IDFC First Bank Launched its Debit Card Reward System

[kushhh]

Its available everywhere. We just have to select Direct plan instead of Regular.

How can one know if it's direct or regular?
I bought Parag Parikh Flexi Cap Fund , is it direct or regular?

 

[Chaitanya-a]

How do you go with HDFC AMC instead of HDFC Bank

It has its own website hdfcfund.com
But the catch is we can only buy HDFC funds from there. Likewise sbimf.com

So its better to go with discount brokers (upstox, zerodha etc) who give option to invest in direct funds instead of full time brokers (banks) & AMCs.

 

[kushhh]

Y

It is written in front of the fund name

Yea got it , it's there

 

[jack333]

You will pay 1% indirectly as fees to bank (distributor). So you pay them 20k. If you purchase same mutual fund through direct (like zerodha coin or mutual fund website), you don’t pay that 20k.

Always buy direct mutual fund and save 1 to 2%

Zerodha coin had joining and membership fee i think whereas upstox and groww are free to use

 

[jack333]

But zerodha is not free i think as compared to upstox and groww. In direct funds also the expense ratio is not zero its between 0.5 to 1%. Am I missing something here?

 

[Chaitanya-a]

But zerodha is not free i think as compared to upstox and groww. In direct funds also the expense ratio is not zero its between 0.5 to 1%. Am I missing something here?

Expense ratio is set by funds not brokers.
We have to pay AMC charges on both platforms. Quarterly fees of both are ₹75+GST.

 

[jack333]

I was not charged any fee for upstox and groww account

 

[Chaitanya-a]

I was not charged any fee for upstox and groww account

You might have opened account in an offer period. Coz they keep running zero AMC offers.

 

[krishc]

But zerodha is not free i think as compared to upstox and groww. In direct funds also the expense ratio is not zero its between 0.5 to 1%. Am I missing something here?

that expense ratio you'll pay anyway whatever fund wherever from you buy
it's irrespective of direct or regular
it's basically the cost the MF company charges for running their business, you can call it operational cost
the 1-2% you lose in regular funds compared to direct are the commission charged by brokers (mainly banks and distributors), net operational cost is same in both, commission is what makes the difference here

 

[jack333]

Thanks bro. Do you recommend small cap funds like quant? And what's your opinion on infrastructure funds?

 

[krishc]

Thanks bro. Do you recommend small cap funds like quant? And what's your opinion on infrastructure funds?

I prefer to diversify - small cap/ large cap /index fund / alternative funds like infra contra etc
I also diversify between fund houses across so that I'm not heavily reliant on one particular fund house.
and in any particular category, let's say, large or mid cap, look at the highest rated funds with good returns and compare their current holdings and choose whichever you like.
And as always in MF, point is to stay invested for a really long time so that you get the benefit of compounding.

 

[vivekjainx_]

IDFC First Bank launched its debit card reward system recently. Now you'll earn reward points for spending money using your IDFC First Bank debit card.
Reward portal link - https://www.firstrewards.com/

View attachment 9866

Reward system for IDFC First Bank normal debit card-
2000 welcome reward points on first debit card transaction above Rs. 1000
Online transaction- earn 2 reward points for every Rs. 100 spend
Offline transaction- earn 1 reward point for every Rs. 100 spend
10X reward points (10 reward points per Rs. 100) for every Rs. 100 spent via debit card on incremental spends above Rs. 20,000 in a month.

IDFC First Bank Select debit card reward system-
4000 welcome reward points on first debit card transaction above Rs. 1000
Online transaction- earn 3 reward points for every Rs. 100 spend
Offline transaction- earn 2 reward point for every Rs. 100 spend
10X reward points (10 reward points per Rs. 100) for every Rs. 100 spent via debit card on incremental spends above Rs. 1,00,000 in a month.

IDFC First Bank Wealth debit card reward system-
8000 welcome reward points on first debit card transaction above Rs. 1000
Online transaction- earn 4 reward points for every Rs. 100 spend
Offline transaction- earn 3 reward point for every Rs. 100 spend
10X reward points (10 reward points per Rs. 100) for every Rs. 100 spent via debit card on incremental spends above Rs. 1,50,000 in a month.

IDFC First Bank Private debit card reward system-
20,000 welcome reward points on first debit card transaction above Rs. 1000
Online transaction- earn 6 reward points for every Rs. 100 spend
Offline transaction- earn 4 reward point for every Rs. 100 spend
10X reward points (10 reward points per Rs. 100) for every Rs. 100 spent via debit card on incremental spends above Rs. 2,00,000 in a month.

1 reward point = Rs. 0.25

How to redeem- You can redeem your reward points against gift vouchers, flight booking, recharge, etc.
Just click on "Redeem" and you'll see all the available options.
Link- https://www.firstrewards.com/user/burn

Reward Rate:-

IDFC First Bank Normal Debit Card-
Online- 0.50%
Offline- 0.25%
10X category- 2.5%

IDFC First Bank Select Debit Card-
Online- 0.75%
Offline- 0.50%
10X category- 2.5%

IDFC First Bank Wealth Debit Card-
Online- 1%
Offline- 0.75%
10X category- 2.5%

IDFC First Bank Private Debit Card-
Online- 1.5%
Offline- 1%
10X category- 2.5%

Do we get cashback for credit card payment?

 

[sam4]

Do we get cashback for credit card payment?

I have read that people are getting 1%cb for cc bill pay on paytm and cred but not sure.

 

[vm999]

Do we need to enroll for this or is this still restricted to some users? I use my select debit card regularly but still my points balance is zero.

 

[Chaitanya-a]

Do we need to enroll for this or is this still restricted to some users? I use my select debit card regularly but still my points balance is zero.

You've to raise complaint to get 4000 welcome points for select debit card. They're not crediting automatically for most ppl here.

 

[vm999]

Will contact the customer care then, thank you

 

[CC-Muncher]

You've to raise complaint to get 4000 welcome points for select debit card. They're not crediting automatically for most ppl here.

The response that you will get is that the program is in beta and not opened for all.

 

[Chaitanya-a]

The response that you will get is that the program is in beta and not opened for all.

Yeah but then they credited the points even after closing my service request.

 

[ak93]

Yeah but then they credited the points even after closing my service request.

Did they credit immediately or after a few days? They closed my SR today but don't see any points in the portal!

 

[Chaitanya-a]

Did they credit immediately or after a few days? They closed my SR today but don't see any points in the portal!

After 15 days it was visible. Don't know it was automatic or bcz of complaint 😂