IDFC Select Bank Account Opening Query

[Sumedh03]

Hi guys, I have some 2.5 lakhs which I don't need for the next 3-4 months.
I want to open an IDFC Select account.
I don't have any account with IDFC, just have a 5k FD with them for WOW card.

I have a few questions:
1. Can I open a new account with 2.5 Lakhs and get Select upgrade from day 1.
2. What is the min balance requirement for Select account so I don't get downgraded ?
3. For how many months do I keep the money in my account to avoid getting downgrade ?
4. Are there any non-maintenance charges for IDFC account?
5. How can I know MAB required for the new account opened ? (Does it show account variant and MAB required on app like HDFC)

 

[sathish593]

@Sumedh03 iam also planning to open the same account. did you get the info you are looking for?

 

[InfamousInfamous is verified member.]

You can get it done with an IF of about 2L and even 1L in some case, all depends on the branch guys.

The MAB will depend on the account type - 10k or 25k, whichever they do it for you, you will know it at the time of opening the account, you will also get an SMS.

Afaik, select from day 1 might not be possible but within 2-3 days you can get upgraded.

 

[VasukiVasuki is verified member.]

Hi guys, I have some 2.5 lakhs which I don't need for the next 3-4 months.
I want to open an IDFC Select account.
I don't have any account with IDFC, just have a 5k FD with them for WOW card.

I have a few questions:
1. Can I open a new account with 2.5 Lakhs and get Select upgrade from day 1.
2. What is the min balance requirement for Select account so I don't get downgraded ?
3. For how many months do I keep the money in my account to avoid getting downgrade ?
4. Are there any non-maintenance charges for IDFC account?
5. How can I know MAB required for the new account opened ? (Does it show account variant and MAB required on app like HDFC)

Give 3 lakh cheque they will open straight away in 5 minutes

U need to maintain 25k
As 99.99999 % they will open 25k base varaint account
Once u get account open
Next day do 1k + transaction on dc for 2k point's
In few days select dc will appear
Then do 1k+ transaction too for select will get 4k points welcome

No non maintenance charges once u r in banking program

U can move money after 2-3 month as u said


Now select is opened straight away while account opening they will select the " select program"

 

[VasukiVasuki is verified member.]

@sathish593 I hope u got the answers too

 

[quino]

No non maintenance charges once u r in banking program

do you know if this nil non-maintainance charges is applicable to the current account as well?

i.e., user has savings account & converted it to wealth. now he opens current account, would NMC apply on the current account or the exemption applies to both savings & current accounts.

 

[sathish593]

@sathish593 I hope u got the answers too

thanks for the info, got the answer..

 

[✪ D&C Cards Connoisseur 💳]

Give 3 lakh cheque they will open straight away in 5 minutes

U need to maintain 25k
As 99.99999 % they will open 25k base varaint account
Once u get account open
Next day do 1k + transaction on dc for 2k point's
In few days select dc will appear
Then do 1k+ transaction too for select will get 4k points welcome

No non maintenance charges once u r in banking program

U can move money after 2-3 month as u said


Now select is opened straight away while account opening they will select the " select program"

@Vasuki Hello, there is one confusion in your comment. You are correct that now 'Select' or 'Wealth' can be opened straight away while account opening and I also confirmed the same from two branches. You are also correct that both the accounts doesn't have any non-maintenance charges, making it literally zero mab.
But the point that 25K needs to be maintained is bit confusing. One needs to maintain 25K only if the account is opened in 25K segment base variant, after which the account needs to be upgraded to Select program. But when account is directly opened in 'Select' or 'Wealth', then the base variant is 'Select' or 'Wealth' and there is no need to maintain any such specific amount like 10K or 25K.

 

[quino]

do you know if this nil non-maintainance charges is applicable to the current account as well?

i.e., user has savings account & converted it to wealth. now he opens current account, would NMC apply on the current account or the exemption applies to both savings & current accounts.

@Vasuki ? ?

 

[VasukiVasuki is verified member.]

@Vasuki Hello, there is one confusion in your comment. You are correct that now 'Select' or 'Wealth' can be opened straight away while account opening and I also confirmed the same from two branches. You are also correct that both the accounts doesn't have any non-maintenance charges, making it literally zero mab.
But the point that 25K needs to be maintained is bit confusing. One needs to maintain 25K only if the account is opened in 25K segment base variant, after which the account needs to be upgraded to Select program. But when account is directly opened in 'Select' or 'Wealth', then the base variant is 'Select' or 'Wealth' and there is no need to maintain any such specific amount like 10K or 25K.

What can I say

10k or -25 k is account base varaint

Select and welath is program
Now u get directly enrolled into banking program post account opening
Isn't equivalent that now idfc is opening select account

@Vasuki ? ?

If you have banking program, usually Non maintenance charges are nill
But ask idfc over email.that
If you open idfc current account will it comes under same welath /select banking program

 

[Sumedh03]

@Vasuki

So I tried to open Select account by giving 3L IP but they tried and couldn't open Select account as I'm already a CC holder and have Customer ID.
They said that have raised the request to upgrade to select online and will be upgraded to select in 4-5 days. I have a few questions:

1. I opened 25k account and want to degrade my account to 10k variant after getting select ( Can I do it or not ?)
2. Will downgrading my account variant cancel the select status and select DC?
3. How to check service requests for select upgrade on app or net banking?
4. How long will the select status remain after removing money ? ( Has anyone been removed from their select status?)

 

[VasukiVasuki is verified member.]

They said that have raised the request to upgrade to select online and will be upgraded to select in 4-5 days. I have a few questions:

Good it's standard
Upgrade by next week most probably

I opened 25k account and want to degrade my account to 10k variant after getting select ( Can I do it or not ?)
2. Will downgrading my account variant cancel the select status and select DC?

Why would you downgrade account 💀
But u can after 3 month

Banking program has nothing to do with account varaint I have said that time & again

 

[Sumedh03]

Why would you downgrade account 💀

I wanted 10k base variant but he said open in 25k and on 1 week next month he will make the 25k variant to 10k base variant.

Banking program has nothing to do with account varaint I have said that time & again

I know but as from 25k to select account upgrade we get new debit card so will 25k to 10k downgrade get me new debit and cancel select dc or not.

@Vasuki

 

[H4CK_H0PP3R]

Hi, I opened IDFC savings account with campaign of 0 balance account, it does show 10k MAB but actually it's 0 balance account. I have no problem to keep even 25k. Recently for "select" account upgradation I kept some funds for 2 months & got eligible for "select" program. It is done today but yet to reflect on system. My query is I wanted to transfer excess funds above 3L to another bank . My plan is to do as soon as possible once this conversion is made successfully. So is it safe to do or not? I heard some freezeing of accounts so I wanted to confirm what should be my strategy. My plan is to keep 3L & not touch it at all unless there is some emergency.

 

[Salman925492]

IDFC 10K Account to Select Upgrade – Need Advice

Hi everyone,

I opened an IDFC 10K MAB savings account on 7 June 2025. Currently maintaining ₹2.1+ lakhs average balance. I mainly use it for credit card bill payments via debit card to earn rewards. Zero charges so far – big plus.

Now my RM is visible in the app. I asked him to upgrade my account to Select (3L MAB).

He suggested:

1. He’ll try to get higher officer approval to upgrade directly.

2. Or else, he’ll close the 10K account and open a new Select account – even with 1–2L balance, and claimed no MAB enforcement.

🔹 Has anyone done this?
🔹 Is it better to upgrade or close & reopen?
🔹 Will I lose any benefits or history if I go for a new account?

Looking for your suggestions. Thanks in advance!

 

[Salman925492]

Need Guidance on Upgrading IDFC 10K MAB Account to Select Variant

Hi everyone,
I need some suggestions from fellow Technofino members regarding my IDFC FIRST Bank savings account.

🔹 I had opened a normal savings account with 10K Monthly Average Balance (MAB) on 7th June 2025.

🔹 Since then, my maintained average balance is already ₹2.10+ lakhs.

🔹 My main use of this account is to earn reward points by paying credit card bills via the IDFC debit card, and honestly, zero charges on most services is a big bonus.

Initially, the app didn’t show any Relationship Manager (RM), but now it does. I contacted the RM recently regarding upgrading my 10K variant to the Select variant (which requires a 3L MAB).

🔻 What the RM told me:

He’s suggesting approval from higher officers is needed to upgrade my existing 10K account to Select.

Alternatively, he suggested closing my 10K account and opening a new Select variant account, even with 1–2 lakh balance (not necessarily maintaining 3L MAB).

He also added that there won’t be any penalty or issue even if I don’t maintain MAB in the new Select account, as per his assurance.


❓ My Dilemma:

Should I request upgrade through RM’s higher officer route?

Or should I let them close this 10K account and open a fresh Select account?

Will there be any impact on account history, rewards, or debit card benefits if I close and reopen?

Is it worth taking the RM’s word that Select variant won’t enforce the 3L MAB?

Would love to hear your guidance or anyone with similar experience.

Thanks in advance!

 

[Mcdatptpssb]

Need Guidance on Upgrading IDFC 10K MAB Account to Select Variant

Hi everyone,
I need some suggestions from fellow Technofino members regarding my IDFC FIRST Bank savings account.

🔹 I had opened a normal savings account with 10K Monthly Average Balance (MAB) on 7th June 2025.

🔹 Since then, my maintained average balance is already ₹2.10+ lakhs.

🔹 My main use of this account is to earn reward points by paying credit card bills via the IDFC debit card, and honestly, zero charges on most services is a big bonus.

Initially, the app didn’t show any Relationship Manager (RM), but now it does. I contacted the RM recently regarding upgrading my 10K variant to the Select variant (which requires a 3L MAB).

🔻 What the RM told me:

He’s suggesting approval from higher officers is needed to upgrade my existing 10K account to Select.

Alternatively, he suggested closing my 10K account and opening a new Select variant account, even with 1–2 lakh balance (not necessarily maintaining 3L MAB).

He also added that there won’t be any penalty or issue even if I don’t maintain MAB in the new Select account, as per his assurance.


❓ My Dilemma:

Should I request upgrade through RM’s higher officer route?

Or should I let them close this 10K account and open a fresh Select account?

Will there be any impact on account history, rewards, or debit card benefits if I close and reopen?

Is it worth taking the RM’s word that Select variant won’t enforce the 3L MAB?

Would love to hear your guidance or anyone with similar experience.

Thanks in advance!

Get every thing in a MAIL for the Future reference.

 

[✪ D&C Cards Connoisseur 💳]

Need Guidance on Upgrading IDFC 10K MAB Account to Select Variant

Hi everyone,
I need some suggestions from fellow Technofino members regarding my IDFC FIRST Bank savings account.

🔹 I had opened a normal savings account with 10K Monthly Average Balance (MAB) on 7th June 2025.

🔹 Since then, my maintained average balance is already ₹2.10+ lakhs.

🔹 My main use of this account is to earn reward points by paying credit card bills via the IDFC debit card, and honestly, zero charges on most services is a big bonus.

Initially, the app didn’t show any Relationship Manager (RM), but now it does. I contacted the RM recently regarding upgrading my 10K variant to the Select variant (which requires a 3L MAB).

🔻 What the RM told me:

He’s suggesting approval from higher officers is needed to upgrade my existing 10K account to Select.

Alternatively, he suggested closing my 10K account and opening a new Select variant account, even with 1–2 lakh balance (not necessarily maintaining 3L MAB).

He also added that there won’t be any penalty or issue even if I don’t maintain MAB in the new Select account, as per his assurance.


❓ My Dilemma:

Should I request upgrade through RM’s higher officer route?

Or should I let them close this 10K account and open a fresh Select account?

Will there be any impact on account history, rewards, or debit card benefits if I close and reopen?

Is it worth taking the RM’s word that Select variant won’t enforce the 3L MAB?

Would love to hear your guidance or anyone with similar experience.

Thanks in advance!

Sharing my personal experience. I just used to hold Flipkart Pay Later powered by IDFC. When I approached for direct Select a/c opening, the option of directly opening Select or Wealth doesn't show up. This is bcoz a Customer ID was already present against my details for that pay later. So I had to go with the Regular 25K a/c variant, give them 3L chq and got upgrade to Select in few days. I further doubt if your RM will update you to Select below 3L Mab / IP.