We all know that Yes Bank is the newest entrant in the Credit Card Industry in India and aims to capture the No. 3 slot in the Industry by 2020. Even though, this target is lofty but by no means is it impossible. We have seen that there has been an immense push for the masses to embrace digital economy with the recent demonetization move by the Indian Government and this has led to a serious traction for the Credit Card Industry.
Earn 2X Reward Points
Having said that, Yes Bank with their lofty target in sight, are leaving no stones un-turned to pitch in the best offers for their Elite “YES FIRST Cards” which include the Premium Segment YES FIRST Preferred Credit Card and the Super Premium YES FIRST Exclusive Credit card.
Get 100% Bonus RP on your Insurance Payments with Yes First Credit Cards:
Offer: Till 31st of March, 2017, you have a chance to earn 100% RP as bonus (2X points in other words) on your Insurance Payments with your YES FIRST Credit Cards (Max Capped at 10,000 RP)!!
What does this mean for YES FIRST Credit Card users?
This means that if you pay your insurance premium with your YES FIRST Credit Cards during the offer period, on top of the normal reward points that you’ll earn, Yes Bank will pay you 100% extra RP to a max of 10,000 extra bonus points.
In simple language, if you get 6,000 points for your insurance payments, Yes Bank will give you another 6,000 bonus RP. However, if you get 15,000 RP due to the normal spending on paying insurance premiums with your YES FIRST Cards, Yes Bank will give you additional 10,000 RP (Max Cap).
Thus, you see, instead of getting 15,000 RP you’ll end up getting 25,000 RPs. Isn’t it cool?
- 10,000 extra RP means ₹2500 (1 RP = ₹0.25)
Important Points to keep in mind:
- Card members will earn 100% extra bonus RPs or 10,000 RP, whichever is less.
- No minimum spend criteria under this offer. All Insurance Premium Spends will be considered.
- Insurance Premium Payments made on Add-On Cards will also be considered for gaining RPs, however, the maximum bonus RPs that can be earned Per Credit Card Account is 10,000 RP.
- Offer valid till 31st March, 2017.
- The Bonus RPs would be posted to Card Holder’s account latest by 30th June, 2017.
I think this is a really lucrative offer where in you can earn up to ₹2500 extra without sweating it out at all. All you have to do is to register for this utility bill payments by sending a Physical Form that is available in their website and register and pay for the insurance premium before the offer period ends.
Even though, cards like Diners Black Card through their generous 10X program, can allow earning of up to 33.33% (Diners Black Variant) on their Insurance Premiums through the Smart Pay feature but still, this offer from Yes Bank is one of the most lucrative offers in the industry in this front.
Let us know what do you think of this offer from YES BANK and how many of you are able to successfully make your Insurance Premiums with your YES FIRST Credit Cards.
Update: You get 1000 RPs (₹250) for every new YesPayNow registration with auto debit option.
Sadly Smart Pay feature on Diners Black is not working, atleast for me. They’re unable to charge the card for both of my Landline bill and also LIC premium. Something seems to be wrong with the system.
Btw, YesFirst promo seems to be good, that’s a decent 5% savings on Exclusive variant.
It seems to be working for me at the moment. I’ll keep an eye out for our autopayments and update if there is something really fishy from HDFC Bank’s side.
Siddarth, for diners cards one has to contact the customer care for setting up smart pay, it’s not allowed using netbanking . After that it works fine. For my diners rewards, the issue was resolved in this way.
Hope this helps
Interesting. Will get it checked with them then.
I was able to setup Samrtpay online. Cancellation needs a call to the helpline.
It can be set online. I did set up a biller 2-3 days back online. However, if you need to delete a biller, you’ll need to call them. Your request for deletion will be taken care of within 48-72 hrs and once it’s done, you’ll get a confirmation email that billers have been deleted. Simple.
Very interesting move from Yes Bank considering many would be paying insurance premiums for tax saving purposes. Would be cool if they allow future payments through the channel as well i.e. register before 31st March, but payments get done post April.
thanks!
Yes, the best part is you get 1000 RPs per YesPayNow addition. I forgot to mention that in the post. I’ll update the post accordingly. This allows you to earn a cool ₹250 every time you add a biller with Standing Instructions for auto debit.
Sadly, You will have to do it manually by filling the form and dropping it to their ATM or Bank Dropboxes.
Any idea on the minimum locking period for the standing instruction? 3 months, 6 months , 1 year ?
Since the setup is a manual process, once it is activated, can we cancel it online?
No. There is no locking period I guess. There is an option to change the standing instructions or scheduled payments. However, I don’t have any standing instruction limit. whatever is the bill amount, in my case the entire amount gets paid. No limit.
Hey Abhishek
How has your experience been with Yes Bank Standing Instructions (SI)? Any hiccups? Do they pay on or before the due date? Is there an option to have SI 2 days b4 due date?
Do they alert you b4 and after payment? Do they send you a receipt?
Thanks in advance.
I have no experience with Yesbank SI. The sole reason being the manual way it needs to be set up. You don’t have a choice as to how many days before the bill due date the payment will be debited. The bank will do it as per the industry standard norms. Besides, yes you will get receipt for the same I guess. For more info you need to contact Yesbank directly
Hi Aman,
You get an SMS once the bill is generated. The SI gets executed 3 days before the due date (It may vary by a day) and after it gets processed, you get a confirmation SMS. So far the payment got always credited before the due date. I didn’t receive any email receipt for it and I didn’t bother to ask about it.
Looks like I got my yes first card just in time ?
I am having diners premium and yes first preferred. I have to pay my premium this month of around 1.5 lakh. Which card should I use for doing this? Please suggest.
Probably Preferred to avail this offer.
Hi sir i am looking for a good credit card.my salary was 51k i am first time applying for a credit card.please suggest me good card with less annual and joing fees and more offers to save my money please help me.
Appreciated Your Quick Responses and Supports.
Thanks & Regards,
Ajay Babu
Oracle SCM Functional Consultant.
Visit the nearest branch Ajay, or you can apply online as well.