HDFC Bank Biz Grow Credit Card
MyRupaya Ratings
Product Details
Credit Card Name :
HDFC Bank Biz Grow Credit Card
Bank Name :
HDFC Bank
Type :
Business Credit Card
Interest Rate :
3.75% monthly, 45.0% annualy
Eligibility :
The applicant must be a self-employed Indian citizen.
The applicant must be aged between 21 yrs. to 65 Years.
The applicant must have an ITR above Rs 6 Lakhs per annum.
Pros
Up to 55 days interest-free credit period.
Welcome benefit: Users will get a gift voucher worth Rs.250 on making one transaction on this credit card within the first 37 days of card issuance. This gift voucher is redeemable on top brands like Amazon, Swiggy & more.
Reward system: Users will receive 2 cash points on spending Rs.150. General cashback rate:0.33%, effective cashback rate on SmartBuy (against flights/hotel booking): 0.33%. Effective cashback rate against product catalogue via net banking & SmartBuy: Up to 0.33%. Effective cashback rate against business catalogue via net banking & SmartBuy: 0.4%.
Milestone benefit: Users will earn 2000 cash points every quarter on quarterly spending of Rs. 1,00,000. (all retail spending excluding rent and petrol) and users can redeem cash points against the statement. (1 CashPoint = Upto Rs.0.25)
Users can maximize business savings with 10X cash points on selected business spends such as (a)bill payment via Payzapp & SmartPay,(b) Income Tax/ Advance tax payment via eportal.incometax.gov.in, (c) GST payment via payment.gst.gov.in., (d) hotel & flight booking on MMT MyBiz by SmartBuy BizDeals, (e) business productivity tools like Tally, Office 365, AWS, Google, Credflow, Azure & more via SmartBuy BizDeals - Nuclei,(f) Dmart, (g) Cleartax
Fuel surcharge waiver: 1% fuel surcharge waiver at all fuel stations across India.
Dining benefits: Users will get up to 20% savings on all restaurant bill payments with Swiggy Dineout on paying via the Swiggy App.
Users can avail business insurance package starting at an annual premium of Rs.3,785.
Cons
Low general cashback rate.
A maximum of 15,000 cash points can be earned in a statement cycle.
Unredeemed cash points will expire after 2 years of accumulation.
10X cash points will be rewarded on minimum spending of Rs. 10,000 in a statement cycle and a maximum of 1500 cash points can be awarded per statement cycle.
No airport lounge access.
Pros & Cons
Welcome Benefits
As a welcome benefit users will get a gift voucher worth Rs.250 on making one transaction on this credit card within the first 37 days of card issuance. This gift voucher is redeemable on top brands like Amazon, Swiggy & more.
Rewards System
Users will receive 2 cash points on spending Rs.150.
General cashback: 0.33%.
Effective cashback rate on SmartBuy (against flights/hotel booking): 0.33%.
Effective cashback rate against product catalogue via net banking & SmartBuy: Upto 0.33%.
Effective cashback rate against business catalogue via net banking & SmartBuy: 0.4%.
A minimum of 2500 cash points is needed to redeem cash points against the statement balance.
A maximum of 15,000 cash points can be earned in a statement cycle.
Unredeemed cash points will expire/lapse after 2 years of accumulation.
International Forex Markup
3.50%
Welcome Benefits and Reward System
Special Features
10X cash points on your selected business spend.
Fuel surcharge waiver.
Dining benefits.
Eligibility Criteria
The applicant must be a self-employed Indian citizen.
The applicant must be aged between 21 yrs. to 65 Years.
The applicant must have an ITR above Rs 6 Lakhs per annum.
Benefits
Great travel benefits.
Great dining benefits.
Business insurance benefits.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Online Application
Visit the HDFC Bank website: Go to https://www.hdfcbank.com/personal/pay/cards/business-credit-cards/biz-grow
Click on the "Apply Now" button.1. How to Apply for a Business Credit Card Online HDFC Bank www.hdfcbank.com
Fill in the required personal and business details.
Submit the application.
Through HDFC Bank Branch
Visit your nearest HDFC Bank branch.
Request an application form for the Biz Grow Credit Card.
Fill in the required details and submit the form along with the necessary documents.
Contact Details
Toll Free: 1800 202 6161\ 1860 267 6161
Email: customerservices.cards@hdfcbank.com
Account Opening and Procedure
Recommended Credit Cards
Pros:-
Change the text to include your own content. Adjust the font, size or scale to customize the style.
Cons:-
Up to 55 days interest-free credit period.
Welcome benefit: Users will get a gift voucher worth Rs.250 on making one transaction on this credit card within the first 37 days of card issuance. This gift voucher is redeemable on top brands like Amazon, Swiggy & more.
Reward system: Users will receive 2 cash points on spending Rs.150. General cashback rate:0.33%, effective cashback rate on SmartBuy (against flights/hotel booking): 0.33%. Effective cashback rate against product catalogue via net banking & SmartBuy: Up to 0.33%. Effective cashback rate against business catalogue via net banking & SmartBuy: 0.4%.
Milestone benefit: Users will earn 2000 cash points every quarter on quarterly spending of Rs. 1,00,000. (all retail spending excluding rent and petrol) and users can redeem cash points against the statement. (1 CashPoint = Upto Rs.0.25)
Users can maximize business savings with 10X cash points on selected business spends such as (a)bill payment via Payzapp & SmartPay,(b) Income Tax/ Advance tax payment via eportal.incometax.gov.in, (c) GST payment via payment.gst.gov.in., (d) hotel & flight booking on MMT MyBiz by SmartBuy BizDeals, (e) business productivity tools like Tally, Office 365, AWS, Google, Credflow, Azure & more via SmartBuy BizDeals - Nuclei,(f) Dmart, (g) Cleartax
Fuel surcharge waiver: 1% fuel surcharge waiver at all fuel stations across India.
Dining benefits: Users will get up to 20% savings on all restaurant bill payments with Swiggy Dineout on paying via the Swiggy App.
Users can avail business insurance package starting at an annual premium of Rs.3,785.
Low general cashback rate.
A maximum of 15,000 cash points can be earned in a statement cycle.
Unredeemed cash points will expire after 2 years of accumulation.
10X cash points will be rewarded on minimum spending of Rs. 10,000 in a statement cycle and a maximum of 1500 cash points can be awarded per statement cycle.
No airport lounge access.
Axis Bank Miles And More World Select Credit Card
The card is a great travel credit card. It has limited non-travel benefits. The biggest con is that the reward miles cannot be converted into cash directly.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
Joining fee: INR 500/- plus taxes.
Annual fee: INR 500/- plus taxes.
Foreign currency markup: 3.50%.
Fuel surcharge: 1% subject to a minimum transaction of INR 400 and a maximum transaction of INR 5000.
Cash advance fee: 2.5% or INR 500 whichever is higher.
Late payment charges: INR 100 to 1300.
Reward redemption fee: INR99 per redemption request.
Interest rate: 3.75% monthly, 45.0% annually.
Fuel Surcharge
Fuel surcharge is 1% at all fuel stations across India only for a minimum transaction of ₹400 and a maximum transaction of ₹5000. The maximum cashback per statement cycle is INR250.
Billing Cycle
Up to 55 days