IDFC First Bank Savings Account

Hi everyone!
This is me 'SAKSH GROVER' signing in with my first thread. I was just researching about opening a new bank account. Finding myself confused with so many options like Kotak 811, 811 Super, IDFC First, Indusind, etc. Then I came across this IDFC First Bank Account with no charges and hidden fees. Still I'm finding myself in a dilemma between Kotak 811 Super and IDFC First Savings Account. I'm viewing a long-term picture like doing FDs, getting credit cards, loans, investments and also getting benefits on cards. So help a guy out here!
So this is me and I hope that I may get a resolution as soon as possible.

 

[TaxWiser]

Hi everyone!
This is me 'SAKSH GROVER' signing in with my first thread. I was just researching about opening a new bank account. Finding myself confused with so many options like Kotak 811, 811 Super, IDFC First, Indusind, etc. Then I came across this IDFC First Bank Account with no charges and hidden fees. Still I'm finding myself in a dilemma between Kotak 811 Super and IDFC First Savings Account. I'm viewing a long-term picture like doing FDs, getting credit cards, loans, investments and also getting benefits on cards. So help a guy out here!
So this is me and I hope that I may get a resolution as soon as possible.

Hey Saksh! Opening a new bank account can indeed be a bit overwhelming with so many options. Let's break it down:

Kotak 811 Super

• Interest Rate: Up to 3.5% p.a.
• Minimum Balance: Zero balance account.
• Debit Card: Classic Debit Card with a purchase limit of Rs. 200,000 per day and ATM cash withdrawal limit of Rs. 40,000 per day.
• Additional Benefits: Offers on debit cards, good customer service, and technology-enabled banking

IDFC First Savings Account

• Interest Rate: Up to 6% p.a. on balances up to Rs. 1 lakh.
• Minimum Balance: Zero balance account.
• Debit Card: Offers a free debit card with no annual charges.
• Additional Benefits: No hidden fees, good customer service, and higher interest rates

Long-Term Considerations

• FDs: Both banks offer competitive FD rates.
• Credit Cards: Kotak Mahindra Bank has a wide range of credit cards with various benefits. IDFC First Bank also offers credit cards with attractive rewards.
• Loans: Both banks provide personal loans, home loans, and other types of loans.
• Investments: Both banks offer investment options like mutual funds and insurance.

Conclusion
If you're looking for higher interest rates and no hidden fees, IDFC First Savings Account might be the better choice. However, if you value additional benefits on debit cards and a wide range of credit card options, Kotak 811 Super could be more suitable.

I hope this helps you make an informed decision!
(Source: Conversation with Gemini AI)

Pro Tip: A tree cannot bear all kinds of fruit, So Always buy what you need, not what the salesperson wants to sell.

 

[raj..]

Hi everyone!
This is me 'SAKSH GROVER' signing in with my first thread. I was just researching about opening a new bank account. Finding myself confused with so many options like Kotak 811, 811 Super, IDFC First, Indusind, etc. Then I came across this IDFC First Bank Account with no charges and hidden fees. Still I'm finding myself in a dilemma between Kotak 811 Super and IDFC First Savings Account. I'm viewing a long-term picture like doing FDs, getting credit cards, loans, investments and also getting benefits on cards. So help a guy out here!
So this is me and I hope that I may get a resolution as soon as possible.

If you want cc and loan then I'll suggest you IDFC .

But in other hands kotak has wide services

 

[krishna1718]

Go with kotak 811 super no need to maintain minimum balance kotak will start to issue Credit cards soon

 

[sakshgrover2]

Go with kotak 811 super no need to maintain minimum balance kotak will start to issue Credit cards soon

My first goal is to get a credit card and build my CIBIL Score for future purposes. Also I have heard that in IDFC the probability of getting credit cards is higher and there is no hidden fees in IDFC. If possible please let me know if IDFC offers zero balance account or not? Is 10000/- per month variant a good option in IDFC?

 

[krishna1718]

My first goal is to get a credit card and build my CIBIL Score for future purposes. Also I have heard that in IDFC the probability of getting credit cards is higher and there is no hidden fees in IDFC. If possible please let me know if IDFC offers zero balance account or not? Is 10000/- per month variant a good option in IDFC?

if you dont have good itr of 5 lakhs above and cibil 770+ you dont expect you get creditcard. To build creditcard you must go with FD based Credit card for that Super money card is most safest fd card with minimum fd 100, if you want to go with better fd card with daily usage then get hdfc fd based credit card with minimum fd of 20000 Tata Neu Plus use it and improve cibil score with benefits