Starting January 2022, IDFC First Bank has introduced ‘High Networth Banking Tiers’ for their savings account holders, over and above their Regular IDFC Savings Accounts (which I have already covered, check the link). In today’s post, we will be looking at the IDFC High Networth Banking Tiers.
IDFC First Bank Savings Account Tiers:
- IDFC First Bank Classic Account.
- IDFC First Bank Signature Account.
- IDFC First Bank Select Account.
- IDFC First Bank Wealth Account.
- IDFC First Bank Private Account.
While 1 & 2 are the regular banking tiers of IDFC First Bank, 3,4,5 are the part of High Networth Banking Program, which are invite-only.
Eligibility Criteria for the IDFC First Bank Account:
- IDFC First Bank Classic Account: 10k MAB.
- IDFC First Bank Signature Account: 25k MAB.
- IDFC First Bank Select Account: 3L MAB / 25L TRV.
- IDFC First Bank Wealth Account: 10L MAB / 75L TRV.
- IDFC First Bank Private Account: 50L MAB / 3Cr TRV.
Features of IDFC First High Networth Bank Program:
| Features | Select | Wealth | Private |
|---|---|---|---|
| Eligibility | 3L MAB / 25L TRV | 10L MAB / 75L TRV | 50L MAB / 3Cr TRV |
| Free Memberships | Amazon Prime, Times Prime, vHealth | Amazon Prime, Zomato Pro, Times Prime, vHealth | Amazon Prime, Zomato Pro, SonyLIV, Times Prime, vHealth |
| Prequalified Credit Cards | IDFC First Select Credit Card | IDFC First Wealth Credit Card | IDFC First Private Credit Card |
| Free Banking Services | NEFT, RTGS, IMPS, UPI, Unlimited Free ATM Transactions | NEFT, RTGS, IMPS, UPI, Unlimited Free ATM Transactions | NEFT, RTGS, IMPS, UPI, Unlimited Free ATM Transactions |
| Free Locker | No | Yes | Yes |
| Free Cheque Pickups | 5 | 15 | Unlimited |
| Debit Card | Select Debit Card | Wealth Debit Card | Private Metal Debit Card |
| Airport Lounge Access per Quarter | 2 Domestic | 3 Domestic + 2 International | 4 Domestic + 6 International |
| Free Golf Lessons | No | 12 | 12 |
How to Apply for IDFC First Bank Savings Account?
Click this link to open an IDFC First Bank Savings Account Online.
Kindly note that the IDFC First High Networth Banking programs are Invite-only.
You need to open a Classic & Signature Account online by funding 10k or 25k respectively. Complete the vKYC and your Account Kit will be despatched to your registered address.
In case you keep the necessary balance on your account, you will get an upgrade to IDFC Select, Wealth, or Private Banking Program within 3 months. Note that the balance maintenance eligibility may vary from account to account, and you may get the invite even without qualifying the criteria.
For IDFC Savings Account FAQ, kindly check this post.
For the latest IDFC First Bank Interest Rates, kindly visit this page.
Information Source: TechnoFino & IDFC First Bank.
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