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Credit Card

Indian bank offers a wide range of credit cards to its customers keeping in mind their various needs. These cards have global acceptance except for one card which is only for intended for domestic use.

Features of Indian bank credit cards

  • Worldwide Acceptance- Indian Bank Credit Cards are accepted in more than 30 million Merchant concerns under VISA all over the world and 1, 50, 000 Visa Merchants in India.
  • Cash back and Rewards- Rs. 0.50 is earned by spending Rs. 100 on purchases done through Indian Bank Credit Cards.  In order to redeem the rewards, Rs. 500 needs to be collected. For cash back, these reward points on your credit card will be redeemed which would in turn be credited into the bank account of the customer.
  • No annual fee- Nil annual fees or renewal fee for Indian Bank credit cards.
  • Credit period- A credit period of more than 15 days to 45 days with no Interest on purchases done using Indian Bank credit card.
  • Cash Advance- With the help of Indian Bank credit card, customers can withdraw cash from more than 5,500 Visa ATMs across India and 8 lakhs Visa ATMs across the world.
  • Add on Cards- Add on cards are also available.
  • Revolving Credit-The facility of partial payment is also available on Indian Bank Credit Cards with a low interest to be added with the reminder. After payment done, the interest will be refunded thereafter.
  • Insurance- Insurance cover is also provided with Indian bank credit cards.

There are basically 4 types of credit cards offered by Indian Bank and the applicant may choose an Indian Bank card as per their requirement Indian Bank credit cards eligibility.

The features of Credit card from Indian Bank are as

  1. Indian bank Classic Credit Card:-

Indian bank Classic Card is an international credit card accepted globally and brings greater value proportion for customers. The classic Indian Bank credit card is accepted at over 30 million Visa Merchant vendors across the globe including 1,50,000 in India.

There is no joining and annual fee for Indian Bank Cards. The classic Indian Bank credit cards eligibility criteria minimum monthly income of Rs 12,500.

PAN card is also a compulsory requirement apart from other Indian Bank credit card documents.

Cash can be withdrawn till 40% of the available credit limit from any Visa ATM in India. The daily limit is INR 25,000. Both Indian nationals and NRI s and people of age group 18 years to 80 years can avail this card.

By paying 5% of gross transaction amount and finance charges, balance can be revolved at a nominal interest rate @ 1.99% per month. Also, 50 paisa in rewards can be earned by spending Rs. 100 on purchases. In order to redeem the rewards, Rs. 500 needs to be collected. For cash back, these reward points will be redeemed which would in turn be credited into the bank account of the customer. Billing date is on 20th date of every month. Late payment fee is Rs 250 for every incidence.

4 supplementary cards can be availed that could be shared with the family.

The card holder is offered protection cover under Indian Bank credit cards insurance plan which cover any financial liabilities due to fraudulent transactions made on the Indian Bank credit card. 

Types of cover offered in Indian Bank credit card insurance:

  • In the event of card holder’s death because of air accident, Rs. 2 lakhs is the complimentary insurance coverage amount.
  • In case of death because of other accident, Rs. 1 lakhs is the insurance coverage amount.
  • In case of death because of air accident of the first add-on card member, Rs. 50, 000 the complimentary insurance coverage amount.
  •  Hospitalization cover because of accident is Rs. 50, 000. However for persons more than 65 years of age, the coverage amount is Rs. 25,000.
  • In case of death because of accident, credit shield is Rs. 10, 000.
  • Rs. 10,000 is the purchase protection cover applicable to Indian Bank credit cards
  • Rs. 5,000 is the cover for loss of baggage in case of air travel.
  1. Indian Bank Gold Card:-

Indian Bank Gold Card has global acceptance. Like other Credit cards offered by Indian Bank, the Indian Bank Gold Card is accepted at over 30 million Visa Vendors across the globe including 1,50,000 in India.

There is no joining and annual fee for the Indian Bank Gold Card.

A minimum monthly income of Rs.12,500 is mandatory as part of the Indian Bank credit cards eligibility criteria and is a primary requirement when applying for Indian Bank credit cards.

PAN card is also compulsory in order to apply for Global Gold Card. To get an add-on card, there is a onetime fee of Rs. 250.

Cash can be withdrawn up to 40% of the card’s purchase limit from any Visa ATM in India using the Indian bank credit card. The daily limit on cash withdrawals is Rs. 25,000.Both Indian nationals and NRIs and people of age group 18 years to 80 years can avail this card.

By paying 5% of the gross transaction amount and finance charges, balance can be revolved at a nominal interest rate of 1.99% per month. Also, 50 paisa could be earned by spending Rs. 100 on purchases. In order to redeem the rewards, Rs. 500 needs to be collected.

 For cash back, these reward points will be redeemed which would in turn be credited into the bank account of the customer.

 Billing date is on 20th of every month. Late payment fee is Rs. 250.           

4 supplementary cards can be availed that could be shared with the family.

Indian Bank cards offer Insurance cover for any misfortune happening with the card.

Type of Risk Insurance Coverage:

  • In case of death because of air accident, Rs. 5 lakhs is the insurance coverage amount.
  • In case of death because of other accident, Rs. 2 lakhs is the insurance coverage amount.
  • In case of death because of air accident to first add on card member, Rs. 1 lakh is the insurance coverage amount.
  •  Hospitalization cover because of accident is Rs. 1 lakh. However for persons of more than 65 years of age, the coverage amount is Rs. 50,000.
  • In case of death because of accident, credit shield is Rs. 25, 000.
  • Rs. 25,000 is the purchase protection cover is applicable as a complimentary benefit.    
  • Rs. 10,000 is the cover for loss of baggage during your travels.
  1. Bharat Credit Card:-

Bharat Credit Card is the only Indian Bank credit card which is valid only within India i.e. it cannot be used internationally. There is no joining and annual fee for this card. To apply for this card, Rs. 5,000 should be the minimum monthly income of the applicant. PAN card/Form60 and Voter card are compulsory in order to apply for Bharat Credit Card. No add on card facility is available.

Cash can be withdrawn up to 25% of the credit limit from any Visa ATM in India. Only Indian nationals and people of age group 25 years to 60 years can avail this credit card.

By paying 10% of total transaction amount plus finance charges, balance can be revolved at a nominal interest rate of 1.79% per month. Also, 50 paisa could be earned each time you spend Rs. 100 on purchases. In order to redeem the rewards, Rs. 500 needs to be collected. For cash back, these reward points will be redeemed which would in turn be credited into the credit card account of the customer. Billing date is on 15th of every month. Late payment fee is Rs 50 each time the payment is not made on the due date.         

Up to 4 supplementary cards can be availed that could be shared with adults (over 18 years) family members of the primary card holder.

Insurance is also provided with Bharat Credit card from Indian Bank   

Type of Risk Insurance Coverage:

  • In case of death because of air accident, Rs. 1 lakh is the insurance coverage amount.
  • In case of death because of any other accident, Rs. 50, 000 is the insurance coverage amount.
  • Hospitalization cover because of accident is up to Rs. 50,000. However for persons of more than 65 years of age, it is not applicable.
  • In case of death because of accident, credit shield is Rs. 10, 000.
  • Rs. 10,000 is the purchase protection cover but no coverage for baggage loss is available in case of this credit card.

Visa Business Credit Card:-

Visa Business Credit Card has global acceptance. Limited Companies, Corporates, Partnership and Sole Proprietary Concerns with collective limits of Rs 10 lakhs can avail this credit card. There is no joining and/or annual fee applicable to this card.PAN card copy, last 2 years financial statements, Branch Recommendation along with application form duly signed by employees/executives and authorized signatory of business undertaking needs to be furnished in order to apply for Visa Business Credit Card. Up to 5 cards can be issued per business entity.

Cash can be withdrawn up to 20% of the credit limit from any Visa ATM in India.

By paying 25% of total transaction amount plus finance charges subject to minimum of INR 1,000, balance can be carried forward at a nominal interest rate of 1.99% per month. Also, 50 paisa can be earned in rewards every time you spend Rs. 100 on purchases. In order to redeem the rewards, Rs. 500 needs to be collected. These reward points can be redeemed in lieu of cash back which would in turn be credited into the bank account of the customer. Billing date is on the 25th day of every month. Late payment fee is Rs. 250.              

Complimentary insurance coverage is also provided with this card and includes baggage loss, card loss/fraud coverage among others,

Service Charges & fees for Various Indian Bank Credit Cards

The following are the key service charges and fees of various credit cards from Indian Bank:

Sl no

Features

Gold Card

Classic Card

Bharat Card

 

Joining Fee- Primary Card

Nil

Nil

Nil

 

Joining Fee - Add-on card

Rs. 250

Rs. 100

 NA

 

Annual Membership

Nil

Nil

Nil

 

Purchase Charges / Other Fee Charges

1.99% p.m.

1.99% p.m.

1.79%  Per Month

 

Cash Advance Fee

Rs.50/-

Rs.50/-

Rs.25/-

 

Cash Advance charges

2.25% p.m.

2.25% p.m.

1.99% p.m.

 

Over Limit Fee

Rs.50/-

Rs.50/-

Rs.25/-

 

Late Fee

Rs.250/-

Rs.250/-

Rs.50/-

 

Cheque return Charges

Rs.250/-

Rs.250/-

Rs.50/-

 

Limit Enhancement Fee

Rs.100/-

Rs.100/-

Rs.25/-

 

Foreign Currency Transaction Fee

Conversion Mark up 3%

Conversion Mark up 3%

N A

 

Card Re issue Fee

Rs.250/-

Rs.100/-

Rs.100/-

 

 Surcharge

2.5% on fuel Purchase &  1.8% on ticket booking amount 

2.5% on fuel Purchase &  1.8% on ticket booking amount

2.5% on fuel Purchase &  1.8% on ticket booking amount

 

 Pin Mailer Re issue

Rs.50/-

Rs.50/-

Rs.25/-

 

Charge Slip Retrieval Fee

Rs 125/ per Slip

Rs 125/ per Slip

Rs 75/ per Slip

 

Statement Retrieval Fee

Rs 100/ per statement

Rs 100/ per statement

Rs 50/ per stt.

 

Balance Enquiry through ATM

Rs 35/ in India / Rs 50/ abroad

Rs 35/ in India / Rs 50/ abroad

Rs 35/ in India

 

Other than Indian Bank ATM’s in India

Rs.50/-

Rs.50/-

Rs.50/-

 

Cash withdrawal at Indian Bank ATM’s

Nil

Nil

Nil

 

Cash withdrawal at any ATM at Abroad

Rs.250/-

Rs.250/-

Not applicable

 

Auto Debit Facility on request

Available

Available

Available

Other Important features of Indian Bank Cards

Bharat Credit Cardis the only Indian Bank credit card which is validonly within India. There is no joining and annual fee for this card.To apply for this card, INR 5, 000should be the minimum income. PAN card and Voter card isCompulsory in order to apply for Global Classic Gold Card. No add on card facility is available.

Cash can be withdrawn up to 25% of the credit limit from any Visa ATM in India. Only Indian nationals and people of age group 25 years to 60 years can avail this card.


By paying 10% of total transaction amount plus finance charges, balance can be revolved at a nominal interest rate of 1.79% per month. Also, 50 paisa could be earned by spending INR 100 on purchases. In order to redeem the rewards, INR 500 needs to be collected. For cash back, these reward points will be redeemed which would in turn be credited into the bank account of the customer. Billing date is on 15th of every month.Late payment fee is INR 50.     

4 supplementary cards can be availed that could be shared with the family.

Insurance is also provided with this card.


Types of Risk Insurance Coverage:
 

  • In case of death because of air accident, INR 1 lakh is the insurance coverage amount.
  • In case of death because of other accident, INR 50, 000 is the insurance coverage amount.
  • Hospitalization cover because of accident is INR 50,000. However for persons of more than 65 years of age, it is not applicable.
  • In case of death because of accident, credit shield is INR 10, 000.
  • INR 10,000 is the purchase protection cover but no coverage for baggage.
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