HDFC Bank Millennia Debit Card & It's Benefits ❤️🔥

[D₹V]

Charges: 500 + GST.



Benefits:
• 5% cashback on PayZapp or Smartbuy
• 2.5% cashback on shopping i.e. on Flipkart, Amazon etc
• 1% on other transactions i.e. wallet loads, credit card payments etc
• Total rewards is capped at 400 RP/month
• Bonus - 5% cashback upto 1000 on Gift Vouchers purchase via Smartbuy per month. P.s. Smartbuy has introduced 2.5% & 3.25% + GST on ASV & AGV respectively.
• Cashback will be credited in 4 month after the transaction (i.e. 90 days), you can redeem via HDFC netbanking.
• You can get rewards worth ₹16,800 annually.



How to milk the benefits?
• If you use it on smartbuy only then 5% upto 400 (card benefits) + 5% upto 1000 (smartbuy bonus), total 1400 RP/month you'll be getting. Since Smartbuy charging convenience fees on AGV & ASV, better to buy Flipkart GV without convenience fee on smartbuy.
• For example, if you buy Flipkart GV worth 8k via Smartbuy with Millennia DC, you'll get 400 + 400 = 800 cashback, meaning 10% cashback on Flipkart GV.
• In another example, if you buy worth 20k, you'll get 1400 cashback, meaning 7% cashback on Flipkart GV. So buy accordingly as per your needs.
• If you use Millennia DC for 40k CC Payments worth 40k via Mobikwik, Paytm etc only, then 1% upto 400 cap will be over & you'll get 5% cashback upto 1000 if you purchase any GV via Smartbuy now.

Hope you've understood the benefits & enjoy the rewards ❤️. Ask if any query.

 

[doraemon]

Hey folks,
Have you received the Millennia DC cash back reward this month?

Jan month cashback credited

 

[Humanbeing]

Jan month cashback credited

I haven’t received so far.

 

[Anil_Singh]

Hey folks,
Have you received the Millennia DC cash back reward this month?

No. The guy responsible for crediting points is away for election campaigning. He will click the button once he comes back to HDFC.

 

[Anil_Singh]

Jan month cashback credited

You got ?

 

[NShah]

Jan month cashback credited

Sabko nahi Mila abhi tak 🥹😅

 

[doraemon]

I haven’t received so far.

Wait till month end

 

[doraemon]

You got ?

I came into existence in feb month this year for HDFC
So I am ineligible for previous months

 

[varun__goel_]

You got ?

27-28 tak sabki pension aajaygi mitron🌚

 

[shivamk]

See this calculation

Savings Max is great (I have considered millennia here)


According to me ,


Option 1:
- You keep 25k in a savings max account earning 3% interest per annum.
- This yields an annual return of 750 Rs.
- Additionally, there's a savings of 590 Rs dc charges ( millennia)
- So, the total return for Option 1 is 750 + 590 = 1340 Rs per year.

Option 2:
- You keep 5k in a savings account earning 3% interest per annum.(Regular rural)
- This yields an annual return of 150 Rs.
- You invest 20k in a fixed deposit (FD) earning 8.5% interest for 12 months.(E.g Jana bank)
- The FD generates an interest of 20,000 * 8.5% = 1700 Rs for the year.(I did simple intrest )
- You incur a debit card fee of 590 Rs.
- So, the total return for Option 2 is 150 + 1700 - 590 = 1260 Rs for the year.

Comparing the two options:
- Option 1 offers a total return of 1340 Rs per year.
- Option 2 offers a total return of 1260 Rs for the year.
- Therefore, Option 1 is best

Calculation has a small flaw. In option 1, we are treating 590 as being credited back over and above DC fee waiver.

Let's simplify it like this.
Option 1:
Returns = Total interest - DC fee
= 750 - 0 = Rs. 750

Option 2:
Returns = Total Interest - DC fee
= Rs. (150 + 1700) - 590
= Rs. 1260

So eventually we are losing up Rs. 510 due to MAB condition.

 

[Anil_Singh]

Calculation has a small flaw. In option 1, we are treating 590 as being credited back over and above DC fee waiver.

Let's simplify it like this.
Option 1:
Returns = Total interest - DC fee
= 750 - 0 = Rs. 750

Option 2:
Returns = Total Interest - DC fee
= Rs. (150 + 1700) - 590
= Rs. 1260

So eventually we are losing up Rs. 510 due to MAB condition.

Exactly. That is the reason I choose regular savings account (rural).

 

[Shroud]

I came into existence in feb month this year for HDFC
So I am ineligible for previous months

Same here. Let's see who gets Feb points first 😁

 

[pothi]

Calculation has a small flaw. In option 1, we are treating 590 as being credited back over and above DC fee waiver.

Let's simplify it like this.
Option 1:
Returns = Total interest - DC fee
= 750 - 0 = Rs. 750

Option 2:
Returns = Total Interest - DC fee
= Rs. (150 + 1700) - 590
= Rs. 1260

So eventually we are losing up Rs. 510 due to MAB condition.

Thanks for supporting my math. This is what I said too in different words...

HDFC Savings Max - Worth It ?

Have received "Savings Max Upgrade" Email. I am aware of basic features. Anyone please help me one following queries -> 1. I have applied for Millennia. Is it chargeable or will be free for Savings Max holder. Branch seems confused. 2. Is it easy to downgrade to Regular Savings account ? 3...

www.technofino.in

 

[its_karan]

Calculation has a small flaw. In option 1, we are treating 590 as being credited back over and above DC fee waiver.

Let's simplify it like this.
Option 1:
Returns = Total interest - DC fee
= 750 - 0 = Rs. 750

Option 2:
Returns = Total Interest - DC fee
= Rs. (150 + 1700) - 590
= Rs. 1260

So eventually we are losing up Rs. 510 due to MAB condition.

Thanks for supporting my math. This is what I said too in different words...

HDFC Savings Max - Worth It ?

Have received "Savings Max Upgrade" Email. I am aware of basic features. Anyone please help me one following queries -> 1. I have applied for Millennia. Is it chargeable or will be free for Savings Max holder. Branch seems confused. 2. Is it easy to downgrade to Regular Savings account ? 3...

www.technofino.in

 

[doraemon]

Calculation has a small flaw. In option 1, we are treating 590 as being credited back over and above DC fee waiver.

Let's simplify it like this.
Option 1:
Returns = Total interest - DC fee
= 750 - 0 = Rs. 750

Option 2:
Returns = Total Interest - DC fee
= Rs. (150 + 1700) - 590
= Rs. 1260

So eventually we are losing up Rs. 510 due to MAB condition.

I have different approach
See by maintenance of 25k in option 1
I am technically saving 590 dc feees which I would have paid otherwise
So thats a saving


@its_karan expert opinion dedo abhi

 

[doraemon]

I have different approach
See by maintenance of 25k in option 1
I am technically saving 590 dc feees which I would have paid otherwise
So thats a saving


@its_karan expert opinion dedo abhi

Did I calculated wrong?
Batao warna neend nahi aayegi mujhe

 

[pothi]

I have different approach
See by maintenance of 25k in option 1
I am technically saving 590 dc feees which I would have paid otherwise
So thats a saving

I actually like your persistency. I put the blame on myself for my inability to convey or explain my understanding to others.

 

[doraemon]

Calculation has a small flaw. In option 1, we are treating 590 as being credited back over and above DC fee waiver.

Let's simplify it like this.
Option 1:
Returns = Total interest - DC fee
= 750 - 0 = Rs. 750

Option 2:
Returns = Total Interest - DC fee
= Rs. (150 + 1700) - 590
= Rs. 1260

So eventually we are losing up Rs. 510 due to MAB condition.

Yeah now I got it

Sorry guys there is small mistake as point out by some mathematicians


So in option one 590 will not be included as it's already waived off

So option 2 is great!

@pothi thanks for pointing out man

 

[Anil_Singh]

@doraemon be like

 

[doraemon]

@doraemon be like

View attachment 50786

Mere dimag mai aapka megastar tier ka chehra aagya tha shayad se isi wajah se hua hai😂😂😂😂😂😂

 

[VISHESH_BANSAL]

Mere dimag mai aapka megastar tier ka chehra aagya tha shayad se isi wajah se hua hai😂😂😂😂😂😂

I do not think you are Wrong by Including 590.

Visit Bank website, Banks shows these Waived off charges as Savings

By Opening this Account your Saving Rs.XXX, it includes value of all Privileges Given with that Account

Value chart utha ke dekhlo kisi bhi Credit Card/Bank Account, yeh Waived off charges ko Savings hi btayege.

You must have heard a word "Perquisite", yeh 590 wahi hai for 25k Maintaince Account, toh add hone chayie😂