HDFC offering Infinia against investment - is it worth it?

[SSV]

Another benefit of not taking ULIP is you wont feel offended by someone's POV 😝

Is this reply to me ??
If so please quote my post..


Who said I am offended when someone is giving Gnana to me…
I am enlightened and agreeing with the facts…

Let’s come back to my statements

Yes Infinia is a waste card, it’s only useful for GVs..
Anyway why do anyone want to buy GVs

So my statement is correct — right?? Who wants to take infinia just for GVss




Magnus for Burgundy is enough for everything.

You can get all the benefits and much more than anything on this card…
So my statement is right…



Infinia is not useful even given as LTF..
Why one need Infinia LTF when you can get SBI CB card LTF…

for normal online spends you get 5%CB on CB card compared to 3.6% on Infinia and CB card you can get these days for LTF

So this statement is also correct…

So I made all correct statements..
Where is the feeling of me getting offended…
Infinia is a waste card as the above statements are correct… right …😉 🤣

 

[SSV]

Another benefit of not taking ULIP is you wont feel offended by someone's POV 😝

On the contrary,
The benefits I get after taking my ULIP are listed in the below post…
forget about getting offended..…😛😀😀

I am very happy that I had invested in ULIP for the 20 years to come as part of my diversified portfolio which includes Insurance element…with unlimited free switches between funds and totally tax free amount after 20 years .. all the way laughing to the Bank!!!

No offences and no regrets…
Follow me and track my performance..!!


Post in thread 'Axis Bank Liberty Savings Account Benefits'
https://www.technofino.in/community...rty-savings-account-benefits.1504/post-558068

 

[helloworld]

I mean infinia is only good for buying vouchers from gyftr. Assuming you get around 6% extra on Infinia, you have to buy vouchers around 6 lakh to save 30k on it.

could you give alternative card that is better than Infinia.? Assuming get aroung 6% above extra on that card. Actually if we purchase 3L smartbuy vouchers in a year, we get 50k. So, checking if I miss anything?

 

[HumorSimpson]

On the contrary,
The benefits I get after taking my ULIP are listed in the below post…
forget about getting offended..…😛😀😀

I am very happy that I had invested in ULIP for the 20 years to come as part of my diversified portfolio which includes Insurance element…with unlimited free switches between funds and totally tax free amount after 20 years .. all the way laughing to the Bank!!!

No offences and no regrets…
Follow me and track my performance..!!


Post in thread 'Axis Bank Liberty Savings Account Benefits'
https://www.technofino.in/community...rty-savings-account-benefits.1504/post-558068

Is the entire amount tax free?

 

[SSV]

Is the entire amount tax free?

yes, of course... all the gains are 100% tax free.. whenever you withdraw..

 

[HumorSimpson]

yes, of course... all the gains are 100% tax free.. whenever you withdraw..

That is for policies before 2021 right?

 

[SSV]

That is for policies before 2021 right?

Even after 2021, for premiums less than 2.5L pa , it’s tax free..
My premium is less than 2L

Complete rules here, after 2021 amendment..

Tax on ULIP: Taxation Rules of Unit-Linked Insurance Plan

Tax on ULIP: ULIPs remain one of the preferred investment options, and the Finance Act, 2021 introduced certain amendments related to taxation under Section 10 (10D).

cleartax.in

 

[kshitij_0]

ULIPs are actually very bad. The more details I get to know about that, I am getting more and more confident.
Tax Free and all are stunts. I have understood bits and pieces of these investment plans.

No offence to anyone.
Even 3 year ULIP plans of 1.5L aren't worth it even for Infinia LTF.

Jitna padho iske baare me lagta hai kya hi tareeka nikale hain padhe likhe log C banane ka😅

 

[SSV]

ULIPs are actually very bad. The more details I get to know about that, I am getting more and more confident.
Tax Free and all are stunts. I have understood bits and pieces of these investment plans.

No offence to anyone.
Even 3 year ULIP plans of 1.5L aren't worth it even for Infinia LTF.

Jitna padho iske baare me lagta hai kya hi tareeka nikale hain padhe likhe log C banane ka😅

You are right in your view.. nothing wrong in it

 

[shashankrt]

Infinia isn't meant for people who are worried about 20k pr 30k per year. If such a small notional loss or gain is a lot for you, then definitely stay away from any investment route. It's hilarious how people are getting so worried about a tiny investment per year to see how much difference there would be in returns.

Well your thought process is hilarious and bank RMs and BMs prey using this broken thought process. Why would any sane person pay 30K for a card which costs net 3k through normal process.
Also perhaps ppl like us get qualified for such premium cards via normal process because we think 1.5 lakhs is a tiny investment and are worried. 😉

 

[shashankrt]

I mean infinia is only good for buying vouchers from gyftr. Assuming you get around 6% extra on Infinia, you have to buy vouchers around 6 lakh to save 30k on it.

If you think infinia is only good for buying vouchers then you cannot be any more incorrect. Yes spending 30K to get this card is not wise however Infinia has many more benefits than only gyftr vouchers. (refer infinia review)

 

[Lobogris]

1.5 lakhs ULIP to get a paid card ???
I would say even if there are offering it LTF , it's a big no.
Even for 3 years that's like 4.5 lakhs

Infinia is not that rewarding credit card , you would never recover the cost of acquisition

Sir the 4.5 lakhs is not the amount paid as a fee. It is an investment which will likely increase depending on overall market performance. It's similar to putting the amount in a mutual fund.

 

[Lobogris]

Well your thought process is hilarious and bank RMs and BMs prey using this broken thought process. Why would any sane person pay 30K for a card which costs net 3k through normal process.
Also perhaps ppl like us get qualified for such premium cards via normal process because we think 1.5 lakhs is a tiny investment and are worried. 😉

Because the sane person doesn't want to wait 5 to 10 years, spend a lot on Moneyback and hope for an upgrade to Millenia, then spend a lot again and hope to get Regalia and then againd DCB to Infinia. No one is paying 30k. That was the claimed lesser return on the investment. However, with various fees credited back and the gains being tax free, one can equal or beat most mutual funds. So there might be no loss at all. In any case, this debate will mever end. If I make a FD, someone would claim a loss compared to X mutual fund. If I invest in X mutual fund, then, Y or Z might do better. So you can't keep worrying about this.

 

[anirban.choudhuryanirban.choudhury is verified member.]

Sir the 4.5 lakhs is not the amount paid as a fee. It is an investment which will likely increase depending on overall market performance. It's similar to putting the amount in a mutual fund.

But the question is
Are you doing that investment for Infinia ?
Would you still do that investment with HDFC if they didn't offer Infinia as an upgrade ?

If the answer to the first question is Yes , then I won't count that as an investment.

 

[SSV]

But the question is
Are you doing that investment for Infinia ?
Would you still do that investment with HDFC if they didn't offer Infinia as an upgrade ?

If the answer to the first question is Yes , then I won't count that as an investment.

Going by the same rule as per your criteria of investment/ not an investment…
Will making 30L FD to get M4B is called an investment or not?
If M4B is not offered would people still make FD??
If so , are those FDs called an investment or not??

Personal finances are highly dependent on individual circumstances, risk appetite, amount of time they want to spend on finances, amount of time they want to wait for return…. Etc etc etc…
So, there is nothing right/ wrong…
Otherwise there will be only one investment product, one CC, one loan product in the market

 

[kshitij_0]

Going by the same rule as per your criteria of investment/ not an investment…
Will making 30L FD to get M4B is called an investment or not?
If M4B is not offered would people still make FD??
If so , are those FDs called an investment or not??

Personal finances are highly dependent on individual circumstances, risk appetite, amount of time they want to spend on finances, amount of time they want to wait for return…. Etc etc etc…
So, there is nothing right/ wrong…
Otherwise there will be only one investment product, one CC, one loan product in the market

Generally FDs are better than ULIPs as an investment. Although there are good ULIPs which are way better than FDs but they won't offer you Infinia on the basis of those ULIPs.
There is a reason why these guys are so keen in selling these ULIPs and there is a reason why impossible Infinia suddenly becomes possible and all the higher officials suddenly become interested in providing Infinia.
Because they earn a lot from those ULIPs. Where does this much money come from to satisfy so many people at such an extent? Answer is -from US!!!

 

[SSV]

Generally FDs are better than ULIPs as an investment. Although there are good ULIPs which are way better than FDs but they won't offer you Infinia on the basis of those ULIPs.

Here in the above context, the question is not whether FD/ ULIPs is better ?? question is what is considered as investment / not?

There is a reason why these guys are so keen in selling these ULIPs and there is a reason why impossible Infinia suddenly becomes possible and all the higher officials suddenly become interested in providing Infinia.
Because they earn a lot from those ULIPs. Where does this much money come from to satisfy so many people at such an extent

What they do with our money is none of our business.. we have to mind our business. they mind their business.
They are here to make money..
so as we .We are here to look after ourselves and maximise our benefits..

Do you think they don't earn big money on our FDs?? Do you think they put our FD money in safe deposit lockers?

They also make big money on our FD money.. so thats why I said its their business to maximise their returns on our money..
Its our business to maxmise our returns on our money.. dont worry about what they do with our money..

 

[kshitij_0]

Here in the above context, the question is not whether FD/ ULIPs is better ?? question is what is considered as investment / not?


What they do with our money is none of our business.. we have to mind our business. they mind their business.
They are here to make money..
so as we .We are here to look after ourselves and maximise our benefits..

Yes definitely but my point is we are not getting benefitted, only they are getting benefitted. The reason why I gave that example which I was showing from the pov of banks/bankers is just to prove that we are actually not getting benefitted. Net profit is fixed. If one is benefitted more then other is going to get less benefitted/lose.

Do you think they don't earn big money on our FDs?? Do you think they put our FD money in safe deposit lockers?

They also make big money on our FD money.. so thats why I said its their business to maximise their returns on our money..
Its our business to maxmise our returns on our money.. dont worry about what they do with our money..

They do earn from FD for sure. I didn't say that FDs are good investments either. FDs are just better than ULIPs.

 

[SSV]

Yes definitely but my point is we are not getting benefitted, only they are getting benefitted. The reason why I gave that example which I was showing from the pov of banks/bankers is just to prove that we are actually not getting benefitted. Net profit is fixed. If one is benefitted more then other is going to get less benefitted/lose.

See thats why we should only look at our POV..when making decisions.. if we look at from other's side we can never make any decision...

For eg: Why there are buyers and sellers in the stock market at the same price..
Buyer POV - the stock will go up..
Seller POV - The price will go down..

As a Buyer if you think from the seller POV and think why this seller is selling now, may be he is thinking the price will go further down..down.. then you are never going to buy anyting.. Ok, got it..

They do earn from FD for sure. I didn't say that FDs are good investments either. FDs are just better than ULIPs.

You think FD s are better than ULIPs..
Can I show you in 10 year time my ULIPs are going to outperform FD's by miles ??

As I said, we have to think from our point of view only..
Do you know, there is a facility to switch between funds in ULIPs , unlimited times freely in these 10 / 20 years.. It is like timing the market.. even if you are correct 60 to 70% of time, you will get atleast 2X FD returns....
That is why we have to think how to maximise our returns given the situation... Think what we can do beyond what the product offers on the paper...

There is a lot to learn in this field, you need to keep on learning and improve your returns.. rahter than what Banks earn from our money.. because they are getting benefitted doesn't necessarily mean that we are going to lose equally.....

Note: I audited banks in my previous profession.. so I know what Banks POV is..

 

[bsc0008]

By seeing all the discussions supporting both the sides, I just roughly did a calculation on my own. This might be wrong also, so correct me if I made any mistake.



Just by seeing the final values, a loss of 1L over a period of 10 years doesn't look like much.

One thing we all have to keep in mind is, EVERYONE's FINANCIAL SITUATION IS DIFFERENT AT EVERY LIFE STAGE. When you ask me if 50K is big amount 10 years back, I'll say definitely it's a huge amount. But if you ask me the same question again now, I'll say it's not that much big. Similarly for few a notional loss of few lakhs that too over a period 10years is negligible.
@Lobogris & @S S V just shared their way of getting the card & they again iterated that the expected loss or gain doesn't gonna make a change in their financial health. Instead of waiting a few years & wasting time they took the way which worked best for them.