Credit Card

Bajaj Finserv currently offers 3 different credit cards bundled with great offers. Bajaj Finserv credit cards are issued in partnership with Standard Chartered Bank. Credit card from Bajaj Finserv not only offers reward points on credit card on every single penny spent but also makes shopping a delightful experience with manifold credit card offers. One may login to the Standard Chartered Bank website to compare the various credit cards offered from Bajaj Finserv. In the following sections, the details of Bajaj Finserv cards such as benefits of Bajaj Finserv credit cards and the options to apply for a Bajaj Finserv credit card online. The various Bajaj Finserv credit cards offered are as follows:-

Bajaj Finserv Platinum Credit Card (Without joining fee)

The salient features of Bajaj Finserv Platinum credit card

  1. Nil Upfront/ joining fee
  2. 2nd year onwards, there will be an annual charge of Rs. 999.
  3. There is no charge for a supplementary card.
  4. 5 reward points can be earned by customers after spending Rs. 100 at the departmental stores, grocery stores, retail fashion stores and super stores.
  5. 2 reward points can be earned after spending Rs. 100 on other categories as well.
  6. 50 reward points can be earned using Standard Chartered Utility Bill Payment.
  7. On the cardholder’s birthday, 10 reward points can be earned by spending Rs. 100.
  8. An extra reward point can be earned after spending Rs. 50,000 in a statement cycle.
  9. Reward points can be redeemed for vouchers, gifts, holiday packages etc. that will add   savings for the customer

Eligibility for Bajaj Finserv Platinum Credit Card

  • The applicant must be an Indian resident and meet other eligibility criteria specified by the bank including min. age limit and income bracket in order to successfully apply for the Bajaj Finserv Platinum Credit Card.  

Documents required for credit card Application:

  1. Identity Proof
  2. Address Proof
  3. Income Proof documents such as ITR/Salary Certificate or Payslip
  4. Additional documentation may be required as per bank’s requirements

Bajaj Finserv Platinum Credit Card (With Joining Fee)

  1. An Upfront charge of Rs. 999/- is applicable.
  2. Annual charge of Rs. 999 is applicable per year from 2nd year onwards.
  3.  There is no additional charge for a supplementary card.
  4. The applicant is eligible to receive various joining rewards after payment of the joining fee.
  5. 5 reward points can be earned by customers after spending Rs. 100 at the departmental stores, grocery stores, retail fashion stores and super stores.
  6. 2 reward points can be earned after spending Rs. 100 on other categories as well.
  7. 50 reward points can be earned using Standard Chartered Bank’s Utility Bill Payment.
  8. Earn extra rewards during the card holder’s birthday month.
  9. You may also be eligible for bonus reward points after spending Rs. 50,000 in a statement cycle.
  10. These points may be redeemed for vouchers, gifts, holiday packages etc. that will add to the savings of the customer.

Eligibility for Bajaj Finserv Platinum Credit Card

  • The applicant must have a permanent address in India and meet other criteria such as minimum age requirement, min. salary etc. These additional requirements are as per the requirements and decisions of Bajaj Finserv.

Documents required for credit card Application:

  1. Identity Proof
  2. Address Proof
  3. Income Proof such as IT returns/pay slips, etc.
  4. Additional documents may be requested by Bajaj Finserv as per requirement.

Bajaj Finserv Platinum World Credit Card

  1. Bajaj Finserv Platinum World Credit Card is the best credit card in terms of credit card offers and reward point programs
  2. Enrollment fee of RS. 2999/- is applicable
  3. Platinum world Bajaj Finserv card does not have any fees from the 2nd year onwards.
  4.  There is no charge for Add-on credit cards.
  5. Welcome offer for Bajaj Finserv credit card customers who have paid the card joining fee.
  6. 5 reward points can be earned by customers after spending Rs. 100 at the departmental stores, grocery stores, retail fashion stores and super stores.
  7. 2 reward points can be earned after spending Rs. 100 on other categories as well.
  8. 50 reward points can be earned using Standard Chartered Utility Bill Payment.
  9. On the cardholder’s birthday, 10 reward points can be earned by spending Rs. 100.
  10. An extra reward point can be earned after spending Rs. 50,000 in a statement cycle.
  11. These points can be redeemed for vouchers, gifts, holiday packages etc. adding to the card holder’s savings.

Eligibility for Bajaj Finserv Platinum World credit cards

Bajaj Finserv credit cards have some key eligibility criteria such as minimum age, minimum income etc. that need to be met so that an applicant qualifies for the card.
 

Documents required for credit card Application:

  1. Identity Proof
  2. Address Proof
  3. Income Proof
  4. Additional documents as per card issuer requirements.

Loan Facility:

  1. With the help of the credit cards, customer may be eligible to apply for loan against credit card at attractive rates with flexible tenure ranging between 1 year and 5 years.  
  2. Only post dated cheques in favour of Bajaj Finserv are required to avail the loan. Subsequent to submission of this request, the loan amount is credited directly into the applicant’s account.  Moreover, the credit card bill can also be paid off in installments.  
  3. Balance transfer facility is also available at nominal interest for Bajaj Finserv credit card holders.

Value Added Services:-

  1. Advantage Card Enhancement Pack- Cardholder can get great deals on insurance, health and holidays.
  2. CPP- It provides protection to the credit card against fraud, if the card is stolen or lost.
  3. Health Insurance- Health insurance facility is also provided for the card holder’s family.

Online Facilities

Any eligible applicant can apply for the Bajaj Finserv credit card online through Paisabazaar and can track the Bajaj Finserv credit card application online.
 

One can compare all the credit cards offered by Bajaj Finserv on the website and accordingly apply for a credit card.
 

Ways of making Credit Card Payment:-
 

  1. Through cheque/draft in favor of Bajaj Finance-Standard Chartered Credit Card No. XXXXXXXXXXXXXXXX deposited at Standard Chartered Bank branches or ATMs.
  2. Cash deposit at Standard Chartered branches.
  3. It can also be paid through activation of auto payment facility.   
  4. Payment can also be made using NEFT/RTGS facility.
  5. Phone banking facility could be used to make payment as well.
  6. Payment Apportionment- If the customer has multiple credit cards or EMI account with outstanding balance in more than one, the payment could be distributed so that the outstanding could be cleared such that it will result in keeping the account in good credit.

Most Important Terms & conditions

  • Credit card offered by Bajaj Finserv is in alliance with the Standard Chartered Bank and the usage of the card, including the payments terms is governed by the terms and conditions of Standard chartered bank.
  • Credit card offers on Bajaj Finserv cards are the also as per the discretion of SCB bank
  • If the customer fails to make the payment for two months in a row for outstanding balance up to Rs. 500, Rs. 100 will be charged as late fee.
  • Rs. 100 needs to be paid for unpaid Bajaj Finserv credit cards bills which shall be done by authorized persons of the bank.
  • The Minimum Amount Due (MAD) monthly should be highest amount among the following:
  • 5% of unpaid statement
  • Over limit amount of all investments
  • 1% of principal amount or Rs. 250
  • In case the statement balance is less than Rs. 250, the full unpaid amount needs to be paid. If there is an unpaid due from the last month, it will be added to the due amount of the current month.
  • The interest rate of whole year is known as Annualized Percentage Rate (APR). The exact rate would depend on multiple factors including previous payment track record and other factors.  
  • In case of cash transactions, the monthly interest rate is usually higher than the interest rate on purchases. For example in case of a monthly rate of 3.49%, the annual rate of interest becomes 41.88% on cash . At the time of getting the Bajaj Finserv credit cards, the APR is fixed for 3 months and after 3 months, it needs to be reviewed. The bank changes it on the basis of different factors such as credit history, behavior of repayment etc. Interest rate varies between 3.10% and 3.49% i.e. APR between 37.20% and 41.88%.
  • Statement needs to be checked to know the correct payment due date. Based on the payment due date, the interest free credit period could be between 18 days and 48 days to 25 days to 55 days. However, it is not applicable for revolving balances and cash advances. Here, interest is charged from transaction date. Interest free period can be changed by notification from bank.  For example- if the statement date is 2nd of November and payment due date is 24th of November; the interest free date is 24th of November.
  • In case payment is not made till the payment due date if part payment facility is selected, then interest needs to be paid. If full payment is made before the payment due date, then customer doesn’t have to pay any interest. If partial payment is made before payment due date, then from the transaction date till payment date, interest needs to be paid.

 Important Terms:-

 Credit Limit: -This is the maximum limit assigned to the borrower for making purchases.
 

 Cash Limit: - The maximum cash advance limit assigned to the borrower when using the credit card is the cash limit.
 

  Available Credit Limit: - The difference between the assigned credit limit and outstanding balance    
 

  Available Cash Limit: - The difference between the assigned cash limit and outstanding cash balance.
 

Fees & Charges for Bajaj Finserv Credit Cards

Late Payment Charges

Statement Amount

Late Payment Charges

Less than or equal to Rs. 500

Rs 100+ST

Rs. 501 – Rs. 2000

Rs 350/- + ST

Rs. 2001 – Rs. 4000

Rs. 500/-+ST

Rs. 4001- Rs. 20000

Rs. 700/-+ST

Higher than Rs. 20000/-

Rs. 800/-+ST

Other Fees & Charges

 

Other Financial Details Charges

 

Details

 

Late charge

 

Rs.100 is charged in case the payment is missed for two consecutive months.

   

 

Over Limit Fees

 

2.5% of the overlimit amount or minimum Rs. 500 for each per instance.

 

Credit Card Rewards points  Handling Charges

 

Handling and courier charges for redemption of reward points Rs 99 will be charged towards.

 

Cash Advance Fee

 

3% of the cash withdrawal amount or minimum of Rs 300 for cash withdrawal done at ATM. Additional charge of Rs 500 will be levied in case the cash withdrawal is done at SCN bank branches.

 

 

Overseas Transactions Fee

 

3.5% on the amount as transaction fee for all overseas transactions done using the Bajaj Finserv credit card. This charge is all inclusive of charges paid out to MasterCard / VISA for conversion of foreign currency to INR.
An additional charge of 0.80% is levied for transactions done at merchants that are registered overseas, even if the merchant is located in India

 

Surcharges

 

2.5% of transaction amount or Rs 25 whichever is higher on transactions done for Railway ticket. For fuel purchase 2.5% of transaction amount or Rs 10 whichever is higher.

 

Cheque/ Cash Pick up Fee

For overdue card accounts, charge of Rs 100 will be levied for payments collected by authorized representatives. The same will reflect in the next month's statement.

Bajaj Finserv credit card Online Payment Options

  • NEFT/IBFT - The Bajaj Finserv credit card holders can pay their credit card bills using the NEFT option. The card holder needs to quote their 16 digit Bajaj Finserv credit card no. & IFSC code as SCBL0036001 and select the bank branch as MG Road, Mumbai to transfer from their bank account directly
  • Online / Net Banking – The Bajaj Finserv credit cards can be accessed online using the net banking facility. The card holder can manage their finances & be in complete control of their accounts anytime, anywhere and can make online credit card payments.

Other Payment Options for Bajaj Finserv Credit card Payment.

  • Bill desk – One can pay for their Bajaj Finserv card on the go itself using the Bill desk options anytime, anywhere in a safe and sound manner.
  • Cheque and Cash payment – The payments for Bajaj Finserv credit cards can be done either as cash payment at any of the nearest SCB Bank branches or Cheque dropped in the cheque drop box provided for credit card payments.
  • Phone banking options- In case the card holders have already registered their Bajaj Finserv credit card with their SCB saving account, the card holder may call phone banking helpline and initiate a transfer from their SCB bank account instantly.
  • Auto debit Facility – The Bajaj Finserv credit cards holders may also set up an auto debit facility to pay their Bajaj Finserv credit card bills in full or the minimum payment due every month before the payment due date.
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