HDFC Credit Cards Using HDFC Neu Rupay card for NPS Tier 2 payments

[varkey]

Was looking for ways to make payments to NPS Tier 2 account which gives the max returns. As we know direct credit card payments were disabled last year, so I thought will give UPI a try with my HDFC Rupay credit card.

I first tried to pay to the NPS UPI ID (using the virtual account ie PFrda.600102xxxxx5678@axisbank), but the credit card did not show up as an option on PhonePe, and on BHIM, it failed immediately after entering the UPI PIN. So I tried the option from NSDL, and went through the flow, chose the RazorPay gateway and selected UPI. I entered the PhonePe UPI ID that is tagged to the HDFC Rupay card, and initiated the payment. Surprisingly the payment went through.

Now the question that remains is, would HDFC give the 1.5% Neu coins (Neu Infinity) for this transaction? Anybody else has tried this? Even with no rewards, I can still get 1% CB when paying off the due with HDFC Platinum DC. So still win-win. Btw no payment gateway charges from NPS side when using UPI.

 

[rockking1994]

Is it worth the risk of paying vai upi cc even though the tnc of payment declarations clearly mentions

I mean its your lifetime worth of savings

 

[varkey]

Just got the HDFC statement today and looks like they stopped giving reward points for NPS UPI transactions. 😢

cc @Deathsnatcher

 

[Faust]

Am I missing something here?

The NPS investments provide low return while locking your money till retirement leaving a few occasions.
The only reason to invest in NPS is to get tax benefit.
Tier 2 investments have no lock-in but no tax benefit either.

Why not invest in higher yielding schemes?

 

[beingmohit]

Am I missing something here?

The NPS investments provide low return while locking your money till retirement leaving a few occasions.
The only reason to invest in NPS is to get tax benefit.
Tier 2 investments have no lock-in but no tax benefit either.

Why not invest in higher yielding schemes?

I don't think investments in Tier2 are locked till retirement

 

[Faust]

I don't think investments in Tier2 are locked till retirement

This is what I said in my post.
No lock-in but poor returns.

 

[varkey]

This is what I said in my post.
No lock-in but poor returns.

NPS Tier 2 can be considered as a majorly large cap, hybrid mutual fund with the lowest expense ratio as compared to even direct mutual funds.

I wouldn’t say it’s low returns.

 

[NOORKMOHAMED]

It's not working now

 

[REGIUS24]

Yes infinity will give 1.5% on this.
got it myself also

Hi dear technofino i tried last month but i didn't get any rewards

 

[varkey]

So no more rewards, but you can still make NPS payments using your Rupay credit card through the Billdesk payment gateway. RazorPay gateway is patched and it no longer accepts card payments.

And on making payment with HDFC Debit card, can get 1% back. Also would help achieve higher spending threshold for annual fee waiver.

 

[armat]

Enterprise debit card Rbl bank !

Can we choose Amazon pay Giftcard while claiming joining and monthly voucher in rbl EDC card ?

 

[4uziaul]

Can we choose Amazon pay Giftcard while claiming joining and monthly voucher in rbl EDC card ?

Yes, you can.

 

[armat]

Yes, you can.

I plan to take this card soon for utility payments only. Could you explain how this cashback process works ?

 

[rogerthat]

So no more rewards, but you can still make NPS payments using your Rupay credit card through the Billdesk payment gateway. RazorPay gateway is patched and it no longer accepts card payments.

And on making payment with HDFC Debit card, can get 1% back. Also would help achieve higher spending threshold for annual fee waiver.

I thought you can't make HDFC CC payments using HDFC Debit Cards?

 

[avikrish]

So no more rewards, but you can still make NPS payments using your Rupay credit card through the Billdesk payment gateway. RazorPay gateway is patched and it no longer accepts card payments.

And on making payment with HDFC Debit card, can get 1% back. Also would help achieve higher spending threshold for annual fee waiver.

Will we get 1% cashback on nps tier 1 premium using hdfc debit card on bill desk nps website?

 

[varkey]

Will we get 1% cashback on nps tier 1 premium using hdfc debit card on bill desk nps website?

No. Sorry, what I meant at the time was that you could make the payment with UPI-CC, and then pay off the CC using HDFC Debit card. However both options are now closed, so its no longer relevant.

For NPS, I've found PayZapp + BoB Eterna to give good returns - https://www.technofino.in/community/threads/best-card-for-nps-contribution.2996/page-22#post-514339