Query on idfc card welcome benifit

1200 rp = Rs 300

bohemian wrote:

1200 rp = Rs 300

Thanks bro for reply. Will nps payment be eligible for reward points?

bohemian wrote:

1200 rp = Rs 300

Yes. Note that NPS charges around 1%, so net profit is 0.5% for using IDFC card for 20k txn

sriraghava189 wrote:

Thanks bro for reply. Will nps payment be eligible for reward points?

Yes, you will get reward points

sriraghava189 wrote:

Thanks bro for reply. Will nps payment be eligible for reward points?

yes

MrMonkey wrote:

Yes. Note that NPS charges around 1%, so net profit is 0.5% for using IDFC card for 20k txn

Yes I think it’s 0.85%. So 0.65% profit. And on top of that I will repay the bill amount via HDFC debit card which gives 1% back. So total 1.65% profit

MrMonkey wrote:

Yes, you will get reward points

One more question, should I do 20k transaction to get 6x reward points or 15k transaction is enough to get 6x points?

@sriraghava189 am thinking to apply, what’s the process and timeline like vkyc , home address verification etc.,
Can you share it

sriraghava189 wrote:

Yes I think it’s 0.85%. So 0.65% profit. And on top of that I will repay the bill amount via HDFC debit card which gives 1% back. So total 1.65% profit

hdfc doesn’t support idfc 

bohemian wrote:

1200 rp = Rs 300

Don’t they give 10x above 20k now?

deb3l wrote:

Don’t they give 10x above 20k now?

yes on incremental basis.
OP asked for 20000

any spend above 20000 gets 10x

for 30000

300 for 20000 and 250 for 10000

sriraghava189 wrote:

One more question, should I do 20k transaction to get 6x reward points or 15k transaction is enough to get 6x points?

15 k is enough, any online transaction will fetch 6x till 20000 and 10x above 20000. except rent , insuranc etc

bohemian wrote:

15 k is enough, any online transaction will fetch 6x till 20000 and 10x above 20000. except rent , insuranc etc

Got it. Any way to spend 15k for wallet loads without fees?

sriraghava189 wrote:

Got it. Any way to spend 15k for wallet loads without fees?

4000 per month on paytm via uber /zomato

Payzapp,

mobikwik upto 5000

bohemian wrote:

4000 per month on paytm via uber /zomato

Payzapp,

mobikwik upto 5000

bro how to transfer from PayZapp  wallet for free ?

utking wrote:

bro how to transfer from PayZapp  wallet for free ?

Not possible bro…afaik

bohemian wrote:

yes on incremental basis.
OP asked for 20000

any spend above 20000 gets 10x

for 30000

300 for 20000 and 250 for 10000

The bonus points are credited instantly as 6x or at the time of stmt generation?

deb3l wrote:

The bonus points are credited instantly as 6x or at the time of stmt generation?

10x bonus on statement generation

utking wrote:

bro how to transfer from PayZapp  wallet for free ?

Not possible.

sriraghava189 wrote:

Thanks bro for reply. Will nps payment be eligible for reward points?

Is this really the right moment to invest in NPS though? With the ongoing war, growing inflation and looming US recession.

Sharingan wrote:

Is this really the right moment to invest in NPS though? With the ongoing war, growing inflation and looming US recession.

Bro nps investment is for retirement. And mostly people invest in it to save tax, since you get additional 50k exemption on top of 80c 1.5L limit. So actually it’s better to invest now when market is down. Once this war is completed again the market will rise. But this is my opinion. You may have different opinion.

sriraghava189 wrote:

Bro nps investment is for retirement. And mostly people invest in it to save tax, since you get additional 50k exemption on top of 80c 1.5L limit. So actually it’s better to invest now when market is down. Once this war is completed again the market will rise. But this is my opinion. You may have different opinion.

Yes, I am not against investing in NPS. I have been investing for the past few years as well. Just mentioned it because of the timing, also market is currently not down.