Hot Deal

3.17% profit on SBI Cashback Credit Card to Bank (new app)

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Finance Mentor
abhishek012
3.17% profit on SBI Cashback Credit Card to Bank (new app):

App link - https://play.google.com/store/apps/details?id=com.gimbooks.gimbookspay

Login/signup -

Aadhar otp based KYC is mandatory.

Set your bank account to receive payment.

Now choose "Tax" option category.

taxx1

Standard transfer - 1.83% charges only
Instant transfer - 2.01% charges only

Now use your 5% SBI Cashback credit card to pay -

Merchant name - Gimbookstax

taxx

Note - if you use first time payment then it will take sometime to credit (Instant transfer option).

After first payment, next time you will get Instant money in your bank account (if you use Instant transfer option).

Also note - dnt count Saturday, Sunday or bank holidays and first time try with Rs100.

Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
Helpful Helpful
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Quite risky when it comes to playing with online transactions nowadays, as everything we do can be easily tracked.

Any day the IT dept can send us show cause notice and I think hardly any one of us will be able to justify such transactions. pensive

And it's more sad that these new apps pops up every now and then to lure use with such loopholes.

Overall, loopholes are also known even to the IT dept may be waiting to get bigger fishes 🥺

Finance Mentor Finance Mentor
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What do you mean hardly any one of us will be able to justify such transactions ?

Simply told them you are doing your credit card to bank transfer to earn some cashback and also share the app name, you already signup through your aadhar otp.

Everything is on record, you're not doing anything wrong.

Also remember that all the cashback is not enough to pay income tax.
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Beacon Beacon
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Utilities ni choose krna? Charges kam hai

Finance Mentor Finance Mentor
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Bhai 5% SBI Cashback Credit Card Utilities pe cashback nahi deta hai.

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Deal Subedar Deal Subedar
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+1

Deal Lieutenant Deal Lieutenant
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Looks interesting but wont it have tax complications because it seems like a tax paying app


hmm suprising to see tax payment giving 5% guess MCC is not tax related thats why


VU+ lets see how many is gonna loot this loop hole

Finance Mentor Finance Mentor
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Some tax MCC codes are eligible for 5% SBI Cashback credit card.

For example - MCC - 9311

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Deal Subedar Deal Subedar
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Good plus1 but sadly utilised the cashback limit for this month. Let's hope this trick stays active until next month

Deal Newbie Deal Newbie
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can you dm me the trick. thanks

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Deal Cadet Deal Cadet
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Not working for me. Showing error while loading payment page 

Deal Cadet Deal Cadet
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IoS app also there?

Deal Cadet Deal Cadet
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Thanks for tagging, Great Find, IoS app also there?

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Post Emperor Post Emperor
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Limit 2k per transaction @abhishek012

Hotshot Hotshot
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Screenshot2024-08-18-01-47-47-40587915299290bf415488f4cf3673310bGetting this error since 3 days. Is it's monthly limit 5K?
Post Emperor Post Emperor
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Try 2k

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Deal Cadet Deal Cadet
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Gajab hai bhai @abhishek012

Kaha kaha se leke aate ho!

Salute to you boss!

Pro Entertainer Pro Entertainer
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Ek bande ne ebix wale thread mai mention kiya tha toh wahi se uthaya hoga

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Commentator Commentator
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Now monthly limit 5k Only ?

Deal Newbie Deal Newbie
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Is there any way to increase card limit?

Blaze Blaze
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Anybody knows MCC for vendor payment in the app?

Post Mogul Post Mogul
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Do I get cashback on cards like axis ace and sc smart cards?

Deal Newbie Deal Newbie
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It seems, sbi cashback card gives cash back for tax or government payments, but axis not, we need to know mcc code for gimbok tax payments
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Deal Newbie Deal Newbie
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For people who were suggesting to lie as utility or something else please understand everything is in the system. Tax payers are the only educated idiots in India, so tax dept will come back to you at some point of time saying you lied it with the all the system proof and the ask you to payback the tax with the interest. 

You cannot be like any businessman in India who flew back to other country and escape from even a credit.

If u want to lie, transform to a biz man and support the government with direct donation or indirect donation 😜

Deal Cadet Deal Cadet
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Paying tax with others apps is not allowed?
Deal Cadet Deal Cadet
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As this is Tax related payment and we have given our PAN number also. Will this get reflected in ITR portal ?

Deal Cadet Deal Cadet
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vu .kg+
Helpful Helpful
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Quite risky when it comes to playing with online transactions nowadays, as everything we do can be easily tracked.

Any day the IT dept can send us show cause notice and I think hardly any one of us will be able to justify such transactions. pensive

And it's more sad that these new apps pops up every now and then to lure use with such loopholes.

Overall, loopholes are also known even to the IT dept may be waiting to get bigger fishes 🥺

Finance Mentor Finance Mentor
Link Copied
What do you mean hardly any one of us will be able to justify such transactions ?

Simply told them you are doing your credit card to bank transfer to earn some cashback and also share the app name, you already signup through your aadhar otp.

Everything is on record, you're not doing anything wrong.

Also remember that all the cashback is not enough to pay income tax.
View 7 more replies
Wingman Wingman
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Good to know the latest news

Generous Generous
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Mcc kya hai..any idia

Deal Cadet Deal Cadet
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Anyone tried for limit increase?

It says they are not liable for any chargebacks or frauds occurred due to my payment.

Chargebacks is OK but mentioning Fraud worries me.

Kahi yeh 2 to 3% ke chakkar mein yeh log Jhol na karde.

@abhishek012 so many new apps coming and there is no regulation on them.

Finance Mentor Finance Mentor
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Don't do large amount payment in a single transaction.

For example - Yesterday one guy paid 30k through Superpe app (no issue he received the payment instantly)

but why pay 30k ? for safe side, you can do 5k*6 times na.
View 10 more replies
Deal Cadet Deal Cadet
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I have to pay security deposit for my power bill. That is showing on app only. Cant be paid through Amazon pay. Any suggestions to pay this?

Deal Newbie Deal Newbie
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Max 5% cashback is uptp 500( for 10k) 


Deal Cadet Deal Cadet
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Vu working.. Good find

Hotshot Hotshot
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How much did you transact till now?

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Deal Cadet Deal Cadet
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@abhishek012 why u say not to pay big credit card bill on Jiofinance?

Is there limitations on cashback or per transaction cap on cashback?

I am paying my CC bills through HDFC Platinum DC

Deal Cadet Deal Cadet
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Per month you get only max of 750/- cashback on HDFC platinum DC.
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Post Mogul Post Mogul
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@abhishek012 bhaiya wo snapay wala trick bta do

Finance Mentor Finance Mentor
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Snapay post ka comment dekho @Knight11 ka.
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Deal Subedar Deal Subedar
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. @abhishek012 asking PAN or GSTIN while first timelogin, Is it same before or newly started? 

Deal Cadet Deal Cadet
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It is mandatory to give PAN.
Deal Cadet Deal Cadet
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Still working?

replyuser
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