IDFC Wealth / Select Bank account not possible anymore with IP

[sparkit]

Last Month I have enquired IDFC branch near me about Select/ Wealth program.
They told me they need 3L/ 10L respectively. And then I negotiated for Wealth account with 5 Lakh IP.

And today when I went to the same branch to create Wealth account with 5 Lakh IP, They told me that very recently their app is updated and cannot directly open Wealth/ select account. I have to maintain atleast for 1 month and then they will raise the request.

They also confirmed it again by showing the app itself.

And the guy told me, he have already mailed their higher officials about this and will tell me if anything possible to open directly.

Anyone opened wealth/select through IP very recently?

 

[theflash]

@theflash @Riya Sharma . Can I straight away use the card and start accruing rps? Or do I need to activate anything under first reward points? As this is a new for me.

Start using it Directly

 

[VasukiVasuki is verified member.]

@Vasuki , pls help if you know abt this

Just use it above 1000 once you activate your select Debit card..

As suggested u can do card payment or buy on 2 item on amazon & cancel in part 💀

 

[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!

 

[shashank08]

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!

Idfc select/wealth are the banking programs not the account type..
So even after having select/wealth your account type doesn't change..

So you don't need to close your account.
In fact my account, which is 25K variant account, was first upgraded to the select and then to wealth.
So my account is still 25K variant with a wealth banking program..

So ask your RM to enroll in the wealth program for the existing account only..

Hope this will help you.

 

[Sahil_07]

Idfc select/wealth are the banking programs not the account type..
So even after having select/wealth your account type doesn't change..

So you don't need to close your account.
In fact my account, which is 25K variant account, was first upgraded to the select and then to wealth.
So my account is still 25K variant with a wealth banking program..

So ask your RM to enroll in the wealth program for the existing account only..

Hope this will help you.

How did you upgrade it to select or wealth without maintaining 3/5 lakh?

Is there any other way?
I am planning to open the 25k account variant

 

[shashank08]

Select was auto provided and wealth was after maintaining the funds..

When i said variant remains same 10K or 25K..
One has to maintain AMB as per account variant to avoid NMC..
If you are not maintaining 10L AMB for wealth and 3L for select then you are just risking losing the wealth or select status..
But if you are not maintaining 10K or 25K AMB which is required as per account variant then you will be charged NMC..

So overall idea is that it is not required to open a new account for wealth or select.. put the fund and ask RM to enroll your account in the wealth or select..

How did you upgrade it to select or wealth without maintaining 3/5 lakh?

Is there any other way?
I am planning to open the 25k account variant

 

[jyothisthaliath]

But if you are not maintaining 10K or 25K AMB which is required as per account variant then you will be charged NMC.

After wealth upgrade I'm keeping almost zero balance. Never faced issue of NMC charged to the account. Upon discussion with RM, they also confirmed that NMC is waived off for Wealth Banking

 

[Pravin1156]

After wealth upgrade I'm keeping almost zero balance. Never faced issue of NMC charged to the account. Upon discussion with RM, they also confirmed that NMC is waived off for Wealth Banking

But as per recent changes from January 1st IDFC recovering NMC in account. You told that Zero balance for wealth account doesn't attract NMC charges. For select variant also NMC waived.

 

[TripleAce]

Hi,
Has anyone been able to upgrade from Select to Wealth or Wealth to Private within 90 days?
My RM says there’s a cooling period of 90 days for such program upgradations.

 

[cc111222]

Can you

If you know any other bank that pays 2.5% rewards for credit card bills do let me know here.
RBL EDC can give you 5% but only upto 20k.
I have sometimes monthly credit card payment of 2- 3 lakhs. Which will give me 7500!
Other than this there is really no Jaw dropping feature.

Please can you confirm if this is still relevant .

 

[jyothisthaliath]

Can you

Please can you confirm if this is still relevant .

Yup. It is still being used for CC bill payment. Z@V0

 

[shashank08]

Thats great.. but overall message I wanted to give that- first to go with existing account upgrade.. Second OP mentioned 3L AMB so it is not 3L AMB for account but for the select relationship. AMB for account remains same as per 10K or 25K variant..
It is good to know that it is NMC waiver as I never required to know this info because I maintain far more than wealth requires at family grouping level..

After wealth upgrade I'm keeping almost zero balance. Never faced issue of NMC charged to the account. Upon discussion with RM, they also confirmed that NMC is waived off for Wealth Banking