Infinia Infinia + Tanishq Redemption

[CivSim]

I was going through ways to redeem 80k Infinia points without travel, and saw that Tanishq redemption of 50k looks interesting from a point to rupee perspective. Though gold coins are not allowed, looks like they have low making charge necklaces that give almost .9 rupee per point when encashing (buy at 8k/gm and sell at 7.3k/gm for 22ct).

Has anyone else tried this? I’m just trying to make sure that I’ve not missed anything in my calculations.

 

[drsel]

3% GST
Making charges when you buy
melting charges when you sell
dealers margin when you buy
dealers margin when you sell

 

[drsel]

Ask the shop "if I buy using a voucher given by HDFC and sell it back to you on the spot how much will you give me?"

 

[CivSim]

Ask the shop "if I buy using a voucher given by HDFC and sell it back to you on the spot how much will you give me?"

3% GST
Making charges when you buy
melting charges when you sell
dealers margin when you buy
dealers margin when you sell

Thanks for the breakup.

Ask the shop "if I buy using a voucher given by HDFC and sell it back to you on the spot how much will you give me?"

I like the simple solution you gave 😀

I called them and they said this:

• 3% GST
• 12% making charge
• 3% margin when selling back to them

 

[drsel]

Thanks for the breakup.

I like the simple solution you gave 😀

I called them and they said this:

• 3% GST
• 12% making charge
• 3% margin when selling back to them

Gold jewellery will cost you 115% to buy and when you sell it back IMMEDIATELY you will get 97%

 

[drsel]

Big loss at least 18%
And they have not told you their margin when you buy

 

[tachniki]

Big loss at least 18%
And they have not told you their margin when you buy

That gets covered in 12% making charges, right?

 

[drsel]

That gets covered in 12% making charges, right?

Check the pure value of 24 carat gold or 22 carat gold

 

[drsel]

18% loss on Tanishq will reduce the value of HDFC Infinia points to only 82 paisa, if used to buy any Tanishq jewellery.
A Similar valuation exist for Apple products

So it is better to use HDFC points only for flights on SmartBuy

 

[CivSim]

18% loss on Tanishq will reduce the value of HDFC Infinia points to only 82 paisa, if used to buy any Tanishq jewellery.
A Similar valuation exist for Apple products

So it is better to use HDFC points only for flights on SmartBuy

A lot of times, I’ve found that prices from skyscanner/direct indigo vs smartbuy shows smartbuy is overpriced by 16%. And prices for seats were also higher on smartbuy.

In my case, since I don’t have anything to buy, I think I’ll get better returns on converting points to rupees and investing it rather than keeping it in points and buying something I don’t need to encash points later. Maybe it’s the miser/frugal person in me thinking.

Experimenting
For Tanishq, the point to rupee conversion comes to around 71% when accounting for the rupees used to get vouchers which also faces the 18% dip upon selling.

I’ve bought the vouchers and will be doing the conversion to gold and then to rupees today. Will keep you all posted on how much I eventually end up with 🤞

 

[drsel]

A lot of times, I’ve found that prices from skyscanner/direct indigo vs smartbuy shows smartbuy is overpriced by 16%. And prices for seats were also higher on smartbuy.

In my case, since I don’t have anything to buy, I think I’ll get better returns on converting points to rupees and investing it rather than keeping it in points and buying something I don’t need to encash points later. Maybe it’s the miser/frugal person in me thinking.

Experimenting
For Tanishq, the point to rupee conversion comes to around 71% when accounting for the rupees used to get vouchers which also faces the 18% dip upon selling.

I’ve bought the vouchers and will be doing the conversion to gold and then to rupees today. Will keep you all posted on how much I eventually end up with 🤞

71% or 82% in rupees?

 

[CivSim]

71% or 82% in rupees?

Use 49,000 points and spend 21k rupees to get 70k rupees worth of gold which when sold nets 56k rupees.

When I subtract my “investment” of 21k rupees, then my profit of 35k rupees came from 49k points, which equates to .714 rupee per point for a 30 min task.

 

[drsel]

Use 49,000 points and spend 21k rupees to get 70k rupees worth of gold which when sold nets 56k rupees.

When I subtract my “investment” of 21k rupees, then my profit of 35k rupees came from 49k points, which equates to .714 rupee per point for a 30 min task.

What will you get for 50000 voucher only? No cash

 

[Lobogris]

A lot of times, I’ve found that prices from skyscanner/direct indigo vs smartbuy shows smartbuy is overpriced by 16%. And prices for seats were also higher on smartbuy.

That is because Smartbuy is showing the final price with tax whereas the other sites are showing before tax. Smartbuy is almost always cheaper even without the cashback.

 

[Lobogris]

Use 49,000 points and spend 21k rupees to get 70k rupees worth of gold which when sold nets 56k rupees.

When I subtract my “investment” of 21k rupees, then my profit of 35k rupees came from 49k points, which equates to .714 rupee per point for a 30 min task.

Why don't you hold this gold for a year or two? You will make up for the charges as the price generally tends to rise.

 

[CivSim]

What will you get for 50000 voucher only? No cash

Sorry I wasn’t clear earlier. To get redeem 50k smartbuy points via Tanishq vouchers, we need to buy 70k worth of vouchers (due to the 70% rule).

 

[CivSim]

That is because Smartbuy is showing the final price with tax whereas the other sites are showing before tax. Smartbuy is almost always cheaper even without the cashback.

okay, but I also tried this for a couple of domestic flights via indigo and indigo was cheaper. I still ended up booking 90k rupees worth through smartbuy a few months back to claim points despite it being more expensive.

Why don't you hold this gold for a year or two? You will make up for the charges as the price generally tends to rise.

Thanks. That’s what the Tanishq sales guy suggested too, but I’m currently over the comfortable threshold on gold for my investment portfolio and under the threshold for mutual funds due to the ongoing correction.

 

[drsel]

Why don't you hold this gold for a year or two? You will make up for the charges as the price generally tends to rise.

That would be an investment.
He could invest the cash in anything

 

[drsel]

That is because Smartbuy is showing the final price with tax whereas the other sites are showing before tax. Smartbuy is almost always cheaper even without the cashback.

Good observation, this only proves that air tickets is the best use of HDFC points to derive the maximum value of 85.71 paisa, after considering only 70% points utilisation.

This value is derived by a complex formula well known to HDFC investment bankers

 

[theXfactor]

Good observation, this only proves that air tickets is the best use of HDFC points to derive the maximum value of 85.71 paisa, after considering only 70% points utilisation.

This value is derived by a complex formula well known to HDFC investment bankers

How 85.71 ?