Insurance & NPS offer - AU Bank

[the_dark_knight]

If one invests 50k in NPS now via AU lit cc, what is the maximum reward rate (in terms of final cashback on 50k) one can get?
If someone calculated, please share

Or put it this way:
Max promotional bonus points one can get on 50k -5k bonus points
Now what are the base reward points earned on the same txn and accelerated rewards options if any.
Total combined what is the reward rate in %
@helloworld a programming question for you

 

[shutapdiya]

If one invests 50k in NPS now via AU lit cc, what is the maximum reward rate (in terms of final cashback on 50k) one can get?
If someone calculated, please share

make 5 txn of 10k, you get

1000 * 5 = 5000 RPs (~ 1000 Rs) for above offer

Activate 2% CB rider for 299 199

get 1000 Cashback (700 800 if rider cost is deducted)

Activate 10X RP rider for 299

get 5000 RPs (~ 1000 Rs) (700 if rider cost is deducted)

Assuming you paid 118 Rs for 10000 RPs redemption

for 50k spent, your gain will ~2282 2382 Rs (~4.56% 4.76%)

Edit:

Considering 88.5 * 5 Rs for NPS CC Charges
Net gain will become 1840 1939 Rs (~3.68% 3.87%)

 

[the_dark_knight]

make 5 txn of 10k, you get

1000 * 5 = 5000 RPs (~ 1000 Rs) for above offer

Activate 2% CB rider for 299

get 1000 Cashback (700 if rider cost is deducted)

Activate 10X RP rider for 299

get 5000 RPs (~ 1000 Rs) (700 if rider cost is deducted)

Assuming you paid 118 Rs for 10000 RPs redemption

for 50k spent, your gain will ~2282 Rs (~4.56%)

Edit:

Considering 88.5 * 5 Rs for NPS CC Charges
Net gain will become 1840 Rs (~3.68%)

That's a nice illustration, thanks.

Au banks charges 0.885% fee for NPS txn?
And are NPS txns eligible for 2%cb and 10" online spends/milestones riders?

 

[shutapdiya]

Au banks charges 0.885% fee for NPS txn?

Those are charges by NSDL for all CC payments

And are NPS txns eligible for 2%cb and 10" online spends/milestones riders?

Other than below, everything is included

Cash withdrawal, rent, EMI and fuel transactions (with MCC 5172, 5541, 5542, 5552, 5983 and 6513)

 

[the_dark_knight]

👍
3.68% is good reward rate here for 50k worth of govt spends on cc.
So, there is net 15% (income tax saving) + 3.68% (cc cashback) on 50k NPS investment for those not yet started nps account

 

[Baki]

you did one shot payment of 50k hence you got 2k RRs as per the slab

If you would have done 10k *5 then you would have got 1000* 5 RPs

is my understanding on T&C correct?

@helloworld

Yes, I could, But it seemed a hassle, So I went with one shot.

There is a caping only on the total that I see.

Got overall return around 5%.
Happy with it.

 

[vaibhavpp0707]

I have AU lit and my wife has AU excite ace.
AU excite ace gives 3% cashback and is worth to spend till 25,000 per month as max cashback per month is 750₹.

So will it be good to do 25k with excite ace and 25k with AU lit. As ace will give Amazon voucher and cashback both.

Or need to go with full 50k AU Lit transaction to get 3.68% value back ?

Please guide me

make 5 txn of 10k, you get

1000 * 5 = 5000 RPs (~ 1000 Rs) for above offer

Activate 2% CB rider for 299

get 1000 Cashback (700 if rider cost is deducted)

Activate 10X RP rider for 299

get 5000 RPs (~ 1000 Rs) (700 if rider cost is deducted)

Assuming you paid 118 Rs for 10000 RPs redemption

for 50k spent, your gain will ~2282 Rs (~4.56%)

Edit:

Considering 88.5 * 5 Rs for NPS CC Charges
Net gain will become 1840 Rs (~3.68%)

 

[helloworld]

I have AU lit and my wife has AU excite ace.
AU excite ace gives 3% cashback and is worth to spend till 25,000 per month as max cashback per month is 750₹.

So will it be good to do 25k with excite ace and 25k with AU lit. As ace will give Amazon voucher and cashback both.

Or need to go with full 50k AU Lit transaction to get 3.68% value back ?

Please guide me

Combo seems good to me.

 

[Daunt]

1. What would be the best way to redeem AU RPs? APay GC or something else?
2. I assume 118 RP redemption fees will be applicable for GC redemption as well?

 

[Daunt]

make 5 txn of 10k, you get

1000 * 5 = 5000 RPs (~ 1000 Rs) for above offer

Activate 2% CB rider for 299

get 1000 Cashback (700 if rider cost is deducted)

Activate 10X RP rider for 299

get 5000 RPs (~ 1000 Rs) (700 if rider cost is deducted)

Assuming you paid 118 Rs for 10000 RPs redemption

for 50k spent, your gain will ~2282 Rs (~4.56%)

Edit:

Considering 88.5 * 5 Rs for NPS CC Charges
Net gain will become 1840 Rs (~3.68%)

Correction: 2% CB milestone rider cost 199

 

[shutapdiya]

Correction: 2% CB milestone rider cost 199

Thanks for highlighting bro, can you recalculate the percentage
Will update the post accordingly 😅

 

[helloworld]

1. What would be the best way to redeem AU RPs? APay GC or something else?
2. I assume 118 RP redemption fees will be applicable for GC redemption as well?

If urgent, book flights, hotels or even buses. Transfer to Vistara or book movie tickets in BMS - all these 0.25p.

If not, accumulate for 2Y and redeem against vouchers - 0.20p.

Both may attract 118RP redemption fee, note higher the redemption value then better with fee because its same for 100 Points or 1L Points.

 

[Daunt]

Just made 40K contribution in 10K x4
Activated 2% & 10x rider for 199+299 = 498₹

For each 10K txn - 112.32₹ charges were added by NPS (including all NPS, CC, convenience charges)
Hence paid total 40,449.28 (10,112.32 x4)

Calculating slab offer of 10k x4 = 4000RP (800₹)
Calculating 2% of 40,449 = 808₹
Calculating 10x of 40,449 = 4044RP (808₹)

Total value - 2418₹

Now deducting 498 (rider charges) - 450 (NPS charges) - 118 (Redemption fees) = 1351₹

Around 3.3% for me.

Rider benefits last 90 days from date of activation. So it will depend on the amount you will spend.

 

[shutapdiya]

Just made 40K contribution in 10K x4
Activated 2% & 10x rider for 199+299 = 498₹

For each 10K txn - 112.32₹ charges were added by NPS (including all NPS, CC, convenience charges)
Hence paid total 40,449.28 (10,112.32 x4)

Calculating slab offer of 10k x4 = 4000RP (800₹)
Calculating 2% of 40,449 = 808₹
Calculating 10x of 40,449 = 4044RP (808₹)

Total value - 2418₹

Now deducting 498 (rider charges) - 450 (NPS charges) - 118 (Redemption fees) = 1351₹

Around 3.3% for me.

Rider benefits last 90 days from date of activation. So it will depend on the amount you will spend.

which gateway did you use?
I used billdesk and charges were 88.5 per 10k

 

[brightknight]

Do RPs on zenith expires? & When one does receive regular RPs?

 

[Daunt]

which gateway did you use?
I used billdesk and charges were 88.5 per 10k

I used both billdesk & Razorpay.
Same charges. 88.7 for CC payment but 23.6 for POP commission by CRA. Eventually I paid total 112.31 as charges for contribution of 10k.

 

[shutapdiya]

I used both billdesk & Razorpay.
Same charges. 88.7 for CC payment but 23.6 for POP commission by CRA. Eventually I paid total 112.31 as charges for contribution of 10k.

I have registered directly, dont have POP

 

[Daunt]

I have registered directly, dont have POP

Lucky. For us there was only one option provided which was through POP.

 

[helloworld]

Do RPs on zenith expires? & When one does receive regular RPs?

2Y

As soon as transaction settled

but can only redeemed after statement generated.

 

[Yugi]

Lucky. For us there was only one option provided which was through POP.

If your NPS account in not having credits from your company, you can fill the subscriber shift form and remove POPs from the picture. Why pay commission to them.