Best Credit Card for NPS Contribution

Investment
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Contributing to the National Pension Scheme (NPS) is a smart move for securing your financial future. However, choosing the right credit card to make these contributions can further enhance your benefits through rewards and cashback.

Best credit card for NPS payment
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Here, I present the best credit cards for NPS contribution based on their benefits and rewards:

Credit Card Benefits
HDFC Card Milestone benefits only
BOB Eterna Card 0.375% benefit for NPS contribution
HSBC Cashback Card 0% benefit for NPS contribution
AMEX Gold Charge 1 Membership Reward (MR) point for every 50 spent, along with milestone benefits for NPS contribution
AMEX SmartEarn/MRCC Milestone benefits only
AU Zenith 1.25% benefit + Milestone benefits for NPS contribution
ICICI APay 1% benefit for NPS contribution
SC Smart 2% benefit for NPS contribution

Additional Tips:

  • Consider using IDFC, IndusInd, or BOB cards with Payzapp for better rewards on NPS contribution.
  • Be mindful of NPS charges with GST, which are around 0.885% for VISA, Mastercard, and AMEX credit card payments.
  • Some cards may not offer reward points on insurance or income tax portals, so choose wisely.

Conclusion:
Choosing the right credit card for NPS contribution can significantly amplify your benefits and rewards. Whether it’s earning cashback, reward points, or taking advantage of milestone benefits, there’s a suitable card for everyone’s financial strategy.

Evaluate your options carefully and make the most out of your NPS contributions with the right credit card.

1 Like
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Thanks a lot for these suggestions. Please clarify how should one use the IDFC First Select Credit Card, either on PayZapp, or otherwise? Also, would SBI Cashback Credit Card give 1% still, after last year’s devaluation?

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0% for SBI Cashback Credit Card.

MCC Code: 9399

Source

For IDFC First Select, reward Points earned on spends on essentials category (like Government) are capped at 600 Reward Points per month.

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Thanks a lot for your detailed response. It really helps. :slight_smile:

For IDFC - what you mentioned about capping at 600 reward points per month, it seems to be for the LIC IDFC First Select, but would this also be for the regular Select as well? I couldn’t find anything online, except for a video by Card Academy, where they mention only 1 reward point for every Rs 125 spent, and no 6x or 10x benefits for Utility payments… would NPS be considered here only?

If so, I should only use my ICICI APay card for now, or try to apply for the SC Smart CC, seemingly the best option for Government payments!