RBL Bank Signature+ Debit Card

[Karvanna]

- 1000 Rs Worth Voucher Every Month Even u Spend 1Lakh in anything (Wallet ,Rent,CC Bill Also)
- No Forex Charges (Other bank Charge 4%) On POS And Online Txn Only
- 2 Domestic Lounge Access Mostly Every Airport is there in the List
- Bonus 5000 Rs Worth Voucher When You Spend 5 Lakh in a year (This is Totally Seperate)
- Joining Fees 5900 incl tax (You will get Voucher Worth 5000)
- Annual Fees Waived Off If You Spend 3L in a year
- You Can redeem As vouchers In almost 30+ Brands (Flipkart,Amazon,Myntra Is Included)
Best Debit Card CC Bill Payers✌✌✌✌👌👌👌👌

 

[insight]

Yes, You are charged with INR 5900 for the RBL Signature+ DC and you can get Rs. 5000 Multi-Brand Vouchers (Amazon, Flipkart, Myntra & all major brands are there) after paying the Joining Fees. (So, INR 900 get's lost in GST)

Ok. Can the 5K be split to be used at multiple brands or becomes one brand once chosen for Redemption?

And, In an Year, If you're able to pay the CC Bills or Can do spends of 5L or More
then you get 1% of 5L = 5000 + Rs. 5000 Voucher more and
then you're also not charged with the Annual Fees.

Hmm.. that is a tall order for my current medical predicament.

At the least the following math / computation also makes sense as spend drives above 1.x L.

I do not have a HDFC savings account and was thinking to open one just for the 1% cashback offer on CC bill payments. Following is a small exercise I did to decide it.

Savings Account options:

1. Normal savings account:
- Min. balance: 10K
- Interest: 3% pa
- Millena DC: Rs. 500 + taxes
- Platinum DC: Rs. 750 + taxes

If I book a FD of 10K, I can earn ~7% pa. So by keeping that money in the savings account, I am loosing 4% that is Rs.400/year.

Millenia DC:
Total expenses per year: 400 + 500 + taxes ~ 1K
Min CC spends to cover these expenses: 1L

Platinum DC:
Total expenses per year: 400 + 750 + taxes ~ 1.2K
Min. CC spends to cover these expenses: 1.2L


2. Savings Max account:
- Min. balance: 25K
- Interest: 3% pa
- Platinum DC: Free

If I book a FD of 25K, I can earn ~7% pa. So by keeping that money in the savings account, I am loosing 4% that is Rs.1000/year.

Platinum DC:
Total expenses per year: Rs. 1000/year
Min. CC spends to cover these expenses: 1L



Currently, I get 0.25% cashback on my CC bill payments. Hence, to really not to bear losses, my CC spends should be 1.3L.

Findings of this small, simple and fun-filled exercise suggest that:
(1) going through the hassle of opening the HDFC savings account only for the 1% cb on CC bills makes sense only if I my CC spends in a year are 1.3L or more.
(2) I should factor-in the existing cb and not be delusional by simply assuming I am going to earn 1% for equal CC spending as earlier.
(3) It is ok to open the Savings Max account.

P.S.: I know this exercise matters only to people like me who are not rich (yet 😜). @everyone, please let me know if I am missing something.

If you're on the early stages of your financial journey, having multiple accounts don't seem to be the right choice.

If you're thinking twice for maintaining 25k AMB, then that suggests two things: EITHER you already have other bank accounts with liquid cash there OR you can't maintain 25k mab in account.

If you fall in the second category, that suggests that your CC spends are not enough that you should worry about petty 1% cashback from HDFC (~ 50-100)

If you belong to the first category, that means you're financially strong enough to maintain that account and having thoughts if it's wise to maintain that balance. In that case, do your cost benefit analysis on other accounts you own about the benefits you're getting there vs at hdfc. Consider your spends per month and add that into consideration as well.

You'll get your answer there.

So basically, if your spends are under 10k per month, don't go for a new account.

If you can open an FD of 1L in Semi-Urban and Rural or 1.5L in Urban and Metro locations, go for that approach instead.

 

[simplegarv]

Ok. Can the 5K be split to be used at multiple brands or becomes one brand once chosen for Redemption?

Hmm.. that is a tall order for my current medical predicament.

At the least the following math / computation also makes sense as spend drives above 1.x L.

1. Yes, Why not?
2. As, @rafzy said, "Even wallet loads are considered for this card as spends. So transfer 1 lakh a month from your savings to this account. Put it back onto PayTM wallet using your signature dc, then to PayTM payments bank and then straight back to your savings account." (60K will also do the job).

 

[insight]

1. Yes, Why not?

Ok. Cause the Multi Brand vouchers via AXIS ER are fixed amount 2.5k etc for one brand out of the Multi Brand selection.
I am wondering if single or multiple similar brackets for the split apply

 

[simplegarv]

Ok. Cause the Multi Brand vouchers via AXIS ER are fixed amount 2.5k etc for one brand out of the Multi Brand selection.
I am wondering if single or multiple similar brackets for the split apply

Na Na it's not the case here.

 

[insight]

Technically you don't have to spend a dime to get those vouchers.
Even wallet loads are considered for this card as spends. So transfer 1 lakh a month from your savings to this account. Put it back onto Paytm wallet using your signature dc, then to Paytm payments bank and then straight back to your savings account. simple 🙂

Everyday on TF I learn something new 😀 lol!

This is not a secret hack/ glitch that will suddenly be blocked I hope.

 

[simplegarv]

Everyday on TF I learn something new 😀 lol!

This is not a secret hack/ glitch that will suddenly be blocked I hope.

According to some, this is already PATCHED as PayTM is not allowing many users to load wallets with DC.

 

[Lobogris]

Easiest way to maitain mab is roll 1 lakh for 2 days to this account and the rest of the month you can run with 0.balance since avg monthly will be more than 5k. I do this every month. Easy peazy.

What is the problem with keeping 5 or 10k there?

 

[rafzy]

Everyday on TF I learn something new 😀 lol!

This is not a secret hack/ glitch that will suddenly be blocked I hope.

dont hope for it man.... 😀
Enjoy till its there.

 

[rafzy]

According to some, this is already PATCHED as PayTM is not allowing many users to load wallets with DC.

I did load around 20k yesterday using my SIgn plus dc to paytm wallet and it worked. so works for me atleast, for now.

 

[rafzy]

What is the problem with keeping 5 or 10k there?

absolutely nothing... but there's always a sense of satisfaction in beating them at their own game 😀

 

[AritraSaha]

Technically you don't have to spend a dime to get those vouchers.
Even wallet loads are considered for this card as spends. So transfer 1 lakh a month from your savings to this account. Put it back onto Paytm wallet using your signature dc, then to Paytm payments bank and then straight back to your savings account. simple 🙂

kotak, jiomoney, chortel, indie, indusind, all this will work..
Paytm, mobidick, scamazon, slice all wallet will work..

Cumulative tranx should be 10k to get the gv..

 

[insight]

Context: I have 2 cousins who work for RBL, one is high up so not wanting to ask favors for such a small DC. But in general..

But is there / are there any RBL Employee perks or Friends & Family (F&F) discounts/ referral leads offers if anyone is aware?

In US we had lots of F&F offers easily gotten via Employees etc. for IBM or HP or similar corporate perks for F&F.

 

[rockyBalboa]

Just received cashback points for last month.

 

[Anil_Singh]

Just received cashback points for last month.

I didn't even get welcome voucher. Lucky you.

 

[sm9811911]

I didn't even get welcome voucher. Lucky you.

Welcome voucher takes time. Not delivered on same date as monthly.

 

[Copycat]

Just received cashback points for last month.

Did everyone get the monthly points? I used only IndusLoad last month and haven't received any email yesterday. Checked the link, nothing there either. I wonder if IndusLoad is no longer valid as a points earning mechanism...

 

[rockyBalboa]

Did everyone get the monthly points? I used only IndusLoad last month and haven't received any email yesterday. Checked the link, nothing there either. I wonder if IndusLoad is no longer valid as a points earning mechanism...

I just checked again, I received for edc. For a family member's signature+ it's still pending.

 

[Copycat]

I just checked again, I received for edc. For a family member's signature+ it's still pending.

Thank you. I was a bit worried.

 

[Copycat]

Just got the email for Signature+. So IL still works fine

 

[Anil_Singh]