Best card for NPS Contribution

[Waynoway]

Last update: 10-04-24

• HDFC : Milestone benefits only ✅
• HSBC Cashback: 0% ✅
• AMEX Gold Charge: 1 MR/50 + Milestone benefits ✅
• AMEX SmartEarn/ MRCC: Milestone benefits only ✅
• AU Zenith: Milestone benefits only ✅
• AU Zenith+: 1% + Milestone benefits ✅
• ICICI APay: 1% ✅
• SC Smart: 2% ✅
• SC Ultimate: 2% (Govt. transaction)

Note: Mostly other cards from same bank works with varied reward rate and similar rule of exclusion.

Tip: IDFC, IndusInd, BOB provides better rewards using payzapp like prepaid card load (MCC: wallet) which you can use to pay NPS compared to direct payment where you'll get from 0.25% to 0.8% only on these cards.

For NPS payments MCC: 9399 (Govt. Services)

Do check both payment gateways Razorpay and Billdesk (above values are according to Billdesk gateway).

Also, do share missing cards rewards that you tried, will update accordingly.

PG Charges (with GST) on NPS website/app:

• VISA, Mastercard & AMEX = 0.885% (0.75% + GST)

Note: Above are for TIER 1. TIER 2 disabled credit card payments (based on latest available options).

If in doubt, always try test transaction and confirm with support. Things may chage any time, proceed with caution.

 

[helloworld]

after paying this charge how much you get from Amex? is it a good deal as NPS amount will be blocked till 60 yrs of age. pls reply

to invest in NPS TIER 1 or not?

It is subjective and depends on own personal preference. Yes, you have to lock your investments upto 60yrs. of age and then also you have to opt for Annuity/Pension for some 20%-40% amount even after you cannot withdraw whole amount at a time and have to pay tax for some % even after 60 years.

For now, you can invest based on following:

- If you're 30% bracket income, do invest 50k and save some taxes and put some good use of that 15,000 somewhere rather spending.
- 100% withdrawl allowed if the total accumulated corpus is upto Rs 5 lakh. that is if you follow 1st step then its 10 years but its meant to be retirement.
- Govt. do change and rules do change, so whatever you have this year, it might not applicable next year or after 10 years.

Again, its based on personal and own preferences.

how much you get from AMEX?

This is for MRCC at lowest redemption - highest will be double its value:

• Total Spend: Rs 1.56 Lakhs (12* 4x1500, 6* 14000)
• Total MR Points: 18000 (12* 1000, 6* 1000)
• If we value each MR point at worst 35 paise, then you get return of Rs 6300 ~3% (incl. payment gateway 0.885% charges)

This is what usual spend based offers looks like on NPS spends during promotion by other cards upto 4% (including 0.885% charges):

https://www.technofino.in/community/threads/au-bank-insurance-premium-payment-nps-offer.94/

Gold (depends on renewal benefits but you can apply same lowest redemption here too).

Note: If you have any card that provides ~4% on Govt. payments / Utility, AMEX not required.

 

[helloworld]

Last update: 01-12-23

• HDFC : Milestone benefits ony ✅
• BOB Eterna: 0.375% ✅ (Could someone confirm Snapdeal reward rate)
• HSBC Cashback: 0% ✅
• AMEX Gold Charge: 1 MR / 50 + Milestone benefits ✅
• AMEX SmartEarn/ MRCC: Milestone benefits
• AU Zenith: 1.25% + Milestone benefits ✅
• ICICI APay: 1%

For NPS payments MCC: 9399

Do check both payment gateways Razorpay and Billdesk (above values are according to Billdesk gateway).

Also, do share missing cards rewards that you tried, will update accordingly.

NPS Charges (with GST):

• VISA, Mastercard & AMEX = 0.885%

 

[VKS CARD FAN]

I Want to invest 50k to NPS, which is the best card for it?
Few of my cards-
HDFC DCB
Axis Magnus
Amex MRCC
Amex Gold Charge
Bob Eterna
Sbi Vistara Prime
Sbi cashback
Indusind Legend
If you have anything better, do share.

Again, its for tier 1.
@TechnoFino @Tejas

IDFC select gave 387points for NPS transaction of 8070.
Axis ACE stopped giving 2% cashback for NPS January onwards.

 

[Revitup]

I Want to invest 50k to NPS, which is the best card for it?
Few of my cards-
HDFC DCB
Axis Magnus
Amex MRCC
Amex Gold Charge
Bob Eterna
Sbi Vistara Prime
Sbi cashback
Indusind Legend
If you have anything better, do share.

Again, its for tier 1.
@TechnoFino @Tejas

 

[Revitup]

Sounds good, will use eterna for this.

 

[ltf4ever]

just ensure eterna provides cashback on nps txn.
i read somewhere that some cards don't give reward points on insurance, income tax portals, etc.

 

[Revitup]

just ensure eterna provides cashback on nps txn.
i read somewhere that some cards don't give reward points on insurance, income tax portals, etc.

This is why I created this thread, im unsure about this part, I am assuming @helloworld confirmed this before mentioning Eterna

 

[Iamshashikant]

How many cards do provide cashback Or points for nps contribution? Any can list the cards. Also we need to understand what is reason behind choosing investment in nps.

 

[Wealth is my birth right!]

I Want to invest 50k to NPS, which is the best card for it?
Few of my cards-
HDFC DCB
Axis Magnus
Amex MRCC
Amex Gold Charge
Bob Eterna
Sbi Vistara Prime
Sbi cashback
Indusind Legend
If you have anything better, do share.

Again, its for tier 1.
@TechnoFino @Tejas

Charges: ~1% including tax when paid through Credit Card in NPS Tier 1.

Amex, Indusind - May not cover this ~1% return, so ignore. Amex can be combined with monthly milestones but considering overall point of view.

Magnus - If you can cross 1L in that month (means have to spend another 50K elsewhere) then 6.2% (for Gift vouchers).
DCB - If you can cross 80K in that month (means have to spend another 30K elsewhere) then 3% (for Gift vouchers).

Note: For 80K, magnus can give you only 1.2% return, have to cross 1L.

Cashback - 1%
Best, Eterna - 3.75%

Good work but a correction with Amex.
Gold charge gives normal RP for fuel and utilities too (only insurance it’s not covered).
Try investing in NPS during offer times like I did during August Independence Day offer with scb cards 7.5% additional rewards for 2 days across any online spending.
I am saying this with an assumption that we have time till March 31 for tier 1 addl contribution to get IT exemption

 

[Tejas]

I Want to invest 50k to NPS, which is the best card for it?
Few of my cards-
HDFC DCB
Axis Magnus
Amex MRCC
Amex Gold Charge
Bob Eterna
Sbi Vistara Prime
Sbi cashback
Indusind Legend
If you have anything better, do share.

Again, its for tier 1.
@TechnoFino @Tejas

Axis Magnus assuming two things:

1. You are interested in Travel Redemptions
2. You hit the 1 Lac Milestone for the month as Rs. 50,000 would be taken care by NPS Tier 1 itself.

 

[Pavan]

Can we invest in NPS tier1 using amex ?! and will we get MR points ?

 

[Rishabh]

Charges: ~1% including tax when paid through Credit Card in NPS Tier 1.

Amex, Indusind - May not cover this ~1% return, so ignore. Amex can be combined with monthly milestones but considering overall point of view.

Magnus - If you can cross 1L in that month (means have to spend another 50K elsewhere) then 6.2% (for Gift vouchers).
DCB - If you can cross 80K in that month (means have to spend another 30K elsewhere) then 3% (for Gift vouchers).

Note: For 80K, magnus can give you only 1.2% return, have to cross 1L.

Cashback - 1%
Best, Eterna - 3.75%

On Eterna 3.75% till approx spends of 33500 since 5000 points monthly cap is there. So advice you to break your 50k spends into 2 months for NPS.

 

[Slayer]

On Eterna 3.75% till approx spends of 33500 since 5000 points monthly cap is there. So advice you to break your 50k spends into 2 months for NPS.

42k and not 33.5k

 

[Rishabh]

42k and not 33.5k

Oh yes, it shall be based on 9X not 10x calculation for 5000 points

 

[Pravnz]

Is it considered under "utility" for SBI cashback card? I thought the cashback would be 5%

 

[Slayer]

Is it considered under "utility" for SBI cashback card? I thought the cashback would be 5%

Most likely

 

[Pavan]

Most likely

It's 1% for sure SBI cashback card

 

[Pravnz]

It's 1% for sure SBI cashback card

Insurance as well?

 

[Pavan]

Insurance as well?

Yes and even any SI ..Netflix subscription is giving 1%