing fees + stamp charges
Last edited:
prankster
TF Ace
There has been no spamming as such. Only RM calls every now and then to sell some plans. I recently told him to not sell me anything, he has stopped since then.
My experience with IDFC is truly awesome.
After joining here, I came to know that we can earn some RPs by paying CC bills through IDFC DC so called the IDFC customer care and asked to be enrolled in their Wealth Program but they said it’s not possible as they have variants of 10K and 25K and can only be upgraded to the Program with time and TRV.
I then sent my office staff to their branch and next day (14.05.25) the BM, RM and 2 other executives visited my home and directly enrolled me in their Wealth Program.
Being from a tier 2/3 city helped as everyone knows everyone lol.
The BM and RM know me personally. I paid 5 lakhs for the account opening and promised I will keep the balance above 10 lakhs before month end.
The app is very user friendly and fast!!
As there was no pre approved CC showing while account opening, they asked if I wanted one and I declined as ICICI was already processing EPM at that time. My CIBIL was 768.
ICICI application was rejected and CIBIL (don’t know how) came down to 726.
In June, I read here that IDFC has revalued the CCs and mainly the Private CC and the Mayura.
Took the risk and asked the BM to apply for Mayura and it was rejected by the credit team on June 30th.
I was furious and next target I gave them was to promote me to Private program.
They agreed but categorically told me they can only do it once the account is 90 days old as per their cooling period regulations.
I told them I can’t wait for 90 days😂 and they said they will try… few of my calls/texts went unanswered for almost a week (helpless junior executives always received/replied immediately) and then the Private RM and BM called to tell me they had to take a lot of trouble by taking approvals from the country head, cluster head, regional head, program head, zonal head, hammerhead, zipperhead, loggerhead and other heads of state and continents 🤣
But Private was done and dusted in 66 days of account opening and the KIT will arrive day after tomorrow. Yesterday generated the new DC PIN and paid ₹1000 via Zavo through the already existing FirstTap and received 20,000 RPs.
2 days back they came and opened wife’s account in Wealth program which will eventually be converted to Private after 90 days. I know I could have asked for Private directly but I think they get some incentive or whatever if they start with Wealth and upgrade to Private. While opening the account, few CCs showed as pre-approved and we selected the IDFC HP Power+
Yesterday RH called and took details of my other CCs, limits and PAN and promised me he will anyhow deliver a CC once the account is 90 days old. I know I can get the Mayura for free but Private CC is 50K + GST looks promising and I don’t think they can deliver it LTF even with their Worldhead’s approval 😂
PS : Don’t ask me my TRV 🫢
Important fact : Either you find a good branch with a BM who’s willing to go out of the way to deliver things or try to find someone who works in IDFC!
As a matter of fact, same rule applies to all banks I guess!
For simple banking needs, all banks are fine but once we are TechnoFinos, we never have simple banking needs for sure lol.
After joining here, I came to know that we can earn some RPs by paying CC bills through IDFC DC so called the IDFC customer care and asked to be enrolled in their Wealth Program but they said it’s not possible as they have variants of 10K and 25K and can only be upgraded to the Program with time and TRV.
I then sent my office staff to their branch and next day (14.05.25) the BM, RM and 2 other executives visited my home and directly enrolled me in their Wealth Program.
Being from a tier 2/3 city helped as everyone knows everyone lol.
The BM and RM know me personally. I paid 5 lakhs for the account opening and promised I will keep the balance above 10 lakhs before month end.
The app is very user friendly and fast!!
As there was no pre approved CC showing while account opening, they asked if I wanted one and I declined as ICICI was already processing EPM at that time. My CIBIL was 768.
ICICI application was rejected and CIBIL (don’t know how) came down to 726.
In June, I read here that IDFC has revalued the CCs and mainly the Private CC and the Mayura.
Took the risk and asked the BM to apply for Mayura and it was rejected by the credit team on June 30th.
I was furious and next target I gave them was to promote me to Private program.
They agreed but categorically told me they can only do it once the account is 90 days old as per their cooling period regulations.
I told them I can’t wait for 90 days😂 and they said they will try… few of my calls/texts went unanswered for almost a week (helpless junior executives always received/replied immediately) and then the Private RM and BM called to tell me they had to take a lot of trouble by taking approvals from the country head, cluster head, regional head, program head, zonal head, hammerhead, zipperhead, loggerhead and other heads of state and continents 🤣
But Private was done and dusted in 66 days of account opening and the KIT will arrive day after tomorrow. Yesterday generated the new DC PIN and paid ₹1000 via Zavo through the already existing FirstTap and received 20,000 RPs.
2 days back they came and opened wife’s account in Wealth program which will eventually be converted to Private after 90 days. I know I could have asked for Private directly but I think they get some incentive or whatever if they start with Wealth and upgrade to Private. While opening the account, few CCs showed as pre-approved and we selected the IDFC HP Power+
Yesterday RH called and took details of my other CCs, limits and PAN and promised me he will anyhow deliver a CC once the account is 90 days old. I know I can get the Mayura for free but Private CC is 50K + GST looks promising and I don’t think they can deliver it LTF even with their Worldhead’s approval 😂
PS : Don’t ask me my TRV 🫢
Important fact : Either you find a good branch with a BM who’s willing to go out of the way to deliver things or try to find someone who works in IDFC!
As a matter of fact, same rule applies to all banks I guess!
For simple banking needs, all banks are fine but once we are TechnoFinos, we never have simple banking needs for sure lol.
Last edited:
Happy with it. Both savings account and credit card process was done in minutes. App is also pretty decent. Don't get any marketing calls, so I am happy.
SSquad
TF Premier
Hi, is the loan amount 40% of the pledged securities.
Processing charges ₹700 with only interest payment required each month at 9.5% right?
Y E S.
SSquad
TF Premier
I opted for zerodha capital at 11%, because I thought it's a straight forward process but interest rate is on the higher side.
Is it possible to link any broker demat account to avail the loan with IDFC?
g
Zerodha mutual funds are in demat form. Not sure how that will work out.
IDFC do show that they support demat holdings as well, but I couldn't figure out how to connect my CDSL stock holdings for pledging.
Seems like only NSDL is supported. Zerodha, I think, is in CDSL
www.idfcfirstbank.com
I used my SoA mutual funds taken through groww.
Zerodha mutual funds are in demat form. Not sure how that will work out.
Seems like only NSDL is supported. Zerodha, I think, is in CDSL
Loan Against Securities - IDFC FIRST Bank | IDFC FIRST Bank
Unlock the value of your investments with IDFC FIRST Bank's Loan Against Securities. Enjoy competitive interest rates, quick processing, and flexible repayment options tailored to your financial needs.
Last edited:
IDFC First is a no-nonsense bank — highly recommended!
Savings Account:
As advertised, it’s practically zero-charge. Both the ₹10K and ₹25K average balance variants offer good value. If you’re looking for a higher insurance cover, go for the ₹25K option; otherwise, the ₹10K variant is sufficient. Customer service is prompt and reliable. The mobile app is, in my opinion, the best in the industry.
Credit Cards:
Decent, but nothing exceptional. I’d only suggest keeping a lifetime free card. If you qualify for one of their paid cards, chances are you're also eligible for better options elsewhere. For example, if you’re eligible for the IDFC Mayura, you’d likely also qualify for the Axis Atlas — which offers significantly better rewards.
Loans:
Not worth considering — the interest rates are simply too high.
SSquad
TF Premier
Yes, most of the new age brokers are on CDSL.g
I used my SoA mutual funds taken through groww.
Zerodha mutual funds are in demat form. Not sure how that will work out.
IDFC do show that they support demat holdings as well, but I couldn't figure out how to connect my CDSL stock holdings for pledging.
View attachment 104480
Seems like only NSDL is supported. Zerodha, I think, is in CDSL
Loan Against Securities - IDFC FIRST Bank | IDFC FIRST Bank
Unlock the value of your investments with IDFC FIRST Bank's Loan Against Securities. Enjoy competitive interest rates, quick processing, and flexible repayment options tailored to your financial needs.
Thanks for sharing this information.
Gabbar.Singh
TF Select
Can you enlighten me how to do this? I am a wealth customer but didn't know this.
There’s an entire dedicated thread with 6000 posts regarding it lol
Similar threads
