Home Loan Payment Offers
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Hi Dimers, I want the best way to pay home loan.
1. All the bill payment offers which can be applied. The cashback offers can be as low as 10 and payment ticket size of 100. (I don't think bank worry on how many times I make the home loan payment)
2. Leveraging CCs to pay home loan (Getting 45 days free interest and reward points)
3. Using Rupay UPI especially HDFC Rupay CC to get 1.5% extra rewards upto 500 each month.
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Mostly not possible to get any cash back on home loan payment as far as I know. This is because bank/home loan provider always deduct EMI as auto debit from your account. If you pay manually then it might be possible.
Agree, I am asking for offers on top of EMI.
Suppose if I can get an SBI card 5% cashback offer on home loan payment.
Paying 50,000 extra will fetch me 2500 rupees.
Its not possible, SBI never agreed to remove auto-debit.
Let the auto debit take care, all these offers etc cumbersome and eventually you would make a mistake which costs a lot.
YOU FORGOT ONE IMPORTANT POINT, most of the loans repayment dont have any offers to begin with:) home loan is not an exception , loan payment is never rewarding unless you are paying in some gateway that has offers inbuilt in it
P.S. - EMI will auto debit. I am taking a loan for 20 years. But planning to close it as soon as possible. Any extra amount I pay will be through some cashback schemes.
Go for OD loan
You'll save way more than 3-4k
I will pay from salaries.
I think he is asking for other way to pay home loan. Like we pay utility bills and get some benefit out of it
There are no direct ways to get offers for home loan payment, but there are some indirect methods , I have a loan and in 8th year currently and every month I pay 20-30% of the EMI as an additional payment and when ever possible I make use of these indirect ways
1. Will buy Amazon vouchers from Amex portal whenever they have any additional promotional offers like 2k on 50k etc and then sell them for 2.5% and use that to pay the loan top-up amount 5-6% gain
2. Redeem points CC points and reward points to cashback and pay the same amount to loan
3. Previously when Airtel wallet allowed to load 9k via credit card used that method - if there are any similar options you can try that. Paytm as well when there was good offers
4. Doing additional recharges/bill payments using Airtel/Rupay offers and accumulate that amount and use it for loan payment
others might feel this as very tedious and tiring activity but I just used to this with a mindset of a rupee saved is a rupee earned
How to sell Amazon vouchers ??
Use SBiepay to pay using debit card.
Can any loan payment be done through it?
I expect to save around 3-4K across all this every month.