Mutual fund SIP through Credit Card

[Cheritha]

Is there any way to invest in monthly mutual fund SIPs using Credit Card - apart from using Rent option to transfer amount feom CC to bank account and then invest

 

[prc1990]

Is there any way to invest in monthly mutual fund SIPs using Credit Card - apart from using Rent option to transfer amount feom CC to bank account and then invest

Paying through Credit Card is not available for most of the AMCs I believe. Even you wouldn't get any option to pay through your Debit Card as well I think. The only options are Net Banking/UPI if I'm not wrong.

 

[vysakh]

SEBI has banned using all forms of credit for all kinds of investments. So, there is absolutely no way to do it directly. Using rent option to transfer money to your own account is a bit scammy and might get under scrutiny. Do at your own risk. Moreover, you lose some money in this process as commission to the rentpay agent and GST. You might recover some money back as the CC benefits or milestone benefits, but unless you're really bad with the investments, you should get more benefit by investing all that money directly into the fund from the account.

 

[Harry1]

Paying through Credit Card is not available for most of the AMCs I believe. Even you wouldn't get any option to pay through your Debit Card as well I think. The only options are Net Banking/UPI if I'm not wrong.

Debit card option is there at few places. In fact, hdfc platinum debit card even gives 1% cashback on billpay auto sip payments.

 

[AllSeeker]

Debit card option is there at few places. In fact, hdfc platinum debit card even gives 1% cashback on billpay auto sip payments.

Some brokers, namly SAMCO even allows transferring money to trading account using Debit card, but it's trading account and you need to do the "investment/trading" part yourself.

 

[viralsanghavi32]

SAMCO doesnt allow

 

[AllSeeker]

SAMCO doesnt allow

I checked, it doesn't now.

 

[Akashgod]

1 simple trick if ur debit card gives cashback on paytm. Load to wallet then load to zerodha through paytm bank

 

[ChurningNoob]

Wouldn't allowing to pay for SIP / MF / stocks using credit card will be sort of Harshad Mehta scam?

 

[vysakh]

Wouldn't allowing to pay for SIP / MF / stocks using credit card will be sort of Harshad Mehta scam?

Exactly why SEBI has banned it.

 

[ChurningNoob]

Debit card option is there at few places. In fact, hdfc platinum debit card even gives 1% cashback on billpay auto sip payments.

I know this wont be possible but checking if its possible to pay home loan EMI using credit cards? 😈

 

[prc1990]

I know this wont be possible but checking if its possible to pay home loan EMI using credit cards? 😈

Ain't you using auto debit facility for your HL EMI?

 

[Harry1]

I know this wont be possible but checking if its possible to pay home loan EMI using credit cards? 😈

There are various ways to transfer credit card money to bank and then u can do anything using that.

 

[prc1990]

There are various ways to transfer credit card money to bank and then u can do anything using that.

Yep 😜

 

[ChurningNoob]

Ain't you using auto debit facility for your HL EMI?

Yes, currently its through ECS mandate.

 

[ChurningNoob]

There are various ways to transfer credit card money to bank and then u can do anything using that.

I just want to increase my credit card usage and expense for rewards - I think this trick should also work right?

 

[Harry1]

I just want to increase my credit card usage and expense for rewards - I think this trick should also work right?

Yeah, just don't overdo.

 

[BlueFlash]

I know this wont be possible but checking if its possible to pay home loan EMI using credit cards? 😈

A UHNI acquaintance of mine had paid the down payment of his home using credit card (42L CL) a couple of years back XD

 

[Bob78900]

A UHNI acquaintance of mine had paid the down payment of his home using credit card (42L CL) a couple of years back XD

By transferring money from credit to bank account right?🥲😂

 

[Bob78900]

How to do that?

The only method ik is using rent payment option pay rent using credit card to your own bank account. Or by adding money in paytm wallet and then transferring it to your bank account.( Charges will be applied for both wallet and rent payment). Still i don't know how to do it for free. Earlier you can add money in paytm wallet for free by just using Zomato. Now i don't know if it is working or not.