Introduction: Hello friends we are here to with a great information of HDFC MoneyBack Card Benefits and Features. You can consider saving at the time of spending by making use of HDFC MoneyBack Credit card. This cashback credit card will come with a joining fee of Rs.500/- in the first year. This amount will be waived if you are having a savings account or current account with HDFC bank or if you take a decision of opening one within three months of your credit card being approved. From the second year onwards, you will be charged with an annual fee of an amount of Rs.500/-. This specific amount will be waived off only if you are spending a minimum amount of Rs.50,000/- in the year or if you are opening either a savings account or a current account of the same amount. The rate of interest which has to be paid on this credit card is 40.8% per annum.
A step by step guide to HDFC Bank MoneyBack Credit card
Quick Key Highlights of HDFC Bank MoneyBack Credit card
- This is a cashback credit card with a very minimal annual fee.
- You will be able to receive accelerated reward points on purchases made online.
- Redemption of reward points for cash against outstanding balance amount on the card.
Benefits of cashback provided by HDFC MoneyBack Credit card
- Two reward points on the spends made on retail. You will be able to receive 2X more reward points on the spends or purchases made online.
- You will be able to redeem reward points for cash. 100 reward points will be equal to an amount of Rs.20/-.
HDFC MoneyBack Credit card features and benefits
You can consider applying for the MoneyBack Credit card and receive 500 reward points as joining bonus, If you are renewing your credit card, you will be able to receive 500 more reward points.
Program of Reward points
- You will be able to receive two reward points on each amount of Rs.150/- spent using this credit card.
- You will get 2x reward points on the spends made online.
- You can consider redeeming the accumulated reward points for cashback against the outstanding balance on credit card. 100 reward points are equal to Rs.20/-.
- These reward points can also be redeemed for air miles and gifts from exclusive rewards catalogue.
- You will be required 2500 reward points for redemption. The collected points will be valid for a period of 2 years from the accumulation date.
You will be able to spend an amount of Rs.50,000/- or more on purchases made on retail in a quarter and receive an e-voucher which is worth an amount of Rs.500/-. This voucher will be valid for 60 days.
By performing a minimum number of 4 transactions every month, you will receive
Complimentary accidental death insurance which is worth an amount of Rs.50 lakhs
Complimentary protection for goods which are more than the amount of Rs.5,000/- and purchased by making use of the credit card. This offer will cover loss or damage caused to the goods because of fire and burglary for 180 days from the purchase date.
You may be interested in Credit Card Balance Transfer Tips in India.
Savings on purchases made on fuel
By making use of the facility of the waiver on fuel surcharge, you will be able to save up to an amount of Rs.1,800/- every year on the purchases made on fuel at stations which are present throughout India. This offer will be valid if the minimum amount of transaction is Rs.400/-.
Zero liability on the lost card
After you report the loss of your card, you will have zero liability on any unauthorized or fraudulent transactions which are made with your credit card.
HDFC MoneyBack Credit card fees and charges
- An amount of Rs.500/- will be charged as joining fee on this MoneyBack Credit card
- HDFC MoneyBack Credit card Annual fees is of Rs.500/- .
- Rate of interest charged on this credit card will be 3.49% per month.
- Fee for withdrawal of cash will be 2.5% of the amount which is withdrawn which would be subjected to a minimum amount of Rs.500/-.
- Limit of cash advance is 40% of the credit limit.
- Fee for the redemption of rewards is an amount of Rs.99/- per request.
- Charges for late payment will be based on the outstanding statement balance amount. Any outstanding balance amount less than Rs.100/- will not be charged with any fee. If the outstanding balance amount is between the amount of Rs.101/- to Rs.500/-, an amount of Rs.100/- will be charged. The outstanding amount between Rs. 501/- to Rs.5,000/- will be charged with a late payment fee of Rs.400/-. Outstanding balance amount between Rs.5,001/- to Rs.10,000/- will be charged a late payment of Rs.500. Any outstanding balance amount more than Rs.10,001/- will be charged with a late payment fee of Rs.750/-.
- Charges of over-limit will be 2.5% of the amount of over-limit which would be subjected to a minimum amount of Rs.500/-.
- Charges of payment return will be 2% of the amount of payment which would be subjected to a minimum of Rs.450/-.
- Fee for the processing of cash is an amount of Rs.100/-.
- Fee for card re-issuance of the lost or stolen or damaged card is an amount of Rs.100.
- Fee for foreign currency transactions is 3.5% of the amount of transaction.
- Charges for outstation cheque processing will be Rs.25/- if the cheque value is up to an amount of Rs.5,000/- and Rs.50/- of the cheque value is more than the amount of Rs.5,000/-.
Eligibility criteria required for the application of HDFC Bank MoneyBack Credit card
- You can be either a salaried or self-employed individual.
- For salaried individuals, age should be between 21 to 60 years.
- For self-employed individuals, age should be between 21 to 65 years.
- You should also have a good credit history and an income flow which is stable.
Required documentation for the application of HDFC MoneyBack Credit card
The documentation which is exactly required for the application of this credit card is not available on the official website of HDFC bank.
Below are the basic documentation required for the processing of any application of credit card
- PAN card.
- Proof of income like payslips or Income Tax Returns.
- Recent bank statements and others.