Chances are someone may have posted about this here but anyway, I'm going ahead and clearing out the air as I've observed how cashback calculation has changed w.e.f. 1st August, 2024.
Earlier, all the transactions done via UPI was calculated at the end of monthly statement and then 1.5% of it was credited as NeuCoins.
Now, the rule is, all UPI transactions will fetch 0.5% as NeuCoin and extra 1% will be credited only if transaction is carried out from Tata Neu app.
So, now, all the UPI transactions done in a monthly statement is summed up and 0.5% of it is credited as NeuCoin post statement generation just like before. Only change here is that the 1.5% is reduced to 0.5%.
Now, about the additional 1% as NeuCoin is rounded off (0.5 will be 1 ... 1.2 will be 1 ... 1.8 will be 2 and so on) and instantly credited as soon as transaction on UPI is done via Tata Neu app.
Basically, earlier, before this devaluation, any amount, be it even Re. 1 would fetch 1.5% NeuCoin as all the transactions done on UPI was summed up and then 1.5% of it was credited as NeuCoin.
But now, 1% extra is credited as NeuCoin instantly and because of this, the minimum amount to get 1.5% cashback for Infinity RuPay variant is Rs. 50 but earlier it was any amount, even Re. 1
So, my suggestion would be, for Rs. 50 or more, please use Tata Neu app. For any amount lesser than that, please expect 0.5% cashback only and for that matter, you're even free to use any UPI app because anyway 1% of Rs. 49 of even lesser would be 0.49 and rounding off 0.49 would become 0. At least using Cred may or may not reward you with Re. 1 or Rs. 2 cashback at least.
One good news though, for amount as low as Rs. 50, you're getting 0.25 + 1 NeuCoin which is a whopping 2.5% reward rate.
for amount as low as Rs. 50, you're getting 0.25 + 1 NeuCoin which is a whopping 2.5% reward rate.
How you get 2.5%? For Rs 50 0.5% is 0.25 and 1% is 0.5 total 0.75 1.5%
mostly people forgets that "tata discount" stuffs dont justify usually even after using neu coins:)
just adding this info:)
so 1.5% reward rate is not really "1.5% on value" (because tata platform stuffs on general are costly even after applied discounts comparatively to other platforms)
i used to get 60-90 coin per month now i get like 6-9 lol without tata shit app
I did 39000 via TN app..
In hdfc it's showing as 195 points ( 0.5%)
Remaining 1% 390 should appear in TN right ?
But got 375 only and title is Neucoins for UPI spends . Is this correct?
Also 500 max is the limit for UPI spends right?
How it's working here 195+375 more than 500
https://www.hdfcbank.com/personal/pay/cards/cre...
@sahil1033 One more change that I noticed, the 1% instant neu coins visible on tata neu app after making the upi transaction is credited in locked state which can be used only after 30 days. So if the upi transaction is done on 22nd Oct then it is usable only after 22nd Nov. The 0.5% neucoins given by hdfc in the statement remains the same, ie. will be credited in 1 or 2 post statement generation and can be used immediately.
mostly people forgets that "tata discount" stuffs dont justify usually even after using neu coins:)
just adding this info:)
so 1.5% reward rate is not really "1.5% on value" (because tata platform stuffs on general are costly even after applied discounts comparatively to other platforms)