Best card for NPS Contribution

[Waynoway]

Last update: 11-01-2025

• HDFC : Milestone benefits only ✅
• HSBC Cashback: 0% ✅
• AMEX Gold Charge: 1 MR/50 + Milestone benefits ✅
• AMEX SmartEarn/ MRCC/Platinum Travel: Milestone benefits only ✅
• AU Zenith: Milestone benefits only ✅
• AU Zenith+: 1% + Milestone benefits ✅
• SC Smart: 2% ✅
• SC Ultimate: 2% (Govt. transaction) ✅
• ICICI AmazonPay: 1%
• Yes Marquee: 1.25% (Special MCC) ✅

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

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.

 

[nh124001]

Would you recommend any other card

Amex isnt accepting new applications

hdfc raglia gold, hdfc dcbm, sbi krysflyer, hdfc mb

try if your nps contribution can add upto milestone, but all these cards are high spend categories

 

[helloworld]

Would you recommend any other card

Amex isnt accepting new applications

#1 post ..

 

[nsa]

Has anyone used the Kotak super 811 debit card for NPS investments, either tier 1 or 2? Did you get any cashback?

 

[nsa]

My previous organization used to allow employees to opt for Employers contribution to NPS (salary structire wqs teqeked to reduce salary a little to conteivute to NPS). As this contributionis not reported on your Form 16, it's totally tax free.

The biggest problem with NPS is you can't withdraw the whole amount, but in this case, my thought was the amount that I will have to buy Annuity for was mostly coming from Tax so made a good deal for me.

Just for clarity, we had both NPS and PF and we could contribute to both.

Was the amount contributed by the employer exactly equal to the reduction in the salary?
In other words, the employer did not contribute any amount over and above what they deducted from your salary, right?

 

[nsa]

My employer allows the same and I have opted for it (EPF and voluntary NPS). The amount (10% of Basic salary) is instead credited to my NPS account.

Is the amount contributed by the employer exactly equal to the reduction in the salary?
In other words, the employer does not contribute any amount over and above what they deduct from your salary, right?

 

[seasonedroaster]

Has anyone used the Kotak super 811 debit card for NPS investments, either tier 1 or 2? Did you get any cashback?

Same question i also have

 

[webmunmun]

Is the amount contributed by the employer exactly equal to the reduction in the salary?
In other words, the employer does not contribute any amount over and above what they deduct from your salary, right?

As per new income tax, you can ask your employer to deduct upto 14% of your basic for NPS contribution. So if your basic is 1lakh and if you ask for example 14% to deduct. Exactly 14k will be deducted and deposited to your NPS account.

Generally some external fund manager does all this process and they deduct some small amount (within 50 rs per month). The rest of the amount will be deposited to your NPS account. The employer will not add any additional amount. But your entire NPS contribution will become tax exempt and will be reflect in for Form 16.

 

[knightknight]

Hi, can someone please confirm if you get 3.3% on NPS payment on DCBM? or is DCBM not even allowed on the portal?

The T&C here don't mention anything about any exclusion. This is what is mentioned:

Reward Points shall not be eligible for select Merchant category following spends on the card,
o Fuel Spends
o Cash Advances
o Payment of Outstanding Balances
o Payment of card fees and other charges
o Smart EMI / Dial an EMI transaction.

Thanks!

 

[helloworld]

Hi, can someone please confirm if you get 3.3% on NPS payment on DCBM? or is DCBM not even allowed on the portal?

The T&C here don't mention anything about any exclusion. This is what is mentioned:



Thanks!

nps = govt transaction..

#1 applied all hdfc cards

 

[knightknight]

nps = govt transaction..

#1 applied all hdfc cards

Thanks. But is it mentioned somewhere? I am seeing people posting about it, but no source from HDFC haha. Checked both T&Cs from 2024, 2025. No mention of such exclusion!

 

[helloworld]

Thanks. But is it mentioned somewhere? I am seeing people posting about it, but no source from HDFC haha. Checked both T&Cs from 2024, 2025. No mention of such exclusion!

every hdfc card..

visit product page like this

Black Card: Apply for Diners Club Black Credit Card | HDFC Bank

Black Card: HDFC Bank Diners Club Black Credit Card is an international card that offers elite lifestyle privileges like unlimited golf lessons & Airport lounge access.

www.hdfcbank.com

(this is dcb/dcbm)

goto

For detailed T&C's on the revised rewards points program & fee structure, Kindly click here

click that link and it opens pdf there are many exclusions..

 

[knightknight]

every hdfc card..

visit product page like this

Black Card: Apply for Diners Club Black Credit Card | HDFC Bank

Black Card: HDFC Bank Diners Club Black Credit Card is an international card that offers elite lifestyle privileges like unlimited golf lessons & Airport lounge access.

www.hdfcbank.com

(this is dcb/dcbm)

goto

For detailed T&C's on the revised rewards points program & fee structure, Kindly click here

click that link and it opens pdf there are many exclusions..

Thanks! Found it here (page number 22)

 

[350modena]

Is the amount contributed by the employer exactly equal to the reduction in the salary?
In other words, the employer does not contribute any amount over and above what they deduct from your salary, right?

Yes . .

 

[vishalgupta2]

Is the amount contributed by the employer exactly equal to the reduction in the salary?
In other words, the employer does not contribute any amount over and above what they deduct from your salary, right?

Yes, employer did not contribute anything. This was primarily to save tax.

This is how it worked.
Let's say a person has CTC of 12 LPA, if the person wants only EPF, his salary structure will look like:
Basic: 45000
Other: 59,600

Please note that Employers contribution to EPF is already deducted and while payment of salary s/he gets
45,000 + 59,600 - 5,400 - tax

For folks choosing NPS also, the structure would be:
Basic: 45000
Other: 55,100

My calculation of opting into NPS was I will save 34.2% tax on the money going there and NPS withdrawal is capped at 60 % but is tax free. If i invest the 65% after tax in MFs, I will pay long, so essentially in long term, by investing in NPS, I am getting what I would have normally through MFs and the annuity is coming from tax money

 

[_deb_]

Yes, employer did not contribute anything. This was primarily to save tax.

This is how it worked.
Let's say a person has CTC of 12 LPA, if the person wants only EPF, his salary structure will look like:
Basic: 45000
Other: 59,600

Please note that Employers contribution to EPF is already deducted and while payment of salary s/he gets
45,000 + 59,600 - 5,400 - tax

For folks choosing NPS also, the structure would be:
Basic: 45000
Other: 55,100

My calculation of opting into NPS was I will save 34.2% tax on the money going there and NPS withdrawal is capped at 60 % but is tax free. If i invest the 65% after tax in MFs, I will pay long, so essentially in long term, by investing in NPS, I am getting what I would have normally through MFs and the annuity is coming from tax money

Well said “annuity is coming from tax money” 😁

 

[its_karan]

Amazon ICICI is getting 1%

Date:: 15.01.2024

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Amazon ICICI is still getting 1%

Date: 03.06.2025