It's not 5% cashback but 5%rewards and scapia reward point is worth 20p so 1% cashback. On this cashback you can only redeem against Flights and bus and train on platform where you'll have to pay reward redemption fee so effective cashback is even lower.
I think ICICI Bank does allow that however it may cancel your card. What I do is foreclosure of EMI (icici do charge for that but onecard don't) you will lose out on processing fee and 1 month of interest savings.
Onecard EMI foreclosure is official feature so it's completely legal.
I did withdraw recetly and I was charged ₹147.5 as ATM withdrwal fee and also ₹447.06 as surcharge(I think this depends on which ATM you withdraw) and also very bad conversion rate(I think this also depends on ATM maybe). I did withdraw 100 Euro in Spain.
Saying SGB trades lower is not true. I don't see any SGB which trading significantly lower than gold price now however in past I have seen some.
Also you'll get more intrest than 2.5% if you buy SGB which was issued when gold price was higher than current market price.
You can also find...
You can raise issue since as of now Tata neu app shows on product page that you'll get NEU coins. I know it's going to plugged sooner rather than later but what's harm in asking.
I'll rewrite the article but if government doesn't put GST on NCEMI it'll create an GST loophole. It's not GST on EMI is problem it's that it's actually reducing GST liability for merchant.
If they don't put GST here merchant can put full on discount on his purchase price and can skip paying GST altogether.
Like assuming he is getting product ₹100. His selling price is ₹150 so his effective GST paid by merchant is ₹50*GST%
Now merchant can arrange this thing about give it no...
Mechnats or brands same thing. If brand is one bearing the cost they'll take commsions. You see banks're getting free loans(I mean 90% od NCEMI loan won't exist if they're no cost.) In fact you yourself won't take loan if it weren't NCEMI.
Also try to understand commsion model of Bajaj Finance...
If you belive that merhcnats are just giving away so much money to banks for free than I have nothing to say. If banks do not give commison that means since interrest amount is kept by bank but interest discount given by seller so effectivly mechant are giving away free money to bank.
So here I'm not saying that you should not buy things on no cost EMI it's always complicated to do. You can forclose EMI. You can cancel EMI. You may consider return on investment. You can consider inflation.
But i was trying to point out a trick which in my immediate circle no one knew...
I know law but you don't know why this is law and why government has to lavy GST on credit card loan. If government doesn't lavy GST this trick can make anything GST free.
There is nothing illegally going on here but if you think if you buy thing in full payment or in cost EMI. Merchant does...
You tell me did GST paid by seller changed inbetween No cost EMI or normal EMI? Answer is yes
Now you tell me you paid something extra in GST or not?
So effectively you have to pay extra GST because no cost EMI is thing where merchant is selling product lesser price(as per invoice product...
You didn't understand what i was trying say
1. Yes GST paid back by you on interest component does not returned back to seller but what I'm trying to say is actually getting this money another way. (I've written article but will make it better)
2. You don't have to pay GST on interest on home...
Recently @TechnoFino posted article about Cost behind No Cost EMI. I'm adding this as extension where I'll try to explain why banks levy GST on No Cost EMI but not in other EMIs and actully who is getting that money(Technically government but read below to know more)
Suppose the price of the...