Query on idfc card welcome benifit

143°
Sunrisers Hyderabad
sriraghava189

I recently got a idfc select card. There is a welcome benifit of 500 voucher on spending 15k within 90 days of card delivery. I am thinking of doing a nps transaction. How many reward points will I get if I do a transaction of 20k?

Expired
22 Comments  |  
8 Dimers
  • Sort By
Deal Lieutenant Deal Lieutenant
Link Copied

1200 rp = Rs 300

Sunrisers Hyderabad Sunrisers Hyderabad
Link Copied
bohemian wrote:

1200 rp = Rs 300

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

Deal Cadet Deal Cadet
Link Copied
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

Deal Cadet Deal Cadet
Link Copied
Expand
sriraghava189 wrote:

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

Yes, you will get reward points

Sunrisers Hyderabad Sunrisers Hyderabad
Link Copied
Expand
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

Sunrisers Hyderabad Sunrisers Hyderabad
Link Copied
Expand
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?

Deal Cadet Deal Cadet
Link Copied

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

Deal Cadet Deal Cadet
Link Copied
Expand
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 

Community Angel Community Angel
Moderator
Link Copied
bohemian wrote:

1200 rp = Rs 300

Don’t they give 10x above 20k now?

Deal Lieutenant Deal Lieutenant
Link Copied
Expand
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

Deal Lieutenant Deal Lieutenant
Link Copied
Expand
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

Sunrisers Hyderabad Sunrisers Hyderabad
Link Copied
Expand
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?

Deal Lieutenant Deal Lieutenant
Link Copied
Expand
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

Deal Cadet Deal Cadet
Link Copied
Expand
bohemian wrote:

4000 per month on paytm via uber /zomato


Payzapp,


mobikwik upto 5000

bro how to transfer from PayZapp  wallet for free ?

Deal Lieutenant Deal Lieutenant
Link Copied
Expand
utking wrote:

bro how to transfer from PayZapp  wallet for free ?

Not possible bro…afaik

Community Angel Community Angel
Moderator
Link Copied
Expand
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?

Deal Lieutenant Deal Lieutenant
Link Copied
Expand
deb3l wrote:

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

10x bonus on statement generation

Critic Critic
Link Copied
Expand
utking wrote:

bro how to transfer from PayZapp  wallet for free ?

Not possible.

Deal Lieutenant Deal Lieutenant
Link Copied
Expand
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.

Sunrisers Hyderabad Sunrisers Hyderabad
Link Copied
Expand
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.

Deal Lieutenant Deal Lieutenant
Link Copied
Expand
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.

replyuser
Click here to reply
Reply