HDFC Bank has a new credit card for freelancers, professionals, and small business owners. In today's busy business world, people need tools to make managing their money easier and help their businesses grow. Let's take a closer look at this credit card. We'll explain what it offers, its good and bad points, who can get it, and what it costs."
Features of HDFC Biz Grow RuPay Credit Card
Welcome Benefits
Users will get a gift voucher worth INR 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 Program
Users will receive 2 cash points on spending Rs.150. The general cashback rate is 0.33%, and the effective cashback rate on SmartBuy (against flights/hotel booking) is 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%.
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, and (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
Milestone Benefits
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.
Dining Benefits
Users will get up to 20% savings on all restaurant bill payments with Swiggy Dineout on paying via the Swiggy App.
Business Insurance
Users can avail themselves of a business insurance package starting at an annual concessional premium of INR 3,785.
UPI Payments
Users can link their RuPay credit card directly to their UPI app and can make UPI transactions using this credit card. You can link your HDFC Biz Grow RuPay credit card to UPI is a simple process. Here's a guide to help you:
Step 1: Open your UPI app.
Step 2: Look for the "Add Credit Card" or "Link Credit Card" option.
Step 3: Select HDFC Bank as your issuing bank.
Step 4: Enter your credit card details and complete the verification process.
Step 5: Set your UPI PIN.
Step 6: Start using your HDFC Biz Grow RuPay credit card for UPI payments!
Cons of HDFC Biz Grow RuPay Credit Card
Annual fees associated with the card.
Eligibility criteria may pose constraints for some applicants.
There is a low capping limit for cashback on tax-related payments.
Eligibility Criteria
Individuals with a stable income source and a good credit score are eligible to apply for the HDFC Biz Grow RuPay Credit Card. Last year, ITR should be above INR 6 Lakhs.
Fees and 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: INR 99 per redemption request.
Interest rate: 3.75% monthly, 45.0% annually.
MyRupaya Opinion
The HDFC Bank Biz Grow RuPay Credit Card offers several advantages, including convenient UPI payments and business-focused rewards. While it's important to weigh the fees and eligibility criteria, the card's potential to simplify financial management and enhance spending power makes it a valuable tool for many. We recommend thoroughly assessing your business needs and comparing it with other available options to determine if it aligns with your financial goals.
Click here for our rating of this credit card and a detailed review.
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