IDFC First Bank has always been aggressive in onboarding customers. It offered a 6% percent interest rate (now reduced to 4%) on its savings bank account until last month. It still runs a new customer offer in which account holders get up to Rs 3000 worth of Amazon vouchers for doing simple tasks like UPI transfer or paying bills. We don’t have that many banks offering rewards for opening a savings account and more so for continuing using our debit cards. IDFC First Bank has now sent out a spend-based offer for the month of June 2021 where one can get 10% cashback up to Rs 1000 for using the Visa debit cards. Here are the offer details.
IDFC First Bank Visa Debit Card Spend Offer for June 2021
|Offer||Spend using IDFC First Bank Visa Debit Card and 10% cashback up to Rs 1000|
|Minimum Spend||Rs 5000|
|Offer Validity||12th to 30th June 2021|
|Fulfillment||By 31st July 2021 – Cashback will be posted directly to the account|
|T&C||Offline and Online purchase transactions on Debit Card during the campaign period would be considered for the offer.|
ATM withdrawals/ Wallet uploads/ EMI transactions/ Fund transfers are not eligible for the offer.
With the reduced interest rate of 4% on its savings account, IDFC First Bank seems to be taking steps to retain existing customers. 10% cashback for using a debit card is a great offer from IDFC First Bank. The required spending threshold is easily achievable with normal spends and the reward rate is also more than all credit cards with direct cashback to account.
Wallet uploads and fund transfers are understandably excluded to ensure only genuine transactions take place.
Update – Offer fulfilled on 24th July. IDFC First Bank has credited the cashback in the savings account.
Received this offer from IDFC First Bank? Do share and comment.