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Only 9% interest in IDFC First Wealth

chinnodu

TF Buzz
I recently closed IDFC First Select and applied for Wealth on Card 2 Card basis online. The Wealth Credit card issued. It shows interest rate only 9%. Isn't it lowest in the industry?
 

drsel

TF Legend
You did not specify the time period for borrowing a 2--3% and lending at 5 to 6% interest.

Anyway, lending unsecured money to anybody (including friends and relatives) is very risky. chances of default are very high
 

drsel

TF Legend
I recently closed IDFC First Select and applied for Wealth on Card 2 Card basis online. The Wealth Credit card issued. It shows interest rate only 9%. Isn't it lowest in the industry?
You need to spent 20000 in the previous month to activate 2 spa and 2 Lounge benefits.
This card doesn't give high returns, so on what would you spend 20000 ?
 
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